Document:

Q1 2003 Exhibit 10.3

                                                              Exhibit 10.3

 

DLJ MORTGAGE CAPITAL, INC.

Purchaser,

e-loan, inc.

Seller and Servicer

SELLER'S PURCHASE, WARRANTIES AND INTERIM SERVICING
AGREEMENT

Dated as of April 1, 2003

TABLE OF CONTENTS

Page

ARTICLE I DEFINITIONS
Section 1.01Defined Terms.*

ARTICLE II SERVICING OF MORTGAGE LOANS; RECORD TITLE AND
POSSESSION OF MORTGAGE FILES; BOOKS AND RECORDS; CUSTODIAL AGREEMENT; DELIVERY
OF MORTGAGE LOAN DOCUMENTS
Section 2.01Agreement to Purchase.*

Section 2.02Purchase Price.*

Section 2.03Servicing of Mortgage Loans.*

Section 2.04Record Title and Possession of Mortgage Files; Maintenance of
Servicing Files.*

Section 2.05Books and Records.*

Section 2.06Transfer of Mortgage Loans.*

Section 2.07Delivery of Mortgage Loan Documents.*

Section 2.08Quality Control Procedures.*

Section 2.09Closing.*

ARTICLE III REPRESENTATIONS AND WARRANTIES OF THE SELLER AND
THE SERVICER; REPURCHASE; REVIEW OF MORTGAGE LOANS
Section 3.01Representations and Warranties of the Seller and the
Servicer.*

Section 3.02Representations and Warranties as to Individual Mortgage
Loans.*

Section 3.03Repurchase; Substitution.*

Section 3.04Repurchase of Convertible Mortgage Loans.*

Section 3.05Repurchase of Mortgage Loans With Early Payment
Defaults.*

Section 3.06Purchase Price Protection.*

ARTICLE IV ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS
DURING THE INTERIM SERVICING PERIOD
Section 4.01The Servicer to Act as Servicer.*

Section 4.02Collection of Mortgage Loan Payments.*

Section 4.03Realization Upon Defaulted Mortgage Loans.*

Section 4.04Establishment of Custodial Accounts; Deposits in Custodial
Accounts.*

Section 4.05Permitted Withdrawals From the Custodial Account.*

Section 4.06Establishment of Escrow Accounts; Deposits in Accounts.*

Section 4.07Permitted Withdrawals From the Escrow Account.*

Section 4.08Payment of Taxes, Insurance and Charges; Maintenance of
Primary Mortgage Insurance or LPMI Policies; Collections Thereunder.*

Section 4.09Transfer of Accounts.*

Section 4.10Maintenance of Hazard Insurance.*

Section 4.11Maintenance of Mortgage Impairment Insurance Policy.*

Section 4.12Maintenance of Fidelity Bond and Errors and Omissions
Insurance.*

Section 4.13Title, Management and Disposition of REO Property.*

Section 4.14Notification of Maturity Date.*

ARTICLE V PAYMENTS TO THE PURCHASER
Section 5.01Distributions.*

Section 5.02Statements to the Purchaser.*

Section 5.03Monthly Advances by the Servicer.*

Section 5.04Liquidation Reports.*

ARTICLE VI GENERAL SERVICING PROCEDURES
Section 6.01Assumption Agreements.*

Section 6.02Satisfaction of Mortgages and Release of Mortgage
Files.*

Section 6.03Servicing Compensation.*

Section 6.04Annual Statement as to Compliance.*

Section 6.05Annual Independent Certified Public Accountants' Servicing
Report.*

Section 6.06Purchaser's Right to Examine Servicer Records.*

Section 6.07Servicer Shall Provide Information as Reasonably
Required.*

ARTICLE VII SERVICING TRANSFER
Section 7.01Transfer.*

Section 7.02Additional Obligations.*

ARTICLE VIII THE SELLER AND THE SERVICER
Section 8.01Indemnification; Third Party Claims.*

Section 8.02Merger or Consolidation of the Seller or the Servicer.*

Section 8.03Limitation on Liability of the Seller and Others.*

Section 8.04Servicer Not to Resign.*

Section 8.05No Transfer of Servicing.*

ARTICLE IX DEFAULT
Section 9.01Events of Default.*

Section 9.02Waiver of Defaults.*

ARTICLE X TERMINATION
Section 10.01Termination.*

Section 10.02Termination Without Cause.*

ARTICLE XI RECONSTITUTION OF MORTGAGE LOANS
Section 11.01Reconstitution of Mortgage Loans.*

ARTICLE XII MISCELLANEOUS PROVISIONS
Section 12.01Successor to the Servicer.*

Section 12.02Amendment.*

Section 12.03Recordation of Agreement.*

Section 12.04Governing Law.*

Section 12.05Notices.*

Section 12.06Severability of Provisions.*

Section 12.07Exhibits.*

Section 12.08General Interpretive Principles.*

Section 12.09Reproduction of Documents.*

Section 12.10Confidentiality of Information.*

Section 12.11Recordation of Assignments of Mortgage.*

Section 12.12Assignment by Purchaser.*

Section 12.13No Partnership.*

Section 12.14Execution; Successors and Assigns.*

Section 12.15Entire Agreement.*

Section 12.16No Solicitation.*

    Section 12.17  Costs...............................73
EXHIBITS*

A-1Contents of Mortgage File

A-2Contents of Servicing File

BForm of Custodial Account Letter Agreement

CForm of Escrow Account Letter Agreement

DForm of Assignment, Assumption and Recognition Agreement

EForm of Monthly Servicing Report

FMortgage Loan Schedule

GRequest for Release of Documents and Receipt

HServicing Transfer Procedures

 

 

 

 

 

 

 

 

 

 

 

* Exhibits and schedules have been omitted in accordance with Item 601 of
Regulation S-K, and will be provided upon request.

This is a Seller's Purchase, Warranties and Interim Servicing Agreement,
dated as April 1, 2003 and is executed between DLJ Mortgage Capital, Inc., as
purchaser (the "Purchaser"), and E-LOAN, Inc., as seller (in
such capacity, the "Seller") and as servicer (in such capacity,
the "Servicer").

W I T N E S S
E T H :

WHEREAS, the Purchaser has heretofore agreed to purchase from the Seller and
the Seller has heretofore agreed to sell to the Purchaser certain Mortgage
Loans, together with the servicing rights associated with such Mortgage Loans,
from time to time, pursuant to the terms of a letter agreement by and between
the Seller and the Purchaser (the "Purchase Price and Terms
Letter").

WHEREAS, each of the Mortgage Loans is secured by a mortgage, deed of trust
or other security instrument creating a first or second lien on a residential
dwelling located in the jurisdiction indicated on the Mortgage Loan Schedule,
which is annexed hereto as Exhibit F. The Mortgage Loans as described
herein shall be delivered in groups of whole loans (each, a "Mortgage
Loan Package") on various dates as provided herein (each, a
"Closing Date"); and

WHEREAS, the Purchaser, the Seller and the Servicer wish to prescribe the
representations and warranties of the Seller with respect to itself and the
Mortgage Loans and the management, interim servicing, transfer and control of
the Mortgage Loans by the Servicer;

NOW, THEREFORE, in consideration of the mutual agreements hereinafter set
forth, and for other good and valuable consideration, the receipt and adequacy
of which is hereby acknowledged, the Purchaser, the Seller and the Servicer
agree as follows:

ARTICLE I

DEFINITIONS

	Defined Terms.

Whenever used in this Agreement, the following words and phrases, unless the
context otherwise requires, shall have the following meaning specified in this
Article:

Accepted Servicing Practices:  With respect to any Mortgage Loan,
those mortgage servicing practices (including collection procedures) of prudent
mortgage banking institutions which service mortgage loans of the same type as
such Mortgage Loan in the jurisdiction where the related Mortgaged Property is
located, and which are in accordance with Fannie Mae or Freddie Mac servicing
practices and procedures, for MBS pool mortgages, as defined in the Fannie Mae
Guides or Freddie Mac Guides including future updates. 

Adjustable Rate Mortgage Loan:  An Adjustable Rate Mortgage Loan
purchased pursuant to this Agreement.

Adjustment Date:  With respect to each Adjustable Rate Mortgage Loan,
the date set forth in the related Mortgage Note on which the Mortgage Interest
Rate on the Mortgage Loan is adjusted in accordance with the terms of the
Mortgage Note.

Agreement:  This Seller's Purchase, Warranties and Interim Servicing
Agreement including all exhibits hereto, amendments hereof and supplements
hereto.

Appraised Value: With respect to any Mortgaged Property, the lesser of
(i) the value thereof as determined by an appraisal made for the originator of
the Mortgage Loan at the time of origination of the Mortgage Loan by an
appraiser who met the underwriting requirements of the originator, and (ii) the
purchase price paid for the related Mortgaged Property by the Mortgagor with the
proceeds of the Mortgage Loan, provided, however, in the case of a Refinanced
Mortgage Loan, such value of the Mortgaged Property is based solely upon the
value determined by an appraisal made for the originator of such Refinanced
Mortgage Loan at the time of origination of such Refinanced Mortgage Loan by an
appraiser who met the underwriting requirements of the originator.

Assignment:  An assignment of the Mortgage, notice of transfer or
equivalent instrument in recordable form, sufficient under the laws of the
jurisdiction wherein the related Mortgaged Property is located to reflect the
transfer of the Mortgage.

BIF:  The Bank Insurance Fund, or any successor thereto.

Business Day:  Any day other than (i) a Saturday or a Sunday, or (ii)
a legal holiday in the State of New York, or (iii) a day on which banks in the
State of New York are authorized or obligated by law or executive order to be
closed.

Closing Date:  The date or dates set forth in the related Purchase
Price and Terms Letter on which the Purchaser from time to time shall purchase
and the Seller from time to time shall sell to the Purchaser, the Mortgage Loans
listed on the related Mortgage Loan Schedule with respect to the related
Mortgage Loan Package.

Code:  The Internal Revenue Code of 1986, as the same may be amended
from time to time (or any successor statute thereto).

Condemnation Proceeds:  All awards or settlements in respect of a
Mortgaged Property, whether permanent or temporary, partial or entire, by
exercise of the power of eminent domain or condemnation, to the extent not
required to be released to a Mortgagor in accordance with the terms of the
related Mortgage Loan Documents.

Convertible Mortgage Loan:  Any Adjustable Rate Mortgage Loan
purchased pursuant to this Agreement as to which the related Mortgage Note
permits the Mortgagor to convert the Mortgage Interest Rate on such Mortgage
Loan to a fixed Mortgage Interest Rate.

Co-op Lease:  With respect to a Co-op Loan, the lease with respect to
a dwelling unit occupied by the Mortgagor and relating to the stock allocated to
the related dwelling unit.

Co-op Loan:  A Mortgage Loan secured by the pledge of stock allocated
to a dwelling unit in a residential cooperative housing corporation and a
collateral assignment of the related Co-op Lease.

Co-op Stock:  With respect to a Co-op Loan, the single outstanding
class of stock, partnership interest or other ownership instrument in the
related residential cooperative housing corporation.

Credit Score: The credit score for each Mortgage Loan shall be
the minimum of two credit bureau scores obtained at origination or such other
time by the Seller.  If two credit bureau scores are obtained, the Credit Score
will be the lower score.  If three credit bureau scores are obtained, the Credit
Score will be the middle of the three.  When there is more than one applicant,
the lowest of the applicants' Credit Scores will be used.  There is only one (1)
score for any loan regardless of the number of borrowers and/or applicants.

Custodial Account:  Each separate demand account or accounts created
and maintained pursuant to Section 4.04 which shall be entitled
"__________________________, in trust for the [Purchaser], Owner of Whole
Loan Series 2003 WL-______" and shall be established as an Eligible
Account, in the name of the Person that is the "Purchaser" with
respect to the related Mortgage Loans.

Cut-off Date: With respect to each Mortgage Loan Package, the date on
or prior to the related Closing Date set forth in the related Purchase Price and
Terms Letter.

Determination Date: The 15th day (or if such
15th day is not a Business Day, the Business Day immediately
preceding such 15th day) of the month of the related Remittance
Date.

Due Date:  The day of the month on which the Monthly Payment is due on
a Mortgage Loan, exclusive of any days of grace.

Due Period:  With respect to any Remittance Date, the period
commencing on the second day of the month preceding the month of such Remittance
Date and ending on the first day of the month of the Remittance Date.

Eligible Account: An account established and maintained: (a) within
FDIC insured accounts (or other accounts with comparable insurance coverage
acceptable to the Rating Agencies) created, maintained and monitored by the
Servicer so that all funds deposited therein are fully insured, (b) with the
corporate trust department of a financial institution assigned a long-term debt
rating of not less than Baa3, and a short term debt rating of P3, from Moody's
Investors Services, Inc. and, if ownership of the Mortgage Loans is evidenced by
mortgaged backed securities, the equivalent ratings of the rating agencies, and
held such that the rights of the Purchaser and the owner of the Mortgage Loans
shall be fully protected against the claims of any creditors of the Seller and
of any creditors or depositors of the institution in which such account is
maintained or (c) in a separate non-trust account without FDIC or other
insurance in an eligible Institution.  In the event that a Custodial Account is
established pursuant to clause (b) or (c) of the preceding sentence, the
Servicer shall provide the Purchaser with written notice on the Business Day
following the date on which the applicable institution fails to meet the
applicable ratings requirements.

Eligible Institution:  An institution having (i) the highest short-
term debt rating, and one of the two highest long-term debt ratings of the
Rating Agency; or (ii) with respect to any Custodial Account, an unsecured long-
term debt rating of at least one of the two highest unsecured long-term debt
ratings of the Rating Agencies.

Equity:  With respect to any second lien Mortgage Loan, the Appraised
Value, less the unpaid principal balance of the related First Lien.

Equity Loan-to-Value:  With respect to any second lien Mortgage Loan,
the original principal balance of such Mortgage Loan, divided by the Equity.

Escrow Account:  Each separate trust account or accounts created and
maintained pursuant to Section 4.06 which shall be entitled
"______________________, in trust for the [Purchaser], Owner of Whole Loan
Series 2003- WL-______, and various Mortgagors" and shall be established as
an Eligible Account, in the name of the Person that is the "Purchaser"
with respect to the related Mortgage Loans.

Escrow Payments:  With respect to any Mortgage Loan, the amounts
constituting ground rents, taxes, assessments, water rates, sewer rents,
municipal charges, mortgage insurance premiums, fire and hazard insurance
premiums, condominium charges, and any other payments required to be escrowed by
the Mortgagor with the mortgagee pursuant to the Mortgage, applicable law or any
other related document.

Event of Default:  Any one of the conditions or circumstances
enumerated in Section 9.01.

Fannie Mae:  The entity formerly known as the Federal National
Mortgage Association, or any successor thereto.

Fannie Mae Guides:  The Fannie Mae Sellers' Guide and the Fannie Mae
Servicers' Guide and all amendments or additions thereto, including, but not
limited to, future updates thereof.

FDIC:  The Federal Deposit Insurance Corporation, or any successor
thereto.

Fidelity Bond:  A fidelity bond to be maintained by the Servicer
pursuant to Section 4.12.

FIRREA:  The Financial Institutions Reform, Recovery, and Enforcement
Act of 1989.

First Lien:  With respect to any second lien Mortgage Loan, the
mortgage loan relating to the corresponding Mortgaged Property having a first
priority lien.

First Remittance Date: The eighteenth (18th) day of the
month following each respective Closing Date, or if such day is not a Business
Day, the first Business Day immediately preceding such date.

Fixed Rate Mortgage Loan:  A Mortgage Loan purchased pursuant to this
Agreement which bears a fixed Mortgage Interest Rate during the life of the
loan.

Freddie Mac:  The entity formerly known as the Federal Home Loan
Mortgage Corporation, or any successor thereto.

Freddie Mac Guides:  The Freddie Mac Sellers' Guide and the Freddie
Mac Servicers' Guide and all amendments or additions thereto, including, but not
limited to, any future updates thereof.

GAAP:  Generally accepted accounting procedures, consistently
applied.

Gross Margin:  With respect to any Adjustable Rate Mortgage Loan, the
fixed percentage amount set forth in the related Mortgage Note and the related
Mortgage Loan Schedule that is added to the Index on each Adjustment Date in
accordance with the terms of the related Mortgage Note to determine the new
Mortgage Interest Rate for such Mortgage Loan.

HUD:  The United States Department of Housing and Urban Development or
any successor thereto.

Index:  With respect to any Adjustable Rate Mortgage Loan, the index
identified on the Mortgage Loan Schedule and set forth in the related Mortgage
Note for the purpose of calculating the Mortgage Interest Rate thereon.

Insurance Proceeds:  With respect to each Mortgage Loan, proceeds of
insurance policies insuring the Mortgage Loan or the related Mortgaged
Property.

Interim Servicing Fee:  As to each Mortgage Loan Package, the amount
of the fee the Purchaser shall pay to the Servicer for servicing the related
Mortgage Loans in accordance with the terms of this Agreement during the Interim
Servicing Period, which shall be equal to seven dollars ($7) per Mortgage Loan
per month. Such fee shall be payable monthly (a pro rata Interim Servicing Fee
shall be paid for any partial month within the Interim Servicing Period).

Interim Servicing Period:  As to each Mortgage Loan Package, the
period of time from and including the Closing Date to the Servicing Transfer
Date. 

Lender Paid Mortgage Insurance Policy Program or LPMI Policies:
A program or policy in which, for any Mortgage Loan underwritten with an LTV
greater than 80.00% and less than 97.00%, the owner or servicer of such Mortgage
Loan is responsible for the premiums associated with the mortgage insurance
policy.

Liquidation Proceeds:  Amounts received in connection with the partial
or complete liquidation of a defaulted Mortgage Loan, whether through the sale
or assignment of such Mortgage Loan, trustee's sale, foreclosure sale or
otherwise.

Loan-to-Value Ratio or LTV:  With respect to any Mortgage Loan,
the ratio of the original outstanding principal amount of the Mortgage Loan and,
with respect to any second lien Mortgage Loan, the outstanding principal amount
of any related First Lien as of the date of origination of such mortgage loan,
to (i) the Appraised Value of the related Mortgaged Property at origination with
respect to a Refinanced Mortgage Loan, and (ii) the lesser of the Appraised
Value of the related Mortgaged Property at origination or the purchase price of
the related Mortgaged Property with respect to all other Mortgage Loans.

Maximum Mortgage Interest Rate:  With respect to each Adjustable Rate
Mortgage Loan, a rate that is set forth on the related Mortgage Loan Schedule
and in the related Mortgage Note and is the maximum interest rate to which the
Mortgage Interest Rate on such Mortgage Loan may be increased.

MERS:  Mortgage Electronic Registration Systems, Inc., a corporation
organized and existing under the laws of the State of Delaware, or any successor
thereto.

MERS Mortgage Loan:  Any Mortgage Loan registered with MERS on the
MERS System.

MERS System:  The system of recording transfers of mortgages
electronically maintained by MERS.

MIN:  The Mortgage Identification Number for any MERS Mortgage
Loan.

Minimum Mortgage Interest Rate:  With respect to each Adjustable Rate
Mortgage Loan, a rate that is set forth on the related Mortgage Loan Schedule
and in the related Mortgage Note and is the minimum interest rate to which the
Mortgage Interest Rate on such Mortgage Loan may be decreased.

MOM Loan:  Any Mortgage Loan as to which MERS is acting as mortgagee,
solely as nominee for the originator of such Mortgage Loan and its successors
and assigns.

Monthly Advance:  The payment required to be made by the Servicer with
respect to any Remittance Date pursuant to Section 5.03.

Monthly Payment:  The scheduled monthly payment on a Mortgage Loan due
on any Due Date allocable to principal and/or interest on such Mortgage Loan
pursuant to the terms of the related Mortgage Note.

Mortgage:  With respect to a Mortgage Loan that is not a Co-op Loan,
the mortgage, deed of trust or other instrument securing a Mortgage Note which
creates a first or second lien on an unsubordinated estate in fee simple in real
property securing the Mortgage Note; except that with respect to real property
located in jurisdictions in which the use of leasehold estates for residential
properties is a widely-accepted practice, the mortgage, deed of trust or other
instrument securing the Mortgage Note may secure and create a first or second
lien upon a leasehold estate of the Mortgagor.  With respect to a Co-op Loan,
the related Security Agreement.

Mortgage File:  With respect to each Mortgage Loan, the documents
pertaining thereto specified in Exhibit A-1 and any additional documents
required to be added to the Mortgage File pursuant to this Agreement.

Mortgage Interest Rate:  The annual rate at which interest accrues on
any Mortgage Loan in accordance with the provisions of the related Mortgage
Note.

Mortgage Loan:  An individual Mortgage Loan which is the subject of
this Agreement, each Mortgage Loan originally sold and subject to this Agreement
being identified on the Mortgage Loan Schedule, which Mortgage Loan includes
without limitation the Mortgage File, the Monthly Payments, Principal
Prepayments, Liquidation Proceeds, Condemnation Proceeds, Insurance Proceeds,
REO Disposition Proceeds, any escrow accounts related to the Mortgage Loan, and
all other rights, benefits, proceeds and obligations arising from or in
connection with such Mortgage Loan, excluding replaced or repurchased mortgage
loans.

Mortgage Loan Documents:  The documents contained in a Mortgage
File.

Mortgage Loan Package: As defined in the Recitals to this
Agreement.

Mortgage Loan Remittance Rate:  With respect to each Mortgage Loan,
the Mortgage Interest Rate less the rate at which the premium for any LPMI
Policy accrues, if applicable.

Mortgage Loan Schedule:  The schedule of Mortgage Loans annexed hereto
as Exhibit F, such schedule setting forth the following information with
respect to each Mortgage Loan in the related Mortgage Loan Package:

(1)the Seller's Mortgage Loan identifying number;

(2)the Mortgagor's name;

(3)the street address of the Mortgaged Property including the state and
zip code;

(4)a code indicating whether the Mortgaged Property is owner-
occupied;

(5)the type of residential property constituting the Mortgaged
Property;

(6)the original months to maturity or the remaining months to maturity
from the Cut-off Date, in any case based on the original amortization schedule
and, if different, the maturity expressed in the same manner but based on the
actual amortization schedule;

(7)the Loan-to-Value Ratio at origination and as of the Cut-off Date;

(8)with respect to any second lien Mortgage Loan, the Equity Loan-to-
Value Ratio at origination and as of the Cut-off Date;

(9)the Mortgage Interest Rate at origination and as of the Cut-off
Date;

(10)the Mortgage Loan origination date;

(11)the paid through date;

(12)the stated maturity date of the Mortgage Loan and of the First Lien,
if applicable;

(13)the amount of the Monthly Payment as of the Cut-off Date;

(14)the original principal amount of the Mortgage Loan and the principal
balance of the related First Lien, if applicable, as of the date of origination;

(15)the Scheduled Principal Balance of the Mortgage Loan and the
principal balance of the related First Lien, if applicable, as of the Cut-off
Date;

(16)a code indicating the purpose of the Mortgage Loan (i.e., purchase,
rate and term refinance, equity take-out refinance); 

(17)a code indicating the documentation style (i.e. full, alternative or
reduced);  

(18)the number of times during the twelve (12) month period preceding the
Closing Date that any Monthly Payment has been received thirty (30) or more days
after its Due Date;

(19)the date on which the first payment is due; 

(20)a code indicating whether or not the Mortgage Loan is insured as to
payment defaults by a Primary Mortgage Insurance Policy; and, in the case of any
Mortgage Loan which is insured as to payment defaults by a Primary Mortgage
Insurance Policy, the name of the provider of such Primary Mortgage Insurance
Policy;

(21)a code indicating whether or not the Mortgage Loan is insured as to
payment defaults by a LPMI Policy and, in the case of any Mortgage Loan which is
insured as to payment defaults by a LPMI Policy, a percentage representing the
amount of the related insurance premium;

(22)a code indicating whether or not the Mortgage Loan is the subject of
a Prepayment Penalty as well as the terms of the Prepayment Penalty;

(23)the Primary Mortgage Insurance Policy certificate number, if
applicable;

(24)the Primary Mortgage Insurance Policy coverage percentage, if
applicable;

(25)a code indicating the Credit Score of the Mortgagor at the time of
origination of the Mortgage Loan; 

(26)a code indicating the credit grade and specific loan/underwriting
program of each Mortgage Loan as assigned by the Seller pursuant to the
Underwriting Standards;

(27)the loan type (i.e.  fixed, adjustable; 2/28, 3/27, 5/25, etc.);

(28)with respect to each Adjustable Rate Mortgage Loan, the first
Adjustment Date and the Adjustment Date frequency; 

(29)with respect to each Adjustable Rate Mortgage Loan, the Gross
Margin;

(30)with respect to each Adjustable Rate Mortgage Loan, the Maximum
Mortgage Interest Rate under the terms of the Mortgage Note; 

(31)with respect to each Adjustable Rate Mortgage Loan, the Minimum
Mortgage Interest Rate under the terms of the Mortgage Note; 

(32)with respect to each Adjustable Rate Mortgage Loan, the Periodic Rate
Cap;

(33)with respect to each Adjustable Rate Mortgage Loan, the first
Adjustment Date immediately following the related Cut-off Date; 

(34) with respect to each Adjustable Rate Mortgage Loan, the Index;

(35)a code indicating whether the Mortgage Loan is a second lien Mortgage
Loan; and

(36)a code indicating whether the Mortgage Loan is a MERS Mortgage
Loan.

With respect to the Mortgage Loans in the aggregate in each Mortgage Loan
Package, the Mortgage Loan Schedule shall set forth the following information,
as of the Cut-off Date unless otherwise specified:

(1)the number of Mortgage Loans;

(2)the current aggregate outstanding principal balance of the Mortgage
Loans;

(3)the weighted average Mortgage Interest Rate of the Mortgage Loans;

(4)the weighted average original months to maturity of the Mortgage Loans
and the weighted average remaining months to maturity of the Mortgage Loans.

Mortgage Note:  The note or other evidence of the indebtedness of a
Mortgagor secured by a Mortgage.

Mortgaged Property:  With respect to a Mortgage Loan that is not a Co-
op Loan, the underlying real property securing repayment of a Mortgage Note,
consisting of a fee simple parcel of real estate or a leasehold estate, the term
of which is equal to or longer than the term of the related Mortgage Note.  With
respect to a Co-op Loan, the related Co-op Stock and Co-op Lease securing the
indebtedness of the Mortgagor under the related Mortgage Loan.

Mortgagor:  The obligor on a Mortgage Note.

OCC:  Office of the Comptroller of the Currency, its successors and
assigns.

Officers' Certificate:  A certificate signed by the Chairman of the
Board, the Vice Chairman of the Board, the President, a Senior Vice President or
a Vice President and by the Treasurer or the Secretary or one of the Assistant
Treasurers or Assistant Secretaries of the Seller, and delivered to the
Purchaser as required by this Agreement.

Opinion of Counsel:  A written opinion of counsel, who may be an
employee of the party on behalf of whom the opinion is being given, reasonably
acceptable to the Purchaser.

OTS:  Office of Thrift Supervision.

Pass-Through Transfer:  As defined in Section 11.01(a)(ii).

Periodic Rate Cap:  With respect to each Adjustable Rate Mortgage Loan
and any Adjustment Date therefor, a number of percentage points per annum that
is set forth in the related Mortgage Loan Schedule and in the related Mortgage
Note, which is the maximum amount by which the Mortgage Interest Rate for such
Mortgage Loan may increase (without regard to the Maximum Mortgage Interest
Rate) or decrease (without regard to the Minimum Mortgage Interest Rate) on such
Adjustment Date from the Mortgage Interest Rate in effect immediately prior to
such Adjustment Date, which may be a different amount with respect to the first
Adjustment Date.

Person:  Any individual, corporation, partnership, joint venture,
association, limited liability company, joint-stock company, trust,
unincorporated organization or government or any agency or political subdivision
thereof.

Prepayment Penalty:  With respect to each Mortgage Loan, the penalty
if the Mortgagor prepays such Mortgage Loan as provided in the related Mortgage
Note or Mortgage.

Primary Mortgage Insurance Policy:  Each policy of primary mortgage
insurance represented to be in effect pursuant to Section 3.02(cc), or any
replacement policy therefor obtained by the Servicer pursuant to Section
4.08.

Prime Rate:  The prime rate announced to be in effect from time to
time as published as the average rate in The Wall Street Journal (Northeast
Edition).

Principal Prepayment:  Any full or partial payment or other recovery
of principal on a Mortgage Loan which is received in advance of its scheduled
Due Date, including any Prepayment Penalty or premium thereon and which is not
accompanied by an amount of interest representing scheduled interest due on any
date or dates in any month or months subsequent to the month of prepayment.

Purchase Price: As defined in Section 2.02.

Purchase Price and Terms Letter: As defined in the Recitals to this
Agreement which may also be a form of trade execution notice. 

Purchaser: DLJ Mortgage Capital, Inc., its successors in interest and
assigns.

Qualified Appraiser:  With respect to each Mortgage Loan, an
appraiser, duly appointed by the Seller, 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, and such appraiser and the appraisal made by such appraiser both satisfy
the requirements of Fannie Mae or Freddie Mac and Title XI of FIRREA and the
regulations promulgated thereunder, all as in effect on the date the Mortgage
Loan was originated.

Qualified Insurer:  An insurance company duly qualified as such under
the laws of the states in which the Mortgaged Properties are located, duly
authorized and licensed in such states to transact the applicable insurance
business and to write the insurance provided by the insurance policy issued by
it, approved as an insurer by Fannie Mae and Freddie Mac. 

Rating Agencies: Standard & Poor's Ratings Services, a division of
The McGraw-Hill Companies, Inc., Moody's Investors Service, Inc. or, in the
event that some or all ownership of the Mortgage Loans is evidenced by mortgage-
backed securities, the nationally recognized rating agencies issuing ratings
with respect to such securities, if any.

Refinanced Mortgage Loan:  A Mortgage Loan which was made to a
Mortgagor who owned the Mortgaged Property prior to the origination of such
Mortgage Loan and the proceeds of which were used in whole or part to satisfy an
existing mortgage.

REMIC:  A "real estate mortgage investment conduit" within
the meaning of Section 860D of the Code.

Remittance Date:  The 18th day of each month, beginning with the First
Remittance Date, or if such day is not a Business Day, the first Business Day
thereafter.

REO Disposition:  The final sale by the Servicer of any REO
Property.

REO Disposition Proceeds:  Amounts received by the Servicer in
connection with an REO Disposition.

REO Property:  A Mortgaged Property acquired by or on behalf of the
Purchaser in full or partial satisfaction of the related Mortgage as described
in Section 4.13.

Repurchase Price:  With respect to any Mortgage Loan, a price equal to
(i) the greater of (A) the product of the percentage of par stated in the
related Purchase Price and Terms Letter and the outstanding principal balance of
the Mortgage Loan and (B) the outstanding principal balance of the Mortgage
Loan, plus (ii) interest on such outstanding principal balance at the related
Mortgage Interest Rate from the date through which interest was last distributed
to the Purchaser (from payments from the related Mortgagor or from Monthly
Advances) through the day prior to the date of repurchase, plus (iii) third
party expenses incurred in connection with the transfer of the Mortgage Loan
being repurchased; less amounts received or advanced in respect of such
repurchased Mortgage Loan which are being held in the Custodial Account for
distribution in the month of repurchase, plus (iv) any unreimbursed Servicing
Advances or Servicing Fees.

SAIF:  The Savings Association Insurance Fund, or any successor
thereto.

Security Agreement:  With respect to a Co-op Loan, the agreement or
mortgage creating a security interest in favor of the originator of the Co-op
Loan in the related Co-op Stock.

Seller's Officer's Certificate: A certificate signed by the Chairman
of the Board, President, any Vice President or Treasurer of Seller stating the
date by which Seller expects to receive any missing documents sent for recording
from the applicable recording office.

Servicing Advances:  All customary, reasonable and necessary "out
of pocket" costs and expenses (including reasonable attorneys' fees and
disbursements) incurred in the performance by the Servicer of its servicing
obligations, including, but not limited to, the cost of (a) the
preservation, restoration and protection of a Mortgaged Property, (b) any
enforcement, administrative or judicial proceedings, or any legal work or advice
specifically related to servicing the Mortgage Loans, including but not limited
to, foreclosures, bankruptcies, condemnations, drug seizures, elections,
foreclosures by subordinate or superior lienholders, and other legal actions
incidental to the servicing of the Mortgage Loans (provided that such expenses
are reasonable and that the Servicer specifies the Mortgage Loan(s) to
which such expenses relate, and provided further that any such enforcement,
administrative or judicial proceeding does not arise out of a breach of any
representation, warranty or covenant of the Seller hereunder), (c) the
management and liquidation of any REO Property, (d) taxes, assessments,
water rates, sewer rates and other charges which are or may become a lien upon
the Mortgaged Property, and Primary Mortgage Insurance Policy premiums and fire
and hazard insurance coverage, (e) any expenses reasonably sustained by the
Servicer, with respect to the liquidation of the Mortgaged Property in
accordance with the terms of this Agreement and (f) compliance with the
obligations under Section 4.08.

Servicing File:  With respect to each Mortgage Loan, the documents
pertaining thereto specified in Exhibit A-2 and copies of all documents
for such Mortgage Loan specified in Exhibit A-1.

Servicing Officer:  Any officer of the Servicer involved in, or
responsible for, the administration and servicing of the Mortgage Loans whose
name appears on a list of servicing officers furnished by the Servicer to the
Purchaser upon request, as such list may from time to time be amended.

Servicing Transfer Date:  The date on which the responsibility for the
servicing of the Mortgage Loans transfers from the Servicer to the Purchaser or
its designee, as outlined in the Purchase Price and Terms Letter.  

Scheduled Principal Balance:  As to each Mortgage Loan, (i) the
principal balance of such Mortgage Loan at the Cut-off Date after giving effect
to payments of principal due on or before such date, whether or not received,
minus (ii) all amounts previously distributed to the Purchaser with respect to
the Mortgage Loan representing payments or recoveries of principal or advances
in lieu thereof.

Underwriting Standards:  As to each first lien Mortgage Loan, the
Purchaser's underwriting guidelines in effect as of the related Closing Date.
As to each second lien Mortgage Loan, the Seller's underwriting guidelines in
effect as of the related Closing Date.

Whole Loan Transfer:  As defined in Section 11.01(a)(i).

ARTICLE II

SERVICING OF MORTGAGE
LOANS;

RECORD TITLE AND POSSESSION OF MORTGAGE FILES;

BOOKS AND RECORDS; CUSTODIAL AGREEMENT;

DELIVERY OF MORTGAGE LOAN DOCUMENTS

	Agreement to Purchase.

The Seller agrees to sell and the Purchaser agrees to purchase on each
Closing Date pursuant to this Agreement and the related Purchase Price and Terms
Letter the Mortgage Loans being sold by the Seller and listed on the Mortgage
Loan Schedule, together with the servicing rights associated therewith, having
an aggregate Scheduled Principal Balance in an amount as set forth in the
related Purchase Price and Terms Letter, or in such other amount as agreed by
the Purchaser and the Seller as evidenced by the actual aggregate principal
balance of the Mortgage Loans accepted by the Purchaser on such Closing Date.
The Seller shall deliver in an electronic format the Mortgage Loan Schedule for
the Mortgage Loans to be purchased on such Closing Date to the Purchaser at
least four (4) Business Days prior to such Closing Date.

	Purchase Price.

The Purchase Price for the Mortgage Loans in a Mortgage Loan Package shall be
equal to the sum of (a) the percentage of par as stated in the related Purchase
Price and Terms Letter (subject to adjustment as provided therein), multiplied
by the aggregate Scheduled Principal Balance of Mortgage Loans listed on
the related Mortgage Loan Schedule plus (b) accrued interest on the aggregate
Scheduled Principal Balance of the Mortgage Loans at the weighted average
Mortgage Interest Rate of such Mortgage Loans from the Cut-off Date to but not
including such Closing Date (the "Purchase Price"). If so
provided in the Purchase Price and Terms Letter, portions of the Mortgage Loans
shall be priced separately.

The Purchase Price as set forth in the preceding paragraph for the Mortgage
Loans in a Mortgage Loan Package shall be paid on the Closing Date by wire
transfer of immediately available funds.

With respect to each Mortgage Loan, the Purchaser shall be entitled to
(1) the principal portion of all Monthly Payments due after the Cut-off
Date, (2) all other recoveries of principal collected on or after the Cut-
off Date (provided, however, that the principal portion of all Monthly Payments
due on or before the Cut-off Date and collected by the Servicer or any successor
servicer after the Cut-off Date shall belong to the Seller), and (3) all
payments of interest on the Mortgage Loans (minus that portion of any such
payment which is allocable to the period prior to the Cut-off Date).  The
Scheduled Principal Balance of each Mortgage Loan as of the Cut-off Date
is determined after application of payments of principal due on or before the
Cut-off Date whether or not collected, together with any unscheduled Principal
Prepayments collected prior to the Cut-off Date; provided, however, that Monthly
Payments for a Due Date beyond the Cut-off Date shall not be applied to the
principal balance as of the Cut-off Date.  Such Monthly Payments shall be the
property of the Purchaser.  The Seller shall deposit any such Monthly Payments
into the Custodial Account.

	Servicing of Mortgage Loans.

On each Closing Date, the Mortgage Loans in the related Mortgage Loan Package
will be sold by the Seller to the Purchaser on a servicing released basis.
Subject to, and upon the terms and conditions of this Agreement, the Seller
hereby transfers, assigns and delivers to the Purchaser the right to service
each such Mortgage Loan sold by it as of such Closing Date. 

Simultaneously with the execution and delivery of this Agreement, for each
Mortgage Loan Package, the Servicer hereby agrees to service the Mortgage Loans
listed on the Mortgage Loan Schedule, during the Interim Servicing Period in
accordance with Accepted Servicing Practices and this Agreement.

	Record Title and Possession of Mortgage Files;
Maintenance of Servicing Files. 

As of each Closing Date, the Seller will have sold, transferred, assigned,
set over and conveyed to the Purchaser, without recourse, and the Seller hereby
acknowledges that the Purchaser will have, all the right, title and interest of
the Seller in and to the Mortgage Loans.  In accordance with Section 2.07, the
Seller shall deliver at its own expense, the Mortgage Files for the related
Mortgage Loans to Purchaser or its designee. In addition, on or before each
Closing Date, the Seller shall deliver at its own expense, the related Servicing
Files for the related Mortgage Loans to the Servicer. The possession of each
Servicing File by the Servicer is at the will of the Purchaser, for the sole
purpose of servicing the related Mortgage Loan during the Interim Servicing
Period, and such retention and possession by the Servicer is in a custodial
capacity only.  From each Closing Date, the ownership of each related Mortgage
Loan, including the Mortgage Note, the Mortgage, the contents of the related
Mortgage File and all rights, benefits, proceeds and obligations arising
therefrom or in connection therewith, has been vested in the Purchaser.  All
rights arising out of the Mortgage Loans including, but not limited to, all
funds received on or in connection with the Mortgage Loans and all records or
documents with respect to the Mortgage Loans prepared by or which come into the
possession of the Seller shall be received and held by the Seller in trust for
the benefit of the Purchaser as the owner of the Mortgage Loans.  Any portion of
the Mortgage Files retained by the Seller shall be appropriately identified in
the Seller's computer system to clearly reflect the ownership of the Mortgage
Loans by the Purchaser.  The Servicer shall release its custody of the contents
of the Servicing Files only in accordance with written instructions of the
Purchaser, except when such release is required as incidental to the Servicer's
servicing of the Mortgage Loans or is in connection with a repurchase of any
Mortgage Loan or Loans with respect thereto pursuant to this Agreement, such
written instructions shall not be required.  Servicing Files for the Mortgage
Loans shall be delivered to the Purchaser or its designee on or before the
Servicing Transfer Date.

In addition, in connection with the assignment of any MERS Mortgage Loan, the
Seller agrees that it will cause, at its own expense, the MERS® System to
indicate that such Mortgage Loans have been assigned by the Seller to the
Purchaser in accordance with this Agreement by including (or deleting, in the
case of Mortgage Loans which are repurchased in accordance with this Agreement)
in such computer files the information required by the MERS® System to
identify the Purchaser of such Mortgage Loans.  The Seller further agrees that
it will not, and will not permit the Servicer to, and the Servicer agrees that
it will not, alter the information referenced in this paragraph with respect to
any Mortgage Loan during the term of this Agreement unless and until such
Mortgage Loan is repurchased in accordance with the terms of this Agreement.

	Books and Records.

The sale of each Mortgage Loan will be reflected on the Seller's balance
sheet and other financial statements as a sale of assets by the Seller.  The
Seller shall maintain, a complete set of books and records for the Mortgage
Loans sold by it which shall be appropriately identified in the Seller's
computer system to clearly reflect the ownership of the Mortgage Loans by the
Purchaser.  In particular, the Seller shall maintain in its possession,
available for inspection by the Purchaser, or its designee and shall deliver to
the Purchaser upon demand, evidence of compliance with all federal, state and
local laws, rules and regulations, and requirements of Fannie Mae or Freddie
Mac, as applicable, including but not limited to documentation as to the method
used in determining the applicability of the provisions of the Flood Disaster
Protection Act of 1973, as amended, to the Mortgaged Property, documentation
evidencing insurance coverage and eligibility of any condominium project for
approval by Seller and periodic inspection reports as required by Section 4.13.
To the extent that original documents are not required for purposes of
realization of Liquidation Proceeds or Insurance Proceeds, documents maintained
by the Seller may be in the form of microfilm or microfiche or such other
reliable means of recreating original documents, including but not limited to,
optical imagery techniques so long as the Seller complies with the requirements
of the Fannie Mae Guides.

In addition to the foregoing, the Seller shall provide to any supervisory
agents or examiners that regulate the Purchaser, including but not limited to,
the OTS, the FDIC and other similar entities, access, during normal business
hours, upon reasonable advance notice to the Seller and without charge to the
Seller or such supervisory agents or examiners, to any documentation regarding
the Mortgage Loans that may be required by any applicable regulator.

	Transfer of Mortgage Loans.

The Seller and Servicer shall keep at its office books and records in which,
subject to such reasonable regulations as it may prescribe, the Seller and
Servicer shall note transfers of Mortgage Loans.  No transfer of a Mortgage Loan
may be made unless such transfer is in compliance with the terms of Section
12.12. For the purposes of this Agreement, the Seller and Servicer shall be
under no obligation to deal with any person with respect to this Agreement or
any Mortgage Loan unless a properly executed Assignment, Assumption and
Recognition Agreement in the form of Exhibit D with respect to such
Mortgage Loan has been delivered to the Seller and Servicer.  Upon receipt of
notice of the transfer, the Seller and Servicer shall mark its books and records
to reflect the ownership of the Mortgage Loans by such assignee, and the
previous Purchaser shall be released from its obligations hereunder with respect
to the Mortgage Loans sold or transferred.

	Delivery of Mortgage Loan Documents.

The Seller shall deliver and release to the Purchaser or its designee the
Mortgage Loan Documents no later than five (5) Business Days prior to the
Closing Date pursuant to a bailee letter agreement. If the Seller cannot deliver
the original recorded Mortgage Loan Documents on the Closing Date, the Seller
shall, promptly upon receipt thereof and in any case not later than 90 days from
the Closing Date, deliver such original recorded documents to the Purchaser or
its designee (unless the Seller is delayed in making such delivery by reason of
the fact that such documents shall not have been returned by the appropriate
recording office).  If delivery is not completed within 90 days of the Closing
Date solely because such documents shall not have been returned by the
appropriate recording office, the Seller shall deliver or cause to be delivered
to the Purchaser or its designee, a Seller's Officer's Certificate which shall
(i) identify the recorded document, (ii) state that the recorded document has
not been delivered to the Purchaser or its designee due solely to a delay caused
by the public recording office, and (iii) state the amount of time generally
required by the applicable recording office to record and return a document
submitted for recordation.  In the event that documents have not been received
by the date specified in the Seller's Officer's Certificate, a subsequent
Seller's Officer's Certificate shall be delivered by such date specified in the
prior Seller's Officer's Certificate, stating a revised date for receipt of
documentation.  The procedure shall be repeated until the documents have been
received and delivered. The Seller shall use its best efforts to effect delivery
of all delayed recorded documents within 120 days of the Closing Date.

Pursuant to Section 12.11, the Seller shall be responsible for recording the
Assignments of Mortgage (or Form UCC-3's for Co-op Loans).  The Seller shall pay
all initial recording fees, for the Assignments of Mortgage (or Form UCC-3's for
Co-op Loans) and any other fees in connection with the transfer of the Mortgage
Loan Documents to the Purchaser or its designee.

Any review by the Purchaser or its designee of the Mortgage Files shall in no
way alter or reduce the Seller's obligations hereunder.

If the Purchaser or its designee discovers any defect with respect to any
document constituting part of a Mortgage File, the Purchaser shall, or shall
cause its designee to, give written specification of such defect to the Seller
and the Seller shall cure or repurchase such Mortgage Loan in accordance with
Section 3.03.

The Servicer shall forward to the Purchaser, or its designee, original
documents evidencing an assumption, modification, consolidation or extension of
any Mortgage Loan entered into in accordance with Section 4.01 or 6.01 within
one week of their execution and shall also provide the original of any document
submitted for recordation or a copy of such document certified by the
appropriate public recording office to be a true and complete copy of the
original within five (5) days of its return from the appropriate public
recording office.

	Quality Control Procedures.

The Seller must have an internal quality control program that verifies, on a
regular basis, the existence and accuracy of the legal documents, credit
documents, property appraisals, and underwriting decisions.  The program must be
capable of evaluating and monitoring the overall quality of its loan production
and servicing activities.  The program is to ensure that the Mortgage Loans are
originated and serviced in accordance with prudent mortgage banking practices
and accounting principles; guard against dishonest, fraudulent, or negligent
acts; and guard against errors and omissions by officers, employees, or other
authorized persons.

	Closing.

The closing for the purchase and sale of the Mortgage Loans shall take place
on a Closing Date.  The closing shall be either:  by telephone, confirmed by
letter or wire as the parties shall agree, or conducted in person, at such place
as the parties shall agree.

The closing for the Mortgage Loans to be purchased on the Closing Date shall
be subject to each of the following conditions:

	at least  five (5) Business Days prior to the Closing Date, the Seller shall
deliver to the Purchaser a magnetic diskette, or transmit by modem or e-mail, a
listing on a loan-level basis of the information contained in the Mortgage Loan
Schedule;
	all of the representations and warranties of the Seller and the Servicer
under this Agreement shall be materially true and correct as of the Closing Date
or, with respect to representations and warranties made as of a date other than
the Closing Date, as of such date, and no event shall have occurred which, with
notice or the passage of time, would constitute a material default under this
Agreement;
	the Purchaser shall have received, or the Purchaser's attorneys shall have
received in escrow, all closing documents, in such forms as are agreed upon and
acceptable to the Purchaser, duly executed by all signatories other than the
Purchaser as required pursuant to the terms hereof;
	the Seller and the Servicer shall have delivered and released to the
Purchaser (or its designee) on or prior to the Closing Date all documents
required pursuant to the terms of this Agreement; and
	all other terms and conditions of this Agreement and the Purchase Price and
Terms Letters shall have been materially complied with.

Subject to the foregoing conditions, the Purchaser shall pay to the Seller on
the Closing Date the Purchase Price pursuant to Section 2.02 of this Agreement,
by wire transfer of immediately available funds to the account designated by the
Seller.

ARTICLE III

REPRESENTATIONS AND
WARRANTIES OF

THE SELLER AND THE SERVICER; REPURCHASE; REVIEW OF MORTGAGE
LOANS

	Representations and Warranties of the Seller
and the Servicer. 

E-LOAN, Inc., in its capacity as Seller and Servicer (for the purposes of
this Section 3.01 only, the "Company"),  represents, warrants and
covenants to the Purchaser that as of each Closing Date or as of such date
specifically provided herein:

	The Company is a corporation duly organized, validly existing and in good
standing under the laws of the jurisdiction of its incorporation and has all
licenses necessary to carry out its business as now being conducted, and is
licensed and qualified to transact business in and is in good standing under the
laws of each state in which any Mortgaged Property is located or is otherwise
exempt under applicable law from such licensing or qualification or is otherwise
not required under applicable law to effect such licensing or qualification and
no demand for such licensing or qualification has been made upon the Company by
any such state, and in any event the Company is in compliance with the laws of
any such state to the extent necessary to ensure the enforceability of each
Mortgage Loan and the servicing of the Mortgage Loans in accordance with the
terms of this Agreement;
	The Company has the full power and authority and legal right to hold,
transfer and convey each Mortgage Loan, to sell each Mortgage Loan and to
execute, deliver and perform, and to enter into and consummate all transactions
contemplated by this Agreement and the related Purchase Price and Terms Letter
and to conduct its business as presently conducted; the Company has duly
authorized the execution, delivery and performance of this Agreement and any
agreements contemplated hereby, has duly executed and delivered this Agreement
and the related Purchase Price and Terms Letter, and any agreements contemplated
hereby, and this Agreement and the related Purchase Price and Terms Letter and
each Assignment of Mortgage to the Purchaser and any agreements contemplated
hereby, constitute the legal, valid and binding obligations of the Company,
enforceable against it in accordance with their respective terms  except as such
enforceability may be limited by bankruptcy, insolvency, moratorium,
reorganization and similar laws, and by equitable principles affecting the
enforceability of the rights of creditors; and all requisite corporate action
has been taken by the Company to make this Agreement , the related Purchase
Price and Terms Letter and all agreements contemplated hereby valid and binding
upon the Company in accordance with their terms;
	Neither the execution and delivery of this Agreement, the related Purchase
Price and Terms Letter, the sale of the Mortgage Loans to the Purchaser, the
consummation of the transactions contemplated hereby, nor the fulfillment of or
compliance with the terms and conditions of this Agreement and the related
Purchase Price and Terms Letter will conflict with any of the terms, conditions
or provisions of the Company's charter or by-laws or materially conflict with or
result in a material breach of any of the terms, conditions or provisions of any
legal restriction or any agreement or instrument to which the Company is now a
party or by which it is bound, or constitute a default or result in an
acceleration under any of the foregoing, or result in the material violation of
any law, rule, regulation, order, judgment or decree to which the Company or its
property is subject;
	There is no litigation, suit, proceeding or investigation pending or, to the
best of the Company's knowledge,  threatened, or any order or decree
outstanding, which is reasonably likely to have a material adverse effect on the
sale of the Mortgage Loans, the execution, delivery, performance or
enforceability of this Agreement or the related Purchase Price and Terms Letter,
or which is reasonably likely to have a material adverse effect on the financial
condition of the Company;
	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 and the related
Purchase Price and Terms Letter, except for consents, approvals, authorizations
and orders which have been obtained;
	The consummation of the transactions contemplated by this Agreement and the
related Purchase Price and Terms Letter 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 and the
related Purchase Price and Terms Letter are not subject to bulk transfer or any
similar statutory provisions in effect in any applicable jurisdiction;
	The origination and servicing practices with respect to each Mortgage Note
and Mortgage have been legal and in accordance with 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
payments that the Company is entitled to collect, all such payments are in the
possession of, or under the control of, the Company, 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
and are being maintained in full compliance with applicable state and federal
law and the provisions of the related Mortgage Note and Mortgage.  As to any
Mortgage Loan that is the subject of an escrow, escrow of funds is not
prohibited by applicable law and has been established in an amount sufficient to
pay for every escrowed item that remains unpaid and has been assessed but is not
yet due and payable.  No escrow deposits or other charges or payments due under
the Mortgage Note have been capitalized under any Mortgage or the related
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;
	The Company has not used selection procedures that identified the Mortgage
Loans as being less desirable or valuable than other comparable mortgage loans
in the Company's portfolio at the Cut-off Date; 
	The Company will treat the sale of the Mortgage Loans to the Purchaser as a
sale for reporting and accounting purposes and, to the extent appropriate, for
federal income tax purposes; 
	The Company is an approved seller/servicer of residential mortgage loans for
Freddie Mac and a Fannie Mae approved seller, with such facilities, procedures
and personnel necessary for the sound servicing of such mortgage loans.  The
Company is duly qualified, licensed, registered and otherwise authorized under
all applicable federal, state and local laws, and regulations, meets the minimum
capital requirements, if applicable, set forth by the OCC, and is in good
standing to sell mortgage loans to and service mortgage loans for Fannie Mae or
Freddie Mac and no event has occurred which would make the Company unable to
comply with eligibility requirements or which would require notification to
either Fannie Mae or Freddie Mac; 
	The Company does not believe, nor does it have any cause or reason to
believe, that it cannot perform each and every covenant contained in this
Agreement and the related Purchase Price and Terms Letter. 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 with the intent to
hinder, delay or defraud any of the Company's creditors;
	No statement, tape, diskette, form, report or other document prepared by, or
on behalf of, the Company pursuant to this Agreement, the related Purchase Price
and Terms Letter or in connection with the transactions contemplated hereby,
contains or will contain any statement that is or will be inaccurate or
misleading in any material respect.  The Company has prudently originated and
underwritten each Mortgage Loan;
	The Company acknowledges and agrees that the Interim Servicing Fee
represents reasonable compensation for performing such services and that the
entire Interim Servicing Fee shall be treated by the Company, for accounting and
tax purposes, as compensation for the servicing and administration of the
Mortgage Loans pursuant to this Agreement;
	The Company has delivered to the Purchaser financial statements as to its
last two complete fiscal years.  All such financial statements fairly present
the pertinent results of operations and changes in financial position for each
of such periods and the financial position at the end of each such period of the
Company and its subsidiaries and have been prepared in accordance with GAAP
consistently applied throughout the periods involved, except as set forth in the
notes thereto.  There has been no change in the business, operations, financial
condition, properties or assets of the Company since the date of the Company's
financial statements that would have a material adverse effect on its ability to
perform its obligations under this Agreement or the related Purchase Price and
Terms Letter; 
	The Company has not dealt with any broker, investment banker, agent or other
person that may be entitled to any commission or compensation in connection with
the sale of the Mortgage Loans; and
	The Company is a member of MERS in good standing, and will comply in
all material respects with the rules and procedures of MERS in connection with
the servicing of the MERS Mortgage Loans for as long as such Mortgage Loans are
registered with MERS.

	Representations and Warranties as to Individual
Mortgage Loans.

The Seller hereby represents and warrants to the Purchaser, as to each
Mortgage Loan, as of the applicable Closing Date as follows:

	The information set forth in the Mortgage Loan Schedule, including any
diskette or other related data tapes sent to the Purchaser, is complete, true
and correct in all material respects as of the Cut-off Date;
	With respect to a first lien Mortgage Loan that is not a Co-op Loan, the
Mortgage creates a first lien or a first priority ownership interest in an
estate in fee simple in real property securing the related Mortgage Note.  With
respect to a first lien Mortgage Loan that is a Co-op Loan, the Mortgage creates
a first lien or a first priority ownership interest in the stock ownership and
leasehold rights associated with the cooperative unit securing the related
Mortgage Note;
	With respect to a second lien Mortgage Loan that is not a Co-op Loan, the
Mortgage creates a second lien or a second priority ownership interest in an
estate in fee simple in real property securing the related Mortgage Note.  With
respect to a second lien Mortgage Loan that is a Co-op Loan, the Mortgage
creates a second lien or a second priority ownership interest in the stock
ownership and leasehold rights associated with the cooperative unit securing the
related Mortgage Note;
	All payments due on or prior to the Cut-off Date for such Mortgage Loan have
been made as of the Closing Date, the Mortgage Loan is not  30 days or more
delinquent in payment  and has not been dishonored; there are no material
defaults under the terms of the Mortgage Loan; the Seller has not advanced
funds, or induced, solicited or knowingly received any advance of funds from a
party other than the owner of the Mortgaged Property subject to the Mortgage,
directly or indirectly, for the payment of any amount required by the Mortgage
Loan; as to each first lien Mortgage Loan, there has been no more than one
delinquency of 30 days or more during the immediately preceding twelve-month
period ; and as to each second lien Mortgage Loan, there has been no delinquency
of 30 days or more during the immediately preceding twelve-month period;
	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 escrow funds have been established in an amount
sufficient to pay for every such escrowed item which remains unpaid and which
has been assessed but is not yet due and payable;
	The terms of the Mortgage Note and the Mortgage have not been impaired,
waived, altered or modified in any respect, except by written instruments which
have been recorded to the extent any such recordation is required by law, or,
necessary to protect the interest of the Purchaser. No instrument of waiver,
alteration or modification has been executed, and no Mortgagor has been
released, in whole or in part, from the terms thereof except in connection with
an assumption agreement and which assumption agreement is part of the Mortgage
File and the terms of which are reflected in the Mortgage Loan Schedule; the
substance of any such waiver, alteration or modification has been approved by
the issuer of any related Primary Mortgage Insurance Policy and title insurance
policy, to the extent required by the related policies;
	The Mortgage Note and the Mortgage are not subject to any right of
rescission, set-off, counterclaim or defense, including, without limitation, the
defense of usury, nor will the operation of any of the terms of the Mortgage
Note or the Mortgage, or the exercise of any right thereunder, render the
Mortgage Note or Mortgage unenforceable, in whole or in part, or subject to any
right of rescission, set-off, counterclaim or defense, including the defense of
usury, and no such right of rescission, set-off, counterclaim or defense has
been asserted with respect thereto; and the Mortgagor was not a debtor in any
state or federal bankruptcy or insolvency proceeding at the time the Mortgage
Loan was originated;
	All buildings or other customarily insured improvements upon the Mortgaged
Property are insured by an insurer acceptable under the Fannie Mae Guides,
against loss by fire, hazards of extended coverage and such other hazards as are
provided for in the Fannie Mae Guides or by Freddie Mac, as well as all
additional requirements set forth in Section 4.10 of this Agreement. All such
standard hazard policies are in full force and effect and on the date of
origination contained a standard mortgagee clause naming the Seller and its
successors in interest and assigns as loss payee and such clause is still in
effect and all premiums due thereon have been paid.  If required by the Flood
Disaster Protection Act of 1973, as amended, the Mortgage Loan is covered by a
flood insurance policy meeting the requirements of the current guidelines of the
Federal Insurance Administration which policy conforms to Fannie Mae and Freddie
Mac requirements, as well as all additional requirements set forth in Section
4.10 of this Agreement.  Such policy was issued by an insurer acceptable under
Fannie Mae or Freddie Mac guidelines.  The Mortgage obligates the Mortgagor
thereunder to maintain all such insurance at the Mortgagor's cost and expense,
and upon the Mortgagor's failure to do so, authorizes the holder of the Mortgage
to maintain such insurance at the Mortgagor's cost and expense and to seek
reimbursement therefor from the Mortgagor;
	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 or disclosure laws
applicable to the Mortgage Loan have been complied with in all material
respects;
	The Mortgage has not been satisfied, canceled or subordinated, in whole or
in part, or rescinded, 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.
The Seller has not waived the performance by the Mortgagor of any action, if the
Mortgagor's failure to perform such action would cause the Mortgage Loan to be
in default, nor has the Seller waived any default resulting from any action or
inaction by the Mortgagor;
	With respect to any first lien Mortgage Loan, the related Mortgage is a
valid, subsisting, enforceable and perfected first lien on the Mortgaged
Property and, with respect to any second lien Mortgage Loan, the related
Mortgage is a valid, subsisting, enforceable and perfected second lien on the
Mortgaged Property, including for Mortgage Loans that are not Co-op Loans, all
buildings on the Mortgaged Property and all installations and mechanical,
electrical, plumbing, heating and air conditioning systems affixed to such
buildings, and all additions, alterations and replacements made at any time with
respect to the foregoing securing the Mortgage Note's original principal
balance.  The Mortgage and the Mortgage Note do not contain any evidence of any
security interest or other interest or right thereto.  Such lien is free and
clear of all adverse claims, liens and encumbrances having priority over the
first or second lien, as applicable, of the Mortgage subject only to (1) with
respect to any second lien Mortgage Loan, the related First Lien, (2) the lien
of non-delinquent current real property taxes and assessments not yet due and
payable, (3) covenants, conditions and restrictions, rights of way, easements
and other matters of the public record as of the date of recording which are
acceptable to mortgage lending institutions generally and either (A) which are
referred to or otherwise considered in the appraisal made for the originator of
the Mortgage Loan, or (B) which do not adversely affect the appraised value of
the Mortgaged Property as set forth in such appraisal, and (4) 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 (1) with
respect to any first lien Mortgage Loan, a valid, subsisting, enforceable and
perfected first lien and first priority security interest and (2) with respect
to any second lien Mortgage Loan, a valid, subsisting, enforceable and perfected
second lien and second priority security interest, in each case, on the property
described therein, and the Seller has the full right to sell and assign the same
to the Purchaser;
	The Mortgage Note and the related Mortgage are original and genuine and each
is the legal, valid and binding obligation of the maker thereof, enforceable in
all respects in accordance with its terms subject to bankruptcy, insolvency,
moratorium, reorganization and other laws of general application affecting the
rights of creditors and by general equitable principles and the Seller has taken
all action necessary to transfer such rights of enforceability to the Purchaser.
All parties to the Mortgage Note and the Mortgage had the legal capacity to
enter into the Mortgage Loan and to execute and deliver the Mortgage Note and
the Mortgage.  The Mortgage Note and the Mortgage have been duly and properly
executed by such parties. No fraud, error, omission, misrepresentation,
negligence or similar occurrence with respect to a Mortgage Loan has taken place
on the part of Seller or the Mortgagor, or, on the part of any other party
involved in the origination of the Mortgage Loan.  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 improvements 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 or are in the process
of being paid, and the Mortgagor is not entitled to any refund of any amounts
paid or due under the Mortgage Note or Mortgage;
	The Seller or its affiliate is the sole owner of record and holder of the
Mortgage Loan and the indebtedness evidenced by the Mortgage Note, and upon
recordation the Purchaser or its designee will be the owner of record of the
Mortgage and the indebtedness evidenced by the Mortgage Note, and upon the sale
of the Mortgage Loan to the Purchaser, the Servicer will retain the Servicing
File in trust for the Purchaser only for the purpose of servicing and
supervising the servicing of the Mortgage Loan.  Immediately prior to the
transfer and assignment to the Purchaser on the Closing Date, the Mortgage Loan,
including the Mortgage Note and the Mortgage, were not subject to an assignment
or pledge, and the Seller had good and marketable title to and was the sole
owner thereof and had full right to transfer and sell the Mortgage Loan to the
Purchaser free and clear of any encumbrance, equity, lien, pledge, charge, claim
or security interest and has the full right and authority subject to no interest
or participation of, or agreement with, any other party, to sell and assign the
Mortgage Loan pursuant to this Agreement and following the sale of the Mortgage
Loan, the Purchaser will own such Mortgage Loan free and clear of any
encumbrance, equity, participation interest, lien, pledge, charge, claim or
security interest.  The Seller intends to relinquish all rights to possess,
control and monitor the Mortgage Loan, except for the purposes of servicing the
Mortgage Loan as set forth in this Agreement;
	Each Mortgage Loan that is not a Co-op Loan is covered by an ALTA lender's
title insurance policy or other generally acceptable form of policy or insurance
acceptable to Fannie Mae or Freddie Mac, issued by a title insurer acceptable to
Fannie Mae or Freddie Mac and qualified to do business in the jurisdiction where
the Mortgaged Property is located, insuring (subject to the exceptions contained
in (k)(1), (2), (3) and (4) above) the Seller, its successors and assigns, as to
the first or second, as applicable, priority lien of the Mortgage in the
original principal amount of the Mortgage Loan.  Where required by applicable
state law or regulation, the Mortgagor has been given the opportunity to choose
the carrier of the required mortgage title insurance.  The Seller, its
successors and assigns, are the sole insureds of such lender's title insurance
policy, such title insurance policy has been duly and validly endorsed to the
Purchaser or the assignment to the Purchaser of the Seller's interest therein
does not require the consent of or notification to the insurer and such lender's
title insurance policy is in full force and effect and will be in full force and
effect upon the consummation of the transactions contemplated by this Agreement
and the related Purchase Price and Terms Letter.  No claims have been made under
such lender's title insurance policy, and no prior holder of the related
Mortgage, including the Seller, has done, by act or omission, anything which
would impair the coverage of such lender's title insurance policy;
	There is no default, breach, violation or event of acceleration existing
under the Mortgage or the related 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 permitting acceleration;
and neither the Seller nor any prior mortgagee has waived any default, breach,
violation or event permitting acceleration.  With respect to each second lien
Mortgage Loan, (i) the First Lien is in full force and effect, (ii) there is no
default, breach, violation or event of acceleration existing under such prior
mortgage or the related mortgage note, (iii) no event which, with the passage of
time or with notice and the expiration of any grace or cure period, would
constitute a default, breach, violation or event of acceleration thereunder, and
either (A) the prior mortgage contains a provision which allows or (B)
applicable law requires, the mortgagee under the second lien Mortgage Loan to
receive notice of, and affords such mortgagee an opportunity to cure any default
by payment in full or otherwise under the prior mortgage;
	There are no mechanics' or similar liens or claims which have been filed for
work, labor or material (and no rights are outstanding that under law could give
rise to such liens) affecting the related Mortgaged Property which are or may be
liens prior to or equal to the lien of the related Mortgage;
	All improvements subject to the Mortgage which were considered in
determining the appraised value of the Mortgaged Property lie wholly within the
boundaries and building restriction lines of the Mortgaged Property (and wholly
within the project with respect to a condominium unit) and no improvements on
adjoining properties encroach upon the Mortgaged Property except those which are
insured against by the title insurance policy referred to in clause (m) above
and all improvements on the property comply with all applicable zoning and
subdivision laws and ordinances;
	The Mortgage Loan was originated by or for the Seller.  The Mortgage Loan
complies with all the terms, conditions and requirements of the Underwriting
Standards.  The Mortgage Notes and Mortgages (exclusive of any riders) are on
forms generally acceptable to Fannie Mae or Freddie Mac.  Seller is currently
selling loans to Fannie Mae and/or Freddie Mac which are the same document forms
as the Mortgage Notes and Mortgages (inclusive of any riders).  The Mortgage
Loan bears interest at the Mortgage Interest Rate set forth in the Mortgage Loan
Schedule, and Monthly Payments under the Mortgage Note are due and payable on
the first day of each month.  The Mortgage contains the usual and enforceable
provisions of the originator at the time of origination for the acceleration of
the payment of the unpaid principal amount of the Mortgage Loan if the related
Mortgaged Property is sold without the prior consent of the mortgagee
thereunder;
	The Mortgaged Property is not subject to any material damage by waste, fire,
earthquake, windstorm, flood or other casualty.  At origination of the Mortgage
Loan there was, and there currently is, no proceeding pending for the total or
partial condemnation of the Mortgaged Property. There have not been any
condemnation proceedings with respect to the Mortgaged Property and there are no
such proceedings scheduled to commence at a future date;
	The related Mortgage contains 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.  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;
	If the Mortgage constitutes a deed of trust, a trustee, authorized and duly
qualified if required under applicable law to act as such, has been properly
designated and currently so serves and is named in the Mortgage, and no fees or
expenses, except as may be required by local law, are or will become payable by
the Purchaser to the trustee under the deed of trust, except in connection with
a trustee's sale or attempted sale after default by the Mortgagor;
	The Mortgage File contains an appraisal of the related Mortgaged Property
signed prior to the final approval of the mortgage loan application by a
Qualified Appraiser, 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, and the
appraisal and appraiser both satisfy the requirements of Fannie Mae or Freddie
Mac and Title XI of FIRREA and the regulations promulgated thereunder, all as in
effect on the date the Mortgage Loan was originated.  The appraisal is in a form
acceptable to Fannie Mae or Freddie Mac;
	All parties which have had any interest in the Mortgage, whether as
mortgagee, assignee, pledgee or otherwise, are (or, during the period in which
they held and disposed of such interest, were) (A) in compliance with any and
all applicable licensing requirements of the laws of the state wherein the
Mortgaged Property is located, and (B) (1) organized under the laws of such
state, or (2) qualified to do business in such state, or (3) federal savings and
loan associations or national banks or a Federal Home Loan Bank or savings bank
having principal offices in such state, or (4) not doing business in such
state;
	The related 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 and such collateral does not serve as security for
any other obligation;
	The Mortgagor has received all disclosure materials required by applicable
law with respect to the making of such mortgage loans;
	The Mortgage Loan does not contain "graduated payment" features;
to the extent any Mortgage Loan contains any buydown provision, such buydown
funds have been maintained and administered in accordance with, and such
Mortgage Loan otherwise complies with, Fannie Mae/Freddie Mac requirements
relating to buydown loans;
	The Mortgagor is not in bankruptcy or insolvent  and the Seller has no
knowledge of any circumstances or condition with respect to the Mortgage, the
Mortgaged Property, the Mortgagor or the Mortgagor's credit standing that could
reasonably be expected to cause the Mortgage Loan to become delinquent, or
materially adversely affect the value of the Mortgage Loan;
	The Mortgage Loans have an original term to maturity of not more than 30
years with interest payable in arrears on the first day of each month. Each
Mortgage Note requires a monthly payment which is sufficient to fully amortize
the original principal balance over the original term thereof and to pay
interest at the related Mortgage Interest Rate; provided, however, in the case
of a balloon Mortgage Loan, the Mortgage Loan matures at least five (5) years
after the first payment date thereby requiring a final payment of the
outstanding principal balance prior to the full amortization of the Mortgage
Loan. No Mortgage Loan contains terms or provisions which would result in
negative amortization. 
	Except for Mortgage Loans underwritten in accordance with the Lender Paid
Mortgage Insurance Policy Program, if a Mortgage Loan has an LTV greater than
80%, the excess of the principal balance of the Mortgage Loan over 75% of the
Appraised Value, with respect to a Refinanced Mortgage Loan, or the lesser of
the Appraised Value or the purchase price of the Mortgaged Property, with
respect to a purchase money Mortgage Loan, is and will be insured as to payment
defaults by a Primary Mortgage Insurance Policy issued by a Qualified Insurer.
All provisions of such Primary Mortgage Insurance Policy have been and are being
complied with, such policy is in full force and effect, and all premiums due
thereunder have been paid.  No action, inaction, or event has occurred and no
state of facts exists that has, or will result in the exclusion from, denial of,
or defense to coverage.  Any Mortgage Loan subject to a Primary Mortgage
Insurance Policy obligates the Mortgagor thereunder to maintain the Primary
Mortgage Insurance Policy and to pay all premiums and charges in connection
therewith. The mortgage interest rate for the Mortgage Loan as set forth on the
Mortgage Loan Schedule is net of any such insurance premium; 
	The Assignment of Mortgage is in recordable form and is acceptable for
recording under the laws of the jurisdiction in which the Mortgaged Property is
located;
	As to Mortgage Loans that are not Co-op Loans and that are not secured by an
interest in a leasehold estate, 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
townhouse, or a two-to four-family dwelling, or an individual condominium unit
in a condominium project, or an individual unit in a planned unit development or
a de minimis planned unit development, provided, however, that no residence or
dwelling is a single parcel of real property with a cooperative housing
corporation erected thereon, or a mobile home.  As of the date of origination,
no portion of the Mortgaged Property was used for commercial purposes, and since
the date of origination no portion of the Mortgaged Property has been used for
commercial purposes;
	Principal payments on the Mortgage Loan commenced no more than sixty (60)
days after the funds were disbursed in connection with the Mortgage Loan.  The
Mortgage Note is payable on the first day of each month in 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 with respect to each Mortgage Loan; provided, however, in the case
of a balloon Mortgage Loan, the Mortgage Loan matures at least five (5) years
after the first payment date thereby requiring a final payment of the
outstanding principal balance prior to the full amortization of the Mortgage
Loan;
	With respect to each Mortgage Loan that contains a Prepayment Penalty, such
Prepayment Penalty is enforceable and will be enforced by the Seller, and such
Prepayment Penalty is 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.  Except as otherwise set
forth on the Mortgage Loan Schedule, with respect to each Mortgage Loan that
contains a Prepayment Penalty, such Prepayment Penalty is at least equal to the
lesser of (A) the maximum amount permitted under applicable law and (B) six
months interest at the related Mortgage Interest Rate on the amount prepaid in
excess of 20% of the original principal balance of such Mortgage Loan;
	As of the date of origination of the Mortgage Loan, the Mortgaged Property
was lawfully occupied under applicable law, and 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;
	If the Mortgaged Property is a condominium unit or a planned unit
development (other than a de minimis planned unit development), or stock in a
cooperative housing corporation, such condominium, cooperative or planned unit
development project meets the Seller's eligibility requirements as set forth in
Underwriting Standards;
	There is no pending action or proceeding directly involving the Mortgaged
Property in which compliance with any environmental law, rule or regulation is
an issue; there is no violation of any environmental law, rule or regulation
with respect to the Mortgaged Property; and nothing further remains to be done
to satisfy in full all requirements of each such law, rule or regulation
constituting a prerequisite to use and enjoyment of said property;
	The Mortgagor has not notified the Seller, and the Seller has no knowledge
of any relief requested or allowed to the Mortgagor under the Soldiers' and
Sailors' Civil Relief Act of 1940;
	No Mortgage Loan was made in connection with the construction or
rehabilitation of a Mortgaged Property or facilitating the trade-in of a
Mortgaged Property;
	No action has been taken or failed to be taken by the Seller on or prior to
the Closing Date which has resulted or will result in an exclusion from, denial
of, or defense to coverage under any Primary Mortgage Insurance Policy
(including, without limitation, any exclusions, denials or defenses which would
limit or reduce the availability of the timely payment of the full amount of the
loss otherwise due thereunder to the insured) whether arising out of actions,
representations, errors, omissions, negligence, or fraud of the Seller, or for
any other reason under such coverage;
	Each Mortgage Loan has been serviced in all material respects in compliance
with Accepted Servicing Practices;  
	With respect to each Co-op Loan, the related Mortgage is a valid,
enforceable and subsisting first security interest on the related cooperative
shares securing the related cooperative note, subject only to (a) liens of the
cooperative for unpaid assessments representing the Mortgagor's pro rata share
of the cooperative's payments for its blanket mortgage, current and future real
property taxes, insurance premiums, maintenance fees and other assessments to
which like collateral is commonly subject and (b) other matters to which like
collateral is commonly subject which do not materially interfere with the
benefits of the security intended to be provided by the Security Agreement.
There are no liens against or security interest in the cooperative shares
relating to each Co-op Loan (except for unpaid maintenance, assessments and
other amounts owed to the related cooperative which individually or in the
aggregate will not have a material adverse effect on such Co-op Loan), which
have priority over the Seller's security interest in such cooperative shares;

	With respect to each Co-op Loan, a search for filings of financing
statements has been made by a company competent to make the same, which company
is acceptable to Fannie Mae and qualified to do business in the jurisdiction
where the cooperative unit is located, and such search has not found anything
which would materially and adversely affect the Co-op Loan; 
	With respect to each Co-op Loan, the related cooperative corporation that
owns title to the related cooperative apartment building is a "cooperative
housing corporation" within the meaning of Section 216 of the Code, and is
in material compliance with applicable federal, state and local laws which, if
not complied with, could have a material adverse effect on the Mortgaged
Property; 
	With respect to each Co-op Loan, there is no prohibition against pledging
the shares of the cooperative corporation or assigning the Co-op Lease; 
	The Mortgage Loan was originated by a mortgagee approved by the Secretary of
Housing and Urban Development as a Title II, non-supervised lender, a savings
and loan association, a savings bank, a commercial bank, credit union, insurance
company or similar institution which is supervised and examined by a federal or
state authority;
	With respect to any ground lease to which a Mortgaged Property may be
subject: (i) a true, correct and complete copy of the ground lease and all
amendments, modifications and supplements thereto is included in the Servicing
File, and the Mortgagor is the owner of a valid and subsisting leasehold
interest under such ground lease; (ii) such ground lease is in full force and
effect, unmodified and not supplemented by any writing or otherwise except as
contained in the Mortgage File; (iii) all rent, additional rent and other
charges reserved therein have been fully paid to the extent payable as of the
Closing Date; (iv) the Mortgagor enjoys the quiet and peaceful possession of the
leasehold estate, subject to any sublease; (v) the Mortgagor is not in default
under any of the terms of such ground lease, and there are no circumstances
which, with the passage of time or the giving of notice, or both, would result
in a default under such ground lease; (vi) the lessor under such ground lease is
not in default under any of the terms or provisions of such ground lease on the
part of the lessor to be observed or performed; (vii) the lessor under such
ground lease has satisfied any repair or construction obligations due as of the
Closing Date pursuant to the terms of such ground lease; (viii) the execution,
delivery and performance of the Mortgage do not require the consent (other than
those consents which have been obtained and are in full force and effect) under,
and will not contravene any provision of or cause a default under, such ground
lease; (ix) the ground lease term extends, or is automatically renewable, for at
least five years beyond the maturity date of the related Mortgage Loan; and (x)
the Purchaser has the right to cure defaults on the ground lease;
	With respect to any broker fees collected and paid on any of the Mortgage
Loans, all broker fees have been properly assessed to the borrower and no claims
will arise as to broker fees that are double charged and for which the borrower
would be entitled to reimbursement;
	With respect to any Mortgage Loan as to which an affidavit has been
delivered to the Purchaser certifying that the original Mortgage Note has been
lost or destroyed and not been replaced, if such Mortgage Loan is subsequently
in default, the enforcement of such Mortgage Loan will not be materially
adversely affected by the absence of the original Mortgage Note;
	Each Mortgage Loan constitutes a qualified mortgage under Section
860G(a)(3)(A) of the Code and Treasury Regulations Section 1.860G-2(a)(1);
	Except as provided in Section 2.07, the Mortgage Note, the Mortgage, the
Assignment of Mortgage and the other documents set forth in Exhibit A-1 and
required to be delivered on the related Closing Date have been delivered to the
Purchaser or its designee;
	All information supplied by, on behalf of, or concerning the Mortgagor is
true, accurate and complete and does not contain any statement that is or will
be inaccurate or misleading in any material respect; 
	There does not exist on the related Mortgage Property any hazardous
substances, hazardous wastes or solid wastes, as such terms are defined in the
Comprehensive Environmental Response Compensation and Liability Act, the
Resource Conservation and Recovery Act of 1976, or other federal, state or local
environmental legislation; 
	The Mortgagor has executed a statement to the effect that the Mortgagor has
received all disclosure materials required by applicable law with respect to the
making of adjustable rate mortgage loans.  The Servicer shall maintain such
statement in the Servicing File;
	No second lien Mortgage Loan has an LTV in excess of 100%.  No second lien
Mortgage Loan has an Equity LTV in excess of 100%;
	Either (a) no consent for the second lien Mortgage Loan is required by the
holder of the related first lien or (b) such consent has been obtained and is
contained in the Mortgage File;
	With respect to any second lien Mortgage Loan, the Seller has not received
notice of:  (1) any proceeding for the total or partial condemnation of any
Mortgaged Property, (2) any subsequent, intervening mortgage, lien, attachment,
lis pendens or other encumbrance affecting any Mortgaged Property or (3) any
default under any mortgage, lien or other encumbrance senior to each
Mortgage;
	With respect to any second lien Mortgage Loan, where required or customary
in the jurisdiction in which the Mortgaged Property is located, the original
lender has filed for record a request for notice of any action by the senior
lienholder under the related First Lien, and the original lender  has notified
any senior lienholder in writing of the existence of the second lien Mortgage
Loan and requested notification of any action to be taken against the Mortgagor
by the senior lienholder;
	No second lien Mortgage Loan is a "home equity line of
credit";
	No Mortgage Loan had a Loan-to-Value Ratio at the time of origination of
more than 100%;
	As of the Closing Date, the Seller has not received a notice of default of a
First Lien which has not been cured; 
	No First Lien provides for negative amortization;
	 None of the Mortgage Loans are classified as (a) a "high
cost" loan under the Home Ownership and Equity Protection Act of 1994 or
(b) a "high cost," "threshold," "covered," or
"predatory" loan under any other applicable state, federal or local
law; 
	None of the proceeds of the Mortgage Loan were used to finance single-
premium credit insurance policies; 
	With respect to any Mortgage Loan which is a Texas Home Equity Loan, any
and all requirements of Section 50, Article XVI of the Texas Constitution
applicable to Texas Home Equity Loans which were in effect at the time of the
origination of the Mortgage Loan have been complied with.  Specifically, without
limiting the generality of the foregoing,

(a)all fees paid by the owner of the Mortgaged Property or such owner's
spouse, to any person, that were necessary to originate, evaluate, maintain,
record, insure or service the Mortgage Loan are reflected in the closing
statement for such Mortgage Loan;

(b)the Mortgage Loan was closed only at the office of the mortgage
lender, an attorney at law, or a title company;

(c)the mortgagee has not been found by a federal regulatory agency to
have engaged in the practice of refusing to make loans because the applicants
for the loans reside or the property proposed to secure the loans is located in
a certain area;

(d)the owner of the Mortgaged Property was not required to apply the
proceeds of the Mortgage Loan to repay another debt except debt secured by the
Mortgaged Property or debt to a lender other than the mortgagee;

(e)the owner of the Mortgaged Property did not sign any documents or
instruments relating to the Loan in which blanks were left to be filled in;
and

(f)if discussions between the mortgagee and the Mortgagor were conducted
primarily in a language other than English, the mortgagee provided to the owner
of the Mortgaged Property, prior to closing, a copy of the notice required by
Section 50(g), Article XVI of the Texas Constitution translated into the written
language in which the discussions were conducted.

All notices, acknowledgments and disclosure statements required by Section
50, Article XVI of the Texas Constitution applicable to Texas Home Equity Loans
are contained in the Mortgage File for each such Mortgage Loan; 

(mmm)  With respect to each Mortgage Loan, the Seller shall have obtained
either (i) a life of loan transferable real estate tax service contract with a
company reasonably acceptable to the Purchaser and shall assign such contract to
the Purchaser or its designee or (ii) the Seller shall reimburse to the
Purchaser or its designee the cost of obtaining such contract; and

(nnn)  No Mortgage Loan which was originated on or
after October 1, 2002 and is secured by a Mortgaged Property located in the
State of Georgia has an original principal balance that is less than or equal to
the applicable conforming loan limit established by Fannie Mae (as of the
related origination date).

	Repurchase; Substitution.

It is understood and agreed that the representations and warranties set forth
in Sections 3.01 and 3.02 shall survive the sale of the Mortgage Loans, delivery
of the Mortgage File to the Purchaser, or its designee, and transfer of the
servicing rights associated with such Mortgage Loans, and shall inure to the
benefit of the Purchaser, notwithstanding any restrictive or qualified
endorsement on any Mortgage Note or Assignment or the examination, or lack of
examination, of any Mortgage Loan Document.  Upon discovery by the Seller, the
Servicer or the Purchaser of a breach of any of the foregoing representations
and warranties which materially and adversely affects the value of the Mortgage
Loans or the interest of the Purchaser in any Mortgage Loan, the party
discovering such breach shall give prompt written notice to the others.  With
respect to the representations and warranties which are made to the best of the
Seller's knowledge, if it is discovered by the Seller, the Servicer or the
Purchaser 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 interests of the Purchaser therein, notwithstanding such
Seller's lack of knowledge with respect to the substance of such representation
or warranty, such inaccuracy shall be deemed a breach of the applicable
representation or warranty.  The Seller shall have a period of sixty (60) days
from the earlier of its discovery or its receipt of notice of any such breach
within which to correct or cure such breach.  The Seller hereby covenants and
agrees that if any such breach is not corrected or cured within such sixty (60)
day period, the Seller shall, at the Purchaser's option and not later than the
next Determination Date either repurchase such Mortgage Loan at the Repurchase
Price or substitute a mortgage loan for the Defective Mortgage Loan as provided
below.  In the event that any such breach shall involve any representation or
warranty set forth in Section 3.01, and such breach is not cured within sixty
days of the earlier of either discovery by or notice to the Seller of such
breach, all Mortgage Loans shall, at the option of the Purchaser, be repurchased
by the Seller at the Repurchase Price.  Any such repurchase shall be
accomplished by deposit in the Custodial Account of the amount of the Repurchase
Price.

If pursuant to the foregoing provisions the Seller repurchases a Mortgage
Loan that is a MERS Mortgage Loan, the Servicer shall either (i) cause MERS to
execute and deliver an assignment of the Mortgage in recordable form to transfer
the Mortgage from MERS to the Seller and shall cause such Mortgage to be removed
from registration on the MERS® System in accordance with MERS' rules and
regulations or (ii) cause MERS to designate on the MERS® System the Seller
as the beneficial holder of such Mortgage Loan.

If the Seller is required to repurchase any Mortgage Loan pursuant to this
Section 3.03 as a result of a breach of any of the representations and
warranties set forth in Section 3.02, the Seller may, with the Purchaser's prior
consent, which consent shall not be unreasonably withheld, within two (2) years
from the Closing Date, remove such defective Mortgage Loan from the terms of
this Agreement and substitute another mortgage loan for such defective Mortgage
Loan, in lieu of repurchasing such defective Mortgage Loan.  Any substitute
Mortgage Loan shall (a) have a principal balance at the time of substitution not
in excess of the principal balance of the defective Mortgage Loan (the amount of
any difference, plus one month's interest thereon at the Mortgage Interest Rate
borne by the defective Mortgage Loan, being paid by the Seller and deemed to be
a Principal Prepayment to be deposited by the Seller in the Custodial Account),
(b) have a Mortgage Interest Rate not less than, and not more than one
percentage point greater than, the Mortgage Interest Rate of the removed
Mortgage Loan, (c) have a remaining term to stated maturity not later than, and
not more than one year less than, the remaining term to stated maturity of the
removed Mortgage Loan, (d) be, in the reasonable determination of the Purchaser,
of the same type, quality and character (including location of the Mortgaged
Property) as the removed Mortgage Loan as if the breach had not occurred, (e)
have a Loan-to-Value Ratio at origination no greater than that of the removed
Mortgage Loan, (f) with respect to any second lien Mortgage Loan, have an Equity
Loan-to-Value Ratio at origination no greater than that of the removed Mortgage
Loan, (g) have the same lien priority as that of the removed Mortgage Loan and
(h) be, in the reasonable determination of the Purchaser, in material compliance
with the representations and warranties contained in this Agreement and
described in Section 3.02 as of the date of substitution.

The Seller shall amend the Mortgage Loan Schedule to reflect the withdrawal
of the removed Mortgage Loan from this Agreement and the substitution of such
substitute Mortgage Loan therefor.  Upon such amendment, the Purchaser shall
review the Mortgage File delivered to it relating to the substitute Mortgage
Loan.  The Monthly Payment on a substitute Mortgage Loan due on the Due Date in
the month of substitution shall be the property of the Seller and the Monthly
Payment on the Defective Mortgage Loan for which the substitution is made due on
the such date shall be the property of the Purchaser.

It is understood and agreed that the obligation of the Seller set forth in
this Section 3.03 to cure, repurchase or substitute for a defective Mortgage
Loan, and to indemnify Purchaser pursuant to Section 8.01, constitutes the sole
remedies of the Purchaser respecting a breach of the foregoing representations
and warranties.  If the Seller fails to repurchase or substitute for a defective
Mortgage Loan in accordance with this Section 3.03, or fails to cure a defective
Mortgage Loan to Purchaser's reasonable satisfaction in accordance with this
Section 3.03, or to indemnify Purchaser pursuant to Section 8.01, that failure
shall, upon compliance by the Purchaser with the next to the last paragraph of
this Section 3.03, be an Event of Default and the Purchaser shall be entitled to
pursue all available remedies.  No provision of this paragraph shall affect the
rights of the Purchaser to terminate this Agreement for cause, as set forth in
Sections 9.01 and 10.01.

Any cause of action against the Seller relating to or arising out of the
breach of any representations and warranties made in Sections 3.01 and 3.02
shall accrue as to any Mortgage Loan upon (i) the earlier of discovery of such
breach by the Seller or notice thereof by the Purchaser to the Seller, (ii)
failure by the Seller to cure such breach or repurchase such Mortgage Loan as
specified above, and (iii) demand upon the Seller by the Purchaser for
compliance with this Agreement.

In the event that any Mortgage Loan is held by a REMIC, notwithstanding any
contrary provision of this Agreement, with respect to any Mortgage Loan that is
not in default or as to which no default is imminent, Purchaser may, in
connection with any repurchase or substitution of a Defective Mortgage Loan
pursuant to this Section 3.03, require that the Seller deliver, at the Seller's
expense, an Opinion of Counsel to the effect that such repurchase or
substitution will not (i) result in the imposition of taxes on "prohibited
transactions" of such REMIC (as defined in Section 860F of the Code) or
otherwise subject the REMIC to tax, or (ii) cause the REMIC to fail to qualify
as a REMIC at any time.

	Repurchase of Convertible Mortgage
Loans.

In the event the Mortgagor under any Convertible Mortgage Loan elects to
convert said Mortgage Note to a fixed interest rate Mortgage Note, as provided
in said Mortgage Note, then the Seller shall, prior to the effective date of
said conversion, repurchase such Convertible Mortgage Loan from the Purchaser in
accordance with Section 3.03 hereof.

	Repurchase of Mortgage Loans With Early Payment
Defaults.

If (a) a Mortgagor is thirty (30) days or more delinquent with respect to any
of the first three (3) Monthly Payments due to the Purchaser on the related
Mortgage Loan immediately following the applicable Closing Date or (b) a
Mortgage Loan is in bankruptcy or litigation within the first three (3) months
immediately following the applicable Closing Date, the Seller, at the
Purchaser's option, shall promptly repurchase such Mortgage Loan from the
Purchaser within five (5) Business Days' of receipt of written notice from the
Purchaser, in accordance with the procedures set forth in Section 3.03 hereof,
however, any such repurchase shall be made at the Repurchase Price.

	Purchase Price Protection.

With respect to any first lien Mortgage Loan that prepays in full during the
three (3) month period from and after the Closing Date, the Seller shall
reimburse the Purchaser an amount equal to (a) the amount (if any) by which the
Purchase Price paid by the Purchaser to the Seller exceeded 100% of the
outstanding scheduled principal balance of the Mortgage Loan as of the Cut-off
Date, minus (b) the amount of any legally enforceable Prepayment Penalty with
respect to such Mortgage Loan, within thirty (30) days of such payoff.  With
respect to any second lien Mortgage Loan that prepays in full during the twelve
(12) month period from and after the Closing Date, the Seller shall reimburse
the Purchaser an amount equal to (a) the amount, if any, by which the Purchase
Price paid by the Purchaser to the Seller exceeded 100% of the outstanding
scheduled principal balance of the Mortgage Loan as of the Cut-off Date times
(b) a fraction, the numerator of which is equal to the number of months
remaining from the date of prepayment in full until one year from the related
Closing Date and the denominator of which is twelve (12), minus (c) the amount
of any legally enforceable Prepayment Penalty with respect to such Mortgage
Loan, within thirty (30) days of such payoff.   Notwithstanding anything to the
contrary contained in this Section 3.06, the Seller shall have no obligation to
remit any amount to the Purchaser pursuant to the first or second sentence of
this Section 3.06 if the related Mortgage Loan was refinanced by the Purchaser.
Upon any assignment of a Mortgage Loan and/or this Agreement, the Purchaser may
at its option retain its rights under this Section 3.06 notwithstanding such
assignment.

ARTICLE IV

ADMINISTRATION AND SERVICING
OF THE MORTGAGE LOANS DURING THE INTERIM SERVICING PERIOD

	The Servicer to Act as Servicer.

The Servicer, as independent contract servicer, shall service and administer
the Mortgage Loans in accordance with this Agreement and with Accepted Servicing
Practices, and shall have full power and authority, acting alone, to do or cause
to be done any and all things in connection with such servicing and
administration which the Servicer may deem necessary or desirable and consistent
with the terms of this Agreement and with Accepted Servicing Practices. The
Servicer shall service and administer the Mortgage Loans through the exercise of
the same care that it customarily employs for its own account.  Except as set
forth in this Agreement, the Servicer shall service the Mortgage Loans in strict
compliance with the servicing provisions of the Fannie Mae Guides (special
servicing option), which include, but are not limited to, provisions regarding
the liquidation of Mortgage Loans, the collection of Mortgage Loan payments, the
payment of taxes, insurance and other charges, the maintenance of hazard
insurance with a Qualified Insurer, the maintenance of mortgage impairment
insurance, the maintenance of fidelity bond and errors and omissions insurance,
inspections, the restoration of Mortgaged Property, the maintenance of Primary
Mortgage Insurance Policies, insurance claims, the title, management of REO
Property, permitted withdrawals with respect to REO Property, liquidation
reports, and reports of foreclosures and abandonments of Mortgaged Property, the
transfer of Mortgaged Property, the release of Mortgage Files, annual
statements, and examination of records and facilities.  In the event of any
conflict, inconsistency or discrepancy between any of the servicing provisions
of this Agreement and any of the servicing provisions of the Fannie Mae Guides,
the provisions of this Agreement shall control and be binding upon the Purchaser
and the Servicer. 

Consistent with the terms of this Agreement, the Servicer may waive, modify
or vary any term of any Mortgage Loan or consent to the postponement of any such
term or in any manner grant indulgence to any Mortgagor if in the Servicer's
reasonable and prudent determination such waiver, modification, postponement or
indulgence is not materially adverse to the Purchaser, provided, however, that
unless the Servicer has obtained the prior written consent of the Purchaser, the
Servicer shall not permit any modification with respect to any Mortgage Loan
that would change the Mortgage Interest Rate, forgive the payment of principal
or interest, reduce or increase the outstanding principal balance (except for
actual payments of principal) or change the final maturity date on such Mortgage
Loan.  In the event of any such modification which has been agreed to in writing
by the Purchaser and which permits the deferral of interest or principal
payments on any Mortgage Loan, the Servicer shall, on the Business Day
immediately preceding the Remittance Date in any month in which any such
principal or interest payment has been deferred, deposit in the Custodial
Account from its own funds, in accordance with Section 4.04, the difference
between (a) the otherwise scheduled Monthly Payment and (b) the amount paid by
the Mortgagor.  The Servicer shall be entitled to reimbursement for such
advances to the same extent as for all other advances pursuant to Section 4.05.
Without limiting the generality of the foregoing, the Servicer shall continue,
and is hereby authorized and empowered, to prepare, execute and deliver, all
instruments of satisfaction or cancellation, or of partial or full release,
discharge and all other comparable instruments, with respect to the Mortgage
Loans and with respect to the Mortgaged Properties. Notwithstanding anything
herein to the contrary, the Servicer may not enter into a forbearance agreement
or similar arrangement with respect to any Mortgage Loan which runs more than
180 days after the first delinquent Due Date.  Any such agreement shall be
approved by any applicable holder of a Primary Mortgage Insurance Policy, if
required.

The Servicer is authorized and empowered by the Purchaser, in its own name,
when the Servicer believes it appropriate in its reasonable judgment to register
any Mortgage Loan on the MERS® System, or cause the removal from the
registration of any Mortgage Loan on the MERS® System, to execute and
deliver, on behalf of the Purchaser, any and all instruments of assignment and
other comparable instruments with respect to such assignment or re-recording of
a Mortgage in the name of MERS, solely as nominee for the Purchaser and its
successors and assigns.

Unless a different time period is stated in this Agreement, the Purchaser
shall be deemed to have given consent in connection with a particular matter if
the Purchaser does not affirmatively grant or deny consent within five (5)
Business Days from the date the Purchaser receives a second written request for
consent for such matter from the Servicer.

The Servicer shall accurately and fully report its borrower credit files
related to the Mortgage Loans to Equifax, Transunion and Experian in a timely
manner.

	Collection of Mortgage Loan
Payments.

Continuously from the date hereof until the date each Mortgage Loan ceases to
be serviced subject to this Agreement, the Servicer will proceed diligently to
collect all payments due under each Mortgage Loan when the same shall become due
and payable and shall, to the extent such procedures shall be consistent with
this Agreement, Accepted Servicing Practices, and the terms and provisions of
related Primary Mortgage Insurance Policy or LPMI Policy, follow such collection
procedures as it follows with respect to mortgage loans comparable to the
Mortgage Loans and held for its own account.  Further, the Servicer will take
special care in ascertaining and estimating annual escrow payments, and all
other charges that, as provided in the Mortgage, will become due and payable, so
that the installments payable by the Mortgagors will be sufficient to pay such
charges as and when they become due and payable.

	Realization Upon Defaulted Mortgage
Loans. 

The Servicer shall use its best efforts, consistent with the procedures that
the Servicer would use in servicing loans for its own account, consistent with
Accepted Servicing Practices, any Primary Mortgage Insurance or LPMI Policies
and the best interest of Purchaser, to foreclose upon or otherwise comparably
convert the ownership of properties securing such of the Mortgage Loans as come
into and continue in default and as to which no satisfactory arrangements can be
made for collection of delinquent payments pursuant to Section 4.01.
Foreclosure or comparable proceedings shall be initiated within one hundred
twenty (120) days of default for Mortgaged Properties for which no satisfactory
arrangements can be made for collection of delinquent payments.  The Servicer
shall use its best efforts to realize upon defaulted Mortgage Loans in such
manner as will maximize the receipt of principal and interest by the Purchaser,
taking into account, among other things, the timing of foreclosure proceedings.
The foregoing is subject to the provisions that, in any case in which the
Mortgaged Property shall have suffered damage, the Servicer shall not be
required to expend its own funds toward the restoration of such property unless
it shall determine in its discretion (i) that such restoration will increase the
proceeds of liquidation of the related Mortgage Loan to the Purchaser after
reimbursement to itself for such expenses, and (ii) that such expenses will be
recoverable by the Servicer through Insurance Proceeds or Liquidation Proceeds
from the related Mortgaged Property, as contemplated in Section 4.05.  The
Servicer shall obtain prior approval of Purchaser as to restoration expenses in
excess of one thousand dollars ($1,000).  The Servicer shall notify the
Purchaser in writing of the commencement of foreclosure proceedings and prior to
the acceptance or rejection of any offer of reinstatement. The Servicer shall be
responsible for all costs and expenses incurred by it in any such proceedings or
functions; provided, however, that it shall be entitled to reimbursement thereof
from the related property, as contemplated in Section 4.05.  Notwithstanding
anything to the contrary contained herein, in connection with a foreclosure or
acceptance of a deed in lieu of foreclosure, in the event the Servicer has
reasonable cause to believe that a Mortgaged Property is contaminated by
hazardous or toxic substances or wastes, or if the Purchaser otherwise requests
an environmental inspection or review of such Mortgaged Property, such an
inspection or review is to be conducted by a qualified inspector at the
Purchaser's expense.  Upon completion of the inspection, the Servicer shall
promptly provide the Purchaser with a written report of the environmental
inspection.  After reviewing the environmental inspection report, the Purchaser
shall determine how the Servicer shall proceed with respect to the Mortgaged
Property.

In the event that a Mortgage Loan becomes part of a REMIC, and becomes REO
Property, such property shall be disposed of by the Servicer, with the consent
of the Purchaser as required pursuant to this Agreement, within three (3) years
after becoming an REO Property, unless the Servicer provides to the trustee
under such REMIC an opinion of counsel to the effect that the holding of such
REO Property subsequent to three years after its becoming REO Property, will not
result in the imposition of taxes on "prohibited transactions" as
defined in Section 860F of the Code, or cause the transaction to fail to qualify
as a REMIC at any time that certificates are outstanding.  The Servicer shall
manage, conserve, protect and operate each such REO Property for the
certificateholders solely for the purpose of its prompt disposition and sale in
a manner which does not cause such property to fail to qualify as
"foreclosure property" within the meaning of Section 860G(a)(8) of the
Code, or any "net income from foreclosure property" which is subject
to taxation under the REMIC provisions of the Code.  Pursuant to its efforts to
sell such property, the Servicer shall either itself or through an agent
selected by the Servicer, protect and conserve such property in the same manner
and to such an extent as is customary in the locality where such property is
located.  Additionally, the Servicer shall perform the tax withholding and
reporting related to Sections 1445 and 6050J of the Code.

	Establishment of Custodial Accounts; Deposits in
Custodial Accounts. 

The Seller shall segregate and hold all funds collected and received pursuant
to each Mortgage Loan separate and apart from any of its own funds and general
assets and shall establish and maintain one or more Custodial Accounts.  Each
Custodial Account shall be an Eligible Account. Funds deposited in a Custodial
Account may be drawn on in accordance with Section 4.05.  The creation of any
Custodial Account shall be evidenced by a letter agreement in the form shown in
Exhibit B hereto.  The original of such letter agreement shall be
furnished to the Purchaser on the Closing Date, and upon the request of any
subsequent purchaser.

The Seller shall deposit in the Custodial Account on a daily basis, and
retain therein the following payments and collections received or made by it
subsequent to the Cut-off Date, or received by it prior to the Cut-off Date but
allocable to a period subsequent thereto, other than in respect of principal and
interest on the Mortgage Loans due on or before the Cut-off Date:

	all payments on account of principal, including Principal Prepayments, on
the Mortgage Loans;
	all payments on account of interest on the Mortgage Loans adjusted to the
Mortgage Interest Rate;
	all Liquidation Proceeds;
	any amounts required to be deposited by the Servicer in connection with any
REO Property pursuant to Section 4.13;
	all Insurance Proceeds including amounts required to be deposited pursuant
to Sections 4.08, 4.10 and 4.11, other than proceeds to be held in the Escrow
Account and applied to the restoration or repair of the Mortgaged Property or
released to the Mortgagor in accordance with Accepted Servicing Practices, the
loan documents or applicable law;
	all Condemnation Proceeds affecting any Mortgaged Property which are not
released to the Mortgagor in accordance with the Seller's normal servicing
procedures, the loan documents or applicable law;
	any Monthly Advances;
	all proceeds of any Mortgage Loan repurchased in accordance with Sections
3.03, 3.04 and 3.05;
	any amounts required to be deposited by the Servicer pursuant to Section
4.11 in connection with the deductible clause in any blanket hazard insurance
policy, such deposit shall be made from the Servicer's own funds, without
reimbursement therefor; and
	any amounts required to be deposited in the Custodial Account pursuant to
Section 4.01 or Section 6.02.

The foregoing requirements for deposit in the Custodial Account shall be
exclusive, it being understood and agreed that, without limiting the generality
of the foregoing, payments in the nature of late payment charges and assumption
fees, to the extent permitted by Section 6.01, need not be deposited by the
Seller in the Custodial Account.  Any interest paid on funds deposited in the
Custodial Account by the depository institution shall accrue to the benefit of
the Servicer and the Servicer shall be entitled to retain and withdraw such
interest from the Custodial Account pursuant to Section 4.05(iv).

	Permitted Withdrawals From the Custodial
Account.

The Servicer may, from time to time, withdraw from the Custodial Account for
the following purposes:

	to make payments to the Purchaser in the amounts and in the manner provided
for in Section 5.01;
	to reimburse itself for Monthly Advances, the Servicer's right to reimburse
itself pursuant to this subclause (ii) being limited to amounts received on the
related Mortgage Loan which represent late collections (net of the related
Interim Servicing Fee) of principal and/or interest respecting which any such
advance was made, it being understood that, in the case of such reimbursement,
the Servicer's right thereto shall be prior to the rights of the Purchaser,
except that, where the Servicer is required to repurchase a Mortgage Loan,
pursuant to Section 3.03, 3.04 or 3.05, the Servicer's right to such
reimbursement shall be subsequent to the payment to the Purchaser of the
Repurchase Price pursuant to such Section and all other amounts required to be
paid to the Purchaser with respect to such Mortgage Loan;
	to reimburse itself for unreimbursed Servicing Advances and any unpaid
Interim Servicing Fees, the Servicer's right to reimburse itself pursuant to
this subclause (iii) with respect to any Mortgage Loan being limited to related
proceeds from Liquidation Proceeds, Condemnation Proceeds and Insurance
Proceeds;  
	to pay to itself as part of its servicing compensation: (a) any interest
earned on funds in the Custodial Account (all such interest to be withdrawn
monthly not later than each Remittance Date), and (b) the Interim Servicing Fee
from that portion of any payment or recovery as to interest with respect to a
particular Mortgage Loan;
	to pay to itself with respect to each Mortgage Loan that has been
repurchased pursuant to Section 3.03, 3.04 or 3.05 all amounts received thereon
and not distributed as of the date on which the related Repurchase Price is
determined;
	to reimburse itself for unreimbursed Monthly Advances and Servicing Advances
to the extent not fully reimbursed pursuant to Section 4.05(ii) or (iii)
above;
	to transfer funds to another Eligible Account in accordance with Section
4.09 hereof;
	to make payments in respect of the premiums due, if any, on the LPMI
Policies, if applicable;
	to remove funds inadvertently placed in the Custodial Account by the
Servicer; and
	to clear and terminate the Custodial Account upon the termination of this
Agreement.

	Establishment of Escrow Accounts; Deposits in
Accounts.

The Servicer shall segregate and hold all funds collected and received
pursuant to each Mortgage Loan which constitute Escrow Payments separate and
apart from any of its own funds and general assets and shall establish and
maintain one or more Escrow Accounts.  Each Escrow Account shall be an Eligible
Account.  Funds deposited in the Escrow Account may be drawn on by the Servicer
in accordance with Section 4.07.  The creation of any Escrow Account shall be
evidenced by a letter agreement in the form shown in Exhibit C.  The
original of such letter agreement shall be furnished to the Purchaser on the
Closing Date, and upon request to any subsequent purchaser.

The Servicer shall deposit in the Escrow Account or Accounts on a daily
basis, and retain therein:

	all Escrow Payments collected on account of the Mortgage Loans, for the
purpose of effecting timely payment of any such items as required under the
terms of this Agreement;
	all Insurance Proceeds which are to be applied to the restoration or repair
of any Mortgaged Property; and
	all Servicing Advances for Mortgagors whose Escrow Payments are insufficient
to cover escrow disbursements.

The Servicer shall make withdrawals from the Escrow Account only to effect
such payments as are required under this Agreement, and for such other purposes
as shall be as set forth or in accordance with Section 4.07.  The Servicer shall
be entitled to retain any interest paid on funds deposited in an Escrow Account
by the depository institution other than interest on escrowed funds required by
law to be paid to the Mortgagor and, to the extent required by law, the Servicer
shall pay interest on escrowed funds to the Mortgagor notwithstanding that such
Escrow Account is non-interest bearing or that interest paid thereon is
insufficient for such purposes.

	Permitted Withdrawals From the Escrow
Account. 

Withdrawals from the Escrow Account may be made by the Servicer only:

	to effect timely payments of ground rents, taxes, assessments, water rates,
Primary Mortgage Insurance Policy premiums, if applicable, fire and hazard
insurance premiums, condominium assessments and comparable items;
	to reimburse the Servicer for any Servicing Advance made by the Servicer
with respect to a related Mortgage Loan but only from amounts received on the
related Mortgage Loan which represent late payments or collections of Escrow
Payments thereunder;
	to refund to the Mortgagor any funds as may be determined to be
overages;
	for transfer to the Custodial Account in accordance with the terms of this
Agreement;
	for application to restoration or repair of the Mortgaged Property;
	to pay to the Servicer, or to the Mortgagor to the extent required by law,
any interest paid on the funds deposited in the Escrow Account;
	to clear and terminate the Escrow Account on the termination of this
Agreement;
	to pay to the Mortgagors or other parties Insurance Proceeds deposited in
accordance with Section 4.06; and
	to remove funds inadvertently placed in the Escrow Account by the
Servicer.

	Payment of Taxes, Insurance and Charges;
Maintenance of Primary Mortgage Insurance or LPMI Policies; Collections
Thereunder.

With respect to each Mortgage Loan, the Servicer shall maintain accurate
records reflecting the status of ground rents, taxes, assessments, water rates
and other charges which are or may become a lien upon the Mortgaged Property and
the status of primary mortgage insurance premiums and fire and hazard insurance
coverage and shall obtain, from time to time, all bills for the payment of such
charges, including renewal premiums and shall effect payment thereof prior to
the applicable penalty or termination date and at a time appropriate for
securing maximum discounts allowable, employing for such purpose deposits of the
Mortgagor in the Escrow Account which shall have been estimated and accumulated
by the Servicer in amounts sufficient for such purposes, as allowed under the
terms of the Mortgage or applicable law.  To the extent that the Mortgage does
not provide for Escrow Payments, the Servicer shall determine that any such
payments are made by the Mortgagor at the time they first become due.  The
Servicer assumes full responsibility for the timely payment of all such bills
and shall effect timely payments of all such bills irrespective of the
Mortgagor's faithful performance in the payment of same or the making of the
Escrow Payments and shall make advances from its own funds to effect such
payments.

The Servicer will maintain in full force and effect Primary Mortgage
Insurance Policies issued by a Qualified Insurer with respect to each first lien
Mortgage Loan for which such coverage is herein required.  Such coverage will be
maintained until the Loan-to-Value ratio of the related Mortgage Loan is reduced
to 80% or less in the case of a first lien Mortgage Loan having a Loan-to-Value
Ratio at origination in excess of 80% or as required by state or federal law.
The Servicer will not cancel or refuse to renew any Primary Mortgage Insurance
Policy in effect on the Closing Date that is required to be kept in force under
this Agreement unless a replacement Primary Mortgage Insurance Policy for such
canceled or non-renewed policy is obtained from and maintained with a Qualified
Insurer.  The Servicer shall not take any action which would result in non-
coverage under any applicable Primary Mortgage Insurance Policy of any loss
which, but for the actions of the Servicer would have been covered thereunder.
In connection with any assumption or substitution agreement entered into or to
be entered into pursuant to Section 6.01, the Servicer shall promptly notify the
insurer under the related Primary Mortgage Insurance Policy, if any, of such
assumption or substitution of liability in accordance with the terms of such
policy and shall take all actions which may be required by such insurer as a
condition to the continuation of coverage under the Primary Mortgage Insurance
Policy.  If such Primary Mortgage Insurance Policy is terminated as a result of
such assumption or substitution of liability, the Servicer shall obtain a
replacement Primary Mortgage Insurance Policy as provided above.

In connection with its activities as servicer, the Servicer agrees to prepare
and present, on behalf of itself and the Purchaser, claims to the insurer under
any Primary Mortgage Insurance Policy or LPMI Policy in a timely fashion in
accordance with the terms of such Primary Mortgage Insurance Policy or LPMI
Policy and, in this regard, to take such action as shall be necessary to permit
recovery under any Primary Mortgage Insurance Policy or LPMI Policy respecting a
defaulted first lien Mortgage Loan.  Pursuant to Section 4.04, any amounts
collected by the Servicer under any Primary Mortgage Insurance Policy or LPMI
Policy shall be deposited in the Custodial Account, subject to withdrawal
pursuant to Section 4.05.

	Transfer of Accounts.

The Servicer may transfer a Custodial Account or an Escrow Account to a
different Eligible Account from time to time.  Such transfer shall be made only
upon obtaining the prior written consent of the Purchaser, which consent will
not be unreasonably withheld.

	Maintenance of Hazard Insurance.

The Servicer shall cause to be maintained for each Mortgage Loan fire and
hazard insurance with extended coverage as is acceptable to Fannie Mae and
Freddie Mac and customary in the area where the Mortgaged Property is located in
an amount which is equal to the lesser of (i) the maximum insurable value of the
improvements securing such Mortgage Loan and (ii) the greater of (a) the
outstanding principal balance of the Mortgage Loan, and (b) an amount such that
the proceeds thereof shall be sufficient to prevent the Mortgagor and/or the
mortgagee from becoming a co-insurer. If required by the Flood Disaster
Protection Act of 1973, as amended, each Mortgage Loan shall be covered by a
flood insurance policy meeting the requirements of the current guidelines of the
Federal Insurance Administration in effect with an insurance carrier acceptable
to Fannie Mae and/or Freddie Mac, in an amount representing coverage not less
than the least of (i) the outstanding principal balance of the Mortgage Loan,
(ii) the maximum insurable value of the improvements securing such Mortgage Loan
and (iii) the maximum amount of insurance which is available under the Flood
Disaster Protection Act of 1973, as amended.  If at any time during the term of
the Mortgage Loan, the Servicer determines in accordance with applicable law and
pursuant to the Fannie Mae Guides that a Mortgaged Property is located in a
special flood hazard area and is not covered by flood insurance or is covered in
an amount less than the amount required by the Flood Disaster Protection Act of
1973, as amended, the Servicer shall notify the related Mortgagor that the
Mortgagor must obtain such flood insurance coverage, and if said Mortgagor fails
to obtain the required flood insurance coverage within forty-five (45) days
after such notification, the Servicer shall immediately force place the required
flood insurance on the Mortgagor's behalf. The Servicer shall also maintain on
each REO Property, fire and hazard insurance with extended coverage in an amount
which is at least equal to the maximum insurable value of the improvements which
are a part of such property, and, to the extent required and available under the
Flood Disaster Protection Act of 1973, as amended, flood insurance in an amount
as provided above.  Any amounts collected by the Servicer under any such
policies other than amounts to be deposited in the Escrow Account and applied to
the restoration or repair of the Mortgaged Property or REO Property, or released
to the Mortgagor in accordance with Accepted Servicing Practices, shall be
deposited in the Custodial Account, subject to withdrawal pursuant to Section
4.05.  It is understood and agreed that no other additional insurance need be
required by the Servicer or maintained on property acquired in respect of the
Mortgage Loan, other than pursuant to this Agreement, the Fannie Mae Guides or
such applicable state or federal laws and regulations as shall at any time be in
force and as shall require such additional insurance.  All such policies shall
be endorsed with standard mortgagee clauses with loss payable to the Servicer
and its successors and/or assigns and shall provide for at least thirty days
prior written notice of any cancellation, reduction in the amount or material
change in coverage to the Servicer.  The Servicer shall not interfere with the
Mortgagor's freedom of choice in selecting either his insurance carrier or
agent, provided, however, that the Servicer shall not accept any such insurance
policies from insurance companies unless such companies are Qualified
Insurers.

	Maintenance of Mortgage Impairment Insurance
Policy.

In the event that the Servicer shall obtain and maintain a blanket policy
issued by an issuer acceptable to Fannie Mae and/or Freddie Mac insuring against
hazard losses on all of the Mortgage Loans, then, to the extent such policy
provides coverage in an amount equal to the amount required pursuant to Section
4.10 and otherwise complies with all other requirements of Section 4.10, it
shall conclusively be deemed to have satisfied its obligations as set forth in
Section 4.10, it being understood and agreed that such policy may contain a
deductible clause, in which case the Servicer shall, in the event that there
shall not have been maintained on the related Mortgaged Property or REO Property
a policy complying with Section 4.10, and there shall have been a loss which
would have been covered by such policy, deposit in the Custodial Account the
amount not otherwise payable under the blanket policy because of such deductible
clause.  In connection with its activities as servicer of the Mortgage Loans,
the Servicer agrees to prepare and present, on behalf of the Purchaser, claims
under any such blanket policy in a timely fashion in accordance with the terms
of such policy.  Upon request of the Purchaser, the Servicer shall cause to be
delivered to the Purchaser a certified true copy of such policy and shall use
its best efforts to obtain a statement from the insurer thereunder that such
policy shall in no event be terminated or materially modified without thirty
(30) days' prior written notice to the Purchaser.

	Maintenance of Fidelity Bond and Errors and
Omissions Insurance.

The Servicer shall maintain, at its own expense, a blanket fidelity bond and
an errors and omissions insurance policy, with broad coverage with responsible
companies on all officers, employees or other persons acting in any capacity
with regard to the Mortgage Loans to handle funds, money, documents and papers
relating to the Mortgage Loans.  The Fidelity Bond shall be in the form of a
mortgage banker's blanket bond and shall protect and insure the Servicer against
losses, including forgery, theft, embezzlement and fraud of such persons.  The
errors and omissions insurance shall protect and insure the Servicer against
losses arising out of errors and omissions and negligent acts of such persons.
Such errors and omissions insurance shall also protect and insure the Servicer
against losses in connection with the failure to maintain any insurance
policies required pursuant to this Agreement and the release or satisfaction of
a Mortgage Loan without having obtained payment in full of the indebtedness
secured thereby.  No provision of this Section 4.12 requiring the Fidelity Bond
or errors and omissions insurance shall diminish or relieve the Servicer from
its duties and obligations as set forth in this Agreement.  The minimum coverage
under any such bond and insurance policy shall be at least equal to the
corresponding amounts required by Fannie Mae in the Fannie Mae Guides or by
Freddie Mac in the Freddie Mac Guides.  The Servicer shall deliver to the
Purchaser a certificate from the surety and the insurer as to the existence of
the Fidelity Bond and errors and omissions insurance policy and shall obtain a
statement from the surety and the insurer that such Fidelity Bond or insurance
policy shall in no event be terminated or materially modified without thirty
(30) days' prior written notice to the Purchaser.  The Seller shall notify the
Purchaser within five (5) business days of receipt of notice that such Fidelity
Bond or insurance policy will be, or has been, materially modified or
terminated.  The Purchaser (or any party having the status of Purchaser
hereunder) and any subsidiary thereof and their successors or assigns as their
interests may appear must be named as loss payees on the Fidelity Bond and as
additional insured on the errors and omissions policy.  Upon request by the
Purchaser, the Servicer shall provide the Purchaser with an insurance
certificate certifying coverage under this Section 4.12, and will provide an
update to such certificate upon request, or upon renewal or material
modification of coverage.

	Title, Management and Disposition of REO
Property.

In the event that title to the Mortgaged Property is acquired in foreclosure,
by deed in lieu of foreclosure or other method resulting in full or partial
satisfaction of the related Mortgage, the deed or certificate of sale shall be
taken in the name of the Purchaser or its designee, or in the event the
Purchaser or its designee is not authorized or permitted to hold title to real
property in the state where the REO Property is located, or would be adversely
affected under the "doing business" or tax laws of such state by so
holding title, the deed or certificate of sale shall be taken in the name of
such Person or Persons as shall be consistent with an opinion of counsel
obtained by the Servicer from an attorney duly licensed to practice law in the
state where the REO Property is located.  Any Person or Persons holding such
title other than the Purchaser shall acknowledge in writing that such title is
being held as nominee for the benefit of the Purchaser.

The Servicer shall notify the Purchaser in accordance with the Fannie Mae
Guides of each acquisition of REO Property upon such acquisition, together with
a copy of the drive by appraisal or brokers price opinion of the Mortgaged
Property obtained in connection with such acquisition, and thereafter assume the
responsibility for marketing such REO Property in accordance with Accepted
Servicing Practices.  Thereafter, the Servicer shall continue to provide certain
administrative services to the Purchaser relating to such REO Property as set
forth in this Section 4.13.

The Servicer shall, either itself or through an agent selected by the
Servicer, and in accordance with the Fannie Mae Guides manage, conserve, protect
and operate each REO Property in the same manner that it manages, conserves,
protects and operates other foreclosed property for its own account, and in the
same manner that similar property in the same locality as the REO Property is
managed.  The Servicer shall cause each REO Property to be inspected promptly
upon the acquisition of title thereto and shall cause each REO Property to be
inspected at least monthly thereafter or more frequently as required by the
circumstances.  The Servicer shall make or cause to be made a written report of
each such inspection.  Such reports shall be retained in the Servicing File and
copies thereof shall be forwarded by the Servicer to the Purchaser.

The Servicer shall use its best efforts to dispose of the REO Property as
soon as possible and shall sell such REO Property in any event within three (3)
years after title has been taken to such REO Property, unless the Servicer
determines, and gives an appropriate notice to the Purchaser to such effect,
that a longer period is necessary for the orderly liquidation of such REO
Property.  If a longer period than three (3) years is permitted under the
foregoing sentence and is necessary to sell any REO Property, the Servicer shall
report monthly to the Purchaser as to the progress being made in selling such
REO Property.  No REO Property shall be marketed for less than the appraised
value, without the prior consent of the Purchaser. No REO Property shall be sold
for less than ninety five percent (95%) of its appraised value, without the
prior consent of the Purchaser.  If as of the date title to any REO Property was
acquired by the Servicer there were outstanding unreimbursed Servicing Advances
with respect to the REO Property, the Servicer shall be entitled to immediate
reimbursement from the Purchaser for any related unreimbursed Servicing
Advances.  All requests for reimbursement of Servicing Advances shall be in
accordance with the Fannie Mae Guides.  The disposition of REO Property shall be
carried out by the Servicer at such price, and upon such terms and conditions,
as the Servicer deems to be in the best interests of the Purchaser.  The
Servicer shall provide monthly reports to Purchaser in reference to the status
of the marketing of the REO Properties.

Notwithstanding anything to the contrary contained herein, the Purchaser may,
at the Purchaser's sole option, terminate the Servicer as servicer of any such
REO Property without payment of any termination fee with respect thereto,
provided that the Servicer shall on the date said termination takes effect be
reimbursed by withdrawal from the Custodial Account for any unreimbursed Monthly
Advances of the Servicer's funds made pursuant to Section 5.03 and any
unreimbursed Servicing Advances in each case relating to the Mortgage Loan
underlying such REO Property notwithstanding anything to the contrary set forth
in Section 4.05.  In the event of any such termination, the provisions of
Section 11.02 hereof shall apply to said termination and the transfer of
servicing responsibilities with respect to such REO Property to the Purchaser or
its designee.

	Notification of Maturity Date.

With respect to each Mortgage Loan, the Servicer shall execute and deliver to
the Mortgagor any and all necessary notices required under applicable law and
the terms of the related Mortgage Note and Mortgage regarding the maturity date
if required under applicable law.

ARTICLE V

PAYMENTS TO THE
PURCHASER

	Distributions.

On each Remittance Date, the Servicer shall distribute by wire transfer to
the Purchaser (i) all amounts credited to the Custodial Account as of the
close of business on the preceding Determination Date, net of charges against or
withdrawals from the Custodial Account pursuant to Section 4.05, plus
(ii) all Monthly Advances, if any, which the Servicer is obligated to
distribute pursuant to Section 5.03, minus (iii) any amounts attributable
to Monthly Payments collected but due on a Due Date or Dates subsequent to the
preceding Determination Date, which amounts shall be remitted on the Remittance
Date next succeeding the Due Period for such amounts, and any Principal
Prepayments received during the month of such Remittance Date, which amounts
shall be remitted on the next succeeding Remittance Date.

With respect to any remittance received by the Purchaser after the Business
Day on which such payment was due, the Servicer shall pay to the Purchaser
interest on any such late payment at an annual rate equal to the Prime Rate,
adjusted as of the date of each change, plus three percentage points, but in no
event greater than the maximum amount permitted by applicable law.  Such
interest shall be deposited in the Custodial Account by the Servicer on the date
such late payment is made and shall cover the period commencing with the day
following the Business Day on which such payment was due and ending with the
Business Day on which such payment is made, both inclusive.  Such interest shall
be remitted along with the distribution payable on the next succeeding
Remittance Date. The payment by the Servicer of any such interest shall not be
deemed an extension of time for payment or a waiver of any Event of Default by
the Servicer.

	Statements to the Purchaser.

The Servicer shall furnish to the Purchaser an individual loan accounting
report, as of the last Business Day of each month, in the Servicer's assigned
loan number order to document Mortgage Loan payment activity on an individual
Mortgage Loan basis.  With respect to each month, the corresponding individual
loan accounting report shall be received by the Purchaser no later than the
fifth (5th) Business Day of the following month on a disk or tape or
other computer-readable format in such format as may be mutually agreed upon by
both the Purchaser and the Servicer and in hard copy, which report shall contain
the following:

	With respect to each Monthly Payment, the amount of such remittance
allocable to principal (including a separate breakdown of any Principal
Prepayment, including the date of such prepayment, and any Prepayment Penalties
or premiums, along with a detailed report of interest on principal prepayment
amounts remitted in accordance with Section 4.04);
	with respect to each Monthly Payment, the amount of such remittance
allocable to interest;
	the amount of servicing compensation received by the Servicer during the
prior distribution period;
	the aggregate Scheduled Principal Balance of the Mortgage Loans;
	the aggregate of any expenses reimbursed to the Servicer during the prior
distribution period pursuant to Section 4.05; 
	the number and aggregate outstanding principal balances of Mortgage Loans
(a) delinquent (1) 30 to 59 days, (2) 60 to 89 days, and
(3) 90 days or more; (b) as to which foreclosure has commenced; and
(c) as to which REO Property has been acquired; and

(vii)      the amount of any Monthly Advances.

The Servicer shall also provide a monthly servicing report, sorted in the
Purchaser's assigned loan number order, in the form of Exhibit E hereto,
with each such report.

The Servicer shall prepare and file any and all information statements or
other filings required to be delivered to any governmental taxing authority or
to the Purchaser pursuant to any applicable law with respect to the Mortgage
Loans and the transactions contemplated hereby.  In addition, the Servicer shall
provide the Purchaser with such information concerning the Mortgage Loans as is
necessary for the Purchaser to prepare its federal income tax return as the
Purchaser may reasonably request from time to time.

In addition, not more than sixty (60) days after the end of each calendar
year, the Servicer shall furnish to each Person who was a Purchaser at any time
during such calendar year an annual statement in accordance with the
requirements of applicable federal income tax law as to the aggregate of
remittances for the applicable portion of such year.

	Monthly Advances by the Servicer.

Not later than the close of business on the Business Day preceding each
Remittance Date, the Servicer shall deposit in the Custodial Account an amount
equal to all Monthly Payments, whether or not deferred pursuant to Section 4.01,
which were due on a Mortgage Loan on the immediately preceding Due Date and
delinquent at the close of business on the related Determination Date.

The Servicer's obligation to make such Monthly Advances as to any Mortgage
Loan will continue through the earliest to occur of: (a) the Servicing
Transfer Date; (b) the last Monthly Payment due prior to the payment in
full of the Mortgage Loan; or (c) through the Remittance Date prior to the date
on which the Mortgaged Property is liquidated, unless the Servicer deems such
advance to be non-recoverable.  In such event, the Servicer shall deliver to the
Purchaser an Officer's Certificate of the Servicer to the effect that an officer
of the Servicer has reviewed the related Servicing File and has made the
reasonable determination that any additional advances are non-recoverable.

	Liquidation Reports.

Upon the foreclosure sale of any Mortgaged Property or the acquisition
thereof by the Purchaser pursuant to a deed in lieu of foreclosure, the Servicer
shall submit to the Purchaser a liquidation report with respect to such
Mortgaged Property.  The Servicer shall also provide reports on the status of
REO Property containing such information as the Purchaser may reasonably
require.

ARTICLE VI

GENERAL SERVICING
PROCEDURES

	Assumption Agreements.

The Servicer shall, to the extent it has knowledge of any conveyance or
prospective conveyance by any Mortgagor of the Mortgaged Property (whether by
absolute conveyance or by contract of sale, and whether or not the Mortgagor
remains or is to remain liable under the Mortgage Note and/or the Mortgage),
exercise its rights to accelerate the maturity of such Mortgage Loan under any
"due-on-sale" clause to the extent permitted by law; provided,
however, that the Servicer shall not exercise any such rights if prohibited by
law or the terms of the Mortgage Note from doing so or if the exercise of such
rights would impair or threaten to impair any recovery under the related Primary
Mortgage Insurance Policy, if any.  If the Servicer reasonably believes it is
unable under applicable law to enforce such "due-on-sale" clause, the
Servicer, with the approval of the Purchaser (such approval not to be
unreasonably withheld), will enter into an assumption agreement with the person
to whom the Mortgaged Property has been conveyed or is proposed to be conveyed,
pursuant to which such person becomes liable under the Mortgage Note and, to the
extent permitted by applicable state law, the Mortgagor remains liable thereon.
If the Servicer is prohibited under applicable law from (a) entering into an
assumption agreement with the Person to whom the Mortgaged Property has been
conveyed or is proposed to be conveyed or (b) requiring the original Mortgagor
to remain liable under the Mortgage Note, the Servicer, with the prior consent
of the Purchaser and the primary mortgage insurer, if any, is authorized to
enter into a substitution of liability agreement with the person to whom the
Mortgaged Property has been conveyed or is proposed to be conveyed pursuant to
which the original Mortgagor is released from liability and such Person is
substituted as mortgagor and becomes liable under the related Mortgage Note.
Any such substitution of liability agreement shall be in lieu of an assumption
agreement.  The Purchaser shall be deemed to have consented to any assumption
for which the Purchaser was given notification and requested to consent, but for
which neither a consent nor an objection was given by the Purchaser within two
Business Days of such notification.  

In connection with any such assumption or substitution of liability, the
Servicer shall follow the underwriting practices and procedures of the Fannie
Mae Guides.  With respect to an assumption or substitution of liability, the
Mortgage Interest Rate borne by the related Mortgage Note and the amount of the
Monthly Payment may not be changed.  If the credit of the proposed transferee
does not meet such underwriting criteria, the Servicer diligently shall, to the
extent permitted by the Mortgage or the Mortgage Note and by applicable law,
accelerate the maturity of the Mortgage Loan.  The Servicer shall notify the
Purchaser that any such substitution of liability or assumption agreement has
been completed by forwarding to the Purchaser the original of any such
substitution of liability or assumption agreement, which document shall be added
to the related Mortgage File and shall, for all purposes, be considered a part
of such Mortgage File to the same extent as all other documents and instruments
constituting a part thereof.  All fees collected by the Servicer for entering
into an assumption or substitution of liability agreement shall belong to the
Servicer.

Notwithstanding the foregoing paragraphs of this Section or any other
provision of this Agreement, the Servicer shall not be deemed to be in default,
breach or any other violation of its obligations hereunder by reason of any
assumption of a Mortgage Loan by operation of law or any assumption which the
Servicer may be restricted by law from preventing, for any reason whatsoever.
For purposes of this Section 6.01, the term "assumption" is deemed to
also include a sale of the Mortgaged Property subject to the Mortgage that is
not accompanied by an assumption or substitution of liability agreement.

	Satisfaction of Mortgages and Release of Mortgage
Files. 

Upon the payment in full of any Mortgage Loan, or the receipt by the Servicer
of a notification that payment in full will be escrowed in a manner customary
for such purposes, the Servicer will immediately notify the Purchaser by a
certification, which certification shall include a statement to the effect that
all amounts received or to be received in connection with such payment which are
required to be deposited in the Custodial Account pursuant to Section 4.04 have
been or will be so deposited, of a Servicing Officer and shall request delivery
to it of the portion of the Mortgage File held by the Purchaser. The Purchaser
shall no later than five (5) Business Days after receipt of such certification
and request, release or cause to be released to the Servicer, the related
Mortgage Loan Documents and, upon its receipt of such documents, the Servicer
shall promptly prepare and deliver to the Purchaser the requisite satisfaction
or release.  No later than three (3) Business Days following its receipt of such
satisfaction or release, the Purchaser shall deliver, or cause to be delivered,
to the Servicer the release or satisfaction properly executed by the owner of
record of the applicable Mortgage or its duly appointed attorney in fact. If
such Mortgage Loan is a MERS Mortgage Loan, the Servicer is authorized to cause
the removal from the registration on the MERS System of such Mortgage and to
execute and deliver, on behalf of the Purchaser, any and all instruments of
satisfaction or cancellation or of partial or full release.  No expense incurred
in connection with any instrument of satisfaction or deed of reconveyance shall
be chargeable to the Custodial Account.

In the event the Servicer satisfies or releases a Mortgage without having
obtained payment in full of the indebtedness secured by the Mortgage or should
it otherwise prejudice any right the Purchaser may have under the Mortgage Loan
Documents, the Servicer, upon written demand, shall remit within two (2)
Business Days to the Purchaser the then outstanding principal balance of the
related Mortgage Loan by deposit thereof in the Custodial Account.

From time to time and as appropriate for the servicing or foreclosure of the
Mortgage Loans, including for the purpose of collection under any Primary
Mortgage Insurance Policy, the Purchaser shall, upon request of the Servicer and
delivery to the Purchaser of a servicing receipt signed by a Servicing Officer,
release the portion of the Mortgage File held by the Purchaser to the Servicer.
Such servicing receipt shall obligate the Servicer to return such Mortgage Loan
Documents to the Purchaser when the need therefor by the Servicer no longer
exists, unless the Mortgage Loan has been liquidated and the Liquidation
Proceeds relating to the Mortgage Loan have been deposited in the Custodial
Account or the Mortgage File has been delivered to an attorney, or to a public
trustee or other public official as required by law, for purposes of initiating
or pursuing legal action or other proceedings for the foreclosure of the
Mortgaged Property either judicially or non-judicially, and the Servicer has
delivered to the Purchaser a certificate of a Servicing Officer certifying as to
the name and address of the Person to which such Mortgage File was delivered and
the purpose or purposes of such delivery.  Upon receipt of a certificate of a
Servicing Officer stating that such Mortgage Loan was liquidated, the servicing
receipt shall be released by the Purchaser to the Servicer. The Servicer shall
indemnify the Purchaser, and its designee, from and against any and all losses,
claims, damages, penalties, fines, forfeitures, costs and expenses (including
court costs and reasonable attorney's fees) resulting from or related to the
loss, damage or misplacement of any documentation delivered to the Servicer
pursuant to this paragraph.

	Servicing Compensation.

As compensation for its services hereunder, the Servicer shall be entitled to
the amount provided for as the Servicer's Interim Servicing Fee.  Additional
servicing compensation in the form of assumption fees, as provided in Section
6.01, and late payment charges or otherwise shall be retained by the Servicer to
the extent not required to be deposited in the Custodial Account.  The Servicer
shall be required to pay all expenses incurred by it in connection with its
servicing activities hereunder and shall not be entitled to reimbursement
therefor except as specifically provided for.

	Annual Statement as to Compliance.

Within sixty (60) days after the end of each calendar year, the Servicer
will, upon request, deliver to the Purchaser an Officers' Certificate stating,
as to each signatory thereof, that (i) a review of the activities of the
Servicer during the preceding calendar year and of performance under this
Agreement has been made under such officers' supervision, and (ii) to the
best of such officers' knowledge, based on such review, the Servicer has
fulfilled all of its obligations under this Agreement throughout such year, or,
if there has been a default in the fulfillment of any such obligation,
specifying each such default known to such officers and the nature and status
thereof.  The first Officer's Certificate delivered by the Servicer to the
Purchaser pursuant to this Section shall be delivered, upon request, on or
before February 28, 2004.  Copies of such statement shall be provided by the
Servicer to the Purchaser upon request.

	Annual Independent Certified Public Accountants'
Servicing Report.

Within sixty (60) days after the end of each calendar year, the Servicer at
its expense shall, upon request, cause a firm of independent public accountants
which is a member of the American Institute of Certified Public Accountants to
furnish a statement to the Purchaser to the effect that such firm has examined
certain documents and records relating to the Servicer's servicing of mortgage
loans of the same type as the Mortgage Loans pursuant to servicing agreements
substantially similar to this Agreement, which agreements may include this
Agreement, and that, on the basis of such an examination, conducted
substantially in compliance with the Uniform Single Attestation Program for
Mortgage Bankers or the Audit Guide for HUD Approved Title II Approved
Mortgagees and Loan Correspondent Programs, such firm is of the opinion that the
Servicer's servicing has been conducted in compliance with the agreements
examined pursuant to this Section 6.05, except for (i) such exceptions as
such firm shall believe to be immaterial, and (ii) such other exceptions as
shall be set forth in such statement.  The first statement delivered by the
Servicer to the Purchaser pursuant to this Section shall be delivered, upon
request, on or before February 28, 2004.  Copies of such statement shall be
provided by the Servicer to the Purchaser.  In addition, on an annual basis, the
Servicer shall provide the Purchaser with copies of its audited financial
statements upon execution by the Purchaser of an agreement to keep confidential
the contents of such financial statements.

	Purchaser's Right to Examine Servicer
Records. 

The Purchaser shall have the right, at its expense, to examine and audit upon
reasonable notice to the Servicer, during business hours or at such other times
as might be reasonable under applicable circumstances, any and all of the books,
records, documentation or other information of the Servicer, or held by another
for the Servicer or on its behalf or otherwise, which relates to the performance
or observance by the Servicer of the terms, covenants or conditions of this
Agreement.

The Servicer shall provide to the Purchaser and any supervisory agents or
examiners representing a state or federal governmental agency having
jurisdiction over the Purchaser, including but not limited to OTS, FDIC and
other similar entities, access to any documentation regarding the Mortgage Loans
in the possession of the Servicer which may be required by any applicable
regulations.  Such access shall be afforded without charge, upon reasonable
request, during normal business hours and at the offices of the Servicer, and in
accordance with the federal government, FDIC, OTS, or any other similar
regulations.

	Servicer Shall Provide Information as Reasonably
Required.

The Seller shall furnish to the Purchaser during the term of this Agreement,
at the Servicer's expense, such periodic, special or other reports, information
or documentation, whether or not provided for herein, as shall be necessary,
reasonable or appropriate in respect to the Purchaser, or otherwise in respect
to the Mortgage Loans and the performance of the Servicer under this Agreement,
including any reports, information or documentation reasonably required to
comply with any regulations regarding any supervisory agents or examiners of the
Purchaser all such reports or information to be as provided by and in accordance
with such applicable instructions and directions as the Purchaser may reasonably
request in relation to this Agreement or the performance of the Servicer under
this Agreement.  The Servicer agrees to execute and deliver all such instruments
and take all such action as the Purchaser, from time to time, may reasonably
request in order to effectuate the purpose and to carry out the terms of this
Agreement.

In connection with marketing the Mortgage Loans, the Purchaser may make
available to a prospective purchaser audited financial statements of the Seller
and the Servicer for the most recently completed two (2) fiscal years for which
such statements are available, as well as a consolidated statement of condition
at the end of the last two (2) fiscal years covered by any consolidated
statement of operations.  If it has not already done so, the Seller and the
Servicer shall furnish promptly to the Purchaser or a prospective purchaser
copies of the statements specified above; provided, however, that prior to
furnishing such statements or information to any prospective purchaser, the
Seller and the Servicer may require such prospective purchaser to execute a
confidentiality agreement in a form satisfactory to the Seller or Servicer, as
applicable.

The Servicer shall make reasonably available to the Purchaser or any
prospective purchaser a knowledgeable financial or accounting officer for the
purpose of answering questions and to permit any prospective purchaser to
inspect the Servicer's servicing facilities for the purpose of satisfying such
prospective purchaser that the Servicer has the ability to service the Mortgage
Loans as provided in this Agreement.

The Servicer shall maintain with respect to each Mortgage Loan and shall make
available for inspection by the Purchaser or its designee the related Servicing
File during the time the Purchaser retains ownership of a Mortgage Loan and
thereafter in accordance with applicable laws and regulations.

ARTICLE VII

SERVICING
TRANSFER

	Transfer.

On the Servicing Transfer Date, the Purchaser, or its designee, shall assume
all servicing responsibilities related to, and the Servicer shall cease all
servicing responsibilities related to, the Mortgage Loans.  On or prior to the
Servicing Transfer Date (or in the case of (c), (d) and (e) below, within five
(5) Business Days from and after the Servicing Transfer Date), the Servicer
shall take such steps as may be necessary or appropriate to effectuate and
evidence the transfer of the servicing of the Mortgage Loans to the Purchaser,
or its designee, including but not limited to the following:

	Notice to Mortgagors.  The Servicer shall mail to each Mortgagor a
letter advising the Mortgagor of the transfer of the servicing of the related
Mortgage Loan to the Purchaser, or its designee, in accordance with the Real
Estate Settlement Procedures Act, Regulation X and other applicable laws and
regulations; provided, however, the content and format of the letter in a
standard form shall have the prior approval of the Purchaser.  The Servicer
shall provide the Purchaser with copies of all such related notices no later
than fifteen (15) days from and after the Servicing Transfer Date;

	Notice to Taxing Authorities and Insurance Companies.  The Servicer
shall transmit to the applicable taxing authorities and insurance companies
(including Private Mortgage Insurance Policy insurers, if applicable) and/or
agents, notification of the transfer of the servicing to the Purchaser, or its
designee, and instructions to deliver all notices, tax bills and insurance
statements, as the case may be, to the Purchaser, or its designee, from and
after the Servicing Transfer Date and each assignable tax service contract shall
be assigned to the Purchaser, or its designee, on the Servicing Transfer Date.
The Servicer shall provide the Purchaser, or its designee, with an Officers'
Certificate of a Servicing Officer, confirming that all such notices have been
transmitted, together with a copy of the related standard form(s) of such
notifications no later than the Servicing Transfer Date;

	Delivery of Servicing Records.  The Servicer shall forward to the
Purchaser, or its designee, all servicing records and the Servicing Files in the
Servicer's possession relating to each transferring Mortgage Loan, and shall
make available to the Purchaser, or its designee, during normal business hours,
any such records;

	Escrow Payments.  The Servicer shall provide the Purchaser, or its
designee, with immediately available funds by wire transfer in the amount of the
Escrow Payments and suspense balances and all loss draft balances associated
with the Mortgage Loans.  The Servicer shall provide the Purchaser, or its
designee, with an accounting statement of Escrow Payments and suspense balances
and loss draft balances sufficient to enable the Purchaser, or its designee, to
reconcile the amount of such payment with the accounts of the Mortgage Loans.
Additionally, the Servicer shall wire transfer to the Purchaser the amount of
any prepaid transferring Mortgage Loan payments and all other similar amounts
held by the Servicer;

	Mortgage Payments Received Prior to Servicing Transfer Date.  Prior
to the Servicing Transfer Date all payments received by the Servicer on each
Mortgage Loan shall be properly applied by the Servicer to the account of the
particular Mortgagor;

	Mortgage Payments Received After Servicing Transfer Date.  The amount
of any Monthly Payments for the Mortgage Loans received by the Servicer after
the Servicing Transfer Date shall be forwarded to the Purchaser or its designee
by wire transfer or overnight mail within two (2) Business Days of receipt;
provided, however, that any such Monthly Payments received by the Servicer more
than thirty (30) days after the Servicing Transfer Date shall be forwarded by
the Servicer to the Purchaser or its designee by wire transfer or regular mail
within three (3) Business Days of receipt.  The Servicer shall notify the
Purchaser or its designee of the particulars of the payment, such as the account
number, dollar amount, date received and any special Mortgagor application
instructions with respect to such Monthly Payments received by the
Servicer;

	Misapplied Payments.  Misapplied payments on Mortgage Loans shall be
processed as follows:  (i) all parties shall cooperate in correcting
misapplication errors;  (ii)  the party receiving notice of a misapplied
payment occurring prior to the Servicing Transfer Date and discovered after the
Servicing Transfer Date shall immediately notify the other party;  (iii) 
if a misapplied payment which occurred prior to the Servicing Transfer Date
cannot be identified and said misapplied payment has resulted in a shortage in a
Custodial Account or Escrow Account, the Servicer shall be liable for the amount
of such shortage.  The Servicer shall reimburse the Purchaser for the amount of
such shortage within thirty (30) days after receipt of written demand therefor
from the Purchaser;  (iv)  if a misapplied payment which occurred prior to
the Servicing Transfer Date has created an improper Purchase Price as the result
of an inaccurate outstanding principal balance, the party with notice of such
misapplied payment shall promptly inform the other party and a wire transfer or
a check shall be issued to the party shorted by the improper payment application
within ten (10) Business Days after notice thereof by the other party; and
(v) any wire transfer or check issued under the provisions of this Section
7.01(g) shall be accompanied by a statement indicating the corresponding
Servicer and/or Purchaser Mortgage Loan identification number and an explanation
of the allocation of any such payments;

	Books and Records. On the Servicing Transfer Date, the books, records
and accounts of the Servicer with respect to the servicing of the Mortgage Loans
shall be maintained in accordance with Accepted Servicing Practices;

	Reconciliation.  The Servicer shall, on or before the Servicing
Transfer Date, reconcile principal balances and make any monetary adjustments
for the Mortgage Loans as agreed to by the Servicer and the Purchaser.  Any such
monetary adjustments will be transferred between the Servicer and the Purchaser
as appropriate;

	IRS Forms.  The Servicer shall file all IRS Forms 1099, 1099A, 1098
or 1041 and K-1 which are required to be filed on or before the Servicing
Transfer Date in relation to the servicing and ownership of the Mortgage Loans.
The Servicer shall provide copies of such forms to the Purchaser upon reasonable
request and shall reimburse the Purchaser for any penalties or reasonable costs
incurred by the Purchaser due to the Servicer's failure to comply with this
paragraph;

	Insurance Premiums.  The Servicer shall pay all hazard and flood
insurance premiums and Primary Mortgage Insurance Policy premiums, due within
thirty (30) days after the Servicing Transfer Date, provided that the Servicer
has received bills for insurance premiums at least fourteen (14) days prior to
the Servicing Transfer Date; and

	Property Taxes.  The Servicer shall pay all tax bills (including
interest, late charges and penalties in connection therewith) due within thirty
(30) days after the Servicing Transfer Date, provided that the Servicer or its
tax service provider has received bills for taxes from a taxing authority at
least fourteen (14) days prior to the Servicing Transfer Date.
	Additional Obligations.

	Insurance Policies.  For ninety (90) days after the Servicing
Transfer Date, the Servicer shall deliver such insurance policies or renewals
and invoices as it may receive with respect to the Mortgage Loans to the
Purchaser or its designee within ten (10) Business Days of its receipt of same,
thereafter the Servicer shall exercise reasonable efforts to deliver such
insurance policies or renewals and invoices as it may receive with respect to
the Mortgage Loans to the Purchaser or its designee within a reasonable time of
its receipt of same.

	Property Taxes.  For ninety (90) days after the Servicing Transfer
Date, the Servicer shall deliver such tax bills as it may receive with respect
to the Mortgage Loans to the Purchaser or its designee within ten (10) Business
Days of its receipt of same, thereafter the Servicer shall exercise reasonable
efforts to deliver such tax bills as it may receive with respect to the Mortgage
Loans to the Purchaser within a reasonable time of its receipt of same.

	Escrow Analysis.  If a Mortgage Loan was originated more than twelve
(12) months prior to the Servicing Transfer Date, then the Servicer shall
conduct such escrow analyses with respect to such Mortgage Loan as may be
required under applicable law.  With respect to any such Mortgage Loan, any
adjustment to the escrow payment due, refunds of escrow overages and collections
of escrow shortages shall have been made in accordance with applicable law prior
to the Servicing Transfer Date. 

ARTICLE VIII

THE SELLER AND THE
SERVICER

	Indemnification; Third Party Claims.

The Servicer agrees to indemnify the Purchaser and hold it harmless against
any and all claims, losses, damages, penalties, fines, forfeitures, legal fees
and related costs, judgments, and any other costs, fees and expenses that the
Purchaser may sustain in any way related to the failure of the Servicer to
observe and perform its duties, obligations, covenants, and agreements to
service the Mortgage Loans during the Interim Servicing Period in strict
compliance with the terms of this Agreement.  The Seller agrees to indemnify the
Purchaser and hold it harmless against any and all claims, losses, damages,
penalties, fines, forfeitures, legal fees and related costs, judgments, and any
other costs, fees and expenses that the Purchaser may sustain in any way related
to the failure of the Seller to observe and perform its duties, obligations, and
covenants in strict compliance with the terms of this Agreement or as a result
of the breach of a representation or warranty set forth in Sections 3.01 or 3.02
of this Agreement.  An indemnifying party hereunder shall immediately notify the
Purchaser if a claim is made by a third party with respect to this Agreement or
a Mortgage Loan, assume (with the consent of the Purchaser) the defense of any
such claim and pay all expenses in connection therewith, including counsel fees,
and promptly pay, discharge and satisfy any judgment or decree which may be
entered against it or the Purchaser in respect of such claim.  An indemnifying
party hereunder shall follow any written instructions received from the
Purchaser in connection with such claim.  The Purchaser shall promptly reimburse
an indemnifying party hereunder for all amounts advanced by it pursuant to the
two preceding sentences except when the claim relates to the failure of the
Servicer to service and administer the Mortgage Loans in strict compliance with
the terms of this Agreement, the failure of the Seller to perform its duties and
obligations pursuant to this Agreement, the breach of representation or warranty
set forth in Sections 3.01 or 3.02, or the gross negligence, bad faith or
willful misconduct of either the Seller or the Servicer.  The provisions of this
Section 8.01 shall survive termination of this Agreement and transfer of the
servicing rights.

The Purchaser agrees to indemnify the Servicer and hold it harmless against
any and all claims, losses, damages, penalties, fines, forfeitures, legal fees
and related costs, judgments, and any other costs, fees and expenses that the
Servicer may sustain in any way related to the negligent or improper servicing
of the Mortgage Loans after the Servicing Transfer Date.  Notwithstanding any
provision to the contrary in this Section 8.01, the Purchaser shall have no
obligation to indemnify or hold the Servicer harmless from and against that
portion of any claim for indemnification that arises from any fact or
circumstance for which Purchaser is entitled to indemnification by the Servicer
pursuant to this Section 8.01.

	Merger or Consolidation of the Seller or the
Servicer. 

Each of the Seller and the Servicer shall keep in full effect its existence,
rights and franchises as a corporation under the laws of the state of its
incorporation except as permitted herein, and shall obtain and preserve its
qualification to do business as a foreign corporation in each jurisdiction in
which such qualification is or shall be necessary to protect the validity and
enforceability of this Agreement, or any of the Mortgage Loans and to perform
its duties under this Agreement.

Any Person into which either the Seller or the Servicer may be merged or
consolidated, or any corporation resulting from any merger, conversion or
consolidation to which either the Seller or the Servicer shall be a party, or
any Person succeeding to the business of either the Seller or the Servicer
whether or not related to loan servicing, shall be the successor of the Seller
or of the Servicer, as applicable, hereunder, without the execution or filing of
any paper or any further act on the part of any of the parties hereto, anything
herein to the contrary notwithstanding; provided, however, that the successor or
surviving Person shall be an institution or (i) having a GAAP net worth of not
less than $25,000,000, (ii) the deposits of which are insured by the FDIC, SAIF
and/or BIF, or which is a HUD-approved mortgagee whose primary business is in
origination and servicing of first lien mortgage loans, and (iii) who is a
Fannie Mae or Freddie Mac approved seller/servicer in good standing.
Notwithstanding the foregoing, if the successor or surviving Person is an
institution with a GAAP net worth of less than $25,000,000, then the Purchaser
may, in its sole discretion, waive such minimum GAAP net worth requirement.

	Limitation on Liability of the Seller and
Others. 

None of the Seller, the Servicer nor any of the officers, employees or agents
of the Seller or the Servicer shall be under any liability to the Purchaser for
any action taken or for refraining from the taking of any action in good faith
pursuant to this Agreement, or for errors in judgment made in good faith;
provided, however, that this provision shall not protect the Seller, the
Servicer or any such person against any breach of warranties or representations
made herein, or failure to perform its obligations in strict compliance with any
standard of care set forth in this Agreement, or any liability which would
otherwise be imposed by reason of negligence, bad faith or willful misconduct,
or any breach of the terms and conditions of this Agreement.  The Seller, the
Servicer and any officer, employee or agent of the Seller and the Servicer may
rely in good faith on any document of any kind prima facie properly executed and
submitted by the Purchaser respecting any matters arising hereunder.  The
Servicer shall not be under any obligation to appear in, prosecute or defend any
legal action which is not incidental to its duties to service the Mortgage Loans
in accordance with this Agreement and which in its reasonable opinion may
involve it in any expenses or liability; provided, however, that the Servicer
may, with the consent of the Purchaser, undertake any such action which it may
deem necessary or desirable in respect to this Agreement and the rights and
duties of the parties hereto.  In such event, the reasonable legal expenses and
costs of such action and any liability resulting therefrom shall be expenses,
costs and liabilities for which the Purchaser will be liable, and the Servicer
shall be entitled to be reimbursed therefor from the Purchaser upon written
demand.

	Servicer Not to Resign. 

The Servicer shall not resign from the obligations and duties hereby imposed
on it except by mutual consent of the Servicer and the Purchaser or upon the
determination that its duties hereunder are no longer permissible under
applicable law and such incapacity cannot be cured by the Servicer.  Any such
determination permitting the resignation of the Servicer shall be evidenced by
an Opinion of Counsel to such effect delivered to the Purchaser which Opinion of
Counsel shall be in form and substance acceptable to the Purchaser.  No such
resignation shall become effective until a successor shall have assumed the
Servicer's responsibilities and obligations hereunder in the manner provided in
Section 12.01.

	No Transfer of Servicing. 

With respect to the retention of the Servicer to service the Mortgage Loans
hereunder, the Servicer acknowledges that the Purchaser has acted in reliance
upon the Servicer's independent status, the adequacy of its servicing
facilities, plan, personnel, records and procedures, its integrity, reputation
and financial standing and the continuance thereof.  Without in any way limiting
the generality of this Section 8.05, the Servicer shall not either assign this
Agreement or the servicing hereunder or delegate its rights or duties hereunder
or any portion thereof, or sell or otherwise dispose of all or substantially all
of its property or assets, without the prior written approval of the Purchaser,
which consent shall be granted or withheld in the Purchaser's sole
discretion.

Without in any way limiting the generality of this Section 8.05, in the event
that the Servicer either shall assign this Agreement or the servicing
responsibilities hereunder or delegate its duties hereunder or any portion
thereof without the prior written consent of the Purchaser, then the Purchaser
shall have the right to terminate this Agreement as set forth in Section 10.02,
without any payment of any penalty or damages and without any liability
whatsoever to the Servicer (other than with respect to accrued but unpaid
Monthly Advances, Servicing Advances and Interim Servicing Fees remaining
unpaid) or any third party.  

ARTICLE IX

DEFAULT

	Events of Default. 

In case one or more of the following Events of Default by the Servicer shall
occur and be continuing, that is to say:

	any failure by the Servicer to remit to the Purchaser any payment required
to be made under the terms of this Agreement which continues unremedied for a
period of  one (1) Business Day after the date upon which written notice of such
failure, requiring the same to be remedied, shall have been given to the
Servicer by the Purchaser; or
	failure on the part of the Servicer duly to observe or perform in any
material respect any other of the covenants or agreements on the part of the
Servicer set forth in this Agreement, or if any of the representations and
warranties of the Servicer in Section 3.01 proves to be untrue in any material
respect, which failure or breach continues unremedied for a period of thirty
(30) days (except that such number of days shall be fifteen (15) in the case of
a failure to pay any premium for any insurance policy required to be maintained
under this Agreement) after the date on which written notice of such failure,
requiring the same to be remedied, shall have been given to the Servicer by the
Purchaser; or
	a decree or order of a court or agency or supervisory authority having
jurisdiction for the appointment of a conservator or receiver or liquidator in
any insolvency, bankruptcy, readjustment of debt, marshalling of assets and
liabilities or similar proceedings, or for the winding-up or liquidation of its
affairs, shall have been entered against the Servicer and such decree or order
shall have remained in force undischarged or unstayed for a period of sixty (60)
days; or
	the Servicer shall consent to the appointment of a conservator or receiver
or liquidator in any insolvency, bankruptcy, readjustment of debt, marshalling
of assets and liabilities or similar proceedings of or relating to the Servicer
or of or relating to all or substantially all of its property; or
	the Servicer shall admit in writing its inability to pay its debts generally
as they become due, file a petition to take advantage of any applicable
insolvency or reorganization statute, make an assignment for the benefit of its
creditors, or voluntarily suspend payment of its obligations; or
	the Servicer ceases to be approved by Fannie Mae or Freddie Mac as a
mortgage loan seller and servicer for more than thirty (30) days; or
	the Servicer attempts to assign its right to servicing compensation
hereunder or the Servicer attempts, without the consent of the Purchaser, to
sell or otherwise dispose of all or substantially all of its property or assets
or to assign this Agreement or the servicing responsibilities hereunder or to
delegate its duties hereunder or any portion thereof; or
	the Servicer ceases to be (a) licensed to service first lien
residential mortgage loans in each jurisdiction in which a Mortgaged Property is
located and such licensing is required, and (b) qualified to transact
business in any jurisdiction where it is currently so qualified, but only to the
extent such non-qualification materially and adversely affects the Servicer's
ability to perform its obligations hereunder; or
	the Servicer fails to meet the eligibility criteria set forth in the last
sentence of Section 8.02.

then, and in each and every such case, so long as an Event of Default shall
not have been remedied, the Purchaser, by notice in writing to the Servicer may,
in addition to whatever rights the Purchaser may have under Sections 3.03 and
8.01 and at law or equity or to damages, including injunctive relief and
specific performance, terminate all the rights and obligations of the Servicer
under this Agreement and in and to the Mortgage Loans and the proceeds thereof
without compensating the Servicer for the same.  On or after the receipt by the
Servicer of such written notice of termination, all authority and power of the
Servicer under this Agreement, whether with respect to the Mortgage Loans or
otherwise, shall pass to and be vested in the successor appointed pursuant to
Section 12.01.  Upon written request from the Purchaser, the Servicer shall
prepare, execute and deliver, any and all documents and other instruments, place
in such successor's possession all Servicing Files, and do or accomplish all
other acts or things necessary or appropriate to effect the purposes of such
notice of termination, whether to complete the transfer and endorsement or
assignment of the Mortgage Loans and related documents, or otherwise, at the
Servicer's sole expense. The Servicer agrees to cooperate with the Purchaser and
such successor in effecting the termination of the Servicer's responsibilities
and rights hereunder, including, without limitation, the transfer to such
successor for administration by it of all cash amounts which shall at the time
be credited by the Servicer to the Custodial Account or Escrow Account or
thereafter received with respect to the Mortgage Loans or any REO Property.

If any of the Mortgage Loans are MERS Mortgage Loans, in connection with the
termination or resignation (as described in Section 8.04) of the Servicer
hereunder, either (i) the successor Servicer shall represent and warrant
that it is a member of MERS in good standing and shall agree to comply in all
material respects with the rules and procedures of MERS in connection with the
servicing of the Mortgage Loans that are registered with MERS, or (ii) the
predecessor Servicer shall cooperate with the successor Servicer either (x) in
causing MERS to execute and deliver an assignment of Mortgage in recordable form
to transfer the Mortgage from MERS to the Purchaser and to execute and deliver
such other notices, documents and other instruments as may be necessary or
desirable to effect a transfer of such Mortgage Loan or servicing of such
Mortgage Loan on the MERS® System to the successor Servicer or (y) in
causing MERS to designate on the MERS® System the successor Servicer as the
servicer of such Mortgage Loan.

	Waiver of Defaults. 

The Purchaser may waive only by written notice any default by the Servicer in
the performance of its obligations hereunder and its consequences.  Upon any
such waiver of a past default, such default shall cease to exist, and any Event
of Default arising therefrom shall be deemed to have been remedied for every
purpose of this Agreement.  No such waiver shall extend to any subsequent or
other default or impair any right consequent thereon except to the extent
expressly so waived in writing.

ARTICLE X

TERMINATION

	Termination. 

The respective obligations and responsibilities of the Servicer shall
terminate upon:  (i) the earlier of (A) the Servicing Transfer Date and (B)
the later of the final payment or other liquidation (or any advance with respect
thereto) of the last Mortgage Loan or the disposition of all REO Property and
the remittance of all funds due hereunder; (ii) by mutual consent of the
Servicer and the Purchaser in writing; or (iii) termination of the Servicer
by the Purchaser with or without cause under the terms of this Agreement.

	Termination Without Cause.

The Purchaser may, at its sole option, terminate any rights the Servicer may
have hereunder, without cause, upon written notice.  Any such notice of
termination shall be in writing and delivered to the Servicer as provided in
Section 12.05 of this Agreement.  In the event of such termination, the
Purchaser agrees to pay the Servicer's costs and expenses in connection with
accommodating such early termination. 

ARTICLE XI

RECONSTITUTION OF MORTGAGE
LOANS

	Reconstitution of Mortgage
Loans.

	The Seller and the Servicer acknowledge and the Purchaser agrees that with
respect to some or all of the Mortgage Loans, the Purchaser may effect
either:

	one or more sales of the Mortgage Loans as whole loan transfers (each, a
"Whole Loan Transfer"); and/or
	one or more sales of the Mortgage Loans as public or private pass-through
transfers (each, a "Pass-Through Transfer").

	With respect to each Whole Loan Transfer or Pass-Through Transfer, as the
case may, the Seller and the Servicer agree:

	to cooperate fully with the Purchaser and any prospective purchaser with
respect to all reasonable requests and due diligence procedures including
participating in meetings with rating agencies, bond insurers and such other
parties as the Purchaser shall designate and participating in meetings with
prospective purchasers of the Mortgage Loans or interests therein and providing
information contained in the Mortgage Loan Schedule including any diskette or
other related data tapes provided as reasonably requested by such purchasers;

	to execute all agreements required to be executed by the Seller and Servicer
in connection with such Whole Loan Transfer or Pass-Through Transfer provided
that any such agreements be consistent with the terms hereof and impose no
greater duties, liabilities or obligations upon the Seller than those set forth
herein and provided that each of the Seller and the Servicer is given an
opportunity to review and reasonably negotiate in good faith the content of such
documents not specifically referenced or provided for herein;
	on the closing date of the Whole Loan Transfer or Pass-Through Transfer, as
the case may be, to restate, for the benefit of the owners of the Mortgage
Loans, the representations and warranties contained in Section 3.01 and solely
with respect to the Seller, Section 3.02;
	to negotiate and execute one or more master servicing agreements between the
Servicer and any third party servicer which is servicing loans on behalf of the
Purchaser providing for the Servicer to master service such Mortgage Loans on
behalf of the Purchaser;
	to negotiate and execute one or more subservicing agreements between the
Servicer and any master servicer which is generally considered to be a prudent
master servicer in the secondary mortgage market designated by the Purchaser in
its sole discretion after consultation with the Servicer and/or one or more
custodial and servicing agreements among the Purchaser or an affiliate of the
Purchaser, the Servicer and a third party custodian/trustee which is generally
considered to be a prudent custodian/trustee in the secondary mortgage market
designated by the Purchaser in its sole discretion after consultation with the
Servicer, in either case for the purpose of pooling the Mortgage Loans with
other mortgage loans for resale or securitization;
	in connection with any securitization of any Mortgage Loans, to execute a
pooling and servicing agreement, which pooling and servicing agreement may, at
the Purchaser's direction, contain contractual provisions including, but not
limited to, a 24-day certificate payment delay (54-day total payment delay),
servicer advances of delinquent scheduled payments of principal and interest
through liquidation (unless deemed non-recoverable) and payment of compensating
interest with respect to prepayment interest shortfalls (to the extent of the
monthly servicing fee payable thereto), servicing and mortgage loan
representations and warranties which in form and substance conform to secondary
market standards for securities backed by mortgage loans similar to the Mortgage
Loans and such provisions with regard to servicing responsibilities, investor
reporting, segregation and deposit of principal and interest payments, custody
of the Mortgage Loans, and other covenants as are required by the Purchaser and
one or more nationally recognized rating agencies for "AAA" rated
mortgage pass-through transactions which are "mortgage related
securities" for purposes of the Secondary Mortgage Market Enhancement Act
of 1984, unless otherwise mutually agreed. At the sole option of the Purchaser,
any REMIC residual class issued pursuant to any pooling agreement may be
transferred to the Servicer;
	to deliver, upon request, to the Purchaser and to any Person designated by
the Purchaser (a) for inclusion in any prospectus or other offering
material such publicly available information regarding the Seller and the
Servicer, its financial condition and its mortgage loan delinquency, foreclosure
and loss experience and any additional required information reasonably requested
by the Purchaser, (b) any similar non public, unaudited financial
information (which the Purchaser may, at its option and at its cost, have
audited by certified public accountants) and such other information as is
reasonably requested by the Purchaser and which the Seller and the Servicer are
capable of providing without unreasonable effort or expense, and to indemnify
the Purchaser and its affiliates for material misstatements or omissions
contained in such information, and (c) such statements and audit letters of
reputable, certified public accountants pertaining to information provided by
the Seller and the Servicer pursuant to clause (a) above as shall be reasonably
requested by the Purchaser; and
	to deliver, upon request, to the Purchaser, and to any Person designated by
the Purchaser, opinions of counsel in a form reasonably acceptable to the
Purchaser as are customarily delivered by sellers and servicers and reasonably
determined by the Purchaser to be necessary in connection with Whole Loan
Transfers or Pass-Through Transfers, as the case may be, it being understood
that the cost of any opinions of counsel (other than in-house counsel) that may
be required for a Whole Loan Transfer or Pass-Through Transfer, as the case may
be, shall be the responsibility of the Purchaser.

ARTICLE XII

MISCELLANEOUS
PROVISIONS

	Successor to the Servicer.

Prior to termination of Servicer's responsibilities and duties under this
Agreement pursuant to Section 4.13, 8.04, 9.01, 10.01 or 10.02, the Purchaser
shall (i) succeed to and assume all of the Servicer's responsibilities,
rights, duties and obligations under this Agreement, or (ii) appoint a
successor having the characteristics set forth in Section 8.02 hereof and which
shall succeed to all rights and assume all of the responsibilities, duties and
liabilities of the Servicer under this Agreement prior to the termination of the
Servicer's responsibilities, duties and liabilities under this Agreement. In
connection with such appointment and assumption, the Purchaser may make such
arrangements for the compensation of such successor out of payments on Mortgage
Loans as the Purchaser and such successor shall agree.  In the event that the
Servicer's duties, responsibilities and liabilities under this Agreement should
be terminated pursuant to the aforementioned Sections, the Servicer shall
discharge such duties and responsibilities during the period from the date it
acquires knowledge of such termination until the effective date thereof with the
same degree of diligence and prudence which it is obligated to exercise under
this Agreement, and shall take no action whatsoever that might impair or
prejudice the rights or financial condition of its successor.  The resignation
or removal of the Servicer pursuant to the aforementioned Sections shall not
become effective until a successor shall be appointed pursuant to this Section
and shall in no event relieve the Servicer of the representations and warranties
made pursuant to Section3.01 and the indemnification obligations of the Servicer
pursuant to Section 8.01.

Any successor appointed as provided herein shall execute, acknowledge and
deliver to the Servicer and to the Purchaser an instrument accepting such
appointment, whereupon such successor shall become fully vested with all the
rights, powers, duties, responsibilities, obligations and liabilities of the
Servicer, with like effect as if originally named as a party to this Agreement.
Any termination or resignation of the Servicer or this Agreement pursuant to
Section 4.13, 8.04, 8.05, 9.01, 10.01, or 10.02 shall not affect any claims that
the Purchaser may have against the Servicer arising prior to any such
termination or resignation.

The Servicer shall promptly deliver to the successor the funds in the
Custodial Account and the Escrow Account and the Mortgage Files and related
documents and statements held by it hereunder and the Servicer shall account for
all funds.  The Servicer shall execute and deliver such instruments and do such
other things all as may reasonably be required to more fully and definitely vest
and confirm in the successor all such rights, powers, duties, responsibilities,
obligations and liabilities of the Servicer.  The successor shall make
arrangements as it may deem appropriate to reimburse the Servicer for
unrecovered Servicing Advances which the successor retains hereunder and which
would otherwise have been recovered by the Servicer pursuant to this Agreement
but for the appointment of the successor servicer.

Upon a successor's acceptance of appointment as such, the Servicer shall
notify by mail the Purchaser of such appointment.

	Amendment. 

This Agreement may be amended or supplemented from time to time by written
agreement executed by the Purchaser, the Seller and the Servicer.

	Recordation of Agreement. 

To the extent permitted by applicable law, this Agreement is subject to
recordation in all appropriate public offices for real property records in all
the counties or other comparable jurisdictions in which any of all the Mortgaged
Properties subject to the Mortgages are situated, and in any other appropriate
public recording office or elsewhere, such recordation to be effected by the
Seller at the Seller's expense on direction of the Purchaser.

	Governing Law. 

This Agreement shall be governed by and construed in accordance with the laws
of the State of New York, without regard to its conflict of law provisions,
except to the extent preempted by Federal law.  The obligations, rights and
remedies of the parties hereunder shall be determined in accordance with such
laws.

	Notices. 

Any demands, notices or other communications permitted or required hereunder
shall be in writing and shall be deemed conclusively to have been given if
personally delivered at or mailed by registered mail, postage prepaid, and
return receipt requested or certified mail, return receipt requested, or
transmitted by telex, telegraph or telecopier and confirmed by a similar mailed
writing, as follows:

	if to the Seller:

E-LOAN, Inc.

5875 Arnold Road

Dublin, CA 94568

Attn:  Jeff Becker

with copy to:

E-LOAN, Inc.

5875 Arnold Road

Dublin, CA 94568

Attn:  General Counsel

(ii)if to the Servicer:

E-LOAN, Inc.

5875 Arnold Road

Dublin, CA 94568

Attn:  Rob Majerus

with copy to:

E-LOAN, Inc.

5875 Arnold Road

Dublin, CA 94568

Attn:  General Counsel

(iii)if to the Purchaser:

DLJ Mortgage Capital, Inc.

c/o Credit Suisse First Boston LLC                               Eleven
Madison Avenue

4th Floor

New York, New York 10010

Attention: Kari Roberts

with copy to:

DLJ Mortgage Capital, Inc.
c/o Credit Suisse First Boston LLC

One Madison Avenue

9th Floor

New York, New York 10010

Attention:  General Counsel

or such other address as may hereafter be furnished to the other party by
like notice.  Any such demand, notice or communication hereunder shall be deemed
to have been received on the date delivered to or received at the premises of
the addressee (as evidenced, in the case of registered or certified mail, by the
date noted on the return receipt).

	Severability of Provisions.

Any part, provision, representation or warranty of this Agreement which is
prohibited or which is held to be void or unenforceable shall be ineffective to
the extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof.  Any part, provision, representation or warranty of
this Agreement which is prohibited or unenforceable or is held to be void or
unenforceable in any jurisdiction shall be ineffective, as to such jurisdiction,
to the extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction as to any Mortgage Loan shall not invalidate or render
unenforceable such provision in any other jurisdiction.  To the extent permitted
by applicable law, the parties hereto waive any provision of law which prohibits
or renders void or unenforceable any provision hereof.  If the invalidity of any
part, provision, representation or warranty of this Agreement shall deprive any
party of the economic benefit intended to be conferred by this Agreement, the
parties shall negotiate, in good faith, to develop a structure the economic
effect of which is nearly as possible the same as the economic effect of this
Agreement without regard to such invalidity.

	Exhibits.

The exhibits to this Agreement are hereby incorporated and made a part hereof
and are an integral part of this Agreement.

	General Interpretive Principles. 

For purposes of this Agreement, except as otherwise expressly provided or
unless the context otherwise requires:

	the terms defined in this Agreement have the meanings assigned to them in
this Agreement and include the plural as well as the singular, and the use of
any gender herein shall be deemed to include the other gender;
	accounting terms not otherwise defined herein have the meanings assigned to
them in accordance with GAAP;
	references herein to "Articles," "Sections,"
Subsections," "Paragraphs," and other subdivisions without
reference to a document are to designated Articles, Sections, Subsections,
Paragraphs and other subdivisions of this Agreement;
	a reference to a Subsection without further reference to a Section is a
reference to such Subsection as contained in the same Section in which the
reference appears, and this rule shall also apply to Paragraphs and other
subdivisions;
	the words "herein," "hereof," "hereunder," and
other words of similar import refer to this Agreement as a whole and not to any
particular provision; 
	the term "include" or "including" shall mean without
limitation by reason of enumeration; and
	headings of the Articles and Sections in this Agreement are for reference
purposes only and shall not be deemed to have any substantive effect.

	Reproduction of Documents. 

This Agreement and all documents relating thereto, including, without
limitation, (i) consents, waivers and modifications which may hereafter be
executed, (ii) documents received by any party at the closing, and (iii)
financial statements, certificates and other information previously or hereafter
furnished, may be reproduced by any photographic, photostatic, microfilm, micro-
card, miniature photographic or other similar process.  The parties agree that
any such reproduction shall be admissible in evidence as the original itself in
any judicial or administrative proceeding, whether or not the original is in
existence and whether or not such reproduction was made by a party in the
regular course of business, and that any enlargement, facsimile or further
reproduction of such reproduction shall likewise be admissible in evidence.

	Confidentiality of Information. 

Each party recognizes that, in connection with this Agreement, it may become
privy to non-public information regarding the financial condition, operations,
prospects and customer information (including "non-public personal
information" of Seller's customers as defined by federal regulations
implementing the Gramm-Leach-Bliley Act) of the other party.  Except as required
by law, each party agrees to keep all non-public information regarding the other
party strictly confidential, and to use all such information solely in order to
effectuate the purpose of the Agreement, provided that each party may provide
confidential information to its employees, agents and affiliates who have a need
to know such information in order to effectuate the transaction, whether or not
such information is oral, written or other form, and whether or not labeled as
confidential by such party.  In addition, confidential information may be
provided to a regulatory authority with supervisory power over the Purchaser,
provided such information is identified as confidential non-public
information.

	Recordation of Assignments of Mortgage.

To the extent permitted by applicable law, each of the Assignments of
Mortgage is subject to recordation in all appropriate public offices for real
property records in all the counties or other comparable jurisdictions in which
any or all of the Mortgaged Properties are situated, and in any other
appropriate public recording office or elsewhere, such recordation to be
effected at the Seller's expense in the event recordation is either necessary
under applicable law or requested by the Purchaser at its sole option.

	Assignment by Purchaser. 

The Purchaser shall have the right, without the consent of the Seller or the
Servicer hereof, to assign, in whole or in part, its interest under this
Agreement with respect to some or all of the Mortgage Loans, and designate any
person to exercise any rights of the Purchaser hereunder, by executing an
Assignment, Assumption and Recognition Agreement substantially in the form of
Exhibit D hereto and the assignee or designee shall accede to the rights
and obligations hereunder of the Purchaser with respect to such Mortgage Loans.
In no event shall the Purchaser sell a partial interest in any Mortgage Loan
without the written consent of the Seller, which consent shall not be
unreasonably denied.  

	No Partnership. 

Nothing herein contained shall be deemed or construed to create a co-
partnership or joint venture between the parties hereto and the services of the
Servicer shall be rendered as an independent contractor and not as agent for
Purchaser.

	Execution; Successors and Assigns.

This Agreement may be executed in one or more counterparts and by the
different parties hereto on separate counterparts, each of which, when so
executed, shall be deemed to be an original; such counterparts, together, shall
constitute one and the same agreement.  Subject to Section 8.02, this Agreement
shall inure to the benefit of and be binding upon the Seller, the Servicer and
the Purchaser and their respective successors and assigns.

	Entire Agreement. 

Each of the parties to this Agreement acknowledges that no representations,
agreements or promises were made to any of the other parties to this Agreement
or any of its employees other than those representations, agreements or promises
specifically contained herein.  This Agreement and the related Purchase Price
and Terms Letter set forth the entire understanding between the parties hereto
and shall be binding upon all successors of all of the parties.  In the event of
any inconsistency between a Purchase Price and Terms Letter and this Agreement,
this Agreement shall control.

	No Solicitation.

From and after the Closing Date, the Seller agrees that it will not take any
action or permit or cause any action to be taken by any of its agents or
affiliates, or by any independent contractors on the Seller's behalf, to
personally, by telephone, by mail, or electronically by e-mail or through the
internet or otherwise, solicit the borrower or obligor under any Mortgage Loan
to refinance the Mortgage Loan, in whole or in part, without the prior written
consent of the Purchaser.  It is understood and agreed that all rights and
benefits relating to the solicitation of any Mortgagors to refinance any
Mortgage Loans and the attendant rights, title and interest in and to the list
of such Mortgagors and data relating to their Mortgages (including insurance
renewal dates) shall be transferred to the Purchaser pursuant hereto on the
Closing Date and the Seller shall take no action to undermine these rights and
benefits.  Notwithstanding the foregoing, it is understood and agreed that
promotions undertaken by the Seller or any affiliate of the Seller which are
directed to the general public at large, or segments thereof, provided that no
segment shall consist primarily of the borrowers or obligors under the Mortgage
Loans, including, without limitation, mass mailing based on commercially
acquired mailing lists, newspaper, radio and television advertisements shall not
constitute solicitation under this Section 12.16.  This Section 12.16 shall not
be deemed to preclude the Seller or any of its affiliates from soliciting any
Mortgagor for any other financial products or services.  The Seller shall use
its best efforts to prevent the sale of the name of any Mortgagor to any Person
who is not an affiliate of the Seller.

	Costs.

The Purchaser shall pay any commissions due its salesmen, the expenses of its
accountants and attorneys and the expenses and fees of any broker retained by
the Purchaser with respect to the transactions covered by this Agreement.  All
other costs and expenses incurred in connection with the transfer and delivery
of the Mortgage Loans and related servicing rights including, without
limitation, fees for recording intervening assignments of  mortgage and
Assignments of Mortgage, the cost of obtaining tax service contracts and the
legal fees and expenses of its attorneys shall be paid by the Seller. The Seller
shall be responsible for causing to occur the recordation of all Assignments of
Mortgage and all intervening assignments of mortgage, as applicable.

 

IN WITNESS WHEREOF, the Seller and the Purchaser have caused their names to
be signed hereto by their respective officers thereunto duly authorized as of
the day and year first above written.
DLJ MORTGAGE CAPITAL, INC.

Purchaser

By:________/s/________________

Name:  John P. Graham

Title:  Vice President

E-LOAN, Inc. 

Seller and Servicer

By: ________/s/_______________

Name:  Joseph J. Kennedy

Title: PresidentQ1 2003 Exhibit 10.5

                                                              Exhibit 10.5

E-LOAN, INC.

INDEMNIFICATION AGREEMENT

This Indemnification Agreement ("Agreement") is effective
as of April 14, 2003 by and between E-LOAN, Inc., a Delaware corporation (the
"Company"), and Geoffrey M. Halverson ("Indemnitee").

WHEREAS, the Company desires to attract and retain the
services of highly qualified individuals, such as Indemnitee, to serve the
Company and its related entities;

WHEREAS, in order to induce Indemnitee to continue to provide
services to the Company, the Company wishes to provide for the indemnification
of, and the advancement of expenses to, Indemnitee to the maximum extent
permitted by law;

WHEREAS, the Company and Indemnitee recognize the continued
difficulty in obtaining liability insurance for the Company's directors,
officers, employees, agents and fiduciaries, the significant increases in the
cost of such insurance and the general reductions in the coverage of such
insurance;

WHEREAS, the Company and Indemnitee further recognize the
substantial increase in corporate litigation in general, subjecting directors,
officers, employees, agents and fiduciaries to expensive litigation risks at the
same time as the availability and coverage of liability insurance has been
severely limited; and

WHEREAS, the Company and Indemnitee desire to continue to
have in place the additional protection provided by an indemnification
agreement, with such changes as are required to conform the existing agreement
to Delaware law and to provide indemnification and advancement of expenses to
the Indemnitee to the maximum extent permitted by Delaware law;

WHEREAS, in view of the considerations set forth above, the
Company desires that Indemnitee shall be indemnified and advanced expenses by
the Company as set forth herein;

NOW, THEREFORE, the Company and Indemnitee hereby agree as
set forth below.

	Certain Definitions.

	"Change in Control" shall mean, and shall be deemed to
have occurred if, on or after the date of this Agreement, (i) any "person"
(as such term is used in Sections 13(d) and 14(d) of the Securities
Exchange Act of 1934, as amended), other than a trustee or other fiduciary
holding securities under an employee benefit plan of the Company acting in such
capacity or a corporation owned directly or indirectly by the stockholders of
the Company in substantially the same proportions as their ownership of stock of
the Company, becomes the "beneficial owner" (as defined in Rule 13d-3 under
said Act), directly or indirectly, of securities of the Company representing
more than 50% of the total voting power represented by the Company's then
outstanding Voting Securities, (ii) during any period of two consecutive years,
individuals who at the beginning of such period constitute the Board of
Directors of the Company and any new director whose election by the Board of
Directors of nomination for election by the Company's stockholders was approved
by a vote of at least two thirds (2/3) of the directors then still in office who
either were directors at the beginning of the period or whose election or
nomination for election was previously so approved, cease for any reason to
constitute a majority thereof, (iii) the stockholders of the Company
approve a merger or consolidation of the Company with any other corporation
other than a merger or consolidation which would result in the Voting Securities
of the Company outstanding immediately prior thereto continuing to represent
(either by remaining outstanding or by being converted into Voting Securities of
the surviving entity) at least 80% of the total voting power represented by the
Voting Securities of the Company or such surviving entity outstanding
immediately after such merger or consolidation, or (iv) the stockholders of
the Company approve a plan of complete liquidation of the Company or an
agreement for the sale or disposition by the Company of (in one transaction or a
series of related transactions) all or substantially all of the Company's
assets.

	"Claim" shall mean with respect to a Covered Event:  any
threatened, pending or completed action, suit, proceeding or alternative dispute
resolution mechanism, or any hearing, inquiry or investigation that Indemnitee
in good faith believes might lead to the institution of any such action, suit,
proceeding or alternative dispute resolution mechanism, whether civil, criminal,
administrative, investigative or other.

	References to the "Company" shall include, in addition to
E-LOAN, Inc., any constituent corporation (including any constituent of a
constituent) absorbed in a consolidation or merger to which E-LOAN, Inc. (or any
of its wholly owned subsidiaries) is a party which, if its separate existence
had continued, would have had power and authority to indemnify its directors,
officers, employees, agents or fiduciaries, so that if Indemnitee is or was a
director, officer, employee, agent or fiduciary of such constituent corporation,
or is or was serving at the request of such constituent corporation as a
director, officer, employee, agent or fiduciary of another corporation,
partnership, joint venture, employee benefit plan, trust or other enterprise,
Indemnitee shall stand in the same position under the provisions of this
Agreement with respect to the resulting or surviving corporation as Indemnitee
would have had with respect to such constituent corporation if its separate
existence had continued.

	"Covered Event" shall mean any event or occurrence
related to the fact that Indemnitee is or was a director, officer, employee,
agent or fiduciary of the Company, or any subsidiary of the Company, or is or
was serving at the request of the Company as a director, officer, employee,
agent or fiduciary of another corporation, partnership, joint venture, trust or
other enterprise, or by reason of any action or inaction on the part of
Indemnitee while serving in such capacity.

	"Expenses" shall mean any and all expenses (including
attorneys' fees and all other costs, expenses and obligations incurred in
connection with investigating, defending, being a witness in or participating in
(including on appeal), or preparing to defend, to be a witness in or to
participate in, any action, suit, proceeding, alternative dispute resolution
mechanism, hearing, inquiry or investigation), judgments, fines, penalties and
amounts paid in settlement (if such settlement is approved in advance by the
Company, which approval shall not be unreasonably withheld) of any Claim and any
federal, state, local or foreign taxes imposed on the Indemnitee as a result of
the actual or deemed receipt of any payments under this Agreement.

	"Expense Advance" shall mean a payment to Indemnitee
pursuant to Section 3 of Expenses in advance of the settlement of or final
judgment in any action, suit, proceeding or alternative dispute resolution
mechanism, hearing, inquiry or investigation which constitutes a Claim.

	"Independent Legal Counsel" shall mean an attorney or
firm of attorneys, selected in accordance with the provisions of
Section 2(d) hereof, who shall not have otherwise performed services for
the Company or Indemnitee within the last three years (other than with respect
to matters concerning the rights of Indemnitee under this Agreement, or of other
Indemnitees under similar indemnity agreements).

	References to "other enterprises" shall include employee
benefit plans; references to "fines" shall include any excise taxes assessed on
Indemnitee with respect to an employee benefit plan; and references to "serving
at the request of the Company" shall include any service as a director, officer,
employee, agent or fiduciary of the Company which imposes duties on, or involves
services by, such director, officer, employee, agent or fiduciary with respect
to an employee benefit plan, its participants or its beneficiaries; and if
Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to
be in the interest of the participants and beneficiaries of an employee benefit
plan, Indemnitee shall be deemed to have acted in a manner "not opposed to the
best interests of the Company" as referred to in this Agreement.

	"Reviewing Party" shall mean, subject to the provisions
of Section 2(d), any person or body appointed by the Board of Directors in
accordance with applicable law to review the Company's obligations hereunder and
under applicable law, which may include a member or members of the Company's
Board of Directors, Independent Legal Counsel or any other person or body not a
party to the particular Claim for which Indemnitee is seeking
indemnification.

	"Section" refers to a section of this Agreement unless
otherwise indicated.

	Indemnification.

	Indemnification of Expenses.  Subject to the
provisions of Section 2(b) below, the Company shall indemnify Indemnitee
for Expenses to the fullest extent permitted by law if Indemnitee was or is or
becomes a party to or witness or other participant in, or is threatened to be
made a party to or witness or other participant in, any Claim (whether by reason
of or arising in party out of a Covered Event), including all interest,
assessments and other charges paid or payable in connection with or in respect
of such Expenses.

	Review of Indemnification Obligations.
Notwithstanding the foregoing, in the event any Reviewing Party shall have
determined (in a written opinion, in any case in which Independent Legal Counsel
is the Reviewing Party) that Indemnitee is not entitled to be indemnified
hereunder under applicable law, (i) the Company shall have no further
obligation under Section 2(a) to make any payments to Indemnitee not made
prior to such determination by such Reviewing Party, and (ii) the Company
shall be entitled to be reimbursed by Indemnitee (who hereby agrees to reimburse
the Company) for all Expenses theretofore paid to Indemnitee to which Indemnitee
is not entitled hereunder under applicable law; provided, however,
that if Indemnitee has commenced or thereafter commences legal proceedings in a
court of competent jurisdiction to secure a determination that Indemnitee is
entitled to be indemnified hereunder under applicable law, any determination
made by any Reviewing Party that Indemnitee is not entitled to be indemnified
hereunder under applicable law shall not be binding and Indemnitee shall not be
required to reimburse the Company for any Expenses theretofore paid in
indemnifying Indemnitee until a final judicial determination is made with
respect thereto (as to which all rights of appeal therefrom have been exhausted
or lapsed.)  Indemnitee's obligation to reimburse the Company for any Expenses
shall be unsecured and no interest shall be charged thereon.

	Indemnitee Rights on Unfavorable Determination;
Binding Effect.  If any Reviewing Party determines that Indemnitee
substantively is not entitled to be indemnified hereunder in whole or in part
under applicable law, Indemnitee shall have the right to commence litigation
seeking an initial determination by the court or challenging any such
determination by such Reviewing Party or any aspect thereof, including the legal
or factual bases therefor, and, subject to the provisions of Section 15,
the Company hereby consents to service of process and to appear in any such
proceeding.  Absent such litigation, any determination by any Reviewing Party
shall be conclusive and binding on the Company and Indemnitee.

	Selection of Reviewing Party; Change in Control.
If there has not been a Change in Control, any Reviewing Party shall be selected
by the Board of Directors, and if there has been such a Change in Control (other
than a Change in Control which has been approved by a majority of the Company's
Board of Directors who were directors immediately prior to such Change in
Control), any Reviewing Party with respect to all matters thereafter arising
concerning the rights of Indemnitee to indemnification of Expenses under this
Agreement or any other agreement or under the Company's Certificate of
Incorporation or Bylaws as now or hereafter in effect, or under any other
applicable law, if desired by Indemnitee, shall be Independent Legal Counsel
selected by Indemnitee and approved by the Company (which approval shall not be
unreasonably withheld).  Such counsel, among other things, shall render its
written opinion to the Company and Indemnitee as to whether and to what extent
Indemnitee would be entitled to be indemnified hereunder under applicable law
and the Company agrees to abide by such opinion.  The Company agrees to pay the
reasonable fees of the Independent Legal Counsel referred to above and to
indemnify fully such counsel against any and all expenses (including attorneys'
fees), claims, liabilities and damages arising out of or relating to this
Agreement or its engagement pursuant hereto.  Notwithstanding any other
provisions of this Agreement, the Company shall not be required to pay Expenses
of more than one Independent Legal Counsel in connection with all matters
concerning a single Indemnitee, and such Independent Legal Counsel shall be the
Independent Legal Counsel for any or all other Indemnitees unless (i) the
employment of separate counsel by one or more Indemnitees has been previously
authorized by the Company in writing; (ii) an Indemnitee shall have
provided to the Company a written statement that such Indemnitee has reasonably
concluded that there may be a conflict of interest between such Indemnitee and
the other Indemnitees with respect to the matters arising under this
Agreement.

	Mandatory Payment of Expenses.  Notwithstanding
any other provision of this Agreement other than Section 10 hereof, to the
extent that Indemnitee has been successful on the merits or otherwise,
including, without limitation, the dismissal of an action without prejudice, in
defense of any Claim, Indemnitee shall be indemnified against all Expenses
incurred by Indemnitee in connection therewith.

	Expense Advances.

	Obligation to Make Expense Advances.  Upon receipt
of a written undertaking by or on behalf of the Indemnitee to repay such amounts
if it shall ultimately be determined that the Indemnitee is not entitled to be
indemnified therefor by the Company hereunder under applicable law, the Company
shall make Expense Advances to Indemnitee.

	Form of Undertaking.  Any obligation to repay any
Expense Advances hereunder pursuant to a written undertaking by the Indemnitee
shall be unsecured and no interest shall be charged thereon.

	Determination of Reasonable Expense Advances.  The
partners agree that for the purposes of any Expense Advance for which Indemnitee
has made written demand to the Company in accordance with this Agreement, all
Expenses included in such Expense Advance that are certified by affidavit of
Indemnitee's counsel as being reasonable shall be presumed conclusively to be
reasonable.

	Procedures for Indemnification and Expense
Advances.

	Timing of Payments.  All payments of Expenses
(including without limitation Expense Advances) by the Company to the Indemnitee
pursuant to this Agreement shall be made to the fullest extent permitted by law
as soon as practicable after written demand by Indemnitee therefor is presented
to the Company, but in no event later than thirty (30) business days after such
written demand by Indemnitee is presented to the Company, except in the case of
Expense Advances, which shall be made no later than ten (10) business days after
such written demand by Indemnitee is presented to the Company.

	Notice/Cooperation by Indemnitee.  Indemnitee
shall, as a condition precedent to Indemnitee's right to be indemnified or
Indemnitee's right to receive Expense Advances under this Agreement, give the
Company notice in writing as soon as practicable of any Claim made against
Indemnitee for which indemnification will or could be sought under this
Agreement.  Notice to the Company shall be directed to the Chief Executive
Officer of the Company at the address shown on the signature page of this
Agreement (or such other address as the Company shall designate in writing to
Indemnitee).  In addition, Indemnitee shall give the Company such information
and cooperation as it may reasonably require and as shall be within Indemnitee's
power.

	No Presumptions; Burden of Proof.  For purposes of
this Agreement, the termination of any Claim by judgment, order, settlement
(whether with or without court approval) or conviction, or upon a plea of
nolo contendere, or its equivalent, shall not create a presumption
that Indemnitee did not meet any particular standard of conduct or have any
particular belief or that a court has determined that indemnification is not
permitted by this Agreement or applicable law.  In addition, neither the failure
of any Reviewing Party to have made a determination as to whether Indemnitee has
met any particular standard of conduct or had any particular belief, nor an
actual determination by any Reviewing Party that Indemnitee has not met such
standard of conduct or did not have such belief, prior to the commencement of
legal proceedings by Indemnitee to secure a judicial determination that
Indemnitee should be indemnified under this Agreement under applicable law,
shall be a defense to Indemnitee's claim or create a presumption that Indemnitee
has not met any particular standard of conduct or did not have any particular
belief.  In connection with any determination by any Reviewing Party or
otherwise as to whether the Indemnitee is entitled to be indemnified hereunder
under applicable law, the burden of proof shall be on the Company to establish
that Indemnitee is not so entitled.

	Notice to Insurers.  If, at the time of the
receipt by the Company of a notice of a Claim pursuant to Section 4(b)
hereof, the Company has liability insurance in effect which may cover such
Claim, the Company shall give prompt notice of the commencement of such Claim to
the insurers in accordance with the procedures set forth in the respective
policies.  The Company shall thereafter take all necessary or desirable action
to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable
as a result of such Claim in accordance with the terms of such
policies.

	Selection of Counsel.  In the event the Company
shall be obligated hereunder to provide indemnification for or make any Expense
Advances with respect to the Expenses of any Claim, the Company, if appropriate,
shall be entitled to assume the defense of such Claim with counsel approved by
Indemnitee (which approval shall not be unreasonably withheld) upon the delivery
to Indemnitee of written notice of the Company's election to do so.  After
delivery of such notice, approval of such counsel by Indemnitee and the
retention of such counsel by the Company, the Company will not be liable to
Indemnitee under this Agreement for any fees or expenses of separate counsel
subsequently retained by or on behalf of Indemnitee with respect to the same
Claim; provided that, (i) Indemnitee shall have the right to employ
Indemnitee's separate counsel in any such Claim at Indemnitee's expense and
(ii) if (A) the employment of separate counsel by Indemnitee has been
previously authorized by the Company, (B) Indemnitee shall have reasonably
concluded that there may be a conflict of interest between the Company and
Indemnitee in the conduct of any such defense, or (C) the Company shall not
continue to retain such counsel to defend such Claim, then the fees and expenses
of Indemnitee's separate counsel shall be Expenses for which Indemnitee may
receive indemnification or Expense Advances hereunder.

	Additional Indemnification Rights;
Nonexclusivity.

	Scope.  the Company hereby agrees to indemnify the
Indemnitee to the fullest extent permitted by law, notwithstanding that such
indemnification is not specifically authorized by the other provisions of this
Agreement, the Company's Certificate of Incorporation, the Company's Bylaws or
by statute.  In the event of any change after the date of this Agreement in any
applicable law, statute or rule which expands the right of a Delaware
corporation to indemnify a member of its board of directors or an officer,
employee, agent or fiduciary, it is the intent of the parties hereto that
Indemnitee shall enjoy by this Agreement the greater benefits afforded by such
change.  In the event of any change in any applicable law, statute or rule which
narrows the right of a Delaware corporation to indemnify a member of its board
of directors or an officer, employee, agent or fiduciary, such change, to the
extent not otherwise required by such law, statute or rule to be applied to this
Agreement, shall have no effect on this Agreement or the parties' rights and
obligations hereunder except as set forth in Section 10(a) hereof.

	Nonexclusivity.  The indemnification and the
payment of Expense Advances provided by this Agreement shall be in addition to
any rights to which Indemnitee may be entitled under the Company's Certificate
of Incorporation, its Bylaws, any other agreement, any vote of stockholders or
disinterested directors, the General Corporation Law of the State of Delaware,
or otherwise.  The indemnification and the payment of Expense Advances provided
under this Agreement shall continue as to Indemnitee for any action taken or not
taken while serving in an indemnified capacity even though subsequent thereto
Indemnitee may have ceased to serve in such capacity.

	No Duplication of Payments.  the Company shall not
be liable under this Agreement to make any payment in connection with any Claim
made against Indemnitee to the extent Indemnitee has otherwise actually received
payment (under any insurance policy, provision of the Company's Certificate of
Incorporation, Bylaws or otherwise) of the amounts otherwise payable
hereunder.

	Partial Indemnification.  If Indemnitee is
entitled under any provision of this Agreement to indemnification by the Company
for some or a portion of Expenses incurred in connection with any Claim, but
not, however, for all of the total amount thereof, the Company shall
nevertheless indemnify Indemnitee for the portion of such Expenses to which
Indemnitee is entitled.

	Mutual Acknowledgment.  Both the Company and
Indemnitee acknowledge that in certain instances, federal law or applicable
public policy may prohibit the Company from indemnifying its directors,
officers, employees, agents or fiduciaries under this Agreement or otherwise.
Indemnitee understands and acknowledges that the Company has undertaken or may
be required in the future to undertake with the Securities and Exchange
Commission to submit the question of indemnification to a court in certain
circumstances for a determination of the Company's right under public policy to
indemnify Indemnitee.  

	Liability Insurance.  To the extent the Company
maintains liability insurance applicable to directors, officers, employees,
agents or fiduciaries, Indemnitee shall be covered by such policies in such a
manner as to provide Indemnitee the same rights and benefits as are provided to
the most favorably insured of the Company's directors, if Indemnitee is a
director; or of the Company's officers, if Indemnitee is not a director of the
Company but is an officer; or of the Company's key employees, agents or
fiduciaries, if Indemnitee is not an officer or director but is a key employee,
agent or fiduciary.

	Exceptions.  Notwithstanding any other provision
of this Agreement, the Company shall not be obligated pursuant to the terms of
this Agreement.

	Excluded Actions or Omissions.  To indemnify or
make Expense Advances to Indemnitee with respect to Claims arising out of acts,
omissions or transactions for which Indemnitee is prohibited from receiving
indemnification under applicable law.

	Claims Initiated by Indemnitee.  To indemnify or
make Expense Advances to Indemnitee with respect to Claims initiated or brought
voluntarily by Indemnitee and not by way of defense, counterclaim or cross-
claim, except (i) with respect to actions or proceedings brought to
establish or enforce a right to indemnification under this Agreement or any
other agreement or insurance policy or under the Company's Certificate of
Incorporation or Bylaws now or hereafter in effect relating to Claims for
Covered Events, (ii) in specific cases if the Board of Directors has
approved the initiation or bringing of such Claim, or (iii) as otherwise
required under Section 145 of the Delaware General Corporation Law,
regardless of whether Indemnitee ultimately is determined to be entitled to such
indemnification, Expense Advances, or insurance recovery, as the case may
be.

	Lack of Good Faith.  To indemnify Indemnitee for
any Expenses incurred by the Indemnitee with respect to any action instituted
(i) by Indemnitee to enforce or interpret this Agreement, if a court having
jurisdiction over such action determines as provided in Section 13 that
each of the material assertions made by the Indemnitee as a basis for such
action was not made in good faith or was frivolous, or (ii) by or in the
name of the Company to enforce or interpret this Agreement, if a court having
jurisdiction over such action determines as provided in Section 13 that
each of the material defenses asserted by Indemnitee in such action was made in
bad faith or was frivolous.

	Claims Under Section 16(b).  To indemnify
Indemnitee for Expenses and the payment of profits arising from the purchase and
sale by Indemnitee of securities in violation of Section 16(b) of the Securities
Exchange Act of 1934, as amended, or any similar successor
statute.

	Counterparts.  This Agreement may be executed in
one or more counterparts, each of which shall constitute an original.

	Binding Effect; Successors and Assigns.  This
Agreement shall be binding upon and inure to the benefit of and be enforceable
by the parties hereto and their respective successors, assigns (including any
direct or indirect successor by purchase, merger, consolidation or otherwise to
all or substantially all of the business or assets of the Company), spouses,
heirs and personal and legal representatives.  The Company shall require and
cause any successor (whether direct or indirect, and whether by purchase,
merger, consolidation or otherwise) to all, substantially all, or a substantial
part, of the business or assets of the Company, by written agreement in form and
substance satisfactory to Indemnitee, expressly to assume and agree to perform
this Agreement in the same manner and to the same extent that the Company would
be required to perform if no such succession had taken place.  This Agreement
shall continue in effect regardless of whether Indemnitee continues to serve as
a director, officer, employee, agent or fiduciary (as applicable) of the Company
or of any other enterprise at the Company's request.

	Expenses Incurred in Action Relating to Enforcement or
Interpretation.  In the event that any action is instituted by Indemnitee
under this Agreement or under any liability insurance policies maintained by the
Company to enforce or interpret any of the terms hereof or thereof, Indemnitee
shall be entitled to be indemnified for all Expenses incurred by Indemnitee with
respect to such action (including without limitation attorneys' fees),
regardless of whether Indemnitee is ultimately successful in such action, unless
as a part of such action a court having jurisdiction over such action makes a
final judicial determination (as to which all rights of appeal therefrom have
been exhausted or lapsed) that each of the material assertions made by
Indemnitee as a basis for such action was not made in good faith or was
frivolous; provided, however, that until such judicial determination is made,
Indemnitee shall be entitled under Section 3 to receive payment of Expense
Advances hereunder with respect to such action.  In the event of an action
instituted by or in the name of the Company under this Agreement to enforce or
interpret any of the terms of this Agreement, Indemnitee shall be entitled to be
indemnified for all Expenses incurred by Indemnitee in defense of such action
(including without limitation costs and expenses incurred with respect to
Indemnitee's counterclaims and cross-claims made in such action), unless as a
part of such action a court having jurisdiction over such action makes a final
judicial determination (as to which all rights of appeal therefrom have been
exhausted or lapsed) that each of the material defenses asserted by Indemnitee
in such action was made in bad faith or was frivolous; provided, however, that
until such final judicial determination is made, Indemnitee shall be entitled
under Section 3 to receive payment of Expense Advances hereunder with
respect to such action.

	Period of Limitations.  No legal action shall be
brought and no cause of action shall be asserted by or in the right of the
Company against Indemnitee, Indemnitee's estate, spouse, heirs, executors or
personal or legal representatives after the expiration of two years from the
date of accrual of such cause of action, and any claim or cause of action of the
Company shall be extinguished and deemed released unless asserted by the timely
filing of a legal action within such two year period; provided,
however, that if any shorter period of limitations is otherwise
applicable to any such cause of action, such shorter period shall
govern.

	Notice.  All notices, requests, demands and other
communications under this Agreement shall be in writing and shall be deemed duly
given (i) if delivered by hand and signed for by the party addressed, on
the date of such delivery, or (ii) if mailed by domestic certified or
registered mail with postage prepaid, on the third business day after the date
postmarked.  Addresses for notice to either party are as shown on the signature
page of this Agreement, or as subsequently modified by written notice.

	Consent to Jurisdiction.  The Company and
Indemnitee each hereby irrevocably consent to the jurisdiction of the courts of
the State of Delaware for all purposes in connection with any action or
proceeding which arises out of or relates to this Agreement and agree that any
action instituted under this Agreement shall be commenced, prosecuted and
continued only in the Court of Chancery of the State of Delaware in and for New
Castle County, which shall be the exclusive and only proper forum for
adjudicating such a claim.

	Severability.  The provisions of this Agreement
shall be severable in the event that any of the provisions hereof (including any
provision within a single section, paragraph or sentence) are held by a court of
competent jurisdiction to be invalid, void or otherwise unenforceable, and the
remaining provisions shall remain enforceable to the fullest extent permitted by
law.  Furthermore, to the fullest extent possible, the provisions of this
Agreement (including without limitation each portion of this Agreement
containing any provision held to be invalid, void or otherwise unenforceable,
that is not itself invalid or unenforceable) shall be construed so as to give
effect to the intent manifested by the provision held invalid, illegal or
unenforceable.

	Choice of Law.  This Agreement, and all rights,
remedies, liabilities, powers and duties of the parties to this Agreement, shall
be governed by and construed in accordance with the laws of the State of
Delaware as applied to contracts between Delaware residents entered into and to
be performed entirely in the State of Delaware without regard to principles of
conflicts of laws.

	Subrogation.  In the event of payment under this
Agreement, the Company shall be subrogated to the extent of such payment to all
of the rights of recovery of Indemnitee, who shall execute all documents
required and shall do all acts that may be necessary to secure such rights and
to enable the Company effectively to bring suit to enforce such rights.

	Amendment and Termination.  No amendment,
modification, termination or cancellation of this Agreement shall be effective
unless it is in writing signed by both the parties hereto.  No waiver of any of
the provisions of this Agreement shall be deemed to be or shall constitute a
waiver of any other provisions hereof (whether or not similar), nor shall such
waiver constitute a continuing waiver.

	Integration and Entire Agreement.  This Agreement
sets forth the entire understanding between the parties hereto and supersedes
and merges all previous written an oral negotiations, commitments,
understandings and agreements relating to the subject matter hereof between the
parties hereto.

	No Construction as Employment Agreement.  Nothing
contained in this Agreement shall be construed as giving Indemnitee any right to
be retained in the employ of the Company or any of its subsidiaries or
affiliated entities.

IN WITNESS WHEREOF, the parties hereto have executed this
Indemnification Agreement as of the date first above written

	
E-LOAN, INC.

By:/s/

Name:  Joseph Kennedy

Title:  President

Address:5875 Arnold Road, Suite 100

Dublin CA 94568

	 
	 	
AGREED TO AND ACCEPTED

INDEMNITEE:

      /s/      

(Signature)

Geoffrey M. Halverson 

Name

Address

11630 Alderhill Ter

San Diego, CA  92131

__________________________________

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00052-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00052-of-00352.parquet"}]]