Document:

MORTGAGE
        LOAN PURCHASE AGREEMENT

       

      This
        is a
        Mortgage Loan Purchase Agreement (this “Agreement”), dated January 25, 2007,
        among RESIDENTIAL FUNDING COMPANY, LLC, a Delaware limited liability company
        (“RFC”), CARRINGTON SECURITIES, LP, a Delaware limited partnership (the
“Seller”), and STANWICH ASSET ACCEPTANCE COMPANY, L.L.C., a Delaware limited
        liability company (the “Purchaser”).

       

      Preliminary
        Statement

       

      The
        Seller intends to sell the Mortgage Loans (as hereinafter identified) to
        the
        Purchaser on the terms and subject to the conditions set forth in this
        Agreement. The Purchaser intends to deposit the Mortgage Loans into a mortgage
        pool comprising the Trust Fund. The Trust Fund will be evidenced by a single
        series of mortgage pass-through certificates designated as Carrington Mortgage
        Loan Trust, Series 2007-RFC1 Asset-Backed Pass-Through Certificates (the
        “Certificates”). The Certificates will consist of eighteen classes of
        certificates and will be issued pursuant to a Pooling and Servicing Agreement,
        dated as of January 1, 2007 (the “Pooling and Servicing Agreement”), among the
        Purchaser as depositor, RFC as servicer (the “Servicer”), and Wells Fargo Bank,
        N.A. as trustee (the “Trustee”). Capitalized terms used but not defined herein
        shall have the meanings set forth in the Pooling and Servicing
        Agreement.

       

      The
        parties hereto agree as follows:

       

      Section
        1. Agreement
        to Purchase.
        The
        Seller agrees to sell and the Purchaser agrees to purchase, on or before
        January
        25, 2007 (the “Closing Date”), certain adjustable-rate and fixed-rate,
        interest-only, balloon and fully-amortizing, first lien and second lien,
        closed-end, subprime mortgage loans purchased by the Seller from RFC (the
        “Mortgage Loans”), having a scheduled principal balance as of the close of
        business on January 1, 2007 (the “Cut-off Date”) of approximately $886,526,948
        (the “Closing Balance”), after giving effect to all payments due on the Mortgage
        Loans on or before the Cut-off Date, whether or not received including the
        right
        to any Prepayment Charges payable by the related Mortgagors in connection
        with
        any Principal Prepayments on the Mortgage Loans, on a servicing-retained
        basis.

       

      Section
        2. Mortgage
        Loan Schedule.
        The
        Purchaser and the Seller have agreed upon which of the Mortgage Loans are
        to be
        purchased by the Purchaser pursuant to this Agreement and the Seller will
        prepare or cause to be prepared on or prior to the Closing Date a final schedule
        (the “Closing Schedule”) that shall describe such Mortgage Loans and set forth
        all of the Mortgage Loans to be purchased under this Agreement, including
        the
        Prepayment Charges. The Closing Schedule will conform to the requirements
        set
        forth in this Agreement and, with respect to the Mortgage Loans subject to
        this
        Agreement, to the definition of “Mortgage Loan Schedule” under the Pooling and
        Servicing Agreement. The Closing Schedule shall be used as part of the Mortgage
        Loan Schedule under the Pooling and Servicing Agreement and shall be based
        on
        information provided by RFC.

       

      Section
        3. Consideration.

       

      (a) In
        consideration for the Mortgage Loans to be purchased hereunder, the Purchaser
        shall, as described in Section 8, pay to or upon the order of the Seller
        in
        immediately available funds an amount (the “Purchase Price”) equal to (i) the
        net sale proceeds of the Class A Certificates and the Mezzanine Certificates
        (other than the Class M-10 Certificates) and (ii) the Class M-10 Certificates,
        the Class CE Certificates and the Class P Certificates.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      (b) The
        Purchaser or any assignee, transferee or designee of the Purchaser shall
        be
        entitled to all scheduled payments of principal due after the Cut-off Date,
        all
        other payments of principal due and collected after the Cut-off Date, and
        all
        payments of interest on the Mortgage Loans allocable to the period after
        the
        Cut-off Date. All scheduled payments of principal and interest due on or
        before
        the Cut-off Date and collected after the Cut-off Date shall belong to
        RFC.

       

      (c) Pursuant
        to the Pooling and Servicing Agreement, the Purchaser will assign all of
        its
        right, title and interest in and to the Mortgage Loans, together with its
        rights
        under this Agreement, to the Trustee for the benefit of the
        Certificateholders.

       

      Section
        4. Transfer
        of the Mortgage Loans.

       

      (a) Possession
        of Mortgage Files.
        The
        Seller does hereby sell, and in connection therewith hereby assigns, to the
        Purchaser, effective as of the Closing Date, without recourse but subject
        to the
        terms of this Agreement, all of its right, title and interest in, to and
        under
        the Mortgage Loans, including the related Prepayment Charges. The contents
        of
        each Mortgage File not delivered to the Purchaser or to any assignee, transferee
        or designee of the Purchaser on or prior to the Closing Date are and shall
        be
        held in trust by the Seller for the benefit of the Purchaser or any assignee,
        transferee or designee of the Purchaser. Upon the sale of the Mortgage Loans,
        the ownership of each Mortgage Note, the related Mortgage and the other contents
        of the related Mortgage File is vested in the Purchaser and the ownership
        of all
        records and documents with respect to the related Mortgage Loan prepared
        by or
        that come into the possession of the Seller on or after the Closing Date
        shall
        immediately vest in the Purchaser and shall be delivered immediately to the
        Purchaser or as otherwise directed by the Purchaser.

       

      (b) Delivery
        of Mortgage Loan Documents.
        The
        Seller will, on or prior to the Closing Date, deliver or cause to be delivered
        to the Purchaser or any assignee, transferee or designee of the Purchaser
        each
        of the following documents for each Mortgage Loan:

       

      (i) the
        original Mortgage Note, endorsed in blank or in the following form “Pay to the
        order of Wells Fargo Bank, N.A., as Trustee under the applicable agreement,
        without recourse,” with all prior and intervening endorsements showing a
        complete chain of endorsement from the originator to the Person so endorsing
        to
        the Trustee;

       

      (ii) the
        original Mortgage (noting the presence of the MIN of the Mortgage Loan and
        language indicating that the Mortgage Loan is a MOM Loan if the Mortgage
        Loan is
        a MOM Loan) with evidence of recording thereon, and the original recorded
        power
        of attorney, if the Mortgage was executed pursuant to a power of attorney,
        with
        evidence of recording thereon;

       

      (iii) unless
        the Mortgage Loan is registered on the MERS® System, an original Assignment in
        blank;

      
        
           

        

        
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      (iv) the
        original recorded Assignment or Assignments showing a complete chain of
        assignment from the originator to the Person assigning the Mortgage to the
        Trustee (or to MERS if the Mortgage Loan is registered on the MERS® System and
        noting the presence of MIN) as contemplated by the immediately preceding
        clause
        (iii); and

       

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

       

      With
        respect to a maximum of approximately 2.0% of the Original Mortgage Loans,
        by
        outstanding principal balance of the Original Mortgage Loans as of the Cut-off
        Date, if any original Mortgage Note referred to in Section 4(b)(i) above
        cannot
        be located, the obligations of the Seller to deliver such documents shall
        be
        deemed to be satisfied upon delivery to the Purchaser of a photocopy of such
        Mortgage Note, if available, with a lost note affidavit substantially in
        the
        form of Exhibit H attached to the Pooling and Servicing Agreement. If any
        of the
        original Mortgage Notes for which a lost note affidavit was delivered to
        the
        Purchaser is subsequently located, such original Mortgage Note shall be
        delivered to the Purchaser within three Business Days.

       

      If
        any of
        the documents referred to in Sections 4(b)(ii), (iii) or (iv) above has,
        as of
        the Closing Date, been submitted for recording but either (x) has not been
        returned from the applicable public recording office or (y) has been lost
        or
        such public recording office has retained the original of such document,
        the
        obligations of the Seller to deliver such documents shall be deemed to be
        satisfied upon (1) delivery to the Purchaser of a copy of each such document
        certified by RFC in the case of (x) above or the applicable public recording
        office in the case of (y) above to be a true and complete copy of the original
        that was submitted for recording and (2) if such copy is certified by RFC,
        delivery to the Purchaser promptly upon receipt thereof of either the original
        or a copy of such document certified by the applicable public recording office
        to be a true and complete copy of the original. Notice shall be provided
        to the
        Purchaser and the Trustee by the Seller if delivery pursuant to clause (2)
        above
        will be made more than 180 days after the Closing Date. The Seller shall
        deliver
        or cause to be delivered to the Purchaser promptly upon receipt thereof any
        other original documents constituting a part of a Mortgage File received
        with
        respect to any Mortgage Loan, including, but not limited to, any original
        documents evidencing an assumption or modification of any Mortgage
        Loan.

       

      Except
        with respect to any Mortgage Loan for which MERS is identified on the Mortgage,
        the Seller shall (at the expense of RFC) promptly (within sixty Business
        Days
        following the later of the Closing Date and the date of receipt by the Seller
        of
        the recording information for a Mortgage, but in no event later than ninety
        days
        following the Closing Date) submit or cause to be submitted for recording,
        at no
        expense to the Trust Fund, the Trustee or the Purchaser, in the appropriate
        public office for real property records, each Assignment referred to in Sections
        4(b)(iii) and (iv) above and the Seller shall execute each original Assignment
        or cause each original Assignment to be executed in the following form: “Wells
        Fargo Bank, N.A., as Trustee under the applicable agreement.” In the event that
        any such Assignment is lost or returned unrecorded because of a defect therein,
        the Seller shall promptly prepare or cause to be prepared a substitute
        Assignment or cure or cause to be cured such defect, as the case may be,
        and
        thereafter cause each such Assignment to be duly recorded.

      
        
           

        

        
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      Notwithstanding
        the foregoing, however, for administrative convenience and facilitation of
        servicing and to reduce closing costs, the Assignments shall not be required
        to
        be submitted for recording (except with respect to any Mortgage Loan located
        in
        Maryland) unless the Trustee or the Purchaser receives notice that such failure
        to record would result in a withdrawal or a downgrading by any Rating Agency
        of
        the rating on any Class of Certificates; provided,
        however,
        the
        Seller shall submit or cause to be submitted each Assignment for recording
        in
        the manner described above, except with respect to any Mortgage Loan for
        which
        MERS is identified on the Mortgage, at the expense of RFC and at no expense
        to
        the Trust Fund or the Trustee, upon the earliest to occur of: (i) written
        direction by Holders of Certificates entitled to at least 25% of the Voting
        Rights, (ii) the occurrence of a Servicer Event of Default, (iii) the occurrence
        of a bankruptcy, insolvency or foreclosure relating to the Servicer, (iv)
        the
        occurrence of a servicing transfer as described in Section 7.02 of the Pooling
        and Servicing Agreement, (v) with respect to any one Assignment, the occurrence
        of a bankruptcy, insolvency or foreclosure relating to the Mortgagor under
        the
        related Mortgage and (vi) any Mortgage Loan that is 90 days or more delinquent.
        Upon receipt of written notice that recording of the Assignments is required
        pursuant to one or more of the conditions set forth in the preceding sentence,
        the Seller shall be required to deliver such Assignments or shall cause such
        Assignments to be delivered within 30 days following receipt of such
        notice.

       

      Each
        original document relating to a Mortgage Loan which is not delivered to the
        Purchaser or its assignee, transferee or designee, if held by the Seller,
        shall
        be so held for the benefit of the Purchaser, its assignee, transferee or
        designee.

       

      (c) Acceptance
        of Mortgage Loans.
        The
        documents delivered pursuant to Section 4(b) hereof shall be reviewed by
        the
        Purchaser or any assignee, transferee or designee of the Purchaser at any
        time
        before or after the Closing Date (and with respect to each document permitted
        to
        be delivered after the Closing Date, within seven days of its delivery) to
        ascertain that all required documents have been executed and received and
        that
        such documents relate to the Mortgage Loans identified on the Mortgage Loan
        Schedule.

       

      (d) Transfer
        of Interest in Agreements.
        The
        Purchaser has the right to assign its interest under this Agreement, in whole
        or
        in part, to the Trustee, as may be required to effect the purposes of the
        Pooling and Servicing Agreement, without the consent of the Seller or RFC,
        and
        the assignee shall succeed to the rights and obligations hereunder of the
        Purchaser. Any expense reasonably incurred by or on behalf of the Purchaser
        or
        the Trustee in connection with enforcing any obligations of the Seller or
        RFC
        under this Agreement will be promptly reimbursed by the Seller or RFC, as
        applicable.

       

      (e) Examination
        of Mortgage Files.
        Prior
        to the Closing Date, the Seller shall either (i) deliver in escrow to the
        Purchaser, or to any assignee, transferee or designee of the Purchaser for
        examination, the Mortgage File pertaining to each Mortgage Loan or (ii) make
        such Mortgage Files available to the Purchaser or to any assignee, transferee
        or
        designee of the Purchaser for examination. Such examination may be made by
        the
        Purchaser or the Trustee, and their respective designees, upon reasonable
        notice
        to the Seller during normal business hours before the Closing Date and within
        60
        days after the Closing Date. If any such person makes such examination prior
        to
        the Closing Date and identifies any Mortgage Loans that do not conform to
        the
        requirements of the Purchaser as described in this Agreement, such Mortgage
        Loans shall be deleted from the Closing Schedule. The Purchaser may, at its
        option and without notice to the Seller, purchase all or part of the Mortgage
        Loans without conducting any partial or complete examination. The fact that
        the
        Purchaser or any person has conducted or has failed to conduct any partial
        or
        complete examination of the Mortgage Files shall not affect the rights of
        the
        Purchaser or any assignee, transferee or designee of the Purchaser to demand
        repurchase or other relief as provided herein or under the Pooling and Servicing
        Agreement.

      
        
           

        

        
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      Section
        5. Representations,
        Warranties and Covenants of RFC and the Seller.

       

      (a) RFC
        hereby represents and warrants to the Seller and the Purchaser, as of the
        date
        hereof and as of the Closing Date, and covenants, that:

       

      (i) RFC
        is
        duly organized, validly existing and in good standing under the laws of the
        state of Delaware and is and will remain in compliance with the laws of each
        state in which any Mortgaged Property is located to the extent necessary
        to
        ensure the enforceability of each Mortgage Loan and the servicing of the
        Mortgage Loan in accordance with the terms of this Agreement. No licenses
        or
        approvals obtained by RFC have been suspended or revoked by any court,
        administrative agency, arbitrator or governmental body and no proceedings
        are
        pending which might result in such suspension or revocation;

       

      (ii) RFC
        has
        the full power and authority to hold each Mortgage Loan, to sell each Mortgage
        Loan, and to execute, deliver and perform, and to enter into and consummate,
        all
        transactions contemplated by this Agreement. RFC has duly authorized the
        execution, delivery and performance of this Agreement, has duly executed
        and
        delivered this Agreement, and this Agreement, assuming due authorization,
        execution and delivery by the Purchaser, constitutes a legal, valid and binding
        obligation of RFC, enforceable against it in accordance with its terms except
        to
        the extent that (i) the enforceability thereof may be limited by bankruptcy,
        insolvency, moratorium, receivership, reorganization, or other similar laws
        relating to creditors’ rights generally and (ii) the remedy of specific
        performance and injunctive relief and other forms of equitable relief may
        be
        subject to the equitable defenses and to the discretion of the court before
        which any proceeding therefore may be brought;

       

      (iii) The
        execution and delivery of this Agreement by RFC and the performance of and
        compliance with the terms of this Agreement will not violate RFC’s certificate
        of formation or limited liability company agreement or constitute a material
        default under or result in a material breach or acceleration of, any material
        contract, agreement or other instrument to which RFC is a party or which
        may be
        applicable to RFC or its assets;

       

      (iv) RFC
        is
        not in violation of, and the execution and delivery of this Agreement by
        RFC and
        its performance and compliance with the terms of this Agreement will not
        constitute a violation with respect to, any order or decree of any court
        or any
        order or regulation of any federal, state, municipal or governmental agency
        having jurisdiction over RFC or its assets, which violation might have
        consequences that would materially and adversely affect the condition (financial
        or otherwise) or the operation of RFC or its assets or might have consequences
        that would materially and adversely affect the performance of its obligations
        and duties hereunder;

      
        
           

        

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

       

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

       

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

       

      (viii) The
        consummation of the transactions contemplated by this Agreement are in the
        ordinary course of business of RFC; and

       

      (ix) Neither
        this Agreement nor any written statement, report or other document prepared
        and
        furnished by RFC pursuant to this Agreement or in connection with the
        transactions contemplated hereby contains any untrue statement of material
        fact;

       

      (x) RFC
        has
        serviced the Mortgage Loans in accordance with the terms of the Master Mortgage
        Loan Purchase and Servicing Agreement between RFC as a Seller and Carrington
        Securities, LP dated as of December 28, 2006 (the “Whole Loan Agreement”), and
        complied with all covenants and obligations thereunder.

       

      (b) The
        Seller hereby represents and warrants to RFC and the Purchaser, as of the
        date
        hereof and as of the Closing Date, and covenants, that:

       

      (i) The
        Seller is duly organized, validly existing and in good standing as a limited
        partnership under the laws of the State of Delaware with full limited
        partnership power and authority to conduct its business as presently conducted
        by it to the extent material to the consummation of the transactions
        contemplated herein. The Seller has the full limited partnership power and
        authority to own the Mortgage Loans and to transfer and convey the Mortgage
        Loans to the Purchaser and has the full limited partnership power and authority
        to execute and deliver, engage in the transactions contemplated by, and perform
        and observe the terms and conditions of this Agreement;

       

      (ii) The
        Seller has duly authorized the execution, delivery and performance of this
        Agreement, has duly executed and delivered this Agreement, and this Agreement,
        assuming due authorization, execution and delivery by RFC and the Purchaser,
        constitutes a legal, valid and binding obligation of the Seller, enforceable
        against it in accordance with its terms except as the enforceability thereof
        may
        be limited by bankruptcy, insolvency or reorganization;

      
        
           

        

        
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      (iii) The
        execution, delivery and performance of this Agreement by the Seller (x) does
        not
        conflict and will not conflict with, does not breach and will not result
        in a
        breach of and does not constitute and will not constitute a default (or an
        event, which with notice or lapse of time or both, would constitute a default)
        under (A) any terms or provisions of the certificate of formation or limited
        partnership agreement of the Seller, (B) any term or provision of any material
        agreement, contract, instrument or indenture, to which the Seller is a party
        or
        by which the Seller or any of its property is bound or (C) any law, rule,
        regulation, order, judgment, writ, injunction or decree of any court or
        governmental authority having jurisdiction over the Seller or any of its
        property and (y) does not create or impose and will not result in the creation
        or imposition of any lien, charge or encumbrance which would have a material
        adverse effect upon the Mortgage Loans or any documents or instruments
        evidencing or securing the Mortgage Loans;

       

      (iv) No
        consent, approval, authorization or order of, registration or filing with,
        or
        notice on behalf of the Seller to any governmental authority or court is
        required, under federal laws or the laws of the State of Delaware, for the
        execution, delivery and performance by the Seller of, or compliance by the
        Seller with, this Agreement or the consummation by the Seller of any other
        transaction contemplated hereby; provided, however, that the Seller makes
        no
        representation or warranty regarding federal or state securities laws in
        connection with the sale or distribution of the Certificates;

       

      (v) This
        Agreement does not contain any untrue statement of material fact or omit
        to
        state a material fact necessary to make the statements contained herein not
        misleading. The written statements, reports and other documents furnished
        by the
        Seller pursuant to this Agreement or in connection with the transactions
        contemplated hereby taken in the aggregate do not contain any untrue statement
        of material fact or omit to state a material fact necessary to make the
        statements contained therein not misleading;

       

      (vi) The
        Seller is not in violation of, and the execution and delivery of this Agreement
        by the Seller and its performance and compliance with the terms of this
        Agreement will not constitute a violation with respect to, any order or decree
        of any court or any order or regulation of any federal, state, municipal
        or
        governmental agency having jurisdiction over the Seller or its assets, which
        violation might have consequences that would materially and adversely affect
        the
        condition (financial or otherwise) or the operation of the Seller or its
        assets
        or might have consequences that would materially and adversely affect the
        performance of its obligations and duties hereunder;

       

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

       

      (viii) Immediately
        prior to the sale of the Mortgage Loans to the Purchaser as herein contemplated,
        the Seller will be the owner of the related Mortgage and the indebtedness
        evidenced by the related Mortgage Note, and, upon the payment to the Seller
        of
        the Purchase Price, in the event that the Seller retains or has retained
        record
        title, the Seller shall retain such record title to each Mortgage, each related
        Mortgage Note and the related Mortgage Files with respect thereto in trust
        for
        the Purchaser as the owner thereof from and after the date hereof;

      
        
           

        

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

       

      (x) The
        consummation of the transactions contemplated by this Agreement are in the
        ordinary course of business of the Seller, and the transfer, assignment and
        conveyance of the Mortgage Notes and the Mortgages by the Seller are not
        subject
        to the bulk transfer or any similar statutory provisions;

       

      (xi) The
        Seller has not dealt with any broker, investment banker, agent or other person,
        except for the Purchaser or any of its affiliates, that may be entitled to
        any
        commission or compensation in connection with the sale of the Mortgage
        Loans;

       

      (xii) There
        is
        no litigation currently pending or, to the best of the Seller’s knowledge
        without independent investigation, threatened against the Seller that would
        reasonably be expected to adversely affect the transfer of the Mortgage Loans,
        the issuance of the Certificates or the execution, delivery, performance
        or
        enforceability of this Agreement, or that would result in a material adverse
        change in the financial condition of the Seller;

       

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

       

      (xiv) The
        Seller makes each of the additional representations and warranties set forth
        on
        Schedule I hereto.

       

      Section
        6. Representations
        and Warranties of RFC Relating to the Mortgage Loans.
        RFC
        hereby represents and warrants to the Seller and the Purchaser that as to
        each
        Mortgage Loan as of the Closing Date or as of such other date as specified
        herein:

       

      (1) The
        information set forth in the related Mortgage Loan Schedule and the Mortgage
        Loan Data Tape delivered to the Purchaser is complete, true and correct as
        of
        the Cut-Off Date, unless another date is set forth in the Mortgage Loan
        Schedule;

       

      (2) The
        Mortgage Loan is in compliance with all requirements set forth in the Commitment
        Letter, and the characteristics of the related Mortgage Loan Package as set
        forth in the related Commitment Letter are true and correct;

      
        
           

        

        
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      (3) Each
        document or instrument in the related Mortgage File is in a form prescribed
        in
        the Program Guide and neither RFC nor any Affiliate has made any representations
        to a Mortgagor that are inconsistent with the mortgage instruments
        used;

       

      (4) Except
        with respect to payments not yet 30 days past due, all payments required
        to be
        made up to the close of business on the related Closing Date for such Mortgage
        Loan under the terms of the Mortgage Note have been made; the Servicer has
        not
        advanced funds, or induced, solicited or knowingly received any advance of
        funds
        from a party other than the owner of the related Mortgaged Property, directly
        or
        indirectly, for the payment of any amount required by the Mortgage Note or
        Mortgage; and except with respect to payments not yet 30 days past due, there
        has been no delinquency, exclusive of any period of grace, in any payment
        by the
        Mortgagor thereunder since the origination of the Mortgage Loan;

       

      (5) There
        are
        no delinquent taxes, ground rents, water and municipal charges, sewer rents,
        assessments, leasehold payments, or other outstanding charges that will result
        in a lien prior to, or equal with, the lien of the related
        Mortgage;

       

      (6) The
        terms
        of the Mortgage Note and the Mortgage have not been impaired, waived, altered
        or
        modified in any respect, except by written instruments, recorded, or in the
        process of being recorded, in the applicable public recording office if
        necessary to maintain the lien priority of the Mortgage, and which have been
        delivered or will be delivered to the Custodian on behalf of the Purchaser;
        the
        substance of any such waiver, alteration or modification has been approved
        by
        the insurer under the Primary Insurance Policy or LPMI Policy, if any, and
        the
        title insurer, in each case to the extent required by the related policy,
        and is
        reflected on the related Mortgage Loan Schedule. No instrument of waiver,
        alteration or modification has been executed, and no Mortgagor has been
        released, in whole or in part, except in connection with an assumption agreement
        approved by the insurer under the Primary Insurance Policy or LPMI Policy,
        if
        any, and the title insurer, in each case to the extent required by the policy,
        and which assumption agreement has been delivered to the Custodian and the
        terms
        of which are reflected in the related Mortgage Loan Schedule;

       

      (7) The
        Mortgage Note and the Mortgage are not subject to any right of rescission,
        set-off, counterclaim or defense, including, without limitation, the defense
        of
        usury, nor will the operation of any of the terms of the Mortgage Note and/or
        the Mortgage, or the exercise of any right thereunder, render the Mortgage
        Note
        or the Mortgage unenforceable, in whole or in part, or subject to any right
        of
        rescission, set-off, counterclaim or defense, including the defense of usury
        and
        no such right of rescission, set-off, counterclaim or defense has been asserted
        with respect thereto, and no Mortgagor was a debtor in any state or federal
        bankruptcy or insolvency proceeding at the time the Mortgage Loan was
        originated;

       

      (8) All
        buildings or other improvements upon the Mortgaged Property are insured by
        an
        insurer acceptable to Fannie Mae and Freddie Mac against loss by fire, hazards
        of extended coverage and such other hazards as are customary in the area
        where
        the Mortgaged Property is located, pursuant to insurance policies conforming
        to
        the requirements of the Program Guide. All such insurance policies contain
        a
        standard mortgagee clause naming the Servicer, its successors and assigns
        as
        mortgagee and no premiums thereon are delinquent. If the Mortgaged Property
        is
        in an area identified on a Flood Hazard Map or Flood Insurance Rate Map issued
        by the Federal Emergency Management Agency as having special flood hazards
        (and
        such flood insurance has been made available), a flood insurance policy meeting
        the requirements of the current guidelines of the Federal Insurance
        Administration with a generally acceptable insurance carrier, in the amount
        described in the Program Guide (and to the extent required in the Program
        Guide)
        is in effect, which policy conforms to the requirements of Fannie

      
        
           

        

        
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      Mae
        and
        Freddie Mac. The Mortgage obligates the Mortgagor thereunder to obtain and
        maintain all such insurance at the Mortgagor’s cost and expense, and on the
        Mortgagor’s failure to do so, authorizes the holder of the Mortgage to obtain
        and maintain such insurance at Mortgagor’s cost and expense and to seek
        reimbursement therefor from the Mortgagor. The hazard insurance policy is
        the
        valid and binding obligation of the insurer, is in full force and effect,
        and
        will be in full force and effect and inure to the benefit of the Servicer
        upon
        the consummation of the transactions contemplated by this Agreement. RFC
        has not
        engaged in, and 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 provided for herein, 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 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
        RFC;

       

      (9) Each
        Mortgage Loan and, if any, the related Prepayment Charge complied in all
        material respects with any and all requirements of any federal, state or
        local
        law including, without limitation, usury, truth in lending, real estate
        settlement procedures, consumer credit protection, equal credit opportunity,
        fair housing or disclosure laws; all predatory and abusive lending laws
        applicable to the origination and servicing of mortgage loans of a type similar
        to the Mortgage Loans have been complied with and the consummation of the
        transactions contemplated hereby will not involve the violation of any such
        laws
        or regulations;

       

      (10) The
        Mortgage has not been satisfied, cancelled, subordinated or rescinded, in
        whole
        or in part, and the Mortgaged Property has not been released from the lien
        of
        the Mortgage, in whole or in part, nor has any instrument been executed that
        would effect any such satisfaction, cancellation, subordination, rescission
        or
        release. RFC has not waived the performance by the Mortgagor of any action,
        if
        the Mortgagor’s failure to perform such action would cause the Mortgage Loan to
        be in default, nor has RFC waived any default resulting from any action or
        inaction by the Mortgagor;

      
        
           

        

        
          -10-

          
            

          

        

        
           

        

      

       

      (11) The
        related Mortgage is properly recorded and is a valid, existing and enforceable
        (A) first lien and first priority security interest with respect to each
        Mortgage Loan which is indicated by the Servicer to be a First Lien (as
        reflected on the related Mortgage Loan Schedule), or (B) second lien and
        second
        priority security interest with respect to each Mortgage Loan which is indicated
        by the Servicer to be a Second Lien Mortgage Loan (as reflected on the Mortgage
        Loan Schedule), in either case, on the Mortgaged Property, including all
        buildings and improvements on the Mortgaged Property and all additions,
        alterations and replacements made with respect to the foregoing. The lien
        of the
        Mortgage is subject only to (a) the lien of current real property taxes and
        assessments not yet due and payable, (b) covenants, conditions and restrictions,
        rights of way, easements and other matters of the public record as of the
        date
        of recording that are
        permitted under Accepted Servicing Practices generally and specifically referred
        to in the lender’s title insurance policy delivered upon origination of the
        Mortgage Loan and which do not adversely affect the Value of the Mortgaged
        Property, (c) other matters to which like properties are commonly subject
        which
        do not materially interfere with the benefits of the security intended to
        be
        provided by the Mortgage or the use, enjoyment, value or marketability of
        the
        related Mortgaged Property and (d) with respect to each Mortgage Loan that
        is
        indicated by the Servicer to be a Second Lien Mortgage Loan (as reflected
        on the
        Mortgage Loan Schedule), a First Lien on the Mortgaged Property. Any security
        agreement, chattel mortgage or equivalent document related to and delivered
        in
        connection with the Mortgage Loan establishes and creates a valid, existing
        and
        enforceable (A) first lien and first priority security interest with respect
        to
        each Mortgage Loan which is indicated by the Servicer to be a First Lien
        (as
        reflected on the Mortgage Loan Schedule), or (B) second lien and second priority
        security interest with respect to each Mortgage Loan which is indicated by
        the
        Servicer to be a Second Lien Mortgage Loan (as reflected on the Mortgage
        Loan
        Schedule), in either case, on the property described therein and RFC had
        full
        right to sell and assign the same to the Seller;

       

      (12) The
        Mortgage Note and the related Mortgage are genuine and each is the legal,
        valid
        and binding obligation of the Mortgagor and enforceable by the Purchaser
        against
        such Mortgagor in accordance with its terms, except only as such enforcement
        may
        be limited by bankruptcy, insolvency, reorganization, moratorium or other
        similar laws affecting the enforcement of creditors’ rights generally and by
        law;

       

      (13) All
        parties to the Mortgage Note, the Mortgage and any other related agreement
        had
        legal capacity to enter into the Mortgage Loan, to execute and deliver the
        Mortgage Note, the Mortgage and any other related agreement and to pledge,
        grant
        or convey the interest therein purported to be conveyed, and the Mortgage
        Note,
        the Mortgage and any other related agreement have been duly and properly
        executed by such parties. The Mortgagor is a natural person;

       

      (14) The
        proceeds of the Mortgage Loan have been fully disbursed to or for the account
        of
        the Mortgagor and there is no obligation for the Mortgagee to advance additional
        funds thereunder and any and all requirements as to completion of any on-site
        or
        off-site improvement and as to disbursements of any escrow funds therefor
        have
        been complied with. All costs, fees and expenses incurred in making or closing
        the Mortgage Loan and the recording of the Mortgage have been paid, and the
        Mortgagor is not entitled to any refund of any amounts paid or due to the
        Mortgagee pursuant to the Mortgage Note or Mortgage;

       

      (15) No
        Mortgagor was required to purchase any credit life, disability, accident
        or
        health insurance product as a condition of obtaining the extension of credit.
        No
        Mortgagor obtained a prepaid single premium credit life, disability, accident
        or
        health insurance policy in connection with the origination of the Mortgage
        Loan.
        No proceeds from any Mortgage Loan were used to purchase single-premium credit
        insurance policies;

      
        
           

        

        
          -11-

          
            

          

        

        
           

        

      

       

      (16) Immediately
        prior to the transfer and assignment of the Mortgage Loans by RFC to the
        Seller
        on December 28, 2006 and January 11, 2007, as applicable, in accordance with
        the
        Whole Loan Agreement, RFC held good, marketable and indefeasible title to,
        and
        was the sole legal, beneficial and equitable owner of, the Mortgage Loans.
        RFC
        has not done, by act or omission, anything which would impair the Seller’s good,
        marketable and indefeasible title to the Mortgage Loans since December 28,
        2006
        and January 11, 2007, as applicable. RFC had full right and authority under
        all
        governmental and regulatory bodies having jurisdiction over RFC, subject
        to no
        interest or participation of, or agreement with, any party, to transfer and
        sell
        the Mortgage Loans to the Seller free and clear of any encumbrance or right
        of
        others, equity, lien, pledge, charge, mortgage, claim, participation interest
        or
        security interest of any nature (collectively, a “Lien”)
        and
        immediately upon the transfers and assignments contemplated in the Whole
        Loan
        Agreement, RFC shall have transferred and sold all of its right, title and
        interest in and to each Mortgage Loan and the Seller will hold good, marketable
        and indefeasible title to, and be the owner of, each Mortgage Loan subject
        to no
        Lien other than any Lien arising through the Seller;

       

      (17) All
        parties which have had any interest in the Mortgage Loan, whether as originator,
        mortgagee, assignee, pledgee or otherwise, are (or, during the period in
        which
        they held and disposed of such interest, were): (A) organized under the laws
        of
        such state, or (B) qualified to do business in such state, or (C) federal
        savings and loan associations or national banks having principal offices
        in such
        state, or (D) not doing business in such state so as to require qualification
        or
        licensing, or (E) not otherwise required to be licensed in such state. All
        parties which have had any interest in the Mortgage Loan were in compliance
        with
        any and all applicable “doing business” and licensing requirements of the laws
        of the state wherein the Mortgaged Property is located or were not required
        to
        be licensed in such state;

       

      (18) On
        the
        date of its origination and on the Closing Date, the Mortgage Loan was and
        is
        covered by an American Land Title Association (“ALTA”)
        lender’s title insurance policy (which, in the case of an Adjustable Rate
        Mortgage Loan has an adjustable rate mortgage endorsement in the form of
        ALTA
        6.0 or 6.1) acceptable to Fannie Mae and Freddie Mac, issued by a title insurer
        acceptable to Fannie Mae and Freddie Mac and qualified to do business in
        the
        jurisdiction where the Mortgaged Property is located, insuring (subject to
        the
        exceptions contained above in (11)(a) and (b) and, with respect to each Mortgage
        Loan which is indicated by the Servicer to be a Second Lien Mortgage Loan
        (as
        reflected on the Mortgage Loan Schedule), clause (d)) the Servicer, its
        successors and assigns as to the first priority lien of the Mortgage in the
        original principal amount of the Mortgage Loan and, with respect to any
        Adjustable Rate Mortgage Loan, against any loss by reason of the invalidity
        or
        unenforceability of the lien resulting from the provisions of the Mortgage
        providing for adjustment in the Mortgage Interest Rate and Monthly Payment.
        Additionally, such lender’s title insurance policy affirmatively insures ingress
        and egress to and from the Mortgaged Property, and against encroachments
        by or
        upon the Mortgaged Property or any interest therein. The Servicer is the
        sole
        insured of such lender’s title insurance policy, and such lender’s title
        insurance policy is valid and remains in full force and effect and will be
        in
        full force and effect upon the consummation of the transactions contemplated
        by
        this Agreement. No claims have been made under such lender’s title insurance
        policy, and no prior holder of the related Mortgage, including RFC, has done,
        by
        act or omission, anything which would impair the coverage of such lender’s title
        insurance policy including, without limitation, no unlawful fee, commission,
        kickback or other unlawful compensation or value of any kind has been or
        will be
        received, retained or realized by any attorney, firm or other person or entity,
        and no such unlawful items have been received, retained or realized by
        RFC;

      
        
           

        

        
          -12-

          
            

          

        

        
           

        

      

       

      (19) There
        is
        no default, breach, violation or event of acceleration existing under the
        Mortgage or the Mortgage Note and no event that, with the passage of time
        or
        with notice and the expiration of any grace or cure period, would constitute
        a
        default, breach, violation or event of acceleration, and neither RFC nor
        any
        other entity involved in originating or servicing a Mortgage Loan has waived
        any
        default, breach, violation or event of acceleration. With respect to each
        Mortgage Loan which is indicated by the Servicer to be a Second Lien Mortgage
        Loan (as reflected on the Mortgage Loan Schedule) (i) the First Lien is in
        full
        force and effect, (ii) there is no default, breach, violation or event of
        acceleration existing under such First Lien mortgage or the related mortgage
        note, (iii) no event which, with the passage of time or with notice and the
        expiration of any grace or cure period, would constitute a default, breach,
        violation or event of acceleration thereunder, and either (A) the First Lien
        mortgage contains a provision which allows or (B) applicable law requires,
        the
        mortgagee under the Second Lien Mortgage Loan to receive notice of, and affords
        such mortgagee an opportunity to cure any default by payment in full or
        otherwise under the First Lien mortgage;

       

      (20) There
        are
        no mechanics’ or similar liens or claims which have been filed for work, labor
        or material (and no rights are outstanding that under law could give rise
        to
        such lien) affecting the related Mortgaged Property that are or may be liens
        prior to, or equal or coordinate with, the lien of the related
        Mortgage;

       

      (21) As
        of the
        date of origination of the Mortgage Loan, all improvements which were considered
        in determining the Value of the related Mortgaged Property lay wholly within
        the
        boundaries and building restriction lines of the Mortgaged Property, and
        no
        improvements on adjoining properties encroach upon the Mortgaged
        Property;

       

      (22) Principal
        payments on the Mortgage Loan shall commence (with respect to any newly
        originated Mortgage Loans) or commenced no more than sixty-six (66) days
        after
        the proceeds of the Mortgage Loan were disbursed and, in the case of any
        Mortgage Loan where the monthly payment commenced more than sixty (60) days
        after disbursement, the initial payment required under the Mortgage Loan
        has
        been made. The Mortgage Loan bears interest at the Mortgage Rate. With respect
        to each Mortgage Loan, the Mortgage Note is payable, except as indicated
        on the
        Mortgage Loan Schedule, in Monthly Payments that, in the case of a Fixed
        Rate
        Mortgage Loan, are sufficient to fully amortize the original principal balance
        over the original term thereof, of not more than 40 years, and to pay interest
        at the related Mortgage Rate, and, in the case of an Adjustable Rate Mortgage
        Loan, are changed on each Adjustment Date, and in any case, are sufficient
        to
        fully amortize the original principal balance over the original term thereof
        and
        to pay interest at the related Mortgage Rate. The Index for each Adjustable
        Rate
        Mortgage Loan is as defined in the the Mortgage Loan Schedule. With respect
        to
        each Mortgage Loan identified on the Mortgage Loan Schedule as an interest-only
        Mortgage Loan, the interest-only period shall not exceed the period specified
        on
        the Mortgage Loan Schedule and following the expiration of such interest-only
        period, the remaining Monthly Payments shall be sufficient to fully amortize
        the
        original principal balance over the remaining term of the Mortgage Loan.
        The
        Mortgage Note does not permit negative amortization. No Mortgage Loan is
        a
        convertible Mortgage Loan;

      
        
           

        

        
          -13-

          
            

          

        

        
           

        

      

       

      (23) The
        origination practices used by each originator and collection practices used
        by
        the Servicer with respect to each Mortgage Note and Mortgage have been in
        all
        respects legal, proper, prudent and customary in the mortgage origination
        and
        servicing industry and in accordance with Accepted Servicing Practices. The
        Mortgage Loan has been serviced by the Servicer and any predecessor servicer
        in
        accordance with all applicable laws, rules, regulations and the terms of
        the
        Mortgage Note and Mortgage;

       

      (24) With
        respect to escrow deposits and Escrow Payments (other than with respect to
        each
        Mortgage Loan which is indicated by the Servicer to be a Second Lien Mortgage
        Loan and for which the mortgagee under the First Lien is collecting Escrow
        Payments (as reflected on the Mortgage Loan Schedule)), if any, all such
        payments are in the possession of, or under the control of, the Servicer
        and
        there exist no deficiencies in connection therewith for which customary
        arrangements for repayment thereof have not been made. An escrow of funds
        is not
        prohibited by applicable law with respect to any Mortgage Loan for which
        such
        escrow of funds has been established. No escrow deposits or Escrow Payments
        or
        other charges or payments due the Servicer have been capitalized under any
        Mortgage or the related Mortgage Note and no such escrow deposits or Escrow
        Payments are being held by the Servicer for any work on a Mortgaged Property
        which has not been completed;

       

      (25) All
        Mortgage Interest Rate adjustments have been made in strict compliance with
        state and federal law and the terms of the related Mortgage Note. If, pursuant
        to the terms of the Mortgage Note, another index was selected for determining
        the Mortgage Rate, the same index was used with respect to each Mortgage
        Note
        with the same initial index which required a new index to be selected, and
        such
        selection did not conflict with the terms of the related Mortgage Note. The
        Servicer executed and delivered any and all notices required under applicable
        law and the terms of the related Mortgage Note and Mortgage regarding the
        Mortgage Rate and the monthly payment adjustments. Any interest required
        to be
        paid pursuant to state, federal and local law has been properly paid and
        credited;

       

      (26) The
        Mortgaged Property is undamaged by waste, earthquake or earth movement,
        windstorm, flood, tornado or other casualty, so as to affect adversely the
        value
        of the Mortgaged Property as security for the Mortgage Loan or the use for
        which
        the premises were intended and there is no proceeding pending or threatened
        for
        the total or partial condemnation thereof nor is such a proceeding currently
        occurring;

      
        
           

        

        
          -14-

          
            

          

        

        
           

        

      

       

      (27) The
        Mortgage and related Mortgage Note contain customary and enforceable provisions
        such as to render the rights and remedies of the holder thereof adequate
        for the
        realization against the Mortgaged Property of the benefits of the security
        provided thereby, including, (a) in the case of a Mortgage designated as
        a deed
        of trust, by trustee’s sale, and (b) otherwise by judicial or non-judicial
        foreclosure. Upon default by a Mortgagor on a Mortgage Loan and foreclosure
        on,
        or trustee’s sale of, the Mortgaged Property pursuant to the proper procedures,
        the holder of the Mortgage Loan will be able to deliver good and merchantable
        title to the Mortgaged Property. The Mortgagor has not been subject to any
        bankruptcy proceeding or foreclosure proceeding and the Mortgagor has not
        filed
        for protection under applicable bankruptcy laws except as permitted under
        the
        Program Guide. There is no homestead or other exemption available to the
        Mortgagor which would materially interfere with the right to sell the Mortgaged
        Property at a trustee’s sale or the right to foreclose the Mortgage subject to
        applicable federal and state laws and judicial precedent with respect to
        bankruptcy and rights of redemption. The Mortgagor has not notified the Servicer
        and the Servicer has no knowledge of any relief requested or allowed to the
        Mortgagor under the Servicemembers Civil Relief Act, as amended;

       

      (28) The
        Mortgage Loan was in all material respects underwritten in accordance with
        the
        Program Guide (including any exceptions set forth therein) in effect at the
        time
        the Mortgage Loan was originated;

       

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

       

      (30) The
        Mortgage Note is comprised of one original promissory note;

       

      (31) The
        Mortgage File contains an appraisal of the related Mortgaged Property which
        (A)
        satisfied the standards of Fannie Mae and Freddie Mac, (B) was conducted
        generally in accordance with the Program Guide and included an assessment
        of the
        fair market value of the related Mortgaged Property at the time of such
        appraisal, and (C) was made and signed, prior to the approval of the Mortgage
        Loan application, by a qualified appraiser, duly appointed by RFC, who had
        no
        interest, direct or indirect in the Mortgaged Property or in any loan made
        on
        the security thereof, whose compensation is not affected by the approval
        or
        disapproval of the Mortgage Loan and who met the minimum qualifications of
        Fannie Mae and Freddie Mac. Each appraisal of the Mortgage Loan was made
        in
        accordance with the relevant provisions of the Financial Institutions Reform,
        Recovery, and Enforcement Act of 1989;

       

      (32) In
        the
        event the Mortgage constitutes a deed of trust, a trustee, duly qualified
        under
        applicable law to serve as such, has been properly designated and currently
        so
        serves and is named in the Mortgage, and no fees or expenses are or will
        become
        payable by the Purchaser to the trustee under the deed of trust, except in
        connection with a trustee’s sale after default by the Mortgagor;

      
        
           

        

        
          -15-

          
            

          

        

        
           

        

      

       

      (33) No
        Mortgage Loan contains provisions pursuant to which Monthly Payments are
        (a)
        paid or partially paid with funds deposited in any separate account established
        by RFC, the Mortgagor, or anyone on behalf of the Mortgagor, (b) paid by
        any
        source other than the Mortgagor or (c) contains any other similar provisions
        which may constitute a “buydown” provision. The Mortgage Loan is not a graduated
        payment mortgage loan and the Mortgage Loan does not have a shared appreciation
        or other contingent interest feature;

       

      (34) To
        the
        extent required by law and the Program Guide, the Mortgagor has executed
        a
        statement to the effect that the Mortgagor has received all disclosure materials
        required by all applicable law with respect to the making of fixed rate mortgage
        loans in the case of Fixed Rate Mortgage Loans, and adjustable rate mortgage
        loans in the case of Adjustable Rate Mortgage Loans and rescission materials
        with respect to Refinanced Mortgage Loans, and such statement is and will
        remain
        in the Mortgage File;

       

      (35) No
        Mortgage Loan was made for the purpose of (a) a construction loan or
        rehabilitation of a Mortgaged Property or (b) facilitating the trade-in or
        exchange of a Mortgaged Property;

       

      (36) To
        the
        best of RFC’s knowledge, the Mortgaged Property is lawfully occupied under
        applicable law; all inspections, licenses and certificates required to be
        made
        or issued with respect to all occupied portions of the Mortgaged Property
        and,
        with respect to the use and occupancy of the same, including but not limited
        to
        certificates of occupancy and fire underwriting certificates, have been made
        or
        obtained from the appropriate authorities. No improvement located on or being
        part of any Mortgaged Property is in violation of any applicable zoning law
        or
        regulation. To the best of RFC’s knowledge and with respect to each Mortgage
        Loan that is covered by a Primary Mortgage Insurance Policy, the improvement(s)
        located on or being part of the related Mortgaged Property were constructed
        in
        accordance with the specifications set forth in the original construction
        plans;

       

      (37) No
        error,
        omission, misrepresentation, negligence or fraud with respect to the
        origination, modification or amendment of any Mortgage Loan has taken place
        on
        the part of any person, including without limitation the Mortgagor, any
        appraiser, any builder or developer, or any other party involved in the
        origination of the Mortgage Loan or in the application of any insurance in
        relation to such Mortgage Loan. RFC has reviewed all of the documents
        constituting the Mortgage File and has made such inquiries as it deems necessary
        to make and confirm the accuracy of the representations set forth
        herein;

       

      (38) Each
        original Mortgage was recorded and all subsequent assignments of the original
        Mortgage (other than the assignment to the Purchaser) have been recorded,
        or are
        in the process of being recorded, in the appropriate jurisdictions wherein
        such
        recordation is necessary to perfect the lien thereof as against creditors
        of
        RFC. The Assignment of Mortgage is in recordable form and is acceptable for
        recording under the laws of the jurisdiction in which the Mortgaged Property
        is
        located;

      
        
           

        

        
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      (39) Any
        principal advances made to the Mortgagor after the date of origination of
        a
        Mortgage Loan but prior to the Cut-off Date have been consolidated with the
        outstanding principal amount secured by the Mortgage, and the secured principal
        amount, as consolidated, bears a single interest rate and single repayment
        term
        reflected on the Mortgage Loan Schedule. The lien of the Mortgage securing
        the
        consolidated principal amount is expressly insured as having (A) first lien
        priority with respect to each Mortgage Loan which is indicated by the Servicer
        to be a First Lien (as reflected on the Mortgage Loan Schedule) or (B) second
        lien priority with respect to each Mortgage Loan which is indicated by the
        Servicer to be a Second Lien Mortgage Loan (as reflected on the Mortgage
        Loan
        Schedule), in either case, by a title insurance policy, an endorsement to
        the
        policy insuring the mortgagee’s consolidated interest or by other title evidence
        acceptable to Fannie Mae and Freddie Mac. The consolidated principal amount
        does
        not exceed the original principal amount of the related Mortgage
        Loan;

       

      (40) Except
        as
        specified in the Mortgage Loan Schedule, no Mortgage Loan has a balloon payment
        feature;

       

      (41) Each
        Mortgaged Property consists of a fee simple or leasehold interest in a single
        parcel of real property improved by a Residential Dwelling. If the Residential
        Dwelling on the Mortgaged Property is a condominium unit or a unit in a planned
        unit development (other than a de minimis planned unit development) such
        condominium or planned unit development project meets the eligibility
        requirements of Fannie Mae and Freddie Mac;

       

      (42) With
        respect to each Mortgage Loan secured by a manufactured home: (A) the
        manufactured home is permanently affixed to a foundation which is suitable
        for
        the soil conditions of the site; (B) all foundations, both perimeter and
        interior, have footings that are located below the frost line; (C) any wheels,
        axles and trailer hitches are removed from such manufactured home; and (D)
        the
        related Mortgage Loan is covered under a standard real estate title insurance
        policy that identifies the manufactured home as part of the real property
        and
        insures or indemnifies against any loss if the manufactured home is determined
        not to be part of the real property;

       

      (43) Each
        Mortgage Loan originated in the state of Texas pursuant to Article XVI,
        Section 50(a)(6) of the Texas Constitution (a “Texas
        Refinance Loan”)
        has
        been originated in compliance with the provisions of Article XVI, Section
        50(a)(6) of the Texas Constitution, Texas Civil Statutes and the Texas Finance
        Code. With respect to each Texas Refinance Loan that is a Cash Out Refinancing,
        the related Mortgage Loan Documents state that the Mortgagor may prepay such
        Texas Refinance Loan in whole or in part without incurring a Prepayment Charge.
        RFC does not collect any such Prepayment Charges in connection with any such
        Texas Refinance Loan;

       

      (44) Interest
        on each Mortgage Loan is calculated on the basis of a 360-day year consisting
        of
        twelve 30-day months;

      
        
           

        

        
          -17-

          
            

          

        

        
           

        

      

       

      (45) There
        is
        no pending action or proceeding directly involving the Mortgaged Property
        in
        which compliance with any environmental law, rule or regulation is an issue;
        there is no violation of any environmental law, rule or regulation with respect
        to the Mortgaged Property; and nothing further remains to be done to satisfy
        in
        full all requirements of each such law, rule or regulation constituting a
        prerequisite to use and enjoyment of said property;

       

      (46) RFC
        shall, at its own expense, cause each Mortgage Loan to be covered by a “life of
        loan” Tax Service Contract which is assignable to the Purchaser or its designee
        at no cost to the Purchaser or its designee; provided,
        however,
        that if
        RFC fails to purchase such Tax Service Contract, RFC shall be required to
        reimburse the Purchaser for all costs and expenses incurred by the Purchaser
        in
        connection with the purchase of any such Tax Service Contract;

       

      (47) Each
        Mortgage Loan is covered by a “life of loan” Flood Zone Service Contract which
        is assignable to the Purchaser or its designee at no cost to the Purchaser
        or
        its designee or, for each Mortgage Loan not covered by such Flood Zone Service
        Contract, RFC agrees to purchase such Flood Zone Service Contract;

       

      (48) None
        of
        the Mortgage Loans are classified as (a) “high cost” loans under the Home
        Ownership and Equity Protection Act of 1994 or (b) “high cost,” “threshold,”
“covered” or “predatory” loans under any other applicable federal, state or
        local law (including without limitation any regulation or ordinance) (or
        a
        similarly classified loan using different terminology under a law imposing
        heightened regulatory scrutiny or additional legal liability for residential
        mortgage loans having high interest rates, points and/or fees);

       

      (49) [reserved];

       

      (50) The
        Servicer and any predecessor servicer with respect to a Mortgage Loan has
        fully
        furnished, in accordance with the Fair Credit Reporting Act and its implementing
        regulations and Accepted Servicing Practices, accurate and complete information
        (e.g., favorable and unfavorable) on its borrower credit files to Equifax,
        Experian and Trans Union Credit Information Company (three of the credit
        repositories), on a monthly basis;

       

      (51) Each
        First Lien Mortgage Loan identified on the Mortgage Loan Schedule as subject
        to
        a primary mortgage insurance policy will be subject to a primary mortgage
        insurance policy, issued by a qualified insurer, which insures that portion
        of
        the Mortgage Loan in excess of the portion of the Value of the Mortgaged
        Property required by Fannie Mae. All provisions of such primary mortgage
        insurance policy have been and are being complied with, such policy is in
        full
        force and effect, and all premiums due thereunder have been paid. Any First
        Lien
        Mortgage subject to any such primary mortgage insurance policy obligates
        the
        Mortgagor thereunder to maintain such insurance and to pay all premiums and
        charges in connection therewith upon the terms specified in the Program Guide.
        The Mortgage Rate for the Mortgage Loan does not include any such insurance
        premium;

      
        
           

        

        
          -18-

          
            

          

        

        
           

        

      

       

      (52) RFC
        has
        verified the source of the down payment in accordance with the Program Guide
        with respect to each Mortgage Loan;

       

      (53) Each
        Mortgage Loan constitutes a “qualified mortgage” under
        Section 860G(a)(3)(A) of the Code and Treasury Regulation Section
        1.860G-2(a)(1);

       

      (54) Each
        Mortgage Loan has a valid and original Credit Score of not less than
        500;

       

      (55) Each
        Mortgage Loan was originated on or after the date set forth in the Mortgage
        Loan
        Schedule;

       

      (56) No
        Mortgage Loan had an original term to maturity of more than thirty (30) years,
        unless otherwise set forth in the Mortgage Loan Schedule;

       

      (57) No
        Mortgagor is the obligor on more than two Mortgage Notes;

       

      (58) Each
        Mortgagor has a debt-to-income ratio of less than or equal to 55%, unless
        otherwise set forth in the Mortgage Loan Schedule;

       

      (59) Each
        Mortgage contains a provision for the acceleration of the payment of the
        unpaid
        principal balance of the related Mortgage Loan in the event the related
        Mortgaged Property is sold without the prior consent of the mortgagee thereunder
        and to the best of RFC’s knowledge, such provision is enforceable;

       

      (60) With
        respect to each Mortgage Loan which is a Second Lien, (i) the related first
        lien
        does not provide for negative amortization and (ii) either no consent for
        the
        Mortgage Loan is required by the holder of the first lien or such consent
        has
        been obtained and is contained in the Mortgage File;

       

      (61) No
        Mortgage Loan is a “Specifically Designated National and Blocked Person” as
        designated by the Office of Foreign Assets Control or as a person designated
        in
        Presidential Executive Order 13224 (the “Executive
        Order”)
        as a
        person who commits, threatens to commit, or supports terrorism; no Mortgage
        Loan
        is subject to nullification pursuant to the Executive Order or the regulations
        promulgated by the Office of Foreign Assets Control of the United States
        Department of the Treasury (the “OFAC
        Regulations”)
        or in
        violation of the Executive Order or the OFAC Regulations,

       

      (62) No
        Mortgage Loan has a Prepayment Charge longer than three years after its
        origination. Any Prepayment Charge is in an amount equal to or less than
        the
        lesser of (a) the maximum amount permitted under applicable state law, and
        (b)
        if the Mortgaged Property is secured by residential real property located
        in a
        state other than Arizona, Maine, Massachusetts, New York, South Carolina
        or
        Wisconsin, six months interest on the related prepaid amount;

       

      (63) The
        Mortgage Loan documents with respect to each Mortgage Loan subject to Prepayment
        Charges specifically authorize such Prepayment Charges to be collected and
        such
        Prepayment Charges are permissible and enforceable in accordance with the
        terms
        of the related Mortgage Loan documents and applicable law (except to the
        extent
        that the enforceability thereof may be limited by bankruptcy, insolvency,
        moratorium, receivership and other similar laws relating to creditors’ rights
        generally or the collectability thereof may be limited due to acceleration
        in
        connection with a foreclosure);

      
        
           

        

        
          -19-

          
            

          

        

        
           

        

      

       

      (64) The
        Mortgaged Property is located in the state identified in the Mortgage Loan
        Schedule and consists of a single parcel of real property with a detached
        single
        family residence erected thereon, or a two- to four-family dwelling, or an
        individual condominium unit in a condominium project, or an individual unit
        in a
        planned unit development or a de minimis planned unit development which is
        in
        each case four stories or less. As of the date of origination, no portion
        of the
        Mortgaged Property was used for commercial purposes, and since the date of
        origination, no portion of the Mortgaged Property has been used for commercial
        purposes; provided, that Mortgaged Properties which contain a home office
        shall
        not be considered as being used for commercial purposes as long as the Mortgaged
        Property has not been altered for commercial purposes and is not storing
        any
        chemicals or raw materials other than those commonly used for homeowner repair,
        maintenance and/or household purposes;

       

      (65) With
        respect to Adjustable Rate Mortgage Loans, the Index set forth in the Mortgage
        Note is LIBOR, unless otherwise set forth in the related Mortgage Loan
        Schedule;

       

      (66) With
        respect to each Adjustable Rate Mortgage Loan, the Mortgage Loan documents
        provide that after the related first Adjustment Date, a related Mortgage
        Loan
        may only be assumed if the party assuming such Mortgage Loan meets certain
        credit requirements stated in the Mortgage Loan documents;

       

      (67) To
        the
        best of RFC’s knowledge, no action has been taken or failed to be taken, no
        event has occurred and no state of facts exists or has existed on or prior
        to
        the Closing Date (whether or not known to RFC on or prior to such date) which
        has resulted or will result in an exclusion from, denial of, or defense to
        coverage under any primary mortgage insurance, if any (including, without
        limitation, any exclusions, denials or defenses which would limit or reduce
        the
        availability of the timely payment of the full amount of the loss otherwise
        due
        thereunder to the insured) whether arising out of actions, representations,
        errors, omissions, negligence, or fraud of RFC, the related Mortgagor or
        any
        party involved in the application for such coverage, including the appraisal,
        plans and specifications and other exhibits or documents submitted therewith
        to
        the insurer under such insurance policy, or for any other reason under such
        coverage, but not including the failure of such insurer to pay by reason
        of such
        insurer’s breach of such insurance policy or such insurer’s financial inability
        to pay;

       

      (68) With
        respect to each Mortgage requiring Escrow Payments, RFC has within the last
        twelve months (unless such Mortgage was originated within such twelve month
        period) analyzed the required Escrow Payments for each Mortgage and adjusted
        the
        amount of such payments so that, assuming all required payments are timely
        made,
        any deficiency will be eliminated on or before the first anniversary of such
        analysis, or any overage will be refunded to the Mortgagor, in accordance
        with
        RESPA and any other applicable law;

      
        
           

        

        
          -20-

          
            

          

        

        
           

        

      

       

      (69) As
        to
        each consumer report (as defined in the Fair Credit Reporting Act, Public
        Law
        91-508) or other credit information furnished by RFC to the Purchaser, that
        RFC
        has full right and authority and is not precluded by law or contract from
        furnishing such information to the Purchaser;

       

      (70) If
        the
        Mortgage Loan is secured by a long-term residential lease, (1) the lessor
        under
        the lease holds a fee simple interest in the land; (2) the terms of such
        lease
        expressly permit the mortgaging of the leasehold estate, the assignment of
        the
        lease without the lessor’s consent 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
        protections; (3) the terms of such lease do not (a) allow the termination
        thereof upon the lessee’s default without the holder of the Mortgage being
        entitled to receive written notice of, and opportunity to cure, such default,
        (b) allow the termination of the lease in the event of damage or destruction
        as
        long as the Mortgage is in existence, (c) prohibit the holder of the Mortgage
        from being insured (or receiving proceeds of insurance) under the hazard
        insurance policy or policies relating to the Mortgaged Property or (d) permit
        any increase in rent other than pre-established increases set forth in the
        lease; (4) the original term of such lease is not less than 15 years; (5)
        the
        term of such lease does not terminate earlier than ten years after the maturity
        date of the Mortgage Note; and (6) the Mortgaged Property is located in a
        jurisdiction in which the use of leasehold estates in transferring ownership
        in
        residential properties is a generally accepted practice;

       

      (71) [reserved];

       

      (72) To
        the
        best of RFC’s knowledge, with respect to each Second Lien Mortgage Loan, the
        related first lien mortgage loan is in full force and effect, and there is
        no
        default, breach, violation or event which would permit acceleration existing
        under such first lien mortgage or mortgage note, and no event which, with
        the
        passage of time or with notice and the expiration of any grace or cure period,
        would constitute a default, breach, violation or event which would permit
        acceleration thereunder;

       

      (73) With
        respect to each Second Lien Mortgage Loan, the related first lien mortgage
        contains a provision which provides for giving notice of default or breach
        to
        the mortgagee under such Second Lien Mortgage Loan and allows such mortgagee
        to
        cure any default under the related first lien mortgage;

       

      (74) No
        Mortgage Loan is a High Cost Loan or Covered Loan, as applicable (as such
        terms
        are defined in Appendix E - Standard & Poor’s Anti-Predatory Lending
        Categorization (attached hereto as Exhibit 1));

       

      (75) No
        predatory or deceptive lending practices, including but not limited to, the
        extension of credit to a mortgagor without regard for the mortgagor’s ability to
        repay the Mortgage Loan and the extension of credit to a mortgagor which
        has no
        apparent benefit to the mortgagor, were employed in connection with the
        origination of the Mortgage Loan;

      
        
           

        

        
          -21-

          
            

          

        

        
           

        

      

       

      (76) No
        Mortgage Loan is (a) subject to, covered by or in violation of the provisions
        of
        the Homeownership and Equity Protection Act of 1994, as amended, (b) a “high
        cost”, “covered”, “abusive”, “predatory”, “home loan”, “Oklahoma Section 10” or
“high risk” mortgage loan (or a similarly designated loan using different
        terminology) under any federal, state or local law, including without
        limitation, the provisions of the Georgia Fair Lending Act, New York Banking
        Law, Section 6-1, the Arkansas Home Loan Protection Act, effective as of
        June
        14, 2003, Kentucky State Statute KRS 360.100, effective as of June 25, 2003,
        the
        New Jersey Home Ownership Security Act of 2002 (the “NJ Act”), the New Mexico
        Home Loan Protection Act (N.M. Stat. Ann. §§ 58-21A-1 et seq.), the Illinois
        High-Risk Home Loan Act (815 Ill. Comp. Stat. 137/1 et seq.), the Oklahoma
        Home
        Ownership and Equity Protection Act, Nevada Assembly Bill No. 284, effective
        as
        of Oct. 1, 2003, the Minnesota Residential Mortgage Originator and Servicer
        Licensing Act (MN Stat. §58.137), the South Carolina High-Cost and Consumer Home
        Loans Act, effective January 1, 2004, the Massachusetts Predatory Home Loan
        Practices Act, effective November 7, 2004 (Mass. Ann. Laws Ch. 183C), the
        Indiana Home Loan Practices Act, effective January 1, 2005 (Ind. Code Ann.
        §24-9-1 through §24-9-9) or any other statute or regulation providing assignee
        liability to holders of such mortgage loans, or (c) subject to or in violation
        of any such or comparable federal, state or local statutes or
        regulations;

       

      (77) No
        Mortgage Loan originated or modified on or after October 1, 2002 and prior
        to
        March 7, 2003 is secured by a Mortgaged Property located in the State of
        Georgia;

       

      (78) The
        methodology used in underwriting the extension of credit for each Mortgage
        Loan
        employs objective mathematical principles which relate the Mortgagor’s income,
        assets and liabilities to the proposed payment and such underwriting methodology
        does not rely on the extent of the Mortgagor’s equity in the collateral as the
        principal determining factor in approving such credit extension. Such
        underwriting methodology confirmed that at the time of origination
        (application/approval) the Mortgagor had a reasonable ability to make timely
        payments on the Mortgage Loan;

       

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

       

      (80) Except
        as
        indicated in the Mortgage Loan Schedule, no Mortgage Loan is a “manufactured
        housing loan” pursuant to the NJ Act, and one hundred percent of the amount
        financed of any purchase money Second Lien Mortgage Loan subject to the NJ
        Act
        was used for the purchase of the related Mortgaged Property;

       

      (81) With
        respect to any Mortgage Loan for which a mortgage loan application was submitted
        by the Mortgagor after April 1, 2004, no such Mortgage Loan secured by a
        Mortgage Property located in the State of Illinois is in violation of the
        provisions of the Illinois Interest Act, including Section 4.1a which provides
        that no such Mortgage Loan with a Mortgage Rate in excess of 8.0% per annum
        has
        lender-imposed fees (or other charges) in excess of 3.0% of the original
        principal balance of the Mortgage Loan;

      
        
           

        

        
          -22-

          
            

          

        

        
           

        

      

       

      (82) Immediately
        prior to the payment of the Purchase Price set forth in the Commitment Letter
        dated December 22, 2006 between the Seller and RFC for each Mortgage Loan,
        RFC
        had good title to and was the sole legal owner of the related Mortgage and
        the
        indebtedness evidenced by the related Mortgage Note;

       

      (83) No
        Mortgage Loan originated on or after November 7, 2004 secured by a Mortgaged
        Property located in the State of Massachusetts is a Refinanced Mortgage
        Loan;

       

      (84) With
        respect to any Mortgage Loan originated on or after August 1, 2004, neither
        the
        related Mortgage nor the related Mortgage Note requires the borrower to submit
        to arbitration to resolve any dispute arising out of or relating in any way
        to
        the Mortgage Loan;

       

      (85) With
        respect to each Mortgage Loan that is secured by a ground lease of the related
        Mortgaged Property:

       

      
        	 	
                (i)

              	
                The
                  Mortgagor is the owner of a valid and subsisting interest as tenant
                  under
                  the ground lease;

              

      

       

      
        	 	
                (ii)

              	
                The
                  ground lease is in full force and effect, unmodified and not supplemented
                  by any writing or otherwise;

              

      

       

      
        	 	
                (iii)

              	
                The
                  Mortgagor is not in default under any of the terms thereof and
                  there are
                  no circumstances which, with the passage of time or the giving
                  of notice
                  or both, would constitute an event of default
                  thereunder;

              

      

       

      
        	 	
                (iv)

              	
                The
                  lessor under the ground lease is not in default under any of the
                  terms or
                  provisions thereof on the part of the lessor to be observed or
                  performed;

              

      

       

      
        	 	
                (v)

              	
                The
                  term of the ground lease exceeds the maturity date of the related
                  Mortgage
                  Loan by at least ten years;

              

      

       

      
        	 	
                (vi)

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

              

      

       

      
        	 	
                (vii)

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

              

      

       

       

      
        
           

        

        
          -23-

          
            

          

        

        
           

        

      

       

      
        	 	
                (viii)

              	
                The
                  execution, delivery and performance of the Mortgage do not require
                  the
                  consent (other than those consents which have been obtained and
                  are in
                  full force and effect) under, and will not contravene any provision
                  of or
                  cause a default under, the ground lease;
                  and

              

      

       

      
        	 	
                (ix)

              	
                The
                  ground lease provides that the leasehold can be transferred, mortgaged
                  and
                  sublet an unlimited number of times either without restriction
                  or on
                  payment of a reasonable fee and delivery of reasonable documentation
                  to
                  the lessor.

              

      

       

      (86) None
        of
        the Mortgaged Properties related to Mortgage Loans originated after August
        31,
        2006 are located in Cook County, Illinois;

       

      (87) No
        single
        borrower has a Mortgage Loan on multiple Mortgaged Properties;

       

      (88) Except
        as
        set forth in the related Commitment Letter, monthly payments on the Mortgage
        Loan commenced no more than sixty-six (66) days after the proceeds of the
        Mortgage Loan were disbursed and, in the case of any Mortgage Loan where
        the
        monthly payment commenced more than sixty (60) days after disbursement, the
        initial payment required under the Mortgage Loan has been made. With respect
        to
        each Mortgage Loan, the Mortgage Note is payable each month on the day
        identified on the Mortgage Loan Schedule in monthly payments, which, except
        with
        respect to any Mortgage Loan which is identified on the Mortgage Loan Schedule
        as a balloon mortgage loan (each, a “Balloon Mortgage Loan”), in the case of a
        fixed rate Mortgage Loan, are sufficient to fully amortize the original
        principal balance over the original term thereof and to pay interest at the
        related Mortgage Interest Rate, and in the case of an adjustable rate Mortgage
        Loan, are changed on each Adjustment Date, and in any case, are sufficient
        to
        fully amortize the original principal balance over the original term thereof
        and
        to pay interest at the related Mortgage Interest Rate. In the case of a Balloon
        Mortgage Loan, the Mortgage Note is payable in monthly payments based on
        an
        amortization schedule not greater than fifty (50) years and a final monthly
        payment substantially greater than the preceding monthly payment which is
        sufficient to amortize the remaining principal balance of the Balloon Mortgage
        Loan. No adjustable rate Mortgage Loan is convertible to a fixed rate Mortgage
        Loan. The Mortgage Note does not permit negative amortization.

       

      Section
        7. Repurchase
        Obligation for Defective Documentation and for Breach of Representation and
        Warranty.

       

      (a) The
        representations and warranties contained in Section 6 shall not be impaired
        by
        any review and examination of Mortgage Files or any failure on the part of
        the
        Seller or the Purchaser to review or examine such documents and shall inure
        to
        the benefit of any assignee, transferee or designee of the Purchaser, including
        the Trustee for the benefit of holders of the Certificates.

      
        
           

        

        
          -24-

          
            

          

        

        
           

        

      

       

      Upon
        discovery by the Seller, the Purchaser or any assignee, transferee or designee
        of the Purchaser of any materially defective document in, or that any material
        document was not transferred by or at the direction of the Seller (as listed
        on
        the Trustee’s Preliminary Exception Report) as part of any Mortgage File, or of
        a breach of any of the representations and warranties contained in Section
        6
        that materially and adversely affects the value of any Mortgage Loan or the
        interest therein of the Purchaser or the Purchaser’s assignee, transferee or
        designee, the party discovering such breach shall give prompt written notice
        to
        the Seller (in the case of a missing document) or RFC and the Seller (in
        the
        case of a breach of any of the representations and warranties contained in
        Section 6). Within sixty (60) days of its discovery or its receipt of notice
        of
        any such missing documentation that was not transferred to the Purchaser
        as
        described above, or of materially defective documentation, or of any such
        breach
        of a representation and warranty, RFC or the Seller (or their related designee),
        as applicable, promptly shall deliver such missing document or cure such
        defect
        or breach in all material respects or, in the event RFC or the Seller (or
        their
        related designee) cannot deliver such missing document or cannot cure such
        defect or breach, RFC or the Seller, as applicable, shall, within ninety
        (90)
        days of its discovery or receipt of notice, either (i) repurchase the affected
        Mortgage Loan at the Purchase Price or (ii) pursuant to the provisions of
        the
        Pooling and Servicing Agreement, cause the removal of such Mortgage Loan
        from
        the Trust Fund and substitute one or more Qualified Substitute Mortgage Loans.
        RFC or the Seller, as applicable, shall amend the Closing Schedule to reflect
        the withdrawal of such Mortgage Loan from the terms of this Agreement and
        the
        Pooling and Servicing Agreement. RFC or the Seller, as applicable, shall
        deliver
        to the Purchaser such amended Closing Schedule and shall deliver such other
        documents as are required by this Agreement or the Pooling and Servicing
        Agreement within five (5) days of any such amendment. Any repurchase pursuant
        to
        this Section 7(a) shall be accomplished by transfer to an account designated
        by
        the Purchaser of the amount of the Purchase Price in accordance with Section
        2.03 of the Pooling and Servicing Agreement. Any repurchase required by this
        Section shall be made in a manner consistent with Section 2.03 of the Pooling
        and Servicing Agreement.

       

      Notwithstanding
        the foregoing, within 90 days of the earlier of discovery by RFC or receipt
        of
        notice by RFC of the breach of the representation of RFC set forth in Schedule
        A
        hereto which materially and adversely affects the interests of the Holders
        of
        the Class P Certificates in any Prepayment Charge, RFC shall pay the amount
        of
        the scheduled Prepayment Charge, for the benefit of the Holders of the Class
        P
        Certificates by remitting such amount to the Servicer for deposit into the
        Custodial Account, net of any amount previously collected by the Servicer
        or
        paid by the Servicer, for the benefit of the Holders of the Class P Certificates
        in respect of such Prepayment Charge.

       

      (b) Notwithstanding
        the foregoing, with respect to an alleged breach of a representation and
        warranty which breach is covered by a title insurance policy, the Purchaser
        shall use reasonable efforts to enforce the provisions of any related title
        insurance policy prior to seeking a remedy against RFC or the Seller
        hereunder.

       

      (c) It
        is
        understood and agreed that the obligations of RFC or the Seller set forth
        in
        this Section 7 to cure or repurchase a defective Mortgage Loan constitute
        the
        sole remedies of the Purchaser against RFC or the Seller respecting a missing
        document or a breach of the representations and warranties contained in Section
        6.

      
        
           

        

        
          -25-

          
            

          

        

        
           

        

      

       

      Section
        8. Closing;
        Payment for the Mortgage Loans.
        The
        closing of the purchase and sale of the Mortgage Loans shall be held at the
        New
        York City office of Mayer, Brown, Rowe & Maw LLP at 10:00 a.m. New York City
        time on the Closing Date.

       

      The
        closing shall be subject to each of the following conditions:

       

      (a) All
        of
        the representations and warranties of the Seller and RFC under this Agreement
        shall be true and correct in all material respects as of the date as of which
        they are made and no event shall have occurred which, with notice or the
        passage
        of time, would constitute a default under this Agreement;

       

      (b) The
        Purchaser shall have received, or the attorneys of the Purchaser shall have
        received in escrow (to be released from escrow at the time of closing), all
        Closing Documents as specified in Section 9 of this Agreement, in such forms
        as
        are agreed upon and acceptable to the Purchaser, duly executed by all
        signatories other than the Purchaser as required pursuant to the respective
        terms thereof;

       

      (c) The
        Seller shall have delivered or caused to be delivered and released to the
        Purchaser or to its designee, all documents (including without limitation,
        the
        Mortgage Loans) required to be so delivered by the Purchaser pursuant to
        Section
        2.01 of the Pooling and Servicing Agreement; and

       

      (d) All
        other
        terms and conditions of this Agreement and the Pooling and Servicing Agreement
        shall have been complied with.

       

      Subject
        to the foregoing conditions, the Purchaser shall deliver or cause to be
        delivered to the Seller on the Closing Date, against delivery and release
        by the
        Seller to the Trustee of all documents required pursuant to the Pooling and
        Servicing Agreement, the consideration for the Mortgage Loans as specified
        in
        Section 3 of this Agreement, by delivery to the Seller of the Purchase
        Price.

       

      Section
        9. Closing
        Documents.
        Without
        limiting the generality of Section 8 hereof, the closing shall be subject
        to
        delivery of each of the following documents:

       

      (a) An
        Officer’s Certificate of the Seller, dated the Closing Date, in form
        satisfactory to and upon which the Purchaser and Citigroup Global Markets
        Inc.
        (the “Representative”) may rely, and attached thereto copies of the certificate
        of formation, limited partnership agreement and certificate of good standing
        of
        the Seller;

       

      (b) An
        Opinion of Counsel of the Seller, dated the Closing Date, in form satisfactory
        to and addressed to the Purchaser and the Representative;

       

      (c) An
        Officer’s Certificate of RFC, dated the Closing Date, in form satisfactory to
        and upon which the Purchaser and the Representative may rely, and attached
        thereto copies of the certificate of formation, limited liability company
        agreement and certificate of good standing of RFC;

       

       (d) Such
        opinions of counsel of RFC required by the Whole Loan Agreement;

      
        
           

        

        
          -26-

          
            

          

        

        
           

        

      

       

      (e) Such
        opinions of counsel as the Rating Agencies or the Trustee may request in
        connection with the sale of the Mortgage Loans by the Seller to the Purchaser
        or
        the Seller’s execution and delivery of, or performance under, this
        Agreement;

       

      (f) A
        letter
        from Deloitte & Touche LLP, certified public accountants, to the effect that
        they have performed certain specified procedures as a result of which they
        determined that certain information of an accounting, financial or statistical
        nature set forth in the Purchaser’s prospectus supplement for Series 2007-RFC1,
        dated January 22, 2007 (the “Prospectus Supplement”) relating to the Offered
        Certificates contained under the captions “Summary—The Mortgage Pool,” “Legal
        Proceedings,” “Risk Factors,” (to the extent of information concerning the
        Mortgage Loans contained therein) and “Description of the Mortgage Pool” agrees
        with the records of RFC; and

       

      (g) Such
        further information, certificates, opinions and documents as the Purchaser
        or
        the Representative may reasonably request.

       

      Section
        10. Costs.
        The
        Seller shall pay (or shall reimburse the Purchaser or any other Person to
        the
        extent that the Purchaser or such other Person shall pay) all costs and expenses
        incurred in connection with the transfer and delivery of the Mortgage Loans,
        including without limitation, recording fees, fees for title policy endorsements
        and continuations and, except as set forth in Section 4(b), the fees for
        recording Assignments.

       

      The
        Seller shall pay (or shall reimburse the Purchaser or any other Person to
        the
        extent that the Purchaser or such other Person shall pay) the fees and expenses
        of the Seller’s accountants and attorneys, the costs and expenses incurred in
        connection with producing the Servicer’s or any Subservicer’s loan loss,
        foreclosure and delinquency experience, the costs and expenses incurred in
        connection with obtaining the documents referred to in Section 9, the costs
        and
        expenses of printing (or otherwise reproducing) and delivering this Agreement,
        the Pooling and Servicing Agreement, the Certificates, the prospectus and
        Prospectus Supplement, and any private placement memorandum relating to the
        Certificates and other related documents, the initial fees, costs and expenses
        of the Trustee, the fees and expenses of the Purchaser’s counsel in connection
        with the preparation of all documents relating to the securitization of the
        Mortgage Loans, the filing fee charged by the Securities and Exchange Commission
        for registration of the Certificates, the cost of outside special counsel
        that
        may be required by RFC and the fees charged by any rating agency to rate
        the
        Certificates. All other costs and expenses in connection with the transactions
        contemplated hereunder shall be borne by the party incurring such
        expense.

       

      Section
        11. [Reserved].

       

      Section
        12. [Reserved].

       

      Section
        13. Intent
        of Parties, Mandatory Delivery; Grant of Security Interest.
        The
        sale of the Mortgage Loans as contemplated hereby is absolute and is intended
        by
        both the Seller and the Purchaser to constitute a sale of such Mortgage Loans
        by
        the Seller to the Purchaser. The sale and delivery on the Closing Date of
        the
        Mortgage Loans described on the Mortgage Loan Schedule in accordance with
        the
        terms and conditions of this Agreement is mandatory. It is specifically
        understood and agreed that each Mortgage Loan is unique and identifiable
        on the
        date hereof and that an award of money damages would be insufficient to
        compensate the Purchaser for the losses and damages incurred by the Purchaser
        in
        the event of the Seller’s failure to deliver the Mortgage Loans on or before the
        Closing Date. The Seller hereby grants to the Purchaser a lien on and a
        continuing security interest in the Seller’s interest in each Mortgage Loan and
        each document and instrument evidencing each such Mortgage Loan to secure
        the
        performance by the Seller of its obligation hereunder, and the Seller agrees
        that it holds such Mortgage Loans in custody for the Purchaser, subject to
        the
        Purchaser’s (i) right, prior to the Closing Date, to reject any Mortgage Loan to
        the extent permitted by this Agreement, and (ii) obligation to deliver or
        cause
        to be delivered the consideration for the Mortgage Loans pursuant to Section
        8
        hereof. Any Mortgage Loans rejected by the Purchaser shall concurrently
        therewith be released from the security interest created hereby. All rights
        and
        remedies of the Purchaser under this Agreement are distinct from, and cumulative
        with, any other rights or remedies under this Agreement or afforded by law
        or
        equity and all such rights and remedies may be exercised concurrently,
        independently or successively.

      
        
           

        

        
          -27-

          
            

          

        

        
           

        

      

       

      Notwithstanding
        the foregoing, if on the Closing Date, each of the conditions set forth in
        Section 8 hereof shall have been satisfied and the Purchaser shall not have
        paid
        or caused to be paid the Purchase Price, or any such condition shall not
        have
        been waived or satisfied and the Purchaser determines not to pay or cause
        to be
        paid the Purchase Price, the Purchaser shall immediately effect the re-delivery
        of the Mortgage Loans, if delivery to the Purchaser has occurred, and the
        security interest created by this Section 13 shall be deemed to have been
        released.

       

      Section
        14. Notices.
        All
        demands, notices and communications hereunder shall be in writing and shall
        be
        deemed to have been duly given if personally delivered to or mailed by
        registered mail, postage prepaid, or transmitted by fax and, receipt of which
        is
        confirmed by telephone, if to the Purchaser, addressed to Stanwich Asset
        Acceptance Company, L.L.C., Seven Greenwich Office Park, 599 West Putnam
        Avenue,
        Greenwich, Connecticut 06830 (Telecopy (212-272-7206)) Attention: Darren
        Fulco;
        or such other address as may hereafter be furnished to RFC and the Seller
        in
        writing by the Purchaser; if to RFC, addressed to RFC at Residential Funding
        Company, LLC, 8400
        Normandale Lake Blvd., Suite 250, Minneapolis, MN 55437, Attention: Structured
        Finance,
        or such
        other address as may hereafter be furnished to the Seller and the Purchaser
        in
        writing by RFC; if to the Seller, addressed to the Seller at Carrington
        Securities, LP, Seven Greenwich Office Park, 599 West Putnam Avenue, Greenwich,
        Connecticut 06830, (Telecopy (212-272-7206)) Attention: Bruce M. Rose, or
        to
        such other address as the Seller may designate in writing to the Purchaser
        and
        RFC.

       

      Section
        15. Severability
        of Provisions.
        Any
        part, provision, representation or warranty of this Agreement that is prohibited
        or that is held to be void or unenforceable shall be ineffective to the extent
        of such prohibition or unenforceability without invalidating the remaining
        provisions hereof. Any part, provision, representation or warranty of this
        Agreement that is prohibited or unenforceable or is held to be void or
        unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
        to the extent of such prohibition or unenforceability without invalidating
        the
        remaining provisions hereof, and any such prohibition or unenforceability
        in any
        jurisdiction as to any Mortgage Loan shall not invalidate or render
        unenforceable such provision in any other jurisdiction. To the extent permitted
        by applicable law, the parties hereto waive any provision of law which prohibits
        or renders void or unenforceable any provision hereof.

      
        
           

        

        
          -28-

          
            

          

        

        
           

        

      

       

      Section
        16. Agreement
        of Parties.
        The
        Seller, RFC and the Purchaser each agree to execute and deliver such instruments
        and take such actions as either of the others may, from time to time, reasonably
        request in order to effectuate the purpose and to carry out the terms of
        this
        Agreement and the Pooling and Servicing Agreement.

       

      Section
        17. Survival.
        (a) The
        Seller agrees that the representations, warranties and agreements made by
        it
        herein and in any certificate or other instrument delivered pursuant hereto
        shall be deemed to be relied upon by the Purchaser, notwithstanding any
        investigation heretofore or hereafter made by the Purchaser or on its behalf,
        and that the representations, warranties and agreements made by the Seller
        herein or in any such certificate or other instrument shall survive the delivery
        of and payment for the Mortgage Loans and shall continue in full force and
        effect, notwithstanding any restrictive or qualified endorsement on the Mortgage
        Notes and notwithstanding subsequent termination of this Agreement, the Pooling
        and Servicing Agreement or the Trust Fund.

       

      (b) RFC
        agrees that the representations, warranties and agreements made by it herein
        and
        in any certificate or other instrument delivered pursuant hereto shall be
        deemed
        to be relied upon by the Seller and the Purchaser, notwithstanding any
        investigation heretofore or hereafter made by the Seller or the Purchaser
        or on
        the behalf of either of them, and that the representations, warranties and
        agreements made by RFC herein or in any such certificate or other instrument
        shall continue in full force and effect, notwithstanding subsequent termination
        of this Agreement, the Pooling and Servicing Agreement or the Trust
        Fund.

       

      Section
        18. GOVERNING
        LAW.
        THIS
        AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH THE LAWS
        OF THE
        STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THEREOF (OTHER
        THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS
        LAW).

       

      Section
        19. Miscellaneous.
        This
        Agreement may be executed in two or more counterparts, each of which when
        so
        executed and delivered shall be an original, but all of which together shall
        constitute one and the same instrument. This Agreement shall inure to the
        benefit of and be binding upon the parties hereto and their respective
        successors and assigns. This Agreement supersedes all prior agreements and
        understandings relating to the subject matter hereof. Neither this Agreement
        nor
        any term hereof may be changed, waived, discharged or terminated orally,
        but
        only by an instrument in writing signed by the party against whom enforcement
        of
        the change, waiver, discharge or termination is sought. The headings in this
        Agreement are for purposes of reference only and shall not limit or otherwise
        affect the meaning hereof.

      
        
           

        

        
          -29-

          
            

          

        

        
           

        

      

       

      It
        is the
        express intent of the parties hereto that the conveyance of the Mortgage
        Loans
        by the Seller to the Purchaser as provided in Section 4 hereof be, and be
        construed as, a sale of the Mortgage Loans by the Seller to the Purchaser
        and
        not as a pledge of the Mortgage Loans by the Seller to the Purchaser to secure
        a
        debt or other obligation of the Seller. However, in the event that,
        notwithstanding the aforementioned intent of the parties, the Mortgage Loans
        are
        held to be property of the Seller, then (a) it is the express intent of the
        parties that such conveyance be deemed a pledge of the Mortgage Loans by
        the
        Seller to the Purchaser to secure a debt or other obligation of the Seller
        and
        (b) (1) this Agreement shall also be deemed to be a security agreement within
        the meaning of Articles 8 and 9 of the New York Uniform Commercial Code;
        (2) the
        conveyance provided for in Section 4 hereof shall be deemed to be a grant
        by the
        Seller to the Purchaser of a security interest in all of the Seller’s right,
        title and interest in and to the Mortgage Loans and all amounts payable to
        the
        holders of the Mortgage Loans in accordance with the terms thereof and all
        proceeds of the conversion, voluntary or involuntary, of the foregoing into
        cash, instruments, securities or other property, including without limitation
        all amounts, other than investment earnings, from time to time held or invested
        in the Custodial Account whether in the form of cash, instruments, securities
        or
        other property; (3) the possession by the Purchaser or its agent of Mortgage
        Notes, the related Mortgages and such other items of property that constitute
        instruments, money, negotiable documents or chattel paper shall be deemed
        to be
“possession” by the secured party for purposes of perfecting the security
        interest pursuant to the New York Uniform Commercial Code; and (4) notifications
        to persons holding such property and acknowledgments, receipts or confirmations
        from persons holding such property shall be deemed notifications to, or
        acknowledgments, receipts or confirmations from, financial intermediaries,
        bailees or agents (as applicable) of the Purchaser for the purpose of perfecting
        such security interest under applicable law. Any assignment of the interest
        of
        the Purchaser pursuant to Section 4(d) hereof shall also be deemed to be
        an
        assignment of any security interest created hereby. The Seller and the Purchaser
        shall, to the extent consistent with this Agreement, take such actions as
        may be
        necessary to ensure that, if this Agreement were deemed to create a security
        interest in the Mortgage Loans, such security interest would be deemed to
        be a
        perfected security interest of first priority under applicable law and will
        be
        maintained as such throughout the term of this Agreement and the Pooling
        and
        Servicing Agreement.

       

      [Signatures
        follow]

      
        
           

        

        
          -30-

          
            

          

        

        
           

        

      

       

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

       

        	 	 	 
	 	
                CARRINGTON
                  SECURITIES, LP, as Seller

                By:
                  Carrington Capital Management, LLC, as its general
                  partner

              
	 
 	 
 	 
 
	 	By:  	/s/ Bruce
                M.
                Rose
	 	
                

                Name:
                  Bruce M. Rose

                Title:
                  President

              
	 	 

      

      
         

          	 	 	 
	 	STANWICH
                  ASSET
                  ACCEPTANCE COMPANY, L.L.C., as Purchaser
	 
 	 
 	 
 
	 	By:  	/s/ Bruce
                  M.
                  Rose
	 	
                  

                  Name:
                    Bruce M. Rose

                  Title:
                    President

                
	 	 

        

        
           

            	 	 	 
	 	RESIDENTIAL
                    FUNDING COMPANY, LLC
	 
 	 
 	 
 
	 	By:  	/s/ Joseph
                    Oring
	 	
                    

                    Name:
                      Joseph Orning

                    Title:
                      Associate

                  
	 	 

          

           

           

          
            
               

            

            
               

              
                

              

            

            
               

            

          

        

      

      Schedule
        I

       

      The
        Seller hereby represents, warrants, and covenants to the Purchaser as follows
        on
        the Closing Date and on each Distribution Date thereafter:

       

      General

       

      1. This
        Agreement creates a valid and continuing security interest (as defined in
        the
        applicable Uniform Commercial Code (“UCC”)) in the Mortgage Loans in favor of
        the Purchaser which security interest is prior to all other liens, and is
        enforceable as such as against creditors of and purchasers from the
        Seller.

       

      2. The
        Mortgage Loans constitute “general intangibles” or “instruments” within the
        meaning of the applicable UCC.

       

      3. The
        Custodial Account and all subaccounts thereof constitute either a deposit
        account or a securities account.

       

      4. To
        the
        extent that payments and collections received or made with respect to the
        Mortgage Loans constitute securities entitlements, such payments and collections
        have been and will have been credited to the Custodial Account. The securities
        intermediary for the Custodial Account has agreed to treat all assets credited
        to the Custodial Account as “financial assets” within the meaning of the
        applicable UCC.

       

      Creation

       

      5. The
        Seller owns and has good and marketable title to the Mortgage Loans free
        and
        clear of any lien, claim or encumbrance of any Person, excepting only liens
        for
        taxes, assessments or similar governmental charges or levies incurred in
        the
        ordinary course of business that are not yet due and payable or as to which
        any
        applicable grace period shall not have expired, or that are being contested
        in
        good faith by proper proceedings and for which adequate reserves have been
        established, but only so long as foreclosure with respect to such a lien
        is not
        imminent and the use and value of the property to which the lien attaches
        is not
        impaired during the pendency of such proceeding.

       

      6. The
        Seller has received all consents and approvals to the sale of the Mortgage
        Loans
        hereunder to the Purchaser required by the terms of the Mortgage Loans that
        constitute instruments.

       

      7. To
        the
        extent the Custodial Account or subaccounts thereof constitute securities
        entitlements, certificated securities or uncertificated securities, the Seller
        has received all consents and approvals required to transfer to the Purchaser
        its interest and rights in the Custodial Account hereunder.

       

      Perfection

       

      8. The
        Seller has caused or will have caused, within ten days after the effective
        date
        of this Agreement, the filing of all appropriate financing statements in
        the
        proper filing office in the appropriate jurisdictions under applicable law
        in
        order to perfect the sale of the Mortgage Loans from the Seller to the Purchaser
        and the security interest in the Mortgage Loans granted to the Purchaser
        hereunder.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      9. With
        respect to the Custodial Account and all subaccounts that constitute deposit
        accounts, either:

       

      (i) the
        Seller has delivered to the Purchaser a fully-executed agreement pursuant
        to
        which the bank maintaining the deposit accounts has agreed to comply with
        all
        instructions originated by the Purchaser directing disposition of the funds
        in
        the Custodial Account without further consent by the Seller; or

       

      (ii) the
        Seller has taken all steps necessary to cause the Purchaser to become the
        account holder of the Custodial Account.

       

      10. With
        respect to the Custodial Account or subaccounts thereof that constitute
        securities accounts or securities entitlements, the Seller has caused or
        will
        have caused, within ten days after the effective date of this Agreement,
        the
        filing of all appropriate financing statements in the proper filing office
        in
        the appropriate jurisdictions under applicable law in order to perfect the
        security interest in the Custodial Account granted by the Seller to the
        Purchaser.

       

      Priority

       

      11. Other
        than the transfer of the Mortgage Loans to the Purchaser pursuant to this
        Agreement, the Seller has not pledged, assigned, sold, granted a security
        interest in, or otherwise conveyed any of the Mortgage Loans. The Seller
        has not
        authorized the filing of, or is not aware of any financing statements against
        the Seller that include a description of collateral covering the Mortgage
        Loans
        other than any financing statement relating to the security interest granted
        to
        the Purchaser hereunder or that has been terminated.

       

      12. The
        Seller is not aware of any judgment, ERISA or tax lien filings against the
        Seller.

       

      13. The
        Trustee has in its possession all original copies of the Mortgage Notes that
        constitute or evidence the Mortgage Loans. To the Seller’s knowledge, none of
        the instruments that constitute or evidence the Mortgage Loans has any marks
        or
        notations indicating that they have been pledged, assigned or otherwise conveyed
        to any Person other than the Purchaser or its designee. All financing statements
        filed or to be filed against the Seller in favor of the Purchaser in connection
        herewith describing the Mortgage Loans contain a statement to the following
        effect: “A purchase of or security interest in any collateral described in this
        financing statement will violate the rights of the Purchaser.”

       

      14. Neither
        the Custodial Account nor any subaccount thereof is in the name of any person
        other than the Seller or the Purchaser or in the name of its nominee. The
        Seller
        has not consented for the securities intermediary of the Custodial Account
        to
        comply with entitlement orders of any person other than the Purchaser or
        its
        designee.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      15. Survival
        of Perfection Representations.
        Notwithstanding any other provision of this Agreement or any other transaction
        document, the Perfection Representations contained in this Schedule shall
        be
        continuing, and remain in full force and effect (notwithstanding any replacement
        of the Servicer or termination of the Servicer’s rights to act as such) until
        such time as all obligations under this Agreement have been finally and fully
        paid and performed.

       

      16. No
        Waiver.
        The
        parties to this Agreement (i) shall not, without obtaining a confirmation
        of the
        then-current rating of the Certificates waive any of the Perfection
        Representations, and (ii) shall provide the Rating Agencies with prompt written
        notice of any breach of the Perfection Representations, and shall not, without
        obtaining a confirmation of the then-current rating of the Certificates (as
        determined after any adjustment or withdrawal of the ratings following notice
        of
        such breach) waive a breach of any of the Perfection
        Representations.

       

      17. Seller
        to Maintain Perfection and Priority.
        The
        Seller covenants that, in order to evidence the interests of the Seller and
        the
        Purchaser under this Agreement, the Seller shall take such action, or execute
        and deliver such instruments (other than effecting a Filing (as defined below),
        unless such Filing is effected in accordance with this paragraph) as may
        be
        necessary or advisable (including, without limitation, such actions as are
        requested by the Purchaser) to maintain and perfect, as a first priority
        interest, the Purchaser’s security interest in the Mortgage Loans. The Seller
        shall, from time to time and within the time limits established by law, prepare
        and present to the Purchaser or its designee to authorize (based in reliance
        on
        the Opinion of Counsel hereinafter provided for) the Seller to file, all
        financing statements, amendments, continuations, initial financing statements
        in
        lieu of a continuation statement, terminations, partial terminations, releases
        or partial releases, or any other filings necessary or advisable to continue,
        maintain and perfect the Purchaser’s security interest in the Mortgage Loans as
        a first-priority interest (each a “Filing”). The Seller shall present each such
        Filing to the Purchaser or its designee together with (x) an Opinion of Counsel
        to the effect that such Filing is (i) consistent with the grant of the security
        interest to the Purchaser pursuant to Section 19 of this Agreement, (ii)
        satisfies all requirements and conditions to such Filing in this Agreement
        and
        (iii) satisfies the requirements for a Filing of such type under the Uniform
        Commercial Code in the applicable jurisdiction (or if the Uniform Commercial
        Code does not apply, the applicable statute governing the perfection of security
        interests), and (y) a form of authorization for the Purchaser’s signature. Upon
        receipt of such Opinion of Counsel and form of authorization, the Purchaser
        shall promptly authorize in writing the Seller to, and the Seller shall,
        effect
        such Filing under the UCC without the signature of the Seller or the Purchaser
        where allowed by applicable law. Notwithstanding anything else in the
        transaction documents to the contrary, the Seller shall not have any authority
        to effect a Filing without obtaining written authorization from the Purchaser
        or
        its designee.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      Exhibit
        1

       

      APPENDIX
        E - Standard & Poor’s Anti-Predatory Lending Categorization

      REVISED
        October 20, 2006

       

      Standard
        & Poor's has categorized loans governed by anti-predatory lending laws in
        the jurisdictions listed below into three categories based upon a combination
        of
        factors that include (a) the risk exposure associated with the assignee
        liability and (b) the tests and thresholds set forth in those laws. Note
        that
        certain loans classified by the relevant statute as Covered are included
        in
        Standard & Poor's High Cost Loan category because they included thresholds
        and tests that are typical of what is generally considered High Cost by the
        industry.

       

      
        
          Standard
            & Poor’s High Cost Loan Categorization

          

          
            	
                    State/Jurisdiction

                  	
                    Name
                      of Anti-Predatory Lending Law/Effective Date

                  	
                    Category
                      under Applicable Anti-Predatory Lending Law

                  
	
                    Arkansas
                      

                  	
                    Arkansas
                      Home Loan Protection Act, Ark. Code Ann. §§ 23-53-101 et seq. Effective
                      July 16, 2003 

                  	
                    High
                      Cost Home Loan 

                  
	
                    Cleveland
                      Heights, Ohio 

                  	
                    Ordinance
                      No. 72-2003 (PSH), Mun. Code §§ 757.01 et seq. Effective June 2, 2003
                      

                  	
                    Covered
                      Loan 

                  
	
                    Colorado
                      

                  	
                    Consumer
                      Equity Protection, Colo. Stat. Ann. §§ 5-3.5-101 et seq. Effective for
                      covered loans offered or entered into on or after Jan. 1, 2003.
                      Other
                      provisions of the Act took effect on June 7, 2002 

                  	
                    Covered
                      Loan 

                  
	
                    Connecticut
                      

                  	
                    Connecticut
                      Abusive Home Loan Lending Practices Act, Conn. Gen. Stat. §§ 36a-746 et
                      seq. Effective October 1, 2001 

                  	
                    High
                      Cost Home Loan 

                  
	
                    District
                      of Columbia 

                  	
                    Home
                      Loan Protection Act, D.C. Code §§ 26-1151.01 et seq. Effective for loans
                      closed on or after January 28, 2003 

                  	
                    Covered
                      Loan 

                  
	
                    Florida
                      

                  	
                    Fair
                      Lending Act, Fla. Stat. Ann. §§ 494.0078 et seq. Effective October 2, 2002
                      

                  	
                    High
                      Cost Home 

                  
	
                    Georgia
                      (Oct. 1, 2002 - March 6, 2003) 

                  	
                    Georgia
                      Fair Lending Act, Ga. Code Ann. §§ 7-6A-1 et seq. Effective October 1,
                      2002-March 6, 2003 

                  	
                    High
                      Cost Home Loan 

                  
	
                    Georgia
                      as amended (March 7, 2003 - current) 

                  	
                    Georgia
                      Fair Lending Act, Ga. Code Ann. §§ 7-6A-1 et seq. Effective for loans
                      closed on or after March 7, 2003 

                  	
                    High
                      Cost Home Loan 

                  

          

           

           

           

          
            
               

            

            
               

              
                

              

            

            
               

            

          

           

           

          
            	 

                    State/Jurisdiction

                  	 

                    Name
                      of Anti-Predatory Lending Law/Effective Date

                  	 

                    Category
                      under Applicable Anti-Predatory Lending Law

                  
	
                    HOEPA
                      Section 32 

                  	
                    Home
                      Ownership and Equity Protection Act of 1994, 15 U.S.C. § 1639, 12 C.F.R.
                      §§ 226.32 and 226.34. Effective Oct. 1, 1995, amendments October
                      1, 2002
                      

                  	
                    High
                      Cost Loan 

                  
	
                    Illinois
                      

                  	
                    High
                      Risk Home Loan Act, Ill. Comp. Stat. tit. 815, §§ 137/5 et seq. Effective
                      Jan. 1, 2004 (prior to this date, regulations under Residential
                      Mortgage
                      License Act effective from May 14, 2001) 

                  	
                    High
                      Risk Home Loan 

                  
	
                    Indiana
                      

                  	
                    Indiana
                      Home Loan Practices Act, Ind. Code Ann. §§ 24-9-1-1 et seq. Effective
                      January 1, 2005; amended by 2005-HB 1179, effective July 1,
                      2005.
                      

                  	
                    High
                      Cost Home Loan 

                  
	
                    Kansas

                  	
                    Consumer
                      Credit Code, Kan. Stat. Ann. §§ 16a-1-101 et seq. Sections 16a-1-301 and
                      16a-3-207 became effective April 14, 1999; Section 16a-3-308a
                      became
                      effective July 1, 1999 

                  	
                    High
                      Loan to Value Consumer Loan (id. § 16a-3-207); and High APR Consumer Loan
                      (id. § 16a-3-308a) 

                  
	
                    Kentucky

                  	
                    2003
                      KY H.B. 287 - High Cost Home Loan Act, Ky. Rev. Stat. §§ 360.100 et seq.
                      Effective June 24, 2003 

                  	
                    High
                      Cost Home Loan 

                  
	
                    Maine
                      

                  	
                    Truth
                      in Lending, Me. Rev. Stat. tit. 9-A, §§ 8-101 et seq. Effective September
                      29, 1995, and as amended from time to time 

                  	
                    High
                      Rate High Fee Mortgage 

                  
	
                    Massachusetts
                      

                  	
                    Part
                      40 and Part 32, 209 C.M.R. §§ 32.00 et seq. and 209 C.M.R. §§ 40.01 et
                      seq. Effective March 22, 2001, and amended from time to time.
                      

                  	
                    High
                      Cost Home Loan 

                  
	
                     

                  	
                    Massachusetts
                      Predatory Home Loan Practices Act. Mass. Gen. Laws ch. 183C,
§§ 1 et seq.
                      Effective November 7, 2004. 

                  	
                    High
                      Cost Home Mortgage Loan 

                  
	
                    Nevada
                      

                  	
                    Assembly
                      Bill No. 284, Nev. Rev. Stat. §§ 598D.010 et seq. Effective October 1,
                      2003 

                  	
                    Home
                      Loan 

                  

          

           

           

          
            
               

            

            
               

              
                

              

            

            
               

            

          

           

           

          
            	 

                    State/Jurisdiction

                  	 

                    Name
                      of Anti-Predatory Lending Law/Effective Date

                  	 

                    Category
                      under Applicable Anti-Predatory Lending Law

                  
	
                    New
                      Jersey 

                  	
                    New
                      Jersey Home Ownership Security Act of 2002, N.J. Rev. Stat.
§§ 46:10B-22
                      et seq. Effective for loans closed on or after November 27,
                      2003
                      

                  	
                    High
                      Cost Home Loan 

                  
	
                    New
                      Mexico 

                  	
                    Home
                      Loan Protection Act, N.M. Rev. Stat. §§ 58-21A-1 et seq. Effective as of
                      January 1, 2004; Revised as of February 26, 2004 

                  	
                    High
                      Cost Home Loan 

                  
	
                    New
                      York 

                  	
                    N.Y.
                      Banking Law Article 6-l. Effective for applications made on
                      or after April
                      1, 2003 

                  	
                    High
                      Cost Home Loan 

                  
	
                    North
                      Carolina 

                  	
                    Restrictions
                      and Limitations on High Cost Home Loans, N.C. Gen. Stat. §§ 24-1.1E et
                      seq. Effective July 1, 2000; amended October 1, 2003 (adding
                      open-end
                      lines of credit) 

                  	
                    High
                      Cost Home Loan 

                  
	
                    Ohio
                      

                  	
                    H.B.
                      386 (codified in various sections of the Ohio Code), Ohio Rev.
                      Code Ann.
                      §§ 1349.25 et seq. Effective May 24, 2002 

                  	
                    Covered
                      Loan 

                  
	
                    Oklahoma
                      

                  	
                    Consumer
                      Credit Code (codified in various sections of Title 14A). Effective
                      July 1,
                      2000; amended effective January 1, 2004 

                  	
                    Subsection
                      10 Mortgage 

                  
	
                    Rhode
                      Island 

                  	
                    Rhode
                      Island Home Loan Protection Act, R.I. Gen. Laws §§ 34-25.2-1 et seq.
                      Effective December 31, 2006. 

                  	
                    High
                      Cost Home Loan 

                  
	
                    South
                      Carolina 

                  	
                    South
                      Carolina High Cost and Consumer Home Loans Act, S.C. Code Ann.
§§ 37-23-10
                      et seq. Effective for loans taken on or after January 1, 2004
                      

                  	
                    High
                      Cost Home Loan 

                  

          

          

           

          
            
               

            

            
               

              
                

              

            

            
               

            

          

          Standard
            & Poor’s Covered Loan Categorization

          

          
            	
                    State/Jurisdiction

                  	
                    Name
                      of Anti-Predatory Lending Law/Effective Date

                  	
                    Category
                      under Applicable Anti-Predatory Lending Law

                  
	
                    Georgia
                      (Oct. 1, 2002 - March 6, 2003) 

                  	
                    Georgia
                      Fair Lending Act, Ga. Code Ann. §§ 7-6A-1 et seq. Effective October 1,
                      2002-March 6, 2003 

                  	
                    Covered
                      Loan

                  
	
                    New
                      Jersey 

                  	
                    New
                      Jersey Home Ownership Security Act of 2002, N.J. Rev. Stat.
§§ 46:10B-22
                      et seq. Effective November 27, 2003-July 5, 2004 

                  	
                    Covered
                      Home Loan

                  

          

          

            

          
            Standard
              & Poor’s Home Loan Categorization

             

          

          
            	
                    State/Jurisdiction

                  	
                    Name
                      of Anti-Predatory Lending Law/Effective Date

                  	
                    Category
                      under Applicable Anti-Predatory Lending Law

                  
	
                    Georgia
                      (Oct. 1, 2002- March 6, 2003) 

                  	
                    Georgia
                      Fair Lending Act, Ga. Code Ann. §§ 7-6A-1 et seq. Effective October 1,
                      2002-March 6, 2003 

                  	
                    Home
                      Loan 

                  
	
                    New
                      Jersey 

                  	
                    New
                      Jersey Home Ownership Security Act of 2002, N.J. Rev. Stat.
§§ 46:10B-22
                      et seq. Effective for loans closed on or after November 27,
                      2003
                      

                  	
                    Home
                      Loan 

                  
	
                    New
                      Mexico 

                  	
                    Home
                      Loan Protection Act, N.M. Rev. Stat. §§ 58-21A-1 et seq. Effective as of
                      January 1, 2004; Revised as of February 26, 2004 

                  	
                    Home
                      Loan 

                  
	
                    North
                      Carolina 

                  	
                    Restrictions
                      and Limitations on High Cost Home Loans, N.C. Gen. Stat. §§ 24-1.1E et
                      seq. Effective July 1, 2000; amended October 1, 2003 (adding
                      open-end
                      lines of credit) 

                  	
                    Consumer
                      Home Loan 

                  
	
                    South
                      Carolina 

                  	
                    South
                      Carolina High Cost and Consumer Home Loans Act, S.C. Code Ann.
§§ 37-23-10
                      et seq. Effective for loans taken on or after January 1, 2004
                      

                  	
                    Consumer
                      Home LoanCONFIRMATION

     

    
      	
              TO:

            	
              Wells
                Fargo Bank, N.A., not individually but solely as trustee for Carrington
                Mortgage Loan Trust, Series 2007-RFC1 with respect to the Carrington
                Mortgage Loan Trust, Series 2007-RFC1 Asset-Backed Pass-Through
                Certificates

            
	 	
              9062
                Old Annapolis Road

            
	 	
              Columbia,
                Maryland 21045

            
	 	 
	
              Attention:

            	
              Client
                Manager-Carrington Mortgage Loan Trust, 2007-RFC1

            
	
              Telephone:

            	
              (410)
                884-2000

            
	
              Facsimile:

            	
              (410)
                715-2380

            
	 	 
	
              FROM:

            	
              Swiss
                Re Financial Products Corporation

            
	 	
              55
                East 52nd Street

            
	 	
              New
                York, New York 10055

            
	
              Attention:

            	
              Head
                of Operations

            
	
              Telephone:

            	
              (212)
                407-7322

            
	
              Facsimile.
                

            	
              (917)
                322-7201

            
	 	 
	
              CC:

            	 
	
              Attention:

            	
              Head
                of Legal

            
	
              Facsimile:

            	
              (212)
                317-5474

            
	 	 
	
              DATE:

            	
              January
                25, 2007

            

    

     

    Transaction
      Reference Number: 1236882 - Class A Certificates

     

    Dear
      Sir/Madam,

     

    The
      purpose of this letter agreement is to confirm the terms and conditions of
      the
      transaction entered into between Wells Fargo Bank, N.A., not individually but
      solely as trustee for Carrington Mortgage Loan Trust, Series 2007-RFC1 with
      respect to the Carrington Mortgage Loan Trust, Series 2007-RFC1 Asset-Backed
      Pass-Through Certificates, and Swiss Re Financial Products Corporation, a
      corporation organized under the laws of the State of Delaware (each a “party”
and together “the parties”) on the Trade Date specified below (the
“Transaction”). This letter agreement constitutes a “Confirmation” as referred
      to in the ISDA Master Agreement specified in paragraph 1 below. In this
      Confirmation, “Party A” means Swiss Re Financial Products Corporation, and
“Party B” means Carrington Mortgage Loan Trust, Series 2007-RFC1, by Wells Fargo
      Bank, N.A., not individually but solely as trustee for Carrington Mortgage
      Loan
      Trust, Series 2007-RFC1 with respect to the Carrington Mortgage Loan Trust,
      Series 2007-RFC1 Asset-Backed Pass-Through Certificates.

     

    The
      definitions and provisions contained in the 2000 ISDA Definitions, as published
      by the International Swaps and Derivatives Association, Inc. (the
“Definitions”), are incorporated into this Confirmation. In the event of any
      inconsistency between the Definitions and this Confirmation, this Confirmation
      will govern.

     

    Other
      capitalized terms used herein (but not otherwise defined) shall have the meaning
      specified in that certain Pooling and Servicing Agreement, dated as of January
      1, 2007 (the “Pooling and Servicing Agreement”), among Stanwich Asset Acceptance
      Company, L.L.C., as Depositor, Residential Funding Company, LLC, as Servicer,
      and Wells Fargo Bank, N.A., as Trustee (the “Trustee”).

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    1.  This
      Confirmation evidences a complete binding agreement between the parties as
      to
      the terms of the Transaction to which this Confirmation relates. In addition,
      the parties agree that for the purposes of this Transaction, this Confirmation
      will supplement, form a part of, and be subject to that 1992 ISDA Master
      Agreement (the “Master Agreement”) dated as of January 25, 2007, between the
      parties. In the event of any inconsistency between the provisions of the Master
      Agreement and this Confirmation, this Confirmation will prevail for the purpose
      of this Transaction.

     

    2.  The
      terms
      of the particular Transaction to which this Confirmation relates are as
      follows:

     

    
      	
              Notional
                Amount:

            	
              As
                set forth in Schedule A attached hereto

            
	
              Trade
                Date:

            	
              January
                16, 2007

            
	
              Effective
                Date:

            	
              January
                25, 2007

            
	
              Termination
                Date:

            	
              September
                25, 2010, subject to adjustment in accordance with the Following
                Business
                Day Convention with respect to Floating Amounts and subject to No
                Adjustment with respect to Fixed Amounts.

            
	
              Fixed
                Amounts:

            	 
	
              Fixed
                Rate Payer:

            	
              Party
                B

            
	
              Fixed
                Rate Payer Payment Dates:

            	
              The
                business day prior to the 25th
                of
                each month subject to adjustment in accordance with the Following
                Business
                Day Convention.

            
	
              Fixed
                Rate Payer Period End Dates:

            	
              The
                25th
                of
                each month, commencing on February 25, 2007 and ending on the Termination
                Date, with No Adjustment.

            
	
              Fixed
                Rate:

            	
              5.10%

            
	
              Fixed
                Rate Day Count Fraction:

            	
              30/360

            
	
              Floating
                Amounts:

            	 
	
              Floating
                Rate Payer:

            	
              Party
                A

            
	
              Floating
                Rate Payer Payment Dates:

            	
              The
                business day prior to the 25th
                of
                each month subject to adjustment in accordance with the Following
                Business
                Day Convention.

            
	
              Floating
                Rate Payer Period End Dates:

            	
              The
                25th
                of
                each month, commencing on February 25, 2007 in accordance with the
                Following Business Day Convention.

            
	
              Floating
                Rate for initial Calculation Period:

            	
              To
                be determined

            
	
              Floating
                Rate Option:

            	
              USD-LIBOR-BBA

            
	
              Designated
                Maturity:

            	
              One
                month

            
	
              Spread:

            	
              None

            
	
              Floating
                Rate Day Count Fraction:

            	
              Actual/360

            
	
              Reset
                Date:

            	
              First
                day of each Calculation Period

            
	
              Compounding:

            	
              Inapplicable

            
	
              Floating
                Rate Payer Upfront Payment:

            	
              $1,117,000.
                Party B shall pay the Floating Rate Payer Upfront Payment on or prior
                to
                January 25, 2007, subject to adjustment in accordance with the Following
                Business Day Convention.

            
	
              Business
                Days:

            	
              New
                York

            
	
              Calculation
                Agent:

            	
              Party
                A; provided,
                however,
                if an Event of Default has occurred with respect to Party A, a Reference
                Market-maker, as designated by Party B, shall be the Calculation
                Agent.

            
	 	 

    

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    3.  Account
      Details.

     

    Account
      for payments to Party A:

     

    
      	 	
              PAYMENT
                INSTRUCTION:

            	
              JP
                Morgan Chase Bank

            
	 	 	
              ABA#:
                021-000-021

            
	 	 	
              Swift:
                CHASUS33

            
	 	 	
              For
                the Account of Swiss Re Financial Products

            
	 	 	
              ACCT
                #: 066-911184

            
	 	 	 
	 	
              Account
                for payments to Party B:

            
	 	 	 
	 	
              PAYMENT
                INSTRUCTION:

            	
              Wells
                Fargo Bank, National Association

            
	 	 	
              ABA#:
                121-000-248

            
	 	 	
              ACCT
                #: 3970771416

            
	 	 	
              ACCT
                NAME: Corporate Trust Clearing

            
	 	 	
              For
                further credit to ACCT #: 50978601

            
	 	 	
              REF:
                Client Manager - Carrington Mortgage Loan Trust
                2007-RFC1

            

    

    

     

    4.  Please
      confirm that the foregoing correctly sets forth the terms and conditions of
      our
      agreement by returning within three (3) Business Days via telecopier an executed
      copy of this Confirmation. Failure to respond within such period shall not
      affect the validity or enforceability of this Transaction.

     

    Yours
      sincerely,

     

    SWISS
      RE
      FINANCIAL PRODUCTS CORPORATION

     

    By:
       /s/ Robert Spuler

    
      
        

      

    

    Name:
      Robert Spuler

    Title:
      Senior Vice President

     

     

    Confirmed
      as of the date above:

     

    By:
      WELLS
      FARGO BANK, N.A., not individually but solely as trustee for Carrington Mortgage
      Loan Trust, Series 2007-RFC1 with respect to the Carrington Mortgage Loan Trust,
      Series 2007-RFC1 Asset-Backed Pass-Through Certificates

     

    By: /s/
      Darron C. Woodus

    
      
        

      

    

    Name:
      Darron C. Woodus 

    Title:
      Assistant Vice President

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    SCHEDULE
      A
      to the
      Confirmation dated as of January 25, 2007,

     

    Re:
      Reference Number 1236882

     

    Amortization
      Schedule.
      Floating Rate Payer Period
      End Dates shall be subject
      to adjustment in accordance with the Following Business Day Convention, however,
      Fixed
      Rate Payer Period End Dates will use No Adjustment.

     

    
      	
              From
                and including

            	
              To
                but excluding

            	
              Notional
                Amount (USD)

            
	
              January
                25, 2007

            	
              February
                25, 2007

            	
              837,769,000.00

            
	
              February
                25, 2007

            	
              March
                25, 2007

            	
              822,320,192.36

            
	
              March
                25, 2007

            	
              April
                25, 2007

            	
              805,149,719.36

            
	
              April
                25, 2007

            	
              May
                25, 2007

            	
              786,530,928.84

            
	
              May
                25, 2007

            	
              June
                25, 2007

            	
              765,106,589.97

            
	
              June
                25, 2007

            	
              July
                25, 2007

            	
              740,959,746.57

            
	
              July
                25, 2007

            	
              August
                25, 2007

            	
              714,202,251.93

            
	
              August
                25, 2007

            	
              September
                25, 2007

            	
              684,976,699.28

            
	
              September
                25, 2007

            	
              October
                25, 2007

            	
              653,489,775.37

            
	
              October
                25, 2007

            	
              November
                25, 2007

            	
              621,209,045.56

            
	
              November
                25, 2007

            	
              December
                25, 2007

            	
              590,415,960.50

            
	
              December
                25, 2007

            	
              January
                25, 2008

            	
              561,050,992.57

            
	
              January
                25, 2008

            	
              February
                25, 2008

            	
              533,047,106.89

            
	
              February
                25, 2008

            	
              March
                25, 2008

            	
              506,340,445.07

            
	
              March
                25, 2008

            	
              April
                25, 2008

            	
              480,870,173.67

            
	
              April
                25, 2008

            	
              May
                25, 2008

            	
              456,578,339.81

            
	
              May
                25, 2008

            	
              June
                25, 2008

            	
              433,409,733.76

            
	
              June
                25, 2008

            	
              July
                25, 2008

            	
              411,311,758.14

            
	
              July
                25, 2008

            	
              August
                25, 2008

            	
              390,050,208.74

            
	
              August
                25, 2008

            	
              September
                25, 2008

            	
              361,330,878.94

            
	
              September
                25, 2008

            	
              October
                25, 2008

            	
              319,044,982.05

            
	
              October
                25, 2008

            	
              November
                25, 2008

            	
              282,204,816.12

            
	
              November
                25, 2008

            	
              December
                25, 2008

            	
              250,079,051.17

            
	
              December
                25, 2008

            	
              January
                25, 2009

            	
              222,062,624.24

            
	
              January
                25, 2009

            	
              February
                25, 2009

            	
              200,885,522.82

            
	
              February
                25, 2009

            	
              March
                25, 2009

            	
              188,442,043.82

            
	
              March
                25, 2009

            	
              April
                25, 2009

            	
              176,653,320.35

            
	
              April
                25, 2009

            	
              May
                25, 2009

            	
              165,472,707.22

            
	
              May
                25, 2009

            	
              June
                25, 2009

            	
              165,472,707.22

            
	
              June
                25, 2009

            	
              July
                25, 2009

            	
              165,472,707.22

            
	
              July
                25, 2009

            	
              August
                25, 2009

            	
              165,472,707.22

            
	
              August
                25, 2009

            	
              September
                25, 2009

            	
              155,635,124.76

            
	
              September
                25, 2009

            	
              October
                25, 2009

            	
              145,586,035.18

            
	
              October
                25, 2009

            	
              November
                25, 2009

            	
              136,401,037.59

            
	
              November
                25, 2009

            	
              December
                25, 2009

            	
              128,004,892.04

            
	
              December
                25, 2009

            	
              January
                25, 2010

            	
              120,338,024.03

            
	
              January
                25, 2010

            	
              February
                25, 2010

            	
              114,031,206.53

            
	
              February
                25, 2010

            	
              March
                25, 2010

            	
              108,486,900.70

            
	
              March
                25, 2010

            	
              April
                25, 2010

            	
              103,239,082.11

            

    

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    
      	
              From
                and including

            	
              To
                but excluding

            	
              Notional
                Amount (USD)

            
	
              April
                25, 2010

            	
              May
                25, 2010

            	
              98,262,419.20

            
	
              May
                25, 2010

            	
              June
                25, 2010

            	
              93,541,758.14

            
	
              June
                25, 2010

            	
              July
                25, 2010

            	
              89,063,074.92

            
	
              July
                25, 2010

            	
              August
                25, 2010

            	
              84,813,290.63

            
	
              August
                25, 2010

            	
              September
                25, 2010

            	
              80,780,062.81

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00116-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00116-of-00352.parquet"}]]