Document:

EXHIBIT 4.5

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                         COUNTRYWIDE HOME LOANS, INC.
                                 Administrator

                    CWHEQ REVOLVING HOME EQUITY LOAN TRUST,
                                 SERIES 200_-_
                                     Trust

                            -----------------------
                               Indenture Trustee

                 --------------------------------------------

                           ADMINISTRATION AGREEMENT

                         Dated as of __________, 200_

                 --------------------------------------------

                REVOLVING HOME EQUITY LOAN ASSET BACKED NOTES,
                                 SERIES 200_-_

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                               Table of Contents

SECTION 1  DEFINITIONS AND RULES OF CONSTRUCTION..............................1

SECTION 2  DUTIES OF ADMINISTRATOR............................................1

SECTION 3  COMPENSATION AND INDEMNITY.........................................4

SECTION 4  INDEPENDENCE OF ADMINISTRATOR......................................5

SECTION 5  NO JOINT VENTURE...................................................5

SECTION 6  OTHER ACTIVITIES OF ADMINISTRATOR..................................5

SECTION 7  TERM OF AGREEMENT; RESIGNATION AND REMOVAL OF ADMINISTRATOR........5

SECTION 8  ACTION UPON TERMINATION, RESIGNATION, OR REMOVAL.................. 6

SECTION 9  NOTICES........................................................... 6

SECTION 10 PAYMENT AND INDEMNITY OF THE INDENTURE TRUSTEE.....................7

SECTION 11. AMENDMENTS........................................................7

SECTION 12  SUCCESSORS AND ASSIGNS............................................8

SECTION 13  GOVERNING LAW.....................................................8

SECTION 14  HEADINGS..........................................................8

SECTION 15  COUNTERPARTS......................................................8

SECTION 16  SEVERABILITY......................................................8

SECTION 17  NOT APPLICABLE TO COUNTRYWIDE HOME LOANS, INC.
            IN OTHER CAPACITIES...............................................8

SECTION 18  LIMITATION OF LIABILITY OF OWNER TRUSTEE AND INDENTURE TRUSTEE....8

SECTION 19  LIMITATION OF LIABILITY OF ADMINISTRATOR AND STANDARD OF CARE.....9

SECTION 20  THIRD-PARTY BENEFICIARY...........................................9

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         THIS ADMINISTRATION AGREEMENT, dated as of ________, 200_ (the
"Agreement"), among COUNTRYWIDE HOME LOANS, INC., a New York corporation (the
"Administrator"), CWHEQ REVOLVING HOME EQUITY LOAN TRUST, SERIES 200_-_, a
Delaware statutory trust (the "Trust") and _____________________ (the
"Indenture Trustee"),

                                  WITNESSETH:

         WHEREAS, the Trust was created pursuant to the Trust Agreement; and

         WHEREAS, the Trust is issuing Notes pursuant to the Indenture of even
date with this Agreement ("Indenture") among the Trust, the Indenture Trustee
and _____________________, as Co-Trustee (the "Co-Trustee") and is issuing
Certificates pursuant to the Trust Agreement; and

         WHEREAS, pursuant to the Indenture, the Sale and Servicing Agreement,
and the Trust Agreement (the "Related Agreements"), the Trust, the Owner
Trustee, and the Indenture Trustee are required to perform certain duties
referred to in the Related Agreements; and

         WHEREAS, the Trust and the Indenture Trustee want to appoint the
Administrator to perform those duties and to provide certain additional
services that the Trust, the Owner Trustee, or the Indenture Trustee and the
Administrator may agree to;

         NOW, THEREFORE, the parties agree as follows.

         Section 1. Definitions and Rules of Construction.
         Capitalized terms used in this Agreement that are not otherwise
defined have the meanings given to them in the Indenture, and if not defined
there, in the Sale and Servicing Agreement. In addition, Section 1.04 (Rules
of Construction) of the Indenture is incorporated by reference with
appropriate substitution of this Agreement for references in that Section to
the Indenture so that the language of that Section will read appropriately as
applying to this Agreement. "Trust Agreement" means the Trust Agreement, dated
as of ________, 200_, among the Master Servicer, the Depositor and the Owner
Trustee.

         Section 2. Duties of Administrator.
         (a) Duties Regarding Related Agreements. The Administrator agrees to
perform all of the following duties of the Trust and the Owner Trustee under
the Related Agreements:

            (i) determine on behalf of the Trust whether any conditions
         precedent to the conveyance of the Mortgage Loans, the issuance of
         the Notes, or any other action under the Related Agreements has been
         satisfied;

           (ii) deliver Notes executed by the Trust to the Indenture
         Trustee for authentication and delivery under Section 2.02 of the
         Indenture;

          (iii) deliver definitive Notes to the Indenture Trustee for
         authentication under Section 2.10 of the Indenture pursuant to
         written instructions of the Trust;

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           (iv) cause each Paying Agent other than the Indenture
         Trustee to execute and deliver to the Indenture Trustee the
         instrument specified in Section 3.03 of the Indenture regarding funds
         held in trust;

            (v) whenever the Trust has appointed a Paying Agent other
         than the Indenture Trustee, direct the Indenture Trustee to deposit
         with that Paying Agent, not later than each Payment Date, an
         aggregate sum sufficient to pay the amounts then becoming due under
         Section 3.01 of the Indenture;

           (vi) take all appropriate action on behalf of the Trust
         regarding preservation of the Trust's qualification to do business in
         each jurisdiction in which qualification to do business is necessary
         to protect the validity and enforceability of the Indenture, the
         Notes, the Collateral, and each other material agreement of the
         Trust;

           (vii) take all appropriate action on behalf of the Trust
         regarding the preparation or review of supplements and amendments to
         the Indenture, Financing Statements, Continuation Statements,
         instruments of further assurance, and other instruments relating to
         the Collateral under Section 3.05 of the Indenture;

          (viii) on receipt, pursuant to Section 3.07(b) of the
         Indenture, of an Officer's Certificate designating a person with whom
         the Trust has contracted to perform its duties under the Indenture,
         promptly deliver notice of that designation to the Indenture Trustee;

            (ix) coordinate delivery of the Officer's Certificate,
         Opinion of Counsel, Independent Certificates, and other documents
         that may be required for the release of the Collateral under Section
         4.04 of the Indenture in accordance with written instructions of the
         Trust;

             (x) deliver written notice of an Incipient Default, pursuant
         to Section 5.01 of the Indenture to the Indenture Trustee promptly
         upon receipt of written notice of its occurrence;

            (xi) furnish to the Indenture Trustee the names and
         addresses of Noteholders under Section 7.01 of the Indenture when the
         Indenture Trustee is not the Note Registrar;

           (xii) perform the obligations of the Issuer under Section
         7.03 of the Indenture;

          (xiii) mail notice of a supplemental indenture to the
         Noteholders whenever a copy of one is received;

           (xiv) deliver to the Indenture Trustee notice of any
         agreements regarding alternative payment and notice provisions under
         Section 11.06 of the Indenture; and

            (xv) effect the filings required of it under Section 3.13 of
         the Sale and Servicing Agreement.

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         In furtherance of the foregoing, the Administrator shall consult with
the Owner Trustee as the Administrator deems appropriate regarding the duties
of the Trust and the Owner Trustee under the Related Agreements. The
Administrator shall monitor the performance of the Trust and the Owner Trustee
and shall perform any action necessary to comply with the Trust's or the Owner
Trustee's duties under the Related Agreements, unless it is instructed
otherwise by the Owner Trustee. The Administrator shall prepare for execution
by the Owner Trustee all documents, reports, filings, instruments,
certificates, and opinions that the Trust or the Owner Trustee is required to
prepare, file, or deliver pursuant to the Related Agreements.

         (b)   Additional Duties.
              (i)  The Administrator shall cooperate with any firm of
         independent public accountants engaged by the Trust.

              (ii) In carrying out any of its other obligations under this
         Agreement, the Administrator may use any of its affiliates, so long
         as the terms of their engagement are consistent with any written
         directions of the Trust and are, in the Administrator's opinion, no
         less favorable to the Trust than terms of engagement that would be
         available from unaffiliated parties. If reasonably necessary to carry
         out duties or other obligations contemplated by this Agreement, the
         Administrator may engage counsel, agents, or attorneys-in-fact. The
         Administrator shall be not responsible for the acts or omissions of
         any counsel, agents, or attorneys-in-fact that were selected with
         reasonable care.

             (iii) In addition to the above duties of the Administrator, the
         Administrator shall perform such calculations and shall prepare for
         execution by the Trust or the Owner Trustee all documents, reports,
         filings, instruments, certificates, and opinions that the Trust or
         the Owner Trustee is required to prepare, file, or deliver pursuant
         to state and federal tax and securities laws.

              (iv) The Administrator shall furnish to the Owner Trustee any
         additional information regarding the Trust or the Related Agreements
         the Owner Trustee reasonably requests.

               (v) The Administrator agrees to perform the obligations imposed
         on the "Administrator" under the Trust Agreement.

              (vi) The Administrator shall prepare and deliver the Officer's
         Certificate pursuant to Section 3.09 of the Indenture.

         (c) Non-Ministerial Matters.

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              (i)   Notwithstanding anything to the contrary in this Agreement,
         the Administrator shall not take any action on the following matters
         without prior written instructions from the Trust (or the consent of
         the Owner Trustee):

                   (1) approve any amendment or any supplement to the
         Indenture;

                  (2)  initiate any claim or lawsuit by the Trust or approve
         the compromise of any action, claim, or lawsuit brought by or against
         the Trust (other than in collecting the Collateral);

                  (3) change in any way the Related Agreements;

                  (4) appoint successor Note Registrars, successor Paying
         Agents, or successor Indenture Trustees pursuant to the Indenture, or
         appoint successor Administrators or successor Master Servicers under
         the Sale and Servicing Agreement, or consent to the assignment by the
         Note Registrar, Paying Agent, or Indenture Trustee of its obligations
         under the Indenture; or

                  (5) remove the Indenture Trustee.

              (ii) Notwithstanding anything to the contrary in this Agreement,
         the Administrator shall not be obligated to take any action that the
         Trust directs the Administrator in writing not to take.

         (d) Records. The Administrator shall maintain appropriate books of
account and records as required by law or the Related Agreements relating to
the Trust and relating to the Administrator's services performed under this
Agreement. These books of account and records shall be accessible for
inspection on written request by the Trust or the Owner Trustee at any time
during normal business hours.

         Section 3. Compensation and Indemnity.

         (a) As compensation for the performance of the Administrator's
obligations under this Agreement and as reimbursement for its expenses related
to this Agreement, the Administrator shall be entitled to $[200] per month
which shall be solely an obligation of the Trust. The Administrator may, with
prior written notice to the Trust, the Transferor, the Master Servicer, the
Indenture Trustee, and the Owner Trustee, waive its rights to compensation
under this Agreement and Countrywide Home Loans, Inc., as the initial
Administrator, hereby gives written notice to the Trust, the Transferor, the
Master Servicer, the Indenture Trustee, and the Owner Trustee that until
further written notice to the contrary, Countrywide Home Loans, Inc. waives
its right to receive compensation under this Agreement.

         (b) The Trust shall indemnify the Administrator, its affiliates,
officers, directors, shareholders, agents, and employees against expenses,
losses, damages, liabilities, demands, charges, and claims of any nature
(including the reasonable fees and expenses of counsel and other experts)
arising from any acts or omissions performed or omitted by the Administrator,
its

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affiliates, directors, officers, shareholders, agents, or employees in
good faith in its capacity as Administrator under this Agreement and without
willful misfeasance, negligence, or reckless disregard of its duties under
this Agreement.

         (c) The Administrator shall indemnify the Owner Trustee, its
affiliates, officers, directors, shareholders, agents, and employees against
any losses, liabilities, or expenses incurred without negligence or bad faith
on their part, arising out of or in connection with the Administrator's
acceptance or administration of the transactions contemplated by this
Agreement or the Related Agreements or the failure by the Administrator to
perform its obligations in accordance with this Agreement or the Related
Agreements, including the reasonable costs and expenses of defending
themselves against any claim or liability in connection with the performance
of the Administrator under this Agreement.

         Section 4. Independence of Administrator.
         For all purposes of this Agreement, the Administrator is an
independent contractor and is not subject to the supervision of the Trust or
the Owner Trustee as to the manner in which it performs its obligations under
this Agreement. Unless expressly authorized in this Agreement or by the Trust,
the Administrator has no authority to act for or represent the Trust or the
Owner Trustee in any way and is not otherwise an agent of the Trust or the
Owner Trustee.

         Section 5. No Joint Venture.
         Nothing contained in this Agreement (i) shall constitute the
Administrator and either of the Trust or the Owner Trustee as members of any
partnership, joint venture, association, syndicate, unincorporated business,
or other separate entity, (ii) shall be construed to impose any liability as
such on any of them, or (iii) shall confer on any of them any express,
implied, or apparent authority to incur any obligation or liability on behalf
of the others.

         Section 6. Other Activities of Administrator.
         Nothing in this Agreement shall prevent the Administrator or its
affiliates from engaging in other businesses or, in its sole discretion, from
acting in a similar capacity as an administrator for any other person or
entity even though that person or entity may engage in business activities
similar to those of the Trust, the Owner Trustee, or the Indenture Trustee.

         Section 7. Term of Agreement; Resignation and Removal of
Administrator.
         (a) This Agreement shall continue in force until the termination of
the Sale and Servicing Agreement, when this Agreement shall automatically
terminate.

         (b) Subject to Section 7(e), the Administrator may resign under this
Agreement on sixty days written notice to the Trust.

         (c) Subject to Section 7(e), the Trust may remove the Administrator
without cause on sixty days written notice to the Administrator.

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         (d) Subject to Section 7(e), at the sole option of the Trust, the
Administrator may be removed immediately on written notice of termination from
the Trust to the Administrator if any of the following events occur:

                  (i) the Administrator defaults in the performance of any of
         its duties under this Agreement and, within ten days after notice of
         the default, either (A) fails to cure it or (B) if the default cannot
         be cured in that time period, fails to give any assurance of cure
         that is reasonably satisfactory to the Trust; or

                  (ii) an Insolvency Event occurs with respect to the
         Administrator.

         If an Insolvency Event occurs, the Administrator shall notify the
Trust and the Indenture Trustee of the event within seven days after its
occurrence.

         (e) No resignation or removal of the Administrator pursuant to this
Section shall be effective until (i) a successor Administrator has been
appointed by the Trust and (ii) the successor Administrator has assumed all
the obligations of the Administrator under this Agreement. The Trust shall use
reasonable efforts to appoint a successor Administrator promptly following any
resignation or removal. The appointment of any successor Administrator shall
be effective only after satisfaction of the Rating Agency Condition regarding
the proposed appointment.

         (f) The Owner Trustee shall not be required to assume the duties of
the Administrator under this Agreement or under the other Related Agreements.

         Section 8. Action upon Termination, Resignation, or Removal.
         Promptly on the effective date of termination of this Agreement or
the resignation or removal of the Administrator pursuant to Section 7, the
Administrator shall be entitled to be paid all fees and reimbursable expenses
accruing to it until the date of termination, resignation, or removal. When
this Agreement terminates pursuant to Section 7, the Administrator shall
forthwith deliver to the Trust all property and documents relating to the
Collateral then in the custody of the Administrator. Upon the resignation or
removal of the Administrator pursuant to Section 7, the Administrator shall
cooperate with the Trust and take all reasonable steps requested to assist the
Trust in making an orderly transfer of the duties of the Administrator.

         Section 9. Notices.
         All notices, demands, instructions, consents, and other
communications required or permitted under this Agreement shall be in writing
and signed by the party giving the same and shall be personally delivered or
sent by first class or express mail (postage prepaid), national overnight
courier service, or by facsimile transmission or other electronic
communication device capable of transmitting or creating a written record
(confirmed by first class mail) and shall be considered to be given for
purposes of this Agreement on the day that the writing is

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<PAGE>

delivered when personally delivered or sent by facsimile or overnight
courier or three Business Days after it was sent to its intended recipient if
sent by first class mail. A facsimile has been delivered when the sending
machine issues an electronic confirmation of transmission. Unless otherwise
specified in a notice sent or delivered in accordance with the provisions of
this Section, notices, demands, instructions, consents, and other
communications in writing shall be given to or made on the respective parties
at their addresses indicated in Related Documents (in the case of the initial
Administrator, its address is the same as the address of the Master Servicer)
or to any other address any party provides to the other parties in writing.

         Section 10. Payment and Indemnity of the Indenture Trustee.
         The Master Servicer has agreed to pay the Indenture Trustee fees for
its services as indenture trustee and to reimburse the Indenture Trustee for
expenses pursuant to a separate agreement with the Indenture Trustee. The
Master Servicer agrees to indemnify the Indenture Trustee and the Co-Trustee
and their respective officers, directors, employees, and agents against any
loss, liability, or expense (including reasonable attorneys' fees and
expenses) incurred by it in connection with the administration of this trust
not attributable to its negligence or bad faith.

         The Indenture Trustee shall notify the Master Servicer promptly of
any claim for which it or the Co-Trustee may seek indemnity. Failure by the
Indenture Trustee to so notify the Master Servicer shall not relieve the
Master Servicer of its obligations under this Section except to the extent the
Master Servicer is prejudiced by the failure. The Master Servicer will be
entitled to participate in any indemnifiable claim and to assume its defense
with counsel reasonably satisfactory to the Indenture Trustee. After the
Master Servicer notifies the Indenture Trustee of its election to assume the
defense of the indemnifiable claim, the Master Servicer will not be liable for
any further legal expenses of the Indenture Trustee other than reasonable
costs of investigation, except that the Indenture Trustee or the Co-Trustee,
as applicable, may have separate counsel and the Master Servicer shall pay its
fees and expenses if the Master Servicer is also a named party in the
proceeding and representation of both parties by the same counsel would be
inappropriate because of differing interests between them. After the notice
from the Master Servicer to the Indenture Trustee, the Master Servicer will
not be liable for the costs of any settlement of the action effected by the
Indenture Trustee or the Co-Trustee, as applicable, without the consent of the
Master Servicer. The Master Servicer's payment obligations to the Indenture
Trustee or the Co-Trustee, as applicable, pursuant to this Section shall
survive the termination of this Agreement or the earlier resignation or
discharge of the Indenture Trustee or the Co-Trustee, as applicable.

         Section 11. Amendments.
         This Agreement may be amended from time to time by the Trust and the
Administrator, with the consent of the Owner Trustee and the Indenture
Trustee, if the Rating Agency Condition is satisfied. This Agreement may also
be amended from time to time by the Trust and

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the Administrator, with the consent of the Owner Trustee, the Indenture
Trustee, and Holders of not less than 66(2)/3% of the aggregate Outstanding
Amount of the Notes.

         Section 12. Successors and Assigns.
         This Agreement may not be assigned by the Administrator unless the
Trust and the Indenture Trustee consent to the assignment in writing and the
Rating Agency Condition has been satisfied. An assignment satisfying the
conditions in the preceding sentence shall, if accepted by the assignee under
this Agreement, bind that assignee in the same manner as the Administrator is
bound under this Agreement. Notwithstanding the foregoing, this Agreement may
be assigned by the Administrator without the consent of the Trust or the
Indenture Trustee to a corporation or other organization that is a successor
(by merger, consolidation, or purchase of assets) to the Administrator if the
Rating Agency Condition is satisfied and the successor organization executes
and delivers to the Trust, the Owner Trustee, and the Indenture Trustee an
agreement in which that organization agrees to be bound under this Agreement
in the same manner as the Administrator is bound under this Agreement. Subject
to the foregoing, this Agreement shall bind any successors or assigns of the
parties hereto.

         Section 13. Governing Law.
         THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS PROVISIONS
THAT WOULD RESULT IN THE APPLICATION OF THE LAWS OF ANOTHER STATE.

         Section 14. Headings.
         The section headings of this Agreement have been inserted for
convenience of reference only and shall not be construed to affect this
Agreement.

         Section 15. Counterparts.
         This Agreement may be executed in counterparts, each of which when so
executed shall together constitute but one agreement.

         Section 16. Severability.
         Any provision of this Agreement that is prohibited or unenforceable
in any jurisdiction shall be ineffective to the extent of that prohibition or
unenforceability without invalidating the remaining provisions of this
Agreement. Any such prohibition or unenforceability in any jurisdiction shall
not invalidate or render unenforceable that provision in any other
jurisdiction.

         Section 17. Not Applicable to Countrywide Home Loans, Inc. in Other
Capacities.
         Nothing in this Agreement shall affect any obligation Countrywide
Home Loans, Inc. may have in any other capacity under the Related Agreements.

         Section 18. Limitation of Liability of Owner Trustee and Indenture
Trustee.
         (a) Notwithstanding anything contained in this Agreement to the
contrary, this instrument has been executed by Wilmington Trust Company, not
in its individual capacity but

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<PAGE>

solely in its capacity as Owner Trustee of the Trust. Neither in its
individual capacity, nor any beneficial owner of the Trust will have any
liability for the representations, warranties, covenants, agreements, or other
obligations of the Trust or the Owner Trustee under this Agreement, as to all
of which recourse shall be had solely to the assets of the Trust. For all
purposes of this Agreement, in the performance of any obligations of the Trust
under this Agreement, the Owner Trustee shall be subject to, and entitled to
the benefits of the Trust Agreement.

         (b) Notwithstanding anything contained in this Agreement to the
contrary, this Agreement has been executed by _____________________, not in
its individual capacity but solely as Indenture Trustee, and shall not have
any liability for the representations, warranties, covenants, agreements, or
other obligations of the Trust under this Agreement or in any of the
certificates, notices, or agreements delivered pursuant to this Agreement, as
to all of which recourse shall be had solely to the assets of the Trust.

         Section 19. Limitation of Liability of Administrator and Standard of
Care.
         (a) The Administrator will have no responsibility under this
Agreement other than to render the services called for under this Agreement in
good faith and without willful misfeasance, gross negligence, or reckless
disregard of its duties under this Agreement. The Administrator shall incur no
liability to anyone in acting on any signature, instrument, statement, notice,
resolution, request, direction, consent, order, certificate, report, opinion,
bond, or other document reasonably believed by it to be genuine and reasonably
believed by it to be signed by the proper parties. Neither the Administrator
nor any of its affiliates, directors, officers, shareholders, agents, or
employees will be liable under this Agreement to the Trust, the Owner Trustee,
the Indenture Trustee, the Master Servicer, the Transferor, or others, except
for acts or omissions constituting bad faith, willful misfeasance, gross
negligence, or reckless disregard of the Administrator's duties under this
Agreement.

         (b) Notwithstanding anything contained in this Agreement to the
contrary, this Agreement has been executed by Countrywide Home Loans, Inc., as
Administrator (and for Section 10, as the Master Servicer). Countrywide Home
Loans, Inc. shall not have any liability in its individual or any other
capacity for the representations, warranties, covenants, agreements, or other
obligations of the Trust or any other party to this Agreement or in any of the
Related Agreements.

         Section 20. Third-Party Beneficiary.
         The Owner Trustee is a third-party beneficiary to this Agreement and
is entitled to the rights and benefits under this Agreement and may enforce
the provisions of this Agreement as if it were a party to this Agreement.

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         IN WITNESS WHEREOF, the parties have caused this Agreement to be duly
executed and delivered as of the day and year first above written.

                               CWHEQ REVOLVING HOME EQUITY LOAN TRUST,
                                 SERIES 200_-_

                               By:   _____________________,
                                     not in its individual capacity, but
                                     solely as Owner Trustee

                               By:  ________________________________
                                    Name:
                                    Title:

                               COUNTRYWIDE HOME LOANS, INC.

                               By:  _________________________________
                                    Name:
                                    Title:

                               ______________________________________
                                  not in its individual capacity, but
                                  solely as Indenture Trustee

                               By:  _________________________________
                                    Name:
                                    Title:

<PAGE>

                                                                    EXHIBIT A

                               POWER OF ATTORNEY

STATE OF                     }
                             }
COUNTY OF                    }

         KNOW YE ALL MEN BY THESE PRESENTS, that CWHEQ Revolving Home Equity
Loan Trust, Series 200_-_, a Delaware statutory trust (the "Trust"), appoints
Countrywide Home Loans, Inc. (the administrator under the Administration
Agreement, dated as of ________, 200_ (the "Administration Agreement"), among
the Trust, the Indenture Trustee, and the Administrator) and its agents and
attorneys as Attorneys-in-Fact to act on behalf of the Trust as set forth in
the Administration Agreement.

         All powers of attorney for this purpose previously filed or executed
by the Trust are revoked.

         EXECUTED this ____ day of ______, 200_.

                                 CWHEQ REVOLVING HOME EQUITY LOAN TRUST,
                                 SERIES 200_-_

                                 By: _____________________
                                      not in its individual capacity, but
                                      solely as Owner Trustee

                                 By: __________________________________
                                     Name:
                                     Title:

<PAGE>

STATE OF               }
                       }
COUNTY OF              }

         Before me, the undersigned authority, on this day personally appeared
_________________________, known to me to be the person whose name is
subscribed to the foregoing instrument, and he/she acknowledged to me that
he/she signed the same for the purposes and considerations expressed in it.

Sworn to before me this ___
day of _______, 200_

_____________________________________
Notary Public - State of ____________EXHIBIT 10.1

===============================================================================

                        ------------------------------,

                                   as SELLER

                                      and

                                 CWHEQ, INC.,

                                 as PURCHASER

                MORTGAGE LOAN PURCHASE AND ASSIGNMENT AGREEMENT

                          Dated as of _________, 200_

                   ______ Mortgage Investment Trust 200_-__
                     Mortgage Backed Notes, Series 200_-__

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<PAGE>

                               TABLE OF CONTENTS

                MORTGAGE LOAN PURCHASE AND ASSIGNMENT AGREEMENT

                                                                           Page

RECITALS...................................................................1

AGREEMENT..................................................................2

1.  Purchase and Sale of Mortgage Loans....................................2
2.  Representations and Warranties.........................................4
3.  Survival of Representations............................................7
4.  Repurchase, Purchase or Substitution of Mortgage Loans.................8
5.  Covenants..............................................................8
6.  Successors and Assigns, Additional Information.........................9
7.  Indemnification........................................................9
8.  Notices...............................................................10
9.  Representations and Indemnities to Survive............................10
10. Miscellaneous.........................................................10
11. Severability of Provisions............................................10
12. Binding Nature of Agreement; Assignment...............................10
13. Entire Agreement......................................................11
14. Benefits of Agreement.................................................11

SCHEDULE I - MORTGAGE LOAN SCHEDULE.......................................I-1
SCHEDULE II -MORTGAGE LOAN REPRESENTATIONS AND WARRANTIES................II-1

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                MORTGAGE LOAN PURCHASE AND ASSIGNMENT AGREEMENT

     This Mortgage Loan Purchase and Assignment Agreement (the "Agreement")
dated as of _________, 200_, is executed on the Closing Date (as defined
below) by and between CWHEQ, Inc., a Delaware corporation (such entity, and
its successors and assigns, being referred to herein as the "Purchaser") and
______________________________, a _______________ organized as
______________________________, as seller (the "Seller" or the "Company").

     The Purchaser and the Seller hereby recite and agree as follows:

                                   RECITALS

     1. Schedule I attached hereto and made a part hereof lists certain
conventional, fixed and adjustable rate, first lien residential mortgage loans
(collectively, the "Mortgage Loans") owned by the Seller that the Seller
desires to sell, without recourse, to the Purchaser.

     2. The Seller desires to sell, without recourse, all of its right,
title and interest in and to the Mortgage Loans (other than its rights as
owner of the servicing rights under the Sale and Servicing Agreement) to the
Purchaser, and to transfer all of its obligations thereunder to the Purchaser
pursuant to this Agreement.

     3. The Purchaser desires to purchase such Mortgage Loans, and the
Purchaser intends immediately thereafter to transfer all of its right, title
and interest in and to the Mortgage Loans pursuant to the terms of a Sale and
Servicing Agreement dated as of _________, 200_ (the "Sale and Servicing
Agreement"), by and among the Seller, as seller, the Purchaser, as depositor,
___________________, as trust administrator and master servicer (in such
capacity, the "Master Servicer"), _______________________________, as
indenture trustee (the "Indenture Trustee"), _____________________, as
servicer, and ______ Mortgage Investment Trust 200_-__ (the "Issuer" or the
"Trust").

     4. The Trust shall issue the Mortgage Backed Notes, Series 200_-__,
[Class AF-1A], [Class AF-1B], [Class AF-2], [Class AF-3], [Class AF-4], [Class
AF-5A], [Class AF-5B], [Class AF-6], [Class MF-1], [Class MF-2], [Class MF-3],
[Class MF-4], [Class MF-5], [Class MF-6], [Class MF-7], [Class MF-8], [Class
BF], [Class 2-AV-1], [Class 2-AV-2], [Class 3-AV-1], [Class 3-AV-2], [Class
3-AV-3], [Class 3-AV-4], [Class MV-1], [Class MV-2], [Class MV-3], [Class
MV-4], [Class MV-5], [Class MV-6], [Class MV-7], [Class MV-8], [Class BV],
[Class PF], [Class PV], [Class CF] or [Class CV] Notes (collectively, the
"Notes").

     5. The Notes (other than the [Class B], [Class C] and [Class P]
Notes) will be offered and sold by -------------------------------------------
(the "Underwriters") pursuant to the terms and conditions of an underwriting
agreement among the Purchaser and the Underwriters dated ________, 200_ (the
"Underwriting Agreement"), through the use of a prospectus supplement dated
________, 200_ (the "Prospectus Supplement"), and the related prospectus dated
________, 200_ (the "Base Prospectus" and, together with the Prospectus
Supplement, the "Prospectus").

<PAGE>

     6. Capitalized terms used herein and not defined herein shall have
the meanings assigned to them in the Sale and Servicing Agreement.

                                   AGREEMENT

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

     1. Purchase and Sale of Mortgage Loans.

          (a) Concurrently with the execution and delivery hereof on
________, 200_ (the "Closing Date"), the Seller hereby sells, assigns,
transfers and otherwise conveys to the Purchaser, without recourse, all of its
right, title and interest (other than any servicing rights relating to the
Mortgage Loans) in and to the Mortgage Loans, including all interest and
principal received on or with respect to the Mortgage Loans on or after the
Cut-off Date (other than any such payments that were due on or prior to such
date) and all payments due after such date but received prior to such date and
intended by the related Mortgagors to be applied after such date, together
with all of the Seller's right, title and interest in and to any related
escrow account and all amounts from time to time credited to and the proceeds
of such account, the Seller's rights under any insurance policies related to
the Mortgage Loans and the proceeds thereof and the Seller's security interest
in any collateral pledged to secure the Mortgage Loans, including the
Mortgaged Properties.

          (b) The Seller further agrees, at its own expense, on or prior
to the Closing Date, (i) to indicate in its books and records that the
Mortgage Loans have been sold to the Issuer, as assignee of the Purchaser and
(ii) to deliver to the Purchaser a data file in the form of Schedule I
containing a true and complete list of all such Mortgage Loans (the "Mortgage
Loan Schedule"). The Mortgage Loan Schedule shall conform to the requirements
set forth in this Agreement and to the definition of "Mortgage Loan Schedule"
in the Sale and Servicing Agreement. In connection with such transfer and
assignment of the Mortgage Loans hereunder, the Seller does hereby deliver, or
cause to be delivered, to the Purchaser (or its designee) each Mortgage File
relating to the Mortgage Loans in the manner set forth in Section 2.01 of the
Sale and Servicing Agreement. In the case of Mortgage Loans (if any) that have
been prepaid in full after the Cut-off Date and prior to the execution of this
Agreement, the Seller, in lieu of delivering the related Mortgage Files, shall
herewith deliver to the Purchaser an Officer's Certificate which shall include
a statement to the effect that all amounts received in connection with such
prepayment that are required to be deposited in the Collection Account have
been so deposited. The Seller hereby covenants not to take any action
inconsistent with the ownership interest of the Purchaser or its assignee and
any subsequent assignee or pledgee in the Mortgage Files.

          (c) The Purchaser and the Seller intend that on the Closing Date
the conveyance by the Seller to the Purchaser of all its right, title and
interest in and to the Mortgage Loans pursuant to this Agreement shall be, and
be construed as, a sale of the Mortgage Loans, without recourse. It is,
further, not intended that such conveyance be deemed to be a pledge of the
Mortgage Loans by the Seller to the Purchaser to secure a debt or other
obligation of the

                                      2
<PAGE>

Seller. However, in the event that the Mortgage Loans are held to be property
of the Seller, or if this Agreement is held or deemed to create a security
interest in the Mortgage Loans, then it is intended that (i) 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 and the Uniform Commercial
Code of any other applicable jurisdiction; (ii) the conveyances provided for
in this Section 1 shall be deemed to be a grant by the Seller to the
Purchaser, to secure payment in full of the Secured Obligations (as defined
below), of a security interest in all of the Seller's right (including the
power to convey title thereto), title and interest, whether now owned or
hereafter acquired, in and to the Mortgage Loans, including without limitation
the Mortgage Notes, the Mortgages, any related insurance policies, the
Seller's security interest in any collateral pledged to secure the Mortgage
Loans with respect to the Mortgage Loans and all other documents in the
related Mortgage Files, and all accounts, general intangibles, chattel paper,
instruments, documents, money, deposit accounts, certificates of deposit,
goods, letters of credit, advices of credit and investment property
constituting part of the assets of the Trust, arising from or relating to (A)
the Mortgage Loans (other than any servicing rights relating to the Mortgage
Loans), including with respect to each Mortgage Loan, the Mortgage Note and
related Mortgage, and all other documents in the related Mortgage Files, and
including any Qualifying Substitute Mortgage Loans; (B) pool insurance
policies, hazard insurance policies and any bankruptcy bond relating to the
foregoing, if applicable; (C) all amounts payable on or after the Cut-off Date
(other than any such payments that were due on or prior to such date) to the
holders of the Mortgage Loans in accordance with the terms thereof; (D) all
income, payments, proceeds and products of the conversion, voluntary or
involuntary, of the foregoing into cash, instruments, securities or other
property; and (E) all cash and non-cash proceeds of any of the foregoing;
(iii) the possession or control by the Indenture Trustee or any agent of the
Indenture Trustee of Mortgage Notes or such other items of property as
constitute instruments, money, documents, advices of credit, letters of
credit, goods, certificated securities or chattel paper shall be deemed to be
possession or control by the secured party, or possession or control by the
Purchaser, for purposes of perfecting the security interest pursuant to the
Uniform Commercial Code (including, without limitation, Sections 9-312 or
9-313 thereof); and (iv) notifications to persons holding such property, and
acknowledgments, receipts or confirmations from persons holding such property,
shall be deemed notifications to, or acknowledgements, receipts or
confirmations from, securities intermediaries, bailees or agents of, or
persons holding for, the Indenture Trustee, as applicable, for the purpose of
perfecting such security interest under applicable law. "Secured Obligations"
means the rights of the Purchaser under this Agreement. The Seller shall, to
the extent consistent with this Agreement, take such reasonable actions as may
be necessary to ensure that, if this Agreement were deemed to create a
security interest in the Mortgage Loans and the other property described
above, such security interest would be deemed to be a perfected security
interest of first priority under applicable law and would be maintained as
such throughout the term of this Agreement. Without limiting the generality of
the foregoing, the Seller shall prepare and deliver to the Purchaser at least
two months prior to any filing date, and the Purchaser shall file, or shall
cause to be filed, at the expense of the Seller, all filings necessary to
maintain the effectiveness of any original filings necessary under the Uniform
Commercial Code as in effect in any jurisdiction to perfect the Purchaser's
security interest in or lien on the Mortgage Loans.

     Notwithstanding the foregoing provisions of this Section 1, (i) the
Seller, as a servicer of the Mortgage Loans, shall retain the servicing rights
(including, without limitation, primary

                                      3
<PAGE>

servicing) with respect to the Mortgage Loans, and rights to receive servicing
fees, servicing income, reimbursement for advances made in respect of such
Mortgage Loans and other payments made as compensation for such servicing
subject to the Sale and Servicing Agreement pursuant to the terms and
conditions set forth therein (collectively, the "Servicing Rights") and (ii)
the Servicing Rights are not included in the collateral in which the Seller
grants a security interest in favor of the Purchaser pursuant to the
immediately preceding paragraph, nor are the Servicing Rights included in the
assets being sold pursuant to this Agreement.

          (d) In consideration of the sale of the Mortgage Loans from the
Seller to the Purchaser on the Closing Date, the Purchaser agrees on the
Closing Date (i) to pay to the Seller by transfer of immediately available
funds, an amount equal to $_______________, which is net of (A) an amount of
$___________ representing the current Securities and Exchange Commission
registration statement fees for the amount of Notes issued on the Closing Date
and offered publicly pursuant to the Prospectus and (B) the underwriting
discount, (ii) to deliver to the Seller the [Class B] and [Class P] Notes and
(iii) to transfer to the Seller or one of its Affiliates on the Closing Date
the Ownership Certificate (together, the "Purchase Price"). The Seller shall
pay, and be billed directly for, all expenses incurred by the Purchaser in
connection with the issuance of the Notes, including, without limitation,
upfront payments due to the Cap Counterparty in respect of the Interest Rate
Cap Agreements, printing fees incurred in connection with the prospectus
relating to the Notes, blue sky registration fees and expenses, fees and
expenses of Sidley Austin LLP, fees of the rating agencies requested to rate
the Notes, accountant's fees and expenses, Custodian fees, loan level due
diligence fees, the fees and expenses of the Indenture Trustee and the Owner
Trustee, the fees (other than any fees to which the Master Servicer is
entitled pursuant to the Sale and Servicing Agreement) and expenses of the
Master Servicer and Trust Administrator and other out-of-pocket costs, if any.

     2. Representations and Warranties.

          (a) The Seller hereby represents and warrants to the Purchaser
that, as of the date of this Agreement:

               (i) The Company is a ___________, duly organized validly
     existing and in good standing under the laws of the _______________, and
     has the corporate power to own its assets and to transact the business in
     which it is currently engaged. The Company is duly qualified to do
     business as a foreign corporation and is in good standing in each
     jurisdiction in which the character of the business transacted by it or
     any properties owned or leased by it requires such qualification and in
     which the failure so to qualify would have a material adverse effect on
     the business, properties, assets, or condition (financial or other) of
     the Company;

               (ii) The Company has the corporate power and authority to make,
     execute, deliver and perform this Agreement and all of the transactions
     contemplated under this Agreement, and has taken all necessary corporate
     action to authorize the execution, delivery and performance of this
     Agreement. When executed and delivered, this Agreement will constitute
     the legal, valid and binding obligation of the Company enforceable in
     accordance with its terms, except as enforcement of such terms may be

                                      4
<PAGE>

     limited by bankruptcy, insolvency or similar laws affecting the
     enforcement of creditors' rights generally and by the availability of
     equitable remedies;

               (iii) [The Company has been organized in conformity with the
     requirements for qualification as a REIT; the Company has filed an
     election to be treated as a REIT for federal income tax purposes; and the
     Company currently qualifies as, and it proposes to operate in a manner
     that will enable it to continue to qualify as, a REIT;]

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

               (v) Neither the execution and delivery of this Agreement, the
     sale of the Mortgage Loans to the Purchaser or the transactions
     contemplated hereby, nor the fulfillment of or compliance with the terms
     and conditions of this Agreement will conflict with or result in a breach
     of any of the terms, articles of incorporation or by-laws, or constitute
     a default or result in the violation of any law, rule, regulation, order,
     judgment or decree to which the Company or its property is subject, or
     constitute a default under or result in the acceleration of payment under
     any material agreement, indenture or loan or credit agreement or other
     material instrument to which the Company or its property are subject;

               (vi) The Company 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. The Company is solvent and the sale of the
     Mortgage Loans will not cause the Company to become insolvent. The sale
     of the Mortgage Loans is not undertaken to hinder, delay or defraud any
     of the Company's creditors;

               (vii) Other than those matters which are disclosed in the
     Prospectus Supplement under the caption "Risk Factors--_________________,"
     there is no action, suit, proceeding or investigation pending or, to the
     knowledge of the Seller, threatened against the Company which, either in
     any one instance or in the aggregate, may result in any material adverse
     change in the business, operations, financial condition, properties or
     assets of the Company, or in any material impairment of the right or
     ability of the Company to carry on its business substantially as now
     conducted, or in any material liability on the part of the Company, or
     which would draw into question the validity of this Agreement or the
     Mortgage Loans or of any action taken or to be contemplated herein, or
     which would be likely to impair materially the ability of the Company to
     perform under the terms of this Agreement;

               (viii) No consent, approval, authorization or order of any court
     or governmental agency or body is required for the execution, delivery and
     performance by the Company of or compliance by the Company with this
     Agreement or the sale of the Mortgage Loans as evidenced by the
     consummation of the transactions contemplated by this Agreement, or if
     required, such approval has been obtained prior to the Closing Date;

                                      5
<PAGE>

               (ix) The selection of the Mortgage Loans was not made in a manner
     so as to affect adversely the interests of the Purchaser;

               (x) Neither this Agreement nor any statement, report or other
     document furnished or to be furnished pursuant to this Agreement or in
     connection with the transactions contemplated hereby contains any untrue
     statement of fact;

               (xi) There has been no change in the business, operations,
     financial condition or assets of the Company since ____________, 200_,
     that would have a material adverse effect on its ability to perform its
     obligations under this Agreement or the Sale and Servicing Agreement;

               (xii) The Company has not dealt with any broker, investment
     banker, agent or other Person (other than the Underwriters) that may be
     entitled to any commission or compensation in the connection with the sale
     of the Mortgage Loans;

               (xiii) The consideration received by the Company upon the sale of
     the Mortgage Loans under this Agreement constitutes fair consideration
     and reasonably equivalent value of the Mortgage Loans; and

               (xiv) The Company has complied with all applicable anti-money
     laundering laws and regulations (the "Anti-Money Laundering Laws") and
     has established an anti-money laundering compliance program as required
     by the Anti-Money Laundering Laws.

          (b) The Seller hereby makes the representations and warranties set
forth in Schedule II hereto with respect to each Mortgage Loan and by this
reference incorporated herein, to the Purchaser and the Indenture Trustee, as
of the Closing Date or, if applicable, such other date as may be specified
therein. With respect to any of the representations and warranties made in
Schedule II that are made to the best of the Seller's knowledge or as to which
the Seller has no knowledge, if it is discovered by the Purchaser, the Seller,
the Issuer or the Indenture Trustee that the substance of such representation
and warranty is inaccurate and such inaccuracy materially and adversely
affects the value of the related Mortgage Loan or the interest therein of the
Noteholders then, notwithstanding the Seller's lack of knowledge with respect
to the substance of such representation and warranty being inaccurate at the
time the representation or warranty was made, such inaccuracy shall be deemed
a breach of the applicable representation or warranty.

          (c) The Purchaser hereby represents and warrants to the Seller that,
as of the date of this Agreement:

               (i) it is a corporation duly organized, validly existing and in
     good standing under the laws of the State of Delaware and has full power
     and authority to enter into and perform its obligations under this
     Agreement and the Sale and Servicing Agreement;

               (ii) this Agreement and the Sale and Servicing Agreement have
     been duly authorized, executed and delivered by the Purchaser and
     constitute the legal, valid

                                      6
<PAGE>

     and binding agreements of the Purchaser enforceable against the Purchaser
     in accordance with their respective terms, subject to (A) bankruptcy,
     insolvency, receivership, conservatorship, reorganization, moratorium or
     other similar laws affecting creditors' rights generally, (B) general
     principles of equity regardless of whether enforcement is sought in a
     proceeding in equity or at law, and (C) public policy considerations
     limiting the enforceability of provisions of this Agreement and the Sale
     and Servicing Agreement which purport to provide indemnification from
     penalties under applicable securities laws;

               (iii) neither the execution and delivery by the Purchaser of this
     Agreement, nor the performance by the Purchaser of the provisions hereof,
     will (A) conflict with or result in a breach of, or constitute a default
     under, any of the provisions of the certificate of incorporation or
     bylaws of the Purchaser or any law, governmental rule or regulation or
     any judgment, decree or order binding on the Purchaser or any of its
     properties, or any of the provisions of any indenture, mortgage, deed of
     trust, contract or other instrument to which the Purchaser is a party or
     by which it is bound, or (B) result in the creation of any lien, charge,
     or encumbrance upon any of its properties pursuant to the terms of any
     such indenture, mortgage, deed of trust, contract or other instrument,
     which, in the case of either (A) or (B), would have a material adverse
     effect on its ability to perform its obligations hereunder or on the
     financial condition of the Purchaser;

               (iv) there are no actions, suits or proceedings against the
     Purchaser pending or, to the knowledge of the Purchaser, threatened, or,
     to the knowledge of the Purchaser, investigations pending, before any
     court, administrative agency or other tribunal (A) asserting the
     invalidity of this Agreement, (B) seeking to prevent the consummation of
     any of the transactions contemplated by this Agreement or (C) which might
     materially and adversely affect the performance by the Purchaser of its
     obligations under, or the validity or enforceability of, this Agreement;

               (v) the Purchaser is not in violation of its certificate of
     incorporation or bylaws or in default under any agreement, indenture or
     instrument the effect of which default would have a material adverse
     effect on the ability of the Purchaser to perform its obligations under
     this Agreement or on the financial condition of the Purchaser;

               (vi) the Purchaser is not a party to, bound by or in breach or
     violation of any indenture or other agreement or order or regulation of
     any court, regulatory body, administrative agency or governmental body
     having jurisdiction over it that materially and adversely affects the (A)
     ability of the Purchaser to perform its obligations under this Agreement
     or (B) the business, operations, financial condition, properties or
     assets of the Purchaser; and

               (vii) no consent, approval, authorization or order of any federal
     or state court or governmental agency or body is required for the
     consummation by the Purchaser of the transactions contemplated by the
     terms of this Agreement.

     3. Survival of Representations. Each of the representations and
warranties of the Seller and the Purchaser contained herein shall survive the
purchase and sale of the Mortgage Loans pursuant hereto and shall continue in
full force and effect, notwithstanding any restrictive

                                      7
<PAGE>

or qualified endorsement on the Mortgage Notes and notwithstanding subsequent
termination of this Agreement. The representations and warranties shall not be
impaired by any review and examination of documents to be delivered or held by
the Seller in respect of each Mortgage Loan or other documents evidencing or
relating to the Mortgage Loans or any failure on the part of the Purchaser or
any successor or assignee thereof to review or examine such documents.

     4. Repurchase, Purchase or Substitution of Mortgage Loans.

          (a) Upon discovery by the Purchaser, the Seller, the Master Servicer
or any assignee, transferee or designee of the Purchaser of a Material Defect
with respect to a Mortgage Loan or a breach of any of the representations and
warranties of the Seller contained in Section 2 of this Agreement 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 the Material Defect or breach shall give
prompt written notice to the others. Within 90 days of the discovery of such
Material Defect or breach of any representation or warranty given by the
Seller to the Purchaser, the Seller shall either (a) cure such Material Defect
or such breach in all material respects, (b) repurchase such Mortgage Loan or
any property acquired in respect thereof from the Purchaser for the Purchase
Price (as defined in the Sale and Servicing Agreement) or (c) within the two
year period following the Closing Date, substitute a Qualifying Substitute
Mortgage Loan for the affected Mortgage Loan, in accordance with Sections 2.02
and 3.02 of the Sale and Servicing Agreement, as applicable. If any
substitution is made for a Mortgage Loan for which there is a Material Defect
or breach of any of the representations and warranties which adversely and
materially affects the value of such Mortgage Loan and such substitute
mortgage loan is not a Qualifying Substitute Mortgage Loan, the Seller will,
in exchange for such substitute Mortgage Loan, (i) provide the applicable
Purchase Price (as defined in the Sale and Servicing Agreement) for the
affected Mortgage Loan or (ii) within two years of the Closing Date,
substitute such affected Mortgage Loan with a Qualifying Substitute Mortgage
Loan.

          (b) It is understood and agreed that the obligations of the Seller
set forth in this Section 4 to cure, repurchase or substitute for a defective
Mortgage Loan (together with its indemnification obligations set forth in
Section 7) constitute the sole remedies of the Purchaser with respect to a
missing or defective document, Material Defect or a breach of any of the
representations or warranties of the Seller contained in Section 2.

     5. Covenants.

          (a) The Seller hereby covenants that, except for the transfer
hereunder, the Seller will not sell, pledge, assign or transfer to any other
Person, or grant, create, incur, assume or suffer to exist any Lien on any
Mortgage Loan, or any interest therein; the Seller will notify the Purchaser
at its address specified herein and the Indenture Trustee at its Corporate
Trust Office of the existence of any Lien on any Mortgage Loan immediately
upon discovery thereof; and the Seller will defend the right, title and
interest of the Trust Estate, as assignee of the Purchaser, in, to and under
the Mortgage Loans, against all claims of third parties claiming through or
under the Seller; provided, however, that nothing in this Section shall
prevent or be deemed to prohibit the Seller from suffering to exist upon any
of the Mortgage Loans any liens for municipal or other local taxes and other
governmental

                                      8
<PAGE>

charges if such taxes or governmental charges shall not at the time be due and
payable or if the Seller shall currently be contesting the validity thereof in
good faith by appropriate proceedings and shall have set aside on its books
adequate reserves with respect thereto.

          (b) The Seller hereby covenants to the Purchaser that at any time
when a prospectus relating to the Notes is required to be delivered pursuant
to the Securities Act, if the Seller has knowledge that there has been a
material change affecting the disclosures in the Prospectus Supplement
relating to the Seller or the Mortgage Loans or that such disclosures therein
contain any untrue fact or omit to state a material fact necessary to make the
statements therein, in the light of the circumstances under which they were
made, not misleading, the Seller promptly will notify the Purchaser of such
change, untrue fact or omission and update the Prospectus Supplement at its
expense subject to the prior written consent of the Purchaser. The Seller also
agrees that, if required by applicable law, it will update the information
relating to the Seller or the Mortgage Loans in the Prospectus Supplement at
its expense, subject to the prior written consent of the Purchaser.

     6. Successors and Assigns, Additional Information.

          (a) This Agreement shall be binding upon and inure to the benefit of
the parties hereto and their respective successors and assigns. No party
hereto may assign either this Agreement or any of its rights, interests or
obligations hereunder without the prior written approval of the other parties
hereto; provided, however, that the Purchaser may assign its rights and
interests and delegate its obligations hereunder to the Trust and the Trust
may then pledge its rights and interests to the Indenture Trustee, and the
Indenture Trustee then shall succeed to all rights and interests of the
Purchaser under this Agreement without the consent of the other party hereto.

          (b) The Seller hereby agrees to furnish any and all information,
documents, certificates, letters or opinions with respect to the Mortgage
Loans reasonably requested by the Purchaser in order to perform any of its
obligations or satisfy any of the conditions on its part to be performed or
satisfied pursuant to the Sale and Servicing Agreement or the Underwriting
Agreement.

     7. Indemnification.

          (a) In addition to any repurchase and cure obligations of the Seller
under this Agreement and any and all other remedies available to the Purchaser
under this Agreement, the Seller shall indemnify and hold harmless the
Purchaser against any and all losses, damages, penalties, fines, claims,
forfeitures, lawsuits, court costs, reasonable attorney's fees, judgments, and
any other costs, fees, and expenses, arising from claims made or actions
brought by any person other than the Purchaser based on or arising from breach
of any warranty, obligation, representation, or covenant contained in or made
by the Seller in writing, pursuant to this Agreement (except as set forth in
Section 2(a)(x) herein) by any agent, employee, representative or officer of
the Seller or any of its affiliates. The Seller shall assume the defense of
any such claim and pay all expenses in connection therewith, including
reasonable counsel fees, and promptly pay, discharge and satisfy any judgment
or decree which may be entered against the Purchaser or any such person or
entity in respect of such claim. It is understood and agreed that

                                      9
<PAGE>

any permitted assignee of the Purchaser (including the Indenture Trustee)
shall be a third party beneficiary of this Agreement. The indemnification
obligations of the Seller hereunder shall survive the termination of this
Agreement.

          (b) Notwithstanding any other provision of this Agreement, in
connection with the issuance of the Notes, the Seller shall agree to such
modifications and enter into such amendments to this Agreement as may be
necessary, in the reasonable judgment of the Purchaser and its counsel, to
comply with any rules promulgated by the Securities and Exchange Commission
(the "Commission") and any interpretations thereof by the staff of the
Commission (collectively, the "SEC Rules"), with reasonable notice to the
Seller given the circumstances at such time.

     8. Notices. All demands, notices and communications hereunder shall be
in writing, shall be effective only upon receipt and shall, if sent to the
Purchaser, be addressed to it at CWHEQ, Inc., 4500 Park Granada, Calabasas,
California 91302, Attention: _____ 200_-__; if sent to the Seller, be
addressed to it at ________________________________, Attention:
____________________________ (with a copy to [the General Counsel]).

     9. Representations and Indemnities to Survive. The respective
agreements, representations, warranties, covenants, indemnities and other
statements of the Purchaser and the Seller and their respective officers set
forth in or made pursuant to this Agreement shall remain in full force and
effect, regardless of any investigation made by or on behalf of the Purchaser
or the Seller, and will survive delivery of and payment for the Mortgage
Loans. The provisions of Section 7 hereof shall survive the termination of
cancellation or this Agreement.

     10. Miscellaneous. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS
CONFLICT OF LAW PROVISIONS (OTHER THAN SECTION 5-1401 OF THE GENERAL
OBLIGATIONS LAW), AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES
HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. Neither this
Agreement nor any term hereof may be changed, waived, discharged or terminated
except by a writing signed by the party against whom enforcement of such
change, waiver, discharge or termination is sought. This Agreement may be
signed in any number of counterparts, each of which shall be deemed an
original, which taken together shall constitute one and the same instrument.

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

     12. Binding Nature of Agreement; Assignment. This Agreement shall be
binding upon and inure to the benefit of the parties hereto and their
respective successors and permitted assigns.

                                      10
<PAGE>

     13. Entire Agreement. This Agreement contains the entire agreement
and understanding among the parties hereto with respect to the subject matter
hereof, and supersedes all prior agreements, understandings, inducements and
conditions, express or implied, oral or written, of any nature whatsoever with
respect to the subject matter hereof. The express terms hereof control and
supersede any course of performance and/or usage of the trade inconsistent
with any of the terms hereof.

     14. Benefits of Agreement. The parties to this Agreement agree that
it is appropriate, in furtherance of the intent of such parties set forth
herein, that the Indenture Trustee enjoys the full benefit of the provisions
of this Agreement as an intended third party beneficiary; provided, however,
nothing in this Agreement, express or implied, shall give to any Person, other
than the parties to this Agreement and their successors hereunder, the
Indenture Trustee and the Noteholders, any benefit or legal or equitable
right, power, remedy or claim under this Agreement.

                                     * * *

                                      11
<PAGE>

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed by their respective officers as of the date hereinabove
written.

                                   CWHEQ, INC.

                                   By: _______________________________________
                                       Name:
                                       Title:

                                   ------------------------------

                                   By: _______________________________________
                                       Name:
                                       Title:

                                     MLPA
<PAGE>

                                  SCHEDULE I

                            MORTGAGE LOAN SCHEDULE

                         [On file with the Custodian.]

                                     I-1

<PAGE>

                                  SCHEDULE II

                 MORTGAGE LOAN REPRESENTATIONS AND WARRANTIES

     The Seller hereby represents and warrants to, and covenants with, the
Purchaser that, as to each Mortgage Loan, as of the Closing Date or such
other date specifically set forth herein, and with respect to representation
(a) listed below, as of the Cut-off Date:

          (a) [Mortgage Loans as Described. The information set forth in the
Mortgage Loan Schedule is complete, true and correct in all material respects;

          (b) Payments Current. All payments required to be made up to and
including the Cut-off Date for the Mortgage Loan under the terms of the
Mortgage Note have been made and credited. No payment required under the
Mortgage Loan has been delinquent for 30 days or more in the 12 months
preceding the related Closing Date;

          (c) No Outstanding Charges. There are no defaults in complying with
the terms of the Mortgage, and all taxes, governmental assessments, insurance
premiums, water, sewer and municipal charges, leasehold payments or ground
rents which previously became due and owing have been paid, or an escrow of
funds has been established in an amount sufficient to pay for every such item
which remains unpaid and which has been assessed but is not yet due and
payable. The Seller has not advanced funds, or induced, solicited or knowingly
received any advance of funds by a party other than the Mortgagor, directly or
indirectly, for the payment of any amount required under the Mortgage Loan,
except for interest accruing from the date of the Mortgage Note or date of
disbursement of the Mortgage Loan proceeds, whichever is earlier, to the day
which precedes by one month the Due Date of the first installment of principal
and interest;

          (d) Original Terms Unmodified. The terms of the Mortgage Note and
Mortgage have not been impaired, waived, altered or modified in any respect,
except by a written instrument which has been recorded, if necessary to
protect the interests of the Purchaser and which has been delivered to the
Purchaser. The substance of any such waiver, alteration or modification has
been approved by the issuer of any related PMI Policy and the title insurer,
to the extent required by the policy, and its terms are reflected on the
Mortgage Loan Schedule. No Mortgagor has been released, in whole or in part,
except in connection with an assumption agreement approved by the issuer of
any related PMI Policy and the title insurer, to the extent required by the
policy, and which assumption agreement is part of the Mortgage Loan File
delivered to the Purchaser and the terms of which are reflected in the
Mortgage Loan Schedule;

          (e) No Defenses. The Mortgage Loan is 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 or the Mortgage, or the exercise of any right thereunder, render either
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 without limitation the defense of usury, and no such right of
rescission, set-off, counterclaim or defense has been asserted with respect
thereto;

                                     II-1
<PAGE>

          (f) Hazard Insurance. Pursuant to the terms of the Mortgage, all
buildings or other improvements upon the Mortgaged Property are insured by a
generally acceptable insurer against loss by fire, hazards of extended
coverage and such other hazards as are customary in the area where the
Mortgaged Property is located. If upon origination of the Mortgage Loan, the
Mortgaged Property was in an area identified in the Federal Register by the
Federal Emergency Management Agency as having special flood hazards a
life-of-loan flood insurance policy meeting the requirements of the current
guidelines of the Federal Flood Insurance Administration is in effect. The
Mortgage obligates the Mortgagor thereunder to maintain the hazard insurance
policy 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 such Mortgagor's cost and expense, and to seek reimbursement
therefor from the Mortgagor. Where required by state law or regulation, the
Mortgagor has been given an opportunity to choose the carrier of the required
hazard insurance, provided the policy is not a "master" or "blanket" hazard
insurance policy covering the common facilities of a planned unit development.
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 Purchaser upon the consummation of the
transactions contemplated by this Agreement. The Seller has not engaged in,
and has no knowledge of the Mortgagor's or any subservicer's having engaged
in, any act or omission which 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 the Seller;

          (g) Compliance with Applicable Laws. Each Mortgage Loan at the time
it was made complied in all material respects with applicable local, state,
and federal laws, including, but not limited to all applicable predatory and
abusive lending laws and 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,
disclosure laws, all applicable predatory and abusive lending laws or unfair
and deceptive practices laws) applicable to the Mortgage Loan have been
complied with, and the Seller shall maintain in its possession, available for
the Purchaser's inspection, and shall deliver to the Purchaser, evidence of
compliance with all such requirements;

          (h) No Satisfaction of Mortgage. The Mortgage has not been
satisfied, canceled, 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 release, cancellation, subordination or rescission;

          (i) Location and Type of Mortgaged Property. 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 low-rise condominium project, or an individual unit in a
planned unit development, provided, however, that no residence or dwelling is
a mobile home or a manufactured dwelling. No portion of the Mortgaged Property
is used for commercial purposes;

                                     II-2
<PAGE>

          (j) Valid First Lien. The Mortgage is a valid, subsisting
enforceable and perfected first lien on the Mortgaged Property, including all
improvements. The lien of the Mortgage is subject only to:

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

               (ii) covenants, conditions and restrictions, rights of
          way, easements and other matters of the public record as of the date
          of recording acceptable to mortgage lending institutions generally
          and specifically referred to in the lender's title insurance policy
          delivered to the originator of the Mortgage Loan; and

               (iii) 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;

Any security agreement, chattel mortgage or equivalent document related to and
delivered in connection with the Mortgage Loan establishes and creates a
valid, subsisting and enforceable first lien and first priority security
interest on the property described therein and the Seller has full right to
sell and assign the same to the Purchaser;

          (k) Validity of Mortgage Documents. The Mortgage Note and the
Mortgage are genuine, and each is the legal, valid and binding obligation of
the maker thereof enforceable in accordance with its terms, except as the
enforceability thereof may be limited by bankruptcy, insolvency, or
reorganization or other laws relating to the rights of creditors. All parties
to the Mortgage Note and the Mortgage had legal capacity to enter into the
Mortgage Loan and to execute and deliver the Mortgage Note and the Mortgage,
and the Mortgage Note and the Mortgage have been duly and properly executed by
such parties. To the best of the Seller's knowledge, no fraud was committed in
connection with the origination of the Mortgage Loan and the Seller is not
aware of any fact that would reasonably lead the Seller to believe that any
Mortgagor committed fraud in connection with the origination of any Mortgage
Loan;

          (l) Full Disbursement of Proceeds. The Mortgage Loan has been closed
and the proceeds of the Mortgage Loan have been fully disbursed and there is
no requirement for future advances thereunder, and any and all requirements as
to completion of any 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 were paid;

          (m) Ownership. The Seller is the sole owner of record and holder of
the Mortgage Loan (other than any servicing rights with respect to the
Mortgage Loans, which are held by _____________________). The Mortgage Loan
(other than any servicing rights with respect to the Mortgage Loans, which are
held by _____________________) and the related Mortgage Note and the Mortgage
are not assigned or pledged, and the Seller has good and marketable title
thereto, and has full right to transfer and sell the Mortgage Loan (other than
any servicing rights with respect to the Mortgage Loans, which are held by

                                     II-3

_____________________) therein to the Purchaser free and clear of any
encumbrance, equity, participation interest, lien, pledge, charge, claim or
security interest, and has full right and authority subject to no interest or
participation of, or agreement with, any other party, to sell and assign each
Mortgage Loan (other than any servicing rights with respect to the Mortgage
Loans, which are held by _____________________) pursuant to this Agreement;

          (n) Doing Business. To the best of the Seller's knowledge, all
parties which have had any interest in the Mortgage Loan, whether as
mortgagee, assignee, pledgee or otherwise, are (or, during the period in which
they held and disposed of such interest, were) (1) in compliance with any and
all applicable licensing requirements of the laws of the state wherein the
Mortgaged Property is located, and (2) organized under the laws of such state,
or (3) qualified to do business in such state, or (4) federal savings and loan
associations or national banks having principal offices in such state, or (5)
not doing business in such state;

          (o) LTV. The Mortgage Loan has an LTV equal to or less than the
amount set forth on the Mortgage Loan Schedule;

          (p) Title Insurance. The Mortgage Loan is covered by an ALTA
lender's title insurance policy or other generally acceptable form of policy,
issued by a generally acceptable title insurer and qualified to do business in
the jurisdiction where the Mortgaged Property is located, insuring the Seller,
its successors and assigns, as to the first priority lien of the Mortgage in
the original principal amount of the Mortgage Loan subject only to the
exceptions contained in clauses (1), (2) and (3) of paragraph (j) of these
representations and warranties. Additionally, such lender's title insurance
policy affirmatively insures ingress and egress, and against encroachments by
or upon the Mortgaged Property or any interest therein. The Seller is the sole
insured of such lender's title insurance policy, and such lender's title
insurance policy is in full force and effect and will be in 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 Mortgage, including the Seller, has done, by act or omission,
anything which would impair the coverage of such lender's title insurance
policy;

          (q) No Defaults. There is no default, breach, violation or event of
acceleration existing under the Mortgage or the 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 of
acceleration, the Seller has not waived any default, breach, violation or
event of acceleration;

          (r) No Mechanics' Liens. To the best of the Seller's knowledge,
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 the law
could give rise to such liens) affecting the related Mortgaged Property which
are or may be liens prior to, or equal or coordinate with, the lien of the
related Mortgage;

          (s) Location of Improvements; No Encroachments. To the best of the
Seller's knowledge, all improvements which were considered in determining the
Appraised Value of the 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

                                     II-4
<PAGE>

Property (except those exceptions contained in clauses (1), (2) and (3) of
paragraph (j). To the best of the Seller's knowledge, no improvement located
on or being part of the Mortgaged Property is in violation of any applicable
zoning law or regulation;

          (t) Origination: Payment Terms. At the time the Mortgage Loan was
originated, the originator was a mortgagee approved by the Secretary of
Housing and Urban Development pursuant to Sections 203 and 211 of the National
Housing Act or a savings and loan association, a savings bank, a commercial
bank or similar banking institution which is supervised and examined by a
Federal or State authority. The Mortgage Interest Rate is the rate adjusted on
each Interest Rate Adjustment Date to equal the Index plus the Gross Margin,
rounded up or down to the nearest [0.125]%, subject to the Periodic Rate Cap
and the Lifetime Rate Cap. The Mortgage Note is payable in substantially equal
monthly installments of principal and interest, with interest calculated and
payable in arrears, sufficient to amortize the Mortgage Loan fully by the
stated maturity date, over an original term of not more than thirty years from
commencement of amortization (except with respect to [__]% of the Mortgage
Loans, which provide for payment of interest at the related mortgage rate, but
no payment of principal, for the first five years following origination of
such Mortgage Loans). No Mortgage Loan provides for negative amortization. No
Mortgage Loan is a Convertible Mortgage Loan.

          (u) Customary Provisions. 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, (i) in the case of a Mortgage designated as a deed of trust, by
trustee's sale, and (ii) otherwise by judicial foreclosure. There is no
homestead or other exemption available to the Mortgagor which would interfere
with the right to sell the Mortgaged Property at a trustee's sale or the right
to foreclose the Mortgage subject to applicable federal and state laws and
judicial precedent with respect to bankruptcy and right of redemption;

          (v) Conformance with Underwriting Guidelines. The Mortgage Loan was
underwritten or re-underwritten in accordance with the Seller's underwriting
guidelines in effect at the time the Mortgage Loan was originated, a copy of
which underwriting guidelines are attached as Exhibit A hereto. The Mortgage
Note and Mortgage are on forms generally acceptable in the secondary market;

          (w) Occupancy of the Mortgaged Property. To the best of the Seller's
knowledge, as of the related Closing Date the Mortgaged Property is lawfully
occupied under applicable law. To the best of the Seller's knowledge, 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;

          (x) No Additional Collateral. The Mortgage Note is not and has not
been secured by any collateral except the lien of the corresponding Mortgage
and the security interest of any applicable security agreement or chattel
mortgage referred to in (j) above;

                                     II-5
<PAGE>

          (y) Deeds of Trust. 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;

          (z) Delivery of Mortgage Documents. The Mortgage Note, the Mortgage,
the Assignment of Mortgage and any other documents required to be delivered by
the Seller under this Agreement have been delivered to the Purchaser or its
designee. The Seller is in possession of a complete, true and accurate
Mortgage File, except for such documents the originals of which have been
delivered to the Purchaser or its designee;

          (aa) Due on Sale. The Mortgage contains a provision for the
acceleration of the payment of the unpaid principal balance of the Mortgage
Loan in the event that the Mortgaged Property is sold or transferred without
the prior written consent of the Mortgagee thereunder;

          (bb) Transfer of Mortgage Loans. The Assignment of Mortgage upon the
insertion of the name of the assignee and recording information is in
recordable form and is acceptable for recording under the laws of the
jurisdiction in which the Mortgaged Property is located;

          (cc) No Buydown Provisions; No Graduated Payments or Contingent
Interests. The Mortgage Loan does not contain provisions pursuant to which
Monthly Payments are paid or partially paid with funds deposited in any
separate account established by the Seller, the Mortgagor or anyone on behalf
of the Mortgagor, or paid by any source other than the Mortgagor nor does it
contain any other similar provisions currently in effect 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;

          (dd) Consolidation of Future Advances. Any future advances made
prior to the related Cut-off Date have been consolidated with the outstanding
principal amount secured by the Mortgage, and the secured principal amount, as
consolidated, bears a single interest rate and single repayment term. The lien
of the Mortgage securing the consolidated principal amount is expressly
insured as having first lien priority by a title insurance policy, an
endorsement to the policy insuring the mortgagee's consolidated interest or by
other title evidence acceptable to Fannie Mae and Freddie Mac. The
consolidated principal amount does not exceed the original principal amount of
the Mortgage Loan;

          (ee) Mortgaged Property Undamaged. To the best of the Seller's
knowledge, there is no proceeding pending or threatened for the total or
partial condemnation of the Mortgaged Property. The Mortgaged Property is
undamaged by waste, fire, earthquake or earth movement, windstorm, flood,
tornado or other casualty so as to have a material adverse effect on the value
of the Mortgaged Property as security for the Mortgage Loan or the use for
which the premises were intended;

                                     II-6
<PAGE>

          (ff) Collection Practices; Escrow Deposits. The origination and
collection practices used with respect to the Mortgage Loan have been in all
respects in compliance with all applicable laws and regulations and in all
material respects proper and prudent in the mortgage origination and servicing
business. With respect to escrow deposits and Escrow Payments, all such
payments are in the possession of the Seller and there exist no deficiencies
in connection therewith for which customary arrangements for repayment thereof
have not been made. All Escrow Payments have been collected in full compliance
with state and federal law. No escrow deposits or Escrow Payments or other
charges or payments due the Seller have been capitalized under the Mortgage or
the Mortgage Note. All Mortgage Interest Rate adjustments have been made in
strict compliance with state and federal law and the terms of the related
Mortgage Note. Any interest required to be paid pursuant to state and local
law has been properly paid and credited;

          (gg) Appraisal. The Mortgage File contains an appraisal of the
related Mortgage Property signed prior to the approval of the Mortgage Loan
application by a qualified appraiser, duly appointed by the originator of the
Mortgage Loan, who had no interest, direct or indirect in the Mortgaged
Property or in any loan made on the security thereof, and whose compensation
is not affected by the approval or disapproval of the Mortgage Loan;

          (hh) Relief Act. The Mortgagor has not notified the Seller, and the
Seller has no knowledge of any relief requested or allowed to the Mortgagor
under the Servicemembers Civil Relief Act, as amended;

          (ii) Environmental Matters. The Seller has no knowledge of any toxic
or hazardous substances affecting the Mortgaged Property or any violation of
any local, state, or federal environmental law, rule, or regulation. The
Seller has no knowledge of any pending action or proceeding directly involving
any Mortgaged Property in which compliance with any environmental law, rule,
or regulation is an issue;

          (jj) No Construction Loans. No Mortgage Loan was made in connection
with (i) the construction or rehabilitation of a Mortgaged Property or (ii)
facilitating the trade-in or exchange of a Mortgaged Property;

          (kk) Insurance. The Seller has caused or will cause to be performed
any and all acts required to preserve the rights and remedies of the Purchaser
in any insurance policies applicable to the Mortgage Loans including, without
limitation, any necessary notifications of insurers, assignments of policies
or interests therein, and establishments of coinsured, joint loss payee and
mortgagee rights in favor of the Purchaser; No action, inaction, or event has
occurred and no state of fact exists or has existed that has resulted or will
result in the exclusion from, denial of, or defense to coverage under any
applicable pool insurance policy, special hazard insurance policy, PMI Policy
or bankruptcy bond, irrespective of the cause of such failure of coverage
arising out of any action, representation, errors, omissions or fraud of the
Seller or, to the Seller's knowledge that could reasonably lead the Seller to
believe that any such defense exists arising out of the actions,
representations, errors, omissions, negligence or fraud of the related
Mortgagor or any party involved in the application for such coverage;

          (ll) Regarding the Mortgagor. The Mortgagor is one or more natural
persons;

                                     II-7
<PAGE>

          (mm) Mortgagor Acknowledgment. The Mortgagor has received all
disclosure materials required by applicable law with respect to the making of
adjustable rate mortgage loans;

          (nn) Simple Interest Mortgage Loans. None of the Mortgage Loans are
simple interest Mortgage Loans;

          (oo) Single Premium Credit Life Insurance. None of the proceeds of
the Mortgage Loan were used to finance single-premium credit life insurance
policies;

          (pp) Recordation. Each original Mortgage was recorded and, except
for those Mortgage Loans subject to the MERS identification system, all
subsequent assignments of the original Mortgage (other than the assignment to
the Purchaser) have been recorded in the appropriate jurisdictions wherein
such recordation is necessary to perfect the lien thereof as against creditors
of the Seller, or is in the process of being recorded;

          (qq) Prepayment Fee. With respect to each Mortgage Loan that has a
prepayment fee feature, each such prepayment fee is enforceable and will be
enforced by the Seller, and each prepayment penalty in permitted pursuant to
federal, state and local law. No Mortgage Loan will impose a prepayment
penalty for a term in excess of five years from the date such Mortgage Loan
was originated;

          (rr) Origination. No error, omission, misrepresentation, negligence,
fraud or similar occurrence with respect to a 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 having statutory or
common law liabilities with respect to in the origination of the Mortgage Loan
or, in the application of any insurance in relation to such Mortgage Loan;

          (ss) Credit Reporting. The Seller has fully furnished in accordance
with the Fair Credit Reporting Act and its implementing regulations, accurate
and complete information on the Mortgagor credit files to Equifax, Experian
and Trans Union Credit Information Company on a monthly basis;

          (tt) High Cost Loans. Each Mortgage Loan is not a loan (A) subject
to 12 CFR Part 226.31, 12 CFR Part 226.32 or 12 CFR Part 226.34 of Regulation
Z, the regulation implementing TILA, which implements the Home Ownership and
Equity Protection Act of 1994, as amended, (B)(w) a "High-Cost Home Loan" as
defined in the New Jersey Home Ownership Act effective November 27, 2003, (x)
a "High-Cost Home Loan" as defined in the New Mexico Home Loan Protection Act
effective January 1, 2004, (y) a "High Cost Loan" or "Covered Loan" (as such
terms are defined in the current S&P's LEVELS(R) Glossary), or (z) governed by
the Georgia Fair Lending Act, if such Mortgage Loan was originated on or after
October 1, 2002 through March 6, 2003 or (C) classified and/or defined as a
"high cost" loan or "predatory," "high cost," "threshold" or "covered" lending
under any other state, federal or local law. The Mortgage Loan at the time it
was made otherwise complied in all material respects with any and all
requirements of any federal, state or local law including, but not limited to,
all predatory lending laws, usury, truth in lending, real estate settlement
procedures (including the Real Estate

                                     II-8
<PAGE>

Settlement Procedures Act of 1974, as amended), consumer credit protection,
equal credit opportunity or disclosure laws applicable to such Mortgage Loan;

          (uu) Illinois Interest Act. No Transferred Mortgage Loan that is
secured by property located in Illinois is in violation of the provisions of
the Illinois Interest Act (815 Ill. Comp. Stat. 205/1 et seq.); and

          (vv) Freddie Mac Required Representations. In addition to the
foregoing representations and warranties made in subparagraphs (a) through
(uu) above, the Company further represents and warrants upon delivery of the
Mortgage Loans, as to each Pool 2 Mortgage Loan or Mortgage Loan, as the case
may be, that:

               (i) No borrower obtained a prepaid single premium credit
          life, credit disability, credit unemployment or credit property
          insurance policy from or through the Seller or any Affiliate in
          connection with the origination of any Pool 2 Mortgage Loan;

               (ii) The outstanding Scheduled Principal Balance of each
          Pool 2 Mortgage Loan does not exceed the applicable maximum original
          loan amount limitations with respect to first lien one- to
          four-family residential mortgage loans as set forth in the Freddie
          Mac Selling Guide;

               (iii) With respect to each Mortgage Loan that has a
          Prepayment Charge, no such Prepayment Charge may be imposed for a
          term in excess of three (3) years with respect to Mortgage Loans
          originated on or after October 1, 2002; and

               (iv) No Pool 2 Mortgage Loan originated on or after August
          1, 2004, requires the related Mortgagor to submit to arbitration to
          resolve any dispute arising out of or relating in any way to the
          Mortgage Loan transaction.

               (v) Each Mortgage Loan is a "qualified mortgage" under
          Section 860G(a)(3) of the Code.

               (vi) The servicer for each Mortgage Loan has fully
          furnished, in accordance with the Fair Credit Reporting Act and its
          implementing regulations, accurate and complete information (i.e.,
          favorable and unfavorable) on its borrower credit files to Equifax
          Credit Information Services, Inc., Trans Union, LLC and Experian
          Information Solution, Inc., on a monthly basis.]

                                     II-9
<PAGE>

                           EXHIBIT A TO SCHEDULE II

                            Underwriting Guidelines

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