Document:

EXHIBIT 4.1

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

                                  CWALT, INC.,
                                    Depositor

                          COUNTRYWIDE HOME LOANS, INC.,
                                     Seller

                                PARK GRANADA LLC,
                                     Seller

                                PARK MONACO INC.,
                                     Seller

                                PARK SIENNA LLC,
                                     Seller

                      COUNTRYWIDE HOME LOANS SERVICING LP,
                                 Master Servicer

                                       and
                              THE BANK OF NEW YORK,
                                     Trustee

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

                         POOLING AND SERVICING AGREEMENT
                             Dated as of May 1, 2007

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

                         ALTERNATIVE LOAN TRUST 2007-OH1

               MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2007-OH1

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

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                                Table of Contents
                                                                                                               Page

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ARTICLE I         DEFINITIONS

   SECTION 1.01.        DEFINED TERMS............................................................................18
   SECTION 1.02.        CERTAIN INTERPRETIVE PRINCIPLES..........................................................52

ARTICLE II        CONVEYANCE OF MORTGAGE LOANS; REPRESENTATIONS AND WARRANTIES

   SECTION 2.01.        CONVEYANCE OF MORTGAGE LOANS.............................................................53
   SECTION 2.02.        ACCEPTANCE BY TRUSTEE OF THE MORTGAGE LOANS..............................................60
   SECTION 2.03.        REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE SELLERS
                        AND MASTER SERVICER......................................................................64
   SECTION 2.04.        REPRESENTATIONS AND WARRANTIES OF THE DEPOSITOR AS TO THE MORTGAGE LOANS.................66
   SECTION 2.05.        DELIVERY OF OPINION OF COUNSEL IN CONNECTION WITH SUBSTITUTIONS..........................67
   SECTION 2.06.        EXECUTION AND DELIVERY OF CERTIFICATES...................................................67
   SECTION 2.07.        REMIC MATTERS............................................................................68
   SECTION 2.08.        COVENANTS OF THE MASTER SERVICER.........................................................68

ARTICLE III       ADMINISTRATION AND SERVICING OF MORTGAGE LOANS

   SECTION 3.01.        MASTER SERVICER TO SERVICE MORTGAGE LOANS................................................69
   SECTION 3.02.        SUBSERVICING; ENFORCEMENT OF THE OBLIGATIONS OF SUBSERVICERS.............................70
   SECTION 3.03.        RIGHTS OF THE DEPOSITOR AND THE TRUSTEE IN RESPECT OF THE MASTER SERVICER................70
   SECTION 3.04.        TRUSTEE TO ACT AS MASTER SERVICER........................................................71
   SECTION 3.05.        COLLECTION OF MORTGAGE LOAN PAYMENTS; CERTIFICATE ACCOUNT; DISTRIBUTION ACCOUNT;
                        PRE-FUNDING ACCOUNT; CAPITALIZED INTEREST ACCOUNT; CARRYOVER SHORTFALL RESERVE
                        FUND.....................................................................................71
   SECTION 3.06.        COLLECTION OF TAXES, ASSESSMENTS AND SIMILAR ITEMS; ESCROW ACCOUNTS......................75
   SECTION 3.07.        ACCESS TO CERTAIN DOCUMENTATION AND INFORMATION REGARDING THE MORTGAGE LOANS.............76
   SECTION 3.08.        PERMITTED WITHDRAWALS FROM THE CERTIFICATE ACCOUNT; THE DISTRIBUTION ACCOUNT AND
                        THE CARRYOVER SHORTFALL RESERVE FUND.....................................................76
   SECTION 3.09.        MAINTENANCE OF HAZARD INSURANCE; MAINTENANCE OF PRIMARY INSURANCE POLICIES...............78
   SECTION 3.10.        ENFORCEMENT OF DUE-ON-SALE CLAUSES; ASSUMPTION AGREEMENTS................................79
   SECTION 3.11.        REALIZATION UPON DEFAULTED MORTGAGE LOANS; REPURCHASE OF CERTAIN MORTGAGE LOANS..........81
   SECTION 3.12.        TRUSTEE TO COOPERATE; RELEASE OF MORTGAGE FILES..........................................84
   SECTION 3.13.        DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR THE
                        TRUSTEE..................................................................................85
   SECTION 3.14.        SERVICING COMPENSATION...................................................................86
   SECTION 3.15.        ACCESS TO CERTAIN DOCUMENTATION..........................................................86
   SECTION 3.16.        ANNUAL STATEMENT AS TO COMPLIANCE........................................................86
   SECTION 3.17.        ERRORS AND OMISSIONS INSURANCE; FIDELITY BONDS...........................................87
   SECTION 3.18.        NOTIFICATION OF ADJUSTMENTS..............................................................87
   SECTION 3.19.        [RESERVED]...............................................................................87
   SECTION 3.20.        PREPAYMENT CHARGES.......................................................................87
   SECTION 3.21.        SWAP CONTRACT............................................................................88

ARTICLE IV        DISTRIBUTIONS AND ADVANCES BY THE MASTER SERVICER

   SECTION 4.01.        ADVANCES.................................................................................91
   SECTION 4.02.        PRIORITIES OF DISTRIBUTION...............................................................92
   SECTION 4.03.        ALLOCATION OF NET DEFERRED INTEREST......................................................98
   SECTION 4.04.        ALLOCATION OF REALIZED LOSSES............................................................98
   SECTION 4.05.        [RESERVED]...............................................................................99
   SECTION 4.06.        MONTHLY STATEMENTS TO CERTIFICATEHOLDERS.................................................99

                                                         i
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   SECTION 4.07.        [RESERVED]..............................................................................100
   SECTION 4.08.        DETERMINATION OF PASS-THROUGH RATES FOR LIBOR CERTIFICATES..............................100
   SECTION 4.09.        SWAP TRUST AND SWAP ACCOUNT.............................................................101

ARTICLE V         THE CERTIFICATES

   SECTION 5.01.        THE CERTIFICATES........................................................................103
   SECTION 5.02.        CERTIFICATE REGISTER; REGISTRATION OF TRANSFER AND EXCHANGE OF CERTIFICATES.............103
   SECTION 5.03.        MUTILATED, DESTROYED, LOST OR STOLEN CERTIFICATES.......................................108
   SECTION 5.04.        PERSONS DEEMED OWNERS...................................................................108
   SECTION 5.05.        ACCESS TO LIST OF CERTIFICATEHOLDERS' NAMES AND ADDRESSES...............................109
   SECTION 5.06.        MAINTENANCE OF OFFICE OR AGENCY.........................................................109

ARTICLE VI        THE DEPOSITOR AND THE MASTER SERVICER

   SECTION 6.01.        RESPECTIVE LIABILITIES OF THE DEPOSITOR AND THE MASTER SERVICER.........................110
   SECTION 6.02.        MERGER OR CONSOLIDATION OF THE DEPOSITOR OR THE MASTER SERVICER.........................110
   SECTION 6.03.        LIMITATION ON LIABILITY OF THE DEPOSITOR, THE SELLERS, THE MASTER SERVICER AND
                        OTHERS..................................................................................110
   SECTION 6.04.        LIMITATION ON RESIGNATION OF MASTER SERVICER............................................111

ARTICLE VII       DEFAULT

   SECTION 7.01.        EVENTS OF DEFAULT.......................................................................112
   SECTION 7.02.        TRUSTEE TO ACT; APPOINTMENT OF SUCCESSOR................................................114
   SECTION 7.03.        NOTIFICATION TO CERTIFICATEHOLDERS......................................................115

ARTICLE VIII      CONCERNING THE TRUSTEE

   SECTION 8.01.        DUTIES OF TRUSTEE.......................................................................116
   SECTION 8.02.        CERTAIN MATTERS AFFECTING THE TRUSTEE...................................................117
   SECTION 8.03.        TRUSTEE NOT LIABLE FOR CERTIFICATES OR MORTGAGE LOANS...................................118
   SECTION 8.04.        TRUSTEE MAY OWN CERTIFICATES............................................................118
   SECTION 8.05.        TRUSTEE'S FEES AND EXPENSES.............................................................119
   SECTION 8.06.        ELIGIBILITY REQUIREMENTS FOR TRUSTEE....................................................119
   SECTION 8.07.        RESIGNATION AND REMOVAL OF TRUSTEE......................................................120
   SECTION 8.08.        SUCCESSOR TRUSTEE.......................................................................121
   SECTION 8.09.        MERGER OR CONSOLIDATION OF TRUSTEE......................................................121
   SECTION 8.10.        APPOINTMENT OF CO-TRUSTEE OR SEPARATE TRUSTEE...........................................122
   SECTION 8.11.        TAX MATTERS.............................................................................123
   SECTION 8.12.        MONITORING OF SIGNIFICANCE PERCENTAGE...................................................125

ARTICLE IX        TERMINATION

   SECTION 9.01.        TERMINATION UPON LIQUIDATION OR PURCHASE OF ALL MORTGAGE LOANS..........................127
   SECTION 9.02.        FINAL DISTRIBUTION ON THE CERTIFICATES..................................................127
   SECTION 9.03.        ADDITIONAL TERMINATION REQUIREMENTS.....................................................128

ARTICLE X         MISCELLANEOUS PROVISIONS

   SECTION 10.01.       AMENDMENT...............................................................................129
   SECTION 10.02.       RECORDATION OF AGREEMENT; COUNTERPARTS..................................................131
   SECTION 10.03.       GOVERNING LAW...........................................................................131
   SECTION 10.04.       INTENTION OF PARTIES....................................................................131
   SECTION 10.05.       NOTICES.................................................................................133
   SECTION 10.06.       SEVERABILITY OF PROVISIONS..............................................................134
   SECTION 10.07.       ASSIGNMENT..............................................................................134
   SECTION 10.08.       LIMITATION ON RIGHTS OF CERTIFICATEHOLDERS..............................................135
   SECTION 10.09.       INSPECTION AND AUDIT RIGHTS.............................................................135
   SECTION 10.10.       CERTIFICATES NONASSESSABLE AND FULLY PAID...............................................136
   SECTION 10.11.       [RESERVED]..............................................................................136
   SECTION 10.12.       PROTECTION OF ASSETS....................................................................136

                                                         ii
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ARTICLE XI        EXCHANGE ACT REPORTING

   SECTION 11.01.       FILING OBLIGATIONS......................................................................136
   SECTION 11.02.       FORM 10-D FILINGS.......................................................................137
   SECTION 11.03.       FORM 8-K FILINGS........................................................................138
   SECTION 11.04.       FORM 10-K FILINGS.......................................................................138
   SECTION 11.05.       SARBANES-OXLEY CERTIFICATION............................................................139
   SECTION 11.06.       FORM 15 FILING..........................................................................139
   SECTION 11.07.       REPORT ON ASSESSMENT OF COMPLIANCE AND ATTESTATION......................................139
   SECTION 11.08.       USE OF SUBSERVICERS AND SUBCONTRACTORS..................................................141
   SECTION 11.09.       AMENDMENTS..............................................................................142
   SECTION 11.10.       RECONCILIATION OF ACCOUNTS..............................................................142

                                    SCHEDULES
Schedule I:                Mortgage Loan Schedule.............................................................S-I-1
Schedule II-A:             Representations and Warranties of Countrywide...................................S-II-A-1
Schedule II-B:             Representations and Warranties of Park Granada..................................S-II-B-1
Schedule II-C:             Representations and Warranties of Park Monaco...................................S-II-C-1
Schedule II-D              Representations and Warranties of Park Sienna...................................S-II-D-1
Schedule III-A:            Representations and Warranties of Countrywide as to all
                           of the Mortgage Loans..........................................................S-III-A-1
Schedule III-B:            Representations and Warranties of Countrywide as to the
                           Countrywide Mortgage Loans.....................................................S-III-B-1
Schedule III-C:            Representations and Warranties of Park Granada as to the
                           Park Granada Mortgage Loans....................................................S-III-C-1
Schedule III-D:            Representations and Warranties of Park Monaco
                           as to the Park Monaco Mortgage Loans...........................................S-III-D-1
Schedule III-E:            Representations and Warranties of Park Sienna
                           as to the Park Sienna Mortgage Loans...........................................S-III-E-1
Schedule IV:               Representations and Warranties of the Master Servicer.............................S-IV-1
Schedule V:                Principal Balance Schedules [if applicable]........................................S-V-1
Schedule VI:               Form of Monthly Master Servicer Report............................................S-VI-1

                                    EXHIBITS

Exhibit A:                 Form of Senior Certificate (other than Notional Amount
                           Certificates)........................................................................A-1
Exhibit B:                 Form of Subordinated Certificate.....................................................B-1
Exhibit C-1:               Form of Residual Certificate.......................................................C-1-1
Exhibit C-2:               [Reserved].........................................................................C-2-1
Exhibit D:                 Form of Notional Amount Certificate..................................................D-1
Exhibit E:                 Form of Reverse of Certificates......................................................E-1
Exhibit F-1:               Form of Initial Certification of Trustee (Initial Mortgage Loans)..................F-1-1
Exhibit F-2:               Form of Initial Certification of Trustee (Supplemental Mortgage Loans).............F-2-1
Exhibit G-1:               Form of Delay Delivery Certification (Initial Mortgage Loans)......................G-1-1
Exhibit G-2:               Form of Delay Delivery Certification (Supplemental Mortgage Loans).................G-2-1

                                                        iii
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Exhibit H-1:               Form of Final Certification of Trustee (Initial Mortgage Loans)....................H-1-1
Exhibit H-2:               Form of Final Certification of Trustee (Supplemental Mortgage Loans)...............H-2-1
Exhibit I:                 Form of Transfer Affidavit...........................................................I-1
Exhibit J-1:               Form of Transferor Certificate (Residual)..........................................J-1-1
Exhibit J-2:               Form of Transferor Certificate (Private)...........................................J-2-1
Exhibit K:                 Form of Investment Letter [Non-Rule 144A]............................................K-1
Exhibit L-1:               Form of Rule 144A Letter...........................................................L-1-1
Exhibit L-2:               Form of ERISA Letter (Covered Certificates)........................................L-2-1
Exhibit M:                 Form of Request for Release (for Trustee)............................................M-1
Exhibit N:                 Form of Request for Release of Documents (Mortgage Loan
                           Paid in Full, Repurchased and Replaced)..............................................N-1
Exhibit O:                 Standard & Poor's LEVELS(R) Version 5.7 Glossary Revised,
                           Appendix E...........................................................................O-1
Exhibit P:                 Form of Supplemental Transfer Agreement..............................................P-1
Exhibit Q:                 Monthly Report.......................................................................Q-1
Exhibit R-1:               Form of Performance Certification (Subservicer)....................................R-1-1
Exhibit R-2:               Form of Performance Certification (Trustee)........................................R-2-1
Exhibit S:                 Form of Servicing Criteria to be Addressed in Assessment of
                           Compliance Statement.................................................................S-1
Exhibit T:                 List of Item 1119 Parties............................................................T-1
Exhibit U:                 Form of Sarbanes-Oxley Certification (Replacement Master Servicer)...................U-1
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                                                         iv
<PAGE>

      THIS POOLING AND SERVICING AGREEMENT, dated as of May 1, 2007, among
CWALT, INC., a Delaware corporation, as depositor (the "Depositor"),
COUNTRYWIDE HOME LOANS, INC. ("Countrywide"), a New York corporation, as a
seller (a "Seller"), PARK GRANADA LLC ("Park Granada"), a Delaware limited
liability company, as a seller (a "Seller"), PARK MONACO INC. ("Park Monaco"),
a Delaware corporation, as a seller (a "Seller"), PARK SIENNA LLC ("Park
Sienna"), a Delaware limited liability company, as a seller (a "Seller"),
COUNTRYWIDE HOME LOANS SERVICING LP, a Texas limited partnership, as master
servicer (the "Master Servicer"), and THE BANK OF NEW YORK, a banking
corporation organized under the laws of the State of New York, as trustee (the
"Trustee").

                                 WITNESSETH THAT

      In consideration of the mutual agreements contained in this Agreement,
the parties to this Agreement agree as follows:

                              PRELIMINARY STATEMENT

      The Depositor is the owner of the Trust Fund that is hereby conveyed to
the Trustee in return for the Certificates. As provided herein, the Trustee
will elect that the Trust Fund (excluding the Carryover Shortfall Reserve
Fund) be treated for federal income tax purposes as three real estate mortgage
investment conduits (each a "REMIC," or in the alternative, the Swap-IO REMIC,
the "Expanding Strip ("ES") REMIC," and the "Master REMIC," respectively). The
Master REMIC will hold as assets the several classes of uncertificated ES
REMIC Interests (other than the Class ES-A-R Interest). Each Certificate,
other than the Class A-R Certificate, will represent ownership of one or more
REMIC regular interests in the Master REMIC. The Class A-R Certificate will
represent ownership of the sole class of REMIC residual interest in each of
the Swap-IO REMIC, the ES REMIC and the Master REMIC. The ES REMIC will hold
as assets the several classes of uncertificated Swap-IO REMIC Interests (other
than the Class SW-A-R Interest). The uncertificated ES REMIC Interests (other
than the Class ES-A-R Interest) are designated as REMIC regular interests in
the ES REMIC. The ES-A-R Interest is designated as the sole Class of REMIC
residual interest in the ES REMIC. The Swap-IO REMIC will hold as assets all
the assets of the Trust Fund (excluding the Carryover Shortfall Reserve Fund).
The uncertificated Swap-IO REMIC Interests (other than the Class SW-A-R
Interest) are designated as REMIC regular interests in the Swap-IO REMIC. The
SW-A-R Interest is designated as the sole Class of REMIC residual interest in
the Swap-IO REMIC. The "latest possible maturity date," for federal income tax
purposes, of all REMIC regular interests created hereby will be the Latest
Possible Maturity Date. None of the REMICs described herein shall hold any
interest in the Swap Trust, Swap Contract or Swap Account.

      The following table specifies the Class designation, interest rate, and
principal amount for each Class of Swap-IO REMIC Interests:

Swap-IO REMIC Interest         Initial Principal Balance(1)    Pass-Through Rate
----------------------         -------------------------       ----------------
        SWR-1A                      $ 8,596,050.00                  (2)

<PAGE>

Swap-IO REMIC Interest         Initial Principal Balance(1)    Pass-Through Rate
----------------------         -------------------------       ----------------
        SWR-1B                      $ 8,596,050.00                  (3)

        SWR-2A                      $ 8,292,950.00                  (2)

        SWR-2B                      $ 8,292,950.00                  (3)

        SWR-3A                      $ 8,000,500.00                  (2)

        SWR-3B                      $ 8,000,500.00                  (3)

        SWR-4A                      $ 7,718,400.00                  (2)

        SWR-4B                      $ 7,718,400.00                  (3)

        SWR-5A                      $ 7,446,200.00                  (2)

        SWR-5B                      $ 7,446,200.00                  (3)

        SWR-6A                      $ 7,183,650.00                  (2)

        SWR-6B                      $ 7,183,650.00                  (3)

        SWR-7A                      $ 6,930,350.00                  (2)

        SWR-7B                      $ 6,930,350.00                  (3)

        SWR-8A                      $ 6,685,950.00                  (2)

        SWR-8B                      $ 6,685,950.00                  (3)

        SWR-9A                      $ 6,450,200.00                  (2)

        SWR-9B                      $ 6,450,200.00                  (3)

        SWR-10A                     $ 6,222,750.00                  (2)

        SWR-10B                     $ 6,222,750.00                  (3)

        SWR-11A                     $ 6,003,350.00                  (2)

        SWR-11B                     $ 6,003,350.00                  (3)

        SWR-12A                     $ 5,791,650.00                  (2)

        SWR-12B                     $ 5,791,650.00                  (3)

                                        2
<PAGE>

Swap-IO REMIC Interest         Initial Principal Balance(1)    Pass-Through Rate
----------------------         -------------------------       ----------------
        SWR-13A                     $ 5,587,450.00                  (2)

        SWR-13B                     $ 5,587,450.00                  (3)

        SWR-14A                     $ 5,390,400.00                  (2)

        SWR-14B                     $ 5,390,400.00                  (3)

        SWR-15A                     $ 5,200,350.00                  (2)

        SWR-15B                     $ 5,200,350.00                  (3)

        SWR-16A                     $ 5,016,950.00                  (2)

        SWR-16B                     $ 5,016,950.00                  (3)

        SWR-17A                     $ 4,840,050.00                  (2)

        SWR-17B                     $ 4,840,050.00                  (3)

        SWR-18A                     $ 4,669,400.00                  (2)

        SWR-18B                     $ 4,669,400.00                  (3)

        SWR-19A                     $ 4,504,750.00                  (2)

        SWR-19B                     $ 4,504,750.00                  (3)

        SWR-20A                     $ 4,345,900.00                  (2)

        SWR-20B                     $ 4,345,900.00                  (3)

        SWR-21A                     $ 4,192,650.00                  (2)

        SWR-21B                     $ 4,192,650.00                  (3)

        SWR-22A                     $ 4,044,800.00                  (2)

        SWR-22B                     $ 4,044,800.00                  (3)

        SWR-23A                     $ 3,902,150.00                  (2)

        SWR-23B                     $ 3,902,150.00                  (3)

        SWR-24A                     $ 3,764,550.00                  (2)

                                        3
<PAGE>

Swap-IO REMIC Interest         Initial Principal Balance(1)    Pass-Through Rate
----------------------         -------------------------       ----------------
        SWR-24B                     $ 3,764,550.00                  (3)

        SWR-25A                     $ 3,631,850.00                  (2)

        SWR-25B                     $ 3,631,850.00                  (3)

        SWR-26A                     $ 3,503,750.00                  (2)

        SWR-26B                     $ 3,503,750.00                  (3)

        SWR-27A                     $ 3,380,200.00                  (2)

        SWR-27B                     $ 3,380,200.00                  (3)

        SWR-28A                     $ 3,261,000.00                  (2)

        SWR-28B                     $ 3,261,000.00                  (3)

        SWR-29A                     $ 3,146,050.00                  (2)

        SWR-29B                     $ 3,146,050.00                  (3)

        SWR-30A                     $ 3,035,100.00                  (2)

        SWR-30B                     $ 3,035,100.00                  (3)

        SWR-31A                     $ 2,928,050.00                  (2)

        SWR-31B                     $ 2,928,050.00                  (3)

        SWR-32A                     $ 2,824,800.00                  (2)

        SWR-32B                     $ 2,824,800.00                  (3)

        SWR-33A                     $ 2,725,200.00                  (2)

        SWR-33B                     $ 2,725,200.00                  (3)

        SWR-34A                     $ 2,629,100.00                  (2)

        SWR-34B                     $ 2,629,100.00                  (3)

        SWR-35A                     $ 2,536,400.00                  (2)

        SWR-35B                     $ 2,536,400.00                  (3)

                                        4
<PAGE>

Swap-IO REMIC Interest         Initial Principal Balance(1)    Pass-Through Rate
----------------------         -------------------------       ----------------
        SWR-36A                     $ 2,446,950.00                  (2)

        SWR-36B                     $ 2,446,950.00                  (3)

        SWR-37A                     $ 2,360,700.00                  (2)

        SWR-37B                     $ 2,360,700.00                  (3)

        SWR-38A                     $ 2,277,450.00                  (2)

        SWR-38B                     $ 2,277,450.00                  (3)

        SWR-39A                     $ 2,197,150.00                  (2)

        SWR-39B                     $ 2,197,150.00                  (3)

        SWR-40A                     $ 2,119,650.00                  (2)

        SWR-40B                     $ 2,119,650.00                  (3)

        SWR-41A                     $ 2,044,900.00                  (2)

        SWR-41B                     $ 2,044,900.00                  (3)

        SWR-42A                     $ 1,972,800.00                  (2)

        SWR-42B                     $ 1,972,800.00                  (3)

        SWR-43A                     $ 1,903,250.00                  (2)

        SWR-43B                     $ 1,903,250.00                  (3)

        SWR-44A                     $ 1,836,150.00                  (2)

        SWR-44B                     $ 1,836,150.00                  (3)

        SWR-45A                     $ 1,771,400.00                  (2)

        SWR-45B                     $ 1,771,400.00                  (3)

        SWR-46A                     $ 1,708,950.00                  (2)

        SWR-46B                     $ 1,708,950.00                  (3)

        SWR-47A                     $ 1,648,650.00                  (2)

                                        5
<PAGE>

Swap-IO REMIC Interest         Initial Principal Balance(1)    Pass-Through Rate
----------------------         -------------------------       ----------------
        SWR-47B                     $ 1,648,650.00                  (3)

        SWR-48A                     $ 1,590,550.00                  (2)

        SWR-48B                     $ 1,590,550.00                  (3)

        SWR-49A                     $ 1,534,450.00                  (2)

        SWR-49B                     $ 1,534,450.00                  (3)

        SWR-50A                     $ 1,480,350.00                  (2)

        SWR-50B                     $ 1,480,350.00                  (3)

        SWR-51A                     $ 1,428,150.00                  (2)

        SWR-51B                     $ 1,428,150.00                  (3)

        SWR-52A                     $ 1,377,800.00                  (2)

        SWR-52B                     $ 1,377,800.00                  (3)

        SWR-53A                     $ 1,329,200.00                  (2)

        SWR-53B                     $ 1,329,200.00                  (3)

        SWR-54A                     $ 1,282,350.00                  (2)

        SWR-54B                     $ 1,282,350.00                  (3)

        SWR-55A                     $ 1,237,100.00                  (2)

        SWR-55B                     $ 1,237,100.00                  (3)

        SWR-56A                     $ 1,193,500.00                  (2)

        SWR-56B                     $ 1,193,500.00                  (3)

        SWR-57A                     $ 1,151,400.00                  (2)

        SWR-57B                     $ 1,151,400.00                  (3)

        SWR-58A                     $ 1,110,800.00                  (2)

        SWR-58B                     $ 1,110,800.00                  (3)

                                        6
<PAGE>

Swap-IO REMIC Interest         Initial Principal Balance(1)    Pass-Through Rate
----------------------         -------------------------       ----------------
        SWR-59A                     $ 1,071,650.00                  (2)

        SWR-59B                     $ 1,071,650.00                  (3)

        SWR-60A                     $ 1,033,850.00                  (2)

        SWR-60B                     $ 1,033,850.00                  (3)

        SWR-61A                    $ 28,285,200.00                  (2)

        SWR-61B                    $ 28,285,200.00                  (3)

        SWR-Support                            (4)                  (5)
        SWR-P                      $        100.00                  (6)
        SW-A-R                                  (7)                 (7)

------------------
(1)    Scheduled principal, prepayments and Realized Losses will be allocated
       first, to the SWR-Support Interest and second, to the numbered classes
       sequentially (from lowest to highest). Amounts so allocated to a numbered
       class shall be further allocated among the "A" and "B" components of such
       numbered class pro-rata until the entire class is reduced to zero.

(2)    Prior to the 62nd Distribution Date, a rate equal to twice the Pool WAC
       less 10.24% per annum (but not less than 0.00%). On and after the 62nd
       Distribution Date a rate equal to the Pool WAC. The "Pool WAC" means the
       weighted average of the Adjusted Net Mortgage Rates of all the Mortgage
       Loans.

(3)    Prior to the 62nd Distribution Date, a rate equal to the lesser of (i)
       10.24% per annum and (ii) twice the Pool WAC. On and after the 62nd
       Distribution Date, a rate equal to the Pool WAC.

(4)    On the Closing Date and on each Distribution Date, following the
       allocation of Principal Amounts and Realized Losses, the principal
       balance in respect of the SWR-Support Interest will equal the excess of
       (a) the principal balance of the Mortgage Loans (as of the end of the
       related Due Period, reduced by principal prepayments received after such
       Due Period that are to be distributed on such Distribution Date) over (b)
       the principal balance in respect of the remaining Swap-IO REMIC Interests
       other than the SWR-P and the SWR-A-R Interests.

(5)    A rate equal to the Pool WAC.

(6)    On each Distribution Date the Class SWR-P Interest is entitled to all
       Prepayment Charges collected with respect to the Mortgage Loans. It pays
       no interest.

(7)    The Class SW-A-R Interest is the sole class of residual interest in the
       Swap-IO REMIC. It has no principal and pays no principal or interest.

         On each Distribution Date, the Interest Funds and the Principal
Distribution Amount payable with respect to the Mortgage Loans shall be payable
with respect to the Swap-IO REMIC Interests in the following manner:

                                        7
<PAGE>

         (1) Interest. Interest is to be distributed with respect to each
Swap-IO REMIC Interest at the rate, or according to the formulas, described
above.

         (2) Principal. Principal Distribution Amounts shall be allocated among
the Swap-IO REMIC Interests as described above.

         (3) Prepayment Penalties. All Prepayment Charges are allocated to the
SWR-P Interest.

                                        8
<PAGE>

         The following table specifies the Class designation, interest rate, and
principal amount for each Class of ES REMIC Interests:

-------------------------------------------------------------------------------
 Expanding Strip        Initial Principal      Interest         Corresponding
 REMIC Interest              Balance             Rate           Master REMIC
                                                                Certificate
-------------------------------------------------------------------------------
ES-SR-A-1-A                     (1)               (3)           Class A-1-A
-------------------------------------------------------------------------------
ES-SR-A-1-B                     (1)               (3)           Class A-1-B
-------------------------------------------------------------------------------
ES-SR-A-1-C                     (1)               (3)           Class A-1-C
-------------------------------------------------------------------------------
ES-SR-A-1-D                     (1)               (3)           Class A-1-D
-------------------------------------------------------------------------------
ES-SR-A-2-A                     (1)               (3)           Class A-2-A
-------------------------------------------------------------------------------
ES-SR-A-2-B                     (1)               (3)           Class A-2-B
-------------------------------------------------------------------------------
ES-SR-A-2-C                     (1)               (3)           Class A-2-C
-------------------------------------------------------------------------------
ES-SR-A-2-D                     (1)               (3)           Class A-2-D
-------------------------------------------------------------------------------
ES-SR-A-3                       (1)               (3)            Class A-3
-------------------------------------------------------------------------------
ES-X-1-Accrual                  (1)               (3)               N/A
-------------------------------------------------------------------------------
ES-$100                        $100               (3)            Class A-R
-------------------------------------------------------------------------------
ES-SB-M-1                       (2)               (3)            Class M-1
-------------------------------------------------------------------------------
ES-SB-M-2                       (2)               (3)            Class M-2
-------------------------------------------------------------------------------
ES-SB-M-3                       (2)               (3)            Class M-3
-------------------------------------------------------------------------------
ES-SB-M-4                       (2)               (3)            Class M-4
-------------------------------------------------------------------------------
ES-SB-M-5                       (2)               (3)            Class M-5
-------------------------------------------------------------------------------
ES-SB-M-6                       (2)               (3)            Class M-6
-------------------------------------------------------------------------------
ES-SB-M-7                       (2)               (3)            Class M-7
-------------------------------------------------------------------------------
ES-SB-M-8                       (2)               (3)            Class M-8
-------------------------------------------------------------------------------
ES-SB-M-9                       (2)               (3)            Class M-9
-------------------------------------------------------------------------------
ES-SB-B-1                       (2)               (3)            Class B-1
-------------------------------------------------------------------------------
ES-SB-B-2                       (2)               (3)            Class B-2
-------------------------------------------------------------------------------
ES-SB-B-3                       (2)               (3)            Class B-3
-------------------------------------------------------------------------------
ES-X-2-Accrual                  (2)               (3)               N/A
-------------------------------------------------------------------------------
ES-Swap IO                      (4)               (4)               N/A
-------------------------------------------------------------------------------
ES-A-R                          (5)               (5)               N/A
-------------------------------------------------------------------------------
ES-P                            $100              (6)            Class X-P
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
(1)    Each Class ES-SR Interest has a principal balance that is initially equal
       to 50% of its Corresponding Certificate Class issued by the Master REMIC.
       The Class ES-X-1-Accrual Interest has a principal balance that is
       initially equal to the aggregate of the initial principal balances of the
       Class ES-SR Interests.

(2)    Each Class ES-SB Interest has a principal balance that is initially equal
       to 50% of its Corresponding Certificate Class issued by the Master REMIC.
       The Class ES-X-2- Accrual Interest has a principal balance that is
       initially equal to the aggregate of the initial principal balances of the
       Class ES-SB Interests.

(3)    The Pass-Through Rate will equal the weighted average of the Pass-Through
       Rates of the Swap IO REMIC Interests treating each "B" interest as capped
       at a rate equal to the product of (i) 2 and (ii) LIBOR on each
       Distribution Date whose cardinal number preceding such designation (e.g.,
       -1, -2, -3) is not exceeded by the ordinal number of the

                                        9
<PAGE>

       Distribution Date following the Closing Date (e.g., first, second,
       third) for such Distribution Date (the "REMIC Cap").

(4)    For each Distribution Date, the Class ES-Swap IO Interest shall be
       entitled to receive from each "B" interest whose cardinal number
       preceding such designation (e.g., -1, -2, -3) is not exceeded by the
       ordinal number of the Distribution Date following the Closing Date (e.g.,
       first, second, third) for such Distribution Date, the interest accruing
       on such Interest in excess of an amount of interest accruing on such
       Interest's balance at a rate equal to the excess of (1) 10.24%, over (2)
       the product of: (a) 2 and (b) LIBOR.

(5)    The Class ES-A-R Interest is the sole Class of residual interest in the
       ES REMIC. It pays no interest or principal.

(6)    The Class ES-P Interest is entitled all Prepayment Charges paid on the
       Mortgage Loans and all Master Servicer Prepayment Charge Amounts.

         On each Distribution Date, the Available Funds payable with respect to
the Mortgage Loans and all prepayment charges and any Master Servicer Prepayment
Charge Amounts for such Distribution Date shall be distributed with respect to
the ES REMIC Interests in the following manner:

         (1) Interest. Interest is to be distributed with respect to each ES
REMIC Interest at the rate, or according to the formulas, described above; and

         (2) Principal. Principal payments, both scheduled and prepaid, Realized
Losses, Subsequent Recoveries and interest accruing on the Mortgage Loans will
be allocated (a) to each Class ES-SR and ES-SB Interest so as to maintain its
size relative to its Corresponding Certificate Class (that is, 50%) with any
excess payments of principal, Realized Losses, Subsequent Recoveries and
interest accruing on the Mortgage Loans being allocated (b) to (i) the Class
ES-X-1-Accrual Interest so as to cause the principal balance of the Class
ES-X-1-Accrual Interest to have a principal balance equal to the sum of (A) the
aggregate principal balance of the Class ES-SR Interests and (B) 100% of the Net
Deferred Interest allocated to the Class X-P PO-1 Component of the Class X-P
Certificates and (ii) the Class ES-X-2-Accrual Interest so as to cause the
principal balance of the Class ES-X-2-Accrual Interest to have a principal
balance equal to the sum of (A) the principal balance of the Class ES-SB
Interests and (B) 100% of the Net Deferred Interest allocated to the Class X-P
PO-2 Component of the Class X-P Certificates. For purposes of clauses (a) and
(b) in the immediately preceding sentence, the principal balances of the
Corresponding Certificate Classes will be adjusted as if any excess of LIBOR
plus the related Pass-Through Margin subject to a cap equal to the REMIC Cap
over the Net Rate Cap for such Class of Certificates and any Distribution Date,
to the extent attributable to Net Deferred Interest, were treated as deferred
interest that is added to the principal balances of such Certificates.

         (3) Prepayment Charges. Any Prepayment Charges paid on the Mortgage
Loans and any Master Servicer Prepayment Charge Amounts will be allocated to the
Class ES-P Interest.

                                       10
<PAGE>

      The following table sets forth characteristics of the Certificates,
together with minimum denominations and integral multiples in excess thereof
in which such Classes shall be issued (except that one Residual Certificate
representing the Tax Matters Person Certificate may be issued in a different
amount for each Class of REMIC Interest):

<TABLE>
<CAPTION>
===================================================================================================================
                                                       Pass-                                          Integral
                             Initial Class            Through                                         Multiples
   Class                      Certificate               Rate               Minimum                  in Excess of
Designation                     Balance              (per annum)          Denomination                 Minimum
-------------------------------------------------------------------------------------------------------------------
<S>                     <C>                            <C>                <C>                          <C>
Class A-1-A             $     34,120,000                 (1)              $ 25,000.00                  $1.00
-------------------------------------------------------------------------------------------------------------------
Class A-1-B             $     84,096,000                 (1)              $ 25,000.00                  $1.00
-------------------------------------------------------------------------------------------------------------------
Class A-1-C             $     11,203,000                 (1)              $ 25,000.00                  $1.00
-------------------------------------------------------------------------------------------------------------------
Class A-1-D             $    146,322,000                 (1)              $ 25,000.00                  $1.00
-------------------------------------------------------------------------------------------------------------------
Class A-2-A             $     15,072,000                 (1)              $ 25,000.00                  $1.00
-------------------------------------------------------------------------------------------------------------------
Class A-2-B             $     37,149,000                 (1)              $ 25,000.00                  $1.00
-------------------------------------------------------------------------------------------------------------------
Class A-2-C             $      4,949,000                 (1)              $ 25,000.00                  $1.00
-------------------------------------------------------------------------------------------------------------------
Class A-2-D             $     57,721,000                 (1)              $ 25,000.00                  $1.00
-------------------------------------------------------------------------------------------------------------------
Class A-3               $     68,935,000                 (1)              $ 25,000.00                  $1.00
-------------------------------------------------------------------------------------------------------------------
Class A-R               $            100                 (2)                  (3)                       (3)
-------------------------------------------------------------------------------------------------------------------
Class X-P               $    507,808,816(4)           (5)(6)(7)           $100,000.00(8)               $1.00(8)
-------------------------------------------------------------------------------------------------------------------
Class M-1               $     11,171,000                 (1)              $ 25,000.00                  $1.00
-------------------------------------------------------------------------------------------------------------------
Class M-2               $      7,363,000                 (1)              $ 25,000.00                  $1.00
-------------------------------------------------------------------------------------------------------------------
Class M-3               $      3,301,000                 (1)              $ 25,000.00                  $1.00
-------------------------------------------------------------------------------------------------------------------
Class M-4               $      3,555,000                 (1)              $ 25,000.00                  $1.00
-------------------------------------------------------------------------------------------------------------------
Class M-5               $      2,539,000                 (1)              $ 25,000.00                  $1.00
-------------------------------------------------------------------------------------------------------------------
Class M-6               $      2,031,000                 (1)              $ 25,000.00                  $1.00
-------------------------------------------------------------------------------------------------------------------
Class M-7               $      2,031,000                 (1)              $ 25,000.00                  $1.00
-------------------------------------------------------------------------------------------------------------------
Class M-8               $      1,524,000                 (1)              $ 25,000.00                  $1.00
-------------------------------------------------------------------------------------------------------------------
Class M-9               $      2,031,000                 (1)              $ 25,000.00                  $1.00
-------------------------------------------------------------------------------------------------------------------
Class B-1               $      4,316,000                 (1)              $100,000.00                  $1.00
-------------------------------------------------------------------------------------------------------------------
Class B-2               $      4,825,000                 (1)              $100,000.00                  $1.00
-------------------------------------------------------------------------------------------------------------------
Class B-3               $      3,554,816                 (1)              $100,000.00                  $1.00
===================================================================================================================
</TABLE>

-------------------------------------------------------------------------------
(1)      The Pass-Through Rate for this Class for each Interest Accrual Period
         related to each Distribution Date will be a per annum rate equal to the
         least of (a) LIBOR plus the applicable Pass-Through Margin for such
         Class, (b) the Net Rate Cap and (c) 10%. Solely for federal income tax
         purposes: (i) the principal balances of each Class of Certificates will
         be adjusted as if any excess of LIBOR plus the related Pass-Through
         Margin subject to a cap equal to the REMIC Cap over the related Net
         Rate Cap for such Class of Certificates and any Distribution Date, to
         the extent attributable to Net Deferred Interest, were treated as
         deferred interest that is added to the principal balances of such
         Certificates, (ii) all interest accruals in respect of the Class A,
         Class M and Class B Certificates in excess of the REMIC Cap will be
         treated as a paid pursuant to a limited recourse interest rate cap
         contract as provided in Section 8.11. The Pass-Through Rates for the
         LIBOR Certificates for the Interest Accrual Period related to the first
         Distribution

                                       11
<PAGE>

         Date, without giving effect to the Net Rate Cap, will be as set forth
         in the following table:

                                                 Initial Pass-Through
       Class of Certificates                          Rate(%)(1)
      -----------------------------              --------------------
      Class A-1-A                                       5.4100
      Class A-1-B                                       5.5200
      Class A-1-C                                       5.5900
      Class A-1-D                                       5.5300
      Class A-2-A                                       5.4300
      Class A-2-B                                       5.5700
      Class A-2-C                                       5.6300
      Class A-2-D                                       5.5700
      Class A-3                                         5.6500
      Class M-1                                         5.8200
      Class M-2                                         5.8700
      Class M-3                                         6.1700
      Class M-4                                         6.8200
      Class M-5                                         7.0700
      Class M-6                                         7.0700
      Class M-7                                         7.0700
      Class M-8                                         7.0700
      Class M-9                                         7.0700
      Class B-1                                         7.0700
      Class B-2                                         7.0700
      Class B-3                                         7.0700

----------
(1)   Without giving effect to the Net Rate Cap.
(2)   For each Interest Accrual Period for any Distribution Date, the
      Pass-Through Rate for the Class A-R Certificates will be the Net Rate
      Cap. The Pass-Through Rate for the Class A-R Certificates for the
      Interest Accrual Period for the first Distribution Date will be 6.71636%
      per annum.
(3)   The Class A-R Certificate will be issued as two separate certificates,
      one with an initial Certificate Balance of $99.99 and the Tax Matters
      Person Certificate with an initial Certificate Balance of $0.01.
(4)   The Class X-P Certificates initially will have no Class Certificate
      Balance and will have a notional amount equal to the aggregate Component
      Notional Amount of the Class X-P IO-1 and Class X-P IO-2 Components.
(5)   Interest will accrue with respect to the Class X-P Certificates for the
      Interest Accrual Period related to each Distribution Date in an amount
      equal to the sum of the interest accrued on the Class X-P IO-1 and Class
      X-P IO-2 Components at their respective Pass-Through Rates for that
      Interest Accrual Period.
(6)   For federal income tax purposes, for each Interest Accrual Period for
      any Distribution Date, the Class X-P Certificates are entitled to the
      sum of:

      A.    The interest on the Class ES-SR and Class ES-X-1-X Accrual
            Interests equal to the excess of (a) the REMIC Cap over (b) the
            product of two and the weighted average interest rate of the Class
            ES-SR and Class ES-X-1-X-Accrual Interests

                                       12
<PAGE>

            with each Interest (other than the Class ES-X-1-X-Accrual
            Interest) subject to a cap equal to the Pass-Through Rate of the
            corresponding Certificate Class (substituting the REMIC Cap for
            the Net Rate Cap for this purpose) and the Class ES-X-1-X-Accrual
            Interest subject to a cap of 0.00%. The amounts so calculated
            shall be a rate sufficient to entitle the Class X-P Certificates
            to all interest accrued on the Class ES-SR and Class ES-X-1
            Accrual Interests less the interest accrued on the Class A
            Certificates.

      B.    The interest on the Class ES-SB and Class ES-X-2-Accrual Interests
            equal to the excess of (a) the REMIC Cap over (b) the product of
            two and the weighted average interest rate of the Class ES-SB and
            Class ES-X-2-Accrual Interests with each Interest (other than the
            Class ES-X-2-Accrual Interest) subject to a cap equal to the
            Pass-Through Rate of the corresponding Certificate Class
            (substituting the REMIC Cap for the Net Rate Cap for this purpose)
            and the ES-X-2-Accrual Interest subject to a cap of 0.00%. The
            amounts so calculated shall be a rate sufficient to entitle the
            Class X-P Certificates to all interest accrued on the Class ES-SB
            and Class ES-X-2 Accrual Interests less the interest accrued on
            the Class M and Class B Certificates.

      C.    All interest accruals in respect of the Class ES-Swap IO Interest.

(7)   The Class X-P Certificates will also be entitled to receive on each
      Distribution Date the amounts payable with respect to the
      uncertificated, Class P Master REMIC regular interest. On each
      Distribution Date, the uncertificated, Class P Master REMIC regular
      interest is entitled to the sum of (i) the Prepayment Charges received
      with respect to the Mortgage Loans during the related Prepayment Period
      and (ii) the Master Servicer Prepayment Charge Amount for such
      Distribution Date.

(8)   Based on the Notional Amount.

      The foregoing REMIC structure is intended to cause all of the cash from
the Mortgage Loans to flow through to the Master REMIC as cash flow on a REMIC
regular interest, without creating any shortfall--actual or potential (other
than for credit losses) to any REMIC regular interest. It is not intended that
the Class A-R Certificates be entitled to any cash flow pursuant to this
Agreement except as provided in Section 4.02(a)(1) hereunder.

      For any purpose for which the Pass-Through Rates is calculated, the
interest rate on the Mortgage Loans shall be appropriately adjusted to account
for the difference between the monthly day count convention of the Mortgage
Loans and the monthly day count convention of the regular interests issued by
each of the REMICs. For purposes of calculating the Pass-Through Rates for
each of the interests issued by REMIC, such rates shall be adjusted to equal a
monthly day count convention based on a 30 day month for each Due Period and a
360-day year so that the Mortgage Loans and all regular interests will be
using the same monthly day count convention.

      No monies will be remitted by Countrywide to the Trustee for deposit in
the Pre-Funding Account. Consequently, all references to or provisions herein
regarding the Funding Period, Funding Period Distribution Date, Pre-Funded
Amount, Pre-Funding Account, Capitalized

                                       13
<PAGE>

Interest Account, Capitalized Interest Requirement, Supplemental Cut-off Date,
Supplemental Mortgage Loan, Supplemental Transfer Agreement, Supplemental
Transfer Date, Aggregate Supplemental Purchase Amount and Aggregate
Supplemental Transfer Amount are inapplicable.

                                      14
<PAGE>

         Set forth below are designations of Classes or Components of
Certificates to the categories used in this Agreement:

<TABLE>
<CAPTION>
<S>                                         <C>
Accretion Directed
Certificates........................        None.

Accretion Directed Components.......        None.

Accrual Certificates................        None.

Accrual Components..................        None.

Book-Entry Certificates.............        All Classes of Certificates other than the Physical Certificates.

Class A Certificates................        The Class A-1-A, Class A-1-B, Class A-1-C, Class A-1-D, Class
                                            A-2-A, Class A-2-B, Class A-2-C, Class A-2-D and Class A-3
                                            Certificates.

Class A-1 Certificates..............        The Class A-1-A, Class A-1-B, Class A-1-C and Class A-1-D
                                            Certificates.

Class A-2 Certificates..............        The Class A-2-A, Class A-2-B, Class A-2-C and Class A-2-D
                                            Certificates.

Class B Certificates................        The Class B-1, Class B-2 and Class B-3 Certificates.

Class M Certificates................        The Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class
                                            M-6, Class M-7, Class M-8 and Class M-9 Certificates.

COFI Certificates...................        None.

Combined Certificates...............        None.

Component Certificates..............        The Class X-P Certificates.

                                            For purposes of calculating distributions of principal and/or
                                            interest, each Class of Component Certificates will be comprised
                                            of multiple payment components having the Designations, Initial
                                            Component Principal Balances and Component Notional Amounts, as
                                            applicable, and Pass-Through Rates set forth below:

                                                              Initial       Closing Date
                                                             Component      Component            Pass-
                                                             Principal       Notional           Through
                                             Designation      Balance         Amount              Rate
                                            --------------- -----------  -------------------  -----------
                                            Class X-P IO-1      N/A        $459,567,000            (1)

                                                      15
<PAGE>

                                            Class X-P IO-2      N/A        $ 48,241,816            (2)
                                            Class X-P PO-1      $0                  N/A             0%
                                            Class X-P PO-2      $0                  N/A             0%

                                            (1) For the Interest Accrual Period for each Distribution Date, a
                                            per annum rate equal to the excess, if any, of (i) the Net Rate
                                            Cap (adjusted to a rate calculated on the basis of a 360-day year
                                            comprised of twelve 30-day months) over (ii) the weighted average
                                            of the Pass-Through Rates of the Class A Certificates and the
                                            Class X-P PO-1 Component for that Distribution Date (weighted on
                                            the basis of the respective Class Certificate Balances of the
                                            Class A Certificates and the Component Principal Balance of the
                                            Class X-P PO-1 Component and adjusted to a rate calculated on the
                                            basis of a 360-day year comprised of twelve 30-day months).

                                            (2) For the Interest Accrual Period related to each Distribution
                                            Date, a per annum rate equal to the excess, if any, of (i) the Net
                                            Rate Cap (adjusted to a rate calculated on the basis of a 360-day
                                            year comprised of twelve 30-day months) over (ii) the weighted
                                            average of the Pass-Through Rates of the Subordinated Certificates
                                            and the Class X-P PO-2 Component for that Distribution Date
                                            (weighted on the basis of the respective Class Certificate
                                            Balances of the Subordinated Certificates and the Component
                                            Principal Balance of the Class X-P PO-2 Component and adjusted to
                                            a rate calculated on the basis of a 360-day year comprised of
                                            twelve 30-day months).

Components..........................        The Notional Amount Components and Principal Only Components. The
                                            Components are not separately transferable from the related Class
                                            of Certificates.

Delay Certificates..................        All interest-bearing Classes of Certificates other than the
                                            Non-Delay Certificates, if any.

ERISA-Restricted
Certificates........................        The Residual Certificates, the Private Certificates and any
                                            Certificate of a Class that does not have or no longer has a
                                            rating of at least BBB- or its equivalent from at least one Rating
                                            Agency.

Floating Rate Certificates..........        The LIBOR Certificates.

LIBOR Certificates..................        Class A, Class M and Class B Certificates.

Non-Delay Certificates..............        The LIBOR Certificates.

Notional Amount
Certificates........................        None.

Notional Amount
Components..........................        Class X-P IO-1 and Class X-P IO-2 Components.

                                                      16
<PAGE>

Offered Certificates................        All Classes of Certificates other than the Private Certificates.

Physical Certificates...............        The Private Certificates and the Residual Certificates.

Planned Principal Classes...........        None.

Planned Principal
Components..........................        None.

Principal Only Components...........        Class X-P PO-1 and Class X-P PO-2 Components.

Private Certificates................        Class B-1, Class B-2 and Class B-3 Certificates.

Rating Agencies.....................        S&P and Moody's.

Regular Certificates................        All Classes of Certificates, other than the Residual Certificates.

Residual Certificates...............        The Class A-R Certificates.

Senior Certificates.................        Class A, Class X-P and Class A-R Certificates.

Subordinated Certificates ..........        Class M and Class B Certificates.

Targeted Principal Classes..........        None.

Underwriter.........................        Countrywide Securities Corporation.
</TABLE>

      With respect to any of the foregoing designations as to which the
corresponding reference is "None," all defined terms and provisions in this
Agreement relating solely to such designations shall be of no force or effect,
and any calculations in this Agreement incorporating references to such
designations shall be interpreted without reference to such designations and
amounts. Defined terms and provisions in this Agreement relating to statistical
rating agencies not designated above as Rating Agencies shall be of no force or
effect.

                                       17
<PAGE>

                                  ARTICLE I
                                  DEFINITIONS

      SECTION 1.01. Defined Terms.

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

      Account: Any Escrow Account, the Certificate Account, the Distribution
Account, the Carryover Shortfall Reserve Fund, the Principal Reserve Fund, the
Pre-Funding Account, the Capitalized Interest Account, the Swap Account or any
other account related to the Trust Fund or the Mortgage Loans.

      Accretion Directed Certificates: As specified in the Preliminary
Statement.

      Accretion Direction Rule: Not applicable.

      Accrual Amount: Not applicable.

      Accrual Certificates: As specified in the Preliminary Statement.

      Accrual Components: As specified in the Preliminary Statement.

      Accrual Termination Date: Not applicable.

      Additional Designated Information: As defined in Section 11.02.

      Adjusted Mortgage Rate: As to each Mortgage Loan, and at any time, the
per annum rate equal to the Mortgage Rate less the Master Servicing Fee Rate.

      Adjusted Net Mortgage Rate: As to each Mortgage Loan, and at any time,
the per annum rate equal to the Mortgage Rate (as of the first day of the
related Due Period) less the Expense Fee Rate.

      Adjusted Rate Cap: With respect to the LIBOR Certificates for any
Distribution Date, the excess, if any, of the Net Rate Cap for such
Distribution Date, over a fraction expressed as a percentage, the numerator of
which is equal to the product of (i) a fraction, the numerator of which is 360
and the denominator of which is the actual number of days in the related
Interest Accrual Period and (ii) the Net Deferred Interest for that
Distribution Date, and the denominator of which is the aggregate Stated
Principal Balance of the Mortgage Loans as of the first day of the related Due
Period (after giving effect to Principal Prepayments received in the
Prepayment Period related to the prior Distribution Date).

      With respect to the Class X-P IO-1 and Class X-P IO-2 Components for any
Distribution Date, the Pass-Through Rate for such Component computed for this
purpose by (A) subtracting from the numerator of the Net Rate Cap calculation
for such Distribution Date the product of (a) the Net Deferred Interest for
such Distribution Date and (b) 12 and (B) computing the Pass-

                                       18
<PAGE>

Through Rates of the Senior Certificates (other than the Class A-R and Class
X-P Certificates) and the Subordinated Certificates by substituting "Adjusted
Rate Cap" for "Net Rate Cap" in the calculation thereof.

      Adjustment Date: A date specified in each Mortgage Note as a date on
which the Mortgage Rate on the related Mortgage Loan will be adjusted.

      Advance: The payment required to be made by the Master Servicer with
respect to any Distribution Date pursuant to Section 4.01, the amount of any
such payment being equal to the aggregate of payments of principal and
interest (net of the Master Servicing Fee) on the Mortgage Loans that were due
in the related Due Period and not received by the Master Servicer as of the
close of business on the related Determination Date, together with an amount
equivalent to interest on each Mortgage Loan as to which the related Mortgaged
Property is an REO Property (net of any net income on such REO Property), less
the aggregate amount of any such delinquent payments that the Master Servicer
has determined would constitute a Nonrecoverable Advance, if advanced.

      Aggregate Supplemental Purchase Amount: With respect to any Supplemental
Transfer Date, the "Aggregate Supplemental Purchase Amount" identified in the
related Supplemental Transfer Agreement, which shall be an estimate of the
aggregate Stated Principal Balances of the Supplemental Mortgage Loans
identified in such Supplemental Transfer Agreement.

      Aggregate Supplemental Transfer Amount: With respect to any Supplemental
Transfer Date, the aggregate Stated Principal Balance as of the related
Supplemental Cut-off Date of the Supplemental Mortgage Loans conveyed on such
Supplemental Transfer Date, as listed on the revised Mortgage Loan Schedule
delivered pursuant to the Supplemental Transfer Agreement; provided, however,
that such amount shall not exceed the amount on deposit in the Pre-Funding
Account.

      Agreement: This Pooling and Servicing Agreement and all amendments or
supplements to this Pooling and Servicing Agreement.

      Allocable Share: As to any Distribution Date, any Class of Certificates
or any interest-bearing Component thereof, the ratio that the amount
calculated with respect to such Distribution Date pursuant to clause (i) of
the definition of Class Optimal Interest Distribution Amount (without giving
effect to any reduction of such amount pursuant to Section 4.02(d)) bears to
the aggregate amount calculated with respect to such Distribution Date for
each such Class of Certificates pursuant to clause (i) of the definition of
Class Optimal Interest Distribution Amount (without giving effect to any
reduction of such amounts pursuant to Section 4.02(d)).

      Amount Held for Future Distribution: As to any Distribution Date, the
aggregate amount held in the Certificate Account at the close of business on
the related Determination Date on account of (i) Principal Prepayments
received after the related Prepayment Period and Liquidation Proceeds and
Subsequent Recoveries received in the month of such Distribution Date and (ii)
all Scheduled Payments due in the related Due Period.

      Applicable Credit Support Percentage: As defined in Section 4.02(e).

                                       19
<PAGE>

      Appraised Value: With respect to a Mortgage Loan other than a
Refinancing Mortgage Loan, the lesser of (a) the value of the Mortgaged
Property based upon the appraisal made at the time of the origination of such
Mortgage Loan and (b) the sales price of the Mortgaged Property at the time of
the origination of such Mortgage Loan. With respect to a Refinancing Mortgage
Loan other than a Streamlined Documentation Mortgage Loan, the value of the
Mortgaged Property based upon the appraisal made-at the time of the
origination of such Refinancing Mortgage Loan. With respect to a Streamlined
Documentation Mortgage Loan, (a) if the loan-to-value ratio with respect to
the Original Mortgage Loan at the time of the origination thereof was 80% or
less and the loan amount of the new mortgage loan is $650,000 or less, the
value of the Mortgaged Property based upon the appraisal made at the time of
the origination of the Original Mortgage Loan and (b) if the loan-to-value
ratio with respect to the Original Mortgage Loan at the time of the
origination thereof was greater than 80% or the loan amount of the new
mortgage loan being originated is greater than $650,000, the value of the
Mortgaged Property based upon the appraisal (which may be a drive-by
appraisal) made at the time of the origination of such Streamlined
Documentation Mortgage Loan.

      Available Funds: As to any Distribution Date, the sum of (a) the
aggregate amount held in the Certificate Account at the close of business on
the related Determination Date in respect of the Mortgage Loans pursuant to
Section 3.05(b) net of the Amount Held for Future Distribution, net of any
Prepayment Charges and net of amounts permitted to be withdrawn from the
Certificate Account pursuant to clauses (i) - (viii), inclusive, of Section
3.08(a) and amounts permitted to be withdrawn from the Distribution Account
pursuant to clauses (i) - (v), inclusive, of Section 3.08(b), (b) the amount
of the related Advance and (c) in connection with Defective Mortgage Loans, as
applicable, the aggregate of the Purchase Prices and Substitution Adjustment
Amounts deposited on the related Distribution Account Deposit Date, (d) on
each Funding Period Distribution Date, the amount, if any, transferred from
the Capitalized Interest Account in respect of the applicable Capitalized
Interest Requirement and (e) with respect to the first Distribution Date after
the end of the Funding Period, amounts remaining on deposit in the Pre-Funding
Account as of the end of the Funding Period. The Holders of the Class X-P
Certificates will be entitled to all Prepayment Charges received on the
Mortgage Loans, and such amounts will not be available for distribution to the
Holders of any other Class of Certificates.

      Bankruptcy Code: Title 11 of the United States Code, as amended.

      Benefit Plan Opinion: As defined in Section 5.02(b).

      Book-Entry Certificates: As specified in the Preliminary Statement.

      Business Day: Any day other than (i) a Saturday or a Sunday or (ii) a
day on which banking institutions in the City of New York, New York, or the
States of California or Texas or the city in which the Corporate Trust Office
of the Trustee is located are authorized or obligated by law or executive
order to be closed.

      Capitalized Interest Account: The separate Eligible Account designated
as such and created and maintained by the Trustee pursuant to Section 3.05(h)
hereof. The Capitalized Interest Account shall be treated as an "outside
reserve fund" under applicable Treasury regulations and shall not be part of
any REMIC. Except as provided in Section 3.05(h) hereof,

                                       20
<PAGE>

any investment earnings on the amounts on deposit in the Capitalized Interest
Account shall be treated as owned by the Depositor and will be taxable to the
Depositor.

      Capitalized Interest Requirement: With respect to each Funding Period
Distribution Date, the excess, if any, of (a) the sum of (1) the amount
calculated pursuant to clause (i) of the definition of Class Optimal Interest
Distribution Amount for each Class of Certificates for such Distribution Date
(without giving effect to the Net Rate Cap in the calculation of the
Pass-Through Rate for each Class of Certificates), plus (2) the Trustee Fee,
over (b) with respect to each Mortgage Loan, (1) 1/12 of the product of the
related Adjusted Mortgage Rate and the related Stated Principal Balance as of
the related Due Date (prior to giving effect to any Scheduled Payment due on
such Mortgage Loan on such Due Date) minus (2) any related reductions required
by Section 4.02(d) hereof.

      Carryover Shortfall Amount: For any Class of LIBOR Certificates and any
Distribution Date, the sum of (a) the excess, if any, of (i) the amount of
interest such Class of Certificates would have been entitled to receive on
such Distribution Date pursuant to clause (i) of the definition of Class
Optimal Interest Distribution Amount (prior to any reductions pursuant to
Section 4.02(d) and any reduction due to the allocation of Net Deferred
Interest) had the applicable Pass-Through Rate not been limited to the Net
Rate Cap (provided that such Pass-Through Rate shall still be subject to the
Maximum Rate), over (ii) the amount of interest such Class of Certificates is
entitled to receive on such Distribution Date pursuant to clause (i) of the
definition of Class Optimal Interest Distribution Amount (prior to any
reductions pursuant to Section 4.02(d) and any reduction due to the allocation
of Net Deferred Interest) and (b) with respect to each Class of LIBOR
Certificates (other than the Class B Certificates), the unpaid portion of any
such excess from prior Distribution Dates (and interest accrued thereon at the
then applicable Pass-Through Rate on such Class of Certificates, without
giving effect to the Net Rate Cap).

      Carryover Shortfall Reserve Fund: The separate fund created and
initially maintained by the Trustee pursuant to Section 3.05(g) in the name of
the Trustee for the benefit of the Holders of the LIBOR Certificates and the
Class X-P Certificates and designated "The Bank of New York in trust for
registered holders of CWALT, Inc., Alternative Loan Trust 2007-OH1, Mortgage
Pass-Through Certificates, Series 2007-OH1." Funds in the Carryover Shortfall
Reserve Fund shall be held in trust for the Holders of the LIBOR Certificates
and the Class X-P Certificates for the uses and purposes set forth in this
Agreement.

      Certificate: Any one of the Certificates executed by the Trustee in
substantially the forms attached to this Agreement as exhibits.

      Certificate Account: The separate Eligible Account or Accounts created
and maintained by the Master Servicer pursuant to Section 3.05 with a
depository institution, initially Countrywide Bank, N.A., in the name of the
Master Servicer for the benefit of the Trustee on behalf of Certificateholders
and designated "Countrywide Home Loans Servicing LP in trust for the
registered holders of Alternative Loan Trust 2007-OH1, Mortgage Pass-Through
Certificates Series 2007-OH1."

      Certificate Balance: With respect to any Certificate (other than the
Notional Amount Certificates) at any date, the maximum dollar amount of
principal to which the Holder thereof is

                                       21
<PAGE>

then entitled under this Agreement, such amount being equal to the
Denomination of that Certificate (A) plus any increase in the Certificate
Balance of such Certificate pursuant to Section 4.02 due to the receipt of
Subsequent Recoveries (B) minus the sum of (i) all distributions of principal
previously made with respect to that Certificate and (ii) all Realized Losses
allocated to that Certificate and, in the case of any Subordinated
Certificates, all other reductions in Certificate Balance previously allocated
to that Certificate pursuant to Section 4.04 without duplication, and (C)
increased by the amount of Net Deferred Interest allocated to the applicable
Class or Component pursuant to Section 4.03. With respect to the Component
Certificates at any date, the maximum dollar amount of principal to which the
Holder thereof is entitled under this Agreement, such amount being equal to
the Component Principal Balances of the related Principal Only Components as
of such date.

      Certificate Owner: With respect to a Book-Entry Certificate, the Person
who is the beneficial owner of such Book-Entry Certificate. For the purposes
of this Agreement, in order for a Certificate Owner to enforce any of its
rights under this Agreement, it shall first have to provide evidence of its
beneficial ownership interest in a Certificate that is reasonably satisfactory
to the Trustee, the Depositor, and/or the Master Servicer, as applicable.

      Certificate Register: The register maintained pursuant to Section 5.02.

      Certificateholder or Holder: The person in whose name a Certificate is
registered in the Certificate Register, except that, solely for the purpose of
giving any consent pursuant to this Agreement, any Certificate registered in
the name of the Depositor or any affiliate of the Depositor shall be deemed
not to be Outstanding and the Percentage Interest evidenced thereby shall not
be taken into account in determining whether the requisite amount of
Percentage Interests necessary to effect such consent has been obtained;
provided, however, that if any such Person (including the Depositor) owns 100%
of the Percentage Interests evidenced by a Class of Certificates, such
Certificates shall be deemed to be Outstanding for purposes of any provision
of this Agreement (other than the second sentence of Section 10.01) that
requires the consent of the Holders of Certificates of a particular Class as a
condition to the taking of any action under this Agreement. The Trustee is
entitled to rely conclusively on a certification of the Depositor or any
affiliate of the Depositor in determining which Certificates are registered in
the name of an affiliate of the Depositor.

      Certification Party: As defined in Section 11.05.

      Certifying Person: As defined in Section 11.05.

      Class: All Certificates bearing the same class designation as set forth
in the Preliminary Statement.

      Class Certificate Balance: With respect to any Class and as to any date
of determination, the aggregate of the Certificate Balances of all
Certificates of such Class as of such date.

      Class Interest Shortfall: As to any Distribution Date and Class or
Component, the amount by which the amount described in clause (i) of the
definition of Class Optimal Interest Distribution Amount for such Class or
Component exceeds the amount of interest actually distributed on such Class or
Component on such Distribution Date pursuant to such clause (i).

                                       22
<PAGE>

      Class LT-A-R Interest: The sole class of "residual interest" in the
Lower Tier REMIC.

      Class Optimal Interest Distribution Amount: With respect to any
Distribution Date and any interest-bearing Class or Component, the sum of (i)
interest accrued during the related Interest Accrual Period at the
Pass-Through Rate for such Class or Component on the related Class Certificate
Balance, Component Principal Balance, Notional Amount or Component Notional
Amount, as applicable, as of the last day of such Interest Accrual Period,
subject to reduction as provided in Section 4.02(d) and reduced by any Net
Deferred Interest for such Distribution Date allocated to their respective
Class Certificate Balances or Component Principal Balances, as applicable, as
described in Section 4.03 and (ii) any Class Unpaid Interest Amounts for such
Class or Component.

      Class Subordination Percentage: With respect to any Distribution Date
and each Class of Subordinated Certificates, the quotient (expressed as a
percentage) of (a) the Class Certificate Balance of such Class of Subordinated
Certificates immediately prior to such Distribution Date, divided by (b) the
aggregate of the Class Certificate Balances of all Classes of Certificates
(other than the Notional Amount Certificates) immediately prior to such
Distribution Date.

      Class Unpaid Interest Amounts: As to any Distribution Date and Class of
interest-bearing Certificates or any interest-bearing Component, the amount by
which the aggregate Class Interest Shortfalls for such Class or Component on
prior Distribution Dates exceeds the amount distributed on such Class or
Component on prior Distribution Dates pursuant to clause (ii) of the
definition of Class Optimal Interest Distribution Amount.

      Class X-P Principal Distribution Date: The first Distribution Date that
occurs after the end of the last Prepayment Charge Period for all Mortgage
Loans.

      Closing Date: May 30, 2007.

      Code: The Internal Revenue Code of 1986, including any successor or
amendatory provisions.

      COFI: The Monthly Weighted Average Cost of Funds Index for the Eleventh
District Savings Institutions published by the Federal Home Loan Bank of San
Francisco.

      COFI Certificates: As specified in the Preliminary Statement.

      Commission: The U.S. Securities and Exchange Commission.

      Compensating Interest: As to any Distribution Date, an amount equal to
one-half of the Master Servicing Fee for the related Due Period.

      Component: As specified in the Preliminary Statement.

      Component Certificates: As specified in the Preliminary Statement.

      Component Notional Amount: With respect to the Interest Accrual Period
for any Distribution Date and the Class X-P IO-1 Component, the sum of (x) the
aggregate Class Certificate Balance of the Class A Certificates immediately
prior to such Distribution Date and

                                       23
<PAGE>

(y) the Component Principal Balance of the Class X-P PO-1 Component
immediately prior to such Distribution Date.

      With respect to the Interest Accrual Period for any Distribution Date
and the Class X-P IO-2 Component, the sum of (x) the excess, if any, of the
aggregate Stated Principal Balance of the Mortgage Loans as of the first day
of the related Due Period (after giving effect to Principal Prepayments
received in the Prepayment Period related to the prior Distribution Date) and
amounts on deposit in the Pre-Funding Account over the aggregate Class
Certificate Balance of the Senior Certificates immediately prior to such
Distribution Date and (y) the Component Principal Balance of the Class X-P
PO-2 Component immediately prior to such Distribution Date.

      Component Principal Balance: With respect to any date and any Principal
Only Component, an amount equal to (i) the aggregate Net Deferred Interest
allocated to the related Notional Amount Component pursuant to Section 4.03 on
all prior Distribution Dates minus (ii) all amounts actually distributed as
principal of such Principal Only Component and all Realized Losses applied in
reduction of principal of such Principal Only Component on all prior
Distribution Dates plus (iii) any increase in the Component Principal Balance
of such Principal Only Component pursuant to Section 4.02 on all prior
Distribution Dates due to the receipt of Subsequent Recoveries.

      Coop Shares: Shares issued by a Cooperative Corporation.

      Cooperative Corporation: The entity that holds title (fee or an
acceptable leasehold estate) to the real property and improvements
constituting the Cooperative Property and which governs the Cooperative
Property, which Cooperative Corporation must qualify as a Cooperative Housing
Corporation under section 216 of the Code.

      Cooperative Loan: Any Mortgage Loan secured by Coop Shares and a
Proprietary Lease.

      Cooperative Property: The real property and improvements owned by the
Cooperative Corporation, including the allocation of individual dwelling units
to the holders of the Coop Shares of the Cooperative Corporation.

      Cooperative Unit: A single family dwelling located in a Cooperative
Property.

      Corporate Trust Office: The designated office of the Trustee in the
State of New York at which at any particular time its corporate trust business
with respect to this Agreement shall be administered, which office at the date
of the execution of this Agreement is located at 101 Barclay Street, 4 West,
New York, New York 10286, Attn: Mortgage-Backed Securities Group, CWALT, Inc.
Series 2007-OH1, facsimile no. (212) 815-3986, and which is the address to
which notices to and correspondence with the Trustee should be directed.

      Countrywide: Countrywide Home Loans, Inc., a New York corporation and
its successors and assigns, in its capacity as the seller of the Countrywide
Mortgage Loans to the Depositor.

                                       24
<PAGE>

      Countrywide Mortgage Loans: The Mortgage Loans identified as such on the
Mortgage Loan Schedule for which Countrywide is the applicable Seller.

      Countrywide Servicing: Countrywide Home Loans Servicing LP, a Texas
limited partnership and its successors and assigns.

      Covered Certificates: Not applicable.

      Cut-off Date: In the case of any Initial Mortgage Loan, the Initial
Cut-off Date, and in the case of any Supplemental Mortgage Loan, the related
Supplemental Cut-off Date.

      Cut-off Date Pool Principal Balance: An amount equal to the sum of (x)
the Initial Cut-off Date Pool Principal Balance plus (y) the amount, if any,
deposited in the Pre-Funding Account on the Closing Date.

      Cut-off Date Principal Balance: As to any Mortgage Loan, the Stated
Principal Balance thereof as of the close of business on the applicable
Cut-off Date.

      Debt Service Reduction: With respect to any Mortgage Loan, a reduction
by a court of competent jurisdiction in a proceeding under the Bankruptcy Code
in the Scheduled Payment for such Mortgage Loan that became final and
non-appealable, except such a reduction resulting from a Deficient Valuation
or any reduction that results in a permanent forgiveness of principal.

      Defective Mortgage Loan: Any Mortgage Loan that is required to be
repurchased pursuant to Section 2.02 or 2.03.

      Deferred Interest: With respect to each Mortgage Loan and Due Period,
the amount of interest accrued on such Mortgage Loan at the applicable
Mortgage Rate from the Due Date in the preceding Due Period to the Due Date in
such Due Period that is greater than the Scheduled Payment due on such
Mortgage Loan for such Due Period and that is added to the principal balance
of such Mortgage Loan in accordance with the terms of the related Mortgage
Note.

      Deficient Valuation: With respect to any Mortgage Loan, a valuation by a
court of competent jurisdiction of the Mortgaged Property in an amount less
than the then-outstanding indebtedness under the Mortgage Loan, or any
reduction in the amount of principal to be paid in connection with any
Scheduled Payment that results in a permanent forgiveness of principal, which
valuation or reduction results from an order of such court which is final and
non-appealable in a proceeding under the Bankruptcy Code.

      Definitive Certificates: Any Certificate evidenced by a Physical
Certificate and any Certificate issued in lieu of a Book-Entry Certificate
pursuant to Section 5.02(e).

      Delay Certificates: As specified in the Preliminary Statement.

      Delay Delivery Certification: As defined in Section 2.02(a).

      Delay Delivery Mortgage Loans: The Mortgage Loans for which all or a
portion of a related Mortgage File is not delivered to the Trustee on the
Closing Date or Supplemental Transfer Date, as applicable. The number of Delay
Delivery Mortgage Loans shall not exceed

                                       25
<PAGE>

50% of the aggregate number of Initial Mortgage Loans as of the Closing Date
and 90% of the Supplemental Mortgage Loans conveyed on a Supplemental Transfer
Date. To the extent that Countrywide Servicing shall be in possession of any
Mortgage Files with respect to any Delay Delivery Mortgage Loan, until
delivery of such Mortgage File to the Trustee as provided in Section 2.01,
Countrywide Servicing shall hold such files as Master Servicer hereunder, as
agent and in trust for the Trustee.

      Deleted Mortgage Loan: As defined in Section 2.03(c).

      Denomination: With respect to each Certificate, the amount set forth on
the face of that Certificate as the "Initial Certificate Balance of this
Certificate" or the "Initial Notional Amount of this Certificate" or, if
neither of the foregoing, the Percentage Interest appearing on the face of
that Certificate.

      Depositor: CWALT, Inc., a Delaware corporation, or its successor in
interest.

      Depository: The initial Depository shall be The Depository Trust
Company, the nominee of which is CEDE & Co., as the registered Holder of the
Book-Entry Certificates. The Depository shall at all times be a "clearing
corporation" as defined in Section 8-102(a)(5) of the Uniform Commercial Code
of the State of New York.

      Depository Participant: A broker, dealer, bank or other financial
institution or other Person for whom from time to time a Depository effects
book-entry transfers and pledges of securities deposited with the Depository.

      Determination Date: As to any Distribution Date, the 22nd day of each
month or, if such 22nd day is not a Business Day, the preceding Business Day;
provided, however, that if such 22nd day or such Business Day, whichever is
applicable, is less than two Business Days prior to the related Distribution
Date, the Determination Date shall be the first Business Day that is two
Business Days preceding such Distribution Date.

      Distribution Account: The separate Eligible Account created and
maintained by the Trustee pursuant to Section 3.05(d) in the name of the
Trustee for the benefit of the Certificateholders and designated "The Bank of
New York in trust for registered holders of Alternative Loan Trust 2007-OH1
Mortgage Pass-Through Certificates, Series 2007-OH1." Funds in the
Distribution Account shall be held in trust for the Certificateholders for the
uses and purposes set forth in this Agreement.

      Distribution Account Deposit Date: As to any Distribution Date, 12:30 p.m.
Pacific time on the Business Day immediately preceding such Distribution Date.

      Distribution Date: The 25th day of each calendar month after the initial
issuance of the Certificates, or if such 25th day is not a Business Day, the
next succeeding Business Day commencing in June 2007.

      Due Date: With respect to a Mortgage Loan, the date on which the
Scheduled Payments are due on that Mortgage Loan. With respect to any
Distribution Date, the first day of the month in which that Distribution Date
occurs.

                                       26
<PAGE>

      Due Period: With respect to any Distribution Date, the period beginning
on the second day of the calendar month preceding the month in which such
Distribution Date occurs and ending on the first day of the calendar month in
which such Distribution Date occurs.

      EDGAR: The Commission's Electronic Data Gathering, Analysis and
Retrieval system.

      Eligible Account: Any of (i) an account or accounts maintained with a
federal or state chartered depository institution or trust company the
short-term unsecured debt obligations of which (or, in the case of a
depository institution or trust company that is the principal subsidiary of a
holding company, the debt obligations of such holding company) have the
highest short-term ratings of Moody's or Fitch and one of the two highest
short-term ratings of S&P, if S&P is a Rating Agency at the time any amounts
are held on deposit therein, or (ii) an account or accounts in a depository
institution or trust company in which such accounts are insured by the FDIC
(to the limits established by the FDIC) and the uninsured deposits in which
accounts are otherwise secured such that, as evidenced by an Opinion of
Counsel delivered to the Trustee and to each Rating Agency, the
Certificateholders have a claim with respect to the funds in such account or a
perfected first priority security interest against any collateral (which shall
be limited to Permitted Investments) securing such funds that is superior to
claims of any other depositors or creditors of the depository institution or
trust company in which such account is maintained, or (iii) a trust account or
accounts maintained with (a) the trust department of a federal or state
chartered depository institution or (b) a trust company, acting in its
fiduciary capacity or (iv) any other account acceptable to each Rating Agency.
Eligible Accounts may bear interest, and may include, if otherwise qualified
under this definition, accounts maintained with the Trustee.

      Eligible EPD Protected Mortgage Loan: A Mortgage Loan that (i) was
originated not more than one year prior to the Closing Date or the related
Supplemental Transfer Date, as applicable, (ii) was purchased by a Seller or
one of its affiliates pursuant to a purchase agreement containing provisions
under which the seller thereunder has become obligated to repurchase such
Mortgage Loan from Countrywide due to a Scheduled Payment due on or prior to
the first Scheduled Payment owing to the Trust Fund becoming delinquent and
(iii) was not purchased through Countrywide Home Loan Inc.'s Correspondent
Lending Division.

      Eligible Repurchase Month: As defined in Section 3.11.

      ERISA: The Employee Retirement Income Security Act of 1974, as amended.

      ERISA-Qualifying Underwriting: A best efforts or firm commitment
underwriting or private placement that meets the requirements of an
Underwriter's Exemption.

      ERISA-Restricted Certificate: As specified in the Preliminary Statement.

      Escrow Account: The Eligible Account or Accounts established and
maintained pursuant to Section 3.06(a).

      Event of Default: As defined in Section 7.01.

      Excess Proceeds: With respect to any Liquidated Mortgage Loan, the
amount, if any, by which the sum of any Liquidation Proceeds received with
respect to such Mortgage Loan during

                                       27
<PAGE>

the calendar month in which such Mortgage Loan became a Liquidated Mortgage
Loan plus any Subsequent Recoveries received with respect to such Mortgage
Loan, net of any amounts previously reimbursed to the Master Servicer as
Nonrecoverable Advance(s) with respect to such Mortgage Loan pursuant to
Section 3.08(a)(iii), exceeds (i) the unpaid principal balance of such
Liquidated Mortgage Loan as of the Due Date in the month in which such
Mortgage Loan became a Liquidated Mortgage Loan plus (ii) accrued interest at
the Mortgage Rate from the Due Date as to which interest was last paid or
advanced (and not reimbursed) to Certificateholders up to the Due Date
applicable to the Distribution Date immediately following the calendar month
during which such liquidation occurred.

      Exchange Act: The Securities Exchange Act of 1934, as amended, and the
rules and regulations promulgated thereunder.

      Exchange Act Reports: Any reports on Form 10-D, Form 8-K and Form 10-K
required to be filed by the Depositor with respect to the Trust Fund under the
Exchange Act.

      Expense Fee: As to each Mortgage Loan and any Distribution Date, the
product of the Expense Fee Rate and its Stated Principal Balance as of that
Distribution Date.

      Expense Fee Rate: As to each Mortgage Loan and any date of
determination, the sum of (a) the Master Servicing Fee Rate, (b) the Trustee
Fee Rate and (c) the per annum rate of the related lender paid mortgage
insurance premium, if any.

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

      FHLMC: The Federal Home Loan Mortgage Corporation, a corporate
instrumentality of the United States created and existing under Title III of
the Emergency Home Finance Act of 1970, as amended, or any successor to the
Federal Home Loan Mortgage Corporation.

      Final Certification: As defined in Section 2.02(a).

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

      Fitch: Fitch, Inc., or any successor thereto. If Fitch is designated as
a Rating Agency in the Preliminary Statement, for purposes of Section 10.05(b)
the address for notices to Fitch shall be Fitch, Inc., One State Street Plaza,
New York, New York 10004, Attention: Residential Mortgage Surveillance Group,
or such other address as Fitch may hereafter furnish to the Depositor and the
Master Servicer.

      FNMA: The Federal National Mortgage Association, a federally chartered
and privately owned corporation organized and existing under the Federal
National Mortgage Association Charter Act, or any successor to the Federal
National Mortgage Association.

      Form 10-D Disclosure Item: With respect to any Person, any material
litigation or governmental proceedings pending (a) against such Person, or (b)
against any of the Trust Fund, the Depositor, the Trustee, any co-trustee, the
Master Servicer or any Subservicer, if such Person has actual knowledge
thereof.

                                       28
<PAGE>

      Form 10-K Disclosure Item: With respect to any Person, (a) any Form 10-D
Disclosure Item, and (b) any affiliations or relationships between such Person
and any Item 1119 Party.

      Funding Period: Not applicable.

      Funding Period Distribution Date: Each Distribution Date during the
Funding Period and, if the Funding Period ends after the Distribution Date in
a month, the immediately succeeding Distribution Date.

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

      Indirect Participant: A broker, dealer, bank or other financial
institution or other Person that clears through or maintains a custodial
relationship with a Depository Participant.

      Initial Certification: As defined in Section 2.02(a).

      Initial Cut-off Date: With respect to any Initial Mortgage Loan, the
later of (i) the date of origination of such Mortgage Loan and (ii) May 1,
2007.

      Initial Cut-off Date Pool Principal Balance: $507,808,916.

      Initial Mortgage Loan: A Mortgage Loan conveyed to the Trust Fund on the
Closing Date pursuant to this Agreement as identified on the Mortgage Loan
Schedule delivered to the Trustee on the Closing Date.

      Insurance Policy: With respect to any Mortgage Loan included in the
Trust Fund, any insurance policy, including all riders and endorsements
thereto in effect, including any replacement policy or policies for any
Insurance Policies.

      Insurance Proceeds: Proceeds paid by an insurer pursuant to any
Insurance Policy, in each case other than any amount included in such
Insurance Proceeds in respect of Insured Expenses.

      Insured Expenses: Expenses covered by an Insurance Policy or any other
insurance policy with respect to the Mortgage Loans.

      Interest Accrual Period: With respect to any Delay Certificates and any
Distribution Date, the calendar month prior to the month of such Distribution
Date. With respect to any Non-Delay Certificates and any Distribution Date,
the period commencing on the Distribution Date in the month preceding the
month in which such Distribution Date occurs (other than the first
Distribution Date, for which it is the Closing Date) and ending on the day
immediately preceding that Distribution Date. Interest on any Delay
Certificates shall be calculated on the basis of a 360-day year consisting of
twelve 30-day months. Interest on any Non-Delay Certificates shall be
calculated on the basis of a 360-day year and the actual number of days
elapsed in the applicable Interest Accrual Period.

                                       29
<PAGE>

      Interest Determination Date: With respect to the LIBOR Certificates, the
second Business Day preceding the commencement of each Interest Accrual
Period.

      Item 1119 Party: The Depositor, any Seller, the Master Servicer, the
Trustee, any Subservicer, the Swap Counterparty, any originator identified in
the Prospectus Supplement and any other material transaction party, as
identified in Exhibit T hereto, as updated pursuant to Section 11.04.

      Last Scheduled Distribution Date: With respect to each Class of
Certificates, the Distribution Date occurring in April 2047, which is the
Distribution Date in month following the scheduled maturity date for the
latest maturing Initial Mortgage Loan.

      Latest Possible Maturity Date: The Distribution Date following the third
anniversary of the scheduled maturity date of the Mortgage Loan having the
latest scheduled maturity date as of the Cut-off Date.

      Lender PMI Mortgage Loan: Certain Mortgage Loans as to which the lender
(rather than the Mortgagor) acquires the Primary Insurance Policy and charges
the related Mortgagor an interest premium.

      LIBOR: The London interbank offered rate for one-month United States
dollar deposits calculated in the manner described in Section 4.08.

      LIBOR Certificates: As specified in the Preliminary Statement.

      Limited Exchange Act Reporting Obligations: The obligations of the
Master Servicer under Section 3.16(b), Section 6.02 and Section 6.04 with
respect to notice and information to be provided to the Depositor and Article
XI (except Section 11.07(a)(1) and (2)).

      Liquidated Mortgage Loan: With respect to any Distribution Date, a
defaulted Mortgage Loan (including any REO Property) that was liquidated in
the calendar month preceding the month of such Distribution Date and as to
which the Master Servicer has determined (in accordance with this Agreement)
that it has received all amounts it expects to receive in connection with the
liquidation of such Mortgage Loan, including the final disposition of an REO
Property.

      Liquidation Proceeds: Amounts, including Insurance Proceeds, received in
connection with the partial or complete liquidation of defaulted Mortgage
Loans, whether through trustee's sale, foreclosure sale or otherwise or
amounts received in connection with any condemnation or partial release of a
Mortgaged Property and any other proceeds received in connection with an REO
Property, less the sum of related unreimbursed Master Servicing Fees,
Servicing Advances and Advances.

      Loan-to-Value Ratio: With respect to any Mortgage Loan and as to any
date of determination, the fraction (expressed as a percentage) the numerator
of which is the principal balance of the related Mortgage Loan at that date of
determination and the denominator of which is the Appraised Value of the
related Mortgaged Property.

                                       30
<PAGE>

      Lost Mortgage Note: Any Mortgage Note the original of which was
permanently lost or destroyed and has not been replaced.

      Lower Tier REMIC: As described in the Preliminary Statement.

      Lower Tier REMIC Regular Interest: As described in the Preliminary
Statement.

      Maintenance: With respect to any Cooperative Unit, the rent paid by the
Mortgagor to the Cooperative Corporation pursuant to the Proprietary Lease.

      Majority in Interest: As to any Class of Regular Certificates, the
Holders of Certificates of such Class evidencing, in the aggregate, at least
51% of the Percentage Interests evidenced by all Certificates of such Class.

      Master REMIC: As described in the Preliminary Statement.

      Master Servicer: Countrywide Servicing, a Texas limited partnership, and
its successors and assigns, in its capacity as master servicer hereunder and,
if a successor master servicer is appointed under this Agreement, such
successor.

      Master Servicer Advance Date: As to any Distribution Date, 12:30 p.m.
Pacific time on the Business Day immediately preceding such Distribution Date.

      Master Servicer Prepayment Charge Amount: The amounts (i) payable by the
Master Servicer in respect of any Prepayment Charges waived other than in
accordance with the standard set forth in the first sentence of Section
3.20(a), or (ii) collected from Countrywide in respect of a remedy for the
breach of the representation made by Countrywide set forth in Section 3.20(c).

      Master Servicing Fee: As to each Mortgage Loan and any Distribution
Date, an amount payable out of each full payment of interest received on such
Mortgage Loan and equal to one-twelfth of the Master Servicing Fee Rate
multiplied by the Stated Principal Balance of such Mortgage Loan as of the Due
Date in the month of such Distribution Date (prior to giving effect to any
Scheduled Payments due on such Mortgage Loan on such Due Date), subject to
reduction as provided in Section 3.14.

      Master Servicing Fee Rate: 0.375% per annum.

      Maximum Mortgage Rate: With respect to each Mortgage Loan, the
percentage set forth in the related Mortgage Note as the maximum Mortgage Rate
thereunder.

      Maximum Negative Amortization: With respect to each Mortgage Loan, the
percentage set forth in the related Mortgage Note as the percentage of the
original principal balance of Mortgage Note, that if exceeded due to Deferred
Interest, will result in a recalculation of the Scheduled Payment so that the
then unpaid principal balance of the Mortgage Note will be fully amortized
over the Mortgage Loan's remaining term to maturity.

      Maximum Rate: 10% per annum.

                                       31
<PAGE>

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

      MERS Mortgage Loan: Any Mortgage Loan registered with MERS on the
MERS(R) System.

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

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

      Minimum Mortgage Rate: With respect to each Mortgage Loan, the greater
of (a) the Gross Margin set forth in the related Mortgage Note and (b) the
percentage set forth in the related Mortgage Note as the minimum Mortgage Rate
thereunder.

      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 Statement: The statement delivered to the Certificateholders
pursuant to Section 4.06.

      Moody's: Moody's Investors Service, Inc., or any successor thereto. If
Moody's is designated as a Rating Agency in the Preliminary Statement, for
purposes of Section 10.05(b) the address for notices to Moody's shall be
Moody's Investors Service, Inc., 99 Church Street, New York, New York 10007,
Attention: Residential Pass-Through Monitoring, or such other address as
Moody's may hereafter furnish to the Depositor or the Master Servicer.

      Mortgage: The mortgage, deed of trust or other instrument creating a
first lien on an estate in fee simple or leasehold interest in real property
securing a Mortgage Note.

      Mortgage File: The mortgage documents listed in Section 2.01 pertaining
to a particular Mortgage Loan and any additional documents delivered to the
Trustee to be added to the Mortgage File pursuant to this Agreement.

      Mortgage Index: As to each Mortgage Loan, the index from time to time in
effect for adjustment of the Mortgage Rate as set forth as such on the related
Mortgage Note.

      Mortgage Loan Schedule: The list of Mortgage Loans (as from time to time
amended by the Master Servicer to reflect the addition of Substitute Mortgage
Loans, the addition of any Supplemental Mortgage Loans pursuant to the
provisions of this Agreement and any Supplemental Transfer Agreement and the
deletion of Deleted Mortgage Loans pursuant to the provisions of this
Agreement) transferred to the Trustee as part of the Trust Fund and from time
to time subject to this Agreement, attached to this Agreement as Schedule I,
setting forth the following information with respect to each Mortgage Loan:

            (i) the loan number;

                                       32
<PAGE>

            (ii) the Mortgagor's name and the street address of the Mortgaged
            Property, including the ZIP code;

            (iii) the maturity date;

            (iv) the original principal balance;

            (v) the Cut-off Date Principal Balance;

            (vi) the first payment date of the Mortgage Loan;

            (vii) the Scheduled Payment in effect as of the Cut-off Date;

            (viii) the Loan-to-Value Ratio at origination;

            (ix) a code indicating whether the residential dwelling at the
            time of origination was represented to be owner-occupied;

            (x) a code indicating whether the residential dwelling is either
            (a) a detached or attached single family dwelling, (b) a dwelling
            in a de minimis PUD, (c) a condominium unit or PUD (other than a
            de minimis PUD), (d) a two- to four-unit residential property or
            (e) a Cooperative Unit;

            (xi) the Mortgage Rate in effect as of the Cut-off Date;

            (xii) [reserved];

            (xiii) a code indicating whether the Mortgage Loan is a Lender PMI
            Mortgage Loan and, in the case of any Lender PMI Mortgage Loan, a
            percentage representing the amount of the related interest premium
            charged to the borrower;

            (xiv) the purpose for the Mortgage Loan;

            (xv) the type of documentation program pursuant to which the
            Mortgage Loan was originated;

            (xvi) a code indicating whether the Mortgage Loan is a Countrywide
            Mortgage Loan, a Park Granada Mortgage Loan, a Park Monaco
            Mortgage Loan or a Park Sienna Mortgage Loan;

            (xvii) a code indicating whether the Mortgage Loan is a MERS
            Mortgage Loan;

            (xviii) with respect to each Mortgage Loan, the Gross Margin, the
            Mortgage Index, the Maximum Mortgage Rate, the Minimum Mortgage
            Rate, the Payment Adjustment Date, the Maximum Negative
            Amortization and the first Adjustment Date, as applicable; and

            (xix) a code indicating the type of Prepayment Charge;

                                       33
<PAGE>

            (xx) the state of origination of the related Mortgage Loan; and

            (xxi) the term of the related Prepayment Charge.

      Such schedule shall also set forth the total of the amounts described
under (iv) and (v) above for all of the Mortgage Loans. Countrywide shall
update the Mortgage Loan Schedule in connection with each Supplemental
Transfer Agreement within a reasonable period of time after delivery to it of
the Schedule of Supplemental Mortgage Loans attached to the related
Supplemental Transfer Agreement as Schedule A thereto. The Mortgage Loan
Schedule shall be amended from time to time by the Master Servicer in
accordance with the provisions of this Agreement and a copy of each amendment
to the Mortgage Loan Schedule related to clauses (xix), (xx) and (xxi) thereof
shall be furnished by the Master Servicer to the Class X-P Certificateholders.

      Mortgage Loans: Such of the mortgage loans transferred and assigned to
the Trustee pursuant to the provisions of this Agreement as from time to time
are held as a part of the Trust Fund (including any REO Property), the
mortgage loans so held being identified in the Mortgage Loan Schedule,
notwithstanding foreclosure or other acquisition of title of the related
Mortgaged Property.

      Mortgage Note: The original executed note or other evidence of
indebtedness evidencing the indebtedness of a Mortgagor under a Mortgage Loan.

      Mortgage Rate: The annual rate of interest borne by a Mortgage Note from
time to time, net of any interest premium charged by the mortgagee to obtain
or maintain any Primary Insurance Policy.

      Mortgaged Property: The underlying property securing a Mortgage Loan,
which, with respect to a Cooperative Loan, is the related Coop Shares and
Proprietary Lease.

      Mortgagor: The obligor(s) on a Mortgage Note.

      MTA: The twelve-month average monthly yield on U.S. Treasury Securities
adjusted to a constant maturity of one-year, as published by the Federal
Reserve Board in the Federal Reserve Statistical Release "Selected Interest
Rates (H.15)".

      MTA Certificates: None.

      National Cost of Funds Index: The National Monthly Median Cost of Funds
Ratio to SAIF-Insured Institutions published by the Office of Thrift
Supervision.

      Net Deferred Interest: With respect to each Distribution Date, an amount
equal to the excess, if any, of the aggregate Deferred Interest that accrued
on the Mortgage Loans during the related Due Period over the Principal
Prepayment Amount for that Distribution Date.

      Net Prepayment Interest Shortfalls: As to any Distribution Date, the
amount by which the aggregate of the Prepayment Interest Shortfalls for such
Distribution Date exceeds the Compensating Interest for such Distribution
Date.

                                       34
<PAGE>

      Net Prepayments: As to any Distribution Date, the excess, if any, of (i)
the Principal Prepayment Amount for that Distribution Date over (ii) the
aggregate amount of Deferred Interest accrued on the Mortgage Loans during the
related Due Period.

      Net Rate Cap: As to any Distribution Date, the per annum rate (subject
to adjustment based on the actual number of days elapsed in the related
Interest Accrual Period) equal to a fraction, expressed as a percentage, (1)
the numerator of which is equal to the product of (A) 12 and (B) the sum of
(i) the amount of interest which accrued on the Mortgage Loans in the prior
calendar month (after giving effect to Principal Prepayments) at their
Adjusted Net Mortgage Rates and (ii) any amounts withdrawn from the
Capitalized Interest Account for such Distribution Date, minus (iii) the Net
Swap Payment payable to the Swap Counterparty with respect to such
Distribution Date, minus (iv) any Swap Termination Payment payable to the Swap
Counterparty for such Distribution Date (other than a Swap Termination Payment
due to a Swap Counterparty Trigger Event) and (2) the denominator of which is
equal to the aggregate Stated Principal Balance of the Mortgage Loans as of
the first day of the related Due Period (after giving effect to Principal
Prepayments received during the Prepayment Period related to the prior
Distribution Date).

      Net Swap Payment: With respect to any Distribution Date and payment by
the Swap Contract Administrator to the Swap Counterparty, the excess, if any,
of the "Fixed Amount" (as defined in the Swap Contract) with respect to such
Distribution Date over the "Floating Amount" (as defined in the Swap Contract)
with respect to such Distribution Date. With respect to any Distribution Date
and payment by the Swap Counterparty to the Swap Contract Administrator, the
excess, if any, of the "Floating Amount" (as defined in the Swap Contract)
with respect to such Distribution Date over the "Fixed Amount" (as defined in
the Swap Contract) with respect to such Distribution Date.

      New Confirmation: The confirmation, reference number 1762254B, with a
trade date of May 30, 2007, evidencing a transaction between the Swap
Counterparty and the Swap Contract Administrator relating to the Swap
Contract.

      Non-Delay Certificates: As specified in the Preliminary Statement.

      Nonrecoverable Advance: Any portion of an Advance previously made or
proposed to be made by the Master Servicer that, in the good faith judgment of
the Master Servicer, will not be ultimately recoverable by the Master Servicer
from the related Mortgagor, related Liquidation Proceeds or otherwise.

      Notice of Final Distribution: The notice to be provided pursuant to
Section 9.02 to the effect that final distribution on any of the Certificates
shall be made only upon presentation and surrender thereof.

      Notional Amount: With respect to the Class X-P Certificates, an amount
equal to the aggregate Component Notional Amount of its IO Components.

      Notional Amount Certificates: Not applicable.

      Offered Certificates: As specified in the Preliminary Statement.

                                       35
<PAGE>

      Officer's Certificate: A certificate (i) in the case of the Depositor,
signed by the Chairman of the Board, the Vice Chairman of the Board, the
President, a Managing Director, a Vice President (however denominated), an
Assistant Vice President, the Treasurer, the Secretary, or one of the
Assistant Treasurers or Assistant Secretaries of the Depositor, (ii) in the
case of the Master Servicer, signed by the President, an Executive Vice
President, a Vice President, an Assistant Vice President, the Treasurer, or
one of the Assistant Treasurers or Assistant Secretaries of Countrywide GP,
Inc. (its general partner), (iii) if provided for in this Agreement, signed by
a Servicing Officer, as the case may be, and delivered to the Depositor and
the Trustee, as the case may be, as required by this Agreement or (iv) in the
case of any other Person, signed by an authorized officer of such Person.

      Old Confirmation: The confirmation, reference number 1772713B, with a
trade date of May 30, 2007 evidencing a transaction between the Swap
Counterparty and Countrywide relating to the Swap Contract.

      Opinion of Counsel: A written opinion of counsel, who may be counsel for
the Depositor, any Seller or the Master Servicer, including in-house counsel,
reasonably acceptable to the Trustee; provided, however, that with respect to
the interpretation or application of the REMIC Provisions, such counsel must
(i) in fact be independent of the Depositor, any Seller and the Master
Servicer, (ii) not have any direct financial interest in the Depositor, any
Seller or the Master Servicer or in any affiliate thereof, and (iii) not be
connected with the Depositor, any Seller or the Master Servicer as an officer,
employee, promoter, underwriter, trustee, partner, director or person
performing similar functions.

      Optional Termination: The termination of the trust created under this
Agreement in connection with the purchase of the Mortgage Loans pursuant to
Section 9.01.

      Optional Termination Date: The Distribution Date on which the Pool
Stated Principal Balance is less than or equal to 5% of the Cut-off Date Pool
Principal Balance of the Mortgage Loans.

      Original Applicable Credit Support Percentage: With respect to each of
the following Classes of Subordinated Certificates, the corresponding
percentage described below, as of the Closing Date:

              Subordinated Certificates
              --------------------------------------------------
              Class M-1                            9.50%
              Class M-2                            7.30%
              Class M-3                            5.85%
              Class M-4                            5.20%
              Class M-5                            4.50%
              Class M-6                            4.00%
              Class M-7                            3.60%
              Class M-8                            3.20%
              Class M-9                            2.90%
              Class B-1                            2.50%
              Class B-2                            1.65%
              Class B-3                            0.70%

                                       36
<PAGE>

      Original Mortgage Loan: The mortgage loan refinanced in connection with
the origination of a Refinancing Mortgage Loan.

      Original Subordinate Principal Balance: The aggregate Class Certificate
Balance of the Subordinated Certificates as of the Closing Date.

      OTS: The Office of Thrift Supervision.

      Outstanding: With respect to the Certificates as of any date of
determination, all Certificates theretofore executed and authenticated under
this Agreement except:

            (i) Certificates theretofore canceled by the Trustee or delivered
            to the Trustee for cancellation; and

            (ii) Certificates in exchange for which or in lieu of which other
            Certificates have been executed and delivered by the Trustee
            pursuant to this Agreement.

      Outstanding Mortgage Loan: As of any Due Date, a Mortgage Loan with a
Stated Principal Balance greater than zero, which was not the subject of a
Principal Prepayment in Full prior to such Due Date or during the Prepayment
Period related to such Due Date and which did not become a Liquidated Mortgage
Loan prior to such Due Date.

      Ownership Interest: As to any Residual Certificate, any ownership
interest in such Certificate including any interest in such Certificate as the
Holder thereof and any other interest therein, whether direct or indirect,
legal or beneficial.

      Park Granada: Park Granada LLC, a Delaware limited liability company,
and its successors and assigns, in its capacity as the seller of the Park
Granada Mortgage Loans to the Depositor.

      Park Granada Mortgage Loans: The Mortgage Loans identified as such on
the Mortgage Loan Schedule for which Park Granada is the applicable Seller.

      Park Monaco: Park Monaco Inc., a Delaware corporation, and its
successors and assigns, in its capacity as the seller of the Park Monaco
Mortgage Loans to the Depositor.

      Park Monaco Mortgage Loans: The Mortgage Loans identified as such on the
Mortgage Loan Schedule for which Park Monaco is the applicable Seller.

      Park Sienna: Park Sienna LLC, a Delaware limited liability company, and
its successors and assigns, in its capacity as the seller of the Park Sienna
Mortgage Loans to the Depositor.

      Park Sienna Mortgage Loans: The Mortgage Loans identified as such on the
Mortgage Loan Schedule for which Park Sienna is the applicable Seller.

      Pass-Through Margin: With respect to the Interest Accrual Period for any
Distribution Date and each Class of LIBOR Certificates, the per annum rate
indicated in the following table:

                                       37
<PAGE>

                                           Pass-Through          Pass-Through
                Class                        Margin (1)           Margin (2)
            Class A-1-A                       0.090%                0.180%
            Class A-1-B                       0.200%                0.400%
            Class A-1-C                       0.270%                0.540%
            Class A-1-D                       0.210%                0.420%
            Class A-2-A                       0.110%                0.220%
            Class A-2-B                       0.250%                0.500%
            Class A-2-C                       0.310%                0.620%
            Class A-2-D                       0.250%                0.500%
            Class A-3                         0.330%                0.660%
            Class M-1                         0.500%                0.750%
            Class M-2                         0.550%                0.825%
            Class M-3                         0.850%                1.275%
            Class M-4                         1.500%                2.250%
            Class M-5                         1.750%                2.625%
            Class M-6                         1.750%                2.625%
            Class M-7                         1.750%                2.625%
            Class M-8                         1.750%                2.625%
            Class M-9                         1.750%                2.625%
            Class B-1                         1.750%                1.750%
            Class B-2                         1.750%                1.750%
            Class B-3                         1.750%                1.750%

            (1)   For the Interest Accrual Period related to any Distribution
                  Date occurring on or prior to the first possible Optional
                  Termination Date.

            (2)   For each other Interest Accrual Period.

      Pass-Through Rate: For any interest-bearing Class of Certificates or
Component, the per annum rate set forth or calculated in the manner described
in the Preliminary Statement.

      Payment Adjustment Date: For each Mortgage Loan, the date specified in
the related Mortgage Note as the annual date on which the related Scheduled
Payment will be adjusted.

      Percentage Interest: In the case of any Certificate, the percentage
interest evidenced thereby in distributions required to be made on the related
Class, such percentage interest being set forth on the face thereof or equal
to the percentage obtained by dividing the Denomination of such Certificate by
the aggregate of the Denominations of all Certificates of the same Class.

      Performance Certification: As defined in Section 11.05.

      Permitted Investments: At any time, any one or more of the following
obligations and securities, each of which shall mature no later than 90 days
after acquisition:

            (i) obligations of the United States or any agency thereof,
            provided such obligations are backed by the full faith and credit
            of the United States;

                                       38
<PAGE>

            (ii) general obligations of or obligations guaranteed by any state
            of the United States or the District of Columbia receiving the
            highest long-term debt rating of each Rating Agency, or such lower
            rating as will not result in the downgrading or withdrawal of the
            ratings then assigned to the Certificates by each Rating Agency;

            (iii) commercial or finance company paper which is then receiving
            the highest commercial or finance company paper rating of each
            Rating Agency, or such lower rating as will not result in the
            downgrading or withdrawal of the ratings then assigned to the
            Certificates by each Rating Agency;

            (iv) certificates of deposit, demand or time deposits, or bankers'
            acceptances issued by any depository institution or trust company
            incorporated under the laws of the United States or of any state
            thereof and subject to supervision and examination by federal
            and/or state banking authorities, provided that the commercial
            paper and/or long term unsecured debt obligations of such
            depository institution or trust company (or in the case of the
            principal depository institution in a holding company system, the
            commercial paper or long-term unsecured debt obligations of such
            holding company, but only if Moody's is not a Rating Agency) are
            then rated one of the two highest long-term and the highest
            short-term ratings of each Rating Agency for such securities, or
            such lower ratings as will not result in the downgrading or
            withdrawal of the rating then assigned to the Certificates by
            either Rating Agency;

            (v) repurchase obligations with respect to any security described
            in clauses (i) and (ii) above, in either case entered into with a
            depository institution or trust company (acting as principal)
            described in clause (iv) above;

            (vi) units of a taxable money-market portfolio having the highest
            rating assigned by each Rating Agency (except if Fitch is a Rating
            Agency and has not rated the portfolio, the highest rating
            assigned by Moody's) and restricted to obligations issued or
            guaranteed by the United States of America or entities whose
            obligations are backed by the full faith and credit of the United
            States of America and repurchase agreements collateralized by such
            obligations; and

            (vii) such other relatively risk free investments bearing interest
            or sold at a discount acceptable to each Rating Agency as will not
            result in the downgrading or withdrawal of the rating then
            assigned to the Certificates by either Rating Agency, as evidenced
            by a signed writing delivered by each Rating Agency

provided, that no such instrument shall be a Permitted Investment if such
instrument evidences the right to receive interest only payments with respect to
the obligations underlying such instrument.

      Permitted Transferee: Any person other than (i) the United States, any
State or political subdivision thereof, or any agency or instrumentality of
any of the foregoing, (ii) a foreign government, International Organization or
any agency or instrumentality of either of the foregoing, (iii) an
organization (except certain farmers' cooperatives described in section 521 of
the Code) which is exempt from tax imposed by Chapter 1 of the Code (including
the tax

                                       39
<PAGE>

imposed by section 511 of the Code on unrelated business taxable income) on
any excess inclusions (as defined in section 860E(c)(1) of the Code) with
respect to any Residual Certificate, (iv) rural electric and telephone
cooperatives described in section 1381(a)(2)(C) of the Code, (v) an "electing
large partnership" as defined in section 775 of the Code, (vi) a Person that
is not a citizen or resident of the United States, a corporation, partnership,
or other entity created or organized in or under the laws of the United
States, any state thereof or the District of Columbia, or an estate or trust
whose income from sources without the United States is includible in gross
income for United States federal income tax purposes regardless of its
connection with the conduct of a trade or business within the United States or
a trust if a court within the United States is able to exercise primary
supervision over the administration of the trust and one or more United States
persons have the authority to control all substantial decisions of the trust
unless such Person has furnished the transferor and the Trustee with a duly
completed Internal Revenue Service Form W-8ECI or any applicable successor
form, and (vii) any other Person so designated by the Depositor based upon an
Opinion of Counsel that the Transfer of an Ownership Interest in a Residual
Certificate to such Person may cause any REMIC created under this Agreement to
fail to qualify as a REMIC at any time that the Certificates are outstanding.
The terms "United States," "State" and "International Organization" shall have
the meanings set forth in section 7701 of the Code or successor provisions. A
corporation will not be treated as an instrumentality of the United States or
of any State or political subdivision thereof for these purposes if all of its
activities are subject to tax and, with the exception of the Federal Home Loan
Mortgage Corporation, a majority of its board of directors is not selected by
such government unit.

      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.

      Physical Certificate: As specified in the Preliminary Statement.

      Planned Balance: With respect to any Planned Principal Class or
Component and any Distribution Date appearing in Schedule V, the amount
appearing opposite such Distribution Date for such Class or Component.

      Planned Principal Classes: As specified in the Preliminary Statement.

      Planned Principal Components: As specified in the Preliminary Statement.

      Pool Stated Principal Balance: As to any Distribution Date, the
aggregate of the Stated Principal Balances of the Mortgage Loans that were
Outstanding Mortgage Loans on the Due Date in the month preceding the month of
such Distribution Date and, as to any other date of determination, the
aggregate of the Stated Principal Balances of the Outstanding Mortgage Loans
as of such date plus the amount on deposit in the Pre-Funding Account,
exclusive of any investment income included therein.

      Pre-Funded Amount: Not applicable.

      Pre-Funding Account: Not applicable.

                                       40
<PAGE>

      Prepayment Charge: With respect to any Mortgage Loan, the charges or
premiums, if any, due in connection with a full or partial prepayment of such
Mortgage Loan within the related Prepayment Charge Period in accordance with
the terms thereof (other than any Master Servicer Prepayment Charge Amount).

      Prepayment Charge Period: With respect to any Mortgage Loan, the period
of time during which a Prepayment Charge may be imposed.

      Prepayment Interest Shortfall: As to any Distribution Date, any Mortgage
Loan and any Principal Prepayment received during the portion of the related
Prepayment Period occurring in the calendar month preceding the month of such
Distribution Date, the amount, if any, by which one month's interest at the
related Adjusted Mortgage Rate on such Principal Prepayment exceeds the amount
of interest paid in connection with such Principal Prepayment.

      Prepayment Period: As to any Distribution Date and the related Due Date,
the period from the 16th day of the calendar month immediately preceding the
month in which the Distribution Date occurs (or, in the case of the first
Distribution Date, from May 1, 2007) through the 15th day of the calendar
month in which the Distribution Date occurs.

      Primary Insurance Policy: Each policy of primary mortgage guaranty
insurance or any replacement policy therefor with respect to any Mortgage
Loan.

      Prime Rate: The prime commercial lending rate of The Bank of New York,
as publicly announced to be in effect from time to time. The Prime Rate shall
be adjusted automatically, without notice, on the effective date of any change
in such prime commercial lending rate. The Prime Rate is not necessarily The
Bank of New York's lowest rate of interest.

      Principal Amount: As to any Distribution Date, the sum of (a) the
principal portion of each Scheduled Payment (without giving effect to any
reductions thereof caused by any Debt Service Reductions or Deficient
Valuations) due on each Mortgage Loan (other than a Liquidated Mortgage Loan)
during the related Due Period, (b) the principal portion of the Purchase Price
of each Mortgage Loan that was repurchased by a Seller or purchased by the
Master Servicer pursuant to this Agreement as of such Distribution Date, (c)
the Substitution Adjustment Amount in connection with any Deleted Mortgage
Loan received with respect to such Distribution Date, (d) any Insurance
Proceeds or Liquidation Proceeds allocable to recoveries of principal of
Mortgage Loans that are not yet Liquidated Mortgage Loans received during the
calendar month preceding the month of such Distribution Date, (e) with respect
to each Mortgage Loan that became a Liquidated Mortgage Loan during the
calendar month preceding the month of such Distribution Date, the amount of
the Net Liquidation Proceeds allocable to principal received during the
calendar month preceding the month of such Distribution Date with respect to
such Mortgage Loan and (f) the Net Prepayments for such Distribution Date.

      Principal Prepayment: Any payment of principal by a Mortgagor on a
Mortgage Loan that is received in advance of its scheduled Due Date and is not
accompanied by an amount representing scheduled interest due on any date or
dates in any month or months subsequent to the month of prepayment. Partial
Principal Prepayments shall be applied by the Master Servicer in accordance
with the terms of the related Mortgage Note.

                                       41
<PAGE>

      Principal Prepayment Amount: As to any Distribution Date, an amount
equal to the sum of all voluntary Principal Prepayments received during the
related Prepayment Period and the amount of any Subsequent Recoveries received
in the prior calendar month.

      Principal Prepayment in Full: Any Principal Prepayment made by a
Mortgagor of the entire principal balance of a Mortgage Loan.

      Principal Reserve Fund: A separate Eligible Account created and
maintained by the Trustee pursuant to Section 3.05(j) with a depository
institution in the name of the Trustee for the benefit of the Class X-P
Certificateholders specified in Section 3.05(j) and designated "The Bank of
New York, Principal Reserve Fund in trust for registered holders of CWALT
2007-OH1 Alternative Loan Trust, Mortgage Pass-Through Certificates, Series
2007-OH1, Class X-P."

      Private Certificate: As specified in the Preliminary Statement.

      Pro Rata Share: As to any Distribution Date, the Subordinated Principal
Distribution Amount and any Class of Subordinated Certificates, the portion of
the Subordinated Principal Distribution Amount allocable to such Class, equal
to the product of the Subordinated Principal Distribution Amount on such
Distribution Date and a fraction, the numerator of which is the related Class
Certificate Balance thereof and the denominator of which is the aggregate of
the Class Certificate Balances of the Subordinated Certificates.

      Proprietary Lease: With respect to any Cooperative Unit, a lease or
occupancy agreement between a Cooperative Corporation and a holder of related
Coop Shares.

      Prospectus: The prospectus dated April 26, 2007 generally relating to
mortgage-pass through certificates to be sold by the Depositor.

      Prospectus Supplement: The prospectus supplement dated May 29, 2007
relating to the Offered Certificates.

      PUD: Planned Unit Development.

      Purchase Price: With respect to any Mortgage Loan required to be
purchased by a Seller pursuant to Section 2.02 or 2.03 of this Agreement or
purchased at the option of the Master Servicer pursuant to Section 3.11, an
amount equal to the sum of (i) 100% of the unpaid principal balance of the
Mortgage Loan on the date of such purchase, (ii) accrued interest thereon at
the applicable Mortgage Rate (or at the applicable Adjusted Mortgage Rate if
(x) the purchaser is the Master Servicer or (y) if the purchaser is
Countrywide and Countrywide is an affiliate of the Master Servicer) from the
date through which interest was last paid by the Mortgagor to the Due Date in
the month in which the Purchase Price is to be distributed to
Certificateholders and (iii) costs and damages incurred by the Trust Fund in
connection with a repurchase pursuant to Section 2.03 of this Agreement that
arises out of a violation of any predatory or abusive lending law with respect
to the related Mortgage Loan.

      Qualified Insurer: A mortgage guaranty insurance company duly qualified
as such under the laws of the state of its principal place of business and
each state having jurisdiction over such insurer in connection with the
insurance policy issued by such insurer, duly authorized and

                                       42
<PAGE>

licensed in such states to transact a mortgage guaranty insurance business in
such states and to write the insurance provided by the insurance policy issued
by it, approved as a FNMA-approved mortgage insurer and having a claims paying
ability rating of at least "AA" or equivalent rating by a nationally
recognized statistical rating organization. Any replacement insurer with
respect to a Mortgage Loan must have at least as high a claims paying ability
rating as the insurer it replaces had on the Closing Date.

      Rating Agency: Each of the Rating Agencies specified in the Preliminary
Statement. If any such organization or a successor is no longer in existence,
"Rating Agency" shall be such nationally recognized statistical rating
organization, or other comparable Person identified as a "Rating Agency" under
the Underwriter's Exemption, as is designated by the Depositor, notice of
which designation shall be given to the Trustee. References in this Agreement
to a given rating category of a Rating Agency shall mean such rating category
without giving effect to any modifiers.

      Realized Loss: With respect to each Liquidated Mortgage Loan, an amount
(not less than zero or more than the Stated Principal Balance of the Mortgage
Loan) as of the date of such liquidation, equal to (i) the Stated Principal
Balance of the Liquidated Mortgage Loan as of the date of such liquidation,
plus (ii) interest at the Adjusted Net Mortgage Rate from the Due Date as to
which interest was last paid or advanced (and not reimbursed) to
Certificateholders up to the Due Date in the month in which Liquidation
Proceeds are required to be distributed on the Stated Principal Balance of
such Liquidated Mortgage Loan from time to time, minus (iii) the Liquidation
Proceeds, if any, received during the month in which such liquidation
occurred, to the extent applied as recoveries of interest at the Adjusted Net
Mortgage Rate and to principal of the Liquidated Mortgage Loan. With respect
to each Mortgage Loan that has become the subject of a Deficient Valuation, if
the principal amount due under the related Mortgage Note has been reduced, the
difference between the principal balance of the Mortgage Loan outstanding
immediately prior to such Deficient Valuation and the principal balance of the
Mortgage Loan as reduced by the Deficient Valuation.

      To the extent the Master Servicer receives Subsequent Recoveries with
respect to any Mortgage Loan, the amount of Realized Losses with respect to
that Mortgage Loan will be reduced by the amount of those Subsequent
Recoveries.

      Recognition Agreement: With respect to any Cooperative Loan, an
agreement between the Cooperative Corporation and the originator of such
Mortgage Loan which establishes the rights of such originator in the
Cooperative Property.

      Record Date: With respect to any Distribution Date, (i) in the case of
the LIBOR Certificates represented by Book-Entry Certificates, the Business
Day immediately preceding such Distribution Date and (ii) in the case of LIBOR
Certificates represented by Definitive Certificates and in the case of all
other Certificates, the close of business on the last Business Day of the
month preceding the month in which such Distribution Date occurs.

      Reference Bank: As defined in Section 4.08(b).

      Refinancing Mortgage Loan: Any Mortgage Loan originated in connection
with the refinancing of an existing mortgage loan.

                                       43
<PAGE>

      Regular Certificates: As specified in the Preliminary Statement.

      Regulation AB: Subpart 229.1100 - Asset Backed Securities (Regulation
AB), 17 C.F.R. ss.ss.229.1100-229.1123, as such may be amended from time to
time, and subject to such clarification and interpretation as have been
provided by the Commission in the adopting release (Asset-Backed Securities,
Securities Act Release No. 33-8518, 70 Fed. Reg. 1,506, 1,531 (Jan. 7, 2005))
or by the staff of the Commission, or as may be provided by the Commission or
its staff from time to time.

      Relief Act: The Servicemembers' Civil Relief Act.

      Relief Act Reductions: With respect to any Distribution Date and any
Mortgage Loan as to which there has been a reduction in the amount of interest
collectible thereon for the most recently ended calendar month as a result of
the application of the Relief Act or any similar law, the amount, if any, by
which (i) interest collectible on such Mortgage Loan for the most recently
ended calendar month is less than (ii) interest accrued thereon for such month
pursuant to the Mortgage Note.

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

      REMIC Change of Law: Any proposed, temporary or final regulation,
revenue ruling, revenue procedure or other official announcement or
interpretation relating to REMICs and the REMIC Provisions issued after the
Closing Date.

      REMIC Provisions: Provisions of the federal income tax law relating to
real estate mortgage investment conduits, which appear at Sections 860A
through 860G of Subchapter M of Chapter 1 of the Code, and related provisions,
and regulations promulgated thereunder, as the foregoing may be in effect from
time to time as well as provisions of applicable state laws.

      REO Property: A Mortgaged Property acquired by the Trust Fund through
foreclosure or deed-in-lieu of foreclosure in connection with a defaulted
Mortgage Loan.

      Reportable Event: Any event required to be reported on Form 8-K, and in
any event, the following:

      (a) entry into a definitive agreement related to the Trust Fund, the
Certificates or the Mortgage Loans, or an amendment to a Transaction Document,
even if the Depositor is not a party to such agreement (e.g., a servicing
agreement with a servicer contemplated by Item 1108(a)(3) of Regulation AB);

      (b) termination of a Transaction Document (other than by expiration of
the agreement on its stated termination date or as a result of all parties
completing their obligations under such agreement), even if the Depositor is
not a party to such agreement (e.g., a servicing agreement with a servicer
contemplated by Item 1108(a)(3) of Regulation AB);

      (c) with respect to the Master Servicer only, if the Master Servicer
becomes aware of any bankruptcy or receivership with respect to Countrywide,
the Depositor, the Master Servicer, any Subservicer, the Trustee, the Swap
Counterparty, any enhancement or support

                                       44
<PAGE>

provider contemplated by Items 1114(b) or 1115 of Regulation AB, or any other
material party contemplated by Item 1101(d)(1) of Regulation AB;

      (d) with respect to the Trustee, the Master Servicer and the Depositor
only, the occurrence of an early amortization, performance trigger or other
event, including an Event of Default under this Agreement;

      (e) the resignation, removal, replacement, substitution of the Master
Servicer, any Subservicer or the Trustee;

      (f) with respect to the Master Servicer only, if the Master Servicer
becomes aware that (i) any material enhancement or support specified in Item
1114(a)(1) through (3) of Regulation AB or Item 1115 of Regulation AB that was
previously applicable regarding one or more Classes of the Certificates has
terminated other than by expiration of the contract on its stated termination
date or as a result of all parties completing their obligations under such
agreement; (ii) any material enhancement specified in Item 1114(a)(1) through
(3) of Regulation AB or Item 1115 of Regulation AB has been added with respect
to one or more Classes of the Certificates; or (iii) any existing material
enhancement or support specified in Item 1114(a)(1) through (3) of Regulation
AB or Item 1115 of Regulation AB with respect to one or more Classes of the
Certificates has been materially amended or modified; and

      (g) with respect to the Trustee, the Master Servicer and the Depositor
only, a required distribution to Holders of the Certificates is not made as of
the required Distribution Date under this Agreement.

      Reporting Subcontractor: With respect to the Master Servicer or the
Trustee, any Subcontractor determined by such Person pursuant to Section
11.08(b) to be "participating in the servicing function" within the meaning of
Item 1122 of Regulation AB. References to a Reporting Subcontractor shall
refer only to the Subcontractor of such Person and shall not refer to
Subcontractors generally.

      Request for Release: The Request for Release submitted by the Master
Servicer to the Trustee, substantially in the form of Exhibits M and N to this
Agreement, as appropriate.

      Required Insurance Policy: With respect to any Mortgage Loan, any
insurance policy that is required to be maintained from time to time under
this Agreement.

      Residual Certificates: As specified in the Preliminary Statement.

      Responsible Officer: When used with respect to the Trustee, any Vice
President, any Assistant Vice President, the Secretary, any Assistant
Secretary, any Trust Officer or any other officer of the Trustee customarily
performing functions similar to those performed by any of the above designated
officers and also to whom, with respect to a particular matter, such matter is
referred because of such officer's knowledge of and familiarity with the
particular subject.

      Restricted Classes: As defined in Section 4.02(e).

      Sarbanes-Oxley Certification: As defined in Section 11.05.

                                       45
<PAGE>

      Scheduled Payment: The scheduled monthly payment on a Mortgage Loan due
in the related Due Period allocable to principal and/or interest on such
Mortgage Loan which, unless otherwise specified in this Agreement, shall give
effect to any related Debt Service Reduction and any Deficient Valuation that
affects the amount of the monthly payment due on such Mortgage Loan.

      Securities Act: The Securities Act of 1933, as amended.

      Seller: Countrywide, Park Granada, Park Monaco or Park Sienna, as
applicable.

      Senior Certificates: As specified in the Preliminary Statement.

      Senior Credit Support Depletion Date: The date on which the aggregate
Class Certificate Balance of the Subordinated Certificates has been reduced to
zero.

      Senior Percentage: As to any Distribution Date, the percentage
equivalent of a fraction, the numerator of which is the aggregate Class
Certificate Balance of the Senior Certificates immediately prior to such
Distribution Date and the denominator of which is the aggregate of the Class
Certificate Balances of all Classes of Certificates immediately prior to such
Distribution Date. In no event will the Senior Percentage be greater than
100%.

      Senior Prepayment Percentage: As to any Distribution Date during the ten
years beginning on the first Distribution Date, 100%. The Senior Prepayment
Percentage for any Distribution Date occurring on or after the tenth
anniversary of the first Distribution Date will, except as provided in this
Agreement, be as follows: for any Distribution Date in the first year
thereafter, the Senior Percentage plus 70% of the Subordinated Percentage for
such Distribution Date; for any Distribution Date in the second year
thereafter, the Senior Percentage plus 60% of the Subordinated Percentage for
such Distribution Date; for any Distribution Date in the third year
thereafter, the Senior Percentage plus 40% of the Subordinated Percentage for
such Distribution Date; for any Distribution Date in the fourth year
thereafter, the Senior Percentage plus 20% of the Subordinated Percentage for
such Distribution Date; and for any Distribution Date thereafter, the Senior
Percentage for such Distribution Date; provided, however, that if on any
Distribution Date the Senior Percentage exceeds the Senior Percentage as of
the Closing Date, then the Senior Prepayment Percentage for such Distribution
Date will equal 100%). Notwithstanding the foregoing, no decrease in the
Senior Prepayment Percentage will occur unless both of the Senior Step Down
Conditions are satisfied. Notwithstanding the foregoing, if the Two Times Test
is satisfied on a Distribution Date, the Senior Prepayment Percentage will
equal (x) if such Distribution Date is on or prior to the Distribution Date in
May 2010, the Senior Percentage plus 50% of the Subordinated Percentage for
the Distribution Date and (y) if such Distribution Date is after the
Distribution Date in May 2010, the Senior Percentage.

      Senior Principal Distribution Amount: As to any Distribution Date, the
sum of (i) the Senior Percentage of all amounts described in clauses (a)
through (d) of the definition of "Principal Amount" for such Distribution
Date, (ii) with respect to any Mortgage Loan that became a Liquidated Mortgage
Loan during the calendar month preceding the month of such Distribution Date,
the lesser of (x) the Senior Percentage of the Stated Principal Balance of
such Mortgage Loan as of the first day of the related Due Period (after giving
effect to Principal Prepayments received in the Prepayment Period related to
the prior Distribution Date) and (y) the

                                       46
<PAGE>

Senior Prepayment Percentage of the amount of the Net Liquidation Proceeds
allocable to principal received on the Mortgage Loan and (iii) the Senior
Prepayment Percentage of the Net Prepayments for that Distribution Date.

      Senior Step Down Conditions: With respect to all of the Mortgage Loans:
(i) the outstanding principal balance of Mortgage Loans delinquent 60 days or
more (including Mortgage Loans in foreclosure, REO Property and Mortgage Loans
the Mortgagors of which are in bankruptcy) (averaged over the preceding six
month period), does not exceed 50% of the aggregate Class Certificate Balance
of the Subordinated Certificates for such Distribution Date, and (ii)
cumulative Realized Losses on the Mortgage Loans do not exceed: (a) commencing
with the Distribution Date on the tenth anniversary of the first Distribution
Date, 30% of the Original Subordinate Principal Balance, (b) commencing with
the Distribution Date on the eleventh anniversary of the first Distribution
Date, 35% of the Original Subordinate Principal Balance, (c) commencing with
the Distribution Date on the twelfth anniversary of the first Distribution
Date, 40% of the Original Subordinate Principal Balance, (d) commencing with
the Distribution Date on the thirteenth anniversary of the first Distribution
Date, 45% of the Original Subordinate Principal Balance and (e) commencing
with the Distribution Date on the fourteenth anniversary of the first
Distribution Date, 50% of the Original Subordinate Principal Balance.

      Servicing Advances: All customary, reasonable and necessary "out of
pocket" costs and expenses incurred in the performance by the Master Servicer
of its servicing obligations, including, but not limited to, the cost of (i)
the preservation, restoration and protection of a Mortgaged Property, (ii) any
expenses reimbursable to the Master Servicer pursuant to Section 3.11 and any
enforcement or judicial proceedings, including foreclosures, (iii) the
management and liquidation of any REO Property and (iv) compliance with the
obligations under Section 3.09.

      Servicing Criteria: The "servicing criteria" set forth in Item 1122(d)
of Regulation AB.

      Servicing Officer: Any officer of the Master Servicer involved in, or
responsible for, the administration and servicing of the Mortgage Loans whose
name and facsimile signature appear on a list of servicing officers furnished
to the Trustee by the Master Servicer on the Closing Date pursuant to this
Agreement, as such list may from time to time be amended.

      S&P: Standard & Poor's Ratings Services, a division of The McGraw-Hill
Companies, Inc. If S&P is designated as a Rating Agency in the Preliminary
Statement, for purposes of Section 10.05(b) the address for notices to S&P
shall be Standard & Poor's Ratings Services, 55 Water Street, New York, New
York 10041, Attention: Mortgage Surveillance Monitoring, or such other address
as S&P may hereafter furnish to the Depositor and the Master Servicer.

      Startup Day: The Closing Date.

      Stated Principal Balance: As to any Mortgage Loan and Due Date, the
unpaid principal balance of such Mortgage Loan as of such Due Date as
specified in the amortization schedule at the time relating thereto (before
any adjustment to such amortization schedule by reason of any moratorium or
similar waiver or grace period), plus any Deferred Interest added to the
principal balance of that Mortgage Loan pursuant to the terms of the related
Mortgage Note on or prior to that Due Date, minus the sum of: (i) any previous
partial Principal Prepayments and the payment

                                       47
<PAGE>

of principal due on such Due Date, irrespective of any delinquency in payment
by the related Mortgagor, (ii) Liquidation Proceeds allocable to principal
(other than with respect to any Liquidated Mortgage Loan) received in the
prior calendar month with respect to that Mortgage Loan; (iii) Principal
Prepayments received through the last day of the related Prepayment Period
with respect to that Mortgage Loan, and (iv) any Realized Loss previously
incurred in connection with a Deficient Valuation. The Stated Principal
Balance of any Mortgage Loan that becomes a Liquidated Mortgage Loan will be
zero on each date following the Due Period in which such Mortgage Loan becomes
a Liquidated Mortgage Loan.

      Streamlined Documentation Mortgage Loan: Any Mortgage Loan originated
pursuant to Countrywide's Streamlined Loan Documentation Program then in
effect. For the purposes of this Agreement, a Mortgagor is eligible for a
mortgage pursuant to Countrywide's Streamlined Loan Documentation Program if
that Mortgagor is refinancing an existing mortgage loan that was originated or
acquired by Countrywide where, among other things, the mortgage loan has not
been more than 30 days delinquent in payment during the previous twelve month
period.

      Subcontractor: Any vendor, subcontractor or other Person that is not
responsible for the overall servicing (as "servicing" is commonly understood
by participants in the mortgage-backed securities market) of Mortgage Loans
but performs one or more discrete functions identified in Item 1122(d) of
Regulation AB with respect to the Mortgage Loans under the direction or
authority of the Master Servicer or a Subservicer or the Trustee, as the case
may be.

      Subordinated Certificates: As specified in the Preliminary Statement.

      Subordinated Percentage: As to any Distribution Date, 100% minus the
Senior Percentage for such Distribution Date.

      Subordinated Prepayment Percentage: As to any Distribution Date, 100%
minus the Senior Prepayment Percentage for such Distribution Date.

      Subordinated Principal Distribution Amount: With respect to any
Distribution Date and the Subordinated Certificates, an amount equal to the
sum, not less than zero, of (i) the Subordinated Percentage of all amounts
described in clauses (a) through (d) of the definition of "Principal Amount"
for that Distribution Date, (ii) with respect to each Mortgage Loan that
became a Liquidated Mortgage Loan during the calendar month preceding the
month of such Distribution Date, the Liquidation Proceeds allocated to
principal received with respect thereto remaining after application thereof
pursuant to clause (ii) of the definition of "Senior Principal Distribution
Amount", up to the Subordinated Percentage of the Stated Principal Balance of
that Mortgage Loan as of the first day of the related Due Period, and (iii)
the Subordinated Prepayment Percentage of the Net Prepayments for such
Distribution Date.

      Subsequent Recoveries: As to any Distribution Date, with respect to a
Liquidated Mortgage Loan that resulted in a Realized Loss in a prior calendar
month, unexpected amounts received by the Master Servicer (net of any related
expenses permitted to be reimbursed pursuant to Section 3.08) specifically
related to such Liquidated Mortgage Loan.

      Subservicer: Any person to whom the Master Servicer has contracted for
the servicing of all or a portion of the Mortgage Loans pursuant to Section
3.02.

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<PAGE>

      Substitute Mortgage Loan: A Mortgage Loan substituted by the applicable
Seller for a Deleted Mortgage Loan which must, on the date of such
substitution, as confirmed in a Request for Release, substantially in the form
of Exhibit M, (i) have a Stated Principal Balance, after deduction of the
principal portion of the Scheduled Payment due in the month of substitution,
not in excess of, and not more than 10% less than the Stated Principal Balance
of the Deleted Mortgage Loan; (ii) be accruing interest at a rate no lower
than and not more than 1% per annum higher than, that of the Deleted Mortgage
Loan; (iii) have a Loan-to-Value Ratio no higher than that of the Deleted
Mortgage Loan; (iv) have a remaining term to maturity no greater than (and not
more than one year less than that of) the Deleted Mortgage Loan; (v) have a
Maximum Mortgage Rate not more than 1% per annum higher or lower than, that of
the Deleted Mortgage Loan; (vi) have a Minimum Mortgage Rate specified in its
related mortgage note not more than 1% per annum higher or lower than the
Minimum Mortgage Rate of the Deleted Mortgage Loan; (vii) have the same
Mortgage Index and Mortgage Index reset period as the Deleted Mortgage Loan
and a Gross Margin not more than 1% per annum higher or lower than that of the
Deleted Mortgage Loan; (viii) not be a Cooperative Loan unless the Deleted
Mortgage Loan was a Cooperative Loan; (ix) have the same Maximum Negative
Amortization, payment cap and recast provisions as the Deleted Mortgage Loan;
(x) comply with each representation and warranty set forth in Section 2.03;
and (xi) provide for a Prepayment Charge on terms substantially similar to
those of the Prepayment Charge, if any, of the Deleted Mortgage Loan.

      Substitution Adjustment Amount: The meaning ascribed to such term
pursuant to Section 2.03.

      Supplemental Cut-off Date: With respect to any Supplemental Mortgage
Loan, the later of (i) the date of origination of such Mortgage Loan and (ii)
the first day of the month in which the related Supplemental Transfer Date
occurs.

      Supplemental Mortgage Loan: Any Mortgage Loan other than an Initial
Mortgage Loan conveyed to the Trust Fund pursuant to Section 2.01 hereof and
to a Supplemental Transfer Agreement, which Mortgage Loan shall be listed on
the revised Mortgage Loan Schedule delivered pursuant to this Agreement and on
Schedule A to such Supplemental Transfer Agreement. When used with respect to
a single Supplemental Transfer Date, Supplemental Mortgage Loan shall mean a
Supplemental Mortgage Loan conveyed to the Trust Fund on that Supplemental
Transfer Date.

      Supplemental Transfer Agreement: A Supplemental Transfer Agreement
substantially in the form of Exhibit P hereto, executed and delivered by the
related Seller or Sellers, the Master Servicer, the Depositor and the Trustee
as provided in Section 2.01 hereof.

      Supplemental Transfer Date: For any Supplemental Transfer Agreement, the
date the related Supplemental Mortgage Loans are transferred to the Trust Fund
pursuant to the related Supplemental Transfer Agreement.

      Swap Account: The separate Eligible Account created and initially
maintained by the Swap Trustee pursuant to Section 4.09.

      Swap Certificates: The LIBOR Certificates and the Class X-P
Certificates.

                                       49
<PAGE>

      Swap Contract: The transaction (as assigned to the Swap Contract
Administrator pursuant to the Swap Contract Assignment Agreement) evidenced by
the New Confirmation, including the Credit Support Annex annexed thereto.

      Swap Contract Administration Agreement: The swap contract administration
agreement dated as of the Closing Date among Countrywide, the Trustee and the
Swap Contract Administrator.

      Swap Contract Administrator: The Bank of New York, in its capacity as
swap contract administrator under the Swap Contract Administration Agreement
and its successors and assigns.

      Swap Contract Assignment Agreement: The Assignment Agreement dated as of
the Closing Date among Countrywide, the Swap Contract Administrator and the
Swap Counterparty.

      Swap Contract Termination Date: The Distribution Date in June 2012.

      Swap Counterparty: Barclays Bank PLC and its successors.

      Swap Counterparty Trigger Event: Either (i) an "Event of Default" under
the Swap Contract with respect to which the Swap Counterparty is the sole
"Defaulting Party" (as defined in the Swap Contract) or (ii) a "Termination
Event" (other than an Illegality or a Tax Event (as such terms are defined in
the Swap Contract)) or "Additional Termination Event" under the Swap Contract
with respect to which the Swap Counterparty is the sole "Affected Party" (as
defined in the Swap Contract).

      Swap Termination Payment: The payment payable to either party under the
Swap Contract due to an early termination of the Swap Contract.

      Swap Trust: The trust fund established by Section 4.09.

      Swap Trustee: The Bank of New York, a New York banking corporation, not
in its individual capacity, but solely in its capacity as trustee for the
benefit of the Holders of the Interest-Bearing Certificates under this
Agreement, and any successor thereto, and any corporation or national banking
association resulting from or surviving any consolidation or merger to which
it or its successors may be a party and any successor trustee as may from time
to time be serving as successor trustee hereunder.

      Tax Matters Person: The person designated as "tax matters person" in the
manner provided under Treasury regulation ss. 1.860F-4(d) and Treasury
regulation ss. 301.6231(a)(7)-1. Initially, the Tax Matters Person shall be
the Trustee.

      Tax Matters Person Certificate: The Class A-R Certificate with a
Denomination of $0.01.

      Transaction Documents: This Agreement, the Swap Contract, the Swap
Contract Administration Agreement and any other document or agreement entered
into in connection with the Trust Fund, the Certificates or the Mortgage
Loans.

                                       50
<PAGE>

      Transfer: Any direct or indirect transfer or sale of any Ownership
Interest in a Residual Certificate.

      Trust Fund: The corpus of the trust created under this Agreement
consisting of (i) the Mortgage Loans and all interest and principal received
on or with respect thereto after the Cut-off Date to the extent not applied in
computing the Cut-off Date Principal Balance of the Mortgage Loans; (ii) the
Certificate Account, the Carryover Shortfall Reserve Fund, the Pre-Funding
Account, the Capitalized Interest Account, the Distribution Account and all
amounts deposited therein pursuant to the applicable provisions of this
Agreement; (iii) property that secured a Mortgage Loan and has been acquired
by foreclosure, deed-in-lieu of foreclosure or otherwise; and (iv) all
proceeds of the conversion, voluntary or involuntary, of any of the foregoing.

      Trustee: The Bank of New York and its successors and, if a successor
trustee is appointed under this Agreement, such successor.

      Trustee Advance Rate: With respect to any Advance made by the Trustee
pursuant to Section 4.01(b), a per annum rate of interest determined as of the
date of such Advance equal to the Prime Rate in effect on such date plus
5.00%.

      Trustee Fee: As to any Distribution Date, an amount equal to one-twelfth
of the Trustee Fee Rate multiplied by the sum of (i) the Pool Stated Principal
Balance and (ii) any amounts remaining in the Pre-Funding Account (excluding
any investment earnings thereon) with respect to such Distribution Date.

      Trustee Fee Rate: With respect to each Mortgage Loan, 0.009% per annum.

      Two Times Test: As to any Distribution Date and the Subordinated
Certificates, if (i) the Subordinated Percentage is at least 200% of the
Subordinated Percentage as of the Closing Date, (ii) clause (i) of the Senior
Step Down Conditions is satisfied and (iii) the cumulative Realized Losses on
all the Mortgage Loans do not exceed (x) with respect to any Distribution Date
on or prior to May 2010, 20% of the aggregate Class Certificate Balance of the
Subordinated Certificates as of the Closing Date or (y) with respect to any
Distribution Date after May 2010, 30% of the aggregate Class Certificate
Balance of the Subordinated Certificates as of the Closing Date.

      Underwriter: As specified in the Preliminary Statement.

      Underwriter's Exemption: Prohibited Transaction Exemption 2002-41, 67
Fed. Reg. 54487 (2002), as amended (or any successor thereto), or any
substantially similar administrative exemption granted by the U.S. Department
of Labor.

      Voting Rights: The portion of the voting rights of all of the
Certificates which is allocated to any Certificate. As of any date of
determination, (a) 1% of all Voting Rights shall be allocated to each Class of
Component Certificates (such Voting Rights to be allocated among the holders
of Certificates of each such Class in accordance with their respective
Percentage Interests), and (b) the remaining Voting Rights shall be allocated
among Holders of the remaining Classes of Certificates in proportion to the
Certificate Balances of their respective Certificates on such date.

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<PAGE>

      Weighted Average Adjusted Net Mortgage Rate: As to any Distribution
Date, the average of the Adjusted Net Mortgage Rate of each Mortgage Loan,
weighted on the basis of its Stated Principal Balance as of the first day of
the related Due Period (after giving effect to Principal Prepayments received
in the Prepayment Period related to the prior Distribution Date).

      SECTION 1.02. Certain Interpretive Principles.

      All terms defined in this Agreement shall have the defined meanings when
used in any certificate, agreement or other document delivered pursuant hereto
unless otherwise defined therein. For purposes of this Agreement and all such
certificates and other documents, unless the context otherwise requires: (a)
accounting terms not otherwise defined in this Agreement, and accounting terms
partly defined in this Agreement to the extent not defined, shall have the
respective meanings given to them under generally accepted accounting
principles; (b) the words "hereof," "herein" and "hereunder" and words of
similar import refer to this Agreement (or the certificate, agreement or other
document in which they are used) as a whole and not to any particular
provision of this Agreement (or such certificate, agreement or document); (c)
references to any Section, Schedule or Exhibit are references to Sections,
Schedules and Exhibits in or to this Agreement, and references to any
paragraph, subsection, clause or other subdivision within any Section or
definition refer to such paragraph, subsection, clause or other subdivision of
such Section or definition; (d) the term "including" means "including without
limitation"; (e) references to any law or regulation refer to that law or
regulation as amended from time to time and include any successor law or
regulation; (f) references to any agreement refer to that agreement as amended
from time to time; (g) references to any Person include that Person's
permitted successors and assigns; and (h) a Mortgage Loan is "30 days
delinquent" if any Scheduled Payment has not been received by the close of
business on the day immediately preceding the Due Date on which the next
Scheduled Payment is due. Similarly for "60 days delinquent," "90 days
delinquent" and so on. Unless otherwise provided in this Agreement, the
determination as to whether a Mortgage Loan falls into a delinquency category
shall be made as of the close of business on the last day of each month prior
to the date of determining the delinquency.

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<PAGE>

                                   ARTICLE II
                          CONVEYANCE OF MORTGAGE LOANS;
                         REPRESENTATIONS AND WARRANTIES

      SECTION 2.01. Conveyance of Mortgage Loans

      (a) Each Seller, concurrently with the execution and delivery hereof,
hereby sells, transfers, assigns, sets over and otherwise conveys to the
Depositor, without recourse, all its respective right, title and interest in
and to the related Initial Mortgage Loans, including all interest and
principal received or receivable by such Seller, on or with respect to the
applicable Initial Mortgage Loans after the Initial Cut-off Date and all
interest and principal payments on the related Initial Mortgage Loans received
prior to the Initial Cut-off Date in respect of installments of interest and
principal due thereafter, but not including payments of principal and interest
due and payable on such Initial Mortgage Loans, on or before the Initial
Cut-off Date. On or prior to the Closing Date, Countrywide shall deliver to
the Depositor or, at the Depositor's direction, to the Trustee or other
designee of the Depositor, the Mortgage File for each Mortgage Loan listed in
the Mortgage Loan Schedule (except that, in the case of the Delay Delivery
Mortgage Loans (which may include Countrywide Mortgage Loans, Park Granada
Mortgage Loans, Park Monaco Mortgage Loans and Park Sienna Mortgage Loans),
such delivery may take place within thirty (30) days following the Closing
Date or twenty (20) days following the applicable Supplemental Transfer Date,
as applicable). Such delivery of the Mortgage Files shall be made against
payment by the Depositor of the purchase price, previously agreed to by the
Sellers and Depositor, for the Mortgage Loans. With respect to any Initial
Mortgage Loan that does not have a first payment date on or before the Due
Date in the month of the first Distribution Date or any Supplemental Mortgage
Loan that does not have a first payment date on or before the Due Date in the
month after the related Supplemental Transfer Date, Countrywide shall deposit
into the Distribution Account on or before the Distribution Account Deposit
Date relating to the first applicable Distribution Date, an amount equal to
one month's interest at the related Adjusted Mortgage Rate on the Cut-off Date
Principal Balance of such Mortgage Loan.

            Countrywide further agrees (x) to cause The Bank of New York to
enter into the Swap Contract Administration Agreement as Swap Contract
Administrator and (y) to assign all of its right, title and interest in and to
the interest rate swap transaction evidenced by the Old Confirmation, and to
cause all of its obligations in respect of such transaction to be assumed by,
the Swap Contract Administrator, on the terms and conditions set forth in the
Swap Contract Assignment Agreement.

      (b) Immediately upon the conveyance of the Initial Mortgage Loans
referred to in clause (a), the Depositor sells, transfers, assigns, sets over
and otherwise conveys to the Trustee for the benefit of the
Certificateholders, without recourse, all the right, title and interest of the
Depositor in and to the Trust Fund together with the Depositor's right to
require each Seller to cure any breach of a representation or warranty made
herein by such Seller, or to repurchase or substitute for any affected
Mortgage Loan in accordance herewith.

      (c) In connection with the transfer and assignment set forth in clause
(b) above, the Depositor has delivered or caused to be delivered to the
Trustee (or, in the case of the Delay Delivery Mortgage Loans that are Initial
Mortgage Loans, will deliver or cause to be delivered to the Trustee within
thirty (30) days following the Closing Date and in the case of the Delay

                                       53
<PAGE>

Delivery Mortgage Loans that are Supplemental Mortgage Loans, will deliver or
cause to be delivered to the Trustee within twenty (20) days following the
applicable Supplemental Transfer Date) for the benefit of the
Certificateholders the following documents or instruments with respect to each
Mortgage Loan so assigned:

                  (i) (A) the original Mortgage Note endorsed by manual or
            facsimile signature in blank in the following form: "Pay to the
            order of ____________ without recourse," with all intervening
            endorsements showing a complete chain of endorsement from the
            originator to the Person endorsing the Mortgage Note (each such
            endorsement being sufficient to transfer all right, title and
            interest of the party so endorsing, as noteholder or assignee
            thereof, in and to that Mortgage Note); or

                     (B) with respect to any Lost Mortgage Note, a lost note
            affidavit from Countrywide stating that the original Mortgage Note
            was lost or destroyed, together with a copy of such Mortgage Note;

                  (ii) except as provided below and for each Mortgage Loan
            that is not a MERS Mortgage Loan, the original recorded Mortgage
            or a copy of such Mortgage, with recording information, (or, in
            the case of a Mortgage for which the related Mortgaged Property is
            located in the Commonwealth of Puerto Rico, a true copy of the
            Mortgage certified as such by the applicable notary) and in the
            case of each MERS Mortgage Loan, the original Mortgage or a copy
            of such mortgage, with recording information, noting the presence
            of the MIN of the Mortgage Loans and either language indicating
            that the Mortgage Loan is a MOM Loan if the Mortgage Loan is a MOM
            Loan or if the Mortgage Loan was not a MOM Loan at origination,
            the original Mortgage and the assignment thereof to MERS, with
            evidence of recording indicated thereon, or a copy of the Mortgage
            certified by the public recording office in which such Mortgage
            has been recorded;

                  (iii) in the case of each Mortgage Loan that is not a MERS
            Mortgage Loan, a duly executed assignment of the Mortgage or a
            copy of such assignment, with recording information, (which may be
            included in a blanket assignment or assignments), together with,
            except as provided below, all interim recorded assignments of such
            mortgage or a copy of such assignment, with recording information,
            (each such assignment, when duly and validly completed, to be in
            recordable form and sufficient to effect the assignment of and
            transfer to the assignee thereof, under the Mortgage to which the
            assignment relates); provided that, if the related Mortgage has
            not been returned from the applicable public recording office,
            such assignment of the Mortgage may exclude the information to be
            provided by the recording office; provided, further, that such
            assignment of Mortgage need not be delivered in the case of a
            Mortgage for which the related Mortgaged Property is located in
            the Commonwealth of Puerto Rico;

                  (iv) the original or copies of each assumption,
            modification, written assurance or substitution agreement, if any;

                                       54
<PAGE>

                  (v) except as provided below, the original or a copy of
            lender's title policy or a printout of the electronic equivalent
            and all riders thereto; and

                  (vi) in the case of a Cooperative Loan, the originals of the
            following documents or instruments:

                        (A) The Coop Shares, together with a stock power in
                  blank;

                        (B) The executed Security Agreement;

                        (C) The executed Proprietary Lease;

                        (D) The executed Recognition Agreement;

                        (E) The executed UCC-1 financing statement with
                  evidence of recording thereon which have been filed in all
                  places required to perfect the applicable Seller's interest
                  in the Coop Shares and the Proprietary Lease; and

                        (F) The executed UCC-3 financing statements or other
                  appropriate UCC financing statements required by state law,
                  evidencing a complete and unbroken line from the mortgagee
                  to the Trustee with evidence of recording thereon (or in a
                  form suitable for recordation).

      In addition, in connection with the assignment of any MERS Mortgage
Loan, each Seller agrees that it will cause, at the Trustee's expense, the
MERS(R) System to indicate that the Mortgage Loans sold by such Seller to the
Depositor have been assigned by that Seller to the Trustee in accordance with
this Agreement (and any Supplemental Transfer Agreement, as applicable) for
the benefit of the Certificateholders 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(R) System to identify
the series of the Certificates issued in connection with such Mortgage Loans.
Each Seller further agrees that it will not, and will not permit the Master
Servicer to, and the Master Servicer agrees that it will not, alter the
information referenced in this paragraph with respect to any Mortgage Loan
sold by such Seller to the Depositor during the term of this Agreement unless
and until such Mortgage Loan is repurchased in accordance with the terms of
this Agreement.

      In the event that in connection with any Mortgage Loan that is not a
MERS Mortgage Loan the Depositor cannot deliver (a) the original recorded
Mortgage or a copy of such mortgage, with recording information, or (b) all
interim recorded assignments or a copy of such assignments, with recording
information, or (c) the lender's title policy or a copy of lender's title
policy (together with all riders thereto) satisfying the requirements of
clause (ii), (iii) or (v) above, respectively, concurrently with the execution
and delivery of this Agreement because such document or documents have not
been returned from the applicable public recording office in the case of
clause (ii) or (iii) above, or because the title policy has not been delivered
to either the Master Servicer or the Depositor by the applicable title insurer
in the case of clause (v) above, the Depositor shall promptly deliver to the
Trustee, in the case of clause (ii) or (iii) above, such original Mortgage or
a copy of such mortgage, with recording information, or such interim

                                       55
<PAGE>

assignment or a copy of such assignments, with recording information, as the
case may be, with evidence of recording indicated thereon upon receipt thereof
from the public recording office, or a copy thereof, certified, if
appropriate, by the relevant recording office, but in no event shall any such
delivery of the original Mortgage and each such interim assignment or a copy
thereof, certified, if appropriate, by the relevant recording office, be made
later than one year following the Closing Date, or, in the case of clause (v)
above, no later than 120 days following the Closing Date; provided, however,
in the event the Depositor is unable to deliver by such date each Mortgage and
each such interim assignment by reason of the fact that any such documents
have not been returned by the appropriate recording office, or, in the case of
each such interim assignment, because the related Mortgage has not been
returned by the appropriate recording office, the Depositor shall deliver such
documents to the Trustee as promptly as possible upon receipt thereof and, in
any event, within 720 days following the Closing Date. The Depositor shall
forward or cause to be forwarded to the Trustee (a) from time to time
additional original documents evidencing an assumption or modification of a
Mortgage Loan and (b) any other documents required to be delivered by the
Depositor or the Master Servicer to the Trustee. In the event that the
original Mortgage is not delivered and in connection with the payment in full
of the related Mortgage Loan and the public recording office requires the
presentation of a "lost instruments affidavit and indemnity" or any equivalent
document, because only a copy of the Mortgage can be delivered with the
instrument of satisfaction or reconveyance, the Master Servicer shall execute
and deliver or cause to be executed and delivered such a document to the
public recording office. In the case where a public recording office retains
the original recorded Mortgage or in the case where a Mortgage is lost after
recordation in a public recording office, Countrywide shall deliver to the
Trustee a copy of such Mortgage certified by such public recording office to
be a true and complete copy of the original recorded Mortgage.

      As promptly as practicable subsequent to such transfer and assignment,
and in any event, within one hundred twenty (120) days thereafter, the Trustee
shall (A) as the assignee thereof, affix the following language to each
assignment of Mortgage: "CWALT Series 2007-OH1, The Bank of New York, as
trustee", (B) cause such assignment to be in proper form for recording in the
appropriate public office for real property records and (C) cause to be
delivered for recording in the appropriate public office for real property
records the assignments of the Mortgages to the Trustee, except that (i) with
respect to any assignments of Mortgage as to which the Trustee has not
received the information required to prepare such assignment in recordable
form, the Trustee's obligation to do so and to deliver the same for such
recording shall be as soon as practicable after receipt of such information
and in any event within thirty (30) days after receipt thereof and (ii) the
Trustee need not cause to be recorded any assignment which relates to a
Mortgage Loan the Mortgaged Property and Mortgage File relating to which are
located in any jurisdiction (including Puerto Rico) under the laws of which
the recordation of such assignment is not necessary to protect the Trustee's
and the Certificateholders' interest in the related Mortgage Loan as evidenced
by an opinion of counsel delivered by Countrywide to the Trustee within 90
days of the Closing Date (which opinion may be in the form of a "survey"
opinion and is not required to be delivered by counsel admitted to practice
law in the jurisdiction as to which such legal opinion applies).

      In the case of Mortgage Loans that have been prepaid in full as of the
Closing Date, the Depositor, in lieu of delivering the above documents to the
Trustee, will deposit in the Certificate

                                       56
<PAGE>

Account the portion of such payment that is required to be deposited in the
Certificate Account pursuant to Section 3.05.

      Notwithstanding anything to the contrary in this Agreement, within
thirty (30) days after the Closing Date with respect to the Initial Mortgage
Loans, Countrywide (on its own behalf and on behalf of Park Granada, Park
Monaco and Park Sienna) shall either (i) deliver to the Depositor, or at the
Depositor's direction, to the Trustee or other designee of the Depositor the
Mortgage File as required pursuant to this Section 2.01 for each Delay
Delivery Mortgage Loan or (ii) either (A) substitute a Substitute Mortgage
Loan for the Delay Delivery Mortgage Loan or (B) repurchase the Delay Delivery
Mortgage Loan, which substitution or repurchase shall be accomplished in the
manner and subject to the conditions set forth in Section 2.03 (treating each
Delay Delivery Mortgage Loan as a Deleted Mortgage Loan for purposes of such
Section 2.03); provided, however, that if Countrywide fails to deliver a
Mortgage File for any Delay Delivery Mortgage Loan within the thirty (30) day
period provided in the prior sentence, Countrywide (on its own behalf and on
behalf of Park Granada, Park Monaco and Park Sienna) shall use its best
reasonable efforts to effect a substitution, rather than a repurchase of, such
Deleted Mortgage Loan and provided further that the cure period provided for
in Section 2.02 or in Section 2.03 shall not apply to the initial delivery of
the Mortgage File for such Delay Delivery Mortgage Loan, but rather
Countrywide (on its own behalf and on behalf of Park Granada, Park Monaco and
Park Sienna) shall have five (5) Business Days to cure such failure to
deliver. At the end of such thirty (30) day period the Trustee shall send a
Delay Delivery Certification for the Delay Delivery Mortgage Loans delivered
during such thirty (30) day period in accordance with the provisions of
Section 2.02.

      Notwithstanding anything to the contrary in this Agreement, within
twenty (20) days after a Supplemental Transfer Date with respect to all of the
Supplemental Mortgage Loans sold to the Depositor on such Supplemental
Transfer Date, Countrywide (on its own behalf and on behalf of Park Granada,
Park Monaco and Park Sienna) shall either (i) deliver to the Depositor, or at
the Depositor's direction, to the Trustee or other designee of the Depositor
the Mortgage File as required pursuant to this Section 2.01 for each Delay
Delivery Mortgage Loan or (ii) (A) substitute a Substitute Mortgage Loan for
the Delay Delivery Mortgage Loan or (B) repurchase the Delay Delivery Mortgage
Loan, which substitution or repurchase shall be accomplished in the manner and
subject to the conditions set forth in Section 2.03 (treating each Delay
Delivery Mortgage Loan as a Deleted Mortgage Loan for purposes of such Section
2.03); provided, however, that if Countrywide fails to deliver a Mortgage File
for any Delay Delivery Mortgage Loan within the twenty (20) day period
provided in the prior sentence, Countrywide (on its own behalf and on behalf
of Park Granada, Park Monaco and Park Sienna) shall use its best reasonable
efforts to effect a substitution, rather than a repurchase of, such Deleted
Mortgage Loan and provided further that the cure period provided for in
Section 2.02 or in Section 2.03 shall not apply to the initial delivery of the
Mortgage File for such Delay Delivery Mortgage Loan, but rather Countrywide
(on its own behalf and on behalf of Park Granada, Park Monaco and Park Sienna)
shall have five (5) Business Days to cure such failure to deliver. At the end
of such twenty (20) day period the Trustee shall send a Delay Delivery
Certification for the Delay Delivery Mortgage Loans delivered during such
twenty (20) day period in accordance with the provisions of Section 2.02.

      (d) Subject to the execution and delivery of the related Supplemental
Transfer Agreement as provided in Section 2.01(e) hereof and the terms and
conditions of this Agreement,

                                       57
<PAGE>

each Seller sells, transfers, assigns, sets over and otherwise conveys to the
Depositor, without recourse, on each Supplemental Transfer Date, with respect
to each Supplemental Mortgage Loan sold by such Seller to the Depositor, all
the right, title and interest of that Seller in and to the Supplemental
Mortgage Loans sold by it identified in such Supplemental Transfer Agreement,
including all interest and principal received and receivable by such Seller on
or with respect to the related Supplemental Mortgage Loans on and after the
related Supplemental Cut-off Date (to the extent not applied in computing the
Cut-off Date Principal Balance thereof) or deposited into the Certificate
Account by the related Seller, other than principal and interest due on such
Supplemental Mortgage Loans prior to the related Supplemental Cut-off Date.

      Immediately upon the conveyance of the Supplemental Mortgage Loans
referred to in the preceding paragraph, the Depositor sells, transfers,
assigns, sets over and otherwise conveys to the Trustee for benefit of the
Certificateholders, without recourse, all right title and interest in all of
the Supplemental Mortgage Loans.

      Each Seller has entered into this Agreement in consideration for the
purchase of the Mortgage Loans sold by such Seller to the Depositor and has
agreed to take the actions specified herein. The Depositor, concurrently with
the execution and delivery of this Agreement, hereby sells, transfers, assigns
and otherwise conveys to the Trustee for the use and benefit of the
Certificateholders, without recourse, all right title and interest in the
portion of the Trust Fund not otherwise conveyed to the Trust Fund pursuant to
Sections 2.01(a) or (b).

      (e) Upon five (5) Business Days written notice to the Trustee, the
Depositor, the Master Servicer (if the Master Servicer is not a Seller) and
the Rating Agencies, on any other Business Day during the Funding Period
designated by Countrywide, Park Granada, Park Monaco and Park Sienna, if
applicable, the Depositor and the Trustee shall complete, execute and deliver
a Supplemental Transfer Agreement so long as no Rating Agency has provided
notice that the execution and delivery of such Supplemental Transfer Agreement
will result in a reduction or withdrawal of the any ratings assigned to the
Certificates. After the execution and delivery of such Supplemental Transfer
Agreement, on the Supplemental Transfer Date, the Trustee shall set aside in
the Pre-Funding Account an amount equal to the Aggregate Supplemental Purchase
Amount.

      The transfer of Supplemental Mortgage Loans and the other property and
rights relating to them on a Supplemental Transfer Date is subject to the
satisfaction of each of the following conditions:

            (i) each Supplemental Mortgage Loan conveyed on such Supplemental
      Transfer Date satisfies the representations and warranties applicable to
      it under this Agreement; provided, however, that with respect to a
      breach of a representation and warranty with respect to a Supplemental
      Mortgage Loan, the obligation under Section 2.03(c) of this Agreement of
      Countrywide, Park Granada, Park Monaco and Park Sienna, if applicable,
      to cure, repurchase or replace such Supplemental Mortgage Loan shall
      constitute the sole remedy against such Seller respecting such breach
      available to Certificateholders, the Depositor or the Trustee;

                                       58
<PAGE>

            (ii) the Trustee, the Underwriter and the Rating Agencies are
      provided with an Opinion of Counsel or Opinions of Counsel with respect
      to the tax treatment of the Trust Fund, to be delivered as provided
      pursuant to Section 2.01(f);

            (iii) the Rating Agencies and the Underwriter are provided with an
      Opinion of Counsel or Opinions of Counsel with respect to the validity
      of the conveyance of the Supplemental Mortgage Loans conveyed on such
      Supplemental Transfer Date, to be delivered as provided pursuant to
      Section 2.01(f);

            (iv) the execution and delivery of such Supplemental Transfer
      Agreement or conveyance of the related Supplemental Mortgage Loans does
      not result in a reduction or withdrawal of any ratings assigned to the
      Certificates by the Rating Agencies;

            (v) the Supplemental Mortgage Loans conveyed on such Supplemental
      Transfer Date were selected in a manner reasonably believed not to be
      adverse to the interests of the Certificateholders;

            (vi) as of such Supplemental Transfer Date, all payments with
      respect to each Supplemental Mortgage Loan conveyed on such Supplemental
      Transfer Date due prior to the related Supplemental Cut-off Date have
      been made;

            (vii) following the conveyance of the Supplemental Mortgage Loans
      on such Supplemental Transfer Date to the Trust Fund, the
      characteristics of the Mortgage Loans will comply with the Pool
      Characteristics (including the permitted variances listed therein);
      provided, that for the purpose of making these calculations, the
      characteristics for any Initial Mortgage Loan made will be taken as of
      the Initial Cut-off Date and the characteristics for any Supplemental
      Mortgage Loan will be taken as of the related Supplemental Cut-off Date;

            (viii) none of the Sellers or the Depositor shall be insolvent or
      shall be rendered insolvent as a result of such transfer; and

            (ix) the Depositor shall have delivered to the Trustee an
      Officer's Certificate confirming the satisfaction of each of these
      conditions precedent.

      (f) The Trustee shall not be required to investigate or otherwise verify
compliance with these conditions, except for its own receipt of documents
specified above, and shall be entitled to rely on the required Officer's
Certificate.

      (g) Within seven Business Days after each Supplemental Transfer Date,
upon (1) delivery to the Trustee by the Depositor or Countrywide of the
Opinions of Counsel referred to in Sections 2.01(e)(ii) and (iii), (2)
delivery to the Trustee by Countrywide of a revised Mortgage Loan Schedule
reflecting the Supplemental Mortgage Loans conveyed on such Supplemental
Transfer Date and (3) delivery to the Trustee by the Depositor of an Officer's
Certificate confirming the satisfaction of each of the conditions precedent
set forth in this Section 2.01(f), the Trustee shall pay to each Seller the
portion of the Aggregate Supplemental Transfer Amount used to purchase
Supplemental Mortgage Loans from such Seller from those funds that were set
aside in the Pre-Funding Account pursuant to Section 2.01(e). The positive
difference, if any,

                                       59
<PAGE>

between the Aggregate Supplemental Transfer Amount and the Aggregate
Supplemental Purchase Amount shall be reinvested by the Trustee in the
Pre-Funding Account.

      (h) The Trustee shall not be required to investigate or otherwise verify
compliance with the conditions set forth in the preceding paragraph, except
for its own receipt of documents specified above, and shall be entitled to
rely on the required Officer's Certificate.

      Within thirty days after the final Supplemental Transfer Date, the
Depositor shall deliver to the Trustee a letter of a nationally recognized
firm of independent public accountants stating whether or not the Supplemental
Mortgage Loans conveyed on such Supplemental Transfer Date conform to the
characteristics in Section 2.01(e)(vi) and (vii).

      (i) Neither the Depositor nor the Trust will acquire or hold any
Mortgage Loan that would violate the representations made by Countrywide set
forth in clauses (50) and (51) of Schedule III-A hereto.

      SECTION 2.02. Acceptance by Trustee of the Mortgage Loans.

      (a) The Trustee acknowledges receipt of the documents identified in the
Initial Certification in the form annexed hereto as Exhibit F-1 (an "Initial
Certification") and declares that it holds and will hold such documents and
the other documents delivered to it constituting the Mortgage Files, and that
it holds or will hold such other assets as are included in the Trust Fund, in
trust for the exclusive use and benefit of all present and future
Certificateholders. The Trustee acknowledges that it will maintain possession
of the Mortgage Notes in the State of California, unless otherwise permitted
by the Rating Agencies.

      The Trustee agrees to execute and deliver on the Closing Date to the
Depositor, the Master Servicer and Countrywide (on its own behalf and on
behalf of Park Granada, Park Monaco and Park Sienna) an Initial Certification
in the form annexed hereto as Exhibit F-1. Based on its review and
examination, and only as to the documents identified in such Initial
Certification, the Trustee acknowledges that such documents appear regular on
their face and relate to such Initial Mortgage Loan. The Trustee shall be
under no duty or obligation to inspect, review or examine said documents,
instruments, certificates or other papers to determine that the same are
genuine, enforceable or appropriate for the represented purpose or that they
have actually been recorded in the real estate records or that they are other
than what they purport to be on their face.

      On or about the thirtieth (30th) day after the Closing Date, the Trustee
shall deliver to the Depositor, the Master Servicer and Countrywide (on its
own behalf and on behalf of Park Granada, Park Monaco and Park Sienna) a Delay
Delivery Certification with respect to the Initial Mortgage Loans in the form
annexed hereto as Exhibit G-1 (a "Delay Delivery Certification"), with any
applicable exceptions noted thereon.

      Not later than 90 days after the Closing Date, the Trustee shall deliver
to the Depositor, the Master Servicer and Countrywide (on its own behalf and
on behalf of Park Granada, Park Monaco and Park Sienna) a Final Certification
with respect to the Initial Mortgage Loans in the form annexed hereto as
Exhibit H-1 (a "Final Certification"), with any applicable exceptions noted
thereon.

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<PAGE>

      If, in the course of such review, the Trustee finds any document
constituting a part of a Mortgage File that does not meet the requirements of
Section 2.01, the Trustee shall list such as an exception in the Final
Certification; provided, however that the Trustee shall not make any
determination as to whether (i) any endorsement is sufficient to transfer all
right, title and interest of the party so endorsing, as noteholder or assignee
thereof, in and to that Mortgage Note or (ii) any assignment is in recordable
form or is sufficient to effect the assignment of and transfer to the assignee
thereof under the mortgage to which the assignment relates. Countrywide (on
its own behalf and on behalf of Park Granada, Park Monaco and Park Sienna)
shall promptly correct or cure such defect within 90 days from the date it was
so notified of such defect and, if Countrywide does not correct or cure such
defect within such period, Countrywide (on its own behalf and on behalf of
Park Granada, Park Monaco and Park Sienna) shall either (a) substitute for the
related Mortgage Loan a Substitute Mortgage Loan, which substitution shall be
accomplished in the manner and subject to the conditions set forth in Section
2.03, or (b) purchase such Mortgage Loan from the Trustee within 90 days from
the date Countrywide (on its own behalf and on behalf of Park Granada, Park
Monaco and Park Sienna) was notified of such defect in writing at the Purchase
Price of such Mortgage Loan; provided, however, that in no event shall such
substitution or purchase occur more than 540 days from the Closing Date,
except that if the substitution or purchase of a Mortgage Loan pursuant to
this provision is required by reason of a delay in delivery of any documents
by the appropriate recording office, and there is a dispute between either the
Master Servicer or Countrywide (on its own behalf and on behalf of Park
Granada, Park Monaco and Park Sienna) and the Trustee over the location or
status of the recorded document, then such substitution or purchase shall
occur within 720 days from the Closing Date. The Trustee shall deliver written
notice to each Rating Agency within 270 days from the Closing Date indicating
each Mortgage Loan (a) that has not been returned by the appropriate recording
office or (b) as to which there is a dispute as to location or status of such
Mortgage Loan. Such notice shall be delivered every 90 days thereafter until
the related Mortgage Loan is returned to the Trustee. Any such substitution
pursuant to (a) above or purchase pursuant to (b) above shall not be effected
prior to the delivery to the Trustee of the Opinion of Counsel required by
Section 2.05, if any, and any substitution pursuant to (a) above shall not be
effected prior to the additional delivery to the Trustee of a Request for
Release substantially in the form of Exhibit N. No substitution is permitted
to be made in any calendar month after the Determination Date for such month.
The Purchase Price for any such Mortgage Loan shall be deposited by
Countrywide (on its own behalf and on behalf of Park Granada, Park Monaco and
Park Sienna) in the Certificate Account on or prior to the Distribution
Account Deposit Date for the Distribution Date in the month following the
month of repurchase and, upon receipt of such deposit and certification with
respect thereto in the form of Exhibit N hereto, the Trustee shall release the
related Mortgage File to Countrywide (on its own behalf and on behalf of Park
Granada, Park Monaco and Park Sienna) and shall execute and deliver at
Countrywide's (on its own behalf and on behalf of Park Granada, Park Monaco
and Park Sienna) request such instruments of transfer or assignment prepared
by Countrywide, in each case without recourse, as shall be necessary to vest
in Countrywide (on its own behalf and on behalf of Park Granada, Park Monaco
and Park Sienna), or its designee, the Trustee's interest in any Mortgage Loan
released pursuant hereto. If pursuant to the foregoing provisions Countrywide
(on its own behalf and on behalf of Park Granada, Park Monaco and Park Sienna)
repurchases a Mortgage Loan that is a MERS Mortgage Loan, the Master 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 Countrywide
(on its own behalf and on behalf of Park Granada, Park Monaco and Park Sienna)

                                       61
<PAGE>

or its designee and shall cause such Mortgage to be removed from registration
on the MERS(R) System in accordance with MERS' rules and regulations or (ii)
cause MERS to designate on the MERS(R) System Countrywide (on its own behalf
and on behalf of Park Granada, Park Monaco and Park Sienna) or its designee as
the beneficial holder of such Mortgage Loan.

      (b) Upon delivery of the Supplemental Mortgage Loans pursuant to a
Supplemental Transfer Agreement, the Trustee shall acknowledge receipt of the
documents identified in any Supplemental Certification in the form annexed
hereto as Exhibit F-2 and declare that it will hold such documents and the
other documents delivered to it constituting the Mortgage Files, and that it
will hold such other assets as are included in the Trust Fund, in trust for
the exclusive use and benefit of all present and future Certificateholders.
The Trustee acknowledges that it will maintain possession of the Mortgage
Notes in the State of California, unless otherwise permitted by the Rating
Agencies.

      The Trustee agrees to execute and deliver on the Supplemental Transfer
Date to the Depositor, the Master Servicer and Countrywide (on its own behalf
and on behalf of Park Granada, Park Monaco and Park Sienna) a Supplemental
Certification in the form annexed hereto as Exhibit F-2. Based on its review
and examination, and only as to the documents identified in such Supplemental
Certification, the Trustee shall acknowledge that such documents appear
regular on their face and relate to such Supplemental Mortgage Loan. The
Trustee shall be under no duty or obligation to inspect, review or examine
said documents, instruments, certificates or other papers to determine that
the same are genuine, enforceable or appropriate for the represented purpose
or that they have actually been recorded in the real estate records or that
they are other than what they purport to be on their face.

      On or about the twentieth (20th) day after the Supplemental Transfer
Date, the Trustee shall deliver to the Depositor, the Master Servicer and
Countrywide (on its own behalf and on behalf of Park Granada, Park Monaco and
Park Sienna) a Delay Delivery Certification with respect to the Supplemental
Mortgage Loans in the form annexed hereto as Exhibit G-2, with any applicable
exceptions noted thereon.

      Not later than 90 days after the final Supplemental Transfer Date, the
Trustee shall deliver to the Depositor, the Master Servicer and Countrywide
(on its own behalf and on behalf of Park Granada, Park Monaco and Park Sienna)
a Final Certification with respect to the Supplemental Mortgage Loans in the
form annexed hereto as Exhibit H-2, with any applicable exceptions noted
thereon.

      (c) If, in the course of such review of the Mortgage Files relating to
the Supplemental Mortgage Loans, the Trustee finds any document constituting a
part of a Mortgage File which does not meet the requirements of Section 2.01,
the Trustee shall list such as an exception in the Final Certification;
provided, however that the Trustee shall not make any determination as to
whether (i) any endorsement is sufficient to transfer all right, title and
interest of the party so endorsing, as noteholder or assignee thereof, in and
to that Mortgage Note or (ii) any assignment is in recordable form or is
sufficient to effect the assignment of and transfer to the assignee thereof
under the mortgage to which the assignment relates. Countrywide (on its own
behalf and on behalf of Park Granada, Park Monaco and Park Sienna) shall
promptly correct or cure such defect within 90 days from the date it was so
notified of such defect and, if Countrywide does not correct or cure such
defect within such period, Countrywide (on its own behalf and on behalf

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<PAGE>

of Park Granada, Park Monaco and Park Sienna) shall either (a) substitute for
the related Mortgage Loan a Substitute Mortgage Loan, which substitution shall
be accomplished in the manner and subject to the conditions set forth in
Section 2.03, or (b) purchase such Mortgage Loan from the Trustee within 90
days from the date Countrywide (on its own behalf and on behalf of Park
Granada, Park Monaco and Park Sienna) was notified of such defect in writing
at the Purchase Price of such Mortgage Loan; provided, however, that in no
event shall such substitution or purchase occur more than 540 days from the
Closing Date, except that if the substitution or purchase of a Mortgage Loan
pursuant to this provision is required by reason of a delay in delivery of any
documents by the appropriate recording office, and there is a dispute between
either the Master Servicer or Countrywide (on its own behalf and on behalf of
Park Granada, Park Monaco and Park Sienna) and the Trustee over the location
or status of the recorded document, then such substitution or purchase shall
occur within 720 days from the Closing Date. The Trustee shall deliver written
notice to each Rating Agency within 270 days from the Closing Date indicating
each Mortgage Loan (a) which has not been returned by the appropriate
recording office or (b) as to which there is a dispute as to location or
status of such Mortgage Loan. Such notice shall be delivered every 90 days
thereafter until the related Mortgage Loan is returned to the Trustee. Any
such substitution pursuant to (a) above or purchase pursuant to (b) above
shall not be effected prior to the delivery to the Trustee of the Opinion of
Counsel required by Section 2.05 hereof, if any, and any substitution pursuant
to (a) above shall not be effected prior to the additional delivery to the
Trustee of a Request for Release substantially in the form of Exhibit N. No
substitution is permitted to be made in any calendar month after the
Determination Date for such month. The Purchase Price for any such Mortgage
Loan shall be deposited by Countrywide (on its own behalf and on behalf of
Park Granada, Park Monaco and Park Sienna) in the Certificate Account on or
prior to the Distribution Account Deposit Date for the Distribution Date in
the month following the month of repurchase and, upon receipt of such deposit
and certification with respect thereto in the form of Exhibit N hereto, the
Trustee shall release the related Mortgage File to Countrywide (on its own
behalf and on behalf of Park Granada, Park Monaco and Park Sienna) and shall
execute and deliver at Countrywide's (on its own behalf and on behalf of Park
Granada, Park Monaco and Park Sienna) request such instruments of transfer or
assignment prepared by Countrywide, in each case without recourse, as shall be
necessary to vest in Countrywide (on its own behalf and on behalf of Park
Granada, Park Monaco and Park Sienna), or a designee, the Trustee's interest
in any Mortgage Loan released pursuant hereto. If pursuant to the foregoing
provisions Countrywide (on its own behalf and on behalf of Park Granada, Park
Monaco and Park Sienna) repurchases a Supplemental Mortgage Loan that is a
MERS Mortgage Loan, the Master 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 Countrywide (on its own behalf and on behalf of Park
Granada, Park Monaco and Park Sienna) and shall cause such Mortgage to be
removed from registration on the MERS(R) System in accordance with MERS' rules
and regulations or (ii) cause MERS to designate on the MERS(R) System
Countrywide (on its own behalf and on behalf of Park Granada, Park Monaco and
Park Sienna) or its designee as the beneficial holder of such Mortgage Loan.

      (d) The Trustee shall retain possession and custody of each Mortgage
File in accordance with and subject to the terms and conditions set forth in
this Agreement. The Master Servicer shall promptly deliver to the Trustee,
upon the execution or receipt thereof, the originals of such other documents
or instruments constituting the Mortgage File as come into the possession of
the Master Servicer from time to time.

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<PAGE>

      (e) It is understood and agreed that the respective obligations of each
Seller to substitute for or to purchase any Mortgage Loan sold to the
Depositor by it that does not meet the requirements of Section 2.01 above
shall constitute the sole remedy respecting such defect available to the
Trustee, the Depositor and any Certificateholder against that Seller.

      SECTION 2.03. Representations, Warranties and Covenants of the Sellers
and Master Servicer.

      (a) Countrywide hereby makes the representations and warranties set
forth in (i) Schedule II-A, Schedule II-B, Schedule II-C and Schedule II-D
hereto, and by this reference incorporated herein, to the Depositor, the
Master Servicer and the Trustee, as of the Closing Date, (ii) Schedule III-A
hereto, and by this reference incorporated herein, to the Depositor, the
Master Servicer and the Trustee, as of the Closing Date, or if so specified
therein, as of the Initial Cut-off Date with respect to all of the Initial
Mortgage Loans and as of the related Supplemental Cut-off Date with respect to
all of the Supplemental Mortgage Loans, and (iii) Schedule III-B hereto, and
by this reference incorporated herein, to the Depositor, the Master Servicer
and the Trustee, as of the Closing Date, or if so specified therein, as of the
Initial Cut-off Date with respect to the Initial Mortgage Loans that are
Countrywide Mortgage Loans and as of the related Supplemental Cut-off Date
with respect to the Supplemental Mortgage Loans that are Countrywide Mortgage
Loans. Park Granada hereby makes the representations and warranties set forth
in (i) Schedule II-B hereto, and by this reference incorporated herein, to the
Depositor, the Master Servicer and the Trustee, as of the Closing Date and
(ii) Schedule III-C hereto, and by this reference incorporated herein, to the
Depositor, the Master Servicer and the Trustee, as of the Closing Date, or if
so specified therein, as of the Initial Cut-off Date with respect to the
Initial Mortgage Loans that are Park Granada Mortgage Loans and as of the
related Supplemental Cut-off Date with respect to the Supplemental Mortgage
Loans that are Park Granada Mortgage Loans. Park Monaco hereby makes the
representations and warranties set forth in (i) Schedule II-C hereto, and by
this reference incorporated herein, to the Depositor, the Master Servicer and
the Trustee, as of the Closing Date and (ii) Schedule III-D hereto, and by
this reference incorporated herein, to the Depositor, the Master Servicer and
the Trustee, as of the Closing Date, or if so specified therein, as of the
Initial Cut-off Date with respect to the Initial Mortgage Loans that are Park
Monaco Mortgage Loans and as of the related Supplemental Cut-off Date with
respect to the Supplemental Mortgage Loans that are Park Monaco Mortgage
Loans. Park Sienna hereby makes the representations and warranties set forth
in (i) Schedule II-D hereto, and by this reference incorporated herein, to the
Depositor, the Master Servicer and the Trustee, as of the Closing Date and
(ii) Schedule III-E hereto, and by this reference incorporated herein, to the
Depositor, the Master Servicer and the Trustee, as of the Closing Date, or if
so specified therein, as of the Initial Cut-off Date with respect to the
Initial Mortgage Loans that are Park Sienna Mortgage Loans and as of the
related Supplemental Cut-off Date with respect to the Supplemental Mortgage
Loans that are Park Sienna Mortgage Loans.

      (b) The Master Servicer hereby makes the representations and warranties
set forth in Schedule IV hereto, and by this reference incorporated herein, to
the Depositor and the Trustee, as of the Closing Date.

      (c) Upon discovery by any of the parties hereto of a breach of a
representation or warranty with respect to a Mortgage Loan made pursuant to
Section 2.03(a) or a breach of a representation or warranty with respect to a
Supplemental Mortgage Loan under Section

                                       64
<PAGE>

2.01(e)(i) that materially and adversely affects the interests of the
Certificateholders in that Mortgage Loan, the party discovering such breach
shall give prompt notice thereof to the other parties. Each Seller hereby
covenants that within 90 days of the earlier of its discovery or its receipt
of written notice from any party of a breach of any representation or warranty
with respect to a Mortgage Loan sold by it pursuant to Section 2.03(a) and
with respect to a breach of a representation and warranty with respect to a
Supplemental Mortgage Loan sold by it under Section 2.01(e)(i) which
materially and adversely affects the interests of the Certificateholders in
that Mortgage Loan, it shall cure such breach in all material respects, and if
such breach is not so cured, shall, (i) if such 90-day period expires prior to
the second anniversary of the Closing Date, remove such Mortgage Loan (a
"Deleted Mortgage Loan") from the Trust Fund and substitute in its place a
Substitute Mortgage Loan, in the manner and subject to the conditions set
forth in this Section; or (ii) repurchase the affected Mortgage Loan or
Mortgage Loans from the Trustee at the Purchase Price in the manner set forth
below; provided, however, that any such substitution pursuant to (i) above
shall not be effected prior to the delivery to the Trustee of the Opinion of
Counsel required by Section 2.05 hereof, if any, and any such substitution
pursuant to (i) above shall not be effected prior to the additional delivery
to the Trustee of a Request for Release substantially in the form of Exhibit N
and the Mortgage File for any such Substitute Mortgage Loan. The Seller
repurchasing a Mortgage Loan pursuant to this Section 2.03(c) shall promptly
reimburse the Master Servicer and the Trustee for any expenses reasonably
incurred by the Master Servicer or the Trustee in respect of enforcing the
remedies for such breach. With respect to the representations and warranties
described in this Section which are made to the best of a Seller's knowledge,
if it is discovered by either the Depositor, a Seller or the Trustee that the
substance of such representation and warranty is inaccurate and such
inaccuracy materially and adversely affects the value of the related Mortgage
Loan or the interests of the Certificateholders therein, notwithstanding that
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.

      With respect to any Substitute Mortgage Loan or Loans sold to the
Depositor by a Seller, Countrywide (on its own behalf and on behalf of Park
Granada, Park Monaco and Park Sienna) shall deliver to the Trustee for the
benefit of the Certificateholders the Mortgage Note, the Mortgage, the related
assignment of the Mortgage, and such other documents and agreements as are
required by Section 2.01, with the Mortgage Note endorsed and the Mortgage
assigned as required by Section 2.01. No substitution is permitted to be made
in any calendar month after the Determination Date for such month. Scheduled
Payments due with respect to Substitute Mortgage Loans in the month of
substitution shall not be part of the Trust Fund and will be retained by the
related Seller on the next succeeding Distribution Date. For the month of
substitution, distributions to Certificateholders will include the monthly
payment due on any Deleted Mortgage Loan for such month and thereafter that
Seller shall be entitled to retain all amounts received in respect of such
Deleted Mortgage Loan. The Master Servicer shall amend the Mortgage Loan
Schedule for the benefit of the Certificateholders to reflect the removal of
such Deleted Mortgage Loan and the substitution of the Substitute Mortgage
Loan or Loans and the Master Servicer shall deliver the amended Mortgage Loan
Schedule to the Trustee. Upon such substitution, the Substitute Mortgage Loan
or Loans shall be subject to the terms of this Agreement in all respects, and
the related Seller shall be deemed to have made with respect to such
Substitute Mortgage Loan or Loans, as of the date of substitution, the
representations and warranties made pursuant to Section 2.03(a) with respect
to such Mortgage Loan. Upon any

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<PAGE>

such substitution and the deposit to the Certificate Account of the amount
required to be deposited therein in connection with such substitution as
described in the following paragraph, the Trustee shall release the Mortgage
File held for the benefit of the Certificateholders relating to such Deleted
Mortgage Loan to the related Seller and shall execute and deliver at such
Seller's direction such instruments of transfer or assignment prepared by
Countrywide (on its own behalf and on behalf of Park Granada, Park Monaco and
Park Sienna), in each case without recourse, as shall be necessary to vest
title in that Seller, or its designee, the Trustee's interest in any Deleted
Mortgage Loan substituted for pursuant to this Section 2.03.

      For any month in which a Seller substitutes one or more Substitute
Mortgage Loans for one or more Deleted Mortgage Loans, the Master Servicer
will determine the amount (if any) by which the aggregate Stated Principal
Balance of all Substitute Mortgage Loans sold to the Depositor by that Seller
as of the date of substitution is less than the aggregate Stated Principal
Balance of all Deleted Mortgage Loans repurchased by that Seller (after
application of the scheduled principal portion of the monthly payments due in
the month of substitution). The amount of such shortage (the "Substitution
Adjustment Amount") plus an amount equal to the aggregate of any unreimbursed
Advances with respect to such Deleted Mortgage Loans shall be deposited in the
Certificate Account by Countrywide (on its own behalf and on behalf of Park
Granada, Park Monaco and Park Sienna) on or before the Distribution Account
Deposit Date for the Distribution Date in the month succeeding the calendar
month during which the related Mortgage Loan became required to be purchased
or replaced hereunder.

      In the event that a Seller shall have repurchased a Mortgage Loan, the
Purchase Price therefor shall be deposited in the Certificate Account pursuant
to Section 3.05 on or before the Distribution Account Deposit Date for the
Distribution Date in the month following the month during which that Seller
became obligated hereunder to repurchase or replace such Mortgage Loan and
upon such deposit of the Purchase Price, the delivery of the Opinion of
Counsel required by Section 2.05 and receipt of a Request for Release in the
form of Exhibit N hereto, the Trustee shall release the related Mortgage File
held for the benefit of the Certificateholders to such Person, and the Trustee
shall execute and deliver at such Person's direction such instruments of
transfer or assignment prepared by such Person, in each case without recourse,
as shall be necessary to transfer title from the Trustee. It is understood and
agreed that the obligation under this Agreement of any Person to cure,
repurchase or replace any Mortgage Loan as to which a breach has occurred and
is continuing shall constitute the sole remedy against such Persons respecting
such breach available to Certificateholders, the Depositor or the Trustee on
their behalf.

      The representations and warranties made pursuant to this Section 2.03
shall survive delivery of the respective Mortgage Files to the Trustee for the
benefit of the Certificateholders.

      SECTION 2.04. Representations and Warranties of the Depositor as to the
Mortgage Loans.

      The Depositor hereby represents and warrants to the Trustee with respect
to each Mortgage Loan as of the date of this Agreement or such other date set
forth in this Agreement that as of the Closing Date, and following the
transfer of the Mortgage Loans to it by each Seller, the Depositor had good
title to the Mortgage Loans and the Mortgage Notes were subject to no offsets,
defenses or counterclaims.

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<PAGE>

      The Depositor hereby assigns, transfers and conveys to the Trustee all
of its rights with respect to the Mortgage Loans including, without
limitation, the representations and warranties of each Seller made pursuant to
Section 2.03(a) hereof, together with all rights of the Depositor to require a
Seller to cure any breach thereof or to repurchase or substitute for any
affected Mortgage Loan in accordance with this Agreement.

      It is understood and agreed that the representations and warranties set
forth in this Section 2.04 shall survive delivery of the Mortgage Files to the
Trustee. Upon discovery by the Depositor or the Trustee of a breach of any of
the foregoing representations and warranties set forth in this Section 2.04
(referred to herein as a "breach"), which breach materially and adversely
affects the interest of the Certificateholders, the party discovering such
breach shall give prompt written notice to the others and to each Rating
Agency.

      SECTION 2.05. Delivery of Opinion of Counsel in Connection with
Substitutions.

      (a) Notwithstanding any contrary provision of this Agreement, no
substitution pursuant to Section 2.02 or Section 2.03 shall be made more than
90 days after the Closing Date unless Countrywide delivers to the Trustee an
Opinion of Counsel, which Opinion of Counsel shall not be at the expense of
either the Trustee or the Trust Fund, addressed to the Trustee, to the effect
that such substitution will not (i) result in the imposition of the tax on
"prohibited transactions" on the Trust Fund or contributions after the Startup
Date, as defined in sections 860F(a)(2) and 860G(d) of the Code, respectively,
or (ii) cause any REMIC created under this Agreement to fail to qualify as a
REMIC at any time that any Certificates are outstanding.

      (b) Upon discovery by the Depositor, a Seller, the Master Servicer, or
the Trustee that any Mortgage Loan does not constitute a "qualified mortgage"
within the meaning of section 860G(a)(3) of the Code, the party discovering
such fact shall promptly (and in any event within five (5) Business Days of
discovery) give written notice thereof to the other parties. In connection
therewith, the Trustee shall require Countrywide (on its own behalf and on
behalf of Park Granada, Park Monaco and Park Sienna) at its option, to either
(i) substitute, if the conditions in Section 2.03(c) with respect to
substitutions are satisfied, a Substitute Mortgage Loan for the affected
Mortgage Loan, or (ii) repurchase the affected Mortgage Loan within 90 days of
such discovery in the same manner as it would a Mortgage Loan for a breach of
representation or warranty made pursuant to Section 2.03. The Trustee shall
reconvey to Countrywide the Mortgage Loan to be released pursuant to this
Section in the same manner, and on the same terms and conditions, as it would
a Mortgage Loan repurchased for breach of a representation or warranty
contained in Section 2.03.

      SECTION 2.06. Execution and Delivery of Certificates.

      The Trustee acknowledges the transfer and assignment to it of the Trust
Fund and, concurrently with such transfer and assignment, has executed and
delivered to or upon the order of the Depositor, the Certificates in
authorized denominations evidencing directly or indirectly the entire
ownership of the Trust Fund. The Trustee agrees to hold the Trust Fund and
exercise the rights referred to above for the benefit of all present and
future Holders of the Certificates and to perform the duties set forth in this
Agreement.

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<PAGE>

      SECTION 2.07. REMIC Matters.

      The Preliminary Statement sets forth the designations and "latest
possible maturity date" for federal income tax purposes of all interests
created hereby. The "Startup Day" for purposes of the REMIC Provisions shall
be the Closing Date. The "tax matters person" with respect to each REMIC
hereunder shall be the Trustee and the Trustee shall hold the Tax Matters
Person Certificate. Each REMIC's fiscal year shall be the calendar year.

      SECTION 2.08. Covenants of the Master Servicer.

      The Master Servicer covenants to the Depositor and the Trustee as
follows:

      (a) the Master Servicer shall comply in the performance of its
obligations under this Agreement with all reasonable rules and requirements of
the insurer under each Required Insurance Policy; and

      (b) no written information, certificate of an officer, statement
furnished in writing or written report delivered to the Depositor, any
affiliate of the Depositor or the Trustee and prepared by the Master Servicer
pursuant to this Agreement will contain any untrue statement of a material
fact or omit to state a material fact necessary to make such information,
certificate, statement or report not misleading.

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<PAGE>

                                   ARTICLE III
                          ADMINISTRATION AND SERVICING
                                OF MORTGAGE LOANS

      SECTION 3.01. Master Servicer to Service Mortgage Loans.

      For and on behalf of the Certificateholders, the Master Servicer shall
service and administer the Mortgage Loans in accordance with the terms of this
Agreement and customary and usual standards of practice of prudent mortgage
loan servicers. In connection with such servicing and administration, the
Master Servicer shall have full power and authority, acting alone and/or
through Subservicers as provided in Section 3.02, subject to the terms of this
Agreement (i) to execute and deliver, on behalf of the Certificateholders and
the Trustee, customary consents or waivers and other instruments and
documents, (ii) to consent to transfers of any Mortgaged Property and
assumptions of the Mortgage Notes and related Mortgages (but only in the
manner provided in this Agreement), (iii) to collect any Insurance Proceeds
and other Liquidation Proceeds (which for the purpose of this Section 3.01
includes any Subsequent Recoveries), and (iv) to effectuate foreclosure or
other conversion of the ownership of the Mortgaged Property securing any
Mortgage Loan; provided that the Master Servicer shall not take any action
that is inconsistent with or prejudices the interests of the Trust Fund or the
Certificateholders in any Mortgage Loan or the rights and interests of the
Depositor, the Trustee and the Certificateholders under this Agreement. The
Master Servicer shall represent and protect the interests of the Trust Fund in
the same manner as it protects its own interests in mortgage loans in its own
portfolio in any claim, proceeding or litigation regarding a Mortgage Loan,
and shall not make or permit any modification, waiver or amendment of any
Mortgage Loan which would cause any REMIC created under this Agreement to fail
to qualify as a REMIC or result in the imposition of any tax under section
860F(a) or section 860G(d) of the Code. Without limiting the generality of the
foregoing, the Master Servicer, in its own name or in the name of the
Depositor and the Trustee, is hereby authorized and empowered by the Depositor
and the Trustee, when the Master Servicer believes it appropriate in its
reasonable judgment, to execute and deliver, on behalf of the Trustee, the
Depositor, the Certificateholders or any of them, any and all instruments of
satisfaction or cancellation, or of partial or full release or discharge and
all other comparable instruments, with respect to the Mortgage Loans, and with
respect to the Mortgaged Properties held for the benefit of the
Certificateholders. The Master Servicer shall prepare and deliver to the
Depositor and/or the Trustee such documents requiring execution and delivery
by either or both of them as are necessary or appropriate to enable the Master
Servicer to service and administer the Mortgage Loans to the extent that the
Master Servicer is not permitted to execute and deliver such documents
pursuant to the preceding sentence. Upon receipt of such documents, the
Depositor and/or the Trustee shall execute such documents and deliver them to
the Master Servicer. The Master Servicer further is authorized and empowered
by the Trustee, on behalf of the Certificateholders and the Trustee, in its
own name or in the name of the Subservicer, when the Master Servicer or the
Subservicer, as the case may be, believes it appropriate in its best judgment
to register any Mortgage Loan on the MERS(R) System, or cause the removal from
the registration of any Mortgage Loan on the MERS(R) System, to execute and
deliver, on behalf of the Trustee and the Certificateholders or any of them,
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 Trustee and its successors and assigns.

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<PAGE>

      In accordance with the standards of the preceding paragraph, the Master
Servicer shall advance or cause to be advanced funds as necessary for the
purpose of effecting the payment of taxes and assessments on the Mortgaged
Properties, which advances shall be reimbursable in the first instance from
related collections from the Mortgagors pursuant to Section 3.06, and further
as provided in Section 3.08. The costs incurred by the Master Servicer, if
any, in effecting the timely payments of taxes and assessments on the
Mortgaged Properties and related insurance premiums shall not, for the purpose
of calculating monthly distributions to the Certificateholders, be added to
the Stated Principal Balances of the related Mortgage Loans, notwithstanding
that the terms of such Mortgage Loans so permit.

      SECTION 3.02. Subservicing; Enforcement of the Obligations of
Subservicers.

      (a) The Master Servicer may arrange for the subservicing of any Mortgage
Loan by a Subservicer pursuant to a subservicing agreement; provided, however,
that such subservicing arrangement and the terms of the related subservicing
agreement must provide for the servicing of such Mortgage Loans in a manner
consistent with the servicing arrangements contemplated under this Agreement.
Unless the context otherwise requires, references in this Agreement to actions
taken or to be taken by the Master Servicer in servicing the Mortgage Loans
include actions taken or to be taken by a Subservicer on behalf of the Master
Servicer. Notwithstanding the provisions of any subservicing agreement, any of
the provisions of this Agreement relating to agreements or arrangements
between the Master Servicer and a Subservicer or reference to actions taken
through a Subservicer or otherwise, the Master Servicer shall remain obligated
and liable to the Depositor, the Trustee and the Certificateholders for the
servicing and administration of the Mortgage Loans in accordance with the
provisions of this Agreement without diminution of such obligation or
liability by virtue of such subservicing agreements or arrangements or by
virtue of indemnification from the Subservicer and to the same extent and
under the same terms and conditions as if the Master Servicer alone were
servicing and administering the Mortgage Loans. All actions of each
Subservicer performed pursuant to the related subservicing agreement shall be
performed as an agent of the Master Servicer with the same force and effect as
if performed directly by the Master Servicer.

      (b) For purposes of this Agreement, the Master Servicer shall be deemed
to have received any collections, recoveries or payments with respect to the
Mortgage Loans that are received by a Subservicer regardless of whether such
payments are remitted by the Subservicer to the Master Servicer.

      SECTION 3.03. Rights of the Depositor and the Trustee in Respect of the
Master Servicer.

      The Depositor may, but is not obligated to, enforce the obligations of
the Master Servicer under this Agreement and may, but is not obligated to,
perform, or cause a designee to perform, any defaulted obligation of the
Master Servicer under this Agreement and in connection with any such defaulted
obligation to exercise the related rights of the Master Servicer under this
Agreement; provided that the Master Servicer shall not be relieved of any of
its obligations under this Agreement by virtue of such performance by the
Depositor or its designee. Neither the Trustee nor the Depositor shall have
any responsibility or liability for any action or failure to act by the Master
Servicer nor shall the Trustee or the Depositor be obligated to supervise the
performance of the Master Servicer under this Agreement or otherwise.

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<PAGE>

      SECTION 3.04. Trustee to Act as Master Servicer.

      In the event that the Master Servicer shall for any reason no longer be
the Master Servicer under this Agreement (including by reason of an Event of
Default or termination by the Depositor), the Trustee or its successor shall
then assume all of the rights and obligations of the Master Servicer under
this Agreement arising thereafter (except that the Trustee shall not be (i)
liable for losses of the Master Servicer pursuant to Section 3.09 or any acts
or omissions of the predecessor Master Servicer under this Agreement), (ii)
obligated to make Advances if it is prohibited from doing so by applicable
law, (iii) obligated to effectuate repurchases or substitutions of Mortgage
Loans under this Agreement including, but not limited to, repurchases or
substitutions of Mortgage Loans pursuant to Section 2.02 or 2.03, (iv)
responsible for expenses of the Master Servicer pursuant to Section 2.03 or
(v) deemed to have made any representations and warranties of the Master
Servicer under this Agreement). Any such assumption shall be subject to
Section 7.02. If the Master Servicer shall for any reason no longer be the
Master Servicer (including by reason of any Event of Default or termination by
the Depositor), the Trustee or its successor shall succeed to any rights and
obligations of the Master Servicer under each subservicing agreement.

      The Master Servicer shall, upon request of the Trustee, but at the
expense of the Master Servicer, deliver to the assuming party all documents
and records relating to each subservicing agreement or substitute subservicing
agreement and the Mortgage Loans then being serviced thereunder and an
accounting of amounts collected or held by it and otherwise use its best
efforts to effect the orderly and efficient transfer of the substitute
subservicing agreement to the assuming party.

      SECTION 3.05. Collection of Mortgage Loan Payments; Certificate Account;
Distribution Account; Pre-Funding Account; Capitalized Interest Account;
Carryover Shortfall Reserve Fund.

      (a) The Master Servicer shall make reasonable efforts in accordance with
the customary and usual standards of practice of prudent mortgage servicers to
collect all payments called for under the terms and provisions of the Mortgage
Loans to the extent such procedures shall be consistent with this Agreement
and the terms and provisions of any related Required Insurance Policy.
Consistent with the foregoing, the Master Servicer may in its discretion (i)
waive any late payment charge or, subject to Section 3.20, any Prepayment
Charge or penalty interest in connection with the prepayment of a Mortgage
Loan and (ii) extend the due dates for payments due on a Mortgage Note for a
period not greater than 180 days; provided, however, that the Master Servicer
cannot extend the maturity of any such Mortgage Loan past the date on which
the final payment is due on the latest maturing Mortgage Loan as of the
Cut-off Date. In the event of any such arrangement, the Master Servicer shall
make Advances on the related Mortgage Loan in accordance with the provisions
of Section 4.01 during the scheduled period in accordance with the
amortization schedule of such Mortgage Loan without modification thereof by
reason of such arrangements. The Master Servicer shall not be required to
institute or join in litigation with respect to collection of any payment
(whether under a Mortgage, Mortgage Note or otherwise or against any public or
governmental authority with respect to a taking or condemnation) if it
reasonably believes that enforcing the provision of the Mortgage or other
instrument pursuant to which such payment is required is prohibited by
applicable law.

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      (b) The Master Servicer shall establish and maintain a Certificate
Account into which the Master Servicer shall deposit or cause to be deposited
no later than two Business Days after receipt (or, if the current long-term
credit rating of Countrywide is reduced below "A-" by S&P or Fitch or "A3" by
Moody's, the Master Servicer shall deposit or cause to be deposited on a daily
basis within one Business Day of receipt), except as otherwise specifically
provided in this Agreement, the following payments and collections remitted by
Subservicers or received by it in respect of Mortgage Loans subsequent to the
Cut-off Date (other than in respect of principal and interest due on the
Mortgage Loans on or before the Cut-off Date) and the following amounts
required to be deposited under this Agreement:

            (i) all payments on account of principal on the Mortgage Loans,
      including Principal Prepayments;

            (ii) all payments on account of interest on the Mortgage Loans,
      net of the related Master Servicing Fee and any lender paid mortgage
      insurance premiums;

            (iii) all Insurance Proceeds, Subsequent Recoveries and
      Liquidation Proceeds, other than proceeds to be applied to the
      restoration or repair of a Mortgaged Property or released to the
      Mortgagor in accordance with the Master Servicer's normal servicing
      procedures;

            (iv) any amount required to be deposited by the Master Servicer
      pursuant to Section 3.05(e) in connection with any losses on Permitted
      Investments;

            (v) any amounts required to be deposited by the Master Servicer
      pursuant to Section 3.09(c) and in respect of net monthly income from
      REO Property pursuant to Section 3.11;

            (vi) all Substitution Adjustment Amounts;

            (vii) all Advances made by the Master Servicer pursuant to Section
      4.01;

            (viii) all Prepayment Charges and Master Servicer Prepayment
      Charge Amounts; and

            (ix) any other amounts required to be deposited under this
      Agreement.

      In addition, with respect to any Mortgage Loan that is subject to a
buydown agreement, on each Due Date for such Mortgage Loan, in addition to the
monthly payment remitted by the Mortgagor, the Master Servicer shall cause
funds to be deposited into the Certificate Account in an amount required to
cause an amount of interest to be paid with respect to such Mortgage Loan
equal to the amount of interest that has accrued on such Mortgage Loan from
the preceding Due Date at the Mortgage Rate net of the related Master
Servicing Fee.

      The foregoing requirements for remittance by the Master Servicer shall
be exclusive, it being understood and agreed that, without limiting the
generality of the foregoing, payments in the nature late payment charges or
assumption fees, if collected, need not be remitted by the Master Servicer. In
the event that the Master Servicer shall remit any amount not required to be
remitted, it may at any time withdraw or direct the institution maintaining
the Certificate

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Account to withdraw such amount from the Certificate Account, any provision in
this Agreement to the contrary notwithstanding. Such withdrawal or direction
may be accomplished by delivering written notice thereof to the Trustee or
such other institution maintaining the Certificate Account which describes the
amounts deposited in error in the Certificate Account. The Master Servicer
shall maintain adequate records with respect to all withdrawals made pursuant
to this Section. All funds deposited in the Certificate Account shall be held
in trust for the Certificateholders until withdrawn in accordance with Section
3.08.

      (c) [Reserved].

      (d) The Trustee shall establish and maintain, on behalf of the
Certificateholders, the Distribution Account. The Trustee shall, promptly upon
receipt, deposit in the Distribution Account and retain in the Distribution
Account the following:

            (i) the aggregate amount remitted by the Master Servicer to the
      Trustee pursuant to Section 3.08(a)(ix);

            (ii) any amount deposited by the Master Servicer pursuant to
      Section 3.05(e) in connection with any losses on Permitted Investments;
      and

            (iii) any other amounts deposited hereunder which are required to
      be deposited in the Distribution Account.

      In the event that the Master Servicer shall remit any amount not
required to be remitted, it may at any time direct the Trustee to withdraw
such amount from the Distribution Account, any provision in this Agreement to
the contrary notwithstanding. Such direction may be accomplished by delivering
an Officer's Certificate to the Trustee which describes the amounts deposited
in error in the Distribution Account. All funds deposited in the Distribution
Account shall be held by the Trustee in trust for the Certificateholders until
disbursed in accordance with this Agreement or withdrawn in accordance with
Section 3.08. In no event shall the Trustee incur liability for withdrawals
from the Distribution Account at the direction of the Master Servicer.

      (e) Each institution at which the Certificate Account, the Pre-Funding
Account, the Capitalized Interest Account or the Distribution Account is
maintained shall invest the funds therein as directed in writing by the Master
Servicer in Permitted Investments, which shall mature not later than (i) in
the case of the Certificate Account, the Pre-Funding Account or the
Capitalized Interest Account the second Business Day next preceding the
related Distribution Account Deposit Date (except that if such Permitted
Investment is an obligation of the institution that maintains such account,
then such Permitted Investment shall mature not later than the Business Day
next preceding such Distribution Account Deposit Date) and (ii) in the case of
the Distribution Account, the Business Day next preceding the Distribution
Date (except that if such Permitted Investment is an obligation of the
institution that maintains such fund or account, then such Permitted
Investment shall mature not later than such Distribution Date) and, in each
case, shall not be sold or disposed of prior to its maturity. All such
Permitted Investments shall be made in the name of the Trustee, for the
benefit of the Certificateholders. All income and gain net of any losses
realized from any such investment of funds on deposit in the Certificate
Account and the Distribution Account shall be for the benefit of the Master
Servicer as servicing

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compensation and shall be remitted to it monthly as provided in this
Agreement. The amount of any realized losses in the Certificate Account or the
Distribution Account incurred in any such account in respect of any such
investments shall promptly be deposited by the Master Servicer in the
Certificate Account or paid to the Trustee for deposit into the Distribution
Account, as applicable. The amount of any losses in the Pre-Funding Account or
the Capitalized Interest Account incurred in respect of any such investments
shall promptly be deposited by the Depositor in the Pre-Funding Account or the
Capitalized Interest Account, as applicable. All income or gain (net of any
losses) realized from any such investment of funds on deposit in the
Capitalized Interest Account shall be credited to the Capitalized Interest
Account. The Trustee in its fiduciary capacity shall not be liable for the
amount of any loss incurred in respect of any investment or lack of investment
of funds held in the Certificate Account, the Pre-Funding Account, the
Capitalized Interest Account or the Distribution Account and made in
accordance with this Section 3.05.

      (f) The Master Servicer shall give notice to the Trustee, each Seller,
each Rating Agency and the Depositor of any proposed change of the location of
the Certificate Account prior to any change thereof. The Trustee shall give
notice to the Master Servicer, each Seller, each Rating Agency and the
Depositor of any proposed change of the location of the Distribution Account,
the Capitalized Interest Account or the Pre-Funding Account prior to any
change thereof.

      (g) If applicable, the Trustee shall establish and maintain, on behalf
of the Certificateholders, the Pre-Funding Account. On the Closing Date
Countrywide shall remit the Pre-Funded Amount to the Trustee for deposit in
the Pre-Funding Account. On each Supplemental Transfer Date, upon satisfaction
of the conditions for such Supplemental Transfer Date set forth in Section
2.01(e), with respect to the related Supplemental Transfer Agreement, the
Trustee shall pay to each Seller selling Supplemental Mortgage Loans to the
Depositor on such Supplemental Transfer Date the portion of the Aggregate
Supplemental Transfer Amount held in escrow pursuant to Section 2.01(e) as
payment of the purchase price for the Supplemental Mortgage Loans sold by such
Seller. If at any time the Depositor becomes aware that the Cut-off Date
Stated Principal Balance of Supplemental Mortgage Loans reflected on any
Supplemental Transfer Agreement exceeds the actual Cut-off Date Stated
Principal Balance of the relevant Supplemental Mortgage Loans, the Depositor
may so notify the Trustee and the Trustee shall redeposit into the Pre-Funding
Account the excess reported to it by the Depositor.

      If any funds remain in the Pre-Funding Account at the end of the Funding
Period, to the extent that they represent earnings on the amounts originally
deposited into the Pre-Funding Account, the Trustee shall distribute them to
the order of the Depositor.

      (h) If applicable, the Trustee shall establish and maintain, on behalf
of the Certificateholders, the Capitalized Interest Account. On the Closing
Date, Countrywide shall remit the aggregate Capitalized Interest Requirement
to the Trustee for deposit in the Capitalized Interest Account. On each
Distribution Account Deposit Date related to a Funding Period Distribution
Date, upon satisfaction of the conditions for such Supplemental Transfer Date
set forth in Section 2.01(e), with respect to the related Supplemental
Transfer Agreement, the Trustee shall transfer from the Capitalized Interest
Account to the Distribution Account an amount equal to the Capitalized
Interest Requirement (which, to the extent required, may include investment
earnings on amounts on deposit therein) with respect to the amount remaining
in the

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Pre-Funding Account for the related Distribution Date as identified by
Countrywide in the Supplemental Transfer Agreement.

      (i) If any funds remain in the Capitalized Interest Account at the end
of the Funding Period, the Trustee shall make the transfer described in the
preceding paragraph if necessary for the remaining Funding Period Distribution
Date and the Trustee shall distribute any remaining funds in the Capitalized
Interest Account to the order of the Depositor.

      On each Distribution Date, the Trustee shall deposit into the Carryover
Shortfall Reserve Fund all amounts otherwise distributable to the Class X-P
IO-1 and Class X-P IO-2 Components on such Distribution Date.

      The Trustee shall make withdrawals from the Carryover Shortfall Reserve
Fund to make distributions pursuant to Section 4.02(a)(4). Upon the earlier of
(i) the retirement of the LIBOR Certificates and (ii) the termination of the
Trust Fund in accordance with Section 9.01, the Trustee shall distribute to
the Depositor all monies remaining on deposit in the Carryover Shortfall
Reserve Fund after making the distributions specified in Section 4.02(a)(4).

      (j) The Trustee shall establish and maintain, on behalf of the Class X-P
Certificateholders, a Principal Reserve Fund in the name of the Trustee. On
the Closing Date, the Depositor shall deposit into the Principal Reserve Fund
$100. Funds on deposit in the Principal Reserve Fund shall not be invested.

      SECTION 3.06. Collection of Taxes, Assessments and Similar Items; Escrow
Accounts.

      (a) To the extent required by the related Mortgage Note and not
violative of current law, the Master Servicer shall establish and maintain one
or more accounts (each, an "Escrow Account") and deposit and retain therein
all collections from the Mortgagors (or advances by the Master Servicer) for
the payment of taxes, assessments, hazard insurance premiums or comparable
items for the account of the Mortgagors. Nothing in this Agreement shall
require the Master Servicer to compel a Mortgagor to establish an Escrow
Account in violation of applicable law.

      (b) Withdrawals of amounts so collected from the Escrow Accounts may be
made only to effect timely payment of taxes, assessments, hazard insurance
premiums, condominium or PUD association dues, or comparable items, to
reimburse the Master Servicer out of related collections for any payments made
pursuant to Sections 3.01 (with respect to taxes and assessments and insurance
premiums) and 3.09 (with respect to hazard insurance), to refund to any
Mortgagors any sums determined to be overages, to pay interest, if required by
law or the terms of the related Mortgage or Mortgage Note, to Mortgagors on
balances in the Escrow Account or to clear and terminate the Escrow Account at
the termination of this Agreement in accordance with Section 9.01. The Escrow
Accounts shall not be a part of the Trust Fund.

      (c) The Master Servicer shall advance any payments referred to in
Section 3.06(a) that are not timely paid by the Mortgagors on the date when
the tax, premium or other cost for which such payment is intended is due, but
the Master Servicer shall be required so to advance only to the extent that
such advances, in the good faith judgment of the Master Servicer, will be

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recoverable by the Master Servicer out of Insurance Proceeds, Liquidation
Proceeds or otherwise.

      SECTION 3.07. Access to Certain Documentation and Information Regarding
the Mortgage Loans.

      The Master Servicer shall afford each Seller, the Depositor and the
Trustee reasonable access to all records and documentation regarding the
Mortgage Loans and all accounts, insurance information and other matters
relating to this Agreement, such access being afforded without charge, but
only upon reasonable request and during normal business hours at the office
designated by the Master Servicer.

      Upon reasonable advance notice in writing, the Master Servicer will
provide to each Certificateholder and/or Certificate Owner that is a savings
and loan association, bank or insurance company certain reports and reasonable
access to information and documentation regarding the Mortgage Loans
sufficient to permit such Certificateholder and/or Certificate Owner to comply
with applicable regulations of the OTS or other regulatory authorities with
respect to investment in the Certificates; provided that the Master Servicer
shall be entitled to be reimbursed by each such Certificateholder and/or
Certificate Owner for actual expenses incurred by the Master Servicer in
providing such reports and access.

      SECTION 3.08. Permitted Withdrawals from the Certificate Account; the
Distribution Account and the Carryover Shortfall Reserve Fund.

      (a) The Master Servicer may from time to time make withdrawals from the
Certificate Account for the following purposes:

            (i) to pay to the Master Servicer (to the extent not previously
      retained by the Master Servicer) the servicing compensation to which it
      is entitled pursuant to Section 3.14 and to pay to the Master Servicer,
      as additional servicing compensation, earnings on or investment income
      with respect to funds in or credited to the Certificate Account;

            (ii) to reimburse each of the Master Servicer and the Trustee for
      unreimbursed Advances made by it, such right of reimbursement pursuant
      to this subclause (ii) being limited to amounts received on the Mortgage
      Loan(s) in respect of which any such Advance was made;

            (iii) to reimburse each of the Master Servicer and the Trustee for
      any Nonrecoverable Advance previously made by it;

            (iv) to reimburse the Master Servicer for Insured Expenses from
      the related Insurance Proceeds;

            (v) to reimburse the Master Servicer for (a) unreimbursed
      Servicing Advances, the Master Servicer's right to reimbursement
      pursuant to this clause (a) with respect to any Mortgage Loan being
      limited to amounts received on such Mortgage Loan(s) that represent late
      recoveries of the payments for which such advances were

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<PAGE>

      made pursuant to Section 3.01 or Section 3.06 and (b) for unpaid Master
      Servicing Fees as provided in Section 3.11;

            (vi) to pay to the purchaser, with respect to each Mortgage Loan
      or property acquired in respect thereof that has been purchased pursuant
      to Section 2.02, 2.03 or 3.11, all amounts received on such Mortgage
      Loan after the date of such purchase;

            (vii) to reimburse the Sellers, the Master Servicer or the
      Depositor for expenses incurred by any of them and reimbursable pursuant
      to Section 6.03;

            (viii) to withdraw any amount deposited in the Certificate Account
      and not required to be deposited in the Certificate Account;

            (ix) on or prior to the Distribution Account Deposit Date, to
      withdraw an amount equal to the related Available Funds, the Prepayment
      Charges, the Master Servicer Prepayment Charge Amount, and the Trustee
      Fee for such Distribution Date and remit such amount to the Trustee for
      deposit in the Distribution Account; and

            (x) to clear and terminate the Certificate Account upon
      termination of this Agreement pursuant to Section 9.01.

      The Master Servicer shall keep and maintain separate accounting, on a
Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any
withdrawal from the Certificate Account pursuant to such subclauses (i), (ii),
(iv), (v) and (vi). Prior to making any withdrawal from the Certificate
Account pursuant to subclause (iii), the Master Servicer shall deliver to the
Trustee an Officer's Certificate of a Servicing Officer indicating the amount
of any previous Advance determined by the Master Servicer to be a
Nonrecoverable Advance and identifying the related Mortgage Loans(s), and
their respective portions of such Nonrecoverable Advance.

      (b) The Trustee shall withdraw funds from the Distribution Account for
distributions to Certificateholders and remittance to the Swap Account in the
manner specified in this Agreement (and to withhold from the amounts so
withdrawn, the amount of any taxes that it is authorized to withhold pursuant
to the third paragraph of Section 8.11). In addition, the Trustee may from
time to time make withdrawals from the Distribution Account for the following
purposes:

            (i) to pay to itself the Trustee Fee for the related Distribution
      Date;

            (ii) to pay to the Master Servicer as additional servicing
      compensation, earnings on or the investment income with respect to funds
      in the Distribution Account;

            (iii) to withdraw and return to the Master Servicer any amount
      deposited in the Distribution Account and not required to be deposited
      therein;

            (iv) to reimburse the Trustee for any unreimbursed Advances made
      by it pursuant to Section 4.01(b) hereof, such right of reimbursement
      pursuant to this subclause (iv) being limited to (x) amounts received on
      the related Mortgage Loan(s) in respect of which any such Advance was
      made and (y) amounts not otherwise reimbursed to the Trustee pursuant to
      Section 3.08(a)(ii) hereof;

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<PAGE>

            (v) to reimburse the Trustee for any Nonrecoverable Advance
      previously made by the Trustee pursuant to Section 4.01(b) hereof, such
      right of reimbursement pursuant to this subclause (v) being limited to
      amounts not otherwise reimbursed to the Trustee pursuant to Section
      3.08(a)(iii) hereof; and

            (vi) to clear and terminate the Distribution Account upon
      termination of this Agreement pursuant to Section 9.01.

      (c) The Trustee shall withdraw funds from the Carryover Shortfall
Reserve Fund for distribution to the LIBOR Certificates and the Class X-P
Certificates in the manner specified in Section 4.02(a)(4) (and to withhold
from the amounts so withdrawn the amount of any taxes that it is authorized to
retain pursuant to the third paragraph of Section 8.11). In addition, the
Trustee may from time to time make withdrawals from the Carryover Shortfall
Reserve Fund for the following purposes:

            (i) to withdraw any amount deposited in the Carryover Shortfall
      Reserve Fund and not required to be deposited therein; and

            (ii) to clear and terminate the Carryover Shortfall Reserve Fund
      upon the retirement of LIBOR Certificates and the Class X-P Certificates
      pursuant to Section 9.01.

      (d) On the Business Day before the Class X-P Principal Distribution
Date, the Trustee shall transfer from the Principal Reserve Fund to the
Distribution Account $100 and shall distribute such amount to the Class X-P
Certificates on the Class X-P Principal Distribution Date. Following the
distributions to be made in accordance with the preceding sentence, the
Trustee shall then terminate the Principal Reserve Fund.

      (e) [Reserved].

      SECTION 3.09. Maintenance of Hazard Insurance; Maintenance of Primary
Insurance Policies.

      (a) The Master Servicer shall cause to be maintained, for each Mortgage
Loan, hazard insurance with extended coverage in an amount that is at least
equal to the lesser of (i) the maximum insurable value of the improvements
securing such Mortgage Loan or (ii) the greater of (y) the outstanding
principal balance of the Mortgage Loan, including any Deferred Interest, and
(z) an amount such that the proceeds of such policy shall be sufficient to
prevent the Mortgagor and/or the mortgagee from becoming a co-insurer. Each
such policy of standard hazard insurance shall contain, or have an
accompanying endorsement that contains, a standard mortgagee clause. Any
amounts collected by the Master Servicer under any such policies (other than
the amounts to be applied to the restoration or repair of the related
Mortgaged Property or amounts released to the Mortgagor in accordance with the
Master Servicer's normal servicing procedures) shall be deposited in the
Certificate Account. Any cost incurred by the Master Servicer in maintaining
any such insurance shall not, for the purpose of calculating monthly
distributions to the Certificateholders or remittances to the Trustee for
their benefit, be added to the principal balance of the Mortgage Loan,
notwithstanding that the terms of the Mortgage Loan so permit. Such costs
shall be recoverable by the Master Servicer out of late payments by the
related Mortgagor or out of the proceeds of liquidation of the Mortgage Loan
or Subsequent

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Recoveries to the extent permitted by Section 3.08. It is understood and
agreed that no earthquake or other additional insurance is to be required of
any Mortgagor or maintained on property acquired in respect of a Mortgage
other than pursuant to such applicable laws and regulations as shall at any
time be in force and as shall require such additional insurance. If the
Mortgaged Property is located at the time of origination of the Mortgage Loan
in a federally designated special flood hazard area and such area is
participating in the national flood insurance program, the Master Servicer
shall cause flood insurance to be maintained with respect to such Mortgage
Loan. Such flood insurance shall be in an amount equal to the least of (i) the
outstanding principal balance of the related Mortgage Loan, (ii) the
replacement value of the improvements which are part of such Mortgaged
Property, and (iii) the maximum amount of such insurance available for the
related Mortgaged Property under the national flood insurance program.

      (b) The Master Servicer shall not take any action which would result in
non-coverage under any applicable Primary Insurance Policy of any loss which,
but for the actions of the Master Servicer, would have been covered
thereunder. The Master Servicer shall not cancel or refuse to renew any such
Primary Insurance Policy that is in effect at the date of the initial issuance
of the Certificates and is required to be kept in force hereunder unless the
replacement Primary Insurance Policy for such canceled or non-renewed policy
is maintained with a Qualified Insurer.

      Except with respect to any Lender PMI Mortgage Loans, the Master
Servicer shall not be required to maintain any Primary Insurance Policy (i)
with respect to any Mortgage Loan with a Loan-to-Value Ratio less than or
equal to 80% as of any date of determination or, based on a new appraisal, the
principal balance of such Mortgage Loan represents 80% or less of the new
appraised value or (ii) if maintaining such Primary Insurance Policy is
prohibited by applicable law. With respect to the Lender PMI Mortgage Loans,
the Master Servicer shall maintain the Primary Insurance Policy for the life
of such Mortgage Loans, unless otherwise provided for in the related Mortgage
Note or prohibited by law.

      The Master Servicer agrees to effect the timely payment of the premiums
on each Primary Insurance Policy, and such costs not otherwise recoverable
shall be recoverable by the Master Servicer from the related proceeds of
liquidation and Subsequent Recoveries.

      (c) In connection with its activities as Master Servicer of the Mortgage
Loans, the Master Servicer agrees to present on behalf of itself, the Trustee
and Certificateholders, claims to the insurer under any Primary Insurance
Policies and, in this regard, to take such reasonable action as shall be
necessary to permit recovery under any Primary Insurance Policies respecting
defaulted Mortgage Loans. Any amounts collected by the Master Servicer under
any Primary Insurance Policies shall be deposited in the Certificate Account.

      SECTION 3.10. Enforcement of Due-on-Sale Clauses; Assumption Agreements.

      (a) Except as otherwise provided in this Section, when any property
subject to a Mortgage has been conveyed by the Mortgagor, the Master Servicer
shall to the extent that it has knowledge of such conveyance, enforce any
due-on-sale clause contained in any Mortgage Note or Mortgage, to the extent
permitted under applicable law and governmental regulations, but only to the
extent that such enforcement will not adversely affect or jeopardize coverage
under

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<PAGE>

any Required Insurance Policy. Notwithstanding the foregoing, the Master
Servicer is not required to exercise such rights with respect to a Mortgage
Loan if the Person to whom the related Mortgaged Property has been conveyed or
is proposed to be conveyed satisfies the terms and conditions contained in the
Mortgage Note and Mortgage related thereto and the consent of the mortgagee
under such Mortgage Note or Mortgage is not otherwise so required under such
Mortgage Note or Mortgage as a condition to such transfer. In the event that
the Master Servicer is prohibited by law from enforcing any such due-on-sale
clause, or if coverage under any Required Insurance Policy would be adversely
affected, or if nonenforcement is otherwise permitted hereunder, the Master
Servicer is authorized, subject to Section 3.10(b), to take or enter into an
assumption and modification agreement from or with the person to whom such
property has been or is about to be conveyed, pursuant to which such person
becomes liable under the Mortgage Note and, unless prohibited by applicable
state law, the Mortgagor remains liable thereon, provided that the Mortgage
Loan shall continue to be covered (if so covered before the Master Servicer
enters such agreement) by the applicable Required Insurance Policies. The
Master Servicer, subject to Section 3.10(b), is also authorized with the prior
approval of the insurers under any Required Insurance Policies to enter into a
substitution of liability agreement with such Person, pursuant to which the
original Mortgagor is released from liability and such Person is substituted
as Mortgagor and becomes liable under the Mortgage Note. Notwithstanding the
foregoing, the Master Servicer shall not be deemed to be in default under this
Section by reason of any transfer or assumption which the Master Servicer
reasonably believes it is restricted by law from preventing, for any reason
whatsoever.

      (b) Subject to the Master Servicer's duty to enforce any due-on-sale
clause to the extent set forth in Section 3.10(a), in any case in which a
Mortgaged Property has been conveyed to a Person by a Mortgagor, and such
Person is to enter into an assumption agreement or modification agreement or
supplement to the Mortgage Note or Mortgage that requires the signature of the
Trustee, or if an instrument of release signed by the Trustee is required
releasing the Mortgagor from liability on the Mortgage Loan, the Master
Servicer shall prepare and deliver or cause to be prepared and delivered to
the Trustee for signature and shall direct, in writing, the Trustee to execute
the assumption agreement with the Person to whom the Mortgaged Property is to
be conveyed and such modification agreement or supplement to the Mortgage Note
or Mortgage or other instruments as are reasonable or necessary to carry out
the terms of the Mortgage Note or Mortgage or otherwise to comply with any
applicable laws regarding assumptions or the transfer of the Mortgaged
Property to such Person. In connection with any such assumption, no material
term of the Mortgage Note may be changed. In addition, the substitute
Mortgagor and the Mortgaged Property must be acceptable to the Master Servicer
in accordance with its underwriting standards as then in effect. Together with
each such substitution, assumption or other agreement or instrument delivered
to the Trustee for execution by it, the Master Servicer shall deliver an
Officer's Certificate signed by a Servicing Officer stating that the
requirements of this subsection have been met in connection therewith. The
Master Servicer shall notify the Trustee that any such substitution or
assumption agreement has been completed by forwarding to the Trustee the
original of such substitution or assumption agreement, which in the case of
the original 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. Any fee collected
by the Master Servicer for entering into an assumption or substitution of
liability agreement will be retained by the Master Servicer as additional
servicing compensation.

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      SECTION 3.11. Realization Upon Defaulted Mortgage Loans; Repurchase of
Certain Mortgage Loans.

      (a) The Master Servicer shall use reasonable efforts 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.
In connection with such foreclosure or other conversion, the Master Servicer
shall follow such practices and procedures as it shall deem necessary or
advisable and as shall be normal and usual in its general mortgage servicing
activities and meet the requirements of the insurer under any Required
Insurance Policy; provided, however, that the Master Servicer shall not be
required to expend its own funds in connection with any foreclosure or towards
the restoration of any property unless it shall determine (i) that such
restoration and/or foreclosure will increase the proceeds of liquidation of
the Mortgage Loan after reimbursement to itself of such expenses and (ii) that
such expenses will be recoverable to it through the proceeds of liquidation of
the Mortgage Loan and Subsequent Recoveries (respecting which it shall have
priority for purposes of withdrawals from the Certificate Account). The Master
Servicer shall be responsible for all other costs and expenses incurred by it
in any such proceedings; provided, however, that it shall be entitled to
reimbursement of such costs and expenses from the proceeds of liquidation of
the Mortgage Loan and Subsequent Recoveries with respect to the related
Mortgaged Property, as provided in the definition of Liquidation Proceeds. If
the Master Servicer has knowledge that a Mortgaged Property which the Master
Servicer is contemplating acquiring in foreclosure or by deed in lieu of
foreclosure is located within a one-mile radius of any site listed in the
Expenditure Plan for the Hazardous Substance Clean Up Bond Act of 1984 or
other site with environmental or hazardous waste risks known to the Master
Servicer, the Master Servicer will, prior to acquiring the Mortgaged Property,
consider such risks and only take action in accordance with its established
environmental review procedures.

      With respect to any REO Property, the deed or certificate of sale shall
be taken in the name of the Trustee for the benefit of the Certificateholders,
or its nominee, on behalf of the Certificateholders. The Trustee's name shall
be placed on the title to such REO Property solely as the Trustee hereunder
and not in its individual capacity. The Master Servicer shall ensure that the
title to such REO Property references the Pooling and Servicing Agreement and
the Trustee's capacity thereunder. The Master Servicer shall allow any REO
Property that was subject to a lease at the time of acquisition through
foreclosure or deed-in-lieu of foreclosure to continue to be rented pursuant
to such lease, but upon the expiration of such lease, the Master Servicer
shall not take any action to rent the related REO Property. Pursuant to its
efforts to sell such REO Property, the Master Servicer shall either itself or
through an agent selected by the Master Servicer protect and conserve such REO
Property in the same manner and to such extent as is customary in the locality
where such REO Property is located. The Master Servicer shall prepare for and
deliver to the Trustee a statement with respect to each REO Property that has
been rented showing the aggregate rental income received and all expenses
incurred in connection with the maintenance of such REO Property at such times
as is necessary to enable the Trustee to comply with the reporting
requirements of the REMIC Provisions. Any net monthly income from such REO
Property shall be deposited in the Certificate Account no later than the close
of business on each Determination Date. The Master Servicer shall perform the
tax reporting and withholding required by Sections 1445 and 6050J of the Code
with respect to foreclosures and abandonments,

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the tax reporting required by Section 6050H of the Code with respect to the
receipt of mortgage interest from individuals and any tax reporting required
by Section 6050P of the Code with respect to the cancellation of indebtedness
by certain financial entities, by preparing such tax and information returns
as may be required, in the form required, and delivering the same to the
Trustee for filing.

      In the event that the Trust Fund acquires any Mortgaged Property as
aforesaid or otherwise in connection with a default or imminent default on a
Mortgage Loan, the Master Servicer shall dispose of such Mortgaged Property as
soon as practicable in a manner that maximizes the Liquidation Proceeds
thereof, but in no event later than three years after its acquisition by the
Trust Fund. In the event that the Trustee shall have been supplied with an
Opinion of Counsel to the effect that the holding by the Trust Fund of such
Mortgaged Property subsequent to a three-year period, if applicable, will not
result in the imposition of taxes on "prohibited transactions" of any REMIC
hereunder as defined in section 860F of the Code or cause any REMIC hereunder
to fail to qualify as a REMIC at any time that any Certificates are
outstanding, then the Trust Fund may continue to hold such Mortgaged Property
(subject to any conditions contained in such Opinion of Counsel) after the
expiration of such three-year period. Notwithstanding any other provision of
this Agreement, no Mortgaged Property acquired by the Trust Fund shall be
allowed to continue to be rented or otherwise used for the production of
income by or on behalf of the Trust Fund in such a manner or pursuant to any
terms that would (i) cause such Mortgaged Property to fail to qualify as
"foreclosure property" within the meaning of section 860G(a)(8) of the Code or
(ii) subject any REMIC hereunder to the imposition of any federal, state or
local income taxes on the income earned from such Mortgaged Property under
section 860G(c) of the Code or otherwise, unless the Master Servicer has
agreed to indemnify and hold harmless the Trust Fund with respect to the
imposition of any such taxes.

      In the event of a default on a Mortgage Loan one or more of whose
obligor is not a United States Person, as that term is defined in section
7701(a)(30) of the Code, in connection with any foreclosure or acquisition of
a deed in lieu of foreclosure (together, "foreclosure") in respect of such
Mortgage Loan, the Master Servicer will cause compliance with the provisions
of Treasury Regulation Section 1.1445-2(d)(3) (or any successor thereto)
necessary to assure that no withholding tax obligation arises with respect to
the proceeds of such foreclosure except to the extent, if any, that proceeds
of such foreclosure are required to be remitted to the obligors on such
Mortgage Loan.

      The decision of the Master Servicer to foreclose on a defaulted Mortgage
Loan shall be subject to a determination by the Master Servicer that the
proceeds of such foreclosure would exceed the costs and expenses of bringing
such a proceeding. The income earned from the rental of any REO Properties,
net of reimbursement to the Master Servicer for expenses incurred (including
any property or other taxes) in connection with such management and net of
unreimbursed Master Servicing Fees, Advances and Servicing Advances, shall be
applied to the payment of principal of and interest on the related defaulted
Mortgage Loans (with interest accruing as though such Mortgage Loans were
still current) and all such income shall be deemed, for all purposes in this
Agreement, to be payments on account of principal and interest on the related
Mortgage Notes and shall be deposited into the Certificate Account. To the
extent the net income received during any calendar month is in excess of the
amount attributable to amortizing principal and accrued interest at the
related Mortgage Rate on the related Mortgage Loan for

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such calendar month, such excess shall be considered to be a partial
prepayment of principal of the related Mortgage Loan.

      The proceeds from any liquidation of a Mortgage Loan, as well as any
income from an REO Property, will be applied in the following order of
priority: first, to reimburse the Master Servicer for any related unreimbursed
Servicing Advances and Master Servicing Fees; second, to reimburse the Master
Servicer or the Trustee for any unreimbursed Advances; third, to reimburse the
Certificate Account for any Nonrecoverable Advances (or portions thereof) that
were previously withdrawn by the Master Servicer or the Trustee pursuant to
Section 3.08(a)(iii) that related to such Mortgage Loan; fourth, to accrued
and unpaid interest (to the extent no Advance has been made for such amount or
any such Advance has been reimbursed) on the Mortgage Loan or related REO
Property, at the Adjusted Net Mortgage Rate to the end of the Due Period
concluding in the month in which such amounts are required to be distributed;
and fifth, as a recovery of principal of the Mortgage Loan. Excess Proceeds,
if any, from the liquidation of a Liquidated Mortgage Loan will be retained by
the Master Servicer as additional servicing compensation pursuant to Section
3.14.

      The Master Servicer, in its sole discretion, shall have the right to
purchase for its own account from the Trust Fund any Mortgage Loan that is 151
days or more delinquent at a price equal to the Purchase Price; provided,
however, that the Master Servicer may only exercise this right on or before
the next to the last day of the calendar month in which such Mortgage Loan
became 151 days delinquent (such month, the "Eligible Repurchase Month");
provided further, that any such Mortgage Loan that becomes current but
thereafter becomes delinquent may be purchased by the Master Servicer pursuant
to this Section in any ensuing Eligible Repurchase Month. The Master Servicer,
in its sole discretion, shall also have the right to purchase for its own
account from the Trust Fund at a price equal to the Purchase Price any
Eligible EPD Protected Mortgage Loan. The Master Servicer's right to purchase
any such Eligible EPD Protected Mortgage Loan shall expire on the 270th day
following the date on which the related Mortgage Loan became an Eligible EPD
Protected Mortgage Loan. The Purchase Price for any Mortgage Loan purchased
under this Section 3.11 shall be deposited in the Certificate Account and the
Trustee, upon receipt of a certificate from the Master Servicer in the form of
Exhibit N to this Agreement, shall release or cause to be released to the
purchaser of such Mortgage Loan the related Mortgage File and shall execute
and deliver such instruments of transfer or assignment prepared by the
purchaser of such Mortgage Loan, in each case without recourse, as shall be
necessary to vest in the purchaser of such Mortgage Loan any Mortgage Loan
released pursuant hereto and the purchaser of such Mortgage Loan shall succeed
to all the Trustee's right, title and interest in and to such Mortgage Loan
and all security and documents related thereto. Such assignment shall be an
assignment outright and not for security. The purchaser of such Mortgage Loan
shall thereupon own such Mortgage Loan, and all security and documents, free
of any further obligation to the Trustee or the Certificateholders with
respect thereto.

      (b) Countrywide is permitted to solicit Mortgagors for reductions to the
Mortgage Rates of their respective Mortgage Loans so long as the Mortgagors
are not selected for solicitation based on the inclusion of the related
Mortgage Loans in the Trust Fund. If a Mortgagor requests a reduction to the
Mortgage Rate for the related Mortgage Loan, the Master Servicer shall agree
to a reduction in the Mortgage Rate of that Mortgage Loan (the "Modified
Mortgage Loan") if (i) no monetary default exists with respect to such
Mortgage Loan and (ii) Countrywide, in its corporate capacity, agrees to
purchase the Modified Mortgage Loan from the Trust Fund

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immediately following the modification as described below. Effective
immediately after the modification, and, in any event, on the same Business
Day on which the modification occurs, all interest of the Trustee in the
Modified Mortgage Loan shall automatically be deemed transferred and assigned
to Countrywide and all benefits and burdens of ownership thereof, including
the right to accrued interest thereon from the date of modification and the
risk of default thereon, shall pass to Countrywide. The Master Servicer shall
promptly deliver to the Trustee a certification of a Servicing Officer to the
effect that all requirements of this paragraph have been satisfied with
respect to the Modified Mortgage Loan. For federal income tax purposes, the
Trustee shall account for such purchase as a prepayment in full of the
Modified Mortgage Loan.

      Countrywide shall remit the Purchase Price for any Modified Mortgage
Loan to the Master Servicer for deposit into the Certificate Account pursuant
to Section 3.05 within one Business Day after the purchase of the Modified
Mortgage Loan. Upon receipt by the Trustee of written notification of any such
deposit signed by a Servicing Officer, the Trustee shall release to
Countrywide the related Mortgage File and shall execute and deliver such
instruments of transfer or assignment, in each case without recourse, as shall
be necessary to vest in Countrywide any Modified Mortgage Loan previously
transferred and assigned pursuant hereto. Countrywide covenants and agrees to
indemnify the Trust Fund against any liability for any "prohibited
transaction" taxes and any related interest, additions, and penalties imposed
on the Trust Fund established hereunder as a result of any modification of a
Mortgage Loan effected pursuant to this subsection (b), any holding of a
Modified Mortgage Loan by the Trust Fund or any purchase of a Modified
Mortgage Loan by Countrywide (but such obligation shall not prevent
Countrywide or any other appropriate Person from in good faith contesting any
such tax in appropriate proceedings and shall not prevent Countrywide from
withholding payment of such tax, if permitted by law, pending the outcome of
such proceedings). Countrywide shall have no right of reimbursement for any
amount paid pursuant to the foregoing indemnification, except to the extent
that the amount of any tax, interest, and penalties, together with interest
thereon, is refunded to the Trust Fund or Countrywide. Nothing in this Section
3.11(b) restricts the ability of the Master Servicer to modify a Mortgage Loan
in a manner that is consistent with the servicing standard set forth in
Section 3.01; provided, however, that Countrywide shall have no obligation to
purchase any such modified Mortgage Loan.

      SECTION 3.12. Trustee to Cooperate; Release of Mortgage Files.

      Upon the payment in full of any Mortgage Loan, or the receipt by the
Master Servicer of a notification that payment in full will be escrowed in a
manner customary for such purposes, the Master Servicer will immediately
notify the Trustee by delivering, or causing to be delivered a "Request for
Release" substantially in the form of Exhibit N of this Agreement. Upon
receipt of such request, the Trustee shall promptly release the related
Mortgage File to the Master Servicer, and the Trustee shall at the Master
Servicer's direction execute and deliver to the Master Servicer the request
for reconveyance, deed of reconveyance or release or satisfaction of mortgage
or such instrument releasing the lien of the Mortgage in each case provided by
the Master Servicer, together with the Mortgage Note with written evidence of
cancellation on the Mortgage Note. The Master Servicer is authorized to cause
the removal from the registration on the MERS(R) System of such Mortgage and
to execute and deliver, on behalf of the Trustee and the Certificateholders or
any of them, any and all instruments of satisfaction or cancellation or of
partial or full release. Expenses incurred in connection with any instrument
of satisfaction or deed of reconveyance shall be chargeable to the related
Mortgagor. From time to time and as

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shall be appropriate for the servicing or foreclosure of any Mortgage Loan,
including for such purpose, collection under any policy of flood insurance,
any fidelity bond or errors or omissions policy, or for the purposes of
effecting a partial release of any Mortgaged Property from the lien of the
Mortgage or the making of any corrections to the Mortgage Note or the Mortgage
or any of the other documents included in the Mortgage File, the Trustee
shall, upon delivery to the Trustee of a Request for Release in the form of
Exhibit M signed by a Servicing Officer, release the Mortgage File to the
Master Servicer. Subject to the further limitations set forth below, the
Master Servicer shall cause the Mortgage File or documents so released to be
returned to the Trustee when the need therefor by the Master Servicer no
longer exists, unless the Mortgage Loan is liquidated and the proceeds thereof
are deposited in the Certificate Account, in which case the Master Servicer
shall deliver to the Trustee a Request for Release in the form of Exhibit N,
signed by a Servicing Officer.

      If the Master Servicer at any time seeks to initiate a foreclosure
proceeding in respect of any Mortgaged Property as authorized by this
Agreement, the Master Servicer shall deliver or cause to be delivered to the
Trustee, for signature, as appropriate, any court pleadings, requests for
trustee's sale or other documents necessary to effectuate such foreclosure or
any legal action brought to obtain judgment against the Mortgagor on the
Mortgage Note or the Mortgage or to obtain a deficiency judgment or to enforce
any other remedies or rights provided by the Mortgage Note or the Mortgage or
otherwise available at law or in equity.

      SECTION 3.13. Documents, Records and Funds in Possession of Master
Servicer to be Held for the Trustee.

      Notwithstanding any other provisions of this Agreement, the Master
Servicer shall transmit to the Trustee as required by this Agreement all
documents and instruments in respect of a Mortgage Loan coming into the
possession of the Master Servicer from time to time and shall account fully to
the Trustee for any funds received by the Master Servicer or which otherwise
are collected by the Master Servicer as Liquidation Proceeds, Insurance
Proceeds or Subsequent Recoveries in respect of any Mortgage Loan. All
Mortgage Files and funds collected or held by, or under the control of, the
Master Servicer in respect of any Mortgage Loans, whether from the collection
of principal and interest payments or from Liquidation Proceeds and any
Subsequent Recoveries, including but not limited to, any funds on deposit in
the Certificate Account, shall be held by the Master Servicer for and on
behalf of the Trustee and shall be and remain the sole and exclusive property
of the Trustee, subject to the applicable provisions of this Agreement. The
Master Servicer also agrees that it shall not create, incur or subject any
Mortgage File or any funds that are deposited in the Certificate Account,
Distribution Account or any Escrow Account, or any funds that otherwise are or
may become due or payable to the Trustee for the benefit of the
Certificateholders, to any claim, lien, security interest, judgment, levy,
writ of attachment or other encumbrance, or assert by legal action or
otherwise any claim or right of setoff against any Mortgage File or any funds
collected on, or in connection with, a Mortgage Loan, except, however, that
the Master Servicer shall be entitled to set off against and deduct from any
such funds any amounts that are properly due and payable to the Master
Servicer under this Agreement.

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      SECTION 3.14. Servicing Compensation.

      As compensation for its activities hereunder, the Master Servicer shall
be entitled to retain or withdraw from the Certificate Account an amount equal
to the Master Servicing Fee; provided, that the aggregate Master Servicing Fee
with respect to any Distribution Date shall be reduced (i) by an amount equal
to the aggregate of the Prepayment Interest Shortfalls, if any, with respect
to such Distribution Date, but not to exceed the Compensating Interest for
that Distribution Date, and (ii) with respect to the first Distribution Date,
an amount equal to any amount to be deposited into the Distribution Account by
the Depositor pursuant to Section 2.01(a) and not so deposited.

      Additional servicing compensation in the form of Excess Proceeds,
assumption fees, late payment charges and all income and gain net of any
losses realized from Permitted Investments shall be retained by the Master
Servicer to the extent not required to be deposited in the Certificate Account
pursuant to Section 3.05. The Master Servicer shall be required to pay all
expenses incurred by it in connection with its master servicing activities
hereunder (including payment of any premiums for hazard insurance and any
Primary Insurance Policy and maintenance of the other forms of insurance
coverage required by this Agreement) and shall not be entitled to
reimbursement therefor except as specifically provided in this Agreement.

      SECTION 3.15. Access to Certain Documentation.

      The Master Servicer shall provide to the OTS and the FDIC and to
comparable regulatory authorities supervising Certificateholders and/or
Certificate Owners and the examiners and supervisory agents of the OTS, the
FDIC and such other authorities, access to the documentation regarding the
Mortgage Loans required by applicable regulations of the OTS and the FDIC.
Such access shall be afforded without charge, but only upon reasonable and
prior written request and during normal business hours at the offices
designated by the Master Servicer. Nothing in this Section shall limit the
obligation of the Master Servicer to observe any applicable law prohibiting
disclosure of information regarding the Mortgagors and the failure of the
Master Servicer to provide access as provided in this Section as a result of
such obligation shall not constitute a breach of this Section.

      SECTION 3.16. Annual Statement as to Compliance.

      (a) The Master Servicer shall deliver to the Depositor and the Trustee
on or before March 15 of each year, commencing with its 2008 fiscal year, an
Officer's Certificate stating, as to the signer thereof, that (i) a review of
the activities of the Master Servicer during the preceding calendar year (or
applicable portion thereof) and of the performance of the Master Servicer
under this Agreement has been made under such officer's supervision and (ii)
to the best of such officer's knowledge, based on such review, the Master
Servicer has fulfilled all its obligations under this Agreement in all
material respects throughout such year (or applicable portion thereof), or, if
there has been a failure to fulfill any such obligation in any material
respect, specifying each such failure known to such officer and the nature and
status thereof.

      (b) The Master Servicer shall cause each Subservicer to deliver to the
Depositor and the Trustee on or before March 15 of each year, commencing with
its 2008 fiscal year, an Officer's Certificate stating, as to the signer
thereof, that (i) a review of the activities of such

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Subservicer during the preceding calendar year (or applicable portion thereof)
and of the performance of the Subservicer under the applicable Subservicing
Agreement or primary servicing agreement, has been made under such officer's
supervision and (ii) to the best of such officer's knowledge, based on such
review, such Subservicer has fulfilled all its obligations under the
applicable Subservicing Agreement or primary servicing agreement, in all
material respects throughout such year (or applicable portion thereof), or, if
there has been a failure to fulfill any such obligation in any material
respect, specifying each such failure known to such officer and the nature and
status thereof.

      (c) The Trustee shall forward a copy of each such statement to each
Rating Agency.

      SECTION 3.17. Errors and Omissions Insurance; Fidelity Bonds.

      The Master Servicer shall for so long as it acts as master servicer
under this Agreement, obtain and maintain in force (a) a policy or policies of
insurance covering errors and omissions in the performance of its obligations
as Master Servicer hereunder and (b) a fidelity bond in respect of its
officers, employees and agents. Each such policy or policies and bond shall,
together, comply with the requirements from time to time of FNMA or FHLMC for
persons performing servicing for mortgage loans purchased by FNMA or FHLMC. In
the event that any such policy or bond ceases to be in effect, the Master
Servicer shall obtain a comparable replacement policy or bond from an insurer
or issuer, meeting the requirements set forth above as of the date of such
replacement.

      SECTION 3.18. Notification of Adjustments.

      On each Adjustment Date, the Master Servicer shall make interest rate
and/or monthly payment adjustments for each Mortgage Loan in compliance with
the requirements of the related Mortgage and Mortgage Note and applicable
regulations. The Master Servicer shall execute and deliver the notices
required by each Mortgage and Mortgage Note and applicable regulations
regarding interest rate and/or monthly payment adjustments. The Master
Servicer also shall provide timely notification to the Trustee of all
applicable data and information regarding such interest rate or monthly
payment adjustments and the Master Servicer's methods of implementing such
adjustments. Upon the discovery by the Master Servicer or the Trustee that the
Master Servicer has failed to adjust or has incorrectly adjusted a Mortgage
Rate or a monthly payment pursuant to the terms of the related Mortgage Note
and Mortgage, the Master Servicer shall immediately deposit in the Certificate
Account from its own funds the amount of any interest and/or principal loss
caused thereby without reimbursement therefor; provided, however, the Master
Servicer shall be held harmless with respect to any interest rate and/or
monthly payment adjustments made by any servicer prior to the Master Servicer.

      SECTION 3.19. [Reserved].

      SECTION 3.20. Prepayment Charges.

      (a) Notwithstanding anything in this Agreement to the contrary, in the
event of a Principal Prepayment in full or in part of a Mortgage Loan, the
Master Servicer may not waive any Prepayment Charge or portion thereof
required by the terms of the related Mortgage Note unless (i) such Mortgage
Loan is in default or the Master Servicer believes that such a default is
imminent and the Master Servicer determines that such waiver would maximize
recovery of

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Liquidation Proceeds for such Mortgage Loan, taking into account the value of
such Prepayment Charge, or (ii) (A) the enforceability thereof is limited (1)
by bankruptcy, insolvency, moratorium, receivership, or other similar law
relating to creditors' rights generally or (2) due to acceleration in
connection with a foreclosure or other involuntary payment, or (B) the
enforceability is otherwise limited or prohibited by applicable law. In the
event of a Principal Prepayment in full or in part with respect to any
Mortgage Loan, the Master Servicer shall deliver to the Trustee an Officer's
Certificate no later than the third Business Day following the immediately
succeeding Determination Date with a copy to the Class X-P Certificateholders.
If the Master Servicer has waived or does not collect all or a portion of a
Prepayment Charge relating to a Principal Prepayment in full or in part due to
any action or omission of the Master Servicer, other than as provided above,
the Master Servicer shall deliver to the Trustee, together with the Principal
Prepayment in full or in part, the amount of such Prepayment Charge (or such
portion thereof as had been waived) for deposit into the Certificate Account
(not later than 1:00 p.m. Pacific time on the immediately succeeding Master
Servicer Advance Date, in the case of such Prepayment Charge) for distribution
in accordance with the terms of this Agreement.

      (b) Upon discovery by the Master Servicer or a Responsible Officer of
the Trustee of a breach of the foregoing subsection (a), the party discovering
the breach shall give prompt written notice to the other parties.

      (c) Countrywide represents and warrants to the Depositor and the
Trustee, as of the Closing Date, that the information contained in clauses
(xix), (xx) and (xxi) of the Mortgage Loan Schedule is complete and accurate
in all material respects at the dates as of which the information is furnished
and each Prepayment Charge is permissible and enforceable in accordance with
its terms under applicable state law, except as the enforceability thereof is
limited due to acceleration in connection with a foreclosure or other
involuntary payment.

      (d) Upon discovery by the Master Servicer or a Responsible Officer of
the Trustee of a breach of the foregoing clause (c) that materially and
adversely affects the right of the Holders of the Class X-P Certificates to
any Prepayment Charge, the party discovering the breach shall give prompt
written notice to the other parties. Within 60 days of the earlier of
discovery by Countrywide or receipt of notice by Countrywide of breach,
Countrywide shall cure the breach in all material respects or shall pay to the
Master Servicer which shall deposit such amount into the Certificate Account
the amount of the Prepayment Charge that would otherwise be due from the
Mortgagor, less any amount representing such Prepayment Charge previously
collected and paid by the Master Servicer into the Certificate Account.

      SECTION 3.21. Swap Contract.

      Countrywide shall cause The Bank of New York to enter into the Swap
Contract Administration Agreement and shall assign all of its right, title and
interest in and to the interest rate swap transaction evidenced by the Swap
Contract to, and shall cause all of its obligations in respect of such
transaction to be assumed by, the Swap Contract Administrator, on the terms
and conditions set forth in the Swap Contract Assignment Agreement. The
Trustee's rights to receive certain proceeds of the Swap Contract as provided
in the Swap Contract Administration Agreement shall be rights of the Trustee
as Swap Trustee hereunder, shall be an asset of the Swap Trust and shall not
be an asset of the Trust Fund nor of any REMIC. The Swap Trustee

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<PAGE>

shall deposit any amounts received from time to time from the Swap Contract
Administrator with respect to the Swap Contract into the Swap Account.

      Upon a reduction of the Swap Counterparty's Threshold (as defined in the
Swap Contract) to zero, the Swap Trustee shall direct the Swap Contract
Administrator to (i) demand delivery of the Delivery Amount (as defined in the
Swap Contract) from the Swap Counterparty on each Valuation Date (as defined
in the Swap Contract), if applicable, (ii) deliver to the Swap Counterparty
the Return Amount (as defined in the Swap Contract) on each Valuation Date, if
applicable, as well as Distributions and the Interest Amount (each as defined
in the Swap Contract), to the extent required under the Swap Contract and
(iii) take such other action required under the Swap Contract. If a Delivery
Amount is demanded, the Swap Contract Administrator, in accordance with the
Swap Contract Administration Agreement, shall establish an Eligible Account to
hold cash and other eligible investments pledged under the Swap Contract. Any
cash or other Eligible Collateral (as defined in the Swap Contract) pledged
under the Swap Contract shall not be part of the Distribution Account or the
Swap Account unless remitted to such accounts by the Swap Contract
Administrator in accordance with the Swap Contract Administration Agreement.
If Eligible Collateral with a Value (as defined in the Swap Contract) equal to
the Delivery Amount is not delivered to the Swap Contract Administrator by the
Swap Counterparty, the Swap Trustee shall direct the Swap Contract
Administrator to notify the Swap Counterparty and Countrywide of such failure.

      Upon the Swap Trustee obtaining actual knowledge of an Event of Default
or Termination Event (each as defined in the Swap Contract) for which the Swap
Contract Administrator has the right to designate an Early Termination Date
(as defined in the Swap Contract), the Swap Trustee shall act at the written
direction of the Depositor as to whether to direct the Swap Contract
Administrator to designate an Early Termination Date; provided, however, that,
following such Event of Default or Termination Event and before directing the
Swap Contract Administrator to designate an Early Termination Date, the Swap
Trustee shall provide written notice to each Rating Agency. Following the
designation of an Early Termination Date, (i) the Swap Trustee shall use its
reasonable best efforts to enforce the rights of the Swap Contract
Administrator under the Swap Contract consistent with the terms hereof, (ii)
Countrywide shall assist the Swap Contract Administrator in procuring a
replacement swap contract with terms that are substantially the same as those
of the original Swap Contract and (iii) the Swap Trustee shall direct the Swap
Contract Administrator to request the Swap Counterparty to assist in procuring
a replacement swap contract with terms that are substantially the same as
those of the original Swap Contract.

      Any Swap Termination Payment received from the Swap Counterparty shall
be used to pay any upfront amount required under any replacement swap contract
and any excess shall be distributed to Countrywide and will not be available
to make distributions in respect of any Class of Certificates. In the event
that a replacement swap contract cannot be procured, any Swap Termination
Payment received from the Swap Counterparty in respect of the termination of
the original Swap Contract shall, in accordance with the Swap Contract
Administration Agreement, be retained by the Swap Contract Administrator and
remitted to the Swap Trustee on subsequent Distribution Dates up to and
including the Swap Contract Termination Date to pay any amounts distributable
to the LIBOR Certificates pursuant to Section 4.02(b)(iii) and (iv) that will
remain unpaid following all distributions to be made on such Distribution Date
pursuant to Section 4.02(a). Any portion of such upfront amount remaining
after the Swap Contract

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Termination Date shall be distributed to Countrywide and will not be available
to make distributions in respect of any Class of Certificates.

      In the event that the swap counterparty in respect of a replacement swap
contract pays any upfront amount to the Swap Contract Administrator in
connection with entering into the replacement swap contract and such upfront
amount is received by the Swap Contract Administrator prior to the
Distribution Date on which any Swap Termination Payment will be payable to the
Swap Counterparty in respect of the original Swap Contract, a portion of that
upfront amount equal to the lesser of (x) that upfront amount and (y) the
amount of the Swap Termination Payment due to the Swap Counterparty in respect
of the original Swap Contract (the "Adjusted Replacement Upfront Amount")
shall be included in Available Funds for that Distribution Date and any
upfront amount in excess of the Adjusted Replacement Upfront Amount shall be
distributed to Countrywide and will not be available to make distributions in
respect of any Class of Certificates. Any upfront amount paid to the Swap
Contract Administrator by the swap counterparty in respect of a replacement
swap contract after the Distribution Date on which any Swap Termination
Payment will be payable to the Swap Counterparty in respect of the original
Swap Contract shall, in accordance with the Swap Contract Administration
Agreement, be retained by the Swap Contract Administrator and remitted to the
Swap Trustee on subsequent Distribution Dates up to and including the Swap
Contract Termination Date to pay any amounts distributable to the LIBOR
Certificates pursuant to Section 4.02(b)(iii) and (iv) that will remain unpaid
following all distributions to be made on such Distribution Date pursuant to
Section 4.02(a).

      The Swap Counterparty shall be an express third party beneficiary of
this Agreement for the purpose of enforcing the provisions hereof to the
extent of the Swap Counterparty's rights explicitly specified herein as if a
party hereto.

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                                   ARTICLE IV
                                DISTRIBUTIONS AND
                         ADVANCES BY THE MASTER SERVICER

      SECTION 4.01. Advances.

      (a) The Master Servicer shall determine on or before each Master
Servicer Advance Date whether it is required to make an Advance pursuant to
the definition thereof. If the Master Servicer determines it is required to
make an Advance, it shall, on or before the Master Servicer Advance Date,
either (i) deposit into the Certificate Account an amount equal to the Advance
or (ii) make an appropriate entry in its records relating to the Certificate
Account that any Amount Held for Future Distribution has been used by the
Master Servicer in discharge of its obligation to make any such Advance. Any
funds so applied shall be replaced by the Master Servicer by deposit in the
Certificate Account no later than the close of business on the next Master
Servicer Advance Date. The Master Servicer shall be entitled to be reimbursed
from the Certificate Account for all Advances of its own funds made pursuant
to this Section as provided in Section 3.08. The obligation to make Advances
with respect to any Mortgage Loan shall continue if such Mortgage Loan has
been foreclosed or otherwise terminated and the related Mortgaged Property has
not been liquidated.

      (b) If the Master Servicer determines that it will be unable to comply
with its obligation to make the Advances as and when described in the second
sentence of Section 4.01(a), the Master Servicer shall use its best efforts to
give written notice thereof to the Trustee (each such notice a "Trustee
Advance Notice"; and such notice may be given by telecopy), not later than
3:00 P.M., New York time, on the Business Day immediately preceding the
related Master Servicer Advance Date, specifying the amount that will not be
deposited by the Master Servicer (each such amount an "Advance Deficiency")
and certifying that such Advance Deficiency constitutes an Advance hereunder
and is not a Nonrecoverable Advance. If the Trustee receives a Trustee Advance
Notice on or before 3:30 P.M., New York time on a Master Servicer Advance
Date, the Trustee shall, not later than 3:00 P.M., New York time, on the
related Distribution Date, deposit in the Distribution Account an amount equal
to the Advance Deficiency identified in such Trustee Advance Notice unless it
is prohibited from so doing by applicable law. Notwithstanding the foregoing,
the Trustee shall not be required to make such deposit if the Trustee shall
have received written notification from the Master Servicer that the Master
Servicer has deposited or caused to be deposited in the Certificate Account an
amount equal to such Advance Deficiency. All Advances made by the Trustee
pursuant to this Section 4.01(b) shall accrue interest on behalf of the
Trustee at the Trustee Advance Rate from and including the date such Advances
are made to but excluding the date of repayment, with such interest being an
obligation of the Master Servicer and not the Trust Fund. The Master Servicer
shall reimburse the Trustee for the amount of any Advance made by the Trustee
pursuant to this Section 4.01(b) together with accrued interest, not later
than the fifth day following the related Master Servicer Advance Date. In the
event that the Master Servicer does not reimburse the Trustee in accordance
with the requirements of the preceding sentence, the Trustee shall have the
right, but not the obligation, to immediately (a) terminate all of the rights
and obligations of the Master Servicer under this Agreement in accordance with
Section 7.01 and (b) subject to the limitations set forth in Section 3.04,
assume all of the rights and obligations of the Master Servicer hereunder.

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      (c) The Master Servicer shall, not later than the close of business on
the second Business Day immediately preceding each Distribution Date, deliver
to the Trustee a report (in form and substance reasonably satisfactory to the
Trustee) that indicates (i) the Mortgage Loans with respect to which the
Master Servicer has determined that the related Scheduled Payments should be
advanced and (ii) the amount of the related Scheduled Payments. The Master
Servicer shall deliver to the Trustee on the related Master Servicer Advance
Date an Officer's Certificate of a Servicing Officer indicating the amount of
any proposed Advance determined by the Master Servicer to be a Nonrecoverable
Advance.

      SECTION 4.02. Priorities of Distribution.

      (a) (1) On each Distribution Date, the Trustee shall withdraw the
Available Funds from the Distribution Account and apply such funds to
distributions on the specified Classes and Components of Certificates in the
following order and priority and, in each case, to the extent of such funds
remaining:

            (i) to the Swap Account, any Net Swap Payment or Swap Termination
      Payment (other than a Swap Termination Payment resulting from a Swap
      Counterparty Trigger Event) payable to the Swap Counterparty with
      respect to such Distribution Date;

            (ii) concurrently, to each interest-bearing Class and Component of
      Senior Certificates (including the Class X-P IO-1 and Class X-P IO-2
      Components), an amount allocable to interest equal to the Class Optimal
      Interest Distribution Amount for such Distribution Date, any shortfall
      being allocated among such Classes and Components in proportion to the
      amount of the Class Optimal Interest Distribution Amount that would have
      been distributed in the absence of such shortfall; provided, however,
      that the amount of interest otherwise distributable to the Class X-P
      IO-1 and Class X-P IO-2 Components shall be deposited into the Carryover
      Shortfall Reserve Fund and shall be distributed in accordance with
      Section 4.02(a)(4);

            (iii) [Reserved];

            (iv) to each Class of Senior Certificates and the Class X-P PO-1
      and Class X-P PO-2 Components, concurrently as follows:

                  (x) [Reserved]; and

                  (y) the Principal Amount, up to the amount of the Senior
            Principal Distribution Amount for such Distribution Date will be
            distributed, sequentially as follows:

                        (A) first, to the Class A-R Certificates, until its
                  Class Certificate Balance is reduced to zero, and

                        (B) concurrently and on a pro rata basis based on (x)
                  the aggregate Class Certificate Balance of the Class A-1-A,
                  Class A-1-B and Class A-1-C Certificates, (y) the aggregate
                  Class Certificate Balance of the Class A-2-A, Class A-2-B
                  and Class A-2-C Certificates and (z) the

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                  sum of the aggregate Class Certificate Balance of the Class
                  A-1-D, Class A-2-D and Class A-3 Certificates and the
                  aggregate Component Principal Balance of the PO Components,

                              (i) sequentially, to the Class A-1-A, Class
                              A-1-B and Class A-1-C Certificates, in that
                              order, in each case until their respective Class
                              Certificate Balances are reduced to zero,

                              (ii) sequentially, to the Class A-2-A, Class
                              A-2-B and Class A-2-C Certificates, in that
                              order, in each case until their respective Class
                              Certificate Balances are reduced to zero, and

                              (iii) concurrently, to the Class A-1-D, Class
                              A-2-D and Class A-3 Certificates and each PO
                              Component, pro rata, until their respective
                              Class Certificate Balances or Component
                              Principal Balances, as applicable, are reduced
                              to zero.

      (2) [Reserved].

      (3) On each Distribution Date, Available Funds remaining after making
the distributions described in Section 4.02(a)(1) above, shall be distributed
to the Subordinated Certificates and the Class A-R Certificates in the
following order and priority and, in each case, to the extent of such funds
remaining:

                  (A) to the Class M-1 Certificates, an amount allocable to
            interest equal to the Class Optimal Interest Distribution Amount
            for such Class for such Distribution Date;

                  (B) to the Class M-1 Certificates, an amount allocable to
            principal equal to its Pro Rata Share for such Distribution Date
            until the Class Certificate Balance thereof is reduced to zero;

                  (C) to the Class M-2 Certificates, an amount allocable to
            interest equal to the Class Optimal Interest Distribution Amount
            for such Class for such Distribution Date;

                  (D) to the Class M-2 Certificates, an amount allocable to
            principal equal to its Pro Rata Share for such Distribution Date
            until the Class Certificate Balance thereof is reduced to zero;

                  (E) to the Class M-3 Certificates, an amount allocable to
            interest equal to the Class Optimal Interest Distribution Amount
            for such Class for such Distribution Date;

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                  (F) to the Class M-3 Certificates, an amount allocable to
            principal equal to its Pro Rata Share for such Distribution Date
            until the Class Certificate Balance thereof is reduced to zero;

                  (G) to the Class M-4 Certificates, an amount allocable to
            interest equal to the Class Optimal Interest Distribution Amount
            for such Class for such Distribution Date;

                  (H) to the Class M-4 Certificates, an amount allocable to
            principal equal to its Pro Rata Share for such Distribution Date
            until the Class Certificate Balance thereof is reduced to zero;

                  (I) to the Class M-5 Certificates, an amount allocable to
            interest equal to the Class Optimal Interest Distribution Amount
            for such Class for such Distribution Date;

                  (J) to the Class M-5 Certificates, an amount allocable to
            principal equal to its Pro Rata Share for such Distribution Date
            until the Class Certificate Balance thereof is reduced to zero;

                  (K) to the Class M-6 Certificates, an amount allocable to
            interest equal to the Class Optimal Interest Distribution Amount
            for such Class for such Distribution Date;

                  (L) to the Class M-6 Certificates, an amount allocable to
            principal equal to its Pro Rata Share for such Distribution Date
            until the Class Certificate Balance thereof is reduced to zero;

                  (M) to the Class M-7 Certificates, an amount allocable to
            interest equal to the Class Optimal Interest Distribution Amount
            for such Class for such Distribution Date;

                  (N) to the Class M-7 Certificates, an amount allocable to
            principal equal to its Pro Rata Share for such Distribution Date
            until the Class Certificate Balance thereof is reduced to zero;

                  (O) to the Class M-8 Certificates, an amount allocable to
            interest equal to the Class Optimal Interest Distribution Amount
            for such Class for such Distribution Date;

                  (P) to the Class M-8 Certificates, an amount allocable to
            principal equal to its Pro Rata Share for such Distribution Date
            until the Class Certificate Balance thereof is reduced to zero;

                  (Q) to the Class M-9 Certificates, an amount allocable to
            interest equal to the Class Optimal Interest Distribution Amount
            for such Class for such Distribution Date;

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                  (R) to the Class M-9 Certificates, an amount allocable to
            principal equal to its Pro Rata Share for such Distribution Date
            until the Class Certificate Balance thereof is reduced to zero;

                  (S) to the Class B-1 Certificates, an amount allocable to
            interest equal to the Class Optimal Interest Distribution Amount
            for such Class for such Distribution Date;

                  (T) to the Class B-1 Certificates, an amount allocable to
            principal equal to its Pro Rata Share for such Distribution Date
            until the Class Certificate Balance thereof is reduced to zero;

                  (U) to the Class B-2 Certificates, an amount allocable to
            interest equal to the Class Optimal Interest Distribution Amount
            for such Class for such Distribution Date;

                  (V) to the Class B-2 Certificates, an amount allocable to
            principal equal to its Pro Rata Share for such Distribution Date
            until the Class Certificate Balance thereof is reduced to zero;

                  (W) to the Class B-3 Certificates, an amount allocable to
            interest equal to the Class Optimal Interest Distribution Amount
            for such Class for such Distribution Date;

                  (X) to the Class B-3 Certificates, an amount allocable to
            principal equal to its Pro Rata Share for such Distribution Date
            until the Class Certificate Balance thereof is reduced to zero;
            and

                  (Y) to the Swap Account, in an amount equal to any Swap
            Termination Payment due to the Swap Counterparty as a result of a
            Swap Counterparty Trigger Event;

                  (Z) to the Class A-R Certificates, any remaining funds in
            the Trust Fund.

      (4) On each Distribution Date, any amounts deposited in the Carryover
Shortfall Reserve Fund shall be distributed by the Trustee as follows:

            (i) [Reserved].

            (ii) from amounts otherwise distributable to the Class X-P IO-1
      Component on such Distribution Date, sequentially, as follows:

                        (A) concurrently, to the Classes of LIBOR Certificates
                  that are Senior Certificates, pro rata, based on their
                  respective Class Certificate Balances, in an amount up to
                  such Class' Carryover Shortfall Amounts remaining unpaid for
                  such Distribution Date;

                        (B) concurrently, to the Classes of LIBOR Certificates
                  that are Senior Certificates, pro rata, based on their
                  respective Carryover Shortfall

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<PAGE>

                  Amounts for such Distribution Date not paid pursuant to
                  clause (A) above, in an amount up to such Class' Carryover
                  Shortfall Amounts remaining unpaid for such Distribution
                  Date; and

                        (C) to the Class X-P Certificates;

                  (iii) from amounts otherwise distributable to the Class X-P
            IO-2 Component on such Distribution Date, sequentially, as
            follows:

                        (A) concurrently, to the Classes of Subordinated
                  Certificates, pro rata, based on their respective Class
                  Certificate Balances, in an amount up to such Class'
                  Carryover Shortfall Amounts remaining unpaid for such
                  Distribution Date;

                        (B) concurrently, to the Classes of Subordinated
                  Certificates, pro rata, based on their respective Carryover
                  Shortfall Amounts for such Distribution Date not paid
                  pursuant to clause (A) above, in an amount up to such Class'
                  Carryover Shortfall Amounts remaining unpaid for such
                  Distribution Date; and

                        (C) to the Class X-P Certificates.

      (5) On each Distribution Date, all amounts representing Prepayment
Charges received during the related Prepayment Period with respect to the
Mortgage Loans (including all related Master Servicer Prepayment Charge
Amounts deposited pursuant to Section 3.20) will be distributed to the Holders
of the Class X-P Certificates.

      (b) On each Distribution Date on or prior to the Swap Contract
Termination Date, following the deposits to the Swap Account pursuant to
Section 4.02(a)(1) and Section 4.02(a)(3) and the distributions described
under Section 4.02(a), the Swap Trustee shall distribute amounts on deposit in
the Swap Account in the following amounts and order of priority:

            (i) to the Swap Contract Administrator for payment to the Swap
      Counterparty, any Net Swap Payment payable to the Swap Counterparty with
      respect to such Distribution Date;

            (ii) to the Swap Contract Administrator for payment to the Swap
      Counterparty, any Swap Termination Payment (other than a Swap
      Termination Payment due to a Swap Counterparty Trigger Event) payable to
      the Swap Counterparty with respect to such Distribution Date;

            (iii) concurrently, to the Classes of LIBOR Certificates, pro
      rata, based on their respective Class Certificate Balances, in an amount
      up to the Carryover Shortfall Amount for each Class remaining unpaid for
      such Distribution Date;

            (iv) concurrently, to the Classes of LIBOR Certificates, pro rata,
      based on their respective Carryover Shortfall Amounts for such
      Distribution Date not paid pursuant to clause (iii) above, in an amount
      up to the Carryover Shortfall Amount for each Class remaining unpaid for
      such Distribution Date;

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<PAGE>

            (v) to the Swap Contract Administrator for payment to the Swap
      Counterparty, any Swap Termination Payment due to a Swap Counterparty
      Trigger Event payable to the Swap Counterparty with respect to such
      Distribution Date; and

            (vi) to the Class X-P Certificates, any remaining amounts.

      (c) To the extent that a Class of LIBOR Certificates receives interest
in excess of the Net Rate Cap, if such interest is paid pursuant to Section
4.02(b), then such interest shall be deemed to have been paid to the Swap
Account and then paid by the Swap Account to those Certificateholders.

      (d) On each Distribution Date, the amount referred to in clause (i) of
the definition of Class Optimal Interest Distribution Amount for each Class of
Certificates or Component thereof for such Distribution Date shall be reduced
for each Class of Certificates or Component thereof by the Class' Allocable
Share of (A) the Net Prepayment Interest Shortfalls, (B) with respect to each
Mortgage Loan that became subject to a Debt Service Reduction during the
calendar month preceding the month of such Distribution Date, the interest
portion of the related Debt Service Reduction and (C) each Relief Act
Reduction for the Mortgage Loans incurred during the calendar month preceding
the month of such Distribution Date.

      (e) Notwithstanding the priority and allocation contained in Section
4.02(a)(3), if, on any Distribution Date, with respect to any Class of
Subordinated Certificates (other than the Class of Subordinated Certificates
then outstanding with the highest priority of distribution), the sum of the
related Class Subordination Percentages of such Class and of all Classes of
Subordinated Certificates which have a lower distribution priority than such
Class (the "Applicable Credit Support Percentage") is less than the Original
Applicable Credit Support Percentage for such Class, no distribution of Net
Prepayments will be made to any such Classes (the "Restricted Classes") and
the amount of such Net Prepayments otherwise distributable to the Restricted
Classes shall be distributed to any Classes of Subordinated Certificates
having higher distribution priorities than such Class, pro rata, based on
their respective Class Certificate Balances immediately prior to such
Distribution Date and shall be distributed in the sequential order provided in
Section 4.02(a)(3). Notwithstanding anything in this Agreement to the
contrary, the Class of Subordinated Certificates then outstanding with the
highest distribution priority shall not be a Restricted Class.

      (f) If Subsequent Recoveries have been received with respect to a
Liquidated Mortgage Loan, the amount of such Subsequent Recoveries will be
applied sequentially, in the order of payment priority, to increase the Class
Certificate Balance or Component Principal Balance of each Class of
Certificates or Component thereof to which Realized Losses have been
allocated, but in each case by not more than the amount of Realized Losses
previously allocated to that Class of Certificates or Component pursuant to
Section 4.04. Holders of such Certificates will not be entitled to any payment
in respect of the Class Optimal Interest Distribution Amount on the amount of
such increases for any Interest Accrual Period preceding the Distribution Date
on which such increase occurs. Any such increases shall be applied pro rata to
the Certificate Balance or Component Principal Balance of each Certificate of
such Class or Component thereof.

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<PAGE>

      SECTION 4.03. Allocation of Net Deferred Interest.

      (a) For any Distribution Date, the Senior Percentage of the Net Deferred
Interest will be allocated among the Senior Certificates and the Subordinated
Percentage of the Net Deferred Interest will be allocated to the Subordinated
Certificates. Among the Senior Certificates or the Subordinated Certificates,
as applicable, the Net Deferred Interest allocated to a Class of Certificates
shall be an amount equal to the excess, if any, of (i) the amount of interest
that accrued on such Class of Certificates or its related Notional Amount
Components at its respective Pass-Through Rate during the Interest Accrual
Period related to that Distribution Date over (ii) the amount of interest that
accrued on such Class of Certificates or its related Notional Amount
Components at the related Adjusted Rate Cap during the Interest Accrual Period
related to that Distribution Date.

      (b) Any Net Deferred Interest allocated to a Class of Certificates will
be added to the Class Certificate Balance of such Class of Certificates,
except that the amount of Net Deferred Interest allocated to a Notional Amount
Component shall be added to the Component Principal Balance of the related PO
Component.

      SECTION 4.04. Allocation of Realized Losses.

      (a) On or prior to each Determination Date, the Trustee shall determine
the total amount of Realized Losses, with respect to the related Distribution
Date.

      Realized Losses with respect to any Distribution Date shall be allocated
as follows:

            (i) [Reserved];

            (ii) Any Realized Loss on the Mortgage Loans shall be allocated
      first, to the Subordinated Certificates, in reverse order of their
      respective distribution priorities (beginning with the Subordinated
      Certificates then outstanding with the lowest distribution priority)
      until the respective Class Certificate Balance of each such Class is
      reduced to zero, second, to the Classes of Senior Certificates or the PO
      Components thereof in the case of a Class of Component Certificates, pro
      rata, on the basis of their respective Class Certificate Balances or
      Component Principal Balances, as applicable, immediately prior to the
      related Distribution Date until the respective Class Certificate Balance
      or Component Principal Balance, as applicable, of each such Class is
      reduced to zero; provided, however, that any Realized Losses otherwise
      allocable to the Class A-1, Class A-2 and A-3 Certificates shall be
      allocated sequentially, first, to the Class A-3 Certificates until its
      Class Certificate Balance is reduced to zero, second, concurrently, to
      the Class A-2-A, Class A-2-B, Class A-2-C and Class A-2-D Certificates,
      pro rata, until their respective Class Certificate Balances are reduced
      to zero and third, concurrently, to the Class A-1-A, Class A-1-B, Class
      A-1-C and Class A-1-D Certificates, pro rata, until their respective
      Class Certificate Balances are reduced to zero.

      For the avoidance of doubt, the Class M-1 Certificates have a higher
      distribution priority than each other Class of Subordinated
      Certificates.

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<PAGE>

      (b) The Class Certificate Balance of the Class of Subordinated
Certificates then outstanding with the lowest distribution priority shall be
reduced on each Distribution Date by the amount, if any, by which the
aggregate Class Certificate Balance of all outstanding Classes of Certificates
(after giving effect to the distribution of principal and the allocation of
Net Deferred Interest and Realized Losses on such Distribution Date) exceeds
the Pool Stated Principal Balance as of the last day of the Due Period related
to such Distribution Date.

      (c) Any Realized Loss allocated to a Class of Certificates or any
reduction in the Class Certificate Balance of a Class of Certificates pursuant
to Section 4.04(b) above shall be allocated among the Certificates of such
Class in proportion to their respective Certificate Balances.

      (d) Any allocation of Realized Losses to a Certificate or to any
Component or any reduction in the Certificate Balance of a Certificate,
pursuant to Section 4.04(b) above shall be accomplished by reducing the
Certificate Balance or Component Principal Balance, as applicable, immediately
following the distributions made on the related Distribution Date in
accordance with the definition of "Certificate Balance" or "Component
Principal Balance," as the case may be.

      SECTION 4.05. [Reserved].

      SECTION 4.06. Monthly Statements to Certificateholders.

      (a) Concurrently with each distribution on a Distribution Date, the
Trustee will forward by mail to each Rating Agency and make available to
Certificateholders on the Trustee's website
(http://www.bnyinvestorreporting.com) a statement generally setting forth the
information contained in Exhibit Q hereto.

      (b) The Trustee's responsibility for disbursing the above information to
the Certificateholders is limited to the availability, timeliness and accuracy
of the information provided by the Master Servicer.

      (c) On or before the fifth Business Day following the end of each
Prepayment Period (but in no event later than the third Business Day prior to
the related Distribution Date), the Master Servicer shall deliver to the
Trustee (which delivery may be by electronic data transmission) a report in
substantially the form set forth as Schedule VI to this Agreement.

      (d) Within a reasonable period of time after the end of each calendar
year, the Trustee shall cause to be furnished to each Person who at any time
during the calendar year was a Certificateholder, a statement containing the
aggregate principal distributions, aggregate interest distributions and
aggregate Master Servicing Fees paid to or retained by the Master Servicer for
such calendar year or applicable portion thereof during which such Person was
a Certificateholder. Such obligation of the Trustee shall be deemed to have
been satisfied to the extent that substantially comparable information shall
be provided by the Trustee pursuant to any requirements of the Code as from
time to time in effect.

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      SECTION 4.07. [Reserved].

      SECTION 4.08. Determination of Pass-Through Rates for LIBOR
Certificates.

      (a) On each Interest Determination Date so long as any LIBOR
Certificates are outstanding, the Trustee will determine LIBOR on the basis of
the rate for one-month deposits in U.S. dollars quoted on the Bloomberg
Terminal for such LIBOR Determination Date.

      (b) If on any Interest Determination Date, LIBOR cannot be determined as
provided in paragraph (a) of this Section 4.08, the Trustee shall determine
LIBOR on the basis of the British Bankers' Association ("BBA") "Interest
Settlement Rate" for one-month deposits in U.S. dollars as found on Telerate
page 3750 as of 11:00 a.m. London time on each LIBOR Determination Date.
"Telerate Page 3750" means the display page currently so designated on the
Bloomberg Terminal (or such other page as may replace that page on that
service for the purpose of displaying comparable rates or prices).

      (c) If on any Interest Determination Date, LIBOR cannot be determined as
provided in paragraph (a) or (b) of this Section 4.08, the Trustee shall
either (i) request each Reference Bank to inform the Trustee of the quotation
offered by its principal London office for making one-month United States
dollar deposits in leading banks in the London interbank market, as of 11:00
a.m. (London time) on such Interest Determination Date or (ii) in lieu of
making any such request, rely on such Reference Bank quotations that appear at
such time on Telerate Page 3750. LIBOR for the next Interest Accrual Period
will be established by the Trustee on each Interest Determination Date as
follows:

            (i) If on any Interest Determination Date two or more Reference
      Banks provide such offered quotations, LIBOR for the next applicable
      Interest Accrual Period shall be the arithmetic mean of such offered
      quotations (rounding such arithmetic mean upwards if necessary to the
      nearest whole multiple of 1/32%).

            (ii) If on any Interest Determination Date only one or none of the
      Reference Banks provides such offered quotations, LIBOR for the next
      Interest Accrual Period shall be whichever is the higher of (i) LIBOR as
      determined on the previous Interest Determination Date or (ii) the
      Reserve Interest Rate. The "Reserve Interest Rate" shall be the rate per
      annum which the Trustee determines to be either (i) the arithmetic mean
      (rounded upwards if necessary to the nearest whole multiple of 1/32%) of
      the one-month United States dollar lending rates that New York City
      banks selected by the Trustee are quoting, on the relevant Interest
      Determination Date, to the principal London offices of at least two of
      the Reference Banks to which such quotations are, in the opinion of the
      Trustee, being so made, or (ii) in the event that the Trustee can
      determine no such arithmetic mean, the lowest one-month United States
      dollar lending rate which New York City banks selected by the Trustee
      are quoting on such Interest Determination Date to leading European
      banks.

            (iii) If on any Interest Determination Date the Trustee is
      required but is unable to determine the Reserve Interest Rate in the
      manner provided in paragraph (b) above, LIBOR for the related Classes of
      Certificates shall be LIBOR as determined on the

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<PAGE>

      preceding applicable Interest Determination Date or, in the case of the
      first Interest Determination Date, 5.320%.

      Until all of the LIBOR Certificates are paid in full, the Trustee will
at all times retain at least four Reference Banks for the purpose of
determining LIBOR with respect to each Interest Determination Date. The Master
Servicer initially shall designate the Reference Banks. Each "Reference Bank"
shall be a leading bank engaged in transactions in Eurodollar deposits in the
international Eurocurrency market, shall not control, be controlled by, or be
under common control with, the Trustee and shall have an established place of
business in London. If any such Reference Bank should be unwilling or unable
to act as such or if the Master Servicer should terminate its appointment as
Reference Bank, the Trustee shall promptly appoint or cause to be appointed
another Reference Bank. The Trustee shall have no liability or responsibility
to any Person for (i) the selection of any Reference Bank for purposes of
determining LIBOR or (ii) any inability to retain at least four Reference
Banks which is caused by circumstances beyond its reasonable control.

      (d) The Pass-Through Rate for each Class of LIBOR Certificates for each
Interest Accrual Period shall be determined by the Trustee on each Interest
Determination Date so long as the LIBOR Certificates are outstanding on the
basis of LIBOR and the respective formulae appearing in footnotes
corresponding to the LIBOR Certificates in the table relating to the
Certificates in the Preliminary Statement.

      In determining LIBOR, any Pass-Through Rate for the LIBOR Certificates,
any Interest Settlement Rate, or any Reserve Interest Rate, the Trustee may
conclusively rely and shall be protected in relying upon the offered
quotations (whether written, oral or on the Dow Jones Markets) from the BBA
designated banks, the Reference Banks or the New York City banks as to LIBOR,
the Interest Settlement Rate or the Reserve Interest Rate, as appropriate, in
effect from time to time. The Trustee shall not have any liability or
responsibility to any Person for (i) the Trustee's selection of New York City
banks for purposes of determining any Reserve Interest Rate or (ii) its
inability, following a good-faith reasonable effort, to obtain such quotations
from, the BBA designated banks, the Reference Banks or the New York City banks
or to determine such arithmetic mean, all as provided for in this Section
4.08.

      The establishment of LIBOR and each Pass-Through Rate for the LIBOR
Certificates by the Trustee shall (in the absence of manifest error) be final,
conclusive and binding upon each Holder of a Certificate and the Trustee.

      SECTION 4.09. Swap Trust and Swap Account.

            On the Closing Date, there is hereby established a separate trust
(the "Swap Trust"), the assets of which shall consist of the Trustee's rights
and obligations under the Swap Contract Administration Agreement. The Swap
Trust shall be maintained by the Swap Trustee, who initially, shall be the
Trustee. The Swap Trustee shall hold the assets of the Swap Trust in trust for
the benefit of the Holders of the Interest-Bearing Certificates and the Swap
Counterparty. No later than the Closing Date, the Swap Trustee shall establish
and maintain a separate, segregated trust account to be held in the Swap
Trust, titled, "Swap Account, The Bank of New York, as Swap Trustee, in trust
for the Swap Counterparty and the registered holders of CWALT, Inc., Mortgage
Pass-Through Certificates, Series 2007-OH1." Such account shall be an Eligible
Account and funds on deposit therein shall be held separate and apart from,
and shall

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not be commingled with, any other moneys, including, without limitation, other
moneys of the Trustee held pursuant to this Agreement. Amounts therein shall
be held uninvested. Funds on deposit in the Swap Account shall be distributed
in the amounts and in the order of priority described under Section 4.02(b).

            On each Distribution Date, the Trustee shall make a deposit to the
Swap Account pursuant to Section 4.02(a)(1)(i) and 4.02(a)(3)(Y), as
applicable. Notwithstanding anything to the contrary in this Agreement, the
Swap Trustee shall be allowed to transfer funds in the Swap Account to the
Trustee to facilitate, for administrative purposes, distribution of such funds
to Certificateholders through the Distribution Account.

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                                    ARTICLE V
                                THE CERTIFICATES

      SECTION 5.01. The Certificates.

      The Certificates shall be substantially in the forms attached hereto as
exhibits. The Certificates shall be issuable in registered form, in the
minimum denominations, integral multiples in excess thereof (except that one
Certificate in each Class may be issued in a different amount which must be in
excess of the applicable minimum denomination) and aggregate denominations per
Class set forth in the Preliminary Statement.

      Subject to Section 9.02 respecting the final distribution on the
Certificates, on each Distribution Date the Trustee shall make distributions
to each Certificateholder of record on the preceding Record Date either (x) by
wire transfer in immediately available funds to the account of such holder at
a bank or other entity having appropriate facilities therefor, if (i) such
Holder has so notified the Trustee at least five Business Days prior to the
related Record Date and (ii) such Holder shall hold (A) a Class of Component
Certificates, (B) 100% of the Class Certificate Balance of any Class of
Certificates, (C) Certificates of any Class with aggregate principal
Denominations of not less than $1,000,000, or (D) a Class X-P Certificate, or
(y) by check mailed by first class mail to such Certificateholder at the
address of such holder appearing in the Certificate Register.

      The Certificates shall be executed by manual or facsimile signature on
behalf of the Trustee by an authorized officer. Certificates bearing the
manual or facsimile signatures of individuals who were, at the time when such
signatures were affixed, authorized to sign on behalf of the Trustee shall
bind the Trustee, notwithstanding that such individuals or any of them have
ceased to be so authorized prior to the countersignature and delivery of such
Certificates or did not hold such offices at the date of such Certificate. No
Certificate shall be entitled to any benefit under this Agreement, or be valid
for any purpose, unless countersigned by the Trustee by manual signature, and
such countersignature upon any Certificate shall be conclusive evidence, and
the only evidence, that such Certificate has been duly executed and delivered
hereunder. All Certificates shall be dated the date of their countersignature.
On the Closing Date, the Trustee shall countersign the Certificates to be
issued at the direction of the Depositor, or any affiliate of the Depositor.

      The Depositor shall provide, or cause to be provided, to the Trustee on
a continuous basis, an adequate inventory of Certificates to facilitate
transfers.

      SECTION 5.02. Certificate Register; Registration of Transfer and
Exchange of Certificates.

      (a) The Trustee shall maintain, or cause to be maintained in accordance
with the provisions of Section 5.06, a Certificate Register for the Trust Fund
in which, subject to the provisions of subsections (b) and (c) below and to
such reasonable regulations as it may prescribe, the Trustee shall provide for
the registration of Certificates and of transfers and exchanges of
Certificates as provided in this Agreement. Upon surrender for registration of
transfer of any Certificate, the Trustee shall execute and deliver, in the
name of the designated

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transferee or transferees, one or more new Certificates of the same Class and
aggregate Percentage Interest.

      At the option of a Certificateholder, Certificates may be exchanged for
other Certificates of the same Class in authorized denominations and
evidencing the same aggregate Percentage Interest upon surrender of the
Certificates to be exchanged at the office or agency of the Trustee. Whenever
any Certificates are so surrendered for exchange, the Trustee shall execute,
authenticate, and deliver the Certificates which the Certificateholder making
the exchange is entitled to receive. Every Certificate presented or
surrendered for registration of transfer or exchange shall be accompanied by a
written instrument of transfer in form satisfactory to the Trustee duly
executed by the holder thereof or his attorney duly authorized in writing.

      No service charge to the Certificateholders shall be made for any
registration of transfer or exchange of Certificates, but payment of a sum
sufficient to cover any tax or governmental charge that may be imposed in
connection with any transfer or exchange of Certificates may be required.

      All Certificates surrendered for registration of transfer or exchange
shall be cancelled and subsequently destroyed by the Trustee in accordance
with the Trustee's customary procedures.

      (b) No transfer of a Private Certificate shall be made unless such
transfer is made pursuant to an effective registration statement under the
Securities Act and any applicable state securities laws or is exempt from the
registration requirements under said Act and such state securities laws. In
the event that a transfer is to be made in reliance upon an exemption from the
Securities Act and such laws, in order to assure compliance with the
Securities Act and such laws, the Certificateholder desiring to effect such
transfer and such Certificateholder's prospective transferee shall each
certify to the Trustee in writing the facts surrounding the transfer in
substantially the form set forth in the applicable Exhibit J (the "Transferor
Certificate") and (i) deliver a letter in substantially the form of either
Exhibit K (the "Investment Letter") or Exhibit L-1 (the "Rule 144A Letter") or
(ii) there shall be delivered to the Trustee at the expense of the transferor
an Opinion of Counsel that such transfer may be made pursuant to an exemption
from the Securities Act. The Depositor shall provide to any Holder of a
Private Certificate and any prospective transferee designated by any such
Holder, information regarding the related Certificates and the Mortgage Loans
and such other information as shall be necessary to satisfy the condition to
eligibility set forth in Rule 144A(d)(4) for transfer of any such Certificate
without registration thereof under the Securities Act pursuant to the
registration exemption provided by Rule 144A. The Trustee and the Master
Servicer shall cooperate with the Depositor in providing the Rule 144A
information referenced in the preceding sentence, including providing to the
Depositor such information regarding the Certificates, the Mortgage Loans and
other matters regarding the Trust Fund as the Depositor shall reasonably
request to meet its obligation under the preceding sentence. Each Holder of a
Private Certificate desiring to effect such transfer shall, and does hereby
agree to, indemnify the Trustee and the Depositor, the Sellers and the Master
Servicer against any liability that may result if the transfer is not so
exempt or is not made in accordance with such federal and state laws.

      No transfer of an ERISA-Restricted Certificate shall be made unless the
Trustee shall have received either (i) a representation from the transferee of
such Certificate acceptable to and in form and substance satisfactory to the
Trustee (in the event such Certificate is a Private

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Certificate, such requirement is satisfied only by the Trustee's receipt of a
representation letter from the transferee substantially in the form of Exhibit
K or Exhibit L-1, or in the event such Certificate is a Residual Certificate,
such requirement is satisfied only by the Trustee's receipt of a
representation letter from the transferee substantially in the form of Exhibit
I), to the effect that (x) such transferee is not an employee benefit plan or
arrangement subject to Section 406 of ERISA or a plan or arrangement subject
to Section 4975 of the Code, nor a person acting on behalf of any such plan or
arrangement, or using the assets of any such plan or arrangement to effect
such transfer or (y) in the case of a Certificate that is an ERISA-Restricted
Certificate and that has been the subject of an ERISA-Qualifying Underwriting,
a representation that the purchaser is an insurance company which is
purchasing such Certificate with funds contained in an "insurance company
general account" (as such term is defined in Section V(e) of Prohibited
Transaction Class Exemption 95-60 ("PTCE 95-60")) and that the purchase and
holding of such Certificate satisfy the requirements for exemptive relief
under Sections I and III of PTCE 95-60 or (ii) in the case of any
ERISA-Restricted Certificate presented for registration in the name of an
employee benefit plan or arrangement subject to ERISA, or a plan or
arrangement subject to Section 4975 of the Code (or comparable provisions of
any subsequent enactments), or a trustee or any other person acting on behalf
of any such plan or arrangement or using such plan's or arrangement's assets,
an Opinion of Counsel satisfactory to the Trustee, which Opinion of Counsel
shall not be an expense of the Trustee, the Master Servicer or the Trust Fund,
addressed to the Trustee and the Master Servicer, to the effect that the
purchase and holding of such ERISA-Restricted Certificate will not result in a
non-exempt prohibited transaction under Section 406 of ERISA or Section 4975
of the Code, and will not subject the Trustee or the Master Servicer to any
obligation in addition to those expressly undertaken in this Agreement or to
any liability (such Opinion of Counsel, a "Benefit Plan Opinion"). For
purposes of the preceding sentence, with respect to an ERISA-Restricted
Certificate that is not a Residual Certificate, in the event the
representation letter or Benefit Plan Opinion referred to in the preceding
sentence is not so furnished, one of the representations in clause (i), as
appropriate, shall be deemed to have been made to the Trustee by the
transferee's (including an initial acquirer's) acceptance of the
ERISA-Restricted Certificates. Notwithstanding anything else to the contrary
in this Agreement, any purported transfer of an ERISA-Restricted Certificate
to or on behalf of an employee benefit plan or arrangement subject to ERISA or
to Section 4975 of the Code without the delivery to the Trustee of a Benefit
Plan Opinion satisfactory to the Trustee as described above shall be void and
of no effect.

      To the extent permitted under applicable law (including, but not limited
to, ERISA), the Trustee shall be under no liability to any Person for any
registration of transfer of any ERISA-Restricted Certificate that is in fact
not permitted by this Section 5.02(b) or for making any payments due on such
Certificate to the Holder thereof or taking any other action with respect to
such Holder under the provisions of this Agreement so long as the transfer was
registered by the Trustee in accordance with the foregoing requirements.

      Until the Swap Trust terminates, no transfer of a LIBOR Certificate that
is not an ERISA-Restricted Certificate (other than a transfer of a LIBOR
Certificate to an affiliate of the Depositor (either directly or through a
nominee) in connection with the initial issuance of the Certificates) shall be
made unless the Trustee shall have received either (i) a written
representation from the transferee of such LIBOR Certificate acceptable to and
in form and substance satisfactory to the Trustee to the effect that such
transferee is not a Plan, or (ii) a written representation that the

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purchase and holding of the LIBOR Certificate satisfy the requirements for
exemptive relief under PTCE 84-14, PTCE 90-1, PTCE 91-38, PTCE 95-60, PTCE
96-23, the service provider exemption provided under Section 408(b)(17) of
ERISA and Section 4975(d)(20) of the Code or a similar exemption. In the event
that such representation is not delivered, one of the foregoing
representations, as appropriate, shall be deemed to have been made by the
transferee's (including an initial acquiror's) acceptance of the LIBOR
Certificate. In the event that such representation is violated, such transfer
or acquisition shall be void and of no effect.

      (c) Each Person who has or who acquires any Ownership Interest in a
Residual Certificate shall be deemed by the acceptance or acquisition of such
Ownership Interest to have agreed to be bound by the following provisions, and
the rights of each Person acquiring any Ownership Interest in a Residual
Certificate are expressly subject to the following provisions:

            (i) Each Person holding or acquiring any Ownership Interest in a
      Residual Certificate shall be a Permitted Transferee and shall promptly
      notify the Trustee of any change or impending change in its status as a
      Permitted Transferee.

            (ii) Except in connection with (i) the registration of the Tax
      Matters Person Certificate in the name of the Trustee or (ii) any
      registration in the name of, or transfer of a Residual Certificate to,
      an affiliate of the Depositor (either directly or through a nominee) in
      connection with the initial issuance of the Certificates, no Ownership
      Interest in a Residual Certificate may be registered on the Closing Date
      or thereafter transferred, and the Trustee shall not register the
      Transfer of any Residual Certificate unless the Trustee shall have been
      furnished with an affidavit (a "Transfer Affidavit") of the initial
      owner or the proposed transferee in the form attached to this Agreement
      as Exhibit I.

            (iii) Each Person holding or acquiring any Ownership Interest in a
      Residual Certificate shall agree (A) to obtain a Transfer Affidavit from
      any other Person to whom such Person attempts to Transfer its Ownership
      Interest in a Residual Certificate, (B) to obtain a Transfer Affidavit
      from any Person for whom such Person is acting as nominee, trustee or
      agent in connection with any Transfer of a Residual Certificate and (C)
      not to Transfer its Ownership Interest in a Residual Certificate or to
      cause the Transfer of an Ownership Interest in a Residual Certificate to
      any other Person if it has actual knowledge that such Person is not a
      Permitted Transferee.

            (iv) Any attempted or purported Transfer of any Ownership Interest
      in a Residual Certificate in violation of the provisions of this Section
      5.02(c) shall be absolutely null and void and shall vest no rights in
      the purported Transferee. If any purported transferee shall become a
      Holder of a Residual Certificate in violation of the provisions of this
      Section 5.02(c), then the last preceding Permitted Transferee shall be
      restored to all rights as Holder thereof retroactive to the date of
      registration of Transfer of such Residual Certificate. The Trustee shall
      be under no liability to any Person for any registration of Transfer of
      a Residual Certificate that is in fact not permitted by Section 5.02(b)
      and this Section 5.02(c) or for making any payments due on such
      Certificate to the Holder thereof or taking any other action with
      respect to such Holder under the provisions of this Agreement so long as
      the Transfer was registered after receipt of the related Transfer
      Affidavit and Transferor Certificate. The Trustee shall be entitled but
      not obligated to recover from any Holder of a Residual Certificate that
      was in

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      fact not a Permitted Transferee at the time it became a Holder or, at
      such subsequent time as it became other than a Permitted Transferee, all
      payments made on such Residual Certificate at and after either such
      time. Any such payments so recovered by the Trustee shall be paid and
      delivered by the Trustee to the last preceding Permitted Transferee of
      such Certificate.

            (v) The Depositor shall use its best efforts to make available,
      upon receipt of written request from the Trustee, all information
      necessary to compute any tax imposed under section 860E(e) of the Code
      as a result of a Transfer of an Ownership Interest in a Residual
      Certificate to any Holder who is not a Permitted Transferee.

      The restrictions on Transfers of a Residual Certificate set forth in
this Section 5.02(c) shall cease to apply (and the applicable portions of the
legend on a Residual Certificate may be deleted) with respect to Transfers
occurring after delivery to the Trustee of an Opinion of Counsel, which
Opinion of Counsel shall not be an expense of the Trust Fund, the Trustee, the
Master Servicer or any Seller, to the effect that the elimination of such
restrictions will not cause any REMIC hereunder to fail to qualify as a REMIC
at any time that the Certificates are outstanding or result in the imposition
of any tax on the Trust Fund, a Certificateholder or another Person. Each
Person holding or acquiring any Ownership Interest in a Residual Certificate
hereby consents to any amendment of this Agreement which, based on an Opinion
of Counsel furnished to the Trustee, is reasonably necessary (a) to ensure
that the record ownership of, or any beneficial interest in, a Residual
Certificate is not transferred, directly or indirectly, to a Person that is
not a Permitted Transferee and (b) to provide for a means to compel the
Transfer of a Residual Certificate which is held by a Person that is not a
Permitted Transferee to a Holder that is a Permitted Transferee.

      (d) The preparation and delivery of all certificates and opinions
referred to above in this Section 5.02 in connection with transfer shall be at
the expense of the parties to such transfers.

      (e) Except as provided below, the Book-Entry Certificates shall at all
times remain registered in the name of the Depository or its nominee and at
all times: (i) registration of the Certificates may not be transferred by the
Trustee except to another Depository; (ii) the Depository shall maintain
book-entry records with respect to the Certificate Owners and with respect to
ownership and transfers of such Book-Entry Certificates; (iii) ownership and
transfers of registration of the Book-Entry Certificates on the books of the
Depository shall be governed by applicable rules established by the
Depository; (iv) the Depository may collect its usual and customary fees,
charges and expenses from its Depository Participants; (v) the Trustee shall
deal with the Depository, Depository Participants and indirect participating
firms as representatives of the Certificate Owners of the Book-Entry
Certificates for purposes of exercising the rights of holders under this
Agreement, and requests and directions for and votes of such representatives
shall not be deemed to be inconsistent if they are made with respect to
different Certificate Owners; and (vi) the Trustee may rely and shall be fully
protected in relying upon information furnished by the Depository with respect
to its Depository Participants and furnished by the Depository Participants
with respect to indirect participating firms and persons shown on the books of
such indirect participating firms as direct or indirect Certificate Owners.

      All transfers by Certificate Owners of Book-Entry Certificates shall be
made in accordance with the procedures established by the Depository
Participant or brokerage firm

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representing such Certificate Owner. Each Depository Participant shall only
transfer Book-Entry Certificates of Certificate Owners it represents or of
brokerage firms for which it acts as agent in accordance with the Depository's
normal procedures.

      If (x) (i) the Depository or the Depositor advises the Trustee in
writing that the Depository is no longer willing or able to properly discharge
its responsibilities as Depository, and (ii) the Trustee or the Depositor is
unable to locate a qualified successor or (y) after the occurrence of an Event
of Default, Certificate Owners representing at least 51% of the Certificate
Balance of the Book-Entry Certificates together advise the Trustee and the
Depository through the Depository Participants in writing that the
continuation of a book-entry system through the Depository is no longer in the
best interests of the Certificate Owners, the Trustee shall notify all
Certificate Owners, through the Depository, of the occurrence of any such
event and of the availability of definitive, fully-registered Certificates
(the "Definitive Certificates") to Certificate Owners requesting the same.
Upon surrender to the Trustee of the related Class of Certificates by the
Depository, accompanied by the instructions from the Depository for
registration, the Trustee shall issue the Definitive Certificates. Neither the
Master Servicer, the Depositor nor the Trustee shall be liable for any delay
in delivery of such instruction and each may conclusively rely on, and shall
be protected in relying on, such instructions. The Master Servicer shall
provide the Trustee with an adequate inventory of certificates to facilitate
the issuance and transfer of Definitive Certificates. Upon the issuance of
Definitive Certificates all references in this Agreement to obligations
imposed upon or to be performed by the Depository shall be deemed to be
imposed upon and performed by the Trustee, to the extent applicable with
respect to such Definitive Certificates and the Trustee shall recognize the
Holders of the Definitive Certificates as Certificateholders hereunder;
provided that the Trustee shall not by virtue of its assumption of such
obligations become liable to any party for any act or failure to act of the
Depository.

      SECTION 5.03. Mutilated, Destroyed, Lost or Stolen Certificates.

      If (a) any mutilated Certificate is surrendered to the Trustee, or the
Trustee receives evidence to its satisfaction of the destruction, loss or
theft of any Certificate and (b) there is delivered to the Master Servicer and
the Trustee such security or indemnity as may be required by them to save each
of them harmless, then, in the absence of notice to the Trustee that such
Certificate has been acquired by a bona fide purchaser, the Trustee shall
execute, countersign and deliver, in exchange for or in lieu of any such
mutilated, destroyed, lost or stolen Certificate, a new Certificate of like
Class, tenor and Percentage Interest. In connection with the issuance of any
new Certificate under this Section 5.03, the Trustee may require the payment
of a sum sufficient to cover any tax or other governmental charge that may be
imposed in relation thereto and any other expenses (including the fees and
expenses of the Trustee) connected therewith. Any replacement Certificate
issued pursuant to this Section 5.03 shall constitute complete and
indefeasible evidence of ownership, as if originally issued, whether or not
the lost, stolen or destroyed Certificate shall be found at any time.

      SECTION 5.04. Persons Deemed Owners.

      The Master Servicer, the Trustee and any agent of the Master Servicer or
the Trustee may treat the Person in whose name any Certificate is registered
as the owner of such Certificate for the purpose of receiving distributions as
provided in this Agreement and for all other purposes

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whatsoever, and neither the Master Servicer, the Trustee nor any agent of the
Master Servicer or the Trustee shall be affected by any notice to the
contrary.

      SECTION 5.05. Access to List of Certificateholders' Names and Addresses.

      If three or more Certificateholders and/or Certificate Owners (a)
request such information in writing from the Trustee, (b) state that such
Certificateholders and/or Certificate Owners desire to communicate with other
Certificateholders and/or Certificate Owners with respect to their rights
under this Agreement or under the Certificates, and (c) provide a copy of the
communication which such Certificateholders and/or Certificate Owners propose
to transmit, or if the Depositor or Master Servicer shall request such
information in writing from the Trustee, then the Trustee shall, within ten
Business Days after the receipt of such request, (x) provide the Depositor,
the Master Servicer or such Certificateholders and/or Certificate Owners at
such recipients' expense the most recent list of the Certificateholders of
such Trust Fund held by the Trustee, if any, and (y) assist the Depositor, the
Master Servicer or such Certificateholders and/or Certificate Owners at such
recipients' expense with obtaining from the Depository a list of the related
Depository Participants acting on behalf of Certificate Owners of Book Entry
Certificates. The Depositor and every Certificateholder and Certificate Owner,
by receiving and holding a Certificate or beneficial interest therein, agree
that the Trustee shall not be held accountable by reason of the disclosure of
any such information as to the list of the Certificateholders and/or
Depository Participants hereunder, regardless of the source from which such
information was derived.

      SECTION 5.06. Maintenance of Office or Agency.

      The Trustee will maintain or cause to be maintained at its expense an
office or offices or agency or agencies in New York City where Certificates
may be surrendered for registration of transfer or exchange. The Trustee
initially designates its Corporate Trust Office for such purposes. The Trustee
will give prompt written notice to the Certificateholders of any change in
such location of any such office or agency.

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                                   ARTICLE VI
                      THE DEPOSITOR AND THE MASTER SERVICER

      SECTION 6.01. Respective Liabilities of the Depositor and the Master
Servicer.

      The Depositor and the Master Servicer shall each be liable in accordance
with this Agreement only to the extent of the obligations specifically and
respectively imposed upon and undertaken by them in this Agreement.

      SECTION 6.02. Merger or Consolidation of the Depositor or the Master
Servicer.

      The Depositor will keep in full effect its existence, rights and
franchises as a corporation under the laws of the United States or under the
laws of one of the states thereof and will 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. The Master Servicer will keep in effect its
existence, rights and franchises as a limited partnership under the laws of
the United States or under the laws of one of the states thereof and will
obtain and preserve its qualification or registration to do business as a
foreign partnership in each jurisdiction in which such qualification or
registration 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 the Depositor or the Master Servicer may be merged
or consolidated, or any Person resulting from any merger or consolidation to
which the Depositor or the Master Servicer shall be a party, or any person
succeeding to the business of the Depositor or the Master Servicer, shall be
the successor of the Depositor or the Master Servicer, as the case may be,
hereunder, without the execution or filing of any paper or any further act on
the part of any of the parties hereto, anything in this Agreement to the
contrary notwithstanding; provided, however, that the successor or surviving
Person to the Master Servicer shall be qualified to service mortgage loans on
behalf of, FNMA or FHLMC.

      As a condition to the effectiveness of any merger or consolidation, at
least 15 calendar days prior to the effective date of any merger or
consolidation of the Master Servicer, the Master Servicer shall provide (x)
written notice to the Depositor of any successor pursuant to this Section and
(y) in writing and in form and substance reasonably satisfactory to the
Depositor, all information reasonably requested by the Depositor in order to
comply with its reporting obligation under Item 6.02 of Form 8-K with respect
to a replacement Master Servicer.

      SECTION 6.03. Limitation on Liability of the Depositor, the Sellers, the
Master Servicer and Others.

      None of the Depositor, the Master Servicer or any Seller or any of the
directors, officers, employees or agents of the Depositor, the Master Servicer
or any Seller shall be under any liability to the Certificateholders 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; provided, however, that
this provision shall not protect the Depositor, the Master Servicer, any
Seller or any such Person against any breach of representations or warranties
made by it in this Agreement or

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<PAGE>

protect the Depositor, the Master Servicer, any Seller or any such Person from
any liability which would otherwise be imposed by reasons of willful
misfeasance, bad faith or gross negligence in the performance of duties or by
reason of reckless disregard of obligations and duties hereunder. The
Depositor, the Master Servicer, each Seller and any director, officer,
employee or agent of the Depositor, the Master Servicer or each Seller may
rely in good faith on any document of any kind prima facie properly executed
and submitted by any Person respecting any matters arising under this
Agreement. The Depositor, the Master Servicer, each Seller and any director,
officer, employee or agent of the Depositor, the Master Servicer or any Seller
shall be indemnified by the Trust Fund and held harmless against any loss,
liability or expense incurred in connection with any audit, controversy or
judicial proceeding relating to a governmental taxing authority or any legal
action relating to this Agreement or the Certificates, other than any loss,
liability or expense related to any specific Mortgage Loan or Mortgage Loans
(except as any such loss, liability or expense shall be otherwise reimbursable
pursuant to this Agreement) and any loss, liability or expense incurred by
reason of willful misfeasance, bad faith or gross negligence in the
performance of duties hereunder or by reason of reckless disregard of
obligations and duties hereunder. None of the Depositor, the Master Servicer
or any Seller shall be under any obligation to appear in, prosecute or defend
any legal action that is not incidental to its respective duties hereunder and
which in its opinion may involve it in any expense or liability; provided,
however, that any of the Depositor, the Master Servicer or any Seller may in
its discretion undertake any such action that it may deem necessary or
desirable in respect of this Agreement and the rights and duties of the
parties hereto and interests of the Trustee and the Certificateholders
hereunder. In such event, the legal expenses and costs of such action and any
liability resulting therefrom shall be expenses, costs and liabilities of the
Trust Fund, and the Depositor, the Master Servicer and each Seller shall be
entitled to be reimbursed therefor out of the Certificate Account.

      SECTION 6.04. Limitation on Resignation of Master Servicer.

      The Master Servicer shall not resign from the obligations and duties
hereby imposed on it except (a) upon appointment of a successor servicer and
receipt by the Trustee of a letter from each Rating Agency that such a
resignation and appointment will not result in a downgrade or withdrawal of
the rating of any of the Certificates or (b) upon determination that its
duties hereunder are no longer permissible under applicable law. Any such
determination under clause (b) permitting the resignation of the Master
Servicer shall be evidenced by an Opinion of Counsel to such effect delivered
to the Trustee. No such resignation shall become effective until the Trustee
or a successor master servicer shall have assumed the Master Servicer's
responsibilities, duties, liabilities and obligations under this Agreement and
the Depositor shall have received the information described in the following
sentence. As a condition to the effectiveness of any such resignation, at
least 15 calendar days prior to the effective date of any such resignation,
the Master Servicer shall provide (x) written notice to the Depositor of any
successor pursuant to this Section and (y) in writing and in form and
substance reasonably satisfactory to the Depositor, all information reasonably
requested by the Depositor in order to comply with its reporting obligation
under Item 6.02 of Form 8-K with respect to the resignation of the Master
Servicer.

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                                   ARTICLE VII
                                     DEFAULT

      SECTION 7.01. Events of Default.

      "Event of Default," wherever used in this Agreement, means any one of
the following events:

            (i) any failure by the Master Servicer to deposit in the
      Certificate Account or remit to the Trustee any payment required to be
      made under the terms of this Agreement, which failure shall continue
      unremedied for five days after the date upon which written notice of
      such failure shall have been given to the Master Servicer by the Trustee
      or the Depositor or to the Master Servicer and the Trustee by the
      Holders of Certificates having not less than 25% of the Voting Rights
      evidenced by the Certificates; or

            (ii) any failure by the Master Servicer to observe or perform in
      any material respect any other of the covenants or agreements on the
      part of the Master Servicer contained in this Agreement (except with
      respect to a failure related to a Limited Exchange Act Reporting
      Obligation), which failure materially affects the rights of
      Certificateholders, that failure continues unremedied for a period of 60
      days after the date on which written notice of such failure shall have
      been given to the Master Servicer by the Trustee or the Depositor, or to
      the Master Servicer and the Trustee by the Holders of Certificates
      evidencing not less than 25% of the Voting Rights evidenced by the
      Certificates; provided, however, that the sixty day cure period shall
      not apply to the initial delivery of the Mortgage File for Delay
      Delivery Mortgage Loans or the failure to substitute or repurchase in
      lieu of delivery; or

            (iii) a decree or order of a court or agency or supervisory
      authority having jurisdiction in the premises for the appointment of a
      receiver or liquidator in any insolvency, 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 Master Servicer and such decree or order shall have remained
      in force undischarged or unstayed for a period of 60 consecutive days;
      or

            (iv) the Master Servicer shall consent to the appointment of a
      receiver or liquidator in any insolvency, readjustment of debt,
      marshalling of assets and liabilities or similar proceedings of or
      relating to the Master Servicer or all or substantially all of the
      property of the Master Servicer; or

            (v) the Master Servicer shall admit in writing its inability to
      pay its debts generally as they become due, file a petition to take
      advantage of, or commence a voluntary case under, any applicable
      insolvency or reorganization statute, make an assignment for the benefit
      of its creditors, or voluntarily suspend payment of its obligations; or

            (vi) the Master Servicer shall fail to reimburse in full the
      Trustee within five days of the Master Servicer Advance Date for any
      Advance made by the Trustee pursuant to Section 4.01(b) together with
      accrued and unpaid interest.

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      If (a) an Event of Default described in clauses (i) to (vi) of this
Section shall occur, then, and in each and every such case, so long as such
Event of Default shall not have been remedied, the Trustee may, or (b) an
Event of Default described in clauses (i) to (v) of this Section shall occur,
then, and in each and every such case, so long as such Event of Default shall
not have been remedied, at the direction of the Holders of Certificates
evidencing not less than 66 2/3% of the Voting Rights evidenced by such
Certificates, the Trustee shall by notice in writing to the Master Servicer
(with a copy to each Rating Agency and the Depositor), terminate all of the
rights and obligations of the Master Servicer under this Agreement and in and
to the Mortgage Loans and the proceeds thereof, other than its rights as a
Certificateholder hereunder.

      In addition, if during the period that the Depositor is required to file
Exchange Act Reports with respect to the Trust Fund, the Master Servicer shall
fail to observe or perform any of the obligations that constitute a Limited
Exchange Act Reporting Obligation or the obligations set forth in Section
3.16(a) or Section 11.07(a)(1) and (2), and such failure continues for the
lesser of 10 calendar days or such period in which the applicable Exchange Act
Report can be filed timely (without taking into account any extensions), so
long as such failure shall not have been remedied, the Trustee shall, but only
at the direction of the Depositor, terminate all of the rights and obligations
of the Master Servicer under this Agreement and in and to the Mortgage Loans
and the proceeds thereof, other than its rights as a Certificateholder
hereunder. The Depositor shall not be entitled to terminate the rights and
obligations of the Master Servicer if a failure of the Master Servicer to
identify a Subcontractor "participating in the servicing function" within the
meaning of Item 1122 of Regulation AB was attributable solely to the role or
functions of such Subcontractor with respect to mortgage loans other than the
Mortgage Loans.

      On and after the receipt by the Master Servicer of such written notice,
all authority and power of the Master Servicer hereunder, whether with respect
to the related Mortgage Loans or otherwise, shall pass to and be vested in the
Trustee. The Trustee shall thereupon make any Advance which the Master
Servicer failed to make subject to Section 4.01 whether or not the obligations
of the Master Servicer have been terminated pursuant to this Section. The
Trustee is hereby authorized and empowered to execute and deliver, on behalf
of the Master Servicer, as attorney-in-fact or otherwise, any and all
documents and other instruments, and to 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. Unless expressly
provided in such written notice, no such termination shall affect any
obligation of the Master Servicer to pay amounts owed pursuant to Article
VIII. The Master Servicer agrees to cooperate with the Trustee in effecting
the termination of the Master Servicer's responsibilities and rights
hereunder, including, without limitation, the transfer to the Trustee of all
cash amounts which shall at the time be credited to the Certificate Account,
or thereafter be received with respect to the Mortgage Loans.

      Notwithstanding any termination of the activities of the Master Servicer
hereunder, the Master Servicer shall be entitled to receive, out of any late
collection of a Scheduled Payment on a Mortgage Loan which was due prior to
the notice terminating such Master Servicer's rights and obligations as Master
Servicer hereunder and received after such notice, that portion thereof to
which such Master Servicer would have been entitled pursuant to Sections
3.08(a)(i) through (viii), and any other amounts payable to such Master
Servicer hereunder the entitlement to which arose prior to the termination of
its activities under this Agreement.

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      If the Master Servicer is terminated, the Trustee shall provide the
Depositor in writing and in form and substance reasonably satisfactory to the
Depositor, all information reasonably requested by the Depositor in order to
comply with its reporting obligation under Item 6.02 of Form 8-K with respect
to a successor master servicer in the event the Trustee should succeed to the
duties of the Master Servicer as set forth herein.

      SECTION 7.02. Trustee to Act; Appointment of Successor.

      On and after the time the Master Servicer receives a notice of
termination pursuant to Section 7.01, the Trustee shall, subject to and to the
extent provided in Section 3.04, be the successor to the Master Servicer in
its capacity as master servicer under this Agreement and the transactions set
forth or provided for in this Agreement and shall be subject to all the
responsibilities, duties and liabilities relating thereto placed on the Master
Servicer by the terms and provisions of this Agreement and applicable law
including the obligation to make Advances pursuant to Section 4.01. As
compensation therefor, the Trustee shall be entitled to all funds relating to
the Mortgage Loans that the Master Servicer would have been entitled to charge
to the Certificate Account or Distribution Account if the Master Servicer had
continued to act hereunder. Notwithstanding the foregoing, if the Trustee has
become the successor to the Master Servicer in accordance with Section 7.01,
the Trustee may, if it shall be unwilling to so act, or shall, if it is
prohibited by applicable law from making Advances pursuant to Section 4.01 or
if it is otherwise unable to so act, appoint, or petition a court of competent
jurisdiction to appoint, any established mortgage loan servicing institution
the appointment of which does not adversely affect the then current rating of
the Certificates by each Rating Agency as the successor to the Master Servicer
hereunder in the assumption of all or any part of the responsibilities, duties
or liabilities of the Master Servicer hereunder. Any successor to the Master
Servicer shall be an institution which is a FNMA and FHLMC approved
seller/servicer in good standing, which has a net worth of at least
$15,000,000, and which is willing to service the Mortgage Loans and (i)
executes and delivers to the Depositor and the Trustee an agreement accepting
such delegation and assignment, which contains an assumption by such Person of
the rights, powers, duties, responsibilities, obligations and liabilities of
the Master Servicer (other than liabilities of the Master Servicer under
Section 6.03 incurred prior to termination of the Master Servicer under
Section 7.01), with like effect as if originally named as a party to this
Agreement; and provided further that each Rating Agency acknowledges that its
rating of the Certificates in effect immediately prior to such assignment and
delegation will not be qualified or reduced as a result of such assignment and
delegation and (ii) provides to the Depositor in writing fifteen days prior to
the effective date of such appointment and in form and substance reasonably
satisfactory to the Depositor, all information reasonably requested by the
Depositor in order to comply with its reporting obligation under Item 6.02 of
Form 8-K with respect to a replacement master servicer. The Trustee shall
provide written notice to the Depositor of such successor pursuant to this
Section. Pending appointment of a successor to the Master Servicer hereunder,
the Trustee, unless the Trustee is prohibited by law from so acting, shall,
subject to Section 3.04, act in such capacity as hereinabove provided. In
connection with such appointment and assumption, the Trustee may make such
arrangements for the compensation of such successor out of payments on the
Mortgage Loans as it and such successor shall agree; provided, however, that
no such compensation shall be in excess of the Master Servicing Fee permitted
to be paid to the Master Servicer hereunder. The Trustee and such successor
shall take such action, consistent with this Agreement, as shall be necessary
to effectuate any such succession. Neither the Trustee nor any

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other successor master servicer shall be deemed to be in default hereunder by
reason of any failure to make, or any delay in making, any distribution
hereunder or any portion thereof or any failure to perform, or any delay in
performing, any duties or responsibilities hereunder, in either case caused by
the failure of the Master Servicer to deliver or provide, or any delay in
delivering or providing, any cash, information, documents or records to it.

      Any successor to the Master Servicer as master servicer shall give
notice to the Mortgagors of such change of servicer and shall, during the term
of its service as master servicer maintain in force the policy or policies
that the Master Servicer is required to maintain pursuant to Section 3.09.

      In connection with the termination or resignation of the Master Servicer
hereunder, either (i) the successor Master Servicer, including the Trustee if
the Trustee is acting as successor Master 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 Master Servicer shall cooperate with the successor Master
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 Trustee
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(R) System to the successor Master
Servicer or (y) in causing MERS to designate on the MERS(R) System the
successor Master Servicer as the servicer of such Mortgage Loan. The
predecessor Master Servicer shall file or cause to be filed any such
assignment in the appropriate recording office. The successor Master Servicer
shall cause such assignment to be delivered to the Trustee promptly upon
receipt of the original with evidence of recording thereon or a copy certified
by the public recording office in which such assignment was recorded.

      SECTION 7.03. Notification to Certificateholders.

      (a) Upon any termination of or appointment of a successor to the Master
Servicer, the Trustee shall give prompt written notice thereof to the
Certificateholders and to each Rating Agency.

      (b) Within 60 days after the occurrence of any Event of Default, the
Trustee shall transmit by mail to all Certificateholders notice of each such
Event of Default hereunder known to the Trustee, unless such Event of Default
shall have been cured or waived.

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                                  ARTICLE VIII
                             CONCERNING THE TRUSTEE

      SECTION 8.01. Duties of Trustee.

      The Trustee, prior to the occurrence of an Event of Default and after
the curing of all Events of Default that may have occurred, shall undertake to
perform such duties and only such duties as are specifically set forth in this
Agreement. In case an Event of Default has occurred and remains uncured, the
Trustee shall exercise such of the rights and powers vested in it by this
Agreement, and use the same degree of care and skill in their exercise as a
prudent person would exercise or use under the circumstances in the conduct of
such person's own affairs.

      The Trustee, upon receipt of all resolutions, certificates, statements,
opinions, reports, documents, orders or other instruments furnished to the
Trustee that are specifically required to be furnished pursuant to any
provision of this Agreement shall examine them to determine whether they are
in the form required by this Agreement; provided, however, that the Trustee
shall not be responsible for the accuracy or content of any such resolution,
certificate, statement, opinion, report, document, order or other instrument.

      No provision of this Agreement shall be construed to relieve the Trustee
from liability for its own negligent action, its own negligent failure to act
or its own willful misconduct; provided, however, that:

            (i) unless an Event of Default known to the Trustee shall have
      occurred and be continuing, the duties and obligations of the Trustee
      shall be determined solely by the express provisions of this Agreement,
      the Trustee shall not be liable except for the performance of such
      duties and obligations as are specifically set forth in this Agreement,
      no implied covenants or obligations shall be read into this Agreement
      against the Trustee and the Trustee may conclusively rely, as to the
      truth of the statements and the correctness of the opinions expressed
      therein, upon any certificates or opinions furnished to the Trustee and
      conforming to the requirements of this Agreement which it believed in
      good faith to be genuine and to have been duly executed by the proper
      authorities respecting any matters arising hereunder;

            (ii) the Trustee shall not be liable for an error of judgment made
      in good faith by a Responsible Officer or Responsible Officers of the
      Trustee, unless it shall be finally proven that the Trustee was
      negligent in ascertaining the pertinent facts;

            (iii) the Trustee shall not be liable with respect to any action
      taken, suffered or omitted to be taken by it in good faith in accordance
      with the direction of Holders of Certificates evidencing not less than
      25% of the Voting Rights of Certificates relating to the time, method
      and place of conducting any proceeding for any remedy available to the
      Trustee, or exercising any trust or power conferred upon the Trustee
      under this Agreement; and

            (iv) without in any way limiting the provisions of this Section
      8.01 or Section 8.02, the Trustee shall be entitled to rely conclusively
      on the information delivered to it

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      by the Master Servicer in a Trustee Advance Notice in determining
      whether it is required to make an Advance under Section 4.01(b), shall
      have no responsibility to ascertain or confirm any information contained
      in any Trustee Advance Notice, and shall have no obligation to make any
      Advance under Section 4.01(b) in the absence of a Trustee Advance Notice
      or actual knowledge of a Responsible Officer of the Trustee that (A)
      such Advance was not made by the Master Servicer and (B) such Advance is
      not a Nonrecoverable Advance.

      The Trustee hereby represents, warrants, covenants and agrees that,
except as permitted by Article IX hereof, it shall not cause the Trust Fund to
consolidate or amalgamate with, or merge with or into, or transfer all or
substantially all of the Trust Fund to, another Person.

      SECTION 8.02. Certain Matters Affecting the Trustee.

      Except as otherwise provided in Section 8.01:

            (i) the Trustee may request and rely upon and shall be protected
      in acting or refraining from acting upon any resolution, Officers'
      Certificate, certificate of auditors or any other certificate,
      statement, instrument, opinion, report, notice, request, consent, order,
      appraisal, bond or other paper or document believed by it to be genuine
      and to have been signed or presented by the proper party or parties and
      the Trustee shall have no responsibility to ascertain or confirm the
      genuineness of any signature of any such party or parties;

            (ii) the Trustee may consult with counsel, financial advisers or
      accountants of its selection and the advice of any such counsel,
      financial advisers or accountants and any Opinion of Counsel shall be
      full and complete authorization and protection in respect of any action
      taken or suffered or omitted by it hereunder in good faith and in
      accordance with such Opinion of Counsel;

            (iii) the Trustee shall not be liable for any action taken,
      suffered or omitted by it in good faith and believed by it to be
      authorized or within the discretion or rights or powers conferred upon
      it by this Agreement;

            (iv) the Trustee shall not be bound to make any investigation into
      the facts or matters stated in any resolution, certificate, statement,
      instrument, opinion, report, notice, request, consent, order, approval,
      bond or other paper or document, unless requested in writing so to do by
      Holders of Certificates evidencing not less than 25% of the Voting
      Rights allocated to each Class of Certificates;

            (v) the Trustee may execute any of the trusts or powers hereunder
      or perform any duties hereunder either directly or by or through agents,
      accountants or attorneys;

            (vi) the Trustee shall not be required to risk or expend its own
      funds or otherwise incur any financial liability in the performance of
      any of its duties or in the exercise of any of its rights or powers
      hereunder if it shall have reasonable grounds for

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      believing that repayment of such funds or adequate indemnity against
      such risk or liability is not assured to it;

            (vii) the Trustee shall not be liable for any loss on any
      investment of funds pursuant to this Agreement (other than as issuer of
      the investment security);

            (viii) the Trustee shall not be deemed to have knowledge of an
      Event of Default until a Responsible Officer of the Trustee shall have
      received written notice thereof; and

            (ix) the Trustee shall be under no obligation to exercise any of
      the trusts, rights or powers vested in it by this Agreement or to
      institute, conduct or defend any litigation hereunder or in relation
      hereto at the request, order or direction of any of the
      Certificateholders, pursuant to the provisions of this Agreement, unless
      such Certificateholders shall have offered to the Trustee reasonable
      security or indemnity satisfactory to the Trustee against the costs,
      expenses and liabilities which may be incurred therein or thereby.

            The Depositor hereby directs the Trustee to execute, deliver and
perform its obligations under the Swap Contract Administration Agreement (in
its capacity as Swap Trustee). The Sellers, the Depositor, the Master Servicer
and the Holders of the Certificates by their acceptance of such Certificates
acknowledge and agree that the Trustee shall execute, deliver and perform its
obligations under the Swap Contract Administration Agreement and shall do so
solely in its capacity as Swap Trustee, as the case may be, and not in its
individual capacity. Every provision of this Agreement relating to the conduct
or affecting the liability of or affording protection to the Trustee shall
apply to the Trustee's execution of the Swap Contract Administration Agreement
in its capacity as Swap Trustee, and the performance of its duties and
satisfaction of its obligations thereunder.

      SECTION 8.03. Trustee Not Liable for Certificates or Mortgage Loans.

      The recitals contained in this Agreement and in the Certificates shall
be taken as the statements of the Depositor or a Seller, as the case may be,
and the Trustee assumes no responsibility for their correctness. The Trustee
makes no representations as to the validity or sufficiency of this Agreement
or of the Certificates or of any Mortgage Loan or related document or of MERS
or the MERS(R) System other than with respect to the Trustee's execution and
counter-signature of the Certificates. The Trustee shall not be accountable
for the use or application by the Depositor or the Master Servicer of any
funds paid to the Depositor or the Master Servicer in respect of the Mortgage
Loans or deposited in or withdrawn from the Certificate Account by the
Depositor or the Master Servicer.

      SECTION 8.04. Trustee May Own Certificates.

      The Trustee in its individual or any other capacity may become the owner
or pledgee of Certificates with the same rights as it would have if it were
not the Trustee.

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      SECTION 8.05. Trustee's Fees and Expenses.

      The Trustee, as compensation for its activities hereunder, shall be
entitled to withdraw from the Distribution Account on each Distribution Date
an amount equal to the Trustee Fee for such Distribution Date. The Trustee and
any director, officer, employee or agent of the Trustee shall be indemnified
by the Master Servicer and held harmless against any loss, liability or
expense (including reasonable attorney's fees and expenses) (i) incurred in
connection with any claim or legal action relating to (a) this Agreement, (b)
the Certificates or (c) in connection with the performance of any of the
Trustee's duties hereunder, other than any loss, liability or expense incurred
by reason of willful misfeasance, bad faith or negligence in the performance
of any of the Trustee's duties hereunder or incurred by reason of any action
of the Trustee taken at the direction of the Certificateholders or (ii)
resulting from any error in any tax or information return prepared by the
Master Servicer. Such indemnity shall survive the termination of this
Agreement or the resignation or removal of the Trustee hereunder. Without
limiting the foregoing, the Master Servicer covenants and agrees, except as
otherwise agreed upon in writing by the Depositor and the Trustee, and except
for any such expense, disbursement or advance as may arise from the Trustee's
negligence, bad faith or willful misconduct, to pay or reimburse the Trustee,
for all reasonable expenses, disbursements and advances incurred or made by
the Trustee in accordance with any of the provisions of this Agreement with
respect to: (A) the reasonable compensation and the expenses and disbursements
of its counsel not associated with the closing of the issuance of the
Certificates, (B) the reasonable compensation, expenses and disbursements of
any accountant, engineer or appraiser that is not regularly employed by the
Trustee, to the extent that the Trustee must engage such persons to perform
acts or services hereunder and (C) printing and engraving expenses in
connection with preparing any Definitive Certificates. Except as otherwise
provided in this Agreement, the Trustee shall not be entitled to payment or
reimbursement for any routine ongoing expenses incurred by the Trustee in the
ordinary course of its duties as Trustee, Registrar, Tax Matters Person or
Paying Agent hereunder or for any other expenses.

      SECTION 8.06. Eligibility Requirements for Trustee.

      The Trustee hereunder shall at all times be a corporation or association
organized and doing business under the laws of a state or the United States of
America, authorized under such laws to exercise corporate trust powers, having
a combined capital and surplus of at least $50,000,000, subject to supervision
or examination by federal or state authority and with a credit rating which
would not cause either of the Rating Agencies to reduce or withdraw their
respective then current ratings of the Certificates (or having provided such
security from time to time as is sufficient to avoid such reduction) as
evidenced in writing by each Rating Agency. If such corporation or association
publishes reports of condition at least annually, pursuant to law or to the
requirements of the aforesaid supervising or examining authority, then for the
purposes of this Section 8.06 the combined capital and surplus of such
corporation or association shall be deemed to be its combined capital and
surplus as set forth in its most recent report of condition so published. In
case at any time the Trustee shall cease to be eligible in accordance with the
provisions of this Section 8.06, the Trustee shall resign immediately in the
manner and with the effect specified in Section 8.07. The entity serving as
Trustee may have normal banking and trust relationships with the Depositor and
its affiliates or the Master Servicer and its affiliates; provided, however,
that such entity cannot be an affiliate of the Master Servicer other than the
Trustee in its role as successor to the Master Servicer.

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      SECTION 8.07. Resignation and Removal of Trustee.

      The Trustee may at any time resign and be discharged from the trusts
hereby created by giving written notice of resignation to the Depositor, the
Master Servicer and each Rating Agency not less than 60 days before the date
specified in such notice when, subject to Section 8.08, such resignation is to
take effect, and acceptance by a successor trustee in accordance with Section
8.08 meeting the qualifications set forth in Section 8.06. If no successor
trustee meeting such qualifications shall have been so appointed and have
accepted appointment within 30 days after the giving of such notice or
resignation, the resigning Trustee may petition any court of competent
jurisdiction for the appointment of a successor trustee.

      As a condition to the effectiveness of any such resignation, at least 15
calendar days prior to the effective date of such resignation, the Trustee
shall provide (x) written notice to the Depositor of any successor pursuant to
this Section and (y) in writing and in form and substance reasonably
satisfactory to the Depositor, all information reasonably requested by the
Depositor in order to comply with its reporting obligation under Item 6.02 of
Form 8-K with respect to the resignation of the Trustee.

      If at any time (i) the Trustee shall cease to be eligible in accordance
with the provisions of Section 8.06 and shall fail to resign after written
request thereto by the Depositor, (ii) the Trustee shall become incapable of
acting, or shall be adjudged as bankrupt or insolvent, or a receiver of the
Trustee or of its property shall be appointed, or any public officer shall
take charge or control of the Trustee or of its property or affairs for the
purpose of rehabilitation, conservation or liquidation, (iii) a tax is imposed
with respect to the Trust Fund by any state in which the Trustee or the Trust
Fund is located and the imposition of such tax would be avoided by the
appointment of a different trustee, or (iv) during the period that the
Depositor is required to file Exchange Act Reports with respect to the Trust
Fund, the Trustee fails to comply with its obligations under the last sentence
of Section 7.01, the preceding paragraph, Section 8.09 or Article XI and such
failure is not remedied within the lesser of 10 calendar days or such period
in which the applicable Exchange Act Report can be filed timely (without
taking into account any extensions), then, in the case of clauses (i) through
(iii), the Depositor or the Master Servicer, or in the case of clause (iv),
the Depositor, may remove the Trustee and appoint a successor trustee by
written instrument, in triplicate, one copy of which instrument shall be
delivered to the Trustee, one copy of which shall be delivered to the Master
Servicer and one copy to the successor trustee.

      The Holders of Certificates entitled to at least 51% of the Voting
Rights may at any time remove the Trustee and appoint a successor trustee by
written instrument or instruments, in triplicate, signed by such Holders or
their attorneys-in-fact duly authorized, one complete set of which instruments
shall be delivered by the successor Trustee to the Master Servicer, one
complete set to the Trustee so removed, one complete set to the successor so
appointed and one complete set to the Depositor, together with a written
description of the basis for such removal. Notice of any removal of the
Trustee shall be given to each Rating Agency by the successor trustee.

      Any resignation or removal of the Trustee and appointment of a successor
trustee pursuant to any of the provisions of this Section 8.07 shall become
effective upon acceptance of appointment by the successor trustee as provided
in Section 8.08.

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      SECTION 8.08. Successor Trustee.

      Any successor trustee appointed as provided in Section 8.07 shall
execute, acknowledge and deliver to the Depositor and to its predecessor
trustee and the Master Servicer an instrument accepting such appointment
hereunder and thereupon the resignation or removal of the predecessor trustee
shall become effective and such successor trustee, without any further act,
deed or conveyance, shall become fully vested with all the rights, powers,
duties and obligations of its predecessor hereunder, with the like effect as
if originally named as trustee in this Agreement. The Depositor, the Master
Servicer and the predecessor trustee shall execute and deliver such
instruments and do such other things as may reasonably be required for more
fully and certainly vesting and confirming in the successor trustee all such
rights, powers, duties, and obligations. In addition, if the Swap Contract is
still outstanding, the Person appointed as successor trustee shall execute,
acknowledge and deliver to the predecessor trustee, Countrywide and the Master
Servicer an instrument accepting the appointment as successor Swap Contract
Administrator under the Swap Contract Administration Agreement.

      No successor trustee shall accept appointment as provided in this
Section 8.08 unless at the time of such acceptance such successor trustee
shall be eligible under the provisions of Section 8.06 and its appointment
shall not adversely affect the then current rating of the Certificates and has
provided to the Depositor in writing and in form and substance reasonably
satisfactory to the Depositor, all information reasonably requested by the
Depositor in order to comply with its reporting obligation under Item 6.02 of
Form 8-K with respect to a replacement Trustee.

      Upon acceptance of appointment by a successor trustee as provided in
this Section 8.08, the Depositor shall mail notice of the succession of such
trustee hereunder to all Holders of Certificates. If the Depositor fails to
mail such notice within 10 days after acceptance of appointment by the
successor trustee, the successor trustee shall cause such notice to be mailed
at the expense of the Depositor.

      SECTION 8.09. Merger or Consolidation of Trustee.

      Any corporation into which the Trustee may be merged or converted or
with which it may be consolidated or any corporation resulting from any
merger, conversion or consolidation to which the Trustee shall be a party, or
any corporation succeeding to the business of the Trustee, shall be the
successor of the Trustee hereunder, provided that such corporation shall be
eligible under the provisions of Section 8.06 without the execution or filing
of any paper or further act on the part of any of the parties hereto, anything
in this Agreement to the contrary notwithstanding.

      As a condition to the effectiveness of any merger or consolidation, at
least 15 calendar days prior to the effective date of any merger or
consolidation of the Trustee, the Trustee shall provide (x) written notice to
the Depositor of any successor pursuant to this Section and (y) in writing and
in form and substance reasonably satisfactory to the Depositor, all
information reasonably requested by the Depositor in order to comply with its
reporting obligation under Item 6.02 of Form 8-K with respect to a replacement
Trustee.

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      SECTION 8.10. Appointment of Co-Trustee or Separate Trustee.

      Notwithstanding any other provisions of this Agreement, at any time, for
the purpose of meeting any legal requirements of any jurisdiction in which any
part of the Trust Fund or property securing any Mortgage Note may at the time
be located, the Master Servicer and the Trustee acting jointly shall have the
power and shall execute and deliver all instruments to appoint one or more
Persons approved by the Trustee to act as co-trustee or co-trustees jointly
with the Trustee, or separate trustee or separate trustees, of all or any part
of the Trust Fund, and to vest in such Person or Persons, in such capacity and
for the benefit of the Certificateholders, such title to the Trust Fund or any
part thereof, whichever is applicable, and, subject to the other provisions of
this Section 8.10, such powers, duties, obligations, rights and trusts as the
Master Servicer and the Trustee may consider necessary or desirable. If the
Master Servicer shall not have joined in such appointment within 15 days after
the receipt by it of a request to do so, or in the case an Event of Default
shall have occurred and be continuing, the Trustee alone shall have the power
to make such appointment. No co-trustee or separate trustee hereunder shall be
required to meet the terms of eligibility as a successor trustee under Section
8.06 and no notice to Certificateholders of the appointment of any co-trustee
or separate trustee shall be required under Section 8.08.

      Every separate trustee and co-trustee shall, to the extent permitted by
law, be appointed and act subject to the following provisions and conditions:

            (i) To the extent necessary to effectuate the purposes of this
      Section 8.10, all rights, powers, duties and obligations conferred or
      imposed upon the Trustee, except for the obligation of the Trustee under
      this Agreement to advance funds on behalf of the Master Servicer, shall
      be conferred or imposed upon and exercised or performed by the Trustee
      and such separate trustee or co-trustee jointly (it being understood
      that such separate trustee or co-trustee is not authorized to act
      separately without the Trustee joining in such act), except to the
      extent that under any law of any jurisdiction in which any particular
      act or acts are to be performed (whether as Trustee hereunder or as
      successor to the Master Servicer hereunder), the Trustee shall be
      incompetent or unqualified to perform such act or acts, in which event
      such rights, powers, duties and obligations (including the holding of
      title to the applicable Trust Fund or any portion thereof in any such
      jurisdiction) shall be exercised and performed singly by such separate
      trustee or co-trustee, but solely at the direction of the Trustee;

            (ii) No trustee hereunder shall be held personally liable by
      reason of any act or omission of any other trustee hereunder and such
      appointment shall not, and shall not be deemed to, constitute any such
      separate trustee or co-trustee as agent of the Trustee;

            (iii) The Trustee may at any time accept the resignation of or
      remove any separate trustee or co-trustee; and

            (iv) The Master Servicer, and not the Trustee, shall be liable for
      the payment of reasonable compensation, reimbursement and
      indemnification to any such separate trustee or co-trustee.

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      Any notice, request or other writing given to the Trustee shall be
deemed to have been given to each of the separate trustees and co-trustees,
when and as effectively as if given to each of them. Every instrument
appointing any separate trustee or co-trustee shall refer to this Agreement
and the conditions of this Article VIII. Each separate trustee and co-trustee,
upon its acceptance of the trusts conferred, shall be vested with the estates
or property specified in its instrument of appointment, either jointly with
the Trustee or separately, as may be provided therein, subject to all the
provisions of this Agreement, specifically including every provision of this
Agreement relating to the conduct of, affecting the liability of, or affording
protection to, the Trustee. Every such instrument shall be filed with the
Trustee and a copy thereof given to the Master Servicer and the Depositor.

      Any separate trustee or co-trustee may, at any time, constitute the
Trustee its agent or attorney-in-fact, with full power and authority, to the
extent not prohibited by law, to do any lawful act under or in respect of this
Agreement on its behalf and in its name. If any separate trustee or co-trustee
shall die, become incapable of acting, resign or be removed, all of its
estates, properties, rights, remedies and trusts shall vest in and be
exercised by the Trustee, to the extent permitted by law, without the
appointment of a new or successor trustee.

      SECTION 8.11. Tax Matters.

            It is intended that the assets with respect to which any REMIC
election is to be made, as set forth in the Preliminary Statement, shall
constitute, and that the conduct of matters relating to such assets shall be
such as to qualify such assets as, a "real estate mortgage investment conduit"
as defined in and in accordance with the REMIC Provisions. In furtherance of
such intention, the Trustee covenants and agrees that it shall act as agent
(and the Trustee is hereby appointed to act as agent) on behalf of any such
REMIC and that in such capacity it shall: (a) prepare and file, or cause to be
prepared and filed, in a timely manner, a U.S. Real Estate Mortgage Investment
Conduit Income Tax Return (Form 1066 or any successor form adopted by the
Internal Revenue Service) and prepare and file or cause to be prepared and
filed with the Internal Revenue Service and applicable state or local tax
authorities income tax or information returns for each taxable year with
respect to any such REMIC, containing such information and at the times and in
the manner as may be required by the Code or state or local tax laws,
regulations, or rules, and furnish or cause to be furnished to
Certificateholders the schedules, statements or information at such times and
in such manner as may be required thereby; (b) within thirty days of the
Closing Date, furnish or cause to be furnished to the Internal Revenue
Service, on Forms 8811 or as otherwise may be required by the Code, the name,
title, address, and telephone number of the person that the holders of the
Certificates may contact for tax information relating thereto, together with
such additional information as may be required by such Form, and update such
information at the time or times in the manner required by the Code; (c) make
or cause to be made elections that such assets be treated as a REMIC on the
federal tax return for its first taxable year (and, if necessary, under
applicable state law); (d) prepare and forward, or cause to be prepared and
forwarded, to the Certificateholders and to the Internal Revenue Service and,
if necessary, state tax authorities, all information returns and reports as
and when required to be provided to them in accordance with the REMIC
Provisions, including without limitation, the calculation of any original
issue discount using the Prepayment Assumption; (e) provide information
necessary for the computation of tax imposed on the transfer of a Residual
Certificate to a Person that is not a Permitted Transferee, or an agent
(including a broker, nominee or other middleman) of a Non-Permitted
Transferee, or a pass-

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through entity in which a Non-Permitted Transferee is the record holder of an
interest (the reasonable cost of computing and furnishing such information may
be charged to the Person liable for such tax); (f) to the extent that they are
under its control conduct matters relating to such assets at all times that
any Certificates are outstanding so as to maintain the status as a REMIC under
the REMIC Provisions; (g) not knowingly or intentionally take any action or
omit to take any action that would cause the termination of the tax status of
any REMIC; (h) pay, from the sources specified in the third paragraph of this
Section 8.11, the amount of any federal or state tax, including prohibited
transaction taxes as described below, imposed on any such REMIC prior to its
termination when and as the same shall be due and payable (but such obligation
shall not prevent the Trustee or any other appropriate Person from contesting
any such tax in appropriate proceedings and shall not prevent the Trustee from
withholding payment of such tax, if permitted by law, pending the outcome of
such proceedings); (i) ensure that federal, state or local income tax or
information returns shall be signed by the Trustee or such other person as may
be required to sign such returns by the Code or state or local laws,
regulations or rules; (j) maintain records relating to any such REMIC,
including but not limited to the income, expenses, assets and liabilities
thereof and the fair market value and adjusted basis of the assets determined
at such intervals as may be required by the Code, as may be necessary to
prepare the foregoing returns, schedules, statements or information; and (k)
as and when necessary and appropriate, represent any such REMIC in any
administrative or judicial proceedings relating to an examination or audit by
any governmental taxing authority, request an administrative adjustment as to
any taxable year of any such REMIC, enter into settlement agreements with any
governmental taxing agency, extend any statute of limitations relating to any
tax item of any such REMIC, and otherwise act on behalf of any such REMIC in
relation to any tax matter or controversy involving it.

            In order to enable the Trustee to perform its duties as set forth
in this Agreement, the Depositor shall provide, or cause to be provided, to
the Trustee within ten (10) days after the Closing Date all information or
data that the Trustee requests in writing and determines to be relevant for
tax purposes to the valuations and offering prices of the Certificates,
including, without limitation, the price, yield, prepayment assumption and
projected cash flows of the Certificates and the Mortgage Loans. Thereafter,
the Depositor shall provide to the Trustee promptly upon written request
therefor, any such additional information or data that the Trustee may, from
time to time, reasonably request in order to enable the Trustee to perform its
duties as set forth in this Agreement. The Depositor hereby indemnifies the
Trustee for any losses, liabilities, damages, claims or expenses of the
Trustee arising from any errors or miscalculations of the Trustee that result
from any failure of the Depositor to provide, or to cause to be provided,
accurate information or data to the Trustee on a timely basis.

            In the event that any tax is imposed on "prohibited transactions"
of any REMIC hereunder as defined in section 860F(a)(2) of the Code, on the
"net income from foreclosure property" of such REMIC as defined in section
860G(c) of the Code, on any contribution to any REMIC hereunder after the
Startup Day pursuant to section 860G(d) of the Code, or any other tax is
imposed, including, without limitation, any minimum tax imposed upon any REMIC
hereunder pursuant to sections 23153 and 24874 of the California Revenue and
Taxation Code, if not paid as otherwise provided for herein, such tax shall be
paid by (i) the Trustee, if any such other tax arises out of or results from a
breach by the Trustee of any of its obligations under this Agreement, (ii) the
Master Servicer, in the case of any such minimum tax, or if such tax arises

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out of or results from a breach by the Master Servicer or a Seller of any of
their obligations under this Agreement, (iii) any Seller, if any such tax
arises out of or results from that Seller's obligation to repurchase a
Mortgage Loan pursuant to Section 2.02 or 2.03 or (iv) in all other cases, or
in the event that the Trustee, the Master Servicer or any Seller fails to
honor its obligations under the preceding clauses (i), (ii) or (iii), any such
tax will be paid with amounts otherwise to be distributed to the
Certificateholders, as provided in Section 3.08(b).

            For federal income tax purposes, the Trustee shall treat the
following items as specified. The Trustee shall treat each of the Carryover
Shortfall Reserve Fund and the Swap Trust (including the Swap Account) as an
outside reserve fund within the meaning of Treasury Regulation 1.860G-2(h),
neither of which is an asset of any REMIC created hereunder. The Carryover
Shortfall Reserve Fund and the Swap Trust (including the Swap Account) shall
be treated as owned by the Holders of the Component Certificates. The Trustee
shall treat the rights and deemed obligations of the Holders of the LIBOR
Certificates and the Component Certificates with respect to the Carryover
Shortfall Reserve Fund as rights and obligations with respect to a notional
principal contract written by the Holders of the Component Certificates in
respect of any Carryover Shortfall Amounts distributed pursuant to Section
4.02(a)(4) herein. Thus, the LIBOR Certificates and the Component Certificates
shall be treated as representing ownership of Master REMIC regular interests
coupled with contractual rights and obligations within the meaning of Treasury
Regulation 1.860G-2(i). For purposes of determining the issue price of the
LIBOR Certificates, the Trustee shall assume that the position of the
Component Certificates in such notional principal contract has a value of
$1,000 and that the Swap Contract was acquired without either the Component
Certificateholders or the Swap Counterparty making any lump sum payment to the
other. To the extent the amount payable with respect to the Swap Contract
exceeds the amount payable with respect to the Component Certificates, the
Trustee, for federal income tax purposes, shall treat such excess as Realized
Losses from the Mortgage Loans and to the extent such Realized Losses (if they
had occurred) would be allocated to a Certificateholder, the Trustee shall
treat such amount as first payable to the Certificateholder as principal and
as then payable by the Certificateholder with respect to a notional principal
contract.

      SECTION 8.12. Monitoring of Significance Percentage.

            With respect to each Distribution Date, the Trustee shall
calculate the "significance percentage" (as defined in Item 1115 of Regulation
AB) of each derivative instrument, if any, based on the aggregate Class
Certificate Balance of the related Classes of Swap Certificates for such
derivative instrument and Distribution Date (after all distributions to be
made thereon on such Distribution Date) and based on the methodology provided
in writing by or on behalf of Countrywide no later than the fifth Business Day
preceding such Distribution Date. On each Distribution Date, the Trustee shall
provide to Countrywide a written report (which written report may include
similar information with respect to other derivative instruments relating to
securitization transactions sponsored by Countrywide) specifying the
"significance percentage" of each derivative instrument, if any, for that
Distribution Date. If the "significance percentage" of any derivative
instrument exceeds 7.0% with respect to any Distribution Date, the Trustee
shall make a separate notation thereof in the written report described in the
preceding sentence. Such written report may contain such assumptions and
disclaimers as are deemed necessary and appropriate by the Trustee.

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                                   ARTICLE IX
                                   TERMINATION

      SECTION 9.01. Termination upon Liquidation or Purchase of all Mortgage
Loans.

      Subject to Section 9.03, the obligations and responsibilities of the
Depositor, the Sellers, the Master Servicer and the Trustee created hereby
with respect to the Trust Fund shall terminate upon the earlier of: (a) the
purchase by the Master Servicer of all Mortgage Loans (and REO Properties)
remaining in the Trust Fund at the price equal to the sum of (i) 100% of the
Stated Principal Balance of each Mortgage Loan plus one month's accrued
interest thereon at the applicable Adjusted Mortgage Rate, (ii) the lesser of
(x) the appraised value of any REO Property as determined by the higher of two
appraisals completed by two independent appraisers selected by the Master
Servicer at the expense of the Master Servicer and (y) the Stated Principal
Balance of each Mortgage Loan related to any REO Property, and (iii) any
remaining unpaid costs and damages incurred by the Trust Fund that arise out
of an actual violation of any predatory or abusive lending law that also
constitutes an actual breach of clause (50) on Schedule III-A, in all cases
plus accrued and unpaid interest thereon at the applicable Adjusted Mortgage
Rate; and (b) the later of (i) the maturity or other liquidation (or any
Advance with respect thereto) of the last Mortgage Loan remaining in the Trust
Fund and the disposition of all REO Property in and (ii) the distribution to
the Certificateholders of all amounts required to be distributed to them
pursuant to this Agreement. In no event shall the trusts created hereby
continue beyond the earlier of (i) the expiration of 21 years from the death
of the survivor of the descendants of Joseph P. Kennedy, the late Ambassador
of the United States to the Court of St. James's, living on the date hereof
and (ii) the Latest Possible Maturity Date.

      The Master Servicer shall have the right to purchase all Mortgage Loans
and REO Properties in the Trust Fund pursuant to clause (a) in the preceding
paragraph of this Section 9.01 only on or after the Optional Termination Date.

      The Swap Trust shall terminate on the earliest of (i) the Swap Contract
Termination Date, (ii) the reduction of the aggregate Class Certificate
Balance of the LIBOR Certificates and Class X-P Certificates to zero and (iii)
the termination of this Agreement.

      SECTION 9.02. Final Distribution on the Certificates.

      If on any Determination Date, the Master Servicer determines that there
are no Outstanding Mortgage Loans and no other funds or assets in the Trust
Fund other than the funds in the Certificate Account, the Master Servicer
shall direct the Trustee promptly to send a final distribution notice to each
Certificateholder. If the Master Servicer elects to terminate the Trust Fund
pursuant to Section 9.01, at least 20 days prior to the date notice is to be
mailed to the Certificateholders, the Master Servicer shall notify the
Depositor and the Trustee of the date the Master Servicer intends to cause a
termination pursuant to Section 9.01 and of the applicable repurchase price of
the Mortgage Loans and REO Properties.

      Notice of any termination of the Trust Fund, specifying the Distribution
Date on which Certificateholders may surrender their Certificates for payment
of the final distribution and

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cancellation, shall be given promptly by the Trustee by letter to
Certificateholders mailed not earlier than the 10th day and no later than the
15th day of the month next preceding the month of such final distribution. Any
such notice shall specify (a) the Distribution Date upon which final
distribution on the Certificates will be made upon presentation and surrender
of Certificates at the office therein designated, (b) the amount of such final
distribution, (c) the location of the office or agency at which such
presentation and surrender must be made, and (d) that the Record Date
otherwise applicable to such Distribution Date is not applicable,
distributions being made only upon presentation and surrender of the
Certificates at the office therein specified. The Master Servicer will give
such notice to each Rating Agency and the Swap Counterparty at the time such
notice is given to the Certificateholders.

      In the event such notice is given, the Master Servicer shall cause all
related funds in the Certificate Account to be remitted to the Trustee for
deposit in the Distribution Account on or before the Business Day prior to the
applicable Distribution Date in an amount equal to the final distribution in
respect of the Certificates. Upon such final deposit with respect to the
Mortgage Loans and REO Properties and the receipt by the Trustee of a Request
for Release therefor, the Trustee shall promptly release to the Master
Servicer the Mortgage Files for the Mortgage Loans.

      Upon presentation and surrender of the Certificates, the Trustee shall
cause to be distributed to the Certificateholders of each Class, in each case
on the final Distribution Date and in the order set forth in Section 4.02, in
proportion to their respective Percentage Interests, with respect to
Certificateholders of the same Class, an amount equal to (i) as to each Class
of Regular Certificates, the Certificate Balance thereof plus accrued interest
thereon (or on their Notional Amount, if applicable) in the case of an
interest -bearing Certificate and (ii) as to the Residual Certificates, the
amount, if any, which remains on deposit in the Distribution Account (other
than the amounts retained to meet claims) after application pursuant to clause
(i) above. Notwithstanding the reduction of the Class Certificate Balance of
any Class of Certificates to zero, such Class will be outstanding hereunder
(solely for the purpose of receiving distributions and not for any other
purpose) until the termination of the respective obligations and
responsibilities of the Depositor, each Seller, the Master Servicer and the
Trustee hereunder in accordance with Article IX.

      In the event that any Certificateholders shall not surrender
Certificates for cancellation within six months after the date specified in
the above mentioned written notice, the Trustee shall give a second written
notice to the remaining Certificateholders to surrender their Certificates for
cancellation and receive the final distribution with respect thereto. If
within six months after the second notice all the applicable Certificates
shall not have been surrendered for cancellation, the Trustee may take
appropriate steps, or may appoint an agent to take appropriate steps, to
contact the remaining Certificateholders concerning surrender of their
Certificates, and the cost thereof shall be paid out of the funds and other
assets which remain a part of the Trust Fund. If within one year after the
second notice all Certificates shall not have been surrendered for
cancellation, the Class A-R Certificateholders shall be entitled to all
unclaimed funds and other assets of the Trust Fund which remain subject to
this Agreement.

      SECTION 9.03. Additional Termination Requirements.

      (a) In the event the Master Servicer exercises its purchase option or
options as provided in Section 9.01, the Mortgage Loans and REO Properties
then remaining in the Trust Fund shall

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be terminated in accordance with the following additional requirements, unless
the Trustee has been supplied with an Opinion of Counsel, at the expense of
the Master Servicer to the effect that the failure to comply with the
requirements of this Section 9.03 will not (i) result in the imposition of
taxes on "prohibited transactions" on any REMIC as defined in section 860F of
the Code, or (ii) cause any REMIC to fail to qualify as a REMIC at any time
that any Certificates are outstanding:

                  (1) Within 90 days prior to the final Distribution Date set
      forth in the notice given by the Master Servicer under Section 9.02, the
      Master Servicer shall prepare and the Trustee, at the expense of the
      "tax matters person," shall adopt a plan of complete liquidation within
      the meaning of section 860F(a)(4) of the Code which, as evidenced by an
      Opinion of Counsel (which opinion shall not be an expense of the Trustee
      or the Tax Matters Person), meets the requirements of a qualified
      liquidation; and

                  (2) Within 90 days after the time of adoption of such a plan
      of complete liquidation, the Trustee shall sell all of the assets of the
      Trust Fund to the Master Servicer for cash in accordance with Section
      9.01.

      (b) The Trustee as agent for any REMIC created under this Agreement
hereby agrees to adopt and sign such a plan of complete liquidation upon the
written request of the Master Servicer and the receipt of the Opinion of
Counsel referred to in Section 9.03(a)(1) and to take such other action in
connection therewith as may be reasonably requested by the Master Servicer.

      (c) By their acceptance of the Certificates, the Holders thereof hereby
authorize the Master Servicer to prepare and the Trustee to adopt and sign a
plan of complete liquidation.

                                    ARTICLE X
                            MISCELLANEOUS PROVISIONS

      SECTION 10.01. Amendment.

      This Agreement may be amended from time to time by the Depositor, each
Seller, the Master Servicer and the Trustee without the consent of any of the
Certificateholders (i) to cure any ambiguity or mistake, (ii) to correct any
defective provision in this Agreement or to supplement any provision in this
Agreement which may be inconsistent with any other provision in this
Agreement, (iii) to conform this Agreement to the Prospectus and Prospectus
Supplement provided to investors in connection with the initial offering of
the Certificates, (iv) to add to the duties of the Depositor, any Seller or
the Master Servicer, (v) to modify, alter, amend, add to or rescind any of the
terms or provisions contained in this Agreement to comply with any rules or
regulations promulgated by the Securities and Exchange Commission from time to
time, (vi) to add any other provisions with respect to matters or questions
arising hereunder or (vii) to modify, alter, amend, add to or rescind any of
the terms or provisions contained in this Agreement; provided that any action
pursuant to clauses (vi) or (vii) above shall not, as evidenced by an Opinion
of Counsel (which Opinion of Counsel shall not be an expense of the Trustee or
the Trust Fund), adversely affect in any material respect the interests of any
Certificateholder; provided, however, that the amendment shall be deemed not
to adversely affect in any material respect the interests of the
Certificateholders if the Person requesting the amendment obtains a

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letter from each Rating Agency stating that the amendment would not result in
the downgrading or withdrawal of the respective ratings then assigned to the
Certificates; it being understood and agreed that any such letter in and of
itself will not represent a determination as to the materiality of any such
amendment and will represent a determination only as to the credit issues
affecting any such rating. Notwithstanding the foregoing, no amendment that
significantly changes the permitted activities of the trust created by this
Agreement may be made without the consent of a Majority in Interest of each
Class of Certificates affected by such amendment. Each party to this Agreement
hereby agrees that it will cooperate with each other party in amending this
Agreement pursuant to clause (v) above. The Trustee, each Seller, the
Depositor and the Master Servicer also may at any time and from time to time
amend this Agreement without the consent of the Certificateholders to modify,
eliminate or add to any of its provisions to such extent as shall be necessary
or helpful to (i) maintain the qualification of any REMIC as a REMIC under the
Code, (ii) avoid or minimize the risk of the imposition of any tax on any
REMIC pursuant to the Code that would be a claim at any time prior to the
final redemption of the Certificates or (iii) comply with any other
requirements of the Code, provided that the Trustee has been provided an
Opinion of Counsel, which opinion shall be an expense of the party requesting
such opinion but in any case shall not be an expense of the Trustee or the
Trust Fund, to the effect that such action is necessary or helpful to, as
applicable, (i) maintain such qualification, (ii) avoid or minimize the risk
of the imposition of such a tax or (iii) comply with any such requirements of
the Code.

      This Agreement may also be amended from time to time by the Depositor,
each Seller, the Master Servicer and the Trustee with the consent of the
Holders of a Majority in Interest of each Class of Certificates affected
thereby for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of this Agreement or of modifying in any
manner the rights of the Holders of such Certificates; provided, however, that
no such amendment shall (i) reduce in any manner the amount of, or delay the
timing of, payments required to be distributed on any Certificate without the
consent of the Holder of such Certificate, (ii) adversely affect in any
material respect the interests of the Holders of any Class of Certificates in
a manner other than as described in (i), without the consent of the Holders of
Certificates of such Class evidencing, as to such Class, Percentage Interests
aggregating 66-2/3%, or (iii) reduce the aforesaid percentages of Certificates
the Holders of which are required to consent to any such amendment, without
the consent of the Holders of all such Certificates then outstanding.

      Notwithstanding any contrary provision of this Agreement, no amendment
shall adversely affect in any material respect the Swap Counterparty without
at least ten Business Days' prior notice to the Swap Counterparty and without
the prior written consent of the Swap Counterparty, which consent shall not be
unreasonably withheld. Countrywide shall provide the Swap Counterparty with
prior written notice of any proposed material amendment of this Agreement.

      Notwithstanding any contrary provision of this Agreement, the Trustee
shall not consent to any amendment to this Agreement unless it shall have
first received an Opinion of Counsel, which opinion shall not be an expense of
the Trustee or the Trust Fund, to the effect that such amendment will not
cause the imposition of any tax on any REMIC or the Certificateholders or
cause any REMIC to fail to qualify as a REMIC at any time that any
Certificates are outstanding.

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      Promptly after the execution of any amendment to this Agreement
requiring the consent of Certificateholders, the Trustee shall furnish written
notification of the substance or a copy of such amendment to the Swap
Counterparty, each Certificateholder and each Rating Agency.

      It shall not be necessary for the consent of Certificateholders under
this Section to approve the particular form of any proposed amendment, but it
shall be sufficient if such consent shall approve the substance thereof. The
manner of obtaining such consents and of evidencing the authorization of the
execution thereof by Certificateholders shall be subject to such reasonable
regulations as the Trustee may prescribe.

      Nothing in this Agreement shall require the Trustee to enter into an
amendment without receiving an Opinion of Counsel (which Opinion shall not be
an expense of the Trustee or the Trust Fund), satisfactory to the Trustee that
(i) such amendment is permitted and is not prohibited by this Agreement and
that all requirements for amending this Agreement have been complied with; and
(ii) either (A) the amendment does not adversely affect in any material
respect the interests of any Certificateholder or (B) the conclusion set forth
in the immediately preceding clause (A) is not required to be reached pursuant
to this Section 10.01.

      SECTION 10.02. Recordation of Agreement; Counterparts.

      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 or all of the properties subject to the Mortgages
are situated, and in any other appropriate public recording office or
elsewhere, such recordation to be effected by the Master Servicer at its
expense, but only upon direction by the Trustee accompanied by an Opinion of
Counsel to the effect that such recordation materially and beneficially
affects the interests of the Certificateholders.

      For the purpose of facilitating the recordation of this Agreement as in
this Agreement provided and for other purposes, this Agreement may be executed
simultaneously in any number of counterparts, each of which counterparts shall
be deemed to be an original, and such counterparts shall constitute but one
and the same instrument.

      SECTION 10.03. Governing Law.

      THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE
SUBSTANTIVE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO
BE PERFORMED IN THE STATE OF NEW YORK AND THE OBLIGATIONS, RIGHTS AND REMEDIES
OF THE PARTIES HERETO AND THE CERTIFICATEHOLDERS SHALL BE DETERMINED IN
ACCORDANCE WITH SUCH LAWS.

      SECTION 10.04. Intention of Parties.

      (a) It is the express intent of the parties hereto that the conveyance
of the (i) Mortgage Loans by the Sellers to the Depositor and (ii) Trust Fund
by the Depositor to the Trustee each be, and be construed as, an absolute sale
thereof to the Trustee. It is, further, not the intention of the parties that
such conveyances be deemed a pledge thereof. However, in the event that,
notwithstanding the intent of the parties, such assets are held to be the
property of any Seller or

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the Depositor, as the case may be, or if for any other reason this Agreement
or any Supplemental Transfer Agreement is held or deemed to create a security
interest in either such assets, then (i) this Agreement or any Supplemental
Transfer Agreement shall be deemed to be a security agreement (within the
meaning of the Uniform Commercial Code of the State of New York) with respect
to all such assets and security interests and (ii) the conveyances provided
for in this Agreement or any Supplemental Transfer Agreement shall be deemed
to be an assignment and a grant pursuant to the terms of this Agreement (a) by
each Seller to the Depositor or (b) by the Depositor to the Trustee, for the
benefit of the Certificateholders and the Swap Counterparty, of a security
interest in all of the assets that constitute the Trust Fund, whether now
owned or hereafter acquired.

      Each Seller and the Depositor for the benefit of the Certificateholders
and the Swap Counterparty shall, to the extent consistent with this Agreement,
take such actions as may be necessary to ensure that, if this Agreement were
deemed to create a security interest in the Trust Fund, such security interest
would be deemed to be a perfected security interest of first priority under
applicable law and will be maintained as such throughout the term of the
Agreement. The Depositor shall arrange for filing any Uniform Commercial Code
continuation statements in connection with any security interest granted or
assigned to the Trustee for the benefit of the Certificateholders and the Swap
Counterparty.

      (b) The Depositor hereby represents that:

            (i) This Agreement creates a valid and continuing security
      interest (as defined in the Uniform Commercial Code as enacted in the
      State of New York (the "NY UCC")) in the Mortgage Notes in favor of the
      Trustee, which security interest is prior to all other liens, and is
      enforceable as such as against creditors of and purchasers from the
      Depositor.

            (ii) The Mortgage Notes constitutes "instruments" within the
      meaning of the NY UCC.

            (iii) Immediately prior to the assignment of each Mortgage Loan to
      the Trustee, the Depositor owns and has good and marketable title to
      such Mortgage Loan free and clear of any lien, claim or encumbrance of
      any Person.

            (iv) The Depositor has received all consents and approvals
      required by the terms of the Mortgage Loans to the sale of the Mortgage
      Loans hereunder to the Trustee.

            (v) All original executed copies of each Mortgage Note that are
      required to be delivered to the Trustee pursuant to Section 2.01 have
      been delivered to the Trustee.

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

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      terminated. The Depositor is not aware of any judgment or tax lien
      filings against the Depositor.

      The parties to this Agreement shall not waive any of the representations
set forth in this Section 10.04(b) without obtaining a confirmation of the
then-current ratings of the Certificates.

      (c) The Master Servicer shall take such action as is reasonably
necessary to maintain the perfection and priority of the security interest of
the Trustee in the Mortgage Loans; provided, however, that the obligation to
deliver the Mortgage File to the Trustee pursuant to Section 2.01 shall be
solely the Depositor's obligation and the Master Servicer shall not be
responsible for the safekeeping of the Mortgage Files by the Trustee.

      (d) It is understood and agreed that the representations and warranties
set forth in subsection (b) above shall survive delivery of the Mortgage Files
to the Trustee. Upon discovery by the Depositor or the Trustee of a breach of
any of the foregoing representations and warranties set forth in subsection
(b) above, which breach materially and adversely affects the interest of the
Certificateholders, the party discovering such breach shall give prompt
written notice to the others and to each Rating Agency.

      SECTION 10.05. Notices.

      (a) The Trustee shall use its best efforts to promptly provide notice to
each Rating Agency and the Swap Counterparty with respect to each of the
following of which it has actual knowledge:

      1. Any material change or amendment to this Agreement;

      2. The occurrence of any Event of Default that has not been cured;

      3. The resignation or termination of the Master Servicer or the Trustee
and the appointment of any successor;

      4. The repurchase or substitution of Mortgage Loans pursuant to Section
2.03;

      5. The final payment to Certificateholders; and

      6. Any rating action involving the long-term credit rating of
Countrywide, which notice shall be made by first class mail within two
Business Days after the Trustee gains actual knowledge of such a rating
action.

      In addition, the Trustee shall promptly furnish to each Rating Agency
copies of the following:

      1. Each report to Certificateholders described in Section 4.06;

      2. Each annual statement as to compliance described in Section 3.16;

      3. Each annual independent public accountants' servicing report
described in Section 11.07; and

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      4. Any notice of a purchase of a Mortgage Loan pursuant to Section 2.02,
2.03 or 3.11.

All directions, demands and notices under this Agreement shall be in writing and
shall be deemed to have been duly given when delivered by first class mail, by
courier or by facsimile transmission to (1) in the case of the Depositor, CWALT,
Inc., 4500 Park Granada, Calabasas, California 91302, facsimile number: (818)
225-4016, Attention: Josh Adler, (2) in the case of Countrywide, Countrywide
Home Loans, Inc., 4500 Park Granada, Calabasas, California 91302, facsimile
number: (818) 225-4016, Attention: Josh Adler or such other address as may be
hereafter furnished to the Depositor and the Trustee by Countrywide in writing,
(3) in the case of Park Granada, Park Granada LLC, c/o Countrywide Financial
Corporation, 4500 Park Granada, Calabasas, California 91302, facsimile number:
(818) 225-4016, Attention: Josh Adler or such other address as may be hereafter
furnished to the Depositor and the Trustee by Park Granada in writing, (4) in
the case of Park Monaco Inc., c/o Countrywide Financial Corporation, 4500 Park
Granada, Calabasas, California 91302, facsimile number: (818) 225-4016,
Attention: Josh Adler or such other address as may be hereafter furnished to the
Depositor and the Trustee by Park Monaco in writing, (5) in the case of Park
Sienna LLC, c/o Countrywide Financial Corporation, 4500 Park Granada, Calabasas,
California 91302, facsimile number: (818) 225-4016, Attention: Josh Adler or
such other address as may be hereafter furnished to the Depositor and the
Trustee by Park Sienna in writing, (6) in the case of the Master Servicer,
Countrywide Home Loans Servicing LP, 400 Countrywide Way, Simi Valley,
California 93065, facsimile number (805) 520-5623, Attention: Mark Wong, or such
other address as may be hereafter furnished to the Depositor and the Trustee by
the Master Servicer in writing, (7) in the case of the Trustee, The Bank of New
York, 101 Barclay Street, 4 West, New York, New York 10286, facsimile number:
(212) 815-3986, Attention: Mortgage-Backed Securities Group, CWALT, Inc. Series
2007-OH1, or such other address as the Trustee may hereafter furnish to the
Depositor or Master Servicer, (8) in the case of the Rating Agencies, the
address specified therefor in the definition corresponding to the name of such
Rating Agency , and (9) in the case of the Swap Counterparty, Barclays Bank PLC,
5 The North Colonnade, Canary Wharf, London E14 4BB, England, Attention: Swaps
Documentation, facsimile number 44(20) 777 36461, or such other address as may
be hereafter furnished by the Swap Counterparty. Notices to Certificateholders
shall be deemed given when mailed, first class postage prepaid, to their
respective addresses appearing in the Certificate Register.

      SECTION 10.06. Severability of Provisions.

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

      SECTION 10.07. Assignment.

      Notwithstanding anything to the contrary contained in this Agreement,
except as provided in Section 6.02, this Agreement may not be assigned by the
Master Servicer without the prior written consent of the Trustee and the
Depositor.

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      SECTION 10.08. Limitation on Rights of Certificateholders.

      The death or incapacity of any Certificateholder shall not operate to
terminate this Agreement or the trust created hereby, nor entitle such
Certificateholder's legal representative or heirs to claim an accounting or to
take any action or commence any proceeding in any court for a petition or
winding up of the trust created by this Agreement, or otherwise affect the
rights, obligations and liabilities of the parties hereto or any of them.

      No Certificateholder shall have any right to vote (except as provided in
this Agreement) or in any manner otherwise control the operation and
management of the Trust Fund, or the obligations of the parties hereto, nor
shall anything set forth in this Agreement or contained in the terms of the
Certificates be construed so as to constitute the Certificateholders from time
to time as partners or members of an association; nor shall any
Certificateholder be under any liability to any third party by reason of any
action taken by the parties to this Agreement pursuant to any provision of
this Agreement.

      No Certificateholder shall have any right by virtue or by availing
itself of any provisions of this Agreement to institute any suit, action or
proceeding in equity or at law upon or under or with respect to this
Agreement, unless such Holder previously shall have given to the Trustee a
written notice of an Event of Default and of the continuance thereof, as
provided in this Agreement, and unless the Holders of Certificates evidencing
not less than 25% of the Voting Rights evidenced by the Certificates shall
also have made written request to the Trustee to institute such action, suit
or proceeding in its own name as Trustee hereunder and shall have offered to
the Trustee such reasonable indemnity as it may require against the costs,
expenses, and liabilities to be incurred therein or thereby, and the Trustee,
for 60 days after its receipt of such notice, request and offer of indemnity
shall have neglected or refused to institute any such action, suit or
proceeding; it being understood and intended, and being expressly covenanted
by each Certificateholder with every other Certificateholder and the Trustee,
that no one or more Holders of Certificates shall have any right in any manner
whatever by virtue or by availing itself or themselves of any provisions of
this Agreement to affect, disturb or prejudice the rights of the Holders of
any other of the Certificates, or to obtain or seek to obtain priority over or
preference to any other such Holder or to enforce any right under this
Agreement, except in the manner provided in this Agreement and for the common
benefit of all Certificateholders. For the protection and enforcement of the
provisions of this Section 10.08, each and every Certificateholder and the
Trustee shall be entitled to such relief as can be given either at law or in
equity.

      SECTION 10.09. Inspection and Audit Rights.

      The Master Servicer agrees that, on reasonable prior notice, it will
permit and will cause each Subservicer to permit any representative of the
Depositor or the Trustee during the Master Servicer's normal business hours,
to examine all the books of account, records, reports and other papers of the
Master Servicer relating to the Mortgage Loans, to make copies and extracts
therefrom, to cause such books to be audited by independent certified public
accountants selected by the Depositor or the Trustee and to discuss its
affairs, finances and accounts relating to the Mortgage Loans with its
officers, employees and independent public accountants (and by this provision
the Master Servicer hereby authorizes said accountants to discuss with such
representative such affairs, finances and accounts), all at such reasonable
times and as often as

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may be reasonably requested. Any out-of-pocket expense incident to the
exercise by the Depositor or the Trustee of any right under this Section 10.09
shall be borne by the party requesting such inspection; all other such
expenses shall be borne by the Master Servicer or the related Subservicer.

      SECTION 10.10. Certificates Nonassessable and Fully Paid.

      It is the intention of the Depositor that Certificateholders shall not
be personally liable for obligations of the Trust Fund, that the interests in
the Trust Fund represented by the Certificates shall be nonassessable for any
reason whatsoever, and that the Certificates, upon due authentication thereof
by the Trustee pursuant to this Agreement, are and shall be deemed fully paid.

      SECTION 10.11. [Reserved].

      SECTION 10.12. Protection of Assets.

      (a) Except for transactions and activities entered into in connection
with the securitization that is the subject of this Agreement, the Trust Fund
created by this Agreement is not authorized and has no power to:

      (i) borrow money or issue debt;

      (ii) merge with another entity, reorganize, liquidate or sell assets; or

      (iii) engage in any business or activities.

      (b) Each party to this Agreement agrees that it will not file an
involuntary bankruptcy petition against the Trustee or the Trust Fund or
initiate any other form of insolvency proceeding until the date that is one
year and one day after the Certificates have been paid.

                                   ARTICLE XI
                             EXCHANGE ACT REPORTING

      SECTION 11.01. Filing Obligations.

            The Master Servicer, the Trustee and each Seller shall reasonably
cooperate with the Depositor in connection with the satisfaction of the
Depositor's reporting requirements under the Exchange Act with respect to the
Trust Fund. In addition to the information specified below, if so requested by
the Depositor for the purpose of satisfying its reporting obligation under the
Exchange Act, the Master Servicer, the Trustee and each Seller shall (and the
Master Servicer shall cause each Subservicer to) provide the Depositor with
(a) such information which is available to such Person without unreasonable
effort or expense and within such timeframe as may be reasonably requested by
the Depositor to comply with the Depositor's reporting obligations under the
Exchange Act and (b) to the extent such Person is a party (and the Depositor
is not a party) to any agreement or amendment required to be filed, copies of
such agreement or amendment in EDGAR-compatible form.

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      SECTION 11.02. Form 10-D Filings.

      (a) In accordance with the Exchange Act, the Trustee shall prepare for
filing and file within 15 days after each Distribution Date (subject to
permitted extensions under the Exchange Act) with the Commission with respect
to the Trust Fund, a Form 10-D with copies of the Monthly Statement and, to
the extent delivered to the Trustee, no later than 10 days following the
Distribution Date, such other information identified by the Depositor or the
Master Servicer, in writing, to be filed with the Commission (such other
information, the "Additional Designated Information"). If the Depositor or
Master Servicer directs that any Additional Designated Information is to be
filed with any Form 10-D, the Depositor or Master Servicer, as the case may
be, shall specify the Item on Form 10-D to which such information is
responsive and, with respect to any Exhibit to be filed on Form 10-D, the
Exhibit number. Any information to be filed on Form 10-D shall be delivered to
the Trustee in EDGAR-compatible form or as otherwise agreed upon by the
Trustee and the Depositor or the Master Servicer, as the case may be, at the
Depositor's expense, and any necessary conversion to EDGAR-compatible format
will be at the Depositor's expense. At the reasonable request of, and in
accordance with the reasonable directions of, the Depositor or the Master
Servicer, subject to the two preceding sentences, the Trustee shall prepare
for filing and file an amendment to any Form 10-D previously filed with the
Commission with respect to the Trust Fund. The Master Servicer shall sign the
Form 10-D filed on behalf of the Trust Fund.

      (b) No later than each Distribution Date, each of the Master Servicer
and the Trustee shall notify (and the Master Servicer shall cause any
Subservicer to notify) the Depositor and the Master Servicer of any Form 10-D
Disclosure Item, together with a description of any such Form 10-D Disclosure
Item in form and substance reasonably acceptable to the Depositor. In addition
to such information as the Master Servicer and the Trustee are obligated to
provide pursuant to other provisions of this Agreement, if so requested by the
Depositor, each of the Master Servicer and the Trustee shall provide such
information which is available to the Master Servicer and the Trustee, as
applicable, without unreasonable effort or expense regarding the performance
or servicing of the Mortgage Loans (in the case of the Trustee, based on the
information provided by the Master Servicer) as is reasonably required to
facilitate preparation of distribution reports in accordance with Item 1121 of
Regulation AB. Such information shall be provided concurrently with the
delivery of the reports specified in Section 4.06(c) in the case of the Master
Servicer and the Monthly Statement in the case of the Trustee, commencing with
the first such report due not less than five Business Days following such
request.

      (c) The Trustee shall not have any responsibility to file any items
(other than those generated by it) that have not been received in a format
suitable (or readily convertible into a format suitable) for electronic filing
via the EDGAR system and shall not have any responsibility to convert any such
items to such format (other than those items generated by it or that are
readily convertible to such format). The Trustee shall have no liability to
the Certificateholders, the Trust Fund, the Master Servicer or the Depositor
with respect to any failure to properly prepare or file any of Form 10-D to
the extent that such failure is not the result of any negligence, bad faith or
willful misconduct on its part.

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      SECTION 11.03. Form 8-K Filings.

            The Master Servicer shall prepare and file on behalf of the Trust
Fund any Form 8-K required by the Exchange Act. Each Form 8-K must be signed
by the Master Servicer. Each of the Master Servicer (and the Master Servicer
shall cause any Subservicer to promptly notify), and the Trustee shall
promptly notify the Depositor and the Master Servicer (if the notifying party
is not the Master Servicer), but in no event later than one (1) Business Day
after its occurrence, of any Reportable Event of which it has actual
knowledge. Each Person shall be deemed to have actual knowledge of any such
event to the extent that it relates to such Person or any action or failure to
act by such Person. Concurrently with any transfer of Supplemental Mortgage
Loans, if any, Countrywide shall notify the Depositor and the Master Servicer,
if any material pool characteristic of the actual asset pool at the time of
issuance of the Certificates differs by 5% or more (other than as a result of
the pool assets converting into cash in accordance with their terms) from the
description of the asset pool in the Prospectus Supplement.

      SECTION 11.04. Form 10-K Filings.

            Prior to March 30th of each year, commencing in 2008 (or such
earlier date as may be required by the Exchange Act), the Depositor shall
prepare and file on behalf of the Trust Fund a Form 10-K, in form and
substance as required by the Exchange Act. A senior officer in charge of the
servicing function of the Master Servicer shall sign each Form 10-K filed on
behalf of the Trust Fund. Such Form 10-K shall include as exhibits each (i)
annual compliance statement described under Section 3.16, (ii) annual report
on assessments of compliance with servicing criteria described under Section
11.07 and (iii) accountant's report described under Section 11.07. Each Form
10-K shall also include any Sarbanes-Oxley Certification required to be
included therewith, as described in Section 11.05.

            If the Item 1119 Parties listed on Exhibit T have changed since
the Closing Date, no later than March 1 of each year, the Master Servicer
shall provide each of the Master Servicer (and the Master Servicer shall
provide any Subservicer) and the Trustee with an updated Exhibit T setting
forth the Item 1119 Parties. No later than March 15 of each year, commencing
in 2008, the Master Servicer and the Trustee shall notify (and the Master
Servicer shall cause any Subservicer to notify) the Depositor and the Master
Servicer of any Form 10-K Disclosure Item, together with a description of any
such Form 10-K Disclosure Item in form and substance reasonably acceptable to
the Depositor. Additionally, each of the Master Servicer and the Trustee shall
provide, and shall cause each Reporting Subcontractor retained by the Master
Servicer or the Trustee, as applicable, and in the case of the Master Servicer
shall cause each Subservicer, to provide, the following information no later
than March 15 of each year in which a Form 10-K is required to be filed on
behalf of the Trust Fund: (i) if such Person's report on assessment of
compliance with servicing criteria described under Section 11.07 or related
registered public accounting firm attestation report described under Section
11.07 identifies any material instance of noncompliance, notification of such
instance of noncompliance and (ii) if any such Person's report on assessment
of compliance with servicing criteria or related registered public accounting
firm attestation report is not provided to be filed as an exhibit to such Form
10-K, information detailing the explanation why such report is not included.

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      SECTION 11.05. Sarbanes-Oxley Certification.

            Each Form 10-K shall include a certification (the "Sarbanes-Oxley
Certification") required by Rules 13a-14(d) and 15d-14(d) under the Exchange
Act (pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 and the rules
and regulations of the Commission promulgated thereunder (including any
interpretations thereof by the Commission's staff)). No later than March 15 of
each year, beginning in 2008, the Master Servicer and the Trustee shall
(unless such person is the Certifying Person), and the Master Servicer shall
cause each Subservicer and each Reporting Subcontractor and the Trustee shall
cause each Reporting Subcontractor to, provide to the Person who signs the
Sarbanes-Oxley Certification (the "Certifying Person") a certification (each,
a "Performance Certification"), in the form attached hereto as Exhibit R-1 (in
the case of a Subservicer or any Reporting Subcontractor of the Master
Servicer or a Subservicer) and Exhibit R-2 (in the case of the Trustee or any
Reporting Subcontractor of the Trustee), on which the Certifying Person, the
entity for which the Certifying Person acts as an officer, and such entity's
officers, directors and Affiliates (collectively with the Certifying Person,
"Certification Parties") can reasonably rely. The senior officer in charge of
the servicing function of the Master Servicer shall serve as the Certifying
Person on behalf of the Trust Fund. Neither the Master Servicer nor the
Depositor will request delivery of a certification under this clause unless
the Depositor is required under the Exchange Act to file an annual report on
Form 10-K with respect to the Trust Fund. In the event that prior to the
filing date of the Form 10-K in March of each year, the Trustee or the
Depositor has actual knowledge of information material to the Sarbanes-Oxley
Certification, the Trustee or the Depositor, as the case may be, shall
promptly notify the Master Servicer and the Depositor. The respective parties
hereto agree to cooperate with all reasonable requests made by any Certifying
Person or Certification Party in connection with such Person's attempt to
conduct any due diligence that such Person reasonably believes to be
appropriate in order to allow it to deliver any Sarbanes-Oxley Certification
or portion thereof with respect to the Trust Fund.

      SECTION 11.06. Form 15 Filing.

            Prior to January 30 of the first year in which the Depositor is
able to do so under applicable law, the Depositor shall file a Form 15
relating to the automatic suspension of reporting in respect of the Trust Fund
under the Exchange Act.

      SECTION 11.07. Report on Assessment of Compliance and Attestation.

      (a) On or before March 15 of each calendar year, commencing in 2008:

            (i) Each of the Master Servicer and the Trustee shall deliver to
      the Depositor and the Master Servicer a report (in form and substance
      reasonably satisfactory to the Depositor) regarding the Master
      Servicer's or the Trustee's, as applicable, assessment of compliance
      with the Servicing Criteria during the immediately preceding calendar
      year, as required under Rules 13a-18 and 15d-18 of the Exchange Act and
      Item 1122 of Regulation AB. Such report shall be signed by an authorized
      officer of such Person and shall address each of the Servicing Criteria
      specified on a certification substantially in the form of Exhibit S
      hereto delivered to the Depositor concurrently with the execution of
      this Agreement. To the extent any of the Servicing Criteria are not
      applicable to such Person, with respect to asset-backed securities
      transactions taken as a whole involving

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<PAGE>

      such Person and that are backed by the same asset type backing the
      Certificates, such report shall include such a statement to that effect.
      The Depositor and the Master Servicer, and each of their respective
      officers and directors shall be entitled to rely on upon each such
      servicing criteria assessment.

            (ii) Each of the Master Servicer and the Trustee shall deliver to
      the Depositor and the Master Servicer a report of a registered public
      accounting firm reasonably acceptable to the Depositor that attests to,
      and reports on, the assessment of compliance made by Master Servicer or
      the Trustee, as applicable, and delivered pursuant to the preceding
      paragraphs. Such attestation shall be in accordance with Rules
      1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act and
      the Exchange Act, including, without limitation that in the event that
      an overall opinion cannot be expressed, such registered public
      accounting firm shall state in such report why it was unable to express
      such an opinion. Such report must be available for general use and not
      contain restricted use language. To the extent any of the Servicing
      Criteria are not applicable to such Person, with respect to asset-backed
      securities transactions taken as a whole involving such Person and that
      are backed by the same asset type backing the Certificates, such report
      shall include such a statement to that effect.

            (iii) The Master Servicer shall cause each Subservicer and each
      Reporting Subcontractor to deliver to the Depositor an assessment of
      compliance and accountant's attestation as and when provided in
      paragraphs (a) and (b) of this Section 11.07.

            (iv) The Trustee shall cause each Reporting Subcontractor to
      deliver to the Depositor and the Master Servicer an assessment of
      compliance and accountant's attestation as and when provided in
      paragraphs (a) and (b) of this Section.

            (v) The Master Servicer and the Trustee shall execute (and the
      Master Servicer shall cause each Subservicer to execute, and the Master
      Servicer and the Trustee shall cause each Reporting Subcontractor to
      execute) a reliance certificate to enable the Certification Parties to
      rely upon each (i) annual compliance statement provided pursuant to
      Section 3.16, (ii) annual report on assessments of compliance with
      servicing criteria provided pursuant to this Section 11.07 and (iii)
      accountant's report provided pursuant to this Section 11.07 and shall
      include a certification that each such annual compliance statement or
      report discloses any deficiencies or defaults described to the
      registered public accountants of such Person to enable such accountants
      to render the certificates provided for in this Section 11.07. In the
      event the Master Servicer, any Subservicer, the Trustee or Reporting
      Subcontractor is terminated or resigns during the term of this
      Agreement, such Person shall provide a certification to the Certifying
      Person pursuant to this Section 11.07 with respect to the period of time
      it was subject to this Agreement or provided services with respect to
      the Trust Fund, the Certificates or the Mortgage Loans.

      (b) In the event the Master Servicer, any Subservicer, the Trustee or
Reporting Subcontractor is terminated or resigns during the term of this
Agreement, such Person shall provide documents and information required by
this Section 11.07 with respect to the period of time it was subject to this
Agreement or provided services with respect to the Trust Fund, the
Certificates or the Mortgage Loans.

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<PAGE>

      (c) Each assessment of compliance provided by a Subservicer pursuant to
Section 11.07(a)(3) shall address each of the Servicing Criteria specified on
a certification substantially in the form of Exhibit S hereto delivered to the
Depositor concurrently with the execution of this Agreement or, in the case of
a Subservicer subsequently appointed as such, on or prior to the date of such
appointment. An assessment of compliance provided by a Subcontractor pursuant
to Section 11.07(a)(3) or (4) need not address any elements of the Servicing
Criteria other than those specified by the Master Servicer or the Trustee, as
applicable, pursuant to Section 11.07(a)(1).

      SECTION 11.08. Use of Subservicers and Subcontractors.

      (a) The Master Servicer shall cause any Subservicer used by the Master
Servicer (or by any Subservicer) for the benefit of the Depositor to comply
with the provisions of Section 3.16 and this Article XI to the same extent as
if such Subservicer were the Master Servicer (except with respect to the
Master Servicer's duties with respect to preparing and filing any Exchange Act
Reports or as the Certifying Person). The Master Servicer shall be responsible
for obtaining from each Subservicer and delivering to the Depositor any
servicer compliance statement required to be delivered by such Subservicer
under Section 3.16, any assessment of compliance and attestation required to
be delivered by such Subservicer under Section 11.07 and any certification
required to be delivered to the Certifying Person under Section 11.05 as and
when required to be delivered. As a condition to the succession to any
Subservicer as subservicer under this Agreement by any Person (i) into which
such Subservicer may be merged or consolidated, or (ii) which may be appointed
as a successor to any Subservicer, the Master Servicer shall provide to the
Depositor, at least 15 calendar days prior to the effective date of such
succession or appointment, (x) written notice to the Depositor of such
succession or appointment and (y) in writing and in form and substance
reasonably satisfactory to the Depositor, all information reasonably requested
by the Depositor in order to comply with its reporting obligation under Item
6.02 of Form 8-K.

      (b) It shall not be necessary for the Master Servicer, any Subservicer
or the Trustee to seek the consent of the Depositor or any other party hereto
to the utilization of any Subcontractor. The Master Servicer or the Trustee,
as applicable, shall promptly upon request provide to the Depositor (or any
designee of the Depositor, such as the Master Servicer or administrator) a
written description (in form and substance satisfactory to the Depositor) of
the role and function of each Subcontractor utilized by such Person (or in the
case of the Master Servicer, any Subservicer), specifying (i) the identity of
each such Subcontractor, (ii) which (if any) of such Subcontractors are
"participating in the servicing function" within the meaning of Item 1122 of
Regulation AB, and (iii) which elements of the Servicing Criteria will be
addressed in assessments of compliance provided by each Subcontractor
identified pursuant to clause (ii) of this paragraph.

            As a condition to the utilization of any Subcontractor determined
to be a Reporting Subcontractor, the Master Servicer or the Trustee, as
applicable, shall cause any such Subcontractor used by such Person (or in the
case of the Master Servicer, any Subservicer) for the benefit of the Depositor
to comply with the provisions of Sections 11.07 and 11.09 of this Agreement to
the same extent as if such Subcontractor were the Master Servicer (except with
respect to the Master Servicer's duties with respect to preparing and filing
any Exchange Act Reports or as the Certifying Person) or the Trustee, as
applicable. The Master Servicer or the

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Trustee, as applicable, shall be responsible for obtaining from each
Subcontractor and delivering to the Depositor and the Master Servicer, any
assessment of compliance and attestation required to be delivered by such
Subcontractor under Section 11.05 and Section 11.07, in each case as and when
required to be delivered.

      SECTION 11.09. Amendments.

            In the event the parties to this Agreement desire to further
clarify or amend any provision of this Article XI, this Agreement shall be
amended to reflect the new agreement between the parties covering matters in
this Article XI pursuant to Section 10.01, which amendment shall not require
any Opinion of Counsel or Rating Agency confirmations or the consent of any
Certificateholder. If, during the period that the Depositor is required to
file Exchange Act Reports with respect to the Trust Fund, the Master Servicer
is no longer an Affiliate of the Depositor, the Depositor shall assume the
obligations and responsibilities of the Master Servicer in this Article XI
with respect to the preparation and filing of the Exchange Act Reports and/or
acting as the Certifying Person, if the Depositor has received indemnity from
such successor Master Servicer satisfactory to the Depositor, and such Master
Servicer has agreed to provide a Sarbanes-Oxley Certification to the Depositor
substantially in the form of Exhibit U, and the certifications referred to in
Section 11.07.

      SECTION 11.10. Reconciliation of Accounts.

            Any reconciliation of Accounts performed by any party hereto, or
any Subservicer or Subcontractor, shall be prepared no later than 45 calendar
days after the bank statement cutoff date.

                             *   *   *   *   *   *

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      IN WITNESS WHEREOF, the Depositor, the Trustee, the Sellers and the
Master Servicer have caused their names to be signed hereto by their
respective officers thereunto duly authorized as of the day and year first
above written.

                                    CWALT, INC.,
                                      as Depositor

                                    By:   /s/ Michael Schloessmann
                                       ------------------------------------
                                    Name:   Michael Schloessmann
                                    Title:  Managing Director

                                    THE BANK OF NEW YORK,
                                      as Trustee

                                    By:   /s/ William J. Herrmann
                                         ----------------------------------
                                    Name:   William J. Herrmann
                                    Title:  Assistant Treasurer

                                    COUNTRYWIDE HOME LOANS, INC.,
                                      as a Seller

                                    By:   /s/ Michael Schloessmann
                                       ------------------------------------
                                    Name:   Michael Schloessmann
                                    Title:  Managing Director

                                    PARK GRANADA LLC,
                                      as a Seller

                                    By:   /s/ Michael Schloessmann
                                       ------------------------------------
                                    Name:   Michael Schloessmann
                                    Title:  Managing Director

                                    PARK SIENNA LLC,
                                      as a Seller

                                    By:   /s/ Michael Schloessmann
                                       ------------------------------------
                                    Name:   Michael Schloessmann
                                    Title:  Managing Director

<PAGE>

                                    PARK MONACO INC.,
                                      as a Seller

                                    By:   /s/ Michael Schloessmann
                                       ------------------------------------
                                    Name:   Michael Schloessmann
                                    Title:  Managing Director

                                    COUNTRYWIDE HOME LOANS SERVICING LP,
                                      as Master Servicer

                                    By:  COUNTRYWIDE GP, INC.

                                    By:   /s/ Michael Schloessmann
                                       ------------------------------------
                                    Name:   Michael Schloessmann
                                    Title:  Managing Director

<PAGE>

                                Acknowledged solely with respect to its
                                 obligations under Section 4.01(b)

                                THE BANK OF NEW YORK, in its individual capacity

                                  By: /s/ Paul Connolly
                                     -----------------------------------
                                  Name:   Paul Connolly
                                  Title:  Vice President

<PAGE>

                                   SCHEDULE I
                             Mortgage Loan Schedule
                        [Delivered at Closing to Trustee]

                                      S-I-1
<PAGE>

                                  SCHEDULE II-A
                                   CWALT, Inc.
                       Mortgage Pass-Through Certificates
                                 Series 2007-OH1
                  Representations and Warranties of Countrywide
                  ---------------------------------------------

      Countrywide Home Loans, Inc. ("Countrywide") hereby makes the
representations and warranties set forth in this Schedule II-A to the
Depositor, the Master Servicer and the Trustee, as of the Closing Date.
Capitalized terms used but not otherwise defined in this Schedule II-A shall
have the meanings ascribed thereto in the Pooling and Servicing Agreement (the
"Pooling and Servicing Agreement") relating to the above-referenced Series,
among Countrywide, as a seller, Park Granada LLC as a seller, Park Monaco
Inc., as a seller, Park Sienna LLC, as a seller, Countrywide Home Loans
Servicing LP, as master servicer, CWALT, Inc., as depositor, and The Bank of
New York, as trustee.

            (1) Countrywide is duly organized as a New York corporation and is
validly existing and in good standing under the laws of the State of New York
and is duly authorized and qualified to transact any and all business
contemplated by the Pooling and Servicing Agreement to be conducted by
Countrywide in any state in which a Mortgaged Property is located or is
otherwise not required under applicable law to effect such qualification and,
in any event, is in compliance with the doing business laws of any such state,
to the extent necessary to perform any of its obligations under the Pooling
and Servicing Agreement and each Supplemental Transfer Agreement in accordance
with the terms thereof.

            (2) Countrywide has the full corporate power and authority to sell
each Countrywide Mortgage Loan, and to execute, deliver and perform, and to
enter into and consummate the transactions contemplated by the Pooling and
Servicing Agreement and each Supplemental Transfer Agreement and has duly
authorized by all necessary corporate action on the part of Countrywide the
execution, delivery and performance of the Pooling and Servicing Agreement and
each Supplemental Transfer Agreement; and the Pooling and Servicing Agreement
and each Supplemental Transfer Agreement, assuming the due authorization,
execution and delivery thereof by the other parties thereto, constitutes a
legal, valid and binding obligation of Countrywide, enforceable against
Countrywide in accordance with its terms, except that (a) the enforceability
thereof may be limited by bankruptcy, insolvency, moratorium, receivership and
other similar laws relating to creditors' rights generally and (b) the remedy
of specific performance and injunctive and other forms of equitable relief may
be subject to equitable defenses and to the discretion of the court before
which any proceeding therefor may be brought.

            (3) The execution and delivery of the Pooling and Servicing
Agreement and each Supplemental Transfer Agreement by Countrywide, the sale of
the Countrywide Mortgage Loans by Countrywide under the Pooling and Servicing
Agreement and each Supplemental Transfer Agreement, the consummation of any
other of the transactions contemplated by the Pooling and Servicing Agreement,
and the fulfillment of or compliance with the terms thereof are in the
ordinary course of business of Countrywide and will not (A) result in a
material breach of any term or provision of the charter or by-laws of
Countrywide or (B) materially conflict with, result in a material breach,
violation or acceleration of, or result in a material default under, the

                                    S-II-A-1
<PAGE>

terms of any other material agreement or instrument to which Countrywide is a
party or by which it may be bound, or (C) constitute a material violation of
any statute, order or regulation applicable to Countrywide of any court,
regulatory body, administrative agency or governmental body having
jurisdiction over Countrywide; and Countrywide is not in breach or violation
of any material indenture or other material agreement or instrument, or in
violation of any statute, order or regulation of any court, regulatory body,
administrative agency or governmental body having jurisdiction over it which
breach or violation may materially impair Countrywide's ability to perform or
meet any of its obligations under the Pooling and Servicing Agreement.

            (4) Countrywide is an approved servicer of conventional mortgage
loans for FNMA or FHLMC and is a mortgagee approved by the Secretary of
Housing and Urban Development pursuant to sections 203 and 211 of the National
Housing Act.

            (5) No litigation is pending or, to the best of Countrywide's
knowledge, threatened, against Countrywide that would materially and adversely
affect the execution, delivery or enforceability of the Pooling and Servicing
Agreement or the ability of Countrywide to sell the Countrywide Mortgage Loans
or to perform any of its other obligations under the Pooling and Servicing
Agreement in accordance with the terms thereof.

            (6) No consent, approval, authorization or order of any court or
governmental agency or body is required for the execution, delivery and
performance by Countrywide of, or compliance by Countrywide with, the Pooling
and Servicing Agreement or the consummation of the transactions contemplated
thereby, or if any such consent, approval, authorization or order is required,
Countrywide has obtained the same.

            (7) Countrywide intends to treat the transfer of the Countrywide
Mortgage Loans to the Depositor as a sale of the Countrywide Mortgage Loans
for all tax, accounting and regulatory purposes.

            (8) Countrywide 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 in the Trust Fund for
as long as such Mortgage Loans are registered with MERS.

                                    S-II-A-2
<PAGE>

                                  SCHEDULE II-B

                                   CWALT, Inc.

                       Mortgage Pass-Through Certificates

                                 Series 2007-OH1

                 Representations and Warranties of Park Granada
                 ----------------------------------------------

      Park Granada LLC ("Park Granada") and Countrywide Home Loans, Inc.
("Countrywide"), each hereby makes the representations and warranties set
forth in this Schedule II-B to the Depositor, the Master Servicer and the
Trustee, as of the Closing Date. Capitalized terms used but not otherwise
defined in this Schedule II-B shall have the meanings ascribed thereto in the
Pooling and Servicing Agreement (the "Pooling and Servicing Agreement")
relating to the above-referenced Series, among Park Granada, as a seller, Park
Monaco Inc., as a seller, Park Sienna LLC, as a seller, Countrywide, as a
seller, Countrywide Home Loans Servicing LP, as master servicer, CWALT, Inc.,
as depositor, and The Bank of New York, as trustee.

      (1) Park Granada is a limited liability company duly formed and validly
existing and in good standing under the laws of the State of Delaware.

      (2) Park Granada has the full corporate power and authority to sell each
Park Granada Mortgage Loan, and to execute, deliver and perform, and to enter
into and consummate the transactions contemplated by the Pooling and Servicing
Agreement and each Supplemental Transfer Agreement and has duly authorized by
all necessary corporate action on the part of Park Granada the execution,
delivery and performance of the Pooling and Servicing Agreement and each
Supplemental Transfer Agreement; and the Pooling and Servicing Agreement and
each Supplemental Transfer Agreement, assuming the due authorization,
execution and delivery thereof by the other parties thereto, constitutes a
legal, valid and binding obligation of Park Granada, enforceable against Park
Granada in accordance with its terms, except that (a) the enforceability
thereof may be limited by bankruptcy, insolvency, moratorium, receivership and
other similar laws relating to creditors' rights generally and (b) the remedy
of specific performance and injunctive and other forms of equitable relief may
be subject to equitable defenses and to the discretion of the court before
which any proceeding therefor may be brought.

      (3) The execution and delivery of the Pooling and Servicing Agreement
and each Supplemental Transfer Agreement by Park Granada, the sale of the Park
Granada Mortgage Loans by Park Granada under the Pooling and Servicing
Agreement and each Supplemental Transfer Agreement, the consummation of any
other of the transactions contemplated by the Pooling and Servicing Agreement,
and the fulfillment of or compliance with the terms thereof are in the
ordinary course of business of Park Granada and will not (A) result in a
material breach of any term or provision of the certificate of formation or
the limited liability company agreement of Park Granada or (B) materially
conflict with, result in a material breach, violation or acceleration of, or
result in a material default under, the terms of any other material agreement
or instrument to which Park Granada is a party or by which it may be bound, or
(C) constitute a material violation of any statute, order or regulation
applicable to Park Granada of any court,

                                    S-II-B-1
<PAGE>

regulatory body, administrative agency or governmental body having
jurisdiction over Park Granada; and Park Granada is not in breach or violation
of any material indenture or other material agreement or instrument, or in
violation of any statute, order or regulation of any court, regulatory body,
administrative agency or governmental body having jurisdiction over it which
breach or violation may materially impair Park Granada's ability to perform or
meet any of its obligations under the Pooling and Servicing Agreement.

      (4) No litigation is pending or, to the best of Park Granada's
knowledge, threatened, against Park Granada that would materially and
adversely affect the execution, delivery or enforceability of the Pooling and
Servicing Agreement or the ability of Park Granada to sell the Park Granada
Mortgage Loans or to perform any of its other obligations under the Pooling
and Servicing Agreement in accordance with the terms thereof.

      (5) No consent, approval, authorization or order of any court or
governmental agency or body is required for the execution, delivery and
performance by Park Granada of, or compliance by Park Granada with, the
Pooling and Servicing Agreement or the consummation of the transactions
contemplated thereby, or if any such consent, approval, authorization or order
is required, Park Granada has obtained the same.

      (6) Park Granada intends to treat the transfer of the Park Granada
Mortgage Loans to the Depositor as a sale of the Park Granada Mortgage Loans
for all tax, accounting and regulatory purposes.

                                    S-II-B-2
<PAGE>

                                  SCHEDULE II-C

                                   CWALT, Inc.

                       Mortgage Pass-Through Certificates

                                 Series 2007-OH1

                  Representations and Warranties of Park Monaco
                  ---------------------------------------------

      Park Monaco Inc. ("Park Monaco") and Countrywide Home Loans, Inc.
("Countrywide"), each hereby makes the representations and warranties set
forth in this Schedule II-C to the Depositor, the Master Servicer and the
Trustee, as of the Closing Date. Capitalized terms used but not otherwise
defined in this Schedule II-C shall have the meanings ascribed thereto in the
Pooling and Servicing Agreement (the "Pooling and Servicing Agreement")
relating to the above-referenced Series, among Park Monaco, as a seller,
Countrywide, as a seller, Park Granada LLC, as a seller, Park Sienna LLC, as a
seller, Countrywide Home Loans Servicing LP, as master servicer, CWALT, Inc.,
as depositor, and The Bank of New York, as trustee.

      (1) Park Monaco is a corporation duly formed and validly existing and in
good standing under the laws of the State of Delaware.

      (2) Park Monaco has the full corporate power and authority to sell each
Park Monaco Mortgage Loan, and to execute, deliver and perform, and to enter
into and consummate the transactions contemplated by the Pooling and Servicing
Agreement and each Supplemental Transfer Agreement and has duly authorized by
all necessary corporate action on the part of Park Monaco the execution,
delivery and performance of the Pooling and Servicing Agreement and each
Supplemental Transfer Agreement; and the Pooling and Servicing Agreement and
each Supplemental Transfer Agreement, assuming the due authorization,
execution and delivery thereof by the other parties thereto, constitutes a
legal, valid and binding obligation of Park Monaco, enforceable against Park
Monaco in accordance with its terms, except that (a) the enforceability
thereof may be limited by bankruptcy, insolvency, moratorium, receivership and
other similar laws relating to creditors' rights generally and (b) the remedy
of specific performance and injunctive and other forms of equitable relief may
be subject to equitable defenses and to the discretion of the court before
which any proceeding therefor may be brought.

      (3) The execution and delivery of the Pooling and Servicing Agreement
and each Supplemental Transfer Agreement by Park Monaco, the sale of the Park
Monaco Mortgage Loans by Park Monaco under the Pooling and Servicing Agreement
and each Supplemental Transfer Agreement, the consummation of any other of the
transactions contemplated by the Pooling and Servicing Agreement and each
Supplemental Transfer Agreement, and the fulfillment of or compliance with the
terms thereof are in the ordinary course of business of Park Monaco and will
not (A) result in a material breach of any term or provision of the
certificate of incorporation or by-laws of Park Monaco or (B) materially
conflict with, result in a material breach, violation or acceleration of, or
result in a material default under, the terms of any other material agreement
or instrument to which Park Monaco is a party or by which it may be bound, or
(C) constitute a material violation of any statute, order or regulation
applicable to Park

                                    S-II-C-1
<PAGE>

Monaco of any court, regulatory body, administrative agency or governmental
body having jurisdiction over Park Monaco; and Park Monaco is not in breach or
violation of any material indenture or other material agreement or instrument,
or in violation of any statute, order or regulation of any court, regulatory
body, administrative agency or governmental body having jurisdiction over it
which breach or violation may materially impair Park Monaco's ability to
perform or meet any of its obligations under the Pooling and Servicing
Agreement.

         (4) No litigation is pending or, to the best of Park Monaco's
knowledge, threatened, against Park Monaco that would materially and adversely
affect the execution, delivery or enforceability of the Pooling and Servicing
Agreement or the ability of Park Monaco to sell the Park Monaco Mortgage Loans
or to perform any of its other obligations under the Pooling and Servicing
Agreement in accordance with the terms thereof.

         (5) No consent, approval, authorization or order of any court or
governmental agency or body is required for the execution, delivery and
performance by Park Monaco of, or compliance by Park Monaco with, the Pooling
and Servicing Agreement or the consummation of the transactions contemplated
thereby, or if any such consent, approval, authorization or order is required,
Park Monaco has obtained the same.

         (6) Park Monaco intends to treat the transfer of the Park Monaco
Mortgage Loans to the Depositor as a sale of the Park Monaco Mortgage Loans for
all tax, accounting and regulatory purposes.

                                    S-II-C-2
<PAGE>

                                  SCHEDULE II-D

                                   CWALT, Inc.

                       Mortgage Pass-Through Certificates

                                 Series 2007-OH1

                  Representations and Warranties of Park Sienna
                  ---------------------------------------------

      Park Sienna LLC ("Park Sienna") and Countrywide Home Loans, Inc.
("Countrywide"), each hereby makes the representations and warranties set
forth in this Schedule II-D to the Depositor, the Master Servicer and the
Trustee, as of the Closing Date. Capitalized terms used but not otherwise
defined in this Schedule II-D shall have the meanings ascribed thereto in the
Pooling and Servicing Agreement (the "Pooling and Servicing Agreement")
relating to the above-referenced Series, among Park Sienna, as a seller,
Countrywide, as a seller, Park Granada LLC, as a seller, Park Monaco Inc., as
a seller, Countrywide Home Loans Servicing LP, as master servicer, CWALT,
Inc., as depositor, and The Bank of New York, as trustee.

      (1) Park Sienna is a limited liability company duly formed and validly
existing and in good standing under the laws of the State of Delaware.

      (2) Park Sienna has the full corporate power and authority to sell each
Park Sienna Mortgage Loan, and to execute, deliver and perform, and to enter
into and consummate the transactions contemplated by the Pooling and Servicing
Agreement and each Supplemental Transfer Agreement and has duly authorized by
all necessary corporate action on the part of Park Sienna the execution,
delivery and performance of the Pooling and Servicing Agreement and each
Supplemental Transfer Agreement; and the Pooling and Servicing Agreement and
each Supplemental Transfer Agreement, assuming the due authorization,
execution and delivery thereof by the other parties thereto, constitutes a
legal, valid and binding obligation of Park Sienna, enforceable against Park
Sienna in accordance with its terms, except that (a) the enforceability
thereof may be limited by bankruptcy, insolvency, moratorium, receivership and
other similar laws relating to creditors' rights generally and (b) the remedy
of specific performance and injunctive and other forms of equitable relief may
be subject to equitable defenses and to the discretion of the court before
which any proceeding therefor may be brought.

      (3) The execution and delivery of the Pooling and Servicing Agreement
and each Supplemental Transfer Agreement by Park Sienna, the sale of the Park
Sienna Mortgage Loans by Park Sienna under the Pooling and Servicing Agreement
and each Supplemental Transfer Agreement, the consummation of any other of the
transactions contemplated by the Pooling and Servicing Agreement, and the
fulfillment of or compliance with the terms thereof are in the ordinary course
of business of Park Sienna and will not (A) result in a material breach of any
term or provision of the certificate of formation or the limited liability
company agreement of Park Sienna or (B) materially conflict with, result in a
material breach, violation or acceleration of, or result in a material default
under, the terms of any other material agreement or instrument to which Park
Sienna is a party or by which it may be bound, or (C) constitute a material
violation of any statute, order or regulation applicable to Park Sienna of any
court, regulatory body, administrative agency or governmental body having
jurisdiction over Park Sienna; and

                                    S-II-D-1
<PAGE>

Park Sienna is not in breach or violation of any material indenture or other
material agreement or instrument, or in violation of any statute, order or
regulation of any court, regulatory body, administrative agency or
governmental body having jurisdiction over it which breach or violation may
materially impair Park Sienna's ability to perform or meet any of its
obligations under the Pooling and Servicing Agreement.

      (4) No litigation is pending or, to the best of Park Sienna's knowledge,
threatened, against Park Sienna that would materially and adversely affect the
execution, delivery or enforceability of the Pooling and Servicing Agreement
or the ability of Park Sienna to sell the Park Sienna Mortgage Loans or to
perform any of its other obligations under the Pooling and Servicing Agreement
in accordance with the terms thereof.

      (5) No consent, approval, authorization or order of any court or
governmental agency or body is required for the execution, delivery and
performance by Park Sienna of, or compliance by Park Sienna with, the Pooling
and Servicing Agreement or the consummation of the transactions contemplated
thereby, or if any such consent, approval, authorization or order is required,
Park Sienna has obtained the same.

      (6) Park Sienna intends to treat the transfer of the Park Sienna
Mortgage Loans to the Depositor as a sale of the Park Sienna Mortgage Loans
for all tax, accounting and regulatory purposes.

                                    S-II-D-2
<PAGE>

                                 SCHEDULE III-A

                                   CWALT, Inc.

                       Mortgage Pass-Through Certificates

                                 Series 2007-OH1

  Representations and Warranties of Countrywide as to all of the Mortgage Loans
  -----------------------------------------------------------------------------

      Countrywide Home Loans, Inc. ("Countrywide") hereby makes the
representations and warranties set forth in this Schedule III-A to the
Depositor, the Master Servicer and the Trustee, with respect to all of the
Initial Mortgage Loans as of the Closing Date, or if so specified herein, as
of the Initial Cut-off Date, and with respect to all of the Supplemental
Mortgage Loans as of the related Supplemental Transfer Date or if so specified
herein, as of the related Supplemental Cut-off Date. Capitalized terms used
but not otherwise defined in this Schedule III-A shall have the meanings
ascribed thereto in the Pooling and Servicing Agreement (the "Pooling and
Servicing Agreement") relating to the above-referenced Series, among
Countrywide, as a seller, Park Granada LLC, as a seller, Park Monaco Inc., as
a seller, Park Sienna LLC, as a seller, Countrywide Home Loans Servicing LP,
as master servicer, CWALT, Inc., as depositor, and The Bank of New York, as
trustee.

            (1) The information set forth on Schedule I to the Pooling and
Servicing Agreement with respect to each Initial Mortgage Loan is true and
correct in all material respects as of the Closing Date and with respect to
each Supplemental Mortgage Loan is true and correct in all material respects
as of the related Supplemental Transfer Date (in each case, other than the
information contained in clauses (xix), (xx) and (xxi) of the Mortgage Loan
Schedule).

            (2) As of the Closing Date, all payments with respect to each
Initial Mortgage Loan due prior to the Initial Cut-off Date have been made. As
of each Supplemental Transfer Date, all payments with respect to each related
Supplemental Mortgage Loan due prior to the related Supplemental Cut-off Date
have been made.

            (3) No Initial Mortgage Loan had a Loan-to-Value Ratio at
origination in excess of 100.00%.

            (4) Each Mortgage is a valid and enforceable first lien on the
Mortgaged Property subject only to (a) the lien of non delinquent current real
property taxes and assessments, (b) covenants, conditions and restrictions,
rights of way, easements and other matters of public record as of the date of
recording of such Mortgage, such exceptions appearing of record being
acceptable to mortgage lending institutions generally or specifically
reflected in the appraisal made in connection with the origination of the
related Mortgage Loan, and (c) other matters to which like properties are
commonly subject which do not materially interfere with the benefits of the
security intended to be provided by such Mortgage.

            (5) [Reserved].

                                    S-III-A-1
<PAGE>

            (6) There is no delinquent tax or assessment lien against any
Mortgaged Property.

            (7) There is no valid offset, defense or counterclaim to any
Mortgage Note or Mortgage, including the obligation of the Mortgagor to pay
the unpaid principal of or interest on such Mortgage Note.

            (8) There are no mechanics' liens or claims for work, labor or
material affecting any Mortgaged Property which are or may be a lien prior to,
or equal with, the lien of such Mortgage, except those which are insured
against by the title insurance policy referred to in item (12) below.

            (9) As of the Closing Date, to the best of Countrywide's
knowledge, each Mortgaged Property is free of material damage and in good
repair.

            (10) Each Mortgage Loan at origination complied in all material
respects with applicable local, state and federal laws, including, without
limitation, usury, equal credit opportunity, predatory and abusive lending
laws, real estate settlement procedures, truth-in-lending and disclosure laws,
and consummation of the transactions contemplated hereby will not involve the
violation of any such laws.

      (11) As of the Closing Date with respect to the Initial Mortgage Loans
and as of the related Supplemental Transfer Date with respect to the
Supplemental Mortgage Loans, neither the Sellers, neither Countrywide nor any
prior holder of any Mortgage has modified the Mortgage in any material respect
(except that a Mortgage Loan may have been modified by a written instrument
which has been recorded or submitted for recordation, if necessary, to protect
the interests of the Certificateholders and the original or a copy of which
has been delivered to the Trustee); satisfied, cancelled or subordinated such
Mortgage in whole or in part; released the related Mortgaged Property in whole
or in part from the lien of such Mortgage; or executed any instrument of
release, cancellation, modification or satisfaction with respect thereto.

      (12) A lender's policy of title insurance together with a condominium
endorsement, adjustable rate rider, negative amortization endorsement and
extended coverage endorsement, if applicable, in an amount at least equal to
the Cut-off Date Stated Principal Balance of each such Mortgage Loan or a
commitment (binder) to issue the same was effective on the date of the
origination of each Mortgage Loan, each such policy is valid and remains in
full force and effect, and each such policy was issued by a title insurer
qualified to do business in the jurisdiction where the Mortgaged Property is
located and acceptable to FNMA or FHLMC and is in a form acceptable to FNMA or
FHLMC, which policy insures Countrywide and successor owners of indebtedness
secured by the insured Mortgage, as to the first priority lien of the Mortgage
subject to the exceptions set forth in paragraph (4) above and against any
loss by reason of the invalidity or the unenforceability of the lien resulting
from the provisions of the Mortgage providing for adjustment of the mortgage
interest rate and/or the monthly payment including any negative amortization
thereunder. To the best of Countrywide's knowledge, no claims have been made
under such mortgage title insurance policy and no prior holder of the related
Mortgage, including Countrywide, has done, by act or omission, anything which
would impair the coverage of such mortgage title insurance policy.

                                    S-III-A-2
<PAGE>

      (13) With respect to each Mortgage Loan, all mortgage rate and payment
adjustments, if any, made on or prior to the Cut-off Date have been made in
accordance with the terms of the related Mortgage Note or subsequent
modifications, if any, and applicable law.

      (14) Each Mortgage Loan was originated (within the meaning of Section
3(a)(41) of the Securities Exchange Act of 1934, as amended) by an entity that
satisfied at the time of origination the requirements of Section 3(a)(41) of
the Securities Exchange Act of 1934, as amended.

      (15) To the best of Countrywide's knowledge, all of the improvements
which were included for the purpose of determining the Appraised Value of the
Mortgaged Property lie wholly within the boundaries and building restriction
lines of such property, and no improvements on adjoining properties encroach
upon the Mortgaged Property.

      (16) To the best of Countrywide's knowledge, no improvement located on
or being part of the Mortgaged Property is in violation of any applicable
zoning law or regulation. To the best of Countrywide's knowledge, all
inspections, licenses and certificates required to be made or issued with
respect to all occupied portions of the Mortgaged Property and, with respect
to the use and occupancy of the same, including but not limited to
certificates of occupancy and fire underwriting certificates, have been made
or obtained from the appropriate authorities, unless the lack thereof would
not have a material adverse effect on the value of such Mortgaged Property,
and the Mortgaged Property is lawfully occupied under applicable law.

      (17) Each Mortgage Note and the related Mortgage are genuine, and each
is the legal, valid and binding obligation of the maker thereof, enforceable
in accordance with its terms and under applicable law. To the best of
Countrywide's knowledge, all parties to the Mortgage Note and the Mortgage had
legal capacity to execute the Mortgage Note and the Mortgage and each Mortgage
Note and Mortgage have been duly and properly executed by such parties.

      (18) The proceeds of the Mortgage Loans have been fully disbursed, 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 or recording the Mortgage
Loans were paid.

      (19) The related Mortgage contains customary and enforceable provisions
which render the rights and remedies of the holder thereof adequate for the
realization against the Mortgaged Property of the benefits of the security,
including, (i) in the case of a Mortgage designated as a deed of trust, by
trustee's sale, and (ii) otherwise by judicial foreclosure.

      (20) With respect to each Mortgage constituting a deed of trust, a
trustee, duly qualified under applicable law to serve as such, has been
properly designated and currently so serves and is named in such Mortgage, and
no fees or expenses are or will become payable by the Certificateholders to
the trustee under the deed of trust, except in connection with a trustee's
sale after default by the Mortgagor.

                                    S-III-A-3
<PAGE>

      (21) Each Mortgage Note and each Mortgage is in substantially one of the
forms acceptable to FNMA or FHLMC, with such riders as have been acceptable to
FNMA or FHLMC, as the case may be.

      (22) There exist no deficiencies with respect to escrow deposits and
payments, if such are required, for which customary arrangements for repayment
thereof have not been made, and no escrow deposits or payments of other
charges or payments due Countrywide have been capitalized under the Mortgage
or the related Mortgage Note.

      (23) The origination, underwriting and collection practices used by
Countrywide with respect to each Mortgage Loan have been in all respects
legal, prudent and customary in the mortgage lending and servicing business.

      (24) There is no pledged account or other security other than real
estate securing the Mortgagor's obligations.

      (25) No Mortgage Loan has a shared appreciation feature, or other
contingent interest feature.

      (26) Each Mortgage Loan contains a customary "due on sale" clause.

      (27) As of the Closing Date, 53.52% of the Initial Mortgage Loans by
aggregate Stated Principal Balance of the Initial Mortgage Loans as of the
Cut-off Date, provide for a Prepayment Charge.

      (28) Generally, each Mortgage Loan that had a Loan-to-Value Ratio at
origination in excess of 80% is the subject of a Primary Insurance Policy that
insures that portion of the principal balance equal to a specified percentage
times the sum of the remaining principal balance of the related Mortgage Loan,
the accrued interest thereon and the related foreclosure expenses. The
specified coverage percentage for mortgage loans with terms to maturity
between 25 and 30 years is 12% for Loan-to-Value Ratios between 80.01% and
85.00%, 25% for Loan-to-Value Ratios between 85.01% and 90.00%, 30% for
Loan-to-Value Ratios between 90.01% and 95.00% and 35% for Loan-to-Value
Ratios between 95.01% and 100%. The specified coverage percentage for mortgage
loans with terms to maturity of up to 20 years ranges from 6% to 12% for
Loan-to-Value Ratios between 80.01% and 85.00%, from 12% to 20% for
Loan-to-Value Ratios between 85.01% and 90.00% and 20% to 25% for
Loan-to-Value Ratios between 90.01% and 95.00%. Each such Primary Insurance
Policy is issued by a Qualified Insurer. All provisions of any such Primary
Insurance Policy have been and are being complied with, any such policy is in
full force and effect, and all premiums due thereunder have been paid. Any
Mortgage subject to any such Primary Insurance Policy obligates either the
Mortgagor or the mortgagee thereunder to maintain such insurance and to pay
all premiums and charges in connection therewith, subject, in each case, to
the provisions of Section 3.09(b) of the Pooling and Servicing Agreement. The
Mortgage Rate for each Mortgage Loan is net of any such insurance premium.

      (29) As of the Closing Date or the related Supplemental Transfer Date,
as applicable, the improvements upon each Mortgaged Property are covered by a
valid and existing hazard insurance policy with a generally acceptable carrier
that provides for fire and extended

                                    S-III-A-4
<PAGE>

coverage and coverage for such other hazards as are customary in the area
where the Mortgaged Property is located in an amount which is at least equal
to the lesser of (i) the maximum insurable value of the improvements securing
such Mortgage Loan or (ii) the greater of (a) the outstanding principal
balance of the Mortgage Loan and (b) an amount such that the proceeds of such
policy shall be sufficient to prevent the Mortgagor and/or the mortgagee from
becoming a co-insurer. If the Mortgaged Property is a condominium unit, it is
included under the coverage afforded by a blanket policy for the condominium
unit. All such individual insurance policies and all flood policies referred
to in item (30) below contain a standard mortgagee clause naming Countrywide
or the original mortgagee, and its successors in interest, as mortgagee, and
Countrywide has received no notice that any premiums due and payable thereon
have not been paid; the Mortgage obligates the Mortgagor thereunder to
maintain all such insurance including flood insurance at the Mortgagor's cost
and expense, and upon the Mortgagor's failure to do so, authorizes the holder
of the Mortgage to obtain and maintain such insurance at the Mortgagor's cost
and expense and to seek reimbursement therefor from the Mortgagor.

      (30) If the Mortgaged Property is in an area identified in the Federal
Register by the Federal Emergency Management Agency as having special flood
hazards, a flood insurance policy in a form meeting the requirements of the
current guidelines of the Flood Insurance Administration is in effect with
respect to such Mortgaged Property with a generally acceptable carrier in an
amount representing coverage not less than the least of (A) the original
outstanding principal balance of the Mortgage Loan, (B) the minimum amount
required to compensate for damage or loss on a replacement cost basis, or (C)
the maximum amount of insurance that is available under the Flood Disaster
Protection Act of 1973, as amended.

      (31) To the best of Countrywide's knowledge, there is no proceeding
occurring, pending or threatened for the total or partial condemnation of the
Mortgaged Property.

      (32) There is no material monetary default existing under any Mortgage
or the related Mortgage Note and, to the best of Countrywide's knowledge,
there is no material 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 under the Mortgage or the related
Mortgage Note; and Countrywide has not waived any default, breach, violation
or event of acceleration.

      (33) Each Mortgaged Property is improved by a one- to four-family
residential dwelling including condominium units and dwelling units in PUDs,
which, to the best of Countrywide's knowledge, does not include cooperatives
or mobile homes and does not constitute other than real property under state
law.

      (34) Each Mortgage Loan is being master serviced by the Master Servicer.

      (35) Any future advances made prior to the Cut-off Date have been
consolidated with the outstanding principal amount secured by the Mortgage,
and the secured principal amount, as consolidated, bears a single interest
rate and single repayment term reflected on the Mortgage Loan Schedule. The
consolidated principal amount does not exceed the original principal amount of
the Mortgage Loan. The Mortgage Note does not permit or obligate the Master
Servicer to make future advances to the Mortgagor at the option of the
Mortgagor.

                                    S-III-A-5
<PAGE>

      (36) All taxes, governmental assessments, insurance premiums, water,
sewer and municipal charges, leasehold payments or ground rents which
previously became due and owing have been paid, or an escrow of funds has been
established in an amount sufficient to pay for every such item which remains
unpaid and which has been assessed, but is not yet due and payable. Except for
(A) payments in the nature of escrow payments, and (B) interest accruing from
the date of the Mortgage Note or date of disbursement of the Mortgage
proceeds, whichever is later, to the day which precedes by one month the Due
Period of the first installment of principal and interest, including without
limitation, taxes and insurance payments, the Master Servicer has not advanced
funds, or induced, solicited or knowingly received any advance of funds by a
party other than the Mortgagor, directly or indirectly, for the payment of any
amount required by the Mortgage.

      (37) Each Mortgage Loan was underwritten in all material respects in
accordance with the underwriting guidelines described in the Prospectus
Supplement.

      (38) Other than with respect to any Streamlined Documentation Mortgage
Loan as to which the loan-to-value ratio of the related Original Mortgage Loan
was less than 90% at the time of the origination of such Original Mortgage
Loan, prior to the approval of the Mortgage Loan application, an appraisal of
the related Mortgaged Property was obtained from a qualified appraiser, duly
appointed by the originator, 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; such appraisal is in a form acceptable to FNMA and FHLMC.

      (39) None of the Initial Mortgage Loans is a graduated payment mortgage
loan or a growing equity mortgage loan, and none of the Initial Mortgage Loans
is subject to a buydown or similar arrangement.

      (40) Any leasehold estate securing a Mortgage Loan has a term of not
less than five years in excess of the term of the related Mortgage Loan.

      (41) The Mortgage Loans were selected from among the outstanding
adjustable-rate one- to four-family mortgage loans in the portfolios of the
Sellers at the Closing Date as to which the representations and warranties
made as to the Mortgage Loans set forth in this Schedule III-A can be made.
Such selection was not made in a manner intended to adversely affect the
interests of Certificateholders.

      (42) Except for 0.00% of the Initial Mortgage Loans, by aggregate Stated
Principal Balance of the Initial Mortgage Loans as of the Cut-off Date, each
Mortgage Loan transferred and assigned to the Trustee on the Closing Date has
a payment date on or before June 1, 2007.

      (43) With respect to any Mortgage Loan as to which an affidavit has been
delivered to the Trustee certifying that the original Mortgage Note is a Lost
Mortgage Note, if such Mortgage Loan is subsequently in default, the
enforcement of such Mortgage Loan or of the related Mortgage by or on behalf
of the Trustee will not be materially adversely affected by the

                                    S-III-A-6
<PAGE>

absence of the original Mortgage Note. A "Lost Mortgage Note" is a Mortgage
Note the original of which was permanently lost or destroyed and has not been
replaced.

      (44) The Mortgage Loans, individually and in the aggregate, conform in
all material respects to the descriptions thereof in the Prospectus
Supplement.

      (45) No Mortgage Loan originated on or after October 1, 2002 through
March 6, 2003 is governed by the Georgia Fair Lending Act.

      (46) None of the Mortgage Loans are "high cost" loans as defined by
applicable predatory and abusive lending laws.

      (47) None of the Mortgage Loans are covered by the Home Ownership and
Equity Protection Act of 1994 ("HOEPA").

      (48) No Mortgage Loan is a "High-Cost Home Loan" as defined in the New
Jersey Home Ownership Act effective November 27, 2003 (N.J.S.A. 46:10B-22 et
seq.).

      (49) No Mortgage Loan is a "High-Cost Home Loan" as defined in the New
Mexico Home Loan Protection Act effective January 1, 2004 (N.M. Stat. Ann.
ss.ss. 58-21A-1 et seq.).

      (50) All of the Mortgage Loans were originated in compliance with all
applicable laws, including, but not limited to, all applicable anti-predatory
and abusive lending laws.

      (51) No Mortgage Loan is a High Cost Loan or Covered Loan, as
applicable, and with respect to the foregoing, the terms "High Cost Loan" and
"Covered Loan" have the meaning assigned to them in Standard & Poor's
LEVELS(R) Version 5.7 Glossary Revised, Appendix E which is attached hereto as
Exhibit O (the "Glossary") where (x) a "High Cost Loan" is each loan
identified in the column "Category under applicable anti-predatory lending
law" of the table entitled "Standard & Poor's High Cost Loan Categorization"
in the Glossary as each such loan is defined in the applicable anti-predatory
lending law of the State or jurisdiction specified in such table and (y) a
"Covered Loan" is each loan identified in the column "Category under
applicable anti-predatory lending law" of the table entitled "Standard &
Poor's Covered Loan Categorization" in the Glossary as each such loan is
defined in the applicable anti-predatory lending law of the State or
jurisdiction specified in such table.

                                    S-III-A-7
<PAGE>

                                 SCHEDULE III-B

                                   CWALT, Inc.

                       Mortgage Pass-Through Certificates

                                 Series 2007-OH1

             Representations and Warranties of Countrywide as to the
             -------------------------------------------------------
                           Countrywide Mortgage Loans
                           --------------------------

      Countrywide Home Loans, Inc. ("Countrywide") hereby makes the
representations and warranties set forth in this Schedule III-B to the
Depositor, the Master Servicer and the Trustee, with respect to the
Countrywide Mortgage Loans that are Initial Mortgage Loans as of the Closing
Date, and with respect to Countrywide Mortgage Loans that are Supplemental
Mortgage Loans, as of the related Supplemental Transfer Date. Capitalized
terms used but not otherwise defined in this Schedule III-B shall have the
meanings ascribed thereto in the Pooling and Servicing Agreement (the "Pooling
and Servicing Agreement") relating to the above-referenced Series, among
Countrywide, as a seller, Park Granada LLC, as a seller, Park Monaco Inc., as
a seller, Park Sienna LLC, as a seller, Countrywide Home Loans Servicing LP,
as master servicer, CWALT, Inc., as depositor, and The Bank of New York, as
trustee.

      (1) Immediately prior to the assignment of each Countrywide Mortgage
Loan to the Depositor, Countrywide had good title to, and was the sole owner
of, such Countrywide Mortgage Loan free and clear of any pledge, lien,
encumbrance or security interest and had full right and authority, subject to
no interest or participation of, or agreement with, any other party, to sell
and assign the same pursuant to the Pooling and Servicing Agreement.

                                    S-III-B-1
<PAGE>

                                 SCHEDULE III-C

                                   CWALT, Inc.

                       Mortgage Pass-Through Certificates

                                 Series 2007-OH1

            Representations and Warranties of Park Granada as to the
            --------------------------------------------------------
                           Park Granada Mortgage Loans
                           ---------------------------

      Park Granada LLC ("Park Granada") hereby makes the representations and
warranties set forth in this Schedule III-C to the Depositor, the Master
Servicer and the Trustee, with respect to the Park Granada Mortgage Loans that
are Initial Mortgage Loans as of the Closing Date, and with respect to Park
Granada Mortgage Loans that are Supplemental Mortgage Loans, as of the related
Supplemental Transfer Date. Capitalized terms used but not otherwise defined
in this Schedule III-C shall have the meanings ascribed thereto in the Pooling
and Servicing Agreement (the "Pooling and Servicing Agreement") relating to
the above-referenced Series, among Countrywide Home Loans, Inc., as a seller,
Park Granada LLC, as a seller, Park Monaco Inc., as a seller, Park Sienna LLC,
as a seller, Countrywide Home Loans Servicing LP, as master servicer, CWALT,
Inc., as depositor, and The Bank of New York, as trustee.

      (1) Immediately prior to the assignment of each Park Granada Mortgage
Loan to the Depositor, Park Granada had good title to, and was the sole owner
of, such Park Granada Mortgage Loan free and clear of any pledge, lien,
encumbrance or security interest and had full right and authority, subject to
no interest or participation of, or agreement with, any other party, to sell
and assign the same pursuant to the Pooling and Servicing Agreement.

                                    S-III-C-1
<PAGE>

                                 SCHEDULE III-D

                                   CWALT, Inc.

                       Mortgage Pass-Through Certificates

                                 Series 2007-OH1

             Representations and Warranties of Park Monaco as to the
             -------------------------------------------------------
                           Park Monaco Mortgage Loans
                           --------------------------

      Park Monaco Inc. ("Park Monaco") hereby makes the representations and
warranties set forth in this Schedule III-D to the Depositor, the Master
Servicer and the Trustee, with respect to the Park Monaco Mortgage Loans that
are Initial Mortgage Loans as of the Closing Date, and with respect to Park
Monaco Mortgage Loans that are Supplemental Mortgage Loans, as of the related
Supplemental Transfer Date. Capitalized terms used but not otherwise defined
in this Schedule III-D shall have the meanings ascribed thereto in the Pooling
and Servicing Agreement (the "Pooling and Servicing Agreement") relating to
the above-referenced Series, among Countrywide Home Loans, Inc., as a seller,
Park Monaco, as a seller, Park Granada LLC, as a seller, Park Sienna LLC, as a
seller, Countrywide Home Loans Servicing LP, as master servicer, CWALT, Inc.,
as depositor, and The Bank of New York, as trustee.

      (1) Immediately prior to the assignment of each Park Monaco Mortgage
Loan to the Depositor, Park Monaco had good title to, and was the sole owner
of, such Park Monaco Mortgage Loan free and clear of any pledge, lien,
encumbrance or security interest and had full right and authority, subject to
no interest or participation of, or agreement with, any other party, to sell
and assign the same pursuant to the Pooling and Servicing Agreement.

                                    S-III-D-1
<PAGE>

                                 SCHEDULE III-E

                                   CWALT, Inc.

                       Mortgage Pass-Through Certificates

                                 Series 2007-OH1

             Representations and Warranties of Park Sienna as to the
             -------------------------------------------------------
                           Park Sienna Mortgage Loans
                           --------------------------

      Park Sienna LLC ("Park Sienna") hereby makes the representations and
warranties set forth in this Schedule III-E to the Depositor, the Master
Servicer and the Trustee, with respect to the Park Sienna Mortgage Loans that
are Initial Mortgage Loans as of the Closing Date, and with respect to Park
Sienna Mortgage Loans that are Supplemental Mortgage Loans, as of the related
Supplemental Transfer Date. Capitalized terms used but not otherwise defined
in this Schedule III-E shall have the meanings ascribed thereto in the Pooling
and Servicing Agreement (the "Pooling and Servicing Agreement") relating to
the above-referenced Series, among Countrywide Home Loans, Inc., as a seller,
Park Sienna LLC, as a seller, Park Monaco Inc., as a seller, Park Granada LLC,
as a seller, Countrywide Home Loans Servicing LP, as master servicer, CWALT,
Inc., as depositor, and The Bank of New York, as trustee.

      (1) Immediately prior to the assignment of each Park Sienna Mortgage
Loan to the Depositor, Park Sienna had good title to, and was the sole owner
of, such Park Sienna Mortgage Loan free and clear of any pledge, lien,
encumbrance or security interest and had full right and authority, subject to
no interest or participation of, or agreement with, any other party, to sell
and assign the same pursuant to the Pooling and Servicing Agreement.

                                    S-III-E-1
<PAGE>

                                   SCHEDULE IV

                                   CWALT, Inc.

                       Mortgage Pass-Through Certificates

                                 Series 2007-OH1

              Representations and Warranties of the Master Servicer
              -----------------------------------------------------

      Countrywide Home Loans Servicing LP ("Countrywide Servicing") hereby
makes the representations and warranties set forth in this Schedule IV to the
Depositor, the Sellers and the Trustee, as of the Closing Date. Capitalized
terms used but not otherwise defined in this Schedule IV shall have the
meanings ascribed thereto in the Pooling and Servicing Agreement (the "Pooling
and Servicing Agreement") relating to the above-referenced Series, among
Countrywide Home Loans, Inc., as a seller, Park Granada LLC, as a seller, Park
Monaco Inc., as a seller, Park Sienna LLC, as a seller, Countrywide Home Loans
Servicing LP, as master servicer, CWALT, Inc., as depositor, and The Bank of
New York, as trustee.

            (1) Countrywide Servicing is duly organized as a limited
partnership and is validly existing and in good standing under the laws of the
State of Texas and is duly authorized and qualified to transact any and all
business contemplated by the Pooling and Servicing Agreement to be conducted
by Countrywide Servicing in any state in which a Mortgaged Property is located
or is otherwise not required under applicable law to effect such qualification
and, in any event, is in compliance with the doing business laws of any such
state, to the extent necessary to perform any of its obligations under the
Pooling and Servicing Agreement in accordance with the terms thereof.

            (2) Countrywide Servicing has the full partnership power and
authority to service each Mortgage Loan, and to execute, deliver and perform,
and to enter into and consummate the transactions contemplated by the Pooling
and Servicing Agreement and has duly authorized by all necessary partnership
action on the part of Countrywide Servicing the execution, delivery and
performance of the Pooling and Servicing Agreement; and the Pooling and
Servicing Agreement, assuming the due authorization, execution and delivery
thereof by the other parties thereto, constitutes a legal, valid and binding
obligation of Countrywide Servicing, enforceable against Countrywide Servicing
in accordance with its terms, except that (a) the enforceability thereof may
be limited by bankruptcy, insolvency, moratorium, receivership and other
similar laws relating to creditors' rights generally and (b) the remedy of
specific performance and injunctive and other forms of equitable relief may be
subject to equitable defenses and to the discretion of the court before which
any proceeding therefor may be brought.

            (3) The execution and delivery of the Pooling and Servicing
Agreement by Countrywide Servicing, the servicing of the Mortgage Loans by
Countrywide Servicing under the Pooling and Servicing Agreement, the
consummation of any other of the transactions contemplated by the Pooling and
Servicing Agreement, and the fulfillment of or compliance with the terms
thereof are in the ordinary course of business of Countrywide Servicing and
will not (A) result in a material breach of any term or provision of the
certificate of limited partnership, partnership agreement or other
organizational document of Countrywide Servicing or

                                     S-IV-1
<PAGE>

(B) materially conflict with, result in a material breach, violation or
acceleration of, or result in a material default under, the terms of any other
material agreement or instrument to which Countrywide Servicing is a party or
by which it may be bound, or (C) constitute a material violation of any
statute, order or regulation applicable to Countrywide Servicing of any court,
regulatory body, administrative agency or governmental body having
jurisdiction over Countrywide Servicing; and Countrywide Servicing is not in
breach or violation of any material indenture or other material agreement or
instrument, or in violation of any statute, order or regulation of any court,
regulatory body, administrative agency or governmental body having
jurisdiction over it which breach or violation may materially impair the
ability of Countrywide Servicing to perform or meet any of its obligations
under the Pooling and Servicing Agreement.

            (4) Countrywide Servicing is an approved servicer of conventional
mortgage loans for FNMA or FHLMC and is a mortgagee approved by the Secretary
of Housing and Urban Development pursuant to sections 203 and 211 of the
National Housing Act.

            (5) No litigation is pending or, to the best of Countrywide
Servicing's knowledge, threatened, against Countrywide Servicing that would
materially and adversely affect the execution, delivery or enforceability of
the Pooling and Servicing Agreement or the ability of Countrywide Servicing to
service the Mortgage Loans or to perform any of its other obligations under
the Pooling and Servicing Agreement in accordance with the terms thereof.

            (6) No consent, approval, authorization or order of any court or
governmental agency or body is required for the execution, delivery and
performance by Countrywide Servicing of, or compliance by Countrywide
Servicing with, the Pooling and Servicing Agreement or the consummation of the
transactions contemplated thereby, or if any such consent, approval,
authorization or order is required, Countrywide Servicing has obtained the
same.

            (7) Countrywide Servicing 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.

                                     S-IV-2
<PAGE>

                                   SCHEDULE V

                           Principal Balance Schedules

              *[Attached to Prospectus Supplement, if applicable.]

                                      S-V-1
<PAGE>

<TABLE>
<CAPTION>
                                                          SCHEDULE VI
                                             Form of Monthly Master Servicer Report
==============================================================================================================================
                                                  LOAN LEVEL REPORTING SYSTEM
------------------------------------------------------------------------------------------------------------------------------
                                                       DATABASE STRUCTURE
------------------------------------------------------------------------------------------------------------------------------
                                                         [MONTH, YEAR]
------------------------------------------------------------------------------------------------------------------------------
  Field Number               Field Name                   Field Type                     Field Width             Dec
------------------------------------------------------------------------------------------------------------------------------
<S>                      <C>                          <C>                                      <C>               <C>
        1                INVNUM                       Numeric                                   4
------------------------------------------------------------------------------------------------------------------------------
        2                INVBLK                       Numeric                                   4
------------------------------------------------------------------------------------------------------------------------------
        3                INACNU                       Character                                 8
------------------------------------------------------------------------------------------------------------------------------
        4                BEGSCH                       Numeric                                  15                2
------------------------------------------------------------------------------------------------------------------------------
        5                SCHPRN                       Numeric                                  13                2
------------------------------------------------------------------------------------------------------------------------------
        6                TADPRN                       Numeric                                  11                2
------------------------------------------------------------------------------------------------------------------------------
        7                LIQEPB                       Numeric                                  11                2
------------------------------------------------------------------------------------------------------------------------------
        8                ACTCOD                       Numeric                                  11
------------------------------------------------------------------------------------------------------------------------------
        9                ACTDAT                       Numeric                                   4
------------------------------------------------------------------------------------------------------------------------------
        10               INTPMT                       Numeric                                   8
------------------------------------------------------------------------------------------------------------------------------
        11               PRNPMT                       Numeric                                  13                2
------------------------------------------------------------------------------------------------------------------------------
        12               ENDSCH                       Numeric                                  13                2
------------------------------------------------------------------------------------------------------------------------------
        13               SCHNOT                       Numeric                                  13                2
------------------------------------------------------------------------------------------------------------------------------
        14               SCHPAS                       Numeric                                   7                3
------------------------------------------------------------------------------------------------------------------------------
        15               PRINPT                       Numeric                                   7                3
------------------------------------------------------------------------------------------------------------------------------
        16               PRIBAL                       Numeric                                  11                2
------------------------------------------------------------------------------------------------------------------------------
        17               LPIDTE                       Numeric                                  13                2
------------------------------------------------------------------------------------------------------------------------------
        18               DELPRN                       Numeric                                   7
------------------------------------------------------------------------------------------------------------------------------
        19               PPDPRN                       Numeric                                  11                2
------------------------------------------------------------------------------------------------------------------------------
        20               DELPRN                       Numeric                                  11                2
------------------------------------------------------------------------------------------------------------------------------
        21               NXTCHG                       Numeric                                   8
------------------------------------------------------------------------------------------------------------------------------
        22               ARMNOT                       Numeric                                   7                3
------------------------------------------------------------------------------------------------------------------------------
        23               ARMPAS                       Numeric                                   7                3
------------------------------------------------------------------------------------------------------------------------------
        24               ARMPMT                       Numeric                                  11                2
------------------------------------------------------------------------------------------------------------------------------
        25               ZZTYPE                       Character                                 2
------------------------------------------------------------------------------------------------------------------------------
        26               ISSUID                       Character                                 1
------------------------------------------------------------------------------------------------------------------------------
        27               KEYNAME                      Character                                 8
------------------------------------------------------------------------------------------------------------------------------
TOTAL                                                                                         240
------------------------------------------------------------------------------------------------------------------------------
  Suggested Format:      DBASE file
                         Modem transmission
==============================================================================================================================
</TABLE>

                                                             S-VI-1

<PAGE>

                                    EXHIBIT A

                          [FORM OF SENIOR CERTIFICATE]

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO ISSUER OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]

[SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT," AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE
OF 1986, AS AMENDED (THE "CODE").]

[UNTIL THIS CERTIFICATE HAS BEEN THE SUBJECT OF AN ERISA-QUALIFYING
UNDERWRITING, NEITHER THIS CERTIFICATE NOR ANY INTEREST HEREIN MAY BE
TRANSFERRED UNLESS THE TRANSFEREE DELIVERS TO THE TRUSTEE EITHER (A) A
REPRESENTATION LETTER TO THE EFFECT THAT SUCH TRANSFEREE IS NOT, AND IS NOT
INVESTING ASSETS OF, AN EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE
RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR A PLAN OR
ARRANGEMENT SUBJECT TO SECTION 4975 OF THE CODE, OR (B) AN OPINION OF COUNSEL
IN ACCORDANCE WITH THE PROVISIONS OF THE AGREEMENT REFERRED TO HEREIN.  SUCH
REPRESENTATION SHALL BE DEEMED TO HAVE BEEN MADE TO THE TRUSTEE BY THE
TRANSFEREE'S ACCEPTANCE OF A CERTIFICATE OF THIS CLASS AND BY A BENEFICIAL
OWNER'S ACCEPTANCE OF ITS INTEREST IN A CERTIFICATE OF THIS CLASS.
NOTWITHSTANDING ANYTHING ELSE TO THE CONTRARY HEREIN, UNTIL THIS CERTIFICATE
HAS BEEN THE SUBJECT OF AN ERISA-QUALIFYING UNDERWRITING, ANY PURPORTED
TRANSFER OF THIS CERTIFICATE TO, OR TO A PERSON INVESTING ASSETS OF, AN
EMPLOYEE BENEFIT PLAN SUBJECT TO ERISA OR A PLAN OR ARRANGEMENT SUBJECT TO
SECTION 4975 OF THE CODE WITHOUT THE OPINION OF COUNSEL SATISFACTORY TO THE
TRUSTEE AS DESCRIBED ABOVE SHALL BE VOID AND OF NO EFFECT.]

                                       A-1
<PAGE>

Certificate No.             :

Cut-off Date                :

First Distribution Date     :

Initial Certificate Balance
of this Certificate
("Denomination")            :     $

Initial Certificate Balance
of all Certificates of
this Class                  :     $

CUSIP                       :

ISIN                        :

Interest Rate               :

Maturity Date               :

                                   CWALT, INC.
             Mortgage Pass-Through Certificates, Series 200____-____
                                                                    -
                                   Class [   ]

      evidencing a percentage interest in the distributions allocable
      to the Certificates of the above-referenced Class with respect to
      a Trust Fund consisting primarily of a pool of conventional
      mortgage loans (the "Mortgage Loans") secured by first liens on
      one- to four-family residential properties

                            CWALT, Inc., as Depositor

      Principal in respect of this Certificate is distributable monthly as set
forth herein. Accordingly, the Certificate Balance at any time may be less than
the Certificate Balance as set forth herein. This Certificate does not evidence
an obligation of, or an interest in, and is not guaranteed by the Depositor, the
Sellers, the Master Servicer or the Trustee referred to below or any of their
respective affiliates. Neither this Certificate nor the Mortgage Loans are
guaranteed or insured by any governmental agency or instrumentality.

                                       A-2
<PAGE>

      This certifies that __________ is the registered owner of the Percentage
Interest evidenced by this Certificate (obtained by dividing the denomination of
this Certificate by the aggregate Initial Certificate Balance of all
Certificates of the Class to which this Certificate belongs) in certain monthly
distributions with respect to a Trust Fund consisting primarily of the Mortgage
Loans deposited by CWALT, Inc. (the "Depositor"). The Trust Fund was created
pursuant to a Pooling and Servicing Agreement dated as of the Cut-off Date
specified above (the "Agreement") among the Depositor, Countrywide Home Loans,
Inc., as a seller ("CHL"), Park Granada LLC, as a seller ("Park Granada"), Park
Monaco, Inc., as a seller ("Park Monaco"), and Park Sienna LLC, as a seller
("Park Sienna" and, together with CHL, Park Granada and Park Monaco, the
"Sellers"), Countrywide Home Loans Servicing LP, as master servicer (the "Master
Servicer"), and The Bank of New York, as trustee (the "Trustee"). To the extent
not defined herein, the capitalized terms used herein have the meanings assigned
in the Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.

      [Until this certificate has been the subject of an ERISA-Qualifying
Underwriting, no transfer of a Certificate of this Class shall be made unless
the Trustee shall have received either (i) a representation letter from the
transferee of such Certificate, acceptable to and in form and substance
satisfactory to the Trustee, to the effect that such transferee is not an
employee benefit plan subject to Section 406 of ERISA or a plan or arrangement
subject to Section 4975 of the Code, or a person acting on behalf of or
investing plan assets of any such benefit plan or arrangement, which
representation letter shall not be an expense of the Trustee, the Master
Servicer or the Trust Fund, or (ii) in the case of any such Certificate
presented for registration in the name of an employee benefit plan subject to
ERISA or a plan or arrangement subject to Section 4975 of the Code (or
comparable provisions of any subsequent enactments), a trustee of any such
benefit plan or arrangement or any other person acting on behalf of any such
benefit plan or arrangement, an Opinion of Counsel satisfactory to the Trustee
to the effect that the purchase and holding of such Certificate will not result
in a non-exempt prohibited transaction under Section 406 of ERISA or Section
4975 of the Code, and will not subject the Trustee or the Master Servicer to any
obligation in addition to those undertaken in the Agreement, which Opinion of
Counsel shall not be an expense of the Trustee, the Master Servicer or the Trust
Fund. Unless the transferee delivers the Opinion of Counsel described above,
such representation shall be deemed to have been made to the Trustee by the
Transferee's acceptance of a Certificate of this Class and by a beneficial
owner's acceptance of its interest in a Certificate of this Class.
Notwithstanding anything else to the contrary herein, until such certificate has
been the subject of an ERISA-Qualifying Underwriting, any purported transfer of
a Certificate of this Class to, or to a person investing assets of, an employee
benefit plan subject to ERISA or a plan or arrangement subject to Section 4975
of the Code without the opinion of counsel satisfactory to the Trustee as
described above shall be void and of no effect.]

      Reference is hereby made to the further provisions of this Certificate set
forth on the reverse hereof, which further provisions shall for all purposes
have the same effect as if set forth at this place.

                                       A-3
<PAGE>

      This Certificate shall not be entitled to any benefit under the
Agreement or be valid for any purpose unless manually countersigned by an
authorized signatory of the Trustee.

                                   *    *    *

                                       A-4
<PAGE>

      IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

Dated:  ____________, 20__

                                  THE BANK OF NEW YORK,
                                  as Trustee

                                  By ______________________

Countersigned:

By
   ------------------------------
      Authorized Signatory of
      THE BANK OF NEW YORK,
      as Trustee

                                       A-5
<PAGE>

                                    EXHIBIT B

                       [FORM OF SUBORDINATED CERTIFICATE]

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO ISSUER OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT," AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE
OF 1986, AS AMENDED (THE "CODE").

THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO CERTAIN CERTIFICATES
AS DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "ACT").  ANY RESALE OR TRANSFER OF THIS CERTIFICATE WITHOUT
REGISTRATION THEREOF UNDER THE ACT MAY ONLY BE MADE IN A TRANSACTION EXEMPTED
FROM THE REGISTRATION REQUIREMENTS OF THE ACT AND IN ACCORDANCE WITH THE
PROVISIONS OF THE AGREEMENT REFERRED TO HEREIN.

[NEITHER THIS CERTIFICATE NOR ANY INTEREST HEREIN MAY BE TRANSFERRED UNLESS
THE TRANSFEREE DELIVERS TO THE TRUSTEE EITHER (A) A REPRESENTATION LETTER TO
THE EFFECT THAT (i) SUCH TRANSFEREE IS NOT AN EMPLOYEE BENEFIT PLAN SUBJECT
TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"),
A PLAN OR ARRANGEMENT SUBJECT TO SECTION 4975 OF THE CODE, OR A PERSON ACTING
ON BEHALF OF OR INVESTING THE ASSETS OF SUCH A BENEFIT PLAN OR ARRANGEMENT TO
EFFECT THE TRANSFER, OR (ii) IF SUCH CERTIFICATE HAS BEEN THE SUBJECT OF AN
ERISA-QUALIFYING UNDERWRITING AND THE TRANSFEREE IS AN INSURANCE COMPANY, A
REPRESENTATION THAT THE TRANSFEREE IS PURCHASING SUCH CERTIFICATE WITH FUNDS
CONTAINED IN AN  "INSURANCE COMPANY GENERAL ACCOUNT" AS SUCH TERM IS DEFINED
IN SECTION V(e) OF PROHIBITED TRANSACTION CLASS EXEMPTION ("PTCE") 95-60, AND
THE

                                       B-1
<PAGE>

PURCHASE AND HOLDING OF THE CERTIFICATE SATISFY THE REQUIREMENTS FOR EXEMPTIVE
RELIEF UNDER SECTIONS I AND III OF PTCE 95-60, OR (B) AN OPINION OF COUNSEL IN
ACCORDANCE WITH THE PROVISIONS OF THE AGREEMENT REFERRED TO HEREIN.
NOTWITHSTANDING ANYTHING ELSE TO THE CONTRARY HEREIN, ANY PURPORTED TRANSFER OF
THIS CERTIFICATE TO OR ON BEHALF OF AN EMPLOYEE BENEFIT PLAN SUBJECT TO ERISA OR
A PLAN OR ARRANGEMENT SUBJECT TO SECTION 4975 OF THE CODE WITHOUT THE OPINION OF
COUNSEL SATISFACTORY TO THE TRUSTEE AS DESCRIBED ABOVE SHALL BE VOID AND OF NO
EFFECT.]

                                       B-2
<PAGE>

Certificate No.             :

Cut-off Date                :

First Distribution Date     :

Initial Certificate Balance
of this Certificate
("Denomination")            :     $

Initial Certificate Balance
of all Certificates of
this Class                  :     $

CUSIP                       :

ISIN                        :

Interest Rate               :

Maturity Date               :

                                   CWALT, INC.
             Mortgage Pass-Through Certificates, Series 200____-____
                                    Class [ ]

      evidencing a percentage interest in the distributions allocable
      to the Certificates of the above-referenced Class with respect to
      a Trust Fund consisting primarily of a pool of conventional
      mortgage loans (the "Mortgage Loans") secured by first liens on
      one- to four-family residential properties

                            CWALT, Inc., as Depositor

      Principal in respect of this Certificate is distributable monthly as set
forth herein. Accordingly, the Certificate Balance at any time may be less than
the Certificate Balance as set forth herein. This Certificate does not evidence
an obligation of, or an interest in, and is not guaranteed by the Depositor, the
Sellers, the Master Servicer or the Trustee referred to below or any of their
respective affiliates. Neither this Certificate nor the Mortgage Loans are
guaranteed or insured by any governmental agency or instrumentality.

                                       B-3
<PAGE>

      This certifies that ___________ is the registered owner of the Percentage
Interest evidenced by this Certificate (obtained by dividing the denomination of
this Certificate by the aggregate Initial Certificate Balance of all
Certificates of the Class to which this Certificate belongs) in certain monthly
distributions with respect to a Trust Fund consisting primarily of the Mortgage
Loans deposited by CWALT, Inc. (the "Depositor"). The Trust Fund was created
pursuant to a Pooling and Servicing Agreement dated as of the Cut-off Date
specified above (the "Agreement") among the Depositor, Countrywide Home Loans,
Inc., as a seller ("CHL"), Park Granada LLC, as a seller ("Park Granada"), Park
Monaco, Inc., as a seller ("Park Monaco"), and Park Sienna LLC, as a seller
("Park Sienna" and, together with CHL, Park Granada and Park Monaco, the
"Sellers"), Countrywide Home Loans Servicing LP, as master servicer (the "Master
Servicer"), and The Bank of New York, as trustee (the "Trustee"). To the extent
not defined herein, the capitalized terms used herein have the meanings assigned
in the Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.

      [No transfer of a Certificate of this Class shall be made unless such
transfer is made pursuant to an effective registration statement under the
Securities Act and any applicable state securities laws or is exempt from the
registration requirements under said Act and such laws. In the event that a
transfer is to be made in reliance upon an exemption from the Securities Act and
such laws, in order to assure compliance with the Securities Act and such laws,
the Certificateholder desiring to effect such transfer and such
Certificateholder's prospective transferee shall each certify to the Trustee in
writing the facts surrounding the transfer. In the event that such a transfer is
to be made within three years from the date of the initial issuance of
Certificates pursuant hereto, there shall also be delivered (except in the case
of a transfer pursuant to Rule 144A of the Securities Act) to the Trustee an
Opinion of Counsel that such transfer may be made pursuant to an exemption from
the Securities Act and such state securities laws, which Opinion of Counsel
shall not be obtained at the expense of the Trustee, the Sellers, the Master
Servicer or the Depositor. The Holder hereof desiring to effect such transfer
shall, and does hereby agree to, indemnify the Trustee and the Depositor against
any liability that may result if the transfer is not so exempt or is not made in
accordance with such federal and state laws.]

      [No transfer of a Certificate of this Class shall be made unless the
Trustee shall have received either (i) a representation letter from the
transferee of such Certificate, acceptable to and in form and substance
satisfactory to the Trustee, to the effect that such transferee is not an
employee benefit plan subject to Section 406 of ERISA or a plan or arrangement
subject to Section 4975 of the Code, or a person acting on behalf of or
investing plan assets of any such benefit plan or arrangement, which
representation letter shall not be an expense of the Trustee, the Master
Servicer or the Trust Fund, (ii) if such certificate has been the subject of an
ERISA-Qualifying Underwriting and the transferee is an insurance company, a
representation that the transferee is purchasing such Certificate with funds
contained in an "insurance company general account" (as such term is defined in
Section V(e) of Prohibited Transaction Class Exemption 95-60 ("PTCE 95-60")) and
that the purchase and holding of such Certificate satisfy the

                                       B-4
<PAGE>

requirements for exemptive relief under Sections I and III of PTCE 95-60, or
(iii) in the case of any such Certificate presented for registration in the name
of an employee benefit plan subject to ERISA or a plan or arrangement subject to
Section 4975 of the Code (or comparable provisions of any subsequent
enactments), a trustee of any such benefit plan or arrangement or any other
person acting on behalf of any such benefit plan or arrangement, an Opinion of
Counsel satisfactory to the Trustee to the effect that the purchase and holding
of such Certificate will not result in a prohibited transaction under Section
406 of ERISA or Section 4975 of the Code, and will not subject the Trustee or
the Master Servicer to any obligation in addition to those undertaken in the
Agreement, which Opinion of Counsel shall not be an expense of the Trustee, the
Master Servicer or the Trust Fund. Notwithstanding anything else to the contrary
herein, any purported transfer of a Certificate of this Class to or on behalf of
an employee benefit plan subject to ERISA or a plan or arrangement subject to
Section 4975 of the Code without the opinion of counsel satisfactory to the
Trustee as described above shall be void and of no effect.]

      Reference is hereby made to the further provisions of this Certificate set
forth on the reverse hereof, which further provisions shall for all purposes
have the same effect as if set forth at this place.

      This Certificate shall not be entitled to any benefit under the Agreement
or be valid for any purpose unless manually countersigned by an authorized
signatory of the Trustee.

                                      * * *

                                       B-5
<PAGE>

      IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

Dated:  ____________, 20__

                                   THE BANK OF NEW YORK,
                                   as Trustee

                                   By ______________________

Countersigned:

By
   -----------------------------
      Authorized Signatory of
      THE BANK OF NEW YORK,
      as Trustee

                                       B-6
<PAGE>

                                   EXHIBIT C-1

                         [FORM OF RESIDUAL CERTIFICATE]

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "RESIDUAL
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT," AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED (THE "CODE").

NEITHER THIS CERTIFICATE NOR ANY INTEREST HEREIN MAY BE TRANSFERRED UNLESS THE
PROPOSED TRANSFEREE DELIVERS TO THE TRUSTEE A TRANSFER AFFIDAVIT IN ACCORDANCE
WITH THE PROVISIONS OF THE AGREEMENT REFERRED TO HEREIN.

NEITHER THIS CERTIFICATE NOR ANY INTEREST HEREIN MAY BE TRANSFERRED UNLESS THE
TRANSFEREE DELIVERS TO THE TRUSTEE EITHER (A) A REPRESENTATION LETTER TO THE
EFFECT THAT (i) SUCH TRANSFEREE IS NOT AN EMPLOYEE BENEFIT PLAN SUBJECT TO THE
EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), A PLAN OR
ARRANGEMENT SUBJECT TO SECTION 4975 OF THE CODE, OR A PERSON ACTING ON BEHALF OF
OR INVESTING THE ASSETS OF SUCH A BENEFIT PLAN OR ARRANGEMENT TO EFFECT THE
TRANSFER, OR (ii) IF SUCH CERTIFICATE HAS BEEN THE SUBJECT OF AN
ERISA-QUALIFYING UNDERWRITING AND THE TRANSFEREE IS AN INSURANCE COMPANY, A
REPRESENTATION THAT THE TRANSFEREE IS PURCHASING SUCH CERTIFICATE WITH FUNDS
CONTAINED IN AN "INSURANCE COMPANY GENERAL ACCOUNT" AS SUCH TERM IS DEFINED IN
SECTION V(e) OF PROHIBITED TRANSACTION CLASS EXEMPTION ("PTCE") 95-60, AND THE
PURCHASE AND HOLDING OF THE CERTIFICATE SATISFY THE REQUIREMENTS FOR EXEMPTIVE
RELIEF UNDER SECTIONS I AND III OF PTCE 95-60, OR (B) AN OPINION OF COUNSEL IN
ACCORDANCE WITH THE PROVISIONS OF THE AGREEMENT REFERRED TO HEREIN.
NOTWITHSTANDING ANYTHING ELSE TO THE CONTRARY HEREIN, ANY PURPORTED TRANSFER OF
THIS CERTIFICATE TO OR ON BEHALF OF AN EMPLOYEE BENEFIT PLAN SUBJECT TO ERISA OR
A PLAN OR ARRANGEMENT SUBJECT TO SECTION 4975 OF THE CODE WITHOUT THE OPINION OF
COUNSEL SATISFACTORY TO THE TRUSTEE AS DESCRIBED ABOVE SHALL BE VOID AND OF NO
EFFECT.

[THIS CERTIFICATE REPRESENTS THE "TAX MATTERS PERSON RESIDUAL INTEREST" ISSUED
UNDER THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW AND MAY NOT BE
TRANSFERRED TO ANY PERSON EXCEPT IN CONNECTION WITH THE ASSUMPTION BY THE
TRANSFEREE OF THE DUTIES OF THE SERVICER UNDER SUCH AGREEMENT.]

                                      C-1-1
<PAGE>

Certificate No.             :

Cut-off  Date               :

First Distribution Date     :

Initial Certificate Balance
of this Certificate
("Denomination")            :     $

Initial Certificate Balance
of all Certificates of
this Class                  :     $

CUSIP                       :

ISIN                        :

Interest Rate               :

Maturity Date               :

                                   CWALT, INC.
             Mortgage Pass-Through Certificates, Series 200____-____
                                    Class A-R

      evidencing the distributions allocable to the Class A-R Certificates with
      respect to a Trust Fund consisting primarily of a pool of conventional
      mortgage loans (the "Mortgage Loans") secured by first liens on one- to
      four-family residential properties

                            CWALT, Inc., as Depositor

      Principal in respect of this Certificate is distributable monthly as set
forth herein. Accordingly, the Certificate Balance at any time may be less than
the Certificate Balance as set forth herein. This Certificate does not evidence
an obligation of, or an interest in, and is not guaranteed by the Depositor, the
Sellers, the Master Servicer or the Trustee referred to below or any of their
respective affiliates. Neither this Certificate nor the Mortgage Loans are
guaranteed or insured by any governmental agency or instrumentality.

                                      C-1-2
<PAGE>

      This certifies that ________ is the registered owner of the Percentage
Interest (obtained by dividing the Denomination of this Certificate by the
aggregate Initial Certificate Balance of all Certificates of the Class to which
this Certificate belongs) in certain monthly distributions with respect to a
Trust Fund consisting of the Mortgage Loans deposited by CWALT, Inc. (the
"Depositor"). The Trust Fund was created pursuant to a Pooling and Servicing
Agreement dated as of the Cut-off Date specified above (the "Agreement") among
the Depositor, Countrywide Home Loans, Inc., as a seller ("CHL"), Park Granada
LLC, as a seller ("Park Granada"), Park Monaco, Inc., as a seller ("Park
Monaco"), and Park Sienna LLC, as a seller ("Park Sienna" and, together with
CHL, Park Granada and Park Monaco, the "Sellers"), Countrywide Home Loans
Servicing LP, as master servicer (the "Master Servicer"), and The Bank of New
York, as trustee (the "Trustee"). To the extent not defined herein, the
capitalized terms used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms, provisions and
conditions of the Agreement, to which Agreement the Holder of this Certificate
by virtue of the acceptance hereof assents and by which such Holder is bound.

      Any distribution of the proceeds of any remaining assets of the Trust Fund
will be made only upon presentment and surrender of this Class A-R Certificate
at the Corporate Trust Office or the office or agency maintained by the Trustee
in New York, New York.

      No transfer of a Class A-R Certificate shall be made unless the Trustee
shall have received either (i) a representation letter from the transferee of
such Certificate, acceptable to and in form and substance satisfactory to the
Trustee, to the effect that such transferee is not an employee benefit plan
subject to Section 406 of ERISA or a plan or arrangement subject to Section 4975
of the Code, or a person acting on behalf of or investing plan assets of any
such benefit plan or arrangement, which representation letter shall not be an
expense of the Trustee, the Master Servicer or the Trust Fund, (ii) if such
certificate has been the subject of an ERISA-Qualifying Underwriting and the
transferee is an insurance company, a representation that the transferee is
purchasing such Certificate with funds contained in an "insurance company
general account" (as such term is defined in Section V(e) of Prohibited
Transaction Class Exemption 95-60 ("PTCE 95-60")) and that the purchase and
holding of such Certificate satisfy the requirements for exemptive relief under
Sections I and III of PTCE 95-60, or (iii) in the case of any such Certificate
presented for registration in the name of an employee benefit plan subject to
ERISA or a plan or arrangement subject to Section 4975 of the Code (or
comparable provisions of any subsequent enactments), a trustee of any such
benefit plan or arrangement or any other person acting on behalf of any such
benefit plan or arrangement, an Opinion of Counsel satisfactory to the Trustee
to the effect that the purchase and holding of such Certificate will not result
in a prohibited transaction under Section 406 of ERISA or Section 4975 of the
Code, and will not subject the Trustee or the Master Servicer to any obligation
in addition to those undertaken in the Agreement, which Opinion of Counsel shall
not be an expense of the Trustee, the Master Servicer or the Trust Fund.
Notwithstanding anything else to the contrary herein, any purported transfer of
a Class A-R Certificate to or on behalf of an employee benefit plan subject to
ERISA or a plan or arrangement subject to Section 4975 of the Code without the
opinion of counsel satisfactory to the Trustee as described above shall be void
and of no effect.

                                      C-1-3
<PAGE>

      Each Holder of this Class A-R Certificate will be deemed to have agreed to
be bound by the restrictions of the Agreement, including but not limited to the
restrictions that (i) each person holding or acquiring any Ownership Interest in
this Class A-R Certificate must be a Permitted Transferee, (ii) no Ownership
Interest in this Class A-R Certificate may be transferred without delivery to
the Trustee of (a) a transfer affidavit of the proposed transferee and (b) a
transfer certificate of the transferor, each of such documents to be in the form
described in the Agreement, (iii) each person holding or acquiring any Ownership
Interest in this Class A-R Certificate must agree to require a transfer
affidavit and to deliver a transfer certificate to the Trustee as required
pursuant to the Agreement, (iv) each person holding or acquiring an Ownership
Interest in this Class A-R Certificate must agree not to transfer an Ownership
Interest in this Class A-R Certificate if it has actual knowledge that the
proposed transferee is not a Permitted Transferee and (v) any attempted or
purported transfer of any Ownership Interest in this Class A-R Certificate in
violation of such restrictions will be absolutely null and void and will vest no
rights in the purported transferee.

      Reference is hereby made to the further provisions of this Certificate set
forth on the reverse hereof, which further provisions shall for all purposes
have the same effect as if set forth at this place.

      This Certificate shall not be entitled to any benefit under the Agreement
or be valid for any purpose unless manually countersigned by an authorized
signatory of the Trustee.

                                      * * *

                                      C-1-4
<PAGE>

      IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

Dated:  ____________, 20__

                                    THE BANK OF NEW YORK,
                                    as Trustee

                                    By ______________________

Countersigned:

By ___________________________
      Authorized Signatory of
      THE BANK OF NEW YORK,
      as Trustee

                                      C-1-5
<PAGE>

                                   EXHIBIT C-2

                                   [RESERVED]

                                      C-2-1

<PAGE>

                                    EXHIBIT D

                      [FORM OF NOTIONAL AMOUNT CERTIFICATE]

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO ISSUER OR ITS AGENT
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THIS CERTIFICATE HAS NO PRINCIPAL BALANCE AND IS NOT ENTITLED TO ANY
DISTRIBUTION IN RESPECT OF PRINCIPAL.

SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A "REGULAR
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT," AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED (THE "CODE").

[UNTIL THIS CERTIFICATE HAS BEEN THE SUBJECT OF AN ERISA-QUALIFYING
UNDERWRITING, NEITHER THIS CERTIFICATE NOR ANY INTEREST HEREIN MAY BE
TRANSFERRED UNLESS THE TRANSFEREE DELIVERS TO THE TRUSTEE EITHER (A) A
REPRESENTATION LETTER TO THE EFFECT THAT SUCH TRANSFEREE IS NOT, AND IS NOT
INVESTING ASSETS OF, AN EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT
INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR A PLAN OR ARRANGEMENT
SUBJECT TO SECTION 4975 OF THE CODE, OR (B) AN OPINION OF COUNSEL IN ACCORDANCE
WITH THE PROVISIONS OF THE AGREEMENT REFERRED TO HEREIN. SUCH REPRESENTATION
SHALL BE DEEMED TO HAVE BEEN MADE TO THE TRUSTEE BY THE TRANSFEREE'S ACCEPTANCE
OF A CERTIFICATE OF THIS CLASS AND BY A BENEFICIAL OWNER'S ACCEPTANCE OF ITS
INTEREST IN A CERTIFICATE OF THIS CLASS. NOTWITHSTANDING ANYTHING ELSE TO THE
CONTRARY HEREIN, UNTIL THIS CERTIFICATE HAS BEEN THE SUBJECT OF AN
ERISA-QUALIFYING UNDERWRITING, ANY PURPORTED TRANSFER OF THIS CERTIFICATE TO, OR
A PERSON INVESTING ASSETS OF, AN EMPLOYEE BENEFIT PLAN SUBJECT TO ERISA OR A
PLAN OR ARRANGEMENT SUBJECT TO SECTION 4975 OF THE CODE WITHOUT THE OPINION OF
COUNSEL SATISFACTORY TO THE TRUSTEE AS DESCRIBED ABOVE SHALL BE VOID AND OF NO
EFFECT.]

                                       D-1
<PAGE>

Certificate No.             :

Cut-off Date                :

First Distribution Date     :

Initial Notional Amount
of this Certificate
("Denomination")            :     $

Initial Notional Amount
of all Certificates
of this Class               :     $

CUSIP                       :

Interest Rate               :     Interest Only

Maturity Date               :

                                   CWALT, INC.
             Mortgage Pass-Through Certificates, Series 200____-____
                                    Class [ ]

      evidencing a percentage interest in the distributions allocable to the
      Certificates of the above-referenced Class with respect to a Trust Fund
      consisting primarily of a pool of conventional mortgage loans (the
      "Mortgage Loans") secured by first liens on one- to four-family
      residential properties

                            CWALT, Inc., as Depositor

      The Notional Amount of this certificate at any time, may be less than the
Notional Amount as set forth herein. This Certificate does not evidence an
obligation of, or an interest in, and is not guaranteed by the Depositor, the
Sellers, the Master Servicer or the Trustee referred to below or any of their
respective affiliates. Neither this Certificate nor the Mortgage Loans are
guaranteed or insured by any governmental agency or instrumentality.

      This certifies that _________ is the registered owner of the Percentage
Interest evidenced by this Certificate (obtained by dividing the denomination of
this Certificate by the aggregate Initial Notional Amount of all Certificates of
the Class to which this Certificate belongs) in certain monthly distributions
with respect to a Trust Fund consisting primarily of the Mortgage Loans
deposited by CWALT, Inc. (the "Depositor"). The Trust Fund was created

                                       D-2
<PAGE>

pursuant to a Pooling and Servicing Agreement dated as of the Cut-off Date
specified above (the "Agreement") among the Depositor, Countrywide Home Loans,
Inc., as a seller ("CHL"), Park Granada LLC, as a seller ("Park Granada"), Park
Monaco, Inc., as a seller ("Park Monaco"), and Park Sienna LLC, as a seller
("Park Sienna" and, together with CHL, Park Granada and Park Monaco, the
"Sellers"), Countrywide Home Loans Servicing LP, as master servicer (the "Master
Servicer"), and The Bank of New York, as trustee (the "Trustee"). To the extent
not defined herein, the capitalized terms used herein have the meanings assigned
in the Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.

      [Until this certificate has been the subject of an ERISA-Qualifying
Underwriting, no transfer of a Certificate of this Class shall be made unless
the Trustee shall have received either (i) a representation letter from the
transferee of such Certificate, acceptable to and in form and substance
satisfactory to the Trustee, to the effect that such transferee is not an
employee benefit plan subject to Section 406 of ERISA or a plan or arrangement
subject to Section 4975 of the Code, or a person acting on behalf of or
investing plan assets of any such benefit plan or arrangement, which
representation letter shall not be an expense of the Trustee, the Master
Servicer or the Trust Fund, or (ii) in the case of any such Certificate
presented for registration in the name of an employee benefit plan subject to
ERISA or a plan or arrangement subject to Section 4975 of the Code (or
comparable provisions of any subsequent enactments), a trustee of any such
benefit plan or arrangement or any other person acting on behalf of any such
benefit plan or arrangement, an Opinion of Counsel satisfactory to the Trustee
to the effect that the purchase and holding of such Certificate will not result
in a non-exempt prohibited transaction under Section 406 of ERISA or Section
4975 of the Code, and will not subject the Trustee or the Master Servicer to any
obligation in addition to those undertaken in the Agreement, which Opinion of
Counsel shall not be an expense of the Trustee, the Master Servicer or the Trust
Fund. When the transferee delivers the Opinion of Counsel described above, such
representation shall be deemed to have been made to the Trustee by the
Transferee's acceptance of a Certificate of this Class and by a beneficial
owner's acceptance of its interest in a Certificate of this Class.
Notwithstanding anything else to the contrary herein, until such certificate has
been the subject of an ERISA-Qualifying Underwriting, any purported transfer of
a Certificate of this Class to, or a person investing assets of, an employee
benefit plan subject to ERISA or a plan or arrangement subject to Section 4975
of the Code without the opinion of counsel satisfactory to the Trustee as
described above shall be void and of no effect.]

      Reference is hereby made to the further provisions of this Certificate set
forth on the reverse hereof, which further provisions shall for all purposes
have the same effect as if set forth at this place.

      This Certificate shall not be entitled to any benefit under the Agreement
or be valid for any purpose unless manually countersigned by an authorized
signatory of the Trustee.

                                    *   *   *

                                       D-3
<PAGE>

      IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
executed.

Dated:  ____________, 20__

                                       THE BANK OF NEW YORK,
                                       as Trustee

                                       By
                                          -----------------------

Countersigned:

By
   -------------------------------
      Authorized Signatory of
      THE BANK OF NEW YORK,
      as Trustee

                                       D-4
<PAGE>

                                    EXHIBIT E

                        [FORM OF] REVERSE OF CERTIFICATES

                                   CWALT, INC.
                       Mortgage Pass-Through Certificates

      This Certificate is one of a duly authorized issue of Certificates
designated as CWALT, Inc. Mortgage Pass-Through Certificates, of the Series
specified on the face hereof (herein collectively called the "Certificates"),
and representing a beneficial ownership interest in the Trust Fund created by
the Agreement.

      The Certificateholder, by its acceptance of this Certificate, agrees that
it will look solely to the funds on deposit in the Distribution Account for
payment hereunder and that the Trustee is not liable to the Certificateholders
for any amount payable under this Certificate or the Agreement or, except as
expressly provided in the Agreement, subject to any liability under the
Agreement.

      This Certificate does not purport to summarize the Agreement and reference
is made to the Agreement for the interests, rights and limitations of rights,
benefits, obligations and duties evidenced thereby, and the rights, duties and
immunities of the Trustee.

      Pursuant to the terms of the Agreement, a distribution will be made on the
20th day of each month or, if such day is not a Business Day, the Business Day
immediately following (the "Distribution Date"), commencing on the first
Distribution Date specified on the face hereof, to the Person in whose name this
Certificate is registered at the close of business on the applicable Record Date
in an amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed to Holders of Certificates
of the Class to which this Certificate belongs on such Distribution Date
pursuant to the Agreement. The Record Date applicable to each Distribution Date
is the last Business Day of the month next preceding the month of such
Distribution Date.

      Distributions on this Certificate shall be made by wire transfer of
immediately available funds to the account of the Holder hereof at a bank or
other entity having appropriate facilities therefor, if such Certificateholder
shall have so notified the Trustee in writing at least five Business Days prior
to the related Record Date and such Certificateholder shall satisfy the
conditions to receive such form of payment set forth in the Agreement, or, if
not, by check mailed by first class mail to the address of such
Certificateholder appearing in the Certificate Register. The final distribution
on each Certificate will be made in like manner, but only upon presentment and
surrender of such Certificate at the Corporate Trust Office or such other
location specified in the notice to Certificateholders of such final
distribution.

      The Agreement permits, with certain exceptions therein provided, the
amendment thereof and the modification of the rights and obligations of the
Trustee and the rights of the Certificateholders under the Agreement at any time
by the Depositor, the Master Servicer and the

                                       E-1
<PAGE>

Trustee with the consent of the Holders of Certificates affected by such
amendment evidencing the requisite Percentage Interest, as provided in the
Agreement. Any such consent by the Holder of this Certificate shall be
conclusive and binding on such Holder and upon all future Holders of this
Certificate and of any Certificate issued upon the transfer hereof or in
exchange therefor or in lieu hereof whether or not notation of such consent is
made upon this Certificate. The Agreement also permits the amendment thereof, in
certain limited circumstances, without the consent of the Holders of any of the
Certificates.

      As provided in the Agreement and subject to certain limitations therein
set forth, the transfer of this Certificate is registrable in the Certificate
Register of the Trustee upon surrender of this Certificate for registration of
transfer at the Corporate Trust Office or the office or agency maintained by the
Trustee in New York, New York, accompanied by a written instrument of transfer
in form satisfactory to the Trustee and the Certificate Registrar duly executed
by the holder hereof or such holder's attorney duly authorized in writing, and
thereupon one or more new Certificates of the same Class in authorized
denominations and evidencing the same aggregate Percentage Interest in the Trust
Fund will be issued to the designated transferee or transferees.

      The Certificates are issuable only as registered Certificates without
coupons in denominations specified in the Agreement. As provided in the
Agreement and subject to certain limitations therein set forth, Certificates are
exchangeable for new Certificates of the same Class in authorized denominations
and evidencing the same aggregate Percentage Interest, as requested by the
Holder surrendering the same.

      No service charge will be made for any such registration of transfer or
exchange, but the Trustee may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith.

      The Depositor, the Master Servicer, the Sellers and the Trustee and any
agent of the Depositor or the Trustee may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes, and neither the
Depositor, the Trustee, nor any such agent shall be affected by any notice to
the contrary.

      On any Distribution Date on which the Pool Stated Principal Balance is
less than or equal to 10% of the Cut-off Date Pool Principal Balance, the Master
Servicer will have the option, subject to the limitations set forth in the
Agreement, to repurchase, in whole, from the Trust Fund all remaining Mortgage
Loans and all property acquired in respect of the Mortgage Loans at a purchase
price determined as provided in the Agreement. In the event that no such
optional termination occurs, the obligations and responsibilities created by the
Agreement will terminate upon the later of the maturity or other liquidation (or
any advance with respect thereto) of the last Mortgage Loan remaining in the
Trust Fund or the disposition of all property in respect thereof and the
distribution to Certificateholders of all amounts required to be distributed
pursuant to the Agreement. In no event, however, will the trust created by the
Agreement continue beyond the

                                       E-2
<PAGE>

expiration of 21 years from the death of the last survivor of the descendants
living at the date of the Agreement of a certain person named in the Agreement.

      Any term used herein that is defined in the Agreement shall have the
meaning assigned in the Agreement, and nothing herein shall be deemed
inconsistent with that meaning.

                                       E-3
<PAGE>

                                   ASSIGNMENT
                                   ----------

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto _________________________________________________________________________
______________________________________________________________________________
(Please print or typewrite name and address including postal zip code of
assignee)

the Percentage Interest evidenced by the within Certificate and hereby
authorizes the transfer of registration of such Percentage Interest to assignee
on the Certificate Register of the Trust Fund.

      I (We) further direct the Trustee to issue a new Certificate of a like
denomination and Class, to the above named assignee and deliver such Certificate
to the following address:

                                            ____________________________________

Dated:

                                       ----------------------------------------
                                       Signature by or on behalf of assignor

                          DISTRIBUTION INSTRUCTIONS

      The assignee should include the following for purposes of distribution:

      Distributions shall be made, by wire transfer or otherwise, in
immediately available funds to, ______________________________________________
______________________________________________________________________________
_____________________________________________________________________________,
for the account of __________________________________________________________,
account number ________________________, or, if mailed by check, to _________.
Applicable statements should be mailed to ___________________________________,
______________________________________________________________________________
______________________________________________________________________________.
      This information is provided by ______________________________________ ,
the assignee named above, or ________________________________________________ ,
as its agent.

                                       E-4
<PAGE>

STATE OF                   )
                           )  ss.:
COUNTY OF                  )

      On the _____day of ___________________, 20__ before me, a notary public in
and for said State, personally appeared _____________________________________,
known to me who, being by me duly sworn, did depose and say that he executed the
foregoing instrument.

                                        --------------------------------------
                                                      Notary Public

                                 [Notarial Seal]

                                       E-5
<PAGE>

                                   EXHIBIT F-1

                   [FORM OF] INITIAL CERTIFICATION OF TRUSTEE
                            (INITIAL MORTGAGE LOANS)

                                     [date]

[Depositor]

[Master Servicer]

[Countrywide]

_____________________
_____________________

            Re:   Pooling and Servicing Agreement among CWALT, Inc., as
                  Depositor, Countrywide Home Loans, Inc. ("Countrywide"), as a
                  Seller, Park Granada LLC, as a Seller, Park Monaco, Inc., as a
                  Seller, Park Sienna LLC, as a Seller, Countrywide Home Loans
                  Servicing LP, as Master Servicer, and The Bank of New York, as
                  Trustee, Mortgage Pass-Through Certificates, Series 200_-_
                  ----------------------------------------------------------

Gentlemen:

      In accordance with Section 2.02 of the above-captioned Pooling and
Servicing Agreement (the "Pooling and Servicing Agreement"), the undersigned, as
Trustee, hereby certifies that, as to each Initial Mortgage Loan listed in the
Mortgage Loan Schedule (other than any Initial Mortgage Loan paid in full or
listed on the attached schedule) it has received:

      (i) (a) the original Mortgage Note endorsed in the following form: "Pay to
the order of __________, without recourse" or (b) with respect to any Lost
Mortgage Note, a lost note affidavit from Countrywide stating that the original
Mortgage Note was lost or destroyed; and

      (ii) a duly executed assignment of the Mortgage (which may be included in
a blanket assignment or assignments).

      Based on its review and examination and only as to the foregoing
documents, such documents appear regular on their face and related to such
Mortgage Loan.

      The Trustee has made no independent examination of any documents contained
in each Mortgage File beyond the review specifically required in the Pooling and
Servicing Agreement. The Trustee makes no representations as to: (i) the
validity, legality, sufficiency, enforceability or genuineness of any of the
documents contained in each Mortgage File of any of the Initial

                                      F-1-1
<PAGE>

      Mortgage Loans identified on the Mortgage Loan Schedule, or (ii) the
collectability, insurability, effectiveness or suitability of any such Initial
Mortgage Loan.

                                      F-1-2
<PAGE>

      Capitalized words and phrases used herein shall have the respective
meanings assigned to them in the Pooling and Servicing Agreement.

                                       THE BANK OF NEW YORK,
                                           as Trustee

                                       By:
                                          -----------------------------
                                       Name:
                                       Title:

                                      F-1-3
<PAGE>

                                   EXHIBIT F-2

                   [FORM OF] INITIAL CERTIFICATION OF TRUSTEE
                          (SUPPLEMENTAL MORTGAGE LOANS)

                                     [date]

[Depositor]

[Master Servicer]

[Countrywide]

_____________________
_____________________

            Re:   Pooling and Servicing Agreement among CWALT, Inc., as
                  Depositor, Countrywide Home Loans, Inc., as a Seller, Park
                  Granada LLC, as a Seller, Park Monaco, Inc., as a Seller, Park
                  Sienna LLC, as a Seller, Countrywide Home Loans Servicing LP,
                  as Master Servicer, and The Bank of New York, as Trustee,
                  Mortgage Pass-Through Certificates, Series 20__-__ and the
                  Supplemental Transfer Agreement dated as of [month] ____, 200_
                  among CWALT, Inc., as Depositor, Countrywide Home Loans, Inc.,
                  as a Seller, Park Granada LLC, as a Seller, Park Monaco, Inc.,
                  as a Seller, Park Sienna LLC, as a Seller, and The Bank of New
                  York, as Trustee

                  ________________________________

Gentlemen:

      In accordance with Section 2.02 of the above-captioned Pooling and
Servicing Agreement (the "Pooling and Servicing Agreement") and the Supplemental
Transfer Agreement, dated as of [month] ____, 200_, the undersigned, as Trustee,
hereby certifies that, as to each Supplemental Mortgage Loan listed in the
Mortgage Loan Schedule (other than any Supplemental Mortgage Loan paid in full
or listed on the attached schedule) it has received:

      (i) (a) the original Mortgage Note endorsed in the following form: "Pay to
the order of __________, without recourse" or (b) with respect to any Lost
Mortgage Note, a lost note affidavit from the Seller stating that the original
Mortgage Note was lost or destroyed; and

      (ii) a duly executed assignment of the Mortgage (which may be included in
a blanket assignment or assignments)

                                      F-2-1
<PAGE>

      Based on its review and examination and only as to the foregoing
documents, such documents appear regular on their face and related to such
Mortgage Loan.

      The Trustee has made no independent examination of any documents contained
in each Mortgage File beyond the review specifically required in the Pooling and
Servicing Agreement. The Trustee makes no representations as to: (i) the
validity, legality, sufficiency, enforceability or genuineness of any of the
documents contained in each Mortgage File of any of the Supplemental Mortgage
Loans identified on the Mortgage Loan Schedule, or (ii) the collectability,
insurability, effectiveness or suitability of any such Supplemental Mortgage
Loan.

                                      F-2-2
<PAGE>

      Capitalized words and phrases used herein shall have the respective
meanings assigned to them in the Pooling and Servicing Agreement.

                                       THE BANK OF NEW YORK,
                                           as Trustee

                                       By:
                                          -----------------------------
                                       Name:
                                       Title:

                                      F-2-3
<PAGE>

                                   EXHIBIT G-1

                     [FORM OF] DELAY DELIVERY CERTIFICATION
                            (INITIAL MORTGAGE LOANS)

                                     [date]

[Depositor]

[Master Servicer]

[Countrywide]

_____________________

_____________________

            Re:   Pooling and Servicing Agreement among CWALT, Inc., as
                  Depositor, Countrywide Home Loans, Inc. ("Countrywide"), as a
                  Seller, Park Granada LLC, as a Seller, Park Monaco, Inc., as a
                  Seller, Park Sienna LLC, as a Seller, Countrywide Home Loans
                  Servicing LP, as Master Servicer, and The Bank of New York, as
                  Trustee, Mortgage Pass-Through Certificates, Series 200_-_
                  ----------------------------------------------------------

Gentlemen:

      Reference is made to the Initial Certification of Trustee relating to the
above-referenced series, with the schedule of exceptions attached thereto (the
"Schedule A"), delivered by the undersigned, as Trustee, on the Closing Date in
accordance with Section 2.02 of the above-captioned Pooling and Servicing
Agreement (the "Pooling and Servicing Agreement"). The undersigned hereby
certifies that, as to each Delay Delivery Initial Mortgage Loan listed on
Schedule A attached hereto (other than any Initial Mortgage Loan paid in full or
listed on Schedule B attached hereto) it has received:

      (i)   the original Mortgage Note, endorsed by Countrywide or the
            originator of such Mortgage Loan, without recourse in the following
            form: "Pay to the order of _______________ without recourse", with
            all intervening endorsements that show a complete chain of
            endorsement from the originator to Countrywide, or, if the original
            Mortgage Note has been lost or destroyed and not replaced, an
            original lost note affidavit from Countrywide, stating that the
            original Mortgage Note was lost or destroyed, together with a copy
            of the related Mortgage Note;

                                      G-1-1
<PAGE>

      (ii)  in the case of each Initial Mortgage Loan that is not a MERS
            Mortgage Loan, the original recorded Mortgage, [and in the case of
            each Initial Mortgage Loan that is a MERS Mortgage Loan, the
            original Mortgage, noting thereon the presence of the MIN of the
            Initial Mortgage Loan and language indicating that the Initial
            Mortgage Loan is a MOM Loan if the Initial Mortgage Loan is a MOM
            Loan, with evidence of recording indicated thereon, or a copy of the
            Mortgage certified by the public recording office in which such
            Mortgage has been recorded];

      (iii) in the case of each Initial Mortgage Loan that is not a MERS
            Mortgage Loan, a duly executed assignment of the Mortgage to "The
            Bank of New York, as trustee under the Pooling and Servicing
            Agreement dated as of [month] 1, 200[_], without recourse", or, in
            the case of each Initial Mortgage Loan with respect to property
            located in the State of California that is not a MERS Mortgage Loan,
            a duly executed assignment of the Mortgage in blank (each such
            assignment, when duly and validly completed, to be in recordable
            form and sufficient to effect the assignment of and transfer to the
            assignee thereof, under the Mortgage to which such assignment
            relates);

      (iv)  the original recorded assignment or assignments of the Mortgage
            together with all interim recorded assignments of such Mortgage
            [(noting the presence of a MIN in the case of each MERS Mortgage
            Loan)];

      (v)   the original or copies of each assumption, modification, written
            assurance or substitution agreement, if any, with evidence of
            recording thereon if recordation thereof is permissible under
            applicable law; and

      (vi)  the original or duplicate original lender's title policy or a
            printout of the electronic equivalent and all riders thereto or, in
            the event such original title policy has not been received from the
            insurer, any one of an original title binder, an original
            preliminary title report or an original title commitment, or a copy
            thereof certified by the title company, with the original policy of
            title insurance to be delivered within one year of the Closing Date.

      In the event that in connection with any Mortgage Loan that is not a MERS
Mortgage Loan Countrywide cannot deliver the original recorded Mortgage or all
interim recorded assignments of the Mortgage satisfying the requirements of
clause (ii), (iii) or (iv), as applicable, the Trustee has received, in lieu
thereof, a true and complete copy of such Mortgage and/or such assignment or
assignments of the Mortgage, as applicable, each certified by Countrywide, the
applicable title company, escrow agent or attorney, or the originator of such
Initial Mortgage Loan, as the case may be, to be a true and complete copy of the
original Mortgage or assignment of Mortgage submitted for recording

                                      G-1-2
<PAGE>

      Based on its review and examination and only as to the foregoing
documents, (i) such documents appear regular on their face and related to such
Initial Mortgage Loan, and (ii) the information set forth in items (i), (iv),
(v), (vi), (viii), (xi) and (xiv) of the definition of the "Mortgage Loan
Schedule" in Article I of the Pooling and Servicing Agreement accurately
reflects information set forth in the Mortgage File.

      The Trustee has made no independent examination of any documents contained
in each Mortgage File beyond the review specifically required in the
above-referenced Pooling and Servicing Agreement. The Trustee makes no
representations as to: (i) the validity, legality, sufficiency, enforceability
or genuineness of any of the documents contained in each Mortgage File of any of
the Initial Mortgage Loans identified on the [Mortgage Loan Schedule][Loan
Number and Borrower Identification Mortgage Loan Schedule] or (ii) the
collectibility, insurability, effectiveness or suitability of any such Mortgage
Loan.

                                      G-1-3
<PAGE>

      Capitalized words and phrases used herein shall have the respective
meanings assigned to them in the Pooling and Servicing Agreement.

                                    THE BANK OF NEW YORK,
                                      as Trustee

                                    By:
                                       ---------------------------
                                    Name:
                                    Title:

                                      G-1-4
<PAGE>

                                   EXHIBIT G-2

                     [FORM OF] DELAY DELIVERY CERTIFICATION
                          (SUPPLEMENTAL MORTGAGE LOANS)

                                     [date]

[Depositor]

[Master Servicer]

[Countrywide]

            Re:   Pooling and Servicing Agreement among CWALT, Inc., as
                  Depositor, Countrywide Home Loans, Inc., as a Seller, Park
                  Granada LLC, as a Seller, Park Monaco, Inc., as a Seller, Park
                  Sienna LLC, as a Seller, Countrywide Home Loans Servicing LP,
                  as Master Servicer, and The Bank of New York, as Trustee,
                  Mortgage Pass-Through Certificates, Series 20__-__ and the
                  Supplemental Transfer Agreement dated as of [month] ____, 200_
                  among CWALT, Inc., as Depositor, Countrywide Home Loans, Inc.,
                  as a Seller, Park Granada LLC, as a Seller, Park Monaco, Inc.,
                  as a Seller, Park Sienna LLC, as a Seller, and The Bank of New
                  York, as Trustee

                  ________________________________

Gentlemen:

      Reference is made to the Initial Certification of Trustee relating to the
above-referenced series, with the schedule of exceptions attached thereto (the
"Schedule A"), delivered by the undersigned, as Trustee, on [month] __, 200_
(such date being the related "Supplemental Transfer Date" in accordance with
Section 2.02 of the above-captioned Pooling and Servicing Agreement (the
"Pooling and Servicing Agreement"). The undersigned hereby certifies that, as to
each Delay Delivery Supplemental Mortgage Loan listed on Schedule A attached
hereto (other than any Supplemental Mortgage Loan paid in full or listed on
Schedule B attached hereto) it has received:

      (i)   the original Mortgage Note, endorsed by the Seller or the originator
            of such Mortgage Loan, without recourse in the following form: "Pay
            to the order of _______________ without recourse", with all
            intervening endorsements that show a complete chain of endorsement
            from the originator to the Seller, or, if the

                                      G-2-1
<PAGE>

            original Mortgage Note has been lost or destroyed and not replaced,
            an original lost note affidavit from the Seller, stating that the
            original Mortgage Note was lost or destroyed, together with a copy
            of the related Mortgage Note;

      (ii)  in the case of each Supplemental Mortgage Loan that is not a MERS
            Mortgage Loan, the original recorded Mortgage, [and in the case of
            each Supplemental Mortgage Loan that is a MERS Mortgage Loan, the
            original Mortgage, noting thereon the presence of the MIN of the
            Supplemental Mortgage Loan and language indicating that the
            Supplemental Mortgage Loan is a MOM Loan if the Supplemental
            Mortgage Loan is a MOM Loan, with evidence of recording indicated
            thereon, or a copy of the Mortgage certified by the public recording
            office in which such Mortgage has been recorded];

      (iii) in the case of each Supplemental Mortgage Loan that is not a MERS
            Mortgage Loan, a duly executed assignment of the Mortgage to "The
            Bank of New York, as trustee under the Pooling and Servicing
            Agreement dated as of [month] 1, 2004, without recourse", or, in the
            case of each Supplemental Mortgage Loan with respect to property
            located in the State of California that is not a MERS Mortgage Loan,
            a duly executed assignment of the Mortgage in blank (each such
            assignment, when duly and validly completed, to be in recordable
            form and sufficient to effect the assignment of and transfer to the
            assignee thereof, under the Mortgage to which such assignment
            relates);

      (iv)  the original recorded assignment or assignments of the Mortgage
            together with all interim recorded assignments of such Mortgage
            [(noting the presence of a MIN in the case of each MERS Mortgage
            Loan)];

      (v)   the original or copies of each assumption, modification, written
            assurance or substitution agreement, if any, with evidence of
            recording thereon if recordation thereof is permissible under
            applicable law; and

      (vi)  the original or duplicate original lender's title policy or a
            printout of the electronic equivalent and all riders thereto or, in
            the event such original title policy has not been received from the
            insurer, any one of an original title binder, an original
            preliminary title report or an original title commitment, or a copy
            thereof certified by the title company, with the original policy of
            title insurance to be delivered within one year of the Closing Date.

      In the event that in connection with any Mortgage Loan that is not a MERS
Mortgage Loan the Seller cannot deliver the original recorded Mortgage or all
interim recorded assignments of the Mortgage satisfying the requirements of
clause (ii), (iii) or (iv), as applicable, the Trustee has received, in lieu
thereof, a true and complete copy of such Mortgage and/or such assignment or
assignments of the Mortgage, as applicable, each certified by the Seller, the
applicable title company, escrow agent or attorney, or the originator of such
Supplemental

                                      G-2-2
<PAGE>

      Mortgage Loan, as the case may be, to be a true and complete copy of the
original Mortgage or assignment of Mortgage submitted for recording.

      Based on its review and examination and only as to the foregoing
documents, (i) such documents appear regular on their face and related to such
Supplemental Mortgage Loan, and (ii) the information set forth in items (i),
(iv), (v), (vi), (viii), (xi) and (xiv) of the definition of the "Mortgage Loan
Schedule" in Section 1.01 of the Pooling and Servicing Agreement accurately
reflects information set forth in the Mortgage File.

      The Trustee has made no independent examination of any documents contained
in each Mortgage File beyond the review specifically required in the
above-referenced Pooling and Servicing Agreement. The Trustee makes no
representations as to: (i) the validity, legality, sufficiency, enforceability
or genuineness of any of the documents contained in each Mortgage File of any of
the Supplemental Mortgage Loans identified on the [Mortgage Loan Schedule][Loan
Number and Borrower Identification Mortgage Loan Schedule] or (ii) the
collectibility, insurability, effectiveness or suitability of any such Mortgage
Loan.

                                      G-2-3
<PAGE>

      Capitalized words and phrases used herein shall have the respective
meanings assigned to them in the Pooling and Servicing Agreement.

                                    THE BANK OF NEW YORK,
                                      as Trustee

                                    By:
                                       ---------------------------
                                    Name:
                                    Title:

                                      G-2-4
<PAGE>

                                   EXHIBIT H-1

                    [FORM OF] FINAL CERTIFICATION OF TRUSTEE
                            (INITIAL MORTGAGE LOANS)

                                     [date]

[Depositor]

[Master Servicer]

[Countrywide]

______________________
______________________

            Re:   Pooling and Servicing Agreement among CWALT, Inc., as
                  Depositor, Countrywide Home Loans, Inc. ("Countrywide"), as a
                  Seller, Park Granada LLC, as a Seller, Park Monaco, Inc., as a
                  Seller, Park Sienna LLC, as a Seller, Countrywide Home Loans
                  Servicing LP, as Master Servicer, and The Bank of New York, as
                  Trustee, Mortgage Pass-Through Certificates, Series 200_-_
                  ----------------------------------------------------------

Gentlemen:

      In accordance with Section 2.02 of the above-captioned Pooling and
Servicing Agreement (the "Pooling and Servicing Agreement"), the undersigned, as
Trustee, hereby certifies that as to each Initial Mortgage Loan listed in the
Mortgage Loan Schedule (other than any Initial Mortgage Loan paid in full or
listed on the attached Document Exception Report) it has received:

      (i)   the original Mortgage Note, endorsed by Countrywide or the
            originator of such Mortgage Loan, without recourse in the following
            form: "Pay to the order of _______________ without recourse", with
            all intervening endorsements that show a complete chain of
            endorsement from the originator to Countrywide, or, if the original
            Mortgage Note has been lost or destroyed and not replaced, an
            original lost note affidavit from Countrywide, stating that the
            original Mortgage Note was lost or destroyed, together with a copy
            of the related Mortgage Note;

      (ii)  in the case of each Initial Mortgage Loan that is not a MERS
            Mortgage Loan, the original recorded Mortgage, [and in the case of
            each Initial Mortgage Loan that is

                                      H-1-1
<PAGE>

      (iii) a MERS Mortgage Loan, the original Mortgage, noting thereon the
            presence of the MIN of the Mortgage Loan and language indicating
            that the Mortgage Loan is a MOM Loan if the Mortgage Loan is a MOM
            Loan, with evidence of recording indicated thereon, or a copy of the
            Mortgage certified by the public recording office in which such
            Mortgage has been recorded];

      (iv)  in the case of each Initial Mortgage Loan that is not a MERS
            Mortgage Loan, a duly executed assignment of the Mortgage to "The
            Bank of New York, as trustee under the Pooling and Servicing
            Agreement dated as of [month] 1, 200[_], without recourse", or, in
            the case of each Initial Mortgage Loan with respect to property
            located in the State of California that is not a MERS Mortgage Loan,
            a duly executed assignment of the Mortgage in blank (each such
            assignment, when duly and validly completed, to be in recordable
            form and sufficient to effect the assignment of and transfer to the
            assignee thereof, under the Mortgage to which such assignment
            relates);

      (v)   the original recorded assignment or assignments of the Mortgage
            together with all interim recorded assignments of such Mortgage
            [(noting the presence of a MIN in the case of each Initial Mortgage
            Loan that is a MERS Mortgage Loan)];

      (vi)  the original or copies of each assumption, modification, written
            assurance or substitution agreement, if any, with evidence of
            recording thereon if recordation thereof is permissible under
            applicable law; and

      (vii) the original or duplicate original lender's title policy or a
            printout of the electronic equivalent and all riders thereto or, in
            the event such original title policy has not been received from the
            insurer, any one of an original title binder, an original
            preliminary title report or an original title commitment, or a copy
            thereof certified by the title company, with the original policy of
            title insurance to be delivered within one year of the Closing Date.

      In the event that in connection with any Initial Mortgage Loan that is not
a MERS Mortgage Loan Countrywide cannot deliver the original recorded Mortgage
or all interim recorded assignments of the Mortgage satisfying the requirements
of clause (ii), (iii) or (iv), as applicable, the Trustee has received, in lieu
thereof, a true and complete copy of such Mortgage and/or such assignment or
assignments of the Mortgage, as applicable, each certified by Countrywide, the
applicable title company, escrow agent or attorney, or the originator of such
Initial Mortgage Loan, as the case may be, to be a true and complete copy of the
original Mortgage or assignment of Mortgage submitted for recording.

      Based on its review and examination and only as to the foregoing
documents, (i) such documents appear regular on their face and related to such
Initial Mortgage Loan, and (ii) the information set forth in items (i), (iv),
(v), (vi), (viii), (xi) and (xiv) of the definition of the "Mortgage Loan
Schedule" in Article I of the Pooling and Servicing Agreement accurately
reflects information set forth in the Mortgage File.

                                      H-1-2
<PAGE>

      The Trustee has made no independent examination of any documents contained
in each Mortgage File beyond the review specifically required in the
above-referenced Pooling and Servicing Agreement. The Trustee makes no
representations as to: (i) the validity, legality, sufficiency, enforceability
or genuineness of any of the documents contained in each Mortgage File of any of
the Initial Mortgage Loans identified on the [Mortgage Loan Schedule][Loan
Number and Borrower Identification Mortgage Loan Schedule] or (ii) the
collectibility, insurability, effectiveness or suitability of any such Initial
Mortgage Loan.

                                     H-1-3
<PAGE>

      Capitalized words and phrases used herein shall have the respective
meanings assigned to them in the Pooling and Servicing Agreement.

                                       THE BANK OF NEW YORK,
                                         as Trustee

                                       By :
                                           --------------------------
                                       Name:
                                       Title:

                                      H-1-4
<PAGE>

                                   EXHIBIT H-2

                    [FORM OF] FINAL CERTIFICATION OF TRUSTEE
                          (SUPPLEMENTAL MORTGAGE LOANS)

                                     [date]

[Depositor]

[Master Servicer]

[Countrywide]

______________________
______________________

            Re:   Pooling and Servicing Agreement among CWALT, Inc., as
                  Depositor, Countrywide Home Loans, Inc., as a Seller, Park
                  Granada LLC, as a Seller, Park Monaco, Inc., as a Seller, Park
                  Sienna LLC, as a Seller, Countrywide Home Loans Servicing LP,
                  as Master Servicer, and The Bank of New York, as Trustee,
                  Mortgage Pass-Through Certificates, Series 20__-__ and the
                  Supplemental Transfer Agreement dated as of [month] ____, 200_
                  among CWALT, Inc., as Depositor, Countrywide Home Loans, Inc.,
                  as a Seller, Park Granada LLC, as a Seller, Park Monaco, Inc.,
                  as a Seller, Park Sienna LLC, as a Seller, and The Bank of New
                  York, as Trustee

                  ________________________________

Gentlemen:

      In accordance with Section 2.02 of the above-captioned Pooling and
Servicing Agreement (the "Pooling and Servicing Agreement"), the undersigned, as
Trustee, hereby certifies that as to each Supplemental Mortgage Loan listed in
the Mortgage Loan Schedule (other than any Supplemental Mortgage Loan paid in
full or listed on the attached Document Exception Report) it has received:

      (i)   the original Mortgage Note, endorsed by the Seller or the originator
            of such Mortgage Loan, without recourse in the following form: "Pay
            to the order of _______________ without recourse", with all
            intervening endorsements that show a complete chain of endorsement
            from the originator to the Seller, or, if the original Mortgage Note
            has been lost or destroyed and not replaced, an original

                                      H-2-1
<PAGE>

            lost note affidavit from the Seller, stating that the original
            Mortgage Note was lost or destroyed, together with a copy of the
            related Mortgage Note;

      (ii)  in the case of each Supplemental Mortgage Loan that is not a MERS
            Mortgage Loan, the original recorded Mortgage, [and in the case of
            each Supplemental Mortgage Loan that is a MERS Mortgage Loan, the
            original Mortgage, noting thereon the presence of the MIN of the
            Mortgage Loan and language indicating that the Mortgage Loan is a
            MOM Loan if the Mortgage Loan is a MOM Loan, with evidence of
            recording indicated thereon, or a copy of the Mortgage certified by
            the public recording office in which such Mortgage has been
            recorded];

      (iii) in the case of each Supplemental Mortgage Loan that is not a MERS
            Mortgage Loan, a duly executed assignment of the Mortgage to "The
            Bank of New York, as trustee under the Pooling and Servicing
            Agreement dated as of [month] 1, 2004, without recourse", or, in the
            case of each Supplemental Mortgage Loan with respect to property
            located in the State of California that is not a MERS Mortgage Loan,
            a duly executed assignment of the Mortgage in blank (each such
            assignment, when duly and validly completed, to be in recordable
            form and sufficient to effect the assignment of and transfer to the
            assignee thereof, under the Mortgage to which such assignment
            relates);

      (iv)  the original recorded assignment or assignments of the Mortgage
            together with all interim recorded assignments of such Mortgage
            [(noting the presence of a MIN in the case of each Supplemental
            Mortgage Loan that is a MERS Mortgage Loan)];

      (v)   the original or copies of each assumption, modification, written
            assurance or substitution agreement, if any, with evidence of
            recording thereon if recordation thereof is permissible under
            applicable law; and

      (vi)  the original or duplicate original lender's title policy or a
            printout of the electronic equivalent and all riders thereto or, in
            the event such original title policy has not been received from the
            insurer, any one of an original title binder, an original
            preliminary title report or an original title commitment, or a copy
            thereof certified by the title company, with the original policy of
            title insurance to be delivered within one year of the Closing Date.

      In the event that in connection with any Supplemental Mortgage Loan that
is not a MERS Mortgage Loan the Seller cannot deliver the original recorded
Mortgage or all interim recorded assignments of the Mortgage satisfying the
requirements of clause (ii), (iii) or (iv), as applicable, the Trustee has
received, in lieu thereof, a true and complete copy of such Mortgage and/or such
assignment or assignments of the Mortgage, as applicable, each certified by the
Seller, the applicable title company, escrow agent or attorney, or the
originator of such Supplemental Mortgage Loan, as the case may be, to be a true
and complete copy of the original Mortgage or assignment of Mortgage submitted
for recording.

                                      H-2-2
<PAGE>

      Based on its review and examination and only as to the foregoing
documents, (i) such documents appear regular on their face and related to such
Supplemental Mortgage Loan, and (ii) the information set forth in items (i),
(iv), (v), (vi), (viii), (xi) and (xiv) of the definition of the "Mortgage Loan
Schedule" in Section 1.01 of the Pooling and Servicing Agreement accurately
reflects information set forth in the Mortgage File.

      The Trustee has made no independent examination of any documents contained
in each Mortgage File beyond the review specifically required in the
above-referenced Pooling and Servicing Agreement. The Trustee makes no
representations as to: (i) the validity, legality, sufficiency, enforceability
or genuineness of any of the documents contained in each Mortgage File of any of
the Supplemental Mortgage Loans identified on the [Mortgage Loan Schedule][Loan
Number and Borrower Identification Mortgage Loan Schedule] or (ii) the
collectibility, insurability, effectiveness or suitability of any such
Supplemental Mortgage Loan.

                                     H-2-3
<PAGE>

      Capitalized words and phrases used herein shall have the respective
meanings assigned to them in the Pooling and Servicing Agreement.

                                       THE BANK OF NEW YORK,
                                         as Trustee

                                       By :
                                           --------------------------
                                       Name:
                                       Title:

                                      H-2-4
<PAGE>

                                    EXHIBIT I

                          [FORM OF] TRANSFER AFFIDAVIT

                                   CWALT, Inc.
                       Mortgage Pass-Through Certificates
                                  Series 200_-_

STATE OF                     )
                             ) ss.:
COUNTY OF                    )

      The undersigned, being first duly sworn, deposes and says as follows:

            1. The undersigned is an officer of ____________ , the proposed
Transferee of an Ownership Interest in a Class A-R Certificate (the
"Certificate") issued pursuant to the Pooling and Servicing Agreement, dated as
of _________ __, 2___ (the "Agreement"), by and among CWALT, Inc., as depositor
(the "Depositor"), Countrywide Home Loans, Inc. (the "Company"), as a Seller,
Park Granada LLC, as a Seller, Park Monaco, Inc., as a Seller, Park Sienna LLC,
as a Seller (and together with the Company, Park Granada and Park Monaco, the
"Sellers"), Countrywide Home Loans Servicing LP, as Master Servicer and The Bank
of New York, as Trustee. Capitalized terms used, but not defined herein or in
Exhibit 1 hereto, shall have the meanings ascribed to such terms in the
Agreement. The Transferee has authorized the undersigned to make this affidavit
on behalf of the Transferee.

            2. The Transferee is not an employee benefit plan that is subject to
Title I of ERISA or to section 4975 of the Internal Revenue Code of 1986, nor is
it acting on behalf of or with plan assets of any such plan. The Transferee is,
as of the date hereof, and will be, as of the date of the Transfer, a Permitted
Transferee. The Transferee will endeavor to remain a Permitted Transferee for so
long as it retains its Ownership Interest in the Certificate. The Transferee is
acquiring its Ownership Interest in the Certificate for its own account.

            3. The Transferee has been advised of, and understands that (i) a
tax will be imposed on Transfers of the Certificate to Persons that are not
Permitted Transferees; (ii) such tax will be imposed on the transferor, or, if
such Transfer is through an agent (which includes a broker, nominee or
middleman) for a Person that is not a Permitted Transferee, on the agent; and
(iii) the Person otherwise liable for the tax shall be relieved of liability for
the tax if the subsequent Transferee furnished to such Person an affidavit that
such subsequent Transferee is a Permitted Transferee and, at the time of
Transfer, such Person does not have actual knowledge that the affidavit is
false.

            4. The Transferee has been advised of, and understands that a tax
will be imposed on a "pass-through entity" holding the Certificate if at any
time during the taxable year of the pass-through entity a Person that is not a
Permitted Transferee is the record holder of an

                                       I-1
<PAGE>

interest in such entity. The Transferee understands that such tax will not be
imposed for any period with respect to which the record holder furnishes to the
pass-through entity an affidavit that such record holder is a Permitted
Transferee and the pass-through entity does not have actual knowledge that such
affidavit is false. (For this purpose, a "pass-through entity" includes a
regulated investment company, a real estate investment trust or common trust
fund, a partnership, trust or estate, and certain cooperatives and, except as
may be provided in Treasury Regulations, persons holding interests in
pass-through entities as a nominee for another Person.)

            5. The Transferee has reviewed the provisions of Section 5.02(c) of
the Agreement (attached hereto as Exhibit 2 and incorporated herein by
reference) and understands the legal consequences of the acquisition of an
Ownership Interest in the Certificate including, without limitation, the
restrictions on subsequent Transfers and the provisions regarding voiding the
Transfer and mandatory sales. The Transferee expressly agrees to be bound by and
to abide by the provisions of Section 5.02(c) of the Agreement and the
restrictions noted on the face of the Certificate. The Transferee understands
and agrees that any breach of any of the representations included herein shall
render the Transfer to the Transferee contemplated hereby null and void.

            6. The Transferee agrees to require a Transfer Affidavit from any
Person to whom the Transferee attempts to Transfer its Ownership Interest in the
Certificate, and in connection with any Transfer by a Person for whom the
Transferee is acting as nominee, trustee or agent, and the Transferee will not
Transfer its Ownership Interest or cause any Ownership Interest to be
Transferred to any Person that the Transferee knows is not a Permitted
Transferee. In connection with any such Transfer by the Transferee, the
Transferee agrees to deliver to the Trustee a certificate substantially in the
form set forth as Exhibit J-1 to the Agreement (a "Transferor Certificate") to
the effect that such Transferee has no actual knowledge that the Person to which
the Transfer is to be made is not a Permitted Transferee.

            7. The Transferee does not have the intention to impede the
assessment or collection of any tax legally required to be paid with respect to
the Class A-R Certificates.

            8. The Transferee's taxpayer identification number is ___________.

            9. The Transferee is a U.S. Person as defined in Code section
7701(a)(30) and, unless the Transferor (or any subsequent transferor) expressly
waives such requirement, will not cause income from the Certificate to be
attributable to a foreign permanent establishment or fixed base (within the
meaning of an applicable income tax treaty) of the Transferee or another U.S.
taxpayer.

            10. The Transferee is aware that the Class A~R Certificates may be
"noneconomic residual interests" within the meaning of Treasury Regulation
Section 1.860E-1(c) and that the transferor of a noneconomic residual interest
will remain liable for any taxes due with respect to the income on such residual
interest, unless no significant purpose of the transfer was to impede the
assessment or collection of tax. In addition, as the Holder of a

                                       I-2
<PAGE>

noneconomic residual interest, the Transferee may incur tax liabilities in
excess of any cash flows generated by the interest and the Transferee hereby
represents that it intends to pay taxes associated with holding the residual
interest as they become due.

            11. The Transferee has provided financial statements or other
financial information requested by the Transferor in connection with the
transfer of the Certificate to permit the Transferor to assess the financial
capability of the Transferee to pay such taxes. The Transferee historically has
paid its debts as they have come due and intends to pay its debts as they come
due in the future.

            12. Unless the Transferor (or any subsequent transferor) expressly
waives such requirement, the Transferee (and any subsequent transferee)
certifies (or will certify), respectively, that the transfer satisfies either
the "Asset Test" imposed by Treasury Regulation ss. 1.860E-1(c)(5) or the
"Formula Test" imposed by Treasury Regulation ss. 1.860E-1(c)(7).

                                      * * *

                                       I-3
<PAGE>

            IN WITNESS WHEREOF, the Transferee has caused this instrument to be
executed on its behalf by its duly authorized officer, this_____ day of
___________, 2___.

                                       -----------------------------------
                                       PRINT NAME OF TRANSFEREE

                                       By:
                                          --------------------------------
                                       Name:
                                       Title:

[Corporate Seal]

ATTEST:

---------------------------------
[Assistant] Secretary

      Personally appeared before me the above-named ________ , known or proved
to me to be the same person who executed the foregoing instrument and to be the
_________ of the Transferee, and acknowledged that he executed the same as his
free act and deed and the free act and deed of the Transferee.

      Subscribed and sworn before me this       day of          , 20  .
                                          -----        ---------    --

                                       -----------------------------------
                                       NOTARY PUBLIC

                                       My Commission expires the
                                       ___ day of ________, 20__

                                       I-4
<PAGE>

WAIVER OF REQUIREMENT THAT TRANSFEREE CERTIFIES TRANSFER OF CERTIFICATE
SATISFIES CERTAIN REGULATORY "SAFE HARBORS"

            The Transferor hereby waives the requirement that the Transferee
certify that the transfer of the Certificate satisfies either the "Asset Test"
imposed by Treasury Regulation ss. 1.860E-1(c)(5) or the "Formula Test" imposed
by Treasury Regulation ss. 1.860E-1(c)(7).

                                    CWALT, INC.

                                    By: ________________________________
                                        Name:
                                        Title:

                                       I-5
<PAGE>

                                                                  EXHIBIT 1 to
                                                                     EXHIBIT I

                               Certain Definitions

            "Asset Test": A transfer satisfies the Asset Test if: (i) At the
time of the transfer, and at the close of each of the transferee's two fiscal
years preceding the transferee's fiscal year of transfer, the transferee's gross
assets for financial reporting purposes exceed $100 million and its net assets
for financial reporting purposes exceed $10 million. The gross assets and net
assets of a transferee do not include any obligation of any "related person" or
any other asset if a principal purpose for holding or acquiring the other asset
is to permit the transferee to satisfy such monetary conditions; (ii) The
transferee must be an "eligible corporation" and must agree in writing that any
subsequent transfer of the interest will be to another eligible corporation in a
transaction that satisfies paragraphs 9 through 11 of this Transfer Affidavit
and the Asset Test. A transfer fails to meet the Asset Test if the transferor
knows, or has reason to know, that the transferee will not honor the
restrictions on subsequent transfers of the Certificate; and (iii) A reasonable
person would not conclude, based on the facts and circumstances known to the
transferor on or before the date of the transfer, that the taxes associated with
the Certificate will not be paid. The consideration given to the transferee to
acquire the Certificate is only one factor to be considered, but the transferor
will be deemed to know that the transferee cannot or will not pay if the amount
of consideration is so low compared to the liabilities assumed that a reasonable
person would conclude that the taxes associated with holding the Certificate
will not be paid. For purposes of applying the Asset Test, (i) an "eligible
corporation" means any domestic C corporation (as defined in section 1361(a)(2)
of the Code) other than (A) a corporation which is exempt from, or is not
subject to, tax under section 11 of the Code, (B) an entity described in section
851(a) or 856(a) of the Code, (C) A REMIC, or (D) an organization to which part
I of subchapter T of chapter 1 of subtitle A of the Code applies; (ii) a
"related person" is any person that (A) bears a relationship to the transferee
enumerated in section 267(b) or 707(b)(1) of the Code, using "20 percent"
instead of "50 percent" where it appears under the provisions, or (B) is under
common control (within the meaning of section 52(a) and (b)) with the
transferee.

            "Formula Test": A transfer satisfies the formula test if the present
value of the anticipated tax liabilities associated with holding the Certificate
does not exceed the sum of (i) the present value of any consideration given to
the transferee to acquire the Certificate; (ii) the present value of the
expected future distributions on the Certificate; and (iii) the present value of
the anticipated tax savings associated with holding the Certificate as the
issuing REMIC generates losses. For purposes of applying the Formula Test: (i)
The transferee is assumed to pay tax at a rate equal to the highest rate of tax
specified in section 11(b)(1) of the Code. If the transferee has been subject to
the alternative minimum tax under section 55 of the Code in the preceding two
years and will compute its taxable income in the current taxable year using the
alternative minimum tax rate, then the tax rate specified in section 55(b)(1)(B)
of the Code may be used in lieu of the highest rate specified in section
11(b)(1) of the Code; (ii) The transfer must satisfy paragraph 9 of the Transfer
Affidavit; and (iii) Present values are computed using a

                                       I-6
<PAGE>

discount rate equal to the Federal short-term rate prescribed by section 1274(d)
of the Code for the month of the transfer and the compounding period used by the
taxpayer.

            "Ownership Interest": As to any Certificate, any ownership interest
in such Certificate, including any interest in such Certificate as the Holder
thereof and any other interest therein, whether direct or indirect, legal or
beneficial.

            "Permitted Transferee": Any person other than (i) the United States,
any State or political subdivision thereof, or any agency or instrumentality of
any of the foregoing, (ii) a foreign government, International Organization or
any agency or instrumentality of either of the foregoing, (iii) an organization
(except certain farmers' cooperatives described in section 521 of the Code) that
is exempt from tax imposed by Chapter 1 of the Code (including the tax imposed
by section 511 of the Code on unrelated business taxable income) on any excess
inclusions (as defined in section 860E(c)(1) of the Code) with respect to any
Class A-R Certificate, (iv) rural electric and telephone cooperatives described
in section 1381(a)(2)(C) of the Code, (v) an "electing large partnership" as
defined in section 775 of the Code, (vi) a Person that is not a citizen or
resident of the United States, a corporation, partnership, or other entity
(treated as a corporation or a partnership for federal income tax purposes)
created or organized in or under the laws of the United States, any state
thereof or the District of Columbia, or an estate whose income from sources
without the United States is includible in gross income for United States
federal income tax purposes regardless of its connection with the conduct of a
trade or business within the United States, or a trust if a court within the
United States is able to exercise primary supervision over the administration of
the trust and one or more United States persons have authority to control all
substantial decisions of the trustor unless such Person has furnished the
transferor and the Trustee with a duly completed Internal Revenue Service Form
W-8ECI, and (vii) any other Person so designated by the Trustee based upon an
Opinion of Counsel that the Transfer of an Ownership Interest in a Class A-R
Certificate to such Person may cause any REMIC formed under the Agreement to
fail to qualify as a REMIC at any time that any Certificates are Outstanding.
The terms "United States," "State" and "International Organization" shall have
the meanings set forth in section 7701 of the Code or successor provisions. A
corporation will not be treated as an instrumentality of the United States or of
any State or political subdivision thereof for these purposes if all of its
activities are subject to tax and, with the exception of the Federal Home Loan
Mortgage Corporation, a majority of its board of directors is not selected by
such government unit.

            "Person": Any individual, corporation, limited liability company,
partnership, joint venture, bank, joint stock company, trust (including any
beneficiary thereof), unincorporated organization or government or any agency or
political subdivision thereof.

            "Transfer": Any direct or indirect transfer or sale of any Ownership
Interest in a Certificate, including the acquisition of a Certificate by the
Depositor.

            "Transferee": Any Person who is acquiring by Transfer any Ownership
Interest in a Certificate.

                                       I-7
<PAGE>

                                                                  EXHIBIT 2 to
                                                                     EXHIBIT I

                        Section 5.02(c) of the Agreement
                        --------------------------------

            (c) Each Person who has or who acquires any Ownership Interest in a
Class A-R Certificate shall be deemed by the acceptance or acquisition of such
Ownership Interest to have agreed to be bound by the following provisions, and
the rights of each Person acquiring any Ownership Interest in a Class A-R
Certificate are expressly subject to the following provisions:

            (1) Each Person holding or acquiring any Ownership Interest in a
      Class A-R Certificate shall be a Permitted Transferee and shall promptly
      notify the Trustee of any change or impending change in its status as a
      Permitted Transferee.

            (2) Except in connection with (i) the registration of the Tax
      Matters Person Certificate in the name of the Trustee or (ii) any
      registration in the name of, or transfer of a Class A-R Certificate to, an
      affiliate of the Depositor (either directly or through a nominee) in
      connection with the initial issuance of the Certificates, no Ownership
      Interest in a Class A-R Certificate may be registered on the Closing Date
      or thereafter transferred, and the Trustee shall not register the Transfer
      of any Class A-R Certificate unless, the Trustee shall have been furnished
      with an affidavit (a "Transfer Affidavit") of the initial owner or the
      proposed transferee in the form attached hereto as Exhibit I.

            (3) Each Person holding or acquiring any Ownership Interest in a
      Class A-R Certificate shall agree (A) to obtain a Transfer Affidavit from
      any other Person to whom such Person attempts to Transfer its Ownership
      Interest in a Class A-R Certificate, (B) to obtain a Transfer Affidavit
      from any Person for whom such Person is acting as nominee, trustee or
      agent in connection with any Transfer of a Class A-R Certificate and (C)
      not to Transfer its Ownership Interest in a Class A-R Certificate, or to
      cause the Transfer of an Ownership Interest in a Class A-R Certificate to
      any other Person, if it has actual knowledge that such Person is not a
      Permitted Transferee.

            (4) Any attempted or purported Transfer of any Ownership Interest in
      a Class A-R Certificate in violation of the provisions of this Section
      5.02(c) shall be absolutely null and void and shall vest no rights in the
      purported Transferee. If any purported transferee shall become a Holder of
      a Class A-R Certificate in violation of the provisions of this Section
      5.02(c), then the last preceding Permitted Transferee shall be restored to
      all rights as Holder thereof retroactive to the date of registration of
      Transfer of such Class A-R Certificate. The Trustee shall be under no
      liability to any Person for any registration of Transfer of a Class A-R
      Certificate that is in fact not permitted by Section 5.02(b) and this
      Section 5.02(c) or for making any payments due on such Certificate to the
      Holder thereof or taking any other action with respect to such Holder
      under the provisions of this Agreement so long as the Transfer was
      registered after receipt of the related Transfer Affidavit and Transferor
      Certificate. The Trustee shall be entitled but not obligated to recover
      from any Holder of a Class A-R Certificate that was in fact not a
      Permitted

                                       I-8
<PAGE>

      Transferee at the time it became a Holder or, at such subsequent time as
      it became other than a Permitted Transferee, all payments made on such
      Class A-R Certificate at and after either such time. Any such payments so
      recovered by the Trustee shall be paid and delivered by the Trustee to the
      last preceding Permitted Transferee of such Certificate.

            (5) The Depositor shall use its best efforts to make available, upon
      receipt of written request from the Trustee, all information necessary to
      compute any tax imposed under section 860E(e) of the Code as a result of a
      Transfer of an Ownership Interest in a Class A-R Certificate to any Holder
      who is not a Permitted Transferee.

            The restrictions on Transfers of a Class A-R Certificate set forth
in this section 5.02(c) shall cease to apply (and the applicable portions of the
legend on a Class A-R Certificate may be deleted) with respect to Transfers
occurring after delivery to the Trustee of an Opinion of Counsel, which Opinion
of Counsel shall not be an expense of the Trustee, the Sellers or the Master
Servicer, to the effect that the elimination of such restrictions will not cause
any constituent REMIC of any REMIC formed hereunder to fail to qualify as a
REMIC at any time that the Certificates are outstanding or result in the
imposition of any tax on the Trust Fund, a Certificateholder or another Person.
Each Person holding or acquiring any ownership Interest in a Class A-R
Certificate hereby consents to any amendment of this Agreement that, based on an
Opinion of Counsel furnished to the Trustee, is reasonably necessary (a) to
ensure that the record ownership of, or any beneficial interest in, a Class A-R
Certificate is not transferred, directly or indirectly, to a Person that is not
a Permitted Transferee and (b) to provide for a means to compel the Transfer of
a Class A-R Certificate that is held by a Person that is not a Permitted
Transferee to a Holder that is a Permitted Transferee.

                                       I-9
<PAGE>

                                   EXHIBIT J-1

                        [FORM OF] TRANSFEROR CERTIFICATE
                                   (RESIDUAL)

                                                      ---------------------
                                                      Date

CWALT, Inc.
4500 Park Granada
Calabasas, California  91302
Attention:  Josh Adler

The Bank of New York
101 Barclay Street - 8W
New York, New York  10286

Attention:  Mortgage-Backed Securities Group
            Series 200_-_
            Re:     CWALT, Inc. Mortgage Pass-Through Certificates,
            Series 200_-_, Class
            -------------------------------------

Ladies and Gentlemen:

            In connection with our disposition of the above Certificates we
certify that to the extent we are disposing of a Class A-R Certificate, we have
no knowledge the Transferee is not a Permitted Transferee.

                                       Very truly yours,

                                       ---------------------------------
                                       Print Name of Transferor

                                       By:
                                           -----------------------------------
                                                   Authorized Officer

                                      J-1-1
<PAGE>

                                   EXHIBIT J-2

                        [FORM OF] TRANSFEROR CERTIFICATE
                                    (PRIVATE)

                                                      ---------------------
                                                      Date

CWALT, Inc.
4500 Park Granada
Calabasas, California  91302
Attention:  Josh Adler

The Bank of New York
101 Barclay Street - 8W
New York, New York  10286

Attention:  Mortgage-Backed Securities Group
            Series 200_-_
            Re:     CWALT, Inc. Mortgage Pass-Through Certificates,
            Series 200_-_, Class
            -------------------------------------

Ladies and Gentlemen:

            In connection with our disposition of the above Certificates we
certify that (a) we understand that the Certificates have not been registered
under the Securities Act of 1933, as amended (the "Act"), and are being disposed
by us in a transaction that is exempt from the registration requirements of the
Act, (b) we have not offered or sold any Certificates to, or solicited offers to
buy any Certificates from, any person, or otherwise approached or negotiated
with any person with respect thereto, in a manner that would be deemed, or taken
any other action which would result in, a violation of Section 5 of the Act.

                                       Very truly yours,

                                       ------------------------------
                                       Print Name of Transferor

                                       By:
                                           -----------------------------------
                                                   Authorized Officer

                                      J-2-1
<PAGE>

                                    EXHIBIT K

                   [FORM OF] INVESTMENT LETTER (NON-RULE 144A)

                                             -------------------------
                                             Date

CWALT, Inc.
4500 Park Granada
Calabasas, California  91302
Attention:  Josh Adler

The Bank of New York
101 Barclay Street - 8W
New York, New York  10286

Attention:  Mortgage-Backed Securities Group
            Series 200_-_

      Re:   CWALT, Inc. Mortgage Pass-Through Certificates,
            Series 200_-_, Class
            -------------------------------------

Ladies and Gentlemen:

            In connection with our acquisition of the above Certificates we
certify that (a) we understand that the Certificates are not being registered
under the Securities Act of 1933, as amended (the "Act"), or any state
securities laws and are being transferred to us in a transaction that is exempt
from the registration requirements of the Act and any such laws, (b) we are an
"accredited investor," as defined in Regulation D under the Act, and have such
knowledge and experience in financial and business matters that we are capable
of evaluating the merits and risks of investments in the Certificates, (c) we
have had the opportunity to ask questions of and receive answers from the
Depositor concerning the purchase of the Certificates and all matters relating
thereto or any additional information deemed necessary to our decision to
purchase the Certificates, (d) either (i) we are not an employee benefit plan
that is subject to the Employee Retirement Income Security Act of 1974, as
amended ("ERISA"), or a plan or arrangement that is subject to Section 4975 of
the Internal Revenue Code of 1986, as amended, nor are we acting on behalf of or
investing the assets of any such benefit plan or arrangement to effect such
acquisition or (ii) if the Certificates have been the subject of an
ERISA-Qualifying Underwriting and we are an insurance company, we are purchasing
such Certificates with funds contained in an "insurance company general account"
(as such term is defined in Section V(e) of Prohibited Transaction Class
Exemption 95-60 ("PTCE 95-60")) and the purchase and holding of such
Certificates satisfy the requirements for exemptive relief under Sections I and
III of PTCE 95-60,

                                       K-1
<PAGE>

(e) we are acquiring the Certificates for investment for our own account and not
with a view to any distribution of such Certificates (but without prejudice to
our right at all times to sell or otherwise dispose of the Certificates in
accordance with clause (g) below), (f) we have not offered or sold any
Certificates to, or solicited offers to buy any Certificates from, any person,
or otherwise approached or negotiated with any person with respect thereto, or
taken any other action which would result in a violation of Section 5 of the
Act, and (g) we will not sell, transfer or otherwise dispose of any Certificates
unless (1) such sale, transfer or other disposition is made pursuant to an
effective registration statement under the Act or is exempt from such
registration requirements, and if requested, we will at our expense provide an
opinion of counsel satisfactory to the addressees of this Certificate that such
sale, transfer or other disposition may be made pursuant to an exemption from
the Act, (2) the purchaser or transferee of such Certificate has executed and
delivered to you a certificate to substantially the same effect as this
certificate, and (3) the purchaser or transferee has otherwise complied with any
conditions for transfer set forth in the Pooling and Servicing Agreement.

                                       Very truly yours,

                                       ------------------------------------
                                       Print Name of Transferee

                                       By:
                                           ---------------------------
                                       Authorized Officer

                                       K-2
<PAGE>

                                   EXHIBIT L-1

                           [FORM OF] RULE 144A LETTER

                                               ---------------------
                                               Date

CWALT, Inc.
4500 Park Granada
Calabasas, California  91302
Attention:  Josh Adler

The Bank of New York
101 Barclay Street - 8W
New York, New York  10286

Attention:  Mortgage-Backed Securities Group
            Series 200_-_

      Re:   CWALT, Inc. Mortgage Pass-Through Certificates,
            Series 200_-_, Class
            -------------------------------------

Ladies and Gentlemen:

            In connection with our acquisition of the above Certificates we
certify that (a) we understand that the Certificates are not being registered
under the Securities Act of 1933, as amended (the "Act"), or any state
securities laws and are being transferred to us in a transaction that is exempt
from the registration requirements of the Act and any such laws, (b) we have
such knowledge and experience in financial and business matters that we are
capable of evaluating the merits and risks of investments in the Certificates,
(c) we have had the opportunity to ask questions of and receive answers from the
Depositor concerning the purchase of the Certificates and all matters relating
thereto or any additional information deemed necessary to our decision to
purchase the Certificates, (d) either (i) we are not an employee benefit plan
that is subject to the Employee Retirement Income Security Act of 1974, as
amended ("ERISA"), or a plan or arrangement that is subject to Section 4975 of
the Internal Revenue Code of 1986, as amended, nor are we acting on behalf of or
investing the assets of any such benefit plan or arrangement to effect such
acquisition or (ii) if the Certificates have been the subject of an
ERISA-Qualifying Underwriting and we are an insurance company, we are purchasing
such Certificates with funds contained in an "insurance company general account"
(as such term is defined in Section V(e) of Prohibited Transaction Class
Exemption 95-60 ("PTCE 95-60")) and the purchase and holding of such
Certificates satisfy the requirements for exemptive relief under Sections I and
III of PTCE 95-60, (e) we have not, nor has anyone acting on our behalf offered,
transferred, pledged, sold or

                                      L-1-1
<PAGE>

otherwise disposed of the Certificates, any interest in the Certificates or any
other similar security to, or solicited any offer to buy or accept a transfer,
pledge or other disposition of the Certificates, any interest in the
Certificates or any other similar security from, or otherwise approached or
negotiated with respect to the Certificates, any interest in the Certificates or
any other similar security with, any person in any manner, or made any general
solicitation by means of general advertising or in any other manner, or taken
any other action, that would constitute a distribution of the Certificates under
the Securities Act or that would render the disposition of the Certificates a
violation of Section 5 of the Securities Act or require registration pursuant
thereto, nor will act, nor has authorized or will authorize any person to act,
in such manner with respect to the Certificates, (f) we are a "qualified
institutional buyer" as that term is defined in Rule 144A under the Securities
Act and have completed either of the forms of certification to that effect
attached hereto as Annex 1 or Annex 2. We are aware that the sale to us is being
made in reliance on Rule 144A. We are acquiring the Certificates for our own
account or for resale pursuant to Rule 144A and further, understand that such
Certificates may be resold, pledged or transferred only (i) to a person
reasonably believed to be a qualified institutional buyer that purchases for its
own account or for the account of a qualified institutional buyer to whom notice
is given that the resale, pledge or transfer is being made in reliance on Rule
144A, or (ii) pursuant to another exemption from registration under the
Securities Act.

                                       Very truly yours,

                                       -------------------------------------
                                       Print Name of Transferee

                                       By:
                                           ---------------------------
                                          Authorized Officer

                                      L-1-2
<PAGE>

                                                        ANNEX 1 TO EXHIBIT L-1
                                                        ----------------------

            QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A
            --------------------------------------------------------

          [For Transferees Other Than Registered Investment Companies]

            The undersigned (the "Buyer") hereby certifies as follows to the
parties listed in the Rule 144A Transferee Certificate to which this
certification relates with respect to the Certificates described therein:

            1. As indicated below, the undersigned is the President, Chief
Financial Officer, Senior Vice President or other executive officer of the
Buyer.

            2. In connection with purchases by the Buyer, the Buyer is a
"qualified institutional buyer" as that term is defined in Rule 144A under the
Securities Act of 1933, as amended ("Rule 144A") because (i) the Buyer owned
and/or invested on a discretionary basis either at least $100,000 in securities
or, if Buyer is a dealer, Buyer must own and/or invest on a discretionary basis
at least $10,000,000 in securities (except for the excluded securities referred
to below) as of the end of the Buyer's most recent fiscal year (such amount
being calculated in accordance with Rule 144A and (ii) the Buyer satisfies the
criteria in the category marked below.

            ___   Corporation, etc. The Buyer is a corporation (other than a
                  bank, savings and loan association or similar institution),
                  Massachusetts or similar business trust, partnership, or
                  charitable organization described in Section 501(c)(3) of the
                  Internal Revenue Code of 1986, as amended.

            ___   Bank. The Buyer (a) is a national bank or banking institution
                  organized under the laws of any State, territory or the
                  District of Columbia, the business of which is substantially
                  confined to banking and is supervised by the State or
                  territorial banking commission or similar official or is a
                  foreign bank or equivalent institution, and (b) has an audited
                  net worth of at least $25,000,000 as demonstrated in its
                  latest annual financial statements, a copy of which is
                  attached hereto.

            ___   Savings and Loan. The Buyer (a) is a savings and loan
                  association, building and loan association, cooperative bank,
                  homestead association or similar institution, which is
                  supervised and examined by a State or Federal authority having
                  supervision over any such institutions or is a foreign savings
                  and loan association or equivalent institution and (b) has an
                  audited net worth of at least $25,000,000 as demonstrated in
                  its latest annual financial statements, a copy of which is
                  attached hereto.

                                      L-1-3
<PAGE>

            ___   Broker-dealer. The Buyer is a dealer registered pursuant to
                  Section 15 of the Securities Exchange Act of 1934.

            ___   Insurance Company. The Buyer is an insurance company whose
                  primary and predominant business activity is the writing of
                  insurance or the reinsuring of risks underwritten by insurance
                  companies and which is subject to supervision by the insurance
                  commissioner or a similar official or agency of a State,
                  territory or the District of Columbia.

            ___   State or Local Plan. The Buyer is a plan established and
                  maintained by a State, its political subdivisions, or any
                  agency or instrumentality of the State or its political
                  subdivisions, for the benefit of its employees.

            ___   ERISA Plan. The Buyer is an employee benefit plan within the
                  meaning of Title I of the Employee Retirement Income Security
                  Act of 1974.

            ___   Investment Advisor. The Buyer is an investment advisor
                  registered under the Investment Advisors Act of 1940.

            ___   Small Business Investment Company. Buyer is a small business
                  investment company licensed by the U.S. Small Business
                  Administration under Section 301(c) or (d) of the Small
                  Business Investment Act of 1958.

            ___   Business Development Company. Buyer is a business development
                  company as defined in Section 202(a)(22) of the Investment
                  Advisors Act of 1940.

            3. The term "securities" as used herein does not include (i)
securities of issuers that are affiliated with the Buyer, (ii) securities that
are part of an unsold allotment to or subscription by the Buyer, if the Buyer is
a dealer, (iii) securities issued or guaranteed by the U.S. or any
instrumentality thereof, (iv) bank deposit notes and certificates of deposit,
(v) loan participations, (vi) repurchase agreements, (vii) securities owned but
subject to a repurchase agreement and (viii) currency, interest rate and
commodity swaps.

            4. For purposes of determining the aggregate amount of securities
owned and/or invested on a discretionary basis by the Buyer, the Buyer used the
cost of such securities to the Buyer and did not include any of the securities
referred to in the preceding paragraph, except (i) where the Buyer reports its
securities holdings in its financial statements on the basis of their market
value, and (ii) no current information with respect to the cost of those
securities has been published. If clause (ii) in the preceding sentence applies,
the securities may be valued at market. Further, in determining such aggregate
amount, the Buyer may have included securities owned by subsidiaries of the
Buyer, but only if such subsidiaries are consolidated with the Buyer in its
financial statements prepared in accordance with generally accepted accounting
principles and if the investments of such subsidiaries are managed under the
Buyer's direction. However, such securities were not included if the Buyer is a
majority-owned,

                                      L-1-4
<PAGE>

consolidated subsidiary of another enterprise and the Buyer is not itself a
reporting company under the Securities Exchange Act of 1934, as amended.

            5. The Buyer acknowledges that it is familiar with Rule 144A and
understands that the seller to it and other parties related to the Certificates
are relying and will continue to rely on the statements made herein because one
or more sales to the Buyer may be in reliance on Rule 144A.

            6. Until the date of purchase of the Rule 144A Securities, the Buyer
will notify each of the parties to which this certification is made of any
changes in the information and conclusions herein. Until such notice is given,
the Buyer's purchase of the Certificates will constitute a reaffirmation of this
certification as of the date of such purchase. In addition, if the Buyer is a
bank or savings and loan is provided above, the Buyer agrees that it will
furnish to such parties updated annual financial statements promptly after they
become available.

                                       ----------------------------------------
                                                   Print Name of Buyer

                                       By:
                                          ------------------------------------
                                       Name:
                                       Title:

                                       Date:
                                             ---------------------------------

                                      L-1-5
<PAGE>

                                                        ANNEX 2 TO EXHIBIT L-1
                                                        ----------------------

            QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A
            --------------------------------------------------------

           [For Transferees That are Registered Investment Companies]

            The undersigned (the "Buyer") hereby certifies as follows to the
parties listed in the Rule 144A Transferee Certificate to which this
certification relates with respect to the Certificates described therein:

            1. As indicated below, the undersigned is the President, Chief
      Financial Officer or Senior Vice President of the Buyer or, if the Buyer
      is a "qualified institutional buyer" as that term is defined in Rule 144A
      under the Securities Act of 1933, as amended ("Rule 144A") because Buyer
      is part of a Family of Investment Companies (as defined below), is such an
      officer of the Adviser.

            2. In connection with purchases by Buyer, the Buyer is a "qualified
      institutional buyer" as defined in SEC Rule 144A because (i) the Buyer is
      an investment company registered under the Investment Company Act of 1940,
      as amended and (ii) as marked below, the Buyer alone, or the Buyer's
      Family of Investment Companies, owned at least $100,000,000 in securities
      (other than the excluded securities referred to below) as of the end of
      the Buyer's most recent fiscal year. For purposes of determining the
      amount of securities owned by the Buyer or the Buyer's Family of
      Investment Companies, the cost of such securities was used, except (i)
      where the Buyer or the Buyer's Family of Investment Companies reports its
      securities holdings in its financial statements on the basis of their
      market value, and (ii) no current information with respect to the cost of
      those securities has been published. If clause (ii) in the preceding
      sentence applies, the securities may be valued at market.

            ___   The Buyer owned $_______ in securities (other than the
                  excluded securities referred to below) as of the end of the
                  Buyer's most recent fiscal year (such amount being calculated
                  in accordance with Rule 144A).

            ___   The Buyer is part of a Family of Investment Companies which
                  owned in the aggregate $________ in securities (other than the
                  excluded securities referred to below) as of the end of the
                  Buyer's most recent fiscal year (such amount being calculated
                  in accordance with Rule 144A).

            3. The term "Family of Investment Companies" as used herein means
      two or more registered investment companies (or series thereof) that have
      the same investment adviser or investment advisers that are affiliated (by
      virtue of being majority owned subsidiaries of the same parent or because
      one investment adviser is a majority owned subsidiary of the other).

                                      L-1-6
<PAGE>

            4. The term "securities" as used herein does not include (i)
      securities of issuers that are affiliated with the Buyer or are part of
      the Buyer's Family of Investment Companies, (ii) securities issued or
      guaranteed by the U.S. or any instrumentality thereof, (iii) bank deposit
      notes and certificates of deposit, (iv) loan participations, (v)
      repurchase agreements, (vi) securities owned but subject to a repurchase
      agreement and (vii) currency, interest rate and commodity swaps.

            5. The Buyer is familiar with Rule 144A and understands that the
      parties listed in the Rule 144A Transferee Certificate to which this
      certification relates are relying and will continue to rely on the
      statements made herein because one or more sales to the Buyer will be in
      reliance on Rule 144A. In addition, the Buyer will only purchase for the
      Buyer's own account.

            6. Until the date of purchase of the Certificates, the undersigned
      will notify the parties listed in the Rule 144A Transferee Certificate to
      which this certification relates of any changes in the information and
      conclusions herein. Until such notice is given, the Buyer's purchase of
      the Certificates will constitute a reaffirmation of this certification by
      the undersigned as of the date of such purchase.

                                        ---------------------------------------
                                              Print Name of Buyer or Adviser

                                        By: ________________________________
                                                                            -
                                        Name:
                                        Title:

                                        IF AN ADVISER:

                                        ---------------------------------------
                                                 Print Name of Buyer

                                        Date: ______________________________

                                      L-1-7
<PAGE>

                                   EXHIBIT L-2

                  [FORM OF] ERISA LETTER (COVERED CERTIFICATES)

                                               ---------------------
                                               Date

CWALT, Inc.
4500 Park Granada
Calabasas, California  91302
Attention:  Josh Adler

The Bank of New York
101 Barclay Street - 8W
New York, New York  10286

Attention:  Mortgage-Backed Securities Group
            Series 200_-_

      Re:   CWALT, Inc. Mortgage Pass-Through Certificates,
            Series 200_-_, Class
            -------------------------------------

Ladies and Gentlemen:

            In connection with our acquisition of the above Certificates, we
certify that we are not, and are not acquiring the Certificates on behalf of or
with plan assets of an "employee benefit plan" as defined in section 3(3) of
ERISA that is subject to Title I of ERISA, a "plan" as defined in section 4975
of the Code that is subject to section 4975 of the Code, or any person investing
on behalf of or with plan assets (as defined in 29 CFR ss.2510.3-101 or
otherwise under ERISA) of such an employee benefit plan or plan, or (ii) the
purchase and holding of the Certificates satisfy the requirements for exemptive
relief under PTCE 84-14, PTCE 90-1, PTCE 91-38, PTCE 95-60, PTCE 96-23 or a
similar exemption. We understand that, in the event that such representation is
violated, such transfer or acquisition shall be void and of no effect.

                                       Very truly yours,

                                       -----------------------------------
                                       Print Name of Transferee

                                       By:
                                           ---------------------------
                                           Authorized Officer

                                      L-2-1
<PAGE>

                                    EXHIBIT M

                          [FORM OF] REQUEST FOR RELEASE
                                  (for Trustee)

CWALT, Inc.
Mortgage Pass-Through Certificates
Series 200_-_

Loan Information
----------------

      Name of Mortgagor:            __________________________________________

      Servicer Loan No.:            __________________________________________

Trustee
-------

      Name:                         __________________________________________

      Address:                      __________________________________________

                                    __________________________________________

                                    __________________________________________

      Trustee
      Mortgage File No.:            __________________________________________

      The undersigned Master Servicer hereby acknowledges that it has received
from The Bank of New York, as Trustee for the Holders of Mortgage Pass-Through
Certificates, of the above-referenced Series, the documents referred to below
(the "Documents"). All capitalized terms not otherwise defined in this Request
for Release shall have the meanings given them in the Pooling and Servicing
Agreement (the "Pooling and Servicing Agreement") relating to the
above-referenced Series among the Trustee, Countrywide Home Loans, Inc., as a
Seller, Park Granada LLC, as a Seller, Park Monaco, Inc., as a Seller, Park
Sienna LLC, as a Seller, Countrywide Home Loans Servicing LP, as Master Servicer
and CWALT, Inc., as Depositor.

( )   Mortgage Note dated _______________, 20__, in the original principal sum
      of $___________, made by ____________________________, payable to, or
      endorsed to the order of, the Trustee.

( )   Mortgage recorded on __________________ as instrument no.
      ______________________ in the County Recorder's Office of the County of
      _________________________, State of _______________________ in
      book/reel/docket _________________________ of official records at
      page/image _______________________________.

                                       M-1
<PAGE>

( )   Deed of Trust recorded on ______________________ as instrument no.
      ___________ in the County Recorder's Office of the County of
      __________________________, State of _____________________ in
      book/reel/docket _________________________ of official records at
      page/image ____________________________.

( )   Assignment of Mortgage or Deed of Trust to the Trustee, recorded on
      _____________________ as instrument no. __________________ in the County
      Recorder's Office of the County of _____________________, State of
      ___________________ in book/reel/docket ________________ of official
      records at page/image ______________________.

( )   Other documents, including any amendments, assignments or other
      assumptions of the Mortgage Note or Mortgage.

     (   )_____________________________________________________________________

     (   )_____________________________________________________________________

     (   )_____________________________________________________________________

     (   )_____________________________________________________________________

      The undersigned Master Servicer hereby acknowledges and agrees as follows:

            (1) The Master Servicer shall hold and retain possession of the
      Documents in trust for the benefit of the Trustee, solely for the purposes
      provided in the Agreement.

            (2) The Master Servicer shall not cause or knowingly permit the
      Documents to become subject to, or encumbered by, any claim, liens,
      security interest, charges, writs of attachment or other impositions nor
      shall the Servicer assert or seek to assert any claims or rights of setoff
      to or against the Documents or any proceeds thereof.

            (3) The Master Servicer shall return each and every Document
      previously requested from the Mortgage File to the Trustee when the need
      therefor no longer exists, unless the Mortgage Loan relating to the
      Documents has been liquidated and the proceeds thereof have been remitted
      to the Certificate Account and except as expressly provided in the
      Agreement.

            (4) The Documents and any proceeds thereof, including any proceeds
      of proceeds, coming into the possession or control of the Master Servicer
      shall at all times be earmarked for the account of the Trustee, and the
      Master Servicer shall keep the Documents and any proceeds separate and
      distinct from all other property in the Master Servicer's possession,
      custody or control.

                                       M-2
<PAGE>

                                          COUNTRYWIDE HOME LOANS
                                          SERVICING LP

                                          By
                                             ---------------------------------

                                          Its
                                              --------------------------------

Date:_________________, 20__

                                       M-3
<PAGE>

                                    EXHIBIT N

                   [FORM OF] REQUEST FOR RELEASE OF DOCUMENTS

To:   The Bank of New York                            Attn:  Mortgage Custody
                                                      Services

      Re:   The Pooling & Servicing Agreement dated [month] 1, 200_, among
            Countrywide Home Loans, Inc., as a Seller, Park Granada LLC, as a
            Seller, Park Monaco, Inc., as a Seller, Park Sienna LLC, as a
            Seller, Countrywide Home Loans Servicing LP, as Master Servicer,
            CWALT, Inc. and The Bank of New York, as Trustee
            ------------------------------------------------

Ladies and Gentlemen:

      In connection with the administration of the Mortgage Loans held by you as
Trustee for CWALT, Inc., we request the release of the Mortgage Loan File for
the Mortgage Loan(s) described below, for the reason indicated.

FT Account #:                                  Pool #:

Mortgagor's Name, Address and Zip Code:

Mortgage Loan Number:

Reason for Requesting Documents (check one)

      1.    Mortgage Loan paid in full (Countrywide Home Loans, Inc. hereby
            certifies that all amounts have been received).

      2.    Mortgage Loan Liquidated (Countrywide Home Loans, Inc. hereby
            certifies that all proceeds of foreclosure, insurance, or other
            liquidation have been finally received).

      3.    Mortgage Loan in Foreclosure.

      4.    Mortgage Loan repurchased by the Master Servicer pursuant to Section
            3.11(a) (Countrywide Home Loans Servicing LP hereby certifies that
            the Purchase Price for the Mortgage Loan has been deposited in the
            Certificate Account).

      5.    Other (explain):

      If item 1 or 2 above is checked, and if all or part of the Mortgage File
was previously released to us, please release to us our previous receipt on file
with you, as well as any additional documents in your possession relating to the
above-specified Mortgage Loan. If item 3, 4 or 5 is checked, upon return of all
of the above documents to you as Trustee, please acknowledge your receipt by
signing in the space indicated below, and returning this form.

                                       N-1
<PAGE>

COUNTRYWIDE HOME LOANS, INC.
4500 Park Granada
Calabasas, California  91302

By:
   --------------------------------
Name:
     ------------------------------
Title:
      -----------------------------
Date:
     ------------------------------

[COUNTRYWIDE HOME LOANS SERVICING LP]

By:
   --------------------------------
Name:
     ------------------------------
Title:
      -----------------------------
Date:
     ------------------------------

TRUSTEE CONSENT TO RELEASE AND
ACKNOWLEDGEMENT OF RECEIPT

By:
   --------------------------------
Name:
     ------------------------------
Title:
      -----------------------------
Date:
     ------------------------------

                                       N-2
<PAGE>

                                    EXHIBIT O

                GLOSSARY OF TERMS FOR STANDARD & POOR'S LEVELS(R)
                             VERSION 5.7 FILE FORMAT

APPENDIX  E - Standard & Poor's Predatory Lending Categories
--------  --------------------------------------------------

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

<TABLE>
<CAPTION>
Standard & Poor's High Cost Loan Categorization
-----------------------------------------------
<S>                            <C>                                            <C>
--------------------------------------------------------------------------------------------------------
      State/Jurisdiction       Name of Anti-Predatory Lending Law/Effective   Category under Applicable
                                                   Date                       Anti-Predatory Lending Law
--------------------------------------------------------------------------------------------------------
Arkansas                       Arkansas Home Loan Protection Act, Ark. Code   High Cost Home Loan
                               Ann. ss.ss. 23-53-101 et seq.

                               Effective July 16, 2003
--------------------------------------------------------------------------------------------------------
Cleveland Heights, OH          Ordinance No. 72-2003 (PSH), Mun. Code ss.ss.  Covered Loan
                               757.01 et seq.

                               Effective June 2, 2003
--------------------------------------------------------------------------------------------------------
Colorado                       Consumer Equity Protection, Colo. Stat. Ann.   Covered Loan
                               ss.ss. 5-3.5-101 et seq.

                               Effective for covered loans offered or
                               entered into on or after January 1, 2003.
                               Other provisions of the Act took effect on
                               June 7, 2002
--------------------------------------------------------------------------------------------------------
Connecticut                    Connecticut Abusive Home Loan Lending          High Cost Home Loan
                               Practices Act, Conn. Gen. Stat. ss.ss.
                               36a-746 et seq.

                               Effective October 1, 2001
--------------------------------------------------------------------------------------------------------
District of Columbia           Home Loan Protection Act, D.C. Code ss.ss.     Covered Loan
                               26-1151.01 et seq.

                               Effective for loans closed on or after
                               January 28, 2003
--------------------------------------------------------------------------------------------------------
</TABLE>

                                                   O-1
<PAGE>

<TABLE>
<CAPTION>
Standard & Poor's High Cost Loan Categorization
-----------------------------------------------
<S>                            <C>                                            <C>
--------------------------------------------------------------------------------------------------------
      State/Jurisdiction       Name of Anti-Predatory Lending Law/Effective   Category under Applicable
                                                   Date                       Anti-Predatory Lending Law
--------------------------------------------------------------------------------------------------------
Florida                        Fair Lending Act, Fla. Stat. Ann. ss.ss.       High Cost Home Loan
                               494.0078 et seq.

                               Effective October 2, 2002
--------------------------------------------------------------------------------------------------------
Georgia (Oct. 1, 2002 - Mar.   Georgia Fair Lending Act, Ga. Code Ann. ss.ss. High Cost Home Loan
6, 2003)                       7-6A-1 et seq.

                               Effective October 1, 2002 - March 6, 2003
--------------------------------------------------------------------------------------------------------
Georgia as amended (Mar. 7,    Georgia Fair Lending Act, Ga. Code Ann. ss.ss. High Cost Home Loan
2003 - current)                7-6A-1 et seq.

                               Effective for loans closed on or after March
                               7, 2003
--------------------------------------------------------------------------------------------------------
HOEPA Section 32               Home Ownership and Equity Protection Act of    High Cost Loan
                               1994, 15 U.S.C. ss. 1639, 12 C.F.R. ss.ss.
                               226.32 and 226.34

                               Effective October 1, 1995, amendments
                               October 1, 2002
--------------------------------------------------------------------------------------------------------
Illinois                       High Risk Home Loan Act, Ill. Comp. Stat.      High Risk Home Loan
                               tit. 815, ss.ss. 137/5 et seq.

                               Effective January 1, 2004 (prior to this
                               date, regulations under Residential Mortgage
                               License Act effective from May 14, 2001)
--------------------------------------------------------------------------------------------------------
Kansas                         Consumer Credit Code, Kan. Stat. Ann. ss.ss.   High Loan to Value Consumer
                               16a-1-101 et seq.                              Loan (id. ss. 16a-3-207) and;

                               Sections 16a-1-301 and 16a-3-207 became        High APR Consumer Loan (id.
                               effective April 14, 1999; Section 16a-3-308a   ss. 16a-3-308a)
                               became effective July 1, 1999
--------------------------------------------------------------------------------------------------------
Kentucky                       2003 KY H.B. 287 - High Cost Home Loan Act,    High Cost Home Loan
                               Ky. Rev. Stat. ss.ss. 360.100 et seq.

                               Effective June 24, 2003
--------------------------------------------------------------------------------------------------------
</TABLE>

                                                   O-2
<PAGE>

<TABLE>
<CAPTION>
Standard & Poor's High Cost Loan Categorization
-----------------------------------------------
<S>                            <C>                                            <C>
--------------------------------------------------------------------------------------------------------
      State/Jurisdiction       Name of Anti-Predatory Lending Law/Effective   Category under Applicable
                                                   Date                       Anti-Predatory Lending Law
--------------------------------------------------------------------------------------------------------
Maine                          Truth in Lending, Me. Rev. Stat. tit. 9-A,     High Rate High Fee Mortgage
                               ss.ss. 8-101 et seq.

                               Effective September 29, 1995 and as amended
                               from time to time
--------------------------------------------------------------------------------------------------------
Massachusetts                  Part 40 and Part 32, 209 C.M.R. ss.ss. 32.00   High Cost Home Loan
                               et seq. and 209 C.M.R. ss.ss. 40.01 et seq.

                               Effective March 22, 2001 and amended from
                               time to time
--------------------------------------------------------------------------------------------------------
Nevada                         Assembly Bill No. 284, Nev. Rev. Stat. ss.ss.  Home Loan
                               598D.010 et seq.

                               Effective October 1, 2003
--------------------------------------------------------------------------------------------------------
New Jersey                     New Jersey Home Ownership Security Act of      High Cost Home Loan
                               2002, N.J. Rev. Stat. ss.ss. 46:10B-22
                               et seq.

                               Effective for loans closed on or after
                               November 27, 2003
--------------------------------------------------------------------------------------------------------
New Mexico                     Home Loan Protection Act, N.M. Rev. Stat.      High Cost Home Loan
                               ss.ss. 58-21A-1 et seq.

                               Effective as of January 1, 2004; Revised as
                               of February 26, 2004
--------------------------------------------------------------------------------------------------------
New York                       N.Y. Banking Law Article 6-l                   High Cost Home Loan

                               Effective for applications made on or after
                               April 1, 2003
--------------------------------------------------------------------------------------------------------
North Carolina                 Restrictions and Limitations on High Cost      High Cost Home Loan
                               Home Loans, N.C. Gen. Stat. ss.ss. 24-1.1E
                               et seq.

                               Effective July 1, 2000; amended October 1,
                               2003 (adding open-end lines of credit)
--------------------------------------------------------------------------------------------------------
Ohio                           H.B. 386 (codified in various sections of      Covered Loan
                               the Ohio Code), Ohio Rev. Code Ann.
--------------------------------------------------------------------------------------------------------
</TABLE>

                                                   O-3
<PAGE>

<TABLE>
<CAPTION>
Standard & Poor's High Cost Loan Categorization
-----------------------------------------------
<S>                            <C>                                            <C>
--------------------------------------------------------------------------------------------------------
      State/Jurisdiction       Name of Anti-Predatory Lending Law/Effective   Category under Applicable
                                                   Date                       Anti-Predatory Lending Law
--------------------------------------------------------------------------------------------------------
                               ss.ss. 1349.25 et seq.

                               Effective May 24, 2002
---------------------------------------------------------------------------------------------------------
Oklahoma                       Consumer Credit Code (codified in various      Subsection 10 Mortgage
                               sections of Title 14A)

                               Effective July 1, 2000; amended effective
                               January 1, 2004
--------------------------------------------------------------------------------------------------------
South Carolina                 South Carolina High Cost and Consumer Home     High Cost Home Loan
                               Loans Act, S.C. Code Ann. ss.ss. 37-23-10
                               et seq.

                               Effective for loans taken on or after
                               January 1, 2004
--------------------------------------------------------------------------------------------------------
West Virginia                  West Virginia Residential Mortgage Lender,     West Virginia Mortgage Loan
                               Broker and Servicer Act, W. Va. Code Ann.      Act Loan
                               ss.ss. 31-17-1 et seq.

                               Effective June 5, 2002
--------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
Standard & Poor's Covered Loan Categorization
---------------------------------------------
<S>                            <C>                                            <C>
-----------------------------------------------------------------------------------------------------------
      State/Jurisdiction       Name of Anti-Predatory Lending Law/Effective   Category under Applicable
                                                   Date                       Anti-Predatory Lending Law
-----------------------------------------------------------------------------------------------------------

Georgia (Oct. 1, 2002 - Mar.   Georgia Fair Lending Act, Ga. Code Ann. ss.ss. Covered Loan
6, 2003)                       7-6A-1 et seq.

                               Effective October 1, 2002 - March 6, 2003
-----------------------------------------------------------------------------------------------------------

New Jersey                     New Jersey Home Ownership Security Act of      Covered Home Loan
                               2002, N.J. Rev. Stat. ss.ss. 46:10B-22
                               et seq.

                               Effective November 27, 2003 - July 5, 2004
-----------------------------------------------------------------------------------------------------------
</TABLE>

                                                   O-4
<PAGE>

<TABLE>
<CAPTION>
Standard & Poor's Home Loan Categorization
------------------------------------------
<S>                            <C>                                            <C>
-----------------------------------------------------------------------------------------------------------
      State/Jurisdiction       Name of Anti-Predatory Lending Law/Effective   Category under Applicable
                                                   Date                       Anti-Predatory Lending Law
-----------------------------------------------------------------------------------------------------------

Georgia (Oct. 1, 2002 - Mar.   Georgia Fair Lending Act, Ga. Code Ann. ss.ss. Home Loan
6, 2003)                       7-6A-1 et seq.

                               Effective October 1, 2002 - March 6, 2003
-----------------------------------------------------------------------------------------------------------

New Jersey                     New Jersey Home Ownership Security Act of      Home Loan
                               2002, N.J. Rev. Stat. ss.ss. 46:10B-22 et seq.

                               Effective for loans closed on or after
                               November 27, 2003
-----------------------------------------------------------------------------------------------------------

New Mexico                     Home Loan Protection Act, N.M. Rev. Stat.      Home Loan
                               ss.ss. 58-21A-1 et seq.

                               Effective as of January 1, 2004; Revised as
                               of February 26, 2004
-----------------------------------------------------------------------------------------------------------

North Carolina                 Restrictions and Limitations on High Cost      Consumer Home Loan
                               Home Loans, N.C. Gen. Stat. ss.ss. 24-1.1E
                               et seq.

                               Effective July 1, 2000; amended October 1,
                               2003 (adding open-end lines of credit)
-----------------------------------------------------------------------------------------------------------

South Carolina                 South Carolina High Cost and Consumer Home     Consumer Home Loan
                               Loans Act, S.C. Code Ann. ss.ss. 37-23-10
                               et seq.

                               Effective for loans taken on or after
                               January 1, 2004
-----------------------------------------------------------------------------------------------------------
</TABLE>

                                                   O-5
<PAGE>

                                    EXHIBIT P

                    [FORM OF] SUPPLEMENTAL TRANSFER AGREEMENT

            THIS SUPPLEMENTAL TRANSFER AGREEMENT, dated as of ____________, 200_
(this "Supplemental Transfer Agreement"), among CWALT, INC., a Delaware
corporation, as depositor (the "Depositor"), COUNTRYWIDE HOME LOANS, INC.
("CHL"), a New York corporation, as a seller (a "Seller"), PARK GRANADA LLC
("Park Granada"), a Delaware limited liability company, as a seller (a
"Seller"), PARK MONACO INC. ("Park Monaco"), a Delaware limited liability
corporation, as a seller (a "Seller"), PARK SIENNA LLC ("Park Sienna"), a
Delaware limited liability company, as a seller (a "Seller" and together with
CHL, Park Granada and Park Monaco, the "Sellers") under the Pooling and
Servicing Agreement referred to below, and THE BANK OF NEW YORK, a New York
banking corporation, as trustee (the "Trustee");

            WHEREAS, the Depositor, the Sellers, the Trustee and Countrywide
Home Loans Servicing LP, as Master Servicer, have entered in the Pooling and
Servicing Agreement, dated as of [month] 1, 200[o] (the "Pooling and Servicing
Agreement"), in relation to the CHL Mortgage Pass-Through Trust 200_-_, Mortgage
Pass-Through Certificates, Series 200_-_;

            WHEREAS, Section 2.01(e) of the Pooling and Servicing Agreement
provides for the parties hereto to enter into this Supplemental Transfer
Agreement in accordance with the terms and conditions of the Pooling and
Servicing Agreement;

            NOW, THEREFORE, in consideration of the premises and for other good
and valuable consideration the receipt and adequacy of which are hereby
acknowledged the parties hereto agree as follows:

      (a) The "Supplemental Transfer Date" with respect to this Supplemental
Transfer Agreement shall be ________, 200_.

      (b) The "Aggregate Supplemental Purchase Amount" with respect to this
Supplemental Transfer Agreement shall be $________; provided, however, that such
amount shall not exceed the amount on deposit in the Supplemental Loan Account.

      (c) The "Capitalized Interest Requirement" with respect to this
Supplemental Transfer Agreement shall be $________; provided, however, that such
amount shall not exceed the amount on deposit in the Capitalized Interest
Account.

      (d) [Reserved]

      (e) In case any provision of this Supplemental Transfer Agreement shall be
invalid, illegal or unenforceable, the validity, legality and enforceability of
the remaining provisions or obligations shall not in any way be affected or
impaired thereby.

                                       P-1
<PAGE>

      (f) In the event of any conflict between the provisions of this
Supplemental Transfer Agreement and the Pooling and Servicing Agreement, the
provisions of the Pooling and Servicing Agreement shall prevail.

      (g) This Supplemental Transfer Agreement shall be governed by, and shall
be construed and enforced in accordance with the laws of the State of New York.

      (h) The Supplemental Transfer Agreement may be executed in one or more
counterparts, each of which so executed and delivered shall be deemed an
original, but all such counterparts together shall constitute but one and the
same instrument.

                                       P-2
<PAGE>

            IN WITNESS WHEREOF, the parties to this Supplemental Transfer
Agreement have caused their names to be signed hereto by their respective
officers thereunto duly authorized as of the day and year first above written.

                                    CWALT, INC.,
                                      as Depositor

                                    By:
                                       ---------------------------------------
                                       Name:
                                       Title:

                                    COUNTRYWIDE HOME LOANS, INC.,
                                      as Seller

                                    By:
                                       ---------------------------------------
                                       Name:
                                       Title:

                                    PARK GRANADA LLC,
                                      as a Seller

                                    By:
                                       ---------------------------------------
                                       Name:
                                       Title:

                                    PARK MONACO, INC.,
                                      as a Seller

                                    By:
                                       ---------------------------------------
                                       Name:
                                       Title:

                                       P-3
<PAGE>

                                    PARK SIENNA LLC,
                                      as a Seller

                                    By:
                                       ---------------------------------------
                                       Name:
                                       Title:

                                    THE BANK OF NEW YORK,
                                      not in its individual capacity,
                                      but solely as Trustee

                                    By:
                                       ---------------------------------------
                                       Name:
                                       Title:

Acknowledged and Agreed:

COUNTRYWIDE HOME LOANS SERVICING LP,
  as Master Servicer

By:  COUNTRYWIDE GP, INC.

By:  _____________________________
     Name:
     Title:

                                       P-4
<PAGE>

                                    EXHIBIT Q

                                 MONTHLY REPORT

                            [On file with Trustee]

                                       Q-1
<PAGE>

                                   EXHIBIT R-1

                        FORM OF PERFORMANCE CERTIFICATION
                                  (Subservicer)

Re:   The Pooling and Servicing Agreement dated as of [________] (the "Pooling
      and Servicing Agreement") among CWALT, Inc., as Depositor, Countrywide
      Home Loans, Inc., as a Seller, Park Monaco Inc., as a Seller, Park Sienna
      LLC, as a Seller, Countrywide Home Loans Servicing LP, as Master Servicer,
      the undersigned, as Trustee and [Subservicing Agreement] dated as of [ ]
      (the "Agreement")

      I, ________________________________, the _______________________ of [NAME
OF COMPANY] (the "Company"), certify to the Depositor and the Master Servicer,
and their officers, with the knowledge and intent that they will rely upon this
certification, that:

            (1) I have reviewed the servicer compliance statement of the Company
      provided in accordance with Item 1123 of Regulation AB (the "Compliance
      Statement"), the report on assessment of the Company's compliance with the
      servicing criteria set forth in Item 1122(d) of Regulation AB (the
      "Servicing Criteria"), provided in accordance with Rules 13a-18 and 15d-18
      under Securities Exchange Act of 1934, as amended (the "Exchange Act") and
      Item 1122 of Regulation AB (the "Servicing Assessment"), the registered
      public accounting firm's attestation report provided in accordance with
      Rules 13a-18 and 15d-18 under the Exchange Act and Section 1122(b) of
      Regulation AB (the "Attestation Report"), all servicing reports, officer's
      certificates and other information relating to the servicing of the
      Mortgage Loans by the Company during 200[ ] that were delivered by the
      Company to the Depositor, the Master Servicer or the Trustee pursuant to
      the Agreement (collectively, the "Company Servicing Information");

            (2) Based on my knowledge, the Company Servicing Information, taken
      as a whole, does not contain any untrue statement of a material fact or
      omit to state a material fact necessary to make the statements made, in
      the light of the circumstances under which such statements were made, not
      misleading with respect to the period of time covered by the Company
      Servicing Information;

            (3) Based on my knowledge, all of the Company Servicing Information
      required to be provided by the Company under the Agreement has been
      provided to the Depositor, the Master Servicer or the Trustee, as
      applicable;

            (4) I am responsible for reviewing the activities performed by the
      Company as a servicer under the Agreement, and based on my knowledge and
      the compliance review conducted in preparing the Compliance Statement and
      except as disclosed in the Compliance Statement, the Servicing Assessment
      or the Attestation Report, the Company has fulfilled its obligations under
      the Agreement in all material respects; and

                                      R-1-1
<PAGE>

            (5) The Compliance Statement required to be delivered by the Company
      pursuant to the Agreement, and the Servicing Assessment and Attestation
      Report required to be provided by the Company and by any Subservicer or
      Subcontractor pursuant to the Agreement, have been provided to the Master
      Servicer. Any material instances of noncompliance described in such
      reports have been disclosed to the Master Servicer. Any material instance
      of noncompliance with the Servicing Criteria has been disclosed in such
      reports.

                                    Date: _________________________

                                     By: ________________________________
                                     Name:
                                     Title:

                                      R-1-2
<PAGE>

                                   EXHIBIT R-2

                        FORM OF PERFORMANCE CERTIFICATION
                                    (Trustee)

      Re:   The Pooling and Servicing Agreement dated as of [________], (the
            "Pooling and Servicing Agreement") among CWALT, Inc., as Depositor,
            Countrywide Home Loans, Inc., as a Seller, Park Monaco Inc., as a
            Seller, Park Sienna LLC, as a Seller, Countrywide Home Loans
            Servicing LP, as Master Servicer, the undersigned, as Trustee

      I, ________________________________, the _______________________ of [NAME
OF COMPANY] (the "Company"), certify to the Depositor and the Master Servicer,
and their officers, with the knowledge and intent that they will rely upon this
certification, that:

            (1) I have reviewed the report on assessment of the Company's
      compliance with the servicing criteria set forth in Item 1122(d) of
      Regulation AB (the "Servicing Criteria"), provided in accordance with
      Rules 13a-18 and 15d-18 under Securities Exchange Act of 1934, as amended
      (the "Exchange Act") and Item 1122 of Regulation AB (the "Servicing
      Assessment"), the registered public accounting firm's attestation report
      provided in accordance with Rules 13a-18 and 15d-18 under the Exchange Act
      and Section 1122(b) of Regulation AB (the "Attestation Report"), [all
      reports on Form 10-D containing statements to certificateholders filed in
      respect of the period included in the year covered by the annual report of
      the Trust Fund] (collectively, the "Distribution Date Statements");

            (2) Assuming the accuracy and completeness of the information
      delivered to the Company by the Master Servicer as provided in the Pooling
      and Servicing Agreement and subject to paragraph (4) below, the
      distribution information determined by the Company and set forth in the
      Distribution Date Statements contained in all Form 10-D's included in the
      year covered by the annual report of such Trust on Form 10-K for the
      calendar year 200[ ], is complete and does not contain any material
      misstatement of fact as of the last day of the period covered by such
      annual report;

            (3) Based solely on the information delivered to the Company by the
      Master Servicer as provided in the Pooling and Servicing Agreement, (i)
      the distribution information required under the Pooling and Servicing
      Agreement to be contained in the Trust Fund's Distribution Date Statements
      and (ii) the servicing information required to be provided by the Master
      Servicer to the trustee for inclusion in the Trust Fund's Distribution
      Date Statements, to the extent received by the Trustee from the Master
      Servicer in accordance with the Pooling and Servicing Agreement, is
      included in such Distribution Date Statements;

            (4) The Company is not certifying as to the accuracy, completeness
      or correctness of the information which it received from the Master
      Servicer and did not

                                      R-2-1
<PAGE>

      independently verify or confirm the accuracy, completeness or correctness
      of the information provided by the Master Servicer;

            (5) I am responsible for reviewing the activities performed by the
      Company as a person "performing a servicing function" under the Pooling
      and Servicing Agreement, and based on my knowledge and the compliance
      review conducted in preparing the Servicing Assessment and except as
      disclosed in the Servicing Assessment or the Attestation Report, the
      Company has fulfilled its obligations under the Pooling and Servicing
      Agreement; and

            (6) The Servicing Assessment and Attestation Report required to be
      provided by the Company and by Subcontractor pursuant to the Pooling and
      Servicing Agreement, have been provided to the Master Servicer and the
      Depositor. Any material instances of noncompliance described in such
      reports have been disclosed to the Master Servicer and the Depositor. Any
      material instance of noncompliance with the Servicing Criteria has been
      disclosed in such reports.

                                    Date: _________________________

                                    By:  ________________________________
                                    Name:
                                    Title:

                                      R-2-2
<PAGE>

                                    EXHIBIT S

                                    [FORM OF]
                      SERVICING CRITERIA TO BE ADDRESSED IN
                       ASSESSMENT OF COMPLIANCE STATEMENT

            The assessment of compliance to be delivered by [the Master
Servicer] [Trustee] [Name of Subservicer] shall address, at a minimum, the
criteria identified as below as "Applicable Servicing Criteria":

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------
                               Servicing Criteria                                      Applicable
                                                                                   Servicing Criteria
-------------------------------------------------------------------------------------------------------
    Reference                                Criteria
-------------------------------------------------------------------------------------------------------
<S>               <C>                                                             <C>
                                 General Servicing Considerations
------------------                                                                ---------------------
                  Policies and procedures are instituted to monitor any
                  performance or other triggers and events of default in
1122(d)(1)(i)     accordance with the transaction agreements.
------------------                                                                ---------------------
                  If any material servicing activities are outsourced to third
                  parties, policies and procedures are instituted to monitor the
                  third party's performance and compliance with such servicing
1122(d)(1)(ii)    activities.
------------------                                                                ---------------------
                  Any requirements in the transaction agreements to maintain a
1122(d)(1)(iii)   back-up servicer for the mortgage loans are maintained.
------------------                                                                ---------------------
                  A fidelity bond and errors and omissions policy is in effect
                  on the party participating in the servicing function
                  throughout the reporting period in the amount of coverage
                  required by and otherwise in accordance with the terms of the
1122(d)(1)(iv)    transaction agreements.
------------------                                                                ---------------------
                                Cash Collection and Administration
------------------                                                                ---------------------
                  Payments on mortgage loans are deposited into the appropriate
                  custodial bank accounts and related bank clearing accounts no
                  more than two business days following receipt, or such other
1122(d)(2)(i)     number of days specified in the transaction agreements.
------------------                                                                ---------------------
                  Disbursements made via wire transfer on behalf of an obligor
1122(d)(2)(ii)    or to an investor are made only by authorized personnel.
------------------                                                                ---------------------
                  Advances of funds or guarantees regarding collections, cash
                  flows or distributions, and any interest or other fees charged
                  for such advances, are made, reviewed and approved as
1122(d)(2)(iii)   specified in the transaction agreements.
------------------                                                                ---------------------
                  The related accounts for the transaction, such as cash reserve
                  accounts or accounts established as a form of
                  overcollateralization, are separately maintained (e.g., with
                  respect to commingling of cash) as set forth in the
1122(d)(2)(iv)    transaction agreements.
------------------                                                                ---------------------
                  Each custodial account is maintained at a federally insured
                  depository institution as set forth in the transaction
                  agreements. For purposes of this criterion, "federally insured
                  depository institution" with respect to a foreign financial
                  institution means a foreign financial institution that meets
                  the requirements of Rule 13k-1(b)(1) of the Securities
1122(d)(2)(v)     Exchange Act.
------------------                                                                ---------------------
                  Unissued checks are safeguarded so as to prevent unauthorized
1122(d)(2)(vi)    access.
------------------                                                                ---------------------
</TABLE>

                                                   S-1
<PAGE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------
                               Servicing Criteria                                      Applicable
                                                                                   Servicing Criteria
-------------------------------------------------------------------------------------------------------
    Reference                                Criteria
-------------------------------------------------------------------------------------------------------
<S>               <C>                                                             <C>
                  Reconciliations are prepared on a monthly basis for all
                  asset-backed securities related bank accounts, including
                  custodial accounts and related bank clearing accounts. These
                  reconciliations are (A) mathematically accurate; (B) prepared
                  within 30 calendar days after the bank statement cutoff date,
                  or such other number of days specified in the transaction
                  agreements; (C) reviewed and approved by someone other than
                  the person who prepared the reconciliation; and (D) contain
                  explanations for reconciling items. These reconciling items
                  are resolved within 90 calendar days of their original
                  identification, or such other number of days specified in the
1122(d)(2)(vii)   transaction agreements.
------------------                                                                ---------------------
                                Investor Remittances and Reporting
------------------                                                                ---------------------
                  Reports to investors, including those to be filed with the
                  Commission, are maintained in accordance with the transaction
                  agreements and applicable Commission requirements.
                  Specifically, such reports (A) are prepared in accordance with
                  timeframes and other terms set forth in the transaction
                  agreements; (B) provide information calculated in accordance
                  with the terms specified in the transaction agreements; (C)
                  are filed with the Commission as required by its rules and
                  regulations; and (D) agree with investors' or the trustee's
                  records as to the total unpaid principal balance and number of
1122(d)(3)(i)     mortgage loans serviced by the Servicer.
------------------                                                                ---------------------
                  Amounts due to investors are allocated and remitted in
                  accordance with timeframes, distribution priority and other
1122(d)(3)(ii)    terms set forth in the transaction agreements.
------------------                                                                ---------------------
                  Disbursements made to an investor are posted within two
                  business days to the Servicer's investor records, or such
1122(d)(3)(iii)   other number of days specified in the transaction agreements.
------------------                                                                ---------------------
                  Amounts remitted to investors per the investor reports agree
                  with cancelled checks, or other form of payment, or custodial
1122(d)(3)(iv)    bank statements.
------------------                                                                ---------------------
                                     Pool Asset Administration
------------------                                                                ---------------------
                   Collateral or security on mortgage loans is maintained as
                  required by the transaction agreements or related mortgage
1122(d)(4)(i)     loan documents.
------------------                                                                ---------------------
                  Mortgage loan and related documents are safeguarded as
1122(d)(4)(ii)    required by the transaction agreements.
------------------                                                                ---------------------
                  Any additions, removals or substitutions to the asset pool are
                  made, reviewed and approved in accordance with any conditions
1122(d)(4)(iii)   or requirements in the transaction agreements.
------------------                                                                ---------------------
                  Payments on mortgage loans, including any payoffs, made in
                  accordance with the related mortgage loan documents are posted
                  to the Servicer's obligor records maintained no more than two
                  business days after receipt, or such other number of days
                  specified in the transaction agreements, and allocated to
                  principal, interest or other items (e.g., escrow) in
1122(d)(4)(iv)    accordance with the related mortgage loan documents.
------------------                                                                ---------------------
                  The Servicer's records regarding the mortgage loans agree with
                  the Servicer's records with respect to an obligor's unpaid
1122(d)(4)(v)     principal balance.
------------------                                                                ---------------------
                  Changes with respect to the terms or status of an obligor's
                  mortgage loans (e.g., loan modifications or re-agings) are
                  made, reviewed and approved by authorized personnel in
                  accordance with the transaction agreements and related pool
1122(d)(4)(vi)    asset documents.
------------------                                                                ---------------------
                  Loss mitigation or recovery actions (e.g., forbearance plans,
                  modifications and deeds in lieu of foreclosure, foreclosures
                  and repossessions, as applicable) are initiated, conducted and
                  concluded in accordance with the timeframes or other
1122(d)(4)(vii)   requirements established by the transaction agreements.
------------------                                                                ---------------------
</TABLE>

                                                   S-2
<PAGE>

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------
                               Servicing Criteria                                      Applicable
                                                                                   Servicing Criteria
-------------------------------------------------------------------------------------------------------
    Reference                                Criteria
-------------------------------------------------------------------------------------------------------
<S>               <C>                                                             <C>
                  Records documenting collection efforts are maintained during
                  the period a mortgage loan is delinquent in accordance with
                  the transaction agreements. Such records are maintained on at
                  least a monthly basis, or such other period specified in the
                  transaction agreements, and describe the entity's activities
                  in monitoring delinquent mortgage loans including, for
                  example, phone calls, letters and payment rescheduling plans
                  in cases where delinquency is deemed temporary (e.g., illness
1122(d)(4)(viii)  or unemployment).
------------------                                                                ---------------------
                  Adjustments to interest rates or rates of return for mortgage
                  loans with variable rates are computed based on the related
1122(d)(4)(ix)    mortgage loan documents.
------------------                                                                ---------------------
                  Regarding any funds held in trust for an obligor (such as
                  escrow accounts): (A) such funds are analyzed, in accordance
                  with the obligor's mortgage loan documents, on at least an
                  annual basis, or such other period specified in the
                  transaction agreements; (B) interest on such funds is paid, or
                  credited, to obligors in accordance with applicable mortgage
                  loan documents and state laws; and (C) such funds are returned
                  to the obligor within 30 calendar days of full repayment of
                  the related mortgage loans, or such other number of days
1122(d)(4)(x)     specified in the transaction agreements.
------------------                                                                ---------------------
                  Payments made on behalf of an obligor (such as tax or
                  insurance payments) are made on or before the related penalty
                  or expiration dates, as indicated on the appropriate bills or
                  notices for such payments, provided that such support has been
                  received by the servicer at least 30 calendar days prior to
                  these dates, or such other number of days specified in the
1122(d)(4)(xi)    transaction agreements.
------------------                                                                ---------------------
                  Any late payment penalties in connection with any payment to
                  be made on behalf of an obligor are paid from the servicer's
                  funds and not charged to the obligor, unless the late payment
1122(d)940(xii)   was due to the obligor's error or omission.
------------------                                                                ---------------------
                  Disbursements made on behalf of an obligor are posted within
                  two business days to the obligor's records maintained by the
                  servicer, or such other number of days specified in the
1122(d)(4)(xiii)  transaction agreements.
------------------                                                                ---------------------
                  Delinquencies, charge-offs and uncollectible accounts are
                  recognized and recorded in accordance with the transaction
1122(d)(4)(xiv)   agreements.
------------------                                                                ---------------------
                  Any external enhancement or other support, identified in Item
                  1114(a)(1) through (3) or Item 1115 of Regulation AB, is
1122(d)(4)(xv)    maintained as set forth in the transaction agreements.
-------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------
</TABLE>

                                    [NAME OF MASTER SERVICER] [NAME OF
                                    TRUSTEE] [NAME OF SUBSERVICER]

                                    Date: _________________________

                                    By:  ________________________________
                                    Name:
                                    Title:

                                                   S-3
<PAGE>

                                    EXHIBIT T

                       [FORM OF] LIST OF ITEM 1119 PARTIES

                         ALTERNATIVE LOAN TRUST 200_-__

                       MORTGAGE PASS-THROUGH CERTIFICATES,
                                 Series 200_-__

                                     [Date]

-------------------------------------------------------------------------------
Party                  Contact Information
-------------------------------------------------------------------------------

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

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

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

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

                                       T-1
<PAGE>

                                    EXHIBIT U

                      FORM OF SARBANES-OXLEY CERTIFICATION
                        (REPLACEMENT OF MASTER SERVICER)

      Re:   Alternative Loan Trust 200[ ]-OA[ ], Mortgage Pass-Through
            Certificates, Series 200[ ]-OA[ ]

      The undersigned Servicer hereby certifies to the Depositor and its
officers, directors and Affiliates (collectively, the "Certification Parties")
as follows, with the knowledge and intent that the Certification Parties will
rely on this Certification in connection with the certification concerning the
Trust Fund to be signed by an officer of the Depositor and submitted to the
Securities and Exchange Commission pursuant to the Sarbanes-Oxley Act of 2002:

      1. I have reviewed the servicer compliance statement of the Master
Servicer provided in accordance with Item 1123 of Regulation AB (the "Compliance
Statement"), the report on assessment of the Servicer's compliance with the
servicing criteria set forth in Item 1122(d) of Regulation AB (the "Servicing
Criteria"), provided in accordance with Rules 13a-18 and 15d-18 under Securities
Exchange Act of 1934, as amended (the "Exchange Act") and Item 1122 of
Regulation AB (the "Servicing Assessment"), the registered public accounting
firm's attestation report provided in accordance with Rules 13a-18 and 15d-18
under the Exchange Act and Section 1122(b) of Regulation AB (the "Attestation
Report"), and all servicing reports, officer's certificates and other
information relating to the servicing of the Mortgage Loans by the Master
Servicer during 200[ ] that were delivered by the Master Servicer to the Trustee
pursuant to the Agreement (collectively, the "Servicing Information");

      2. Based on my knowledge, the Servicing Information, taken as a whole,
does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in the light of the
circumstances under which such statements were made, not misleading with respect
to the period of time covered by the Servicing Information;

      3. Based on my knowledge, all of the Servicing Information required to be
provided by the Master Servicer under the Agreement has been provided to the
Depositor or the Trustee, as applicable;

      4. I am responsible for reviewing the activities performed by the Master
Servicer as servicer under the Servicing Agreement (the "Pooling and Servicing
Agreement") relating to the above-referenced Series, among Countrywide Home
Loans, Inc., as a seller, Park Granada LLC, as a seller, Park Sienna LLC, as a
seller, Park Monaco Inc., as a seller, [ ], as master servicer, CWALT, Inc., as
depositor, and The Bank of New York, as trustee, and based on my knowledge and
the compliance review conducted in preparing the Compliance Statement and except
as disclosed in the Compliance Statement, the Pooling and Servicing Assessment
or the

                                       U-1
<PAGE>

Attestation Report, the Master Servicer has fulfilled its obligations under the
Agreement in all material respects; and

      5. The Compliance Statement required to be delivered by the Master
Servicer pursuant to the Pooling and Agreement, and the Servicing Assessment and
Attestation Report required to be provided by the Master Servicer and by any
Subservicer or Reporting Subcontractor pursuant to the Agreement, have been
provided to the Depositor. Any material instances of noncompliance described in
such reports have been disclosed to the Depositor. Any material instance of
noncompliance with the Servicing Criteria has been disclosed in such reports.

                                    [MASTER SERVICER]

                                    By:________________________________
                                       Name:
                                       Title:
                                    Date: _________________________

                                      U-2EXHIBIT 4.1

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

                    WELLS FARGO ASSET SECURITIES CORPORATION

                                   (Depositor)

                                       and

                             WELLS FARGO BANK, N.A.

                                (Master Servicer)

                                       and

                       HSBC BANK USA, NATIONAL ASSOCIATION

                                    (Trustee)

                         POOLING AND SERVICING AGREEMENT

                            Dated as of May 30, 2007

                                $5,100,122,415.95

                       Mortgage Pass-Through Certificates
                                  Series 2007-7

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

<PAGE>

                                TABLE OF CONTENTS

                                                                            Page

                                    ARTICLE I

                                   DEFINITIONS

Section 1.01  Definitions...................................................
Section 1.02  Acts of Holders...............................................
Section 1.03  Effect of Headings and Table of Contents......................
Section 1.04  Benefits of Agreement.........................................

                                   ARTICLE II

                          CONVEYANCE OF MORTGAGE LOANS;
                      ORIGINAL ISSUANCE OF THE CERTIFICATES

Section 2.01  Conveyance of Mortgage Loans..................................
Section 2.02  Acceptance by Custodian.......................................
Section 2.03  Representations and Warranties of the Master Servicer and
               the Depositor................................................
Section 2.04  Execution and Delivery of Certificates........................
Section 2.05  Designation of Certificates; Designation of Startup Day and
               Lates Possible Maturity Date.................................

                                   ARTICLE III

                  ADMINISTRATION OF THE TRUST ESTATE; SERVICING
                              OF THE MORTGAGE LOANS

Section 3.01  Certificate Account...........................................
Section 3.02  Permitted Withdrawals from the Certificate Account............
Section 3.03  Advances by Master Servicer and Trustee.......................
Section 3.04  Custodian to Cooperate; Release of Owner Mortgage Loan Files
               and Retained Mortgage Loan Files.............................
Section 3.05  Annual Compliance Statements..................................
Section 3.06  Title, Management and Disposition of Any REO Mortgage Loan....
Section 3.07  Amendments to Servicing Agreements, Modification of
               Standard Provisions..........................................
Section 3.08  Oversight of Servicing........................................
Section 3.09  Termination and Substitution of Servicing Agreements..........
Section 3.10  Application of Net Liquidation Proceeds.......................
Section 3.11  Assessment of Servicing Compliance; Registered Public
               Accounting Firm Attestation Reports..........................
Section 3.12  Exchange Act Reports..........................................

                                   ARTICLE IV

                    DISTRIBUTIONS IN RESPECT OF CERTIFICATES;
                         PAYMENTS TO CERTIFICATEHOLDERS;
                             STATEMENTS AND REPORTS

Section 4.01  Distributions.................................................
Section 4.02  Allocation of Realized Losses.................................
Section 4.03  Paying Agent..................................................
Section 4.04  Statements to Certificateholders; Reports to the Trustee
               and the Depositor............................................
Section 4.05  Grantor Trust Administration..................................
Section 4.06  Calculation of Amounts; Binding Effect of Interpretations
               and Actions of Master Servicer...............................
Section 4.07  Determination of LIBOR........................................
Section 4.08  Distributions on Exchangeable Certificates....................

                                    ARTICLE V

                                THE CERTIFICATES

Section 5.01  The Certificates..............................................
Section 5.02  Registration of Certificates..................................
Section 5.03  Transfer of Exchangeable REMIC Certificates and Exchangeable
               Certificates.................................................
Section 5.04  Exchanges of Exchangeable REMIC Certificates and Exchangeable
               Certificates.................................................
Section 5.05  Mutilated, Destroyed, Lost or Stolen Certificates.............
Section 5.06  Persons Deemed Owners.........................................
Section 5.07  Access to List of Certificateholders' Names and Addresses.....
Section 5.08  Maintenance of Office or Agency...............................
Section 5.09  Definitive Certificates.......................................
Section 5.10  Notices to Clearing Agency....................................

                                   ARTICLE VI

                      THE DEPOSITOR AND THE MASTER SERVICER

Section 6.01  Liability of the Depositor and the Master Servicer............
Section 6.02  Merger or Consolidation of the Depositor or the Master
               Servicer.....................................................
Section 6.03  Limitation on Liability of the Depositor, the Master
               Servicer and Others..........................................
Section 6.04  Resignation of the Master Servicer............................
Section 6.05  Compensation to the Master Servicer...........................
Section 6.06  Assignment or Delegation of Duties by Master Servicer.........
Section 6.07  Indemnification of Trustee and Depositor by Master Servicer...
Section 6.08  Master Servicer Errors and Omissions Policy...................

                                   ARTICLE VII

                                     DEFAULT

Section 7.01  Events of Default.............................................
Section 7.02  Other Remedies of Trustee.....................................
Section 7.03  Directions by Certificateholders and Duties of Trustee During
               Event of Default.............................................
Section 7.04  Action upon Certain Failures of the Master Servicer and
               upon Event of Default........................................
Section 7.05  Trustee to Act; Appointment of Successor......................
Section 7.06  Notification to Certificateholders............................

                                  ARTICLE VIII

                             CONCERNING THE TRUSTEE

Section 8.01  Duties of Trustee.............................................
Section 8.02  Certain Matters Affecting the Trustee.........................
Section 8.03  Trustee Not Required to Make Investigation....................
Section 8.04  Trustee Not Liable for Certificates or Mortgage Loans.........
Section 8.05  Trustee May Own Certificates..................................
Section 8.06  The Master Servicer to Pay Fees and Expenses;
               Limitation on Liability......................................
Section 8.07  Eligibility Requirements......................................
Section 8.08  Resignation and Removal.......................................
Section 8.09  Successor.....................................................
Section 8.10  Merger or Consolidation.......................................
Section 8.11  Authenticating Agent..........................................
Section 8.12  Separate Trustees and Co-Trustees.............................
Section 8.13  Tax Matters; Compliance with REMIC Provisions.................
Section 8.14  Monthly Advances..............................................
Section 8.15  Indemnification of the Master Servicer and Depositor
               by the Trustee...............................................
Section 8.16  Trustee Errors and Omissions Policy...........................

                                   ARTICLE IX

                                   TERMINATION

Section 9.01  Termination upon Purchase by the Depositor or
               Liquidation of All Mortgage Loans............................
Section 9.02  Additional Termination Requirements...........................

                                    ARTICLE X

                            MISCELLANEOUS PROVISIONS

Section 10.01 Amendment.....................................................
Section 10.02 Recordation of Agreement......................................
Section 10.03 Limitation on Rights of Certificateholders....................
Section 10.04 Governing Law; Jurisdiction...................................
Section 10.05 Notices.......................................................
Section 10.06 Severability of Provisions....................................
Section 10.07 Special Notices to Rating Agencies............................
Section 10.08 Covenant of Depositor.........................................
Section 10.09 Recharacterization............................................
Section 10.10 Regulation AB Compliance; Intent of Parties; Reasonableness...

                                   ARTICLE XI

                             TERMS FOR CERTIFICATES

Section 11.01 Cut-Off Date..................................................
Section 11.02 Cut-Off Date Aggregate Principal Balance......................
Section 11.03 Original Class A Percentage...................................
Section 11.04 Original Notional Amount......................................
Section 11.05 Original Principal Balances of the Classes of Class A
               Certificates.................................................
Section 11.06 Original Aggregate Non-PO Principal Balance...................
Section 11.07 Original Class B Principal Balance............................
Section 11.08 Original Principal Balances of the Classes of
               Class B Certificates.........................................
Section 11.09 Original Class B-1 Fractional Interest........................
Section 11.10 Original Class B-2 Fractional Interest........................
Section 11.11 Original Class B-3 Fractional Interest........................
Section 11.12 Original Class B-4 Fractional Interest........................
Section 11.13 Original Class B-5 Fractional Interest........................
Section 11.14 Original Class B-1 Percentage.................................
Section 11.15 Original Class B-2 Percentage.................................
Section 11.16 Original Class B-3 Percentage.................................
Section 11.17 Original Class B-4 Percentage.................................
Section 11.18 Original Class B-5 Percentage.................................
Section 11.19 Original Class B-6 Percentage.................................
Section 11.20 Closing Date..................................................
Section 11.21 Right to Purchase.............................................
Section 11.22 Single Certificate............................................
Section 11.23 Servicing Fee Rate............................................
Section 11.24 Master Servicing Fee Rate.....................................

SCHEDULE I - Applicable Unscheduled Principal Receipt Period

SCHEDULE II - Schedule of PAC Group

<PAGE>

                                    EXHIBITS

EXHIBIT A-1             -     Form of Face of Class A-1 Certificate
EXHIBIT A-2             -     Form of Face of Class A-2 Certificate
EXHIBIT A-3             -     Form of Face of Class A-3 Certificate
EXHIBIT A-4             -     Form of Face of Class A-4 Certificate
EXHIBIT A-5             -     Form of Face of Class A-5 Certificate
EXHIBIT A-6             -     Form of Face of Class A-6 Certificate
EXHIBIT A-7             -     Form of Face of Class A-7 Certificate
EXHIBIT A-8             -     Form of Face of Class A-8 Certificate
EXHIBIT A-9             -     Form of Face of Class A-9 Certificate
EXHIBIT A-10            -     Form of Face of Class A-10 Certificate
EXHIBIT A-11            -     Form of Face of Class A-11 Certificate
EXHIBIT A-12            -     Form of Face of Class A-12 Certificate
EXHIBIT A-13            -     Form of Face of Class A-13 Certificate
EXHIBIT A-14            -     Form of Face of Class A-14 Certificate
EXHIBIT A-15            -     Form of Face of Class A-15 Certificate
EXHIBIT A-16            -     Form of Face of Class A-16 Certificate
EXHIBIT A-17            -     Form of Face of Class A-17 Certificate
EXHIBIT A-18            -     Form of Face of Class A-18 Certificate
EXHIBIT A-19            -     Form of Face of Class A-19 Certificate
EXHIBIT A-20            -     Form of Face of Class A-20 Certificate
EXHIBIT A-21            -     Form of Face of Class A-21 Certificate
EXHIBIT A-22            -     Form of Face of Class A-22 Certificate
EXHIBIT A-23            -     Form of Face of Class A-23 Certificate
EXHIBIT A-24            -     Form of Face of Class A-24 Certificate
EXHIBIT A-25            -     Form of Face of Class A-25 Certificate
EXHIBIT A-26            -     Form of Face of Class A-26 Certificate
EXHIBIT A-27            -     Form of Face of Class A-27 Certificate
EXHIBIT A-28            -     Form of Face of Class A-28 Certificate
EXHIBIT A-29            -     Form of Face of Class A-29 Certificate
EXHIBIT A-30            -     Form of Face of Class A-30 Certificate
EXHIBIT A-31            -     Form of Face of Class A-31 Certificate
EXHIBIT A-32            -     Form of Face of Class A-32 Certificate
EXHIBIT A-33            -     Form of Face of Class A-33 Certificate
EXHIBIT A-34            -     Form of Face of Class A-34 Certificate
EXHIBIT A-35            -     Form of Face of Class A-35 Certificate
EXHIBIT A-36            -     Form of Face of Class A-36 Certificate
EXHIBIT A-37            -     Form of Face of Class A-37 Certificate
EXHIBIT A-38            -     Form of Face of Class A-38 Certificate
EXHIBIT A-39            -     Form of Face of Class A-39 Certificate
EXHIBIT A-40            -     Form of Face of Class A-40 Certificate
EXHIBIT A-41            -     Form of Face of Class A-41 Certificate
EXHIBIT A-42            -     Form of Face of Class A-42 Certificate
EXHIBIT A-43            -     Form of Face of Class A-43 Certificate
EXHIBIT A-44            -     Form of Face of Class A-44 Certificate
EXHIBIT A-45            -     Form of Face of Class A-45 Certificate
EXHIBIT A-46            -     Form of Face of Class A-46 Certificate
EXHIBIT A-47            -     Form of Face of Class A-47 Certificate
EXHIBIT A-48            -     Form of Face of Class A-48 Certificate
EXHIBIT A-49            -     Form of Face of Class A-49 Certificate
EXHIBIT A-50            -     Form of Face of Class A-50 Certificate
EXHIBIT A-51            -     Form of Face of Class A-51 Certificate
EXHIBIT A-PO            -     Form of Face of Class A-PO Certificate
EXHIBIT A-R             -     Form of Face of Class A-R Certificate
EXHIBIT B-1             -     Form of Face of Class B-1 Certificate
EXHIBIT B-2             -     Form of Face of Class B-2 Certificate
EXHIBIT B-3             -     Form of Face of Class B-3 Certificate
EXHIBIT B-4             -     Form of Face of Class B-4 Certificate
EXHIBIT B-5             -     Form of Face of Class B-5 Certificate
EXHIBIT B-6             -     Form of Face of Class B-6 Certificate
EXHIBIT C               -     Form of Reverse of Series 2007-7 Certificates
EXHIBIT D               -     Reserved
EXHIBIT E               -     Custodial Agreement
EXHIBIT F               -     Addresses for Requesting Mortgage Loan Schedule
EXHIBIT G               -     Request for Release
EXHIBIT H               -     Affidavit Pursuant to Section 860E(e)(4) of the
                              Internal Revenue Code of 1986, as amended, and for
                              Non-ERISA Investors
EXHIBIT I               -     Letter from Transferor of Residual Certificate
EXHIBIT J               -     Transferee's Letter (Class [B-4] [B-5] [B-6]
                              Certificates)
EXHIBIT K               -     List of Recordation States
EXHIBIT L               -     Servicing Agreements
EXHIBIT M               -     Form of Special Servicing Agreement
EXHIBIT N               -     Form of Initial Certification of the Custodian
EXHIBIT O               -     Form of Final Certification of the Custodian
EXHIBIT P               -     Form of Sarbanes Oxley Certification
EXHIBIT Q               -     Schedule of Pledged Asset Mortgage Loans
EXHIBIT R               -     Servicing Criteria to be Addressed in Assessment
                              of Compliance
EXHIBIT S               -     Additional Form 10-D Disclosure
EXHIBIT T               -     Additional Form 10-K Disclosure
EXHIBIT U               -     Form 8-K Disclosure Information
EXHIBIT V               -     Additional Disclosure Notification
EXHIBIT W               -     Combination Group
EXHIBIT X               -     Form of Request for Exchange of Exchangeable REMIC
                              Certificates or Exchangeable Certificates

<PAGE>

            This Pooling and Servicing Agreement, dated as of May 30, 2007
executed by WELLS FARGO ASSET SECURITIES CORPORATION, as Depositor, WELLS FARGO
BANK, N.A., as Master Servicer and HSBC BANK USA, NATIONAL ASSOCIATION, as
Trustee.

                          W I T N E S S E T H  T H A T:

            In consideration of the mutual agreements herein contained, the
Depositor, the Master Servicer and the Trustee agree as follows:

                                   ARTICLE I

                                   DEFINITIONS

            Section 1.01 Definitions.

            Whenever used herein, the following words and phrases, unless the
context otherwise requires, shall have the meanings specified in this Article.

            1933 Act: The Securities Act of 1933, as amended.

            Accepted Master Servicing Practices: Accepted Master Servicing
Practices shall consist of the customary and usual master servicing practices of
prudent master servicing institutions which master service mortgage loans of the
same type as the Mortgage Loans in the jurisdictions in which the related
Mortgaged Properties are located, regardless of the date upon which the related
Mortgage Loans were originated.

            Additional Form 10-D Disclosure: As defined in Section 3.12(a).

            Additional Form 10-K Disclosure: As defined in Section 3.12(b).

            Additional Master Servicer: As defined in Section 6.06(b).

            Adjusted Pool Amount: With respect to any Distribution Date, the
Cut-Off Date Aggregate Principal Balance of the Mortgage Loans minus the sum of
(i) all amounts in respect of principal received in respect of the Mortgage
Loans (including, without limitation, amounts received as Monthly Payments,
Periodic Advances, Unscheduled Principal Receipts and Substitution Principal
Amounts) and distributed to Holders of the Certificates on such Distribution
Date and all prior Distribution Dates, (ii) the principal portion of all
Liquidated Loan Losses incurred on such Mortgage Loans for which the Liquidation
Proceeds were received from the Cut-Off Date through the end of the Applicable
Unscheduled Principal Receipt Period with respect to Full Unscheduled Principal
Receipts for such Distribution Date and (iii) the principal portion of all
Bankruptcy Losses (other than Debt Service Reductions) incurred on the Mortgage
Loans from the Cut-Off Date through the end of the period corresponding to the
Applicable Unscheduled Principal Receipt Period with respect to Full Unscheduled
Principal Receipts for such Distribution Date.

            Adjusted Pool Amount (Non-PO Portion): With respect to any
Distribution Date, the difference between the Adjusted Pool Amount and the
Adjusted Pool Amount (PO Portion).

            Adjusted Pool Amount (PO Portion): With respect to any Distribution
Date, the sum of the amounts, calculated as follows, with respect to all
Outstanding Mortgage Loans: the product of (i) the PO Fraction for each such
Mortgage Loan and (ii) the remainder of (A) the Cut-Off Date Principal Balance
of such Mortgage Loan minus (B) the sum of (x) all amounts in respect of
principal received in respect of such Mortgage Loan (including, without
limitation, amounts received as Monthly Payments, Periodic Advances, Unscheduled
Principal Receipts and Substitution Principal Amounts) and distributed to
Holders of the Certificates on such Distribution Date and all prior Distribution
Dates, (y) the principal portion of any Liquidated Loan Losses incurred on such
Mortgage Loans for which Liquidation Proceeds were received from the Cut-Off
Date through the end of the Applicable Unscheduled Principal Receipt Period with
respect to Full Unscheduled Principal Receipts for such Distribution Date and
(z) the principal portion of all Bankruptcy Losses (other than Debt Service
Reductions) incurred on the Mortgage Loans from the Cut-Off Date through the end
of the period corresponding to the Applicable Unscheduled Principal Receipt
Period with respect to Full Unscheduled Principal Receipts for such Distribution
Date.

            Adjusted Principal Balance: As to any Distribution Date and any
Class of Class B Certificates, the greater of (A) zero and (B) (i) the Principal
Balance of such Class with respect to such Distribution Date minus (ii) the
Adjustment Amount for such Distribution Date less the Principal Balances for any
Classes of Class B Certificates with higher numerical designations.

            Adjustment Amount: For any Distribution Date, the difference between
(A) the sum of the Class A Non-PO Principal Balance and the Class B Principal
Balance as of the related Determination Date and (B) the sum of (i) the sum of
the Class A Non-PO Principal Balance and the Class B Principal Balance as of the
Determination Date succeeding such Distribution Date and (ii) the aggregate
amount that would have been distributed to all Classes of Class A Non-PO
Certificates and the Class B Certificates as principal in accordance with
Section 4.01(a) for such Distribution Date without regard to the provisos in the
definitions of Class B-1 Optimal Principal Amount, Class B-2 Optimal Principal
Amount, Class B-3 Optimal Principal Amount, Class B-4 Optimal Principal Amount,
Class B-5 Optimal Principal Amount and Class B-6 Optimal Principal Amount.

            Aggregate Class A Unpaid Interest Shortfall: As to any Distribution
Date, an amount equal to the sum of the Class A Unpaid Interest Shortfalls for
all the Classes of Class A Certificates.

            Aggregate Non-PO Principal Balance: As of any Determination Date,
the sum of the Class A Non-PO Principal Balance and the Class B Principal
Balance as of such date.

            Agreement: This Pooling and Servicing Agreement and all amendments
and supplements hereto.

            Applicable Unscheduled Principal Receipt Period: With respect to the
Mortgage Loans serviced by each Servicer and each of the Full Unscheduled
Principal Receipts and Partial Unscheduled Principal Receipts, the Unscheduled
Principal Receipt Period specified on Schedule I hereto, as amended by the
Master Servicer pursuant to Section 10.01(b) hereof.

            Authenticating Agent: Any authenticating agent appointed by the
Trustee pursuant to Section 8.11. Initially, the Master Servicer shall be the
Authenticating Agent for the Certificates.

            Available Master Servicer Compensation: With respect to any
Distribution Date, the sum of (a) the Master Servicing Fee for such Distribution
Date, (b) interest earned through the business day preceding the applicable
Distribution Date on any Prepayments in Full remitted to the Master Servicer and
(c) the aggregate amount of Month End Interest remitted by the Servicers to the
Master Servicer pursuant to the related Servicing Agreements.

            Balloon Loan: A Mortgage Loan that provides for the payment of the
unamortized principal balance of such Mortgage Loan in a single payment at the
maturity of such Mortgage Loan that is greater than the preceding monthly
payment.

            Balloon Payment: A payment of the unamortized principal balance of a
Mortgage Loan in a single payment at the maturity of such Mortgage Loan that is
greater than the preceding Monthly Payment.

            Bankruptcy Code: The Bankruptcy Code of 1978, as amended.

            Bankruptcy Loss: With respect to any Mortgage Loan, a Deficient
Valuation or Debt Service Reduction; provided, however, that a Bankruptcy Loss
shall not be deemed a Bankruptcy Loss hereunder so long as the applicable
Servicer has notified the Master Servicer and the Trustee in writing that such
Servicer is diligently pursuing any remedies that may exist in connection with
the representations and warranties made regarding the related Mortgage Loan and
either (A) the related Mortgage Loan is not in default with regard to payments
due thereunder or (B) delinquent payments of principal and interest under the
related Mortgage Loan and any premiums on any applicable primary hazard
insurance policy and any related escrow payments in respect of such Mortgage
Loan are being advanced on a current basis by such Servicer without giving
effect to any Debt Service Reduction.

            Beneficial Owner: With respect to a Book-Entry Certificate, the
Person who is the beneficial owner of such Book-Entry Certificate, as reflected
on the books of the Clearing Agency, or on the books of a Person maintaining an
account with such Clearing Agency (directly or as an indirect participant, in
accordance with the rules of such Clearing Agency), as the case may be.

            Book-Entry Certificate: Any one of the Class A Certificates (other
than the Class A-R Certificate), Class B-1 Certificates, Class B-2 Certificates
and Class B-3 Certificates, beneficial ownership and transfers of which shall be
evidenced by, and made through, book entries by the Clearing Agency as described
in Section 5.01(b).

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

            Certificate: Any one of the Class A Certificates or Class B
Certificates.

            Certificate Account: The separate trust account established and
maintained by the Master Servicer pursuant to Section 3.01 which shall be
entitled "Certificate Account, Wells Fargo Bank, N.A., as Master Servicer on
behalf of the Trustee, in trust for the Holders of the Certificates of the Wells
Fargo Mortgage Backed Securities 2007-7 Trust." The Certificate Account shall be
an Eligible Account.

            Certificate Custodian: Initially, Wells Fargo Bank; thereafter any
other Certificate Custodian acceptable to The Depository Trust Company and
selected by the Trustee.

            Certificate Register and Certificate Registrar: Respectively, the
register maintained pursuant to and the registrar provided for in Section 5.02.
Initially the Certificate Registrar shall be the Master Servicer.

            Certificateholder or Holder: The Person in whose name a Certificate
is registered in the Certificate Register, except that, solely for the purposes
of the taking of any action under Articles VII or VIII, any Certificate
registered in the name of the Master Servicer, a Servicer or any affiliate
thereof shall be deemed not to be outstanding and the Voting Interest evidenced
thereby shall not be taken into account in determining whether the requisite
percentage of Certificates necessary to effect any such action has been
obtained.

            Class: All certificates whose form is identical except for
variations in the Percentage Interest evidenced thereby.

            Class A Certificate: Any of the Class A-1 Certificates, Class A-2
Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5
Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8
Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11
Certificates, Class A-12 Certificates, Class A-13 Certificates, Class A-14
Certificates, Class A-15 Certificates, Class A-16 Certificates, Class A-17
Certificates, Class A-18 Certificates, Class A-19 Certificates, Class A-20
Certificates, Class A-21 Certificates, Class A-22 Certificates, Class A-23
Certificates, Class A-24 Certificates, Class A-25 Certificates, Class A-26
Certificates, Class A-27 Certificates, Class A-28 Certificates, Class A-29
Certificates, Class A-30 Certificates, Class A-31 Certificates, Class A-32
Certificates, Class A-33 Certificates, Class A-34 Certificates, Class A-35
Certificates, Class A-36 Certificates, Class A-37 Certificates, Class A-38
Certificates, Class A-39 Certificates, Class A-40 Certificates, Class A-41
Certificates, Class A-42 Certificates, Class A-43 Certificates, Class A-44
Certificates, Class A-45 Certificates, Class A-46 Certificates, Class A-47
Certificates, Class A-48 Certificates, Class A-49 Certificates, Class A-50
Certificates, Class A-51 Certificates, Class A-PO Certificates and Class A-R
Certificate.

            Class A Certificateholder: The registered holder of a Class A
Certificate.

            Class A Distribution Amount: As to any Distribution Date and any
Class of Class A Certificates (other than the Class A-PO Certificates and the
Exchangeable Certificates), the amount distributable to such Class of Class A
Certificates pursuant to Paragraphs first, second and third clause (1) of
Section 4.01(a). As to any Distribution Date and the Class A-PO Certificates,
the amount distributable to the Class A-PO Certificates pursuant to Paragraphs
third clause (2) and fourth of Section 4.01(a) on such Distribution Date. As to
any Distribution Date and a Class of Exchangeable Certificates, the amount
distributable to such Class of Exchangeable Certificates pursuant to Section
4.01(g) on such Distribution Date.

            Class A Interest Accrual Amount: As to any Distribution Date, the
sum of the Interest Accrual Amounts for the Class A Certificates with respect to
such Distribution Date.

            Class A Interest Percentage: As to any Distribution Date and any
Class of Class A Certificates, the percentage calculated by dividing the
Interest Accrual Amount of such Class (determined without regard to clause (ii)
of the definition thereof) by the Class A Interest Accrual Amount (determined
without regard to clause (ii) of the definition of each Interest Accrual
Amount).

            Class A Interest Shortfall Amount: As to any Distribution Date and
any Class of Class A Certificates, any amount by which the Interest Accrual
Amount of such Class with respect to such Distribution Date exceeds the amount
distributed in respect of such Class on such Distribution Date pursuant to
Paragraph first of Section 4.01(a).

            Class A Interest Shortfall Percentage: As to any Distribution Date
and any Class of Class A Certificates, the percentage calculated by dividing the
Class A Unpaid Interest Shortfall for such Class by the Aggregate Class A Unpaid
Interest Shortfall, in each case determined as of the day preceding the
applicable Distribution Date.

            Class A Loss Denominator: As to any Determination Date, an amount
equal to the Class A Non-PO Principal Balance.

            Class A Loss Percentage: As to any Determination Date and any Class
of Class A Certificates (other than the Class A-PO Certificates), the percentage
calculated by dividing the Principal Balance of such Class by the Class A Loss
Denominator (determined without regard to any such Principal Balance of any
Class of Class A Certificates not then outstanding), in each case determined as
of the preceding Determination Date.

            Class A Non-PO Certificate: Any of the Class A Certificates (other
than the Class A-PO Certificates and the Exchangeable Certificates).

            Class A Non-PO Optimal Amount: As to any Distribution Date, the sum
for such Distribution Date of (i) the Class A Interest Accrual Amount, (ii) the
Aggregate Class A Unpaid Interest Shortfall and (iii) the Class A Non-PO Optimal
Principal Amount.

            Class A Non-PO Optimal Principal Amount: As to any Distribution
Date, an amount equal to the sum of (I) the sum, as to each Mortgage Loan that
is an Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with
respect to such Mortgage Loan, and (y) the sum of:

                  (i) the Class A Percentage of the principal portion of the
      Monthly Payment due on the Due Date occurring in the month of such
      Distribution Date on such Mortgage Loan;

                  (ii) the Class A Prepayment Percentage of all Unscheduled
      Principal Receipts (other than Recoveries) that were received by a
      Servicer with respect to such Mortgage Loan during the Applicable
      Unscheduled Principal Receipt Period relating to such Distribution Date
      for each applicable type of Unscheduled Principal Receipt;

                  (iii) the Class A Prepayment Percentage of the Scheduled
      Principal Balance of such Mortgage Loan which, during the one month period
      ending on the day preceding the Determination Date for such Distribution
      Date, was repurchased by the Depositor pursuant to Section 2.02, 2.03 or
      3.08; and

                  (iv) the Class A Percentage of the Substitution Principal
      Amount with respect to each Mortgage Loan for which a Mortgage Loan was
      substituted during the one month period ending on the day preceding the
      Determination Date for such Distribution Date, less the amount allocable
      to the principal portion of any unreimbursed Periodic Advances previously
      made by the applicable Servicer, the Master Servicer or the Trustee in
      respect of such Mortgage Loan for which a Mortgage Loan was substituted;
      and

      (II) the Class A Prepayment Percentage of the Non-PO Recovery for such
      Distribution Date.

            Class A Non-PO Principal Balance: As of any date, an amount equal to
the Class A Principal Balance less the Principal Balance of the Class A-PO
Certificates.

            Class A Non-PO Principal Distribution Amount: As to any Distribution
Date, the aggregate amount distributed in respect of the Classes of Class A
Non-PO Certificates pursuant to Paragraph third clause (1) of Section 4.01(a).

            Class A Pass-Through Rate: As to the Class A Certificates (other
than the Class A-8, Class A-9, Class A-32, Class A-33, Class A-43, Class A-50,
Class A-51 and Class A-PO Certificates), 6.000% per annum. As to the Class A-32
Certificates, 5.750% per annum. As to the Class A-33 Certificates, 6.250% per
annum. As to the Class A-8, Class A-9, Class A-43 and Class A-51 Certificates,
the Class A-8 Pass-Through Rate, Class A-9 Pass-Through Rate, Class A-43
Pass-Through Rate and Class A-51 Pass-Through Rate, respectively. The Class A-50
and Class A-PO Certificates are not entitled to interest and have no Class A
Pass-Through Rate.

            Class A Percentage: As to any Distribution Date occurring on or
prior to the Subordination Depletion Date, the lesser of (i) 100% and (ii) the
percentage obtained by dividing the Class A Non-PO Principal Balance (determined
as of the Determination Date preceding such Distribution Date) by the Pool
Balance (Non-PO Portion). As to any Distribution Date occurring subsequent to
the Subordination Depletion Date, 100% or such lesser percentage which will
cause the Class A Non-PO Principal Balance to decline to zero following the
distribution made on such Distribution Date.

            Class A Prepayment Percentage: As to any Distribution Date to and
including the Distribution Date in May 2012, 100%. As to any Distribution Date
subsequent to May 2012 to and including the Distribution Date in May 2013, the
Class A Percentage as of such Distribution Date plus 70% of the Subordinated
Percentage as of such Distribution Date. As to any Distribution Date subsequent
to May 2013 to and including the Distribution Date in May 2014, the Class A
Percentage as of such Distribution Date plus 60% of the Subordinated Percentage
as of such Distribution Date. As to any Distribution Date subsequent to May 2014
to and including the Distribution Date in May 2015, the Class A Percentage as of
such Distribution Date plus 40% of the Subordinated Percentage as of such
Distribution Date. As to any Distribution Date subsequent to May 2015 to and
including the Distribution Date in May 2016, the Class A Percentage as of such
Distribution Date plus 20% of the Subordinated Percentage as of such
Distribution Date. As to any Distribution Date subsequent to May 2016, the Class
A Percentage as of such Distribution Date. The foregoing is subject to the
following: (i) if the aggregate distribution to Holders of Class A Certificates
on any Distribution Date of the Class A Prepayment Percentage provided above of
Unscheduled Principal Receipts distributable on such Distribution Date would
reduce the Class A Non-PO Principal Balance below zero, the Class A Prepayment
Percentage for such Distribution Date shall be the percentage necessary to bring
the Class A Non-PO Principal Balance to zero and thereafter the Class A
Prepayment Percentage shall be zero and (ii) if the Class A Percentage as of any
Distribution Date is greater than the Original Class A Percentage, the Class A
Prepayment Percentage for such Distribution Date shall be 100%. Notwithstanding
the foregoing, with respect to any Distribution Date on which the following
criteria are not met, the reduction of the Class A Prepayment Percentage
described in the second through sixth sentences of this definition of Class A
Prepayment Percentage shall not be applicable with respect to such Distribution
Date. In such event, the Class A Prepayment Percentage for such Distribution
Date will be determined in accordance with the applicable provision, as set
forth in the first through fifth sentences above, which was actually used to
determine the Class A Prepayment Percentage for the Distribution Date occurring
in the May preceding such Distribution Date (it being understood that for the
purposes of the determination of the Class A Prepayment Percentage for the
current Distribution Date, the current Class A Percentage and Subordinated
Percentage shall be utilized).

            No reduction in the Class A Prepayment Percentage referred to in the
second through sixth sentences hereof shall be applicable, with respect to any
Distribution Date if (a) the average outstanding principal balance on such
Distribution Date and for the preceding five Distribution Dates on the Mortgage
Loans that were delinquent 60 days or more (including for this purpose any
payments due with respect to Mortgage Loans in foreclosure and REO Mortgage
Loans) were greater than or equal to 50% of the Class B Principal Balance or (b)
cumulative Realized Losses on the Mortgage Loans exceed (1) 30% of the Original
Class B Principal Balance if such Distribution Date occurs between and including
June 2012 and May 2013, (2) 35% of the Original Class B Principal Balance if
such Distribution Date occurs between and including June 2013 and May 2014, (3)
40% of the Original Class B Principal Balance if such Distribution Date occurs
between and including June 2014 and May 2015, (4) 45% of the Original Class B
Principal Balance if such Distribution Date occurs between and including June
2015 and May 2016, and (5) 50% of the Original Class B Principal Balance if such
Distribution Date occurs during or after June 2016. With respect to any
Distribution Date on which the Class A Prepayment Percentage is reduced below
the Class A Prepayment Percentage for the prior Distribution Date, the Master
Servicer shall certify to the Trustee, based upon information provided by each
Servicer as to the Mortgage Loans serviced by it that the criteria set forth in
the preceding sentence are met.

            Class A Principal Balance: As of any date, an amount equal to the
sum of the Principal Balances for the Class A Certificates.

            Class A Unpaid Interest Shortfall: As to any Distribution Date and
any Class of Class A Certificates, the amount, if any, by which the aggregate of
the Class A Interest Shortfall Amounts for such Class for prior Distribution
Dates is in excess of the amounts distributed in respect of such Class on prior
Distribution Dates pursuant to Paragraph second of Section 4.01(a).

            Class A-1 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-1 and Exhibit C hereto.

            Class A-1 Certificateholder: The registered holder of a Class A-1
Certificate.

            Class A-2 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-2 and Exhibit C hereto.

            Class A-2 Certificateholder: The registered holder of a Class A-2
Certificate.

            Class A-2 Loss Amount: With respect to any Determination Date after
the Subordination Depletion Date, the amount, if any, by which the Principal
Balance of the Class A-2 Certificates would be reduced as a result of the
application of the third sentence of the definition of Principal Balance.

            Class A-3 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-3 and Exhibit C hereto.

            Class A-3 Certificateholder: The registered holder of a Class A-3
Certificate.

            Class A-4 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-4 and Exhibit C hereto.

            Class A-4 Certificateholder: The registered holder of a Class A-4
Certificate.

            Class A-5 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-5 and Exhibit C hereto.

            Class A-5 Certificateholder: The registered holder of a Class A-5
Certificate.

            Class A-5 Loss Amount: With respect to any Determination Date after
the Subordination Depletion Date, the amount, if any, by which the Principal
Balance of the Class A-5 Certificates would be reduced as a result of the
application of the third sentence of the definition of Principal Balance.

            Class A-6 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-6 and Exhibit C hereto.

            Class A-6 Certificateholder: The registered holder of a Class A-6
Certificate.

            Class A-6 Loss Amount: With respect to any Determination Date after
the Subordination Depletion Date, the amount, if any, by which the Principal
Balance of the Class A-6 Certificates would be reduced as a result of the
application of the third sentence of the definition of Principal Balance.

            Class A-7 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-7 and Exhibit C hereto.

            Class A-7 Certificateholder: The registered holder of a Class A-7
Certificate.

            Class A-7 Loss Amount: With respect to any Determination Date after
the Subordination Depletion Date, the amount, if any, by which the Principal
Balance of the Class A-7 Certificates would be reduced as a result of the
application of the third sentence of the definition of Principal Balance.

            Class A-8 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-8 and Exhibit C hereto.

            Class A-8 Certificateholder: The registered holder of a Class A-8
Certificate.

            Class A-8 Pass-Through Rate: With respect to the Distribution Date
occurring in June 2007, 5.82% per annum. With respect to each succeeding
Distribution Date, a per annum rate, determined by the Paying Agent on the
applicable Rate Determination Date, equal to LIBOR plus 0.500%, subject to a
minimum rate of 0.500% and a maximum rate of 7.000%.

            Class A-9 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-9 and Exhibit C hereto.

            Class A-9 Certificateholder: The registered holder of a Class A-9
Certificate.

            Class A-9 Pass-Through Rate: With respect to the Distribution Date
occurring in June 2007, 7.08% per annum. With respect to each succeeding
Distribution Date, a per annum rate, determined by the Paying Agent on the
applicable Rate Determination Date, equal to 39.000% minus the product of 6 and
LIBOR, subject to a minimum rate of 0.000% and a maximum rate of 39.000%.

            Class A-10 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-10 and Exhibit C hereto.

            Class A-10 Certificateholder: The registered holder of a Class A-10
Certificate.

            Class A-11 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-11 and Exhibit C hereto.

            Class A-11 Certificateholder: The registered holder of a Class A-11
Certificate.

            Class A-12 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-12 and Exhibit C hereto.

            Class A-12 Certificateholder: The registered holder of a Class A-12
Certificate.

            Class A-13 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-13 and Exhibit C hereto.

            Class A-13 Certificateholder: The registered holder of a Class A-13
Certificate.

            Class A-14 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-14 and Exhibit C hereto.

            Class A-14 Certificateholder: The registered holder of a Class A-14
Certificate.

            Class A-15 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-15 and Exhibit C hereto.

            Class A-15 Certificateholder: The registered holder of a Class A-15
Certificate.

            Class A-16 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-16 and Exhibit C hereto.

            Class A-16 Certificateholder: The registered holder of a Class A-16
Certificate.

            Class A-17 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-17 and Exhibit C hereto.

            Class A-17 Certificateholder: The registered holder of a Class A-17
Certificate.

            Class A-18 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-18 and Exhibit C hereto.

            Class A-18 Certificateholder: The registered holder of a Class A-18
Certificate.

            Class A-19 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-19 and Exhibit C hereto.

            Class A-19 Certificateholder: The registered holder of a Class A-19
Certificate.

            Class A-20 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-20 and Exhibit C hereto.

            Class A-20 Certificateholder: The registered holder of a Class A-20
Certificate.

            Class A-21 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-21 and Exhibit C hereto.

            Class A-21 Certificateholder: The registered holder of a Class A-21
Certificate.

            Class A-22 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-22 and Exhibit C hereto.

            Class A-22 Certificateholder: The registered holder of a Class A-22
Certificate.

            Class A-23 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-23 and Exhibit C hereto.

            Class A-23 Certificateholder: The registered holder of a Class A-23
Certificate.

            Class A-24 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-24 and Exhibit C hereto.

            Class A-24 Certificateholder: The registered holder of a Class A-24
Certificate.

            Class A-25 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-25 and Exhibit C hereto.

            Class A-25 Certificateholder: The registered holder of a Class A-25
Certificate.

            Class A-26 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-26 and Exhibit C hereto.

            Class A-26 Certificateholder: The registered holder of a Class A-26
Certificate.

            Class A-27 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-27 and Exhibit C hereto.

            Class A-27 Certificateholder: The registered holder of a Class A-27
Certificate.

            Class A-28 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-28 and Exhibit C hereto.

            Class A-28 Certificateholder: The registered holder of a Class A-28
Certificate.

            Class A-29 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-29 and Exhibit C hereto.

            Class A-29 Certificateholder: The registered holder of a Class A-29
Certificate.

            Class A-30 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-30 and Exhibit C hereto.

            Class A-30 Certificateholder: The registered holder of a Class A-30
Certificate.

            Class A-31 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-31 and Exhibit C hereto.

            Class A-31 Certificateholder: The registered holder of a Class A-31
Certificate.

            Class A-32 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-32 and Exhibit C hereto.

            Class A-32 Certificateholder: The registered holder of a Class A-32
Certificate.

            Class A-33 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-33 and Exhibit C hereto.

            Class A-33 Certificateholder: The registered holder of a Class A-33
Certificate.

            Class A-34 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-34 and Exhibit C hereto.

            Class A-34 Certificateholder: The registered holder of a Class A-34
Certificate.

            Class A-35 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-35 and Exhibit C hereto.

            Class A-35 Certificateholder: The registered holder of a Class A-35
Certificate.

            Class A-36 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-36 and Exhibit C hereto.

            Class A-36 Certificateholder: The registered holder of a Class A-36
Certificate.

            Class A-36 Loss Amount: With respect to any Determination Date after
the Subordination Depletion Date, the amount, if any, by which the Principal
Balance of the Class A-36 Certificates would be reduced as a result of the
application of the third sentence of the definition of Principal Balance.

            Class A-37 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-37 and Exhibit C hereto.

            Class A-37 Certificateholder: The registered holder of a Class A-37
Certificate.

            Class A-37 Loss Allocation Amount: With respect to any Determination
Date after the Subordination Depletion Date the lesser of (a) the Principal
Balance of the Class A-37 Certificates with respect to such Determination Date
prior to any reduction for the Class A-37 Loss Allocation Amount and (b) the
Class A-2 Loss Amount.

            Class A-38 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-38 and Exhibit C hereto.

            Class A-38 Certificateholder: The registered holder of a Class A-38
Certificate.

            Class A-39 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-39 and Exhibit C hereto.

            Class A-39 Certificateholder: The registered holder of a Class A-39
Certificate.

            Class A-40 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-40 and Exhibit C hereto.

            Class A-40 Certificateholder: The registered holder of a Class A-40
Certificate.

            Class A-41 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-41 and Exhibit C hereto.

            Class A-41 Certificateholder: The registered holder of a Class A-41
Certificate.

            Class A-41 Loss Allocation Amount: With respect to any Determination
Date after the Subordination Depletion Date the lesser of (a) the Principal
Balance of the Class A-41 Certificates with respect to such Determination Date
prior to any reduction for the Class A-41 Loss Allocation Amount and (b) the
Class A-5 Loss Amount.

            Class A-42 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-42 and Exhibit C hereto.

            Class A-42 Certificateholder: The registered holder of a Class A-42
Certificate.

            Class A-43 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-43 and Exhibit C hereto.

            Class A-43 Certificateholder: The registered holder of a Class A-43
Certificate.

            Class A-43 Pass-Through Rate: With respect to the Distribution Date
occurring in June 2007, 5.82% per annum. With respect to each succeeding
Distribution Date, a per annum rate, determined by the Paying Agent on the
applicable Rate Determination Date, equal to LIBOR plus 0.500%, subject to a
minimum rate of 0.500% and a maximum rate of 7.000%.

            Class A-44 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-44 and Exhibit C hereto.

            Class A-44 Certificateholder: The registered holder of a Class A-44
Certificate.

            Class A-44 Loss Amount: With respect to any Determination Date after
the Subordination Depletion Date, the amount, if any, by which the Principal
Balance of the Class A-44 Certificates would be reduced as a result of the
application of the third sentence of the definition of Principal Balance.

            Class A-45 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-45 and Exhibit C hereto.

            Class A-45 Certificateholder: The registered holder of a Class A-45
Certificate.

            Class A-45 Loss Allocation Amount: With respect to any Determination
Date after the Subordination Depletion Date the lesser of (a) the Principal
Balance of the Class A-45 Certificates with respect to such Determination Date
prior to any reduction for the Class A-45 Loss Allocation Amount and (b) the
Class A-6 Loss Amount.

            Class A-46 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-46 and Exhibit C hereto.

            Class A-46 Certificateholder: The registered holder of a Class A-46
Certificate.

            Class A-46 Loss Allocation Amount: With respect to any Determination
Date after the Subordination Depletion Date the lesser of (a) the Principal
Balance of the Class A-46 Certificates with respect to such Determination Date
prior to any reduction for the Class A-46 Loss Allocation Amount and (b) the
Class A-7 Loss Amount.

            Class A-47 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-47 and Exhibit C hereto.

            Class A-47 Certificateholder: The registered holder of a Class A-47
Certificate.

            Class A-47 Loss Allocation Amount: With respect to any Determination
Date after the Subordination Depletion Date the lesser of (a) the Principal
Balance of the Class A-47 Certificates with respect to such Determination Date
prior to any reduction for the Class A-47 Loss Allocation Amount and (b) the
Class A-44 Loss Amount.

            Class A-48 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-48 and Exhibit C hereto.

            Class A-48 Certificateholder: The registered holder of a Class A-48
Certificate.

            Class A-48 Loss Allocation Amount: With respect to any Determination
Date after the Subordination Depletion Date the lesser of (a) the Principal
Balance of the Class A-48 Certificates with respect to such Determination Date
prior to any reduction for the Class A-48 Loss Allocation Amount and (b) the
Class A-36 Loss Amount.

            Class A-49 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-49 and Exhibit C hereto.

            Class A-49 Certificateholder: The registered holder of a Class A-49
Certificate.

            Class A-50 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-50 and Exhibit C hereto.

            Class A-50 Certificateholder: The registered holder of a Class A-50
Certificate.

            Class A-51 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-51 and Exhibit C hereto.

            Class A-51 Certificateholder: The registered holder of a Class A-51
Certificate.

            Class A-51 Pass-Through Rate: With respect to the Distribution Date
occurring in June 2007, 1.18% per annum. With respect to each succeeding
Distribution Date, a per annum rate, determined by the Paying Agent on the
applicable Rate Determination Date, equal to 6.500% minus LIBOR, subject to a
minimum rate of 0.000% and a maximum rate of 6.500%.

            Class A-PO Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit A-PO and Exhibit C hereto.

            Class A-PO Certificateholder: The registered holder of a Class A-PO
Certificate.

            Class A-PO Deferred Amount: For any Distribution Date prior to the
Subordination Depletion Date, the difference between (A) the sum of (x) the
amount by which the sum of the Class A-PO Optimal Principal Amounts for all
prior Distribution Dates exceeded the amounts distributed on the Class A-PO
Certificates on such prior Distribution Dates pursuant to Paragraph third clause
(2) of Section 4.01(a) and (y) the sum of the product for each Discount Mortgage
Loan which became a Liquidated Loan at any time on or prior to the last day of
the Applicable Unscheduled Principal Receipt Period for Full Unscheduled
Principal Receipts for the current Distribution Date of (a) the PO Fraction for
such Discount Mortgage Loan and (b) an amount equal to the principal portion of
Realized Losses (other than Bankruptcy Losses due to Debt Service Reductions)
incurred with respect to such Discount Mortgage Loan and (B) the sum of (x) the
sum of the Class A-PO Recoveries for such Distribution Date and prior
Distribution Dates and (y) amounts distributed on the Class A-PO Certificates on
prior Distribution Dates pursuant to Paragraph fourth of Section 4.01(a). On and
after the Subordination Depletion Date, the Class A-PO Deferred Amount will be
zero. No interest will accrue on any Class A-PO Deferred Amount.

            Class A-PO Optimal Principal Amount: As to any Distribution Date, an
amount equal to the sum of (I) the sum, as to each Mortgage Loan that is an
Outstanding Mortgage Loan, of the product of (x) the PO Fraction with respect to
such Mortgage Loan and (y) the sum of:

            (i) the principal portion of the Monthly Payment due on the Due Date
      occurring in the month of such Distribution Date on such Mortgage Loan;

            (ii) all Unscheduled Principal Receipts (other than Recoveries) that
      were received by a Servicer with respect to such Mortgage Loan during the
      Applicable Unscheduled Principal Receipt Period relating to such
      Distribution Date for each applicable type of Unscheduled Principal
      Receipt;

            (iii) the Scheduled Principal Balance of each Mortgage Loan which,
      during the one month period ending on the day preceding the Determination
      Date for such Distribution Date, was repurchased by the Depositor pursuant
      to Section 2.02, 2.03 or 3.08; and

            (iv) the Substitution Principal Amount with respect to each Mortgage
      Loan for which a Mortgage Loan was substituted during the one month period
      ending on the day preceding the Determination Date for such Distribution
      Date, less the amount allocable to the principal portion of any
      unreimbursed Periodic Advances previously made by the applicable Servicer,
      the Master Servicer or the Trustee in respect of such Mortgage Loan for
      which a Mortgage Loan was substituted; and

      (II) the Class A-PO Recovery for such Distribution Date.

            Class A-PO Recovery: As to any Distribution Date prior to the
Subordination Depletion Date, the lesser of (a) the Class A-PO Deferred Amount
for such Distribution Date (calculated without regard to the Class A-PO Recovery
for such Distribution Date) and (b) an amount equal to the sum as to each
Mortgage Loan as to which there has been a Recovery during the Applicable
Unscheduled Principal Receipt Period, of the product of (x) the PO Fraction with
respect to such Mortgage Loan and (y) the amount of the Recovery with respect to
such Mortgage Loan. As to any Distribution Date on or after the Subordination
Depletion Date, the amount determined in accordance with clause (b) above.

            Class A-R Certificate: The Certificate executed by the Paying Agent
and countersigned by the Authenticating Agent in substantially the form set
forth in Exhibit A-R and Exhibit C hereto.

            Class A-R Certificateholder: The registered holder of the Class A-R
Certificate.

            Class B Certificate: Any of the Class B-1 Certificates, Class B-2
Certificates, Class B-3 Certificates, Class B-4 Certificates, Class B-5
Certificates or Class B-6 Certificates.

            Class B Certificateholder: The registered holder of a Class B
Certificate.

            Class B Distribution Amount: Any of the Class B-1, Class B-2, Class
B-3, Class B-4, Class B-5 and Class B-6 Distribution Amounts.

            Class B Interest Accrual Amount: With respect to any Distribution
Date, the sum of the Interest Accrual Amounts for the Classes of Class B
Certificates with respect to such Distribution Date.

            Class B Interest Percentage: With respect to any Distribution Date
and any Class of Class B Certificates, the percentage calculated by dividing the
Interest Accrual Amount of such Class (determined without regard to clause (ii)
of the definition thereof) by the Class B Interest Accrual Amount (determined
without regard to clause (ii) of the definition of each Interest Accrual
Amount).

            Class B Interest Shortfall Amount: Any of the Class B-1 Interest
Shortfall Amount, Class B-2 Interest Shortfall Amount, Class B-3 Interest
Shortfall Amount, Class B-4 Interest Shortfall Amount, Class B-5 Interest
Shortfall Amount or Class B-6 Interest Shortfall Amount.

            Class B Loss Percentage: With respect to any Determination Date and
any Class of Class B Certificates then outstanding, the percentage calculated by
dividing the Principal Balance of such Class B Certificates by the Class B
Principal Balance (determined without regard to any Principal Balance of any
Class of Class B Certificates not then outstanding), in each case determined as
of the preceding Determination Date.

            Class B Optimal Principal Amount: Any of the Class B-1, Class B-2,
Class B-3, Class B-4, Class B-5 or Class B-6 Optimal Principal Amounts.

            Class B Pass-Through Rate: As to any Distribution Date, a per annum
rate equal to 6.000%.

            Class B Percentage: Any one of the Class B-1 Percentage, Class B-2
Percentage, Class B-3 Percentage, Class B-4 Percentage, Class B-5 Percentage or
Class B-6 Percentage.

            Class B Prepayment Percentage: Any of the Class B-1 Prepayment
Percentage, Class B-2 Prepayment Percentage, Class B-3 Prepayment Percentage,
Class B-4 Prepayment Percentage, Class B-5 Prepayment Percentage or Class B-6
Prepayment Percentage.

            Class B Principal Balance: As of any date, an amount equal to the
sum of the Class B-1 Principal Balance, Class B-2 Principal Balance, Class B-3
Principal Balance, Class B-4 Principal Balance, Class B-5 Principal Balance and
Class B-6 Principal Balance.

            Class B Unpaid Interest Shortfall: Any of the Class B-1 Unpaid
Interest Shortfall, Class B-2 Unpaid Interest Shortfall, Class B-3 Unpaid
Interest Shortfall, Class B-4 Unpaid Interest Shortfall, Class B-5 Unpaid
Interest Shortfall or Class B-6 Unpaid Interest Shortfall.

            Class B-1 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit B-1 and Exhibit C hereto.

            Class B-1 Certificateholder: The registered holder of a Class B-1
Certificate.

            Class B-1 Distribution Amount: As to any Distribution Date, any
amount distributable to the Holders of the Class B-1 Certificates pursuant to
Paragraphs fifth, sixth and seventh of Section 4.01(a).

            Class B-1 Interest Shortfall Amount: As to any Distribution Date,
any amount by which the Interest Accrual Amount of the Class B-1 Certificates
with respect to such Distribution Date exceeds the amount distributed in respect
of the Class B-1 Certificates on such Distribution Date pursuant to Paragraph
fifth of Section 4.01(a).

            Class B-1 Optimal Principal Amount: As to any Distribution Date, an
amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of
the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and
(y) the sum of:

            (i) the Class B-1 Percentage of the principal portion of the Monthly
      Payment due on the Due Date occurring in the month of such Distribution
      Date on such Mortgage Loan;

            (ii) the Class B-1 Prepayment Percentage of all Unscheduled
      Principal Receipts (other than Recoveries) that were received by a
      Servicer with respect to such Mortgage Loan during the Applicable
      Unscheduled Principal Receipt Period relating to such Distribution Date
      for each applicable type of Unscheduled Principal Receipt;

            (iii) the Class B-1 Prepayment Percentage of the Scheduled Principal
      Balance of such Mortgage Loan which, during the one month period ending on
      the day preceding the Determination Date for such Distribution Date, was
      repurchased by the Depositor pursuant to Section 2.02, 2.03 or 3.08; and

            (iv) the Class B-1 Percentage of the Substitution Principal Amount
      with respect to each Mortgage Loan for which a Mortgage Loan was
      substituted during the one month period ending on the day preceding the
      Determination Date for such Distribution Date, less the amount allocable
      to the principal portion of any unreimbursed Periodic Advances previously
      made by the applicable Servicer, the Master Servicer or the Trustee in
      respect of such Mortgage Loan for which a Mortgage Loan was substituted;
      and

      (II) the Class B-1 Prepayment Percentage of the Non-PO Recovery for such
      Distribution Date;

provided, however, that if an Optimal Adjustment Event occurs with respect to
such Class and such Distribution Date, the Class B-1 Optimal Principal Amount
will equal the lesser of (A) the Class B-1 Optimal Principal Amount calculated
as described in the preceding provisions and (B) the Adjusted Principal Balance
for the Class B-1 Certificates.

            Class B-1 Percentage: As to any Distribution Date, the percentage
calculated by multiplying the Subordinated Percentage by either (i) if any Class
B Certificates (other than the Class B-1 Certificates) are eligible to receive
principal distributions for such Distribution Date in accordance with Section
4.01(d), a fraction, the numerator of which is the Class B-1 Principal Balance
(determined as of the Determination Date preceding such Distribution Date) and
the denominator of which is the sum of the Principal Balances of the Classes of
Class B Certificates eligible to receive principal distributions for such
Distribution Date in accordance with the provisions of Section 4.01(d) or (ii)
except as set forth in Section 4.01(d)(ii), in the event that the Class B
Certificates (other than the Class B-1 Certificates) are not eligible to receive
distributions of principal in accordance with Section 4.01(d)(i), one.

            Class B-1 Prepayment Percentage: As to any Distribution Date, the
percentage calculated by multiplying the Subordinated Prepayment Percentage by
either (i) if any Class B Certificates (other than the Class B-1 Certificates)
are eligible to receive principal distributions for such Distribution Date in
accordance with Section 4.01(d), a fraction, the numerator of which is the Class
B-1 Principal Balance (determined as of the Determination Date preceding such
Distribution Date) and the denominator of which is the sum of the Principal
Balances of the Classes of Class B Certificates eligible to receive principal
distributions for such Distribution Date in accordance with the provisions of
Section 4.01(d) or (ii) except as set forth in Section 4.01(d)(ii), in the event
that the Class B Certificates (other than the Class B-1 Certificates) are not
eligible to receive distributions of principal in accordance with Section
4.01(d)(i), one.

            Class B-1 Principal Balance: As to the first Determination Date, the
Original Class B-1 Principal Balance. As of any subsequent Determination Date,
the Original Class B-1 Principal Balance less the sum of all amounts previously
distributed in respect of the Class B-1 Certificates on prior Distribution Dates
(A) pursuant to Paragraph seventh of Section 4.01(a) (including any principal
otherwise payable to the Class B-1 Certificates used to pay any Class A-PO
Deferred Amounts) and (B) as a result of a Principal Adjustment; provided,
however, if the Class B-1 Certificates are the most subordinate Certificates
outstanding, the Class B-1 Principal Balance will equal the difference, if any,
between the Adjusted Pool Amount (Non-PO Portion) as of the preceding
Distribution Date less the Class A Non-PO Principal Balance as of such
Determination Date.

            Class B-1 Unpaid Interest Shortfall: As to any Distribution Date,
the amount, if any, by which the aggregate of the Class B-1 Interest Shortfall
Amounts for prior Distribution Dates is in excess of the amounts distributed in
respect of the Class B-1 Certificates on prior Distribution Dates pursuant to
Paragraph sixth of Section 4.01(a).

            Class B-2 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit B-2 and Exhibit C hereto.

            Class B-2 Certificateholder: The registered holder of a Class B-2
Certificate.

            Class B-2 Distribution Amount: As to any Distribution Date, any
amount distributable to the Holders of the Class B-2 Certificates pursuant to
Paragraphs eighth, ninth and tenth of Section 4.01(a).

            Class B-2 Interest Shortfall Amount: As to any Distribution Date,
any amount by which the Interest Accrual Amount of the Class B-2 Certificates
with respect to such Distribution Date exceeds the amount distributed in respect
of the Class B-2 Certificates on such Distribution Date pursuant to Paragraph
eighth of Section 4.01(a).

            Class B-2 Optimal Principal Amount: As to any Distribution Date, an
amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of
the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and
(y) the sum of:

            (i) the Class B-2 Percentage of the principal portion of the Monthly
      Payment due on the Due Date occurring in the month of such Distribution
      Date on such Mortgage Loan;

            (ii) the Class B-2 Prepayment Percentage of all Unscheduled
      Principal Receipts (other than Recoveries) that were received by a
      Servicer with respect to such Mortgage Loan during the Applicable
      Unscheduled Principal Receipt Period relating to such Distribution Date
      for each applicable type of Unscheduled Principal Receipt;

            (iii) the Class B-2 Prepayment Percentage of the Scheduled Principal
      Balance of such Mortgage Loan which, during the one month period ending on
      the day preceding the Determination Date for such Distribution Date, was
      repurchased by the Depositor pursuant to Section 2.02, 2.03 or 3.08; and

            (iv) the Class B-2 Percentage of the Substitution Principal Amount
      with respect to each Mortgage Loan for which a Mortgage Loan was
      substituted during the one month period ending on the day preceding the
      Determination Date for such Distribution Date, less the amount allocable
      to the principal portion of any unreimbursed Periodic Advances previously
      made by the applicable Servicer, the Master Servicer or the Trustee in
      respect of such Mortgage Loan for which a Mortgage Loan was substituted;
      and

      (II) the Class B-2 Prepayment Percentage of the Non-PO Recovery for such
      Distribution Date;

provided, however, that if an Optimal Adjustment Event occurs with respect to
such Class and such Distribution Date, the Class B-2 Optimal Principal Amount
will equal the lesser of (A) the Class B-2 Optimal Principal Amount calculated
as described in the preceding provisions and (B) the Adjusted Principal Balance
for the Class B-2 Certificates.

            Class B-2 Percentage: As to any Distribution Date, except as set
forth in the next sentence, the percentage calculated by multiplying (i) the
Subordinated Percentage by (ii) a fraction, the numerator of which is the Class
B-2 Principal Balance (determined as of the Determination Date preceding such
Distribution Date) and the denominator of which is the sum of the Principal
Balances of the Classes of Class B Certificates eligible to receive principal
distributions for such Distribution Date in accordance with the provisions of
Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that
the Class B-2 Certificates are not eligible to receive distributions of
principal in accordance with Section 4.01(d)(i), the Class B-2 Percentage for
such Distribution Date will be zero.

            Class B-2 Prepayment Percentage: As to any Distribution Date, except
as set forth in the next sentence, the percentage calculated by multiplying (i)
the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of
which is the Class B-2 Principal Balance (determined as of the Determination
Date preceding such Distribution Date) and the denominator of which is the sum
of the Principal Balances of the Classes of Class B Certificates eligible to
receive principal distributions for such Distribution Date in accordance with
the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii),
in the event that the Class B-2 Certificates are not eligible to receive
distributions of principal in accordance with Section 4.01(d)(i), the Class B-2
Prepayment Percentage for such Distribution Date will be zero.

            Class B-2 Principal Balance: As to the first Determination Date, the
Original Class B-2 Principal Balance. As of any subsequent Determination Date,
the Original Class B-2 Principal Balance less the sum of all amounts previously
distributed in respect of the Class B-2 Certificates on prior Distribution Dates
(A) pursuant to Paragraph tenth of Section 4.01(a) (including any principal
otherwise payable to the Class B-2 Certificates used to pay any Class A-PO
Deferred Amounts) and (B) as a result of a Principal Adjustment; provided,
however, if the Class B-2 Certificates are the most subordinate Certificates
outstanding, the Class B-2 Principal Balance will equal the difference, if any,
between the Adjusted Pool Amount (Non-PO Portion) as of the preceding
Distribution Date less the sum of the Class A Non-PO Principal Balance and the
Class B-1 Principal Balance as of such Determination Date.

            Class B-2 Unpaid Interest Shortfall: As to any Distribution Date,
the amount, if any, by which the aggregate of the Class B-2 Interest Shortfall
Amounts for prior Distribution Dates is in excess of the amounts distributed in
respect of the Class B-2 Certificates on prior Distribution Dates pursuant to
Paragraph ninth of Section 4.01(a).

            Class B-3 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit B-3 and Exhibit C hereto.

            Class B-3 Certificateholder: The registered holder of a Class B-3
Certificate.

            Class B-3 Distribution Amount: As to any Distribution Date, any
amount distributable to the Holders of the Class B-3 Certificates pursuant to
Paragraphs eleventh, twelfth and thirteenth of Section 4.01(a).

            Class B-3 Interest Shortfall Amount: As to any Distribution Date,
any amount by which the Interest Accrual Amount of the Class B-3 Certificates
with respect to such Distribution Date exceeds the amount distributed in respect
of the Class B-3 Certificates on such Distribution Date pursuant to Paragraph
eleventh of Section 4.01(a).

            Class B-3 Optimal Principal Amount: As to any Distribution Date, an
amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of
the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and
(y) the sum of:

            (i) the Class B-3 Percentage of the principal portion of the Monthly
      Payment due on the Due Date occurring in the month of such Distribution
      Date on such Mortgage Loan;

            (ii) the Class B-3 Prepayment Percentage of all Unscheduled
      Principal Receipts (other than Recoveries) that were received by a
      Servicer with respect to such Mortgage Loan during the Applicable
      Unscheduled Principal Receipt Period relating to such Distribution Date
      for each applicable type of Unscheduled Principal Receipt;

            (iii) the Class B-3 Prepayment Percentage of the Scheduled Principal
      Balance of such Mortgage Loan which, during the one month period ending on
      the day preceding the Determination Date for such Distribution Date, was
      repurchased by the Depositor pursuant to Section 2.02, 2.03 or 3.08; and

            (iv) the Class B-3 Percentage of the Substitution Principal Amount
      with respect to each Mortgage Loan for which a Mortgage Loan was
      substituted during the one month period ending on the day preceding the
      Determination Date for such Distribution Date, less the amount allocable
      to the principal portion of any unreimbursed Periodic Advances previously
      made by the applicable Servicer, the Master Servicer or the Trustee in
      respect of such Mortgage Loan for which a Mortgage Loan was substituted;
      and

      (II) the Class B-3 Prepayment Percentage of the Non-PO Recovery for such
      Distribution Date;

provided, however, that if an Optimal Adjustment Event occurs with respect to
such Class and such Distribution Date, the Class B-3 Optimal Principal Amount
will equal the lesser of (A) the Class B-3 Optimal Principal Amount calculated
as described in the preceding provisions and (B) the Adjusted Principal Balance
for the Class B-3 Certificates.

            Class B-3 Percentage: As to any Distribution Date, except as set
forth in the next sentence, the percentage calculated by multiplying (i) the
Subordinated Percentage by (ii) a fraction, the numerator of which is the Class
B-3 Principal Balance (determined as of the Determination Date preceding such
Distribution Date) and the denominator of which is the sum of the Principal
Balances of the Classes of Class B Certificates eligible to receive principal
distributions for such Distribution Date in accordance with the provisions of
Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that
the Class B-3 Certificates are not eligible to receive distributions of
principal in accordance with Section 4.01(d)(i), the Class B-3 Percentage for
such Distribution Date will be zero.

            Class B-3 Prepayment Percentage: As to any Distribution Date, except
as set forth in the next sentence, the percentage calculated by multiplying (i)
the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of
which is the Class B-3 Principal Balance (determined as of the Determination
Date preceding such Distribution Date) and the denominator of which is the sum
of the Principal Balances of the Classes of Class B Certificates eligible to
receive principal distributions for such Distribution Date in accordance with
the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii),
in the event that the Class B-3 Certificates are not eligible to receive
distributions of principal in accordance with Section 4.01(d)(i), the Class B-3
Prepayment Percentage for such Distribution Date will be zero.

            Class B-3 Principal Balance: As to the first Determination Date, the
Original Class B-3 Principal Balance. As of any subsequent Determination Date,
the Original Class B-3 Principal Balance less the sum of all amounts previously
distributed in respect of the Class B-3 Certificates on prior Distribution Dates
(A) pursuant to Paragraph thirteenth of Section 4.01(a) (including any principal
otherwise payable to the Class B-3 Certificates used to pay any Class A-PO
Deferred Amounts) and (B) as a result of a Principal Adjustment; provided,
however, if the Class B-3 Certificates are the most subordinate Certificates
outstanding, the Class B-3 Principal Balance will equal the difference, if any,
between the Adjusted Pool Amount (Non-PO Portion) as of the preceding
Distribution Date less the sum of the Class A Non-PO Principal Balance, the
Class B-1 Principal Balance and the Class B-2 Principal Balance as of such
Determination Date.

            Class B-3 Unpaid Interest Shortfall: As to any Distribution Date,
the amount, if any, by which the aggregate of the Class B-3 Interest Shortfall
Amounts for prior Distribution Dates is in excess of the amounts distributed in
respect of the Class B-3 Certificates on prior Distribution Dates pursuant to
Paragraph twelfth of Section 4.01(a).

            Class B-4 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit B-4 and Exhibit C hereto.

            Class B-4 Certificateholder: The registered holder of a Class B-4
Certificate.

            Class B-4 Distribution Amount: As to any Distribution Date, any
amount distributable to the Holders of the Class B-4 Certificates pursuant to
Paragraphs fourteenth, fifteenth and sixteenth of Section 4.01(a).

            Class B-4 Interest Shortfall Amount: As to any Distribution Date,
any amount by which the Interest Accrual Amount of the Class B-4 Certificates
with respect to such Distribution Date exceeds the amount distributed in respect
of the Class B-4 Certificates on such Distribution Date pursuant to Paragraph
fourteenth of Section 4.01(a).

            Class B-4 Optimal Principal Amount: As to any Distribution Date, an
amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of
the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and
(y) the sum of:

            (i) the Class B-4 Percentage of the principal portion of the Monthly
      Payment due on the Due Date occurring in the month of such Distribution
      Date on such Mortgage Loan;

            (ii) the Class B-4 Prepayment Percentage of all Unscheduled
      Principal Receipts (other than Recoveries) that were received by a
      Servicer with respect to such Mortgage Loan during the Applicable
      Unscheduled Principal Receipt Period relating to such Distribution Date
      for each applicable type of Unscheduled Principal Receipt;

            (iii) the Class B-4 Prepayment Percentage of the Scheduled Principal
      Balance of such Mortgage Loan which, during the one month period ending on
      the day preceding the Determination Date for such Distribution Date, was
      repurchased by the Depositor pursuant to Section 2.02, 2.03 or 3.08; and

            (iv) the Class B-4 Percentage of the Substitution Principal Amount
      with respect to each Mortgage Loan for which a Mortgage Loan was
      substituted during the one month period ending on the day preceding the
      Determination Date for such Distribution Date, less the amount allocable
      to the principal portion of any unreimbursed Periodic Advances previously
      made by the applicable Servicer, the Master Servicer or the Trustee in
      respect of such Mortgage Loan for which a Mortgage Loan was substituted;
      and

      (II) the Class B-4 Prepayment Percentage of the Non-PO Recovery for such
      Distribution Date;

provided, however, that if an Optimal Adjustment Event occurs with respect to
such Class and such Distribution Date, the Class B-4 Optimal Principal Amount
will equal the lesser of (A) the Class B-4 Optimal Principal Amount calculated
as described in the preceding provisions and (B) the Adjusted Principal Balance
for the Class B-4 Certificates.

            Class B-4 Percentage: As to any Distribution Date, except as set
forth in the next sentence, the percentage calculated by multiplying (i) the
Subordinated Percentage by (ii) a fraction, the numerator of which is the Class
B-4 Principal Balance (determined as of the Determination Date preceding such
Distribution Date) and the denominator of which is the sum of the Principal
Balances of the Classes of Class B Certificates eligible to receive principal
distributions for such Distribution Date in accordance with the provisions of
Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that
the Class B-4 Certificates are not eligible to receive distributions of
principal in accordance with Section 4.01(d)(i), the Class B-4 Percentage for
such Distribution Date will be zero.

            Class B-4 Prepayment Percentage: As to any Distribution Date, except
as set forth in the next sentence, the percentage calculated by multiplying (i)
the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of
which is the Class B-4 Principal Balance (determined as of the Determination
Date preceding such Distribution Date) and the denominator of which is the sum
of the Principal Balances of the Classes of Class B Certificates eligible to
receive principal distributions for such Distribution Date in accordance with
the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii),
in the event that the Class B-4 Certificates are not eligible to receive
distributions of principal in accordance with Section 4.01(d)(i), the Class B-4
Prepayment Percentage for such Distribution Date will be zero.

            Class B-4 Principal Balance: As to the first Determination Date, the
Original Class B-4 Principal Balance. As of any subsequent Determination Date,
the Original Class B-4 Principal Balance less the sum of all amounts previously
distributed in respect of the Class B-4 Certificates on prior Distribution Dates
(A) pursuant to Paragraph sixteenth of Section 4.01(a) (including any principal
otherwise payable to the Class B-4 Certificates used to pay any Class A-PO
Deferred Amounts) and (B) as a result of a Principal Adjustment; provided,
however, if the Class B-4 Certificates are the most subordinate Certificates
outstanding, the Class B-4 Principal Balance will equal the difference, if any,
between the Adjusted Pool Amount (Non-PO Portion) as of the preceding
Distribution Date less the sum of the Class A Non-PO Principal Balance, the
Class B-1 Principal Balance, the Class B-2 Principal Balance and the Class B-3
Principal Balance as of such Determination Date.

            Class B-4 Unpaid Interest Shortfall: As to any Distribution Date,
the amount, if any, by which the aggregate of the Class B-4 Interest Shortfall
Amounts for prior Distribution Dates is in excess of the amounts distributed in
respect of the Class B-4 Certificates on prior Distribution Dates pursuant to
Paragraph fifteenth of Section 4.01(a).

            Class B-5 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit B-5 and Exhibit C hereto.

            Class B-5 Certificateholder: The registered holder of a Class B-5
Certificate.

            Class B-5 Distribution Amount: As to any Distribution Date, any
amount distributable to the Holders of the Class B-5 Certificates pursuant to
Paragraphs seventeenth, eighteenth and nineteenth of Section 4.01(a).

            Class B-5 Interest Shortfall Amount: As to any Distribution Date,
any amount by which the Interest Accrual Amount of the Class B-5 Certificates
with respect to such Distribution Date exceeds the amount distributed in respect
of the Class B-5 Certificates on such Distribution Date pursuant to Paragraph
seventeenth of Section 4.01(a).

            Class B-5 Optimal Principal Amount: As to any Distribution Date, an
amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of
the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and
(y) the sum of:

            (i) the Class B-5 Percentage of the principal portion of the Monthly
      Payment due on the Due Date occurring in the month of such Distribution
      Date on such Mortgage Loan;

            (ii) the Class B-5 Prepayment Percentage of all Unscheduled
      Principal Receipts (other than Recoveries) that were received by a
      Servicer with respect to such Mortgage Loan during the Applicable
      Unscheduled Principal Receipt Period relating to such Distribution Date
      for each applicable type of Unscheduled Principal Receipt;

            (iii) the Class B-5 Prepayment Percentage of the Scheduled Principal
      Balance of such Mortgage Loan which, during the one month period ending on
      the day preceding the Determination Date for such Distribution Date, was
      repurchased by the Depositor pursuant to Section 2.02, 2.03 or 3.08; and

            (iv) the Class B-5 Percentage of the Substitution Principal Amount
      with respect to each Mortgage Loan for which a Mortgage Loan was
      substituted during the one month period ending on the day preceding the
      Determination Date for such Distribution Date, less the amount allocable
      to the principal portion of any unreimbursed Periodic Advances previously
      made by the applicable Servicer, the Master Servicer or the Trustee in
      respect of such Mortgage Loan for which a Mortgage Loan was substituted;
      and

      (II) the Class B-5 Prepayment Percentage of the Non-PO Recovery for such
      Distribution Date;

provided, however, that if an Optimal Adjustment Event occurs with respect to
such Class and such Distribution Date, the Class B-5 Optimal Principal Amount
will equal the lesser of (A) the Class B-5 Optimal Principal Amount calculated
as described in the preceding provisions and (B) the Adjusted Principal Balance
for the Class B-5 Certificates.

            Class B-5 Percentage: As to any Distribution Date, except as set
forth in the next sentence, the percentage calculated by multiplying (i) the
Subordinated Percentage by (ii) a fraction, the numerator of which is the Class
B-5 Principal Balance (determined as of the Determination Date preceding such
Distribution Date) and the denominator of which is the sum of the Principal
Balances of the Classes of Class B Certificates eligible to receive principal
distributions for such Distribution Date in accordance with the provisions of
Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that
the Class B-5 Certificates are not eligible to receive distributions of
principal in accordance with Section 4.01(d)(i), the Class B-5 Percentage for
such Distribution Date will be zero.

            Class B-5 Prepayment Percentage: As to any Distribution Date, except
as set forth in the next sentence, the percentage calculated by multiplying (i)
the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of
which is the Class B-5 Principal Balance (determined as of the Determination
Date preceding such Distribution Date) and the denominator of which is the sum
of the Principal Balances of the Classes of Class B Certificates eligible to
receive principal distributions for such Distribution Date in accordance with
the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii),
in the event that the Class B-5 Certificates are not eligible to receive
distributions of principal in accordance with Section 4.01(d)(i), the Class B-5
Prepayment Percentage for such Distribution Date will be zero.

            Class B-5 Principal Balance: As to the first Determination Date, the
Original Class B-5 Principal Balance. As of any subsequent Determination Date,
the Original Class B-5 Principal Balance less the sum of all amounts previously
distributed in respect of the Class B-5 Certificates on prior Distribution Dates
(A) pursuant to Paragraph nineteenth of Section 4.01(a) (including any principal
otherwise payable to the Class B-5 Certificates used to pay any Class A-PO
Deferred Amounts) and (B) as a result of a Principal Adjustment; provided,
however, if the Class B-5 Certificates are the most subordinate Certificates
outstanding, the Class B-5 Principal Balance will equal the difference, if any,
between the Adjusted Pool Amount (Non-PO Portion) as of the preceding
Distribution Date less the sum of the Class A Non-PO Principal Balance, the
Class B-1 Principal Balance, the Class B-2 Principal Balance, the Class B-3
Principal Balance and the Class B-4 Principal Balance as of such Determination
Date.

            Class B-5 Unpaid Interest Shortfall: As to any Distribution Date,
the amount, if any, by which the aggregate of the Class B-5 Interest Shortfall
Amounts for prior Distribution Dates is in excess of the amounts distributed in
respect of the Class B-5 Certificates on prior Distribution Dates pursuant to
Paragraph eighteenth of Section 4.01(a).

            Class B-6 Certificate: Any one of the Certificates executed by the
Paying Agent and countersigned by the Authenticating Agent in substantially the
form set forth in Exhibit B-6 and Exhibit C hereto.

            Class B-6 Certificateholder: The registered holder of a Class B-6
Certificate.

            Class B-6 Distribution Amount: As to any Distribution Date, any
amount distributable to the Holders of the Class B-6 Certificates pursuant to
Paragraphs twentieth, twenty-first and twenty-second of Section 4.01(a).

            Class B-6 Interest Shortfall Amount: As to any Distribution Date,
any amount by which the Interest Accrual Amount of the Class B-6 Certificates
with respect to such Distribution Date exceeds the amount distributed in respect
of the Class B-6 Certificates on such Distribution Date pursuant to Paragraph
twentieth of Section 4.01(a).

            Class B-6 Optimal Principal Amount: As to any Distribution Date, an
amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of
the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and
(y) the sum of:

            (i) the Class B-6 Percentage of the principal portion of the Monthly
      Payment due on the Due Date occurring in the month of such Distribution
      Date on such Mortgage Loan;

            (ii) the Class B-6 Prepayment Percentage of all Unscheduled
      Principal Receipts (other than Recoveries) that were received by a
      Servicer with respect to such Mortgage Loan during the Applicable
      Unscheduled Principal Receipt Period relating to such Distribution Date
      for each applicable type of Unscheduled Principal Receipt;

            (iii) the Class B-6 Prepayment Percentage of the Scheduled Principal
      Balance of such Mortgage Loan which, during the one month period ending on
      the day preceding the Determination Date for such Distribution Date, was
      repurchased by the Depositor pursuant to Section 2.02, 2.03 or 3.08; and

            (iv) the Class B-6 Percentage of the Substitution Principal Amount
      with respect to each Mortgage Loan for which a Mortgage Loan was
      substituted during the one month period ending on the day preceding the
      Determination Date for such Distribution Date, less the amount allocable
      to the principal portion of any unreimbursed Periodic Advances previously
      made by the applicable Servicer, the Master Servicer or the Trustee in
      respect of such Mortgage Loan for which a Mortgage Loan was substituted;
      and

      (II) the Class B-6 Prepayment Percentage of the Non-PO Recovery for such
      Distribution Date;

provided, however, that if an Optimal Adjustment Event occurs with respect to
such Class and such Distribution Date, the Class B-6 Optimal Principal Amount
will equal the lesser of (A) the Class B-6 Optimal Principal Amount calculated
as described in the preceding provisions and (B) the Adjusted Principal Balance
for the Class B-6 Certificates.

            Class B-6 Percentage: As to any Distribution Date, except as set
forth in the next sentence, the percentage calculated by multiplying (i) the
Subordinated Percentage by (ii) a fraction, the numerator of which is the Class
B-6 Principal Balance (determined as of the Determination Date preceding such
Distribution Date) and the denominator of which is the sum of the Principal
Balances of the Classes of Class B Certificates eligible to receive principal
distributions for such Distribution Date in accordance with the provisions of
Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that
the Class B-6 Certificates are not eligible to receive distributions of
principal in accordance with Section 4.01(d)(i), the Class B-6 Percentage for
such Distribution Date will be zero.

            Class B-6 Prepayment Percentage: As to any Distribution Date, except
as set forth in the next sentence, the percentage calculated by multiplying (i)
the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of
which is the Class B-6 Principal Balance (determined as of the Determination
Date preceding such Distribution Date) and the denominator of which is the sum
of the Principal Balances of the Classes of Class B Certificates eligible to
receive principal distributions for such Distribution Date in accordance with
the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii),
in the event that the Class B-6 Certificates are not eligible to receive
distributions of principal in accordance with Section 4.01(d)(i), the Class B-6
Prepayment Percentage for such Distribution Date will be zero.

            Class B-6 Principal Balance: As to the first Determination Date, the
Original Class B-6 Principal Balance. As of any subsequent Determination Date,
for so long as the Class B-6 Certificates are outstanding, the difference, if
any, between the Adjusted Pool Amount (Non-PO Portion) as of the preceding
Distribution Date less the sum of the Class A Non-PO Principal Balance, the
Class B-1 Principal Balance, the Class B-2 Principal Balance, the Class B-3
Principal Balance, the Class B-4 Principal Balance and the Class B-5 Principal
Balance as of such Determination Date.

            Class B-6 Unpaid Interest Shortfall: As to any Distribution Date,
the amount, if any, by which the aggregate of the Class B-6 Interest Shortfall
Amounts for prior Distribution Dates is in excess of the amounts distributed in
respect of the Class B-6 Certificates on prior Distribution Dates pursuant to
Paragraph twenty-first of Section 4.01(a).

            Clearing Agency: An organization registered as a "clearing agency"
pursuant to Section 17A of the Exchange Act. The initial Clearing Agency shall
be The Depository Trust Company.

            Clearing Agency Participant: A broker, dealer, bank, financial
institution or other Person for whom a Clearing Agency effects book-entry
transfers of securities deposited with the Clearing Agency.

            Closing Date: The date of initial issuance of the Certificates, as
set forth in Section 11.20.

            Code: The Internal Revenue Code of 1986, as it may be amended from
time to time, any successor statutes thereto, and applicable U.S. Department of
the Treasury temporary or final regulations promulgated thereunder.

            Combination Group: The Exchangeable Combination and Exchangeable
REMIC Combination as set forth on Exhibit W.

            Commission: The United States Securities and Exchange Commission.

            Compensating Interest: With respect to any Distribution Date, the
least of (a) the aggregate Prepayment Interest Shortfall on the Mortgage Loans
for such Distribution Date, (b) the product of (i) 1/12th of 0.20% and (ii) the
Pool Scheduled Principal Balance for such Distribution Date and (c) the
Available Master Servicing Compensation for such Distribution Date.

            Co-op Shares: Shares issued by private non-profit housing
corporations.

            Corporate Trust Office: With respect to (a) the Trustee, the office
of the Trustee at which at any particular time its duties under this Agreement
shall be administered, which office, at the date of the execution of this
instrument, is located at 452 Fifth Avenue, New York, New York 10018, Attention:
CTLA - Structured Finance, WFMBS 2007-7 and (b) the Paying Agent, Certificate
Registrar and Authenticating Agent, for Certificate transfer purposes at Wells
Fargo Center, Sixth Street and Marquette Avenue, Minneapolis, Minnesota 55479
Attn: Corporate Trust Services--WFMBS 2007-7, and for all other purposes at 9062
Old Annapolis Road, Columbia, Maryland 21045 Attn: Corporate Trust
Services--WFMBS 2007-7.

            Current Class A Interest Distribution Amount: As to any Distribution
Date, the amount distributed in respect of the Classes of Class A Certificates
pursuant to Paragraph first of Section 4.01(a) on such Distribution Date.

            Current Class B Interest Distribution Amount: As to any Distribution
Date, the amount distributed in respect of the Classes of Class B Certificates
pursuant to Paragraphs fifth, eighth, eleventh, fourteenth, seventeenth and
twentieth of Section 4.01(a) on such Distribution Date.

            Current Class B-1 Fractional Interest: As to any Distribution Date
subsequent to the first Distribution Date, the percentage obtained by dividing
the sum of the Principal Balances of the Class B-2, Class B-3, Class B-4, Class
B-5 and Class B-6 Certificates by the Aggregate Non-PO Principal Balance. As to
the first Distribution Date, the Original Class B-1 Fractional Interest.

            Current Class B-2 Fractional Interest: As to any Distribution Date
subsequent to the first Distribution Date, the percentage obtained by dividing
the sum of the Principal Balances of the Class B-3, Class B-4, Class B-5 and
Class B-6 Certificates by the Aggregate Non-PO Principal Balance. As to the
first Distribution Date, the Original Class B-2 Fractional Interest.

            Current Class B-3 Fractional Interest: As to any Distribution Date
subsequent to the first Distribution Date, the percentage obtained by dividing
the sum of the Principal Balances of the Class B-4, Class B-5 and Class B-6
Certificates by the Aggregate Non-PO Principal Balance. As to the first
Distribution Date, the Original Class B-3 Fractional Interest.

            Current Class B-4 Fractional Interest: As to any Distribution Date
subsequent to the first Distribution Date, the percentage obtained by dividing
the sum of the Principal Balances of the Class B-5 and Class B-6 Certificates by
the Aggregate Non-PO Principal Balance. As to the first Distribution Date, the
Original Class B-4 Fractional Interest.

            Current Class B-5 Fractional Interest: As to any Distribution Date
subsequent to the first Distribution Date, the percentage obtained by dividing
the Principal Balance of the Class B-6 Certificates by the Aggregate Non-PO
Principal Balance. As to the first Distribution Date, the Original Class B-5
Fractional Interest.

            Curtailment: Any Principal Prepayment made by a Mortgagor which is
not a Prepayment in Full.

            Curtailment Interest Shortfall: On any Distribution Date with
respect to a Mortgage Loan which was the subject of a Curtailment:

            (A)   in the case where the Applicable Unscheduled Principal Receipt
                  Period is the Mid-Month Receipt Period and such Curtailment is
                  received by the applicable Servicer on or after the
                  Determination Date in the month preceding the month of such
                  Distribution Date but prior to the first day of the month of
                  such Distribution Date, the amount of interest that would have
                  accrued at the Net Mortgage Interest Rate on the amount of
                  such Curtailment from the day of its receipt or, if earlier,
                  its application by such Servicer through the last day of the
                  month preceding the month of such Distribution Date; and

            (B)   in the case where the Applicable Unscheduled Principal Receipt
                  Period is the Prior Month Receipt Period and such Curtailment
                  is received by the applicable Servicer during the month
                  preceding the month of such Distribution Date, the amount of
                  interest that would have accrued at the Net Mortgage Interest
                  Rate on the amount of such Curtailment from the day of its
                  receipt or, if earlier, its application by such Servicer
                  through the last day of the month in which such Curtailment is
                  received.

            CUSIP Number: With respect to each Certificate, the identification
number provided by the CUSIP Service Bureau and appearing on the face of such
Certificate.

            Custodial Agreement: The Custodial Agreement, dated as of May 30,
2007, among the Custodian, the Depositor, the Master Servicer and the Trustee,
which agreement is attached hereto as Exhibit E, as the same may be amended or
modified from time to time in accordance with the terms thereof.

            Custodial P&I Account: The Custodial P&I Account, as defined in each
of the Servicing Agreements, with respect to the Mortgage Loans. In determining
whether the Custodial P&I Account under any Servicing Agreement is "acceptable"
to the Master Servicer (as may be required by the definition of "Eligible
Account" contained in the Servicing Agreements), the Master Servicer shall
require that any such account shall be acceptable to each of the Rating
Agencies.

            Custodian: Wells Fargo Bank, or its successor in interest under the
Custodial Agreement. Initially, the custodial functions shall be performed by
the Corporate Trust Services division of Wells Fargo Bank.

            Cut-Off Date: The first day of the month of initial issuance of the
Certificates as set forth in Section 11.01.

            Cut-Off Date Aggregate Principal Balance: The aggregate of the
Cut-Off Date Principal Balances of the Mortgage Loans as set forth in Section
11.02.

            Cut-Off Date Principal Balance: As to each Mortgage Loan, its unpaid
principal balance as of the close of business on the Cut-Off Date (but without
giving effect to any Unscheduled Principal Receipts received or applied on the
Cut-Off Date), reduced by all payments of principal due on or before the Cut-Off
Date and not paid, and increased by scheduled monthly payments of principal due
after the Cut-Off Date but received by the related Servicer on or before the
Cut-Off Date.

            Debt Service Reduction: With respect to any Mortgage Loan, a
reduction in the scheduled Monthly Payment for such Mortgage Loan by a court of
competent jurisdiction in a proceeding under the Bankruptcy Code, except such a
reduction constituting a Deficient Valuation.

            Deficient Valuation: With respect to any Mortgage Loan, a valuation
by a court of competent jurisdiction of the Mortgaged Property in an amount less
than the then-outstanding indebtedness under the Mortgage Loan, or any reduction
in the amount of principal to be paid in connection with any scheduled Monthly
Payment that results in a permanent forgiveness of principal, which valuation or
reduction results from a proceeding under the Bankruptcy Code.

            Definitive Certificates: As defined in Section 5.01(b).

            Denomination: The amount, if any, specified on the face of each
Certificate representing the principal portion of the Original Principal Balance
or, in the case of a Class of Exchangeable REMIC Certificates or Exchangeable
Certificates, the Maximum Initial Principal Balance or Maximum Initial Notional
Amount, as applicable, evidenced by such Certificate.

            Depositor: Wells Fargo Asset Securities Corporation, or its
successor in interest.

            Determination Date: The 17th day of the month in which the related
Distribution Date occurs, or if such 17th day is not a Business Day, the
Business Day preceding such 17th day.

            Discount Mortgage Loan: A Mortgage Loan with a Net Mortgage Interest
Rate of less than 6.000%.

            Distribution Date: The 25th day of any month, beginning in the month
following the month of initial issuance of the Certificates, or if such 25th day
is not a Business Day, the Business Day following such 25th day.

            Distribution Date Statement: As defined in Section 4.04(a).

            Document Transfer Date: The 60th day following the occurrence of a
Document Transfer Event.

            Document Transfer Event: The occurrence of either of the following:
(i) Wells Fargo Bank is no longer the Servicer of any of the Mortgage Loans or
(ii) the senior, unsecured long-term debt rating of Wells Fargo & Company is
less than "BBB-" by Fitch.

            Due Date: With respect to any Mortgage Loan, the day of the month in
which the Monthly Payment on such Mortgage Loan is scheduled to be paid.

            Eligible Account: One or more accounts (i) that are maintained with
a depository institution (which may be the Master Servicer) whose long-term debt
obligations (or, in the case of a depository institution which is part of a
holding company structure, the long-term debt obligations of such parent holding
company) at the time of deposit therein are rated at least "AA" (or the
equivalent) by each Rating Agency, (ii) the deposits in which are fully insured
by the FDIC through either the Bank Insurance Fund or the Savings Association
Insurance Fund, (iii) the deposits in which are insured by the FDIC through
either the Bank Insurance Fund or the Savings Association Insurance Fund (to the
limit established by the FDIC) and the uninsured deposits in which accounts are
otherwise secured, as evidenced by an Opinion of Counsel delivered to the
Trustee, such that the Trustee, on behalf of the Certificateholders has a claim
with respect to the funds in such accounts or a perfected first security
interest against any collateral securing such funds that is superior to claims
of any other depositors or creditors of the depository institution with which
such accounts are maintained, (iv) that are trust accounts maintained with the
trust department of a federal or state chartered depository institution or trust
company acting in its fiduciary capacity or (v) such other account that is
acceptable to each of the Rating Agencies and would not cause the Trust Estate
to fail to qualify as a REMIC or result in the imposition of any federal tax on
the REMIC.

            Eligible Investments: At any time, any one or more of the following
obligations and securities which shall mature not later than the Business Day
preceding the Distribution Date next succeeding the date of such investment,
provided that such investments continue to qualify as "cash flow investments" as
defined in Code Section 860G(a)(6):

            (i) obligations of the United States of America or any agency
      thereof, provided such obligations are backed by the full faith and credit
      of the United States of America;

            (ii) general obligations of or obligations guaranteed by any state
      of the United States of America or the District of Columbia receiving the
      highest short-term or highest long-term rating of each Rating Agency, or
      such lower rating as would not result in the downgrading or withdrawal of
      the rating then assigned to any of the Certificates by either Rating
      Agency or result in any of such rated Certificates being placed on credit
      review status (other than for possible upgrading) by either Rating Agency;

            (iii) commercial or finance company paper which is then rated in the
      highest long-term commercial or finance company paper rating category of
      each Rating Agency or the highest short-term rating category of each
      Rating Agency, or such lower rating category as would not result in the
      downgrading or withdrawal of the rating then assigned to any of the
      Certificates by either Rating Agency or result in any of such rated
      Certificates being placed on credit review status (other than for possible
      upgrading) by either Rating Agency;

            (iv) certificates of deposit, demand or time deposits, federal funds
      or banker's acceptances issued by any depository institution or trust
      company incorporated under the laws of the United States or of any state
      thereof and subject to supervision and examination by federal and/or state
      banking authorities, provided that the commercial paper and/or debt
      obligations of such depository institution or trust company (or in the
      case of the principal depository institution in a holding company system,
      the commercial paper or debt obligations of such holding company) are then
      rated in the highest short-term or the highest long-term rating category
      for such securities of each of the Rating Agencies, or such lower rating
      categories as would not result in the downgrading or withdrawal of the
      rating then assigned to any of the Certificates by either Rating Agency or
      result in any of such rated Certificates being placed on credit review
      status (other than for possible upgrading) by either Rating Agency;

            (v) guaranteed reinvestment agreements issued by any bank, insurance
      company or other corporation acceptable to each Rating Agency at the time
      of the issuance of such agreements;

            (vi) repurchase agreements on obligations with respect to any
      security described in clauses (i) or (ii) above or any other security
      issued or guaranteed by an agency or instrumentality of the United States
      of America, in either case entered into with a depository institution or
      trust company (acting as principal) described in (iv) above;

            (vii) securities (other than stripped bonds or stripped coupon
      securities) bearing interest or sold at a discount issued by any
      corporation incorporated under the laws of the United States of America or
      any state thereof which, at the time of such investment or contractual
      commitment providing for such investment, are then rated in the highest
      short-term or the highest long-term rating category by each Rating Agency,
      or in such lower rating category as would not result in the downgrading or
      withdrawal of the rating then assigned to any of the Certificates by
      either Rating Agency or result in any of such rated Certificates being
      placed on credit review status (other than for possible upgrading) by
      either Rating Agency;

            (viii) such other investments acceptable to each Rating Agency as
      would not result in the downgrading of the rating then assigned to the
      Certificates by either Rating Agency or result in any of such rated
      Certificates being placed on credit review status (other than for possible
      upgrading) by either Rating Agency; and

            (ix) any mutual fund, money market fund, common trust fund or other
      pooled investment vehicle, the assets of which are limited to instruments
      that otherwise would constitute Eligible Investments hereunder, including
      any such fund that is managed by the Trustee or Master Servicer or any
      affiliate of the Trustee or Master Servicer or for which the Trustee or
      Master Servicer or any of its affiliates acts as an adviser as long as
      such fund is rated in at least the highest rating category by each Rating
      Agency rating such fund.

            In no event shall an instrument be an Eligible Investment if such
instrument evidences either (i) a right to receive only interest payments with
respect to the obligations underlying such instrument, or (ii) both principal
and interest payments derived from obligations underlying such instrument and
the interest and principal payments with respect to such instrument provide a
yield to maturity at the date of investment of greater than 120% of the yield to
maturity at par of such underlying obligations.

            ERISA: The Employee Retirement Income Security Act of 1974, as
amended.

            ERISA Prohibited Holder: As defined in Section 5.02(d).

            Errors and Omissions Policy: As defined in each of the Servicing
Agreements.

            Event of Default: Any of the events specified in Section 7.01.

            Exchange Act: The Securities Exchange Act of 1934, as amended.

            Exchangeable Certificate Grantor Trust Account: The sub-account of
the Certificate Account designated by the Trustee pursuant to Section 4.05.

            Exchangeable Certificates: The Class A-50 and Class A-51
Certificates.

            Exchangeable Classes: The Classes of Exchangeable Certificates.

            Exchangeable Combination: The Class A-50 and Class A-51
Certificates.

            Exchangeable REMIC Certificates: The Class A-9 Certificates.

            Exchangeable REMIC Class: The Class of Exchangeable REMIC
Certificates.

            Exchangeable REMIC Combination: The Class A-9 Certificates.

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

            Fidelity Bond: As defined in each of the Servicing Agreements.

            Final Distribution Date: The Distribution Date on which the final
distribution in respect of the Certificates is made pursuant to Section 9.01.

            Final Scheduled Maturity Date: The Final Scheduled Maturity Date for
each Class of Class A Certificates and Class B Certificates is June 25, 2037,
which corresponds to the "latest possible maturity date" for purposes of Section
860G(a)(1) of the Internal Revenue Code of 1986, as amended.

            Fitch: Fitch Ratings, or its successor in interest.

            Fixed Retained Yield: The fixed percentage of interest on each
Mortgage Loan with a Mortgage Interest Rate greater than the sum of (a) 6.000%,
(b) the applicable Servicing Fee Rate and (c) the Master Servicing Fee Rate,
which will be determined on a loan by loan basis and will equal the Mortgage
Interest Rate on each Mortgage Loan minus the sum of the rates described in
clauses (a), (b) and (c), which is not assigned to and not part of the Trust
Estate.

            Fixed Retained Yield Rate: With respect to each Mortgage Loan, a per
annum rate equal to the greater of (a) zero and (b) the Mortgage Interest Rate
on such Mortgage Loan minus, the sum of (a) 6.000%, (b) the applicable Servicing
Fee Rate and (c) the Master Servicing Fee Rate.

            Form 8-K: A Current Report on Form 8-K under the Exchange Act.

            Form 8-K Disclosure Information: As defined in Section 3.12(c).

            Form 10-D: An Asset-Backed Issuer Distribution Report on Form 10-D
under the Exchange Act.

            Form 10-K: An Annual Report on Form 10-K under the Exchange Act.

            Form 15: A Form 15 Suspension Notification under the Exchange Act.

            Full Unscheduled Principal Receipt: Any Unscheduled Principal
Receipt with respect to a Mortgage Loan (i) in the amount of the outstanding
principal balance of such Mortgage Loan and resulting in the full satisfaction
of such Mortgage Loan or (ii) representing Liquidation Proceeds other than
Partial Liquidation Proceeds.

            Grantor Trust: That portion of the Trust exclusive of the REMIC
consisting of any interests in the Exchangeable REMIC Certificates beneficially
owned in the form of Exchangeable Certificates and rights with respect thereto.

            Holder: See "Certificateholder."

            Independent: When used with respect to any specified Person, such
Person who (i) is in fact independent of the Depositor, the Master Servicer and
any Servicer, (ii) does not have any direct financial interest or any material
indirect financial interest in the Depositor or the Master Servicer or any
Servicer or in an affiliate of either and (iii) is not connected with the
Depositor, the Master Servicer or any Servicer as an officer, employee,
promoter, underwriter, trustee, partner, director or person performing similar
functions.

            Insurance Policy: Any insurance or performance bond relating to a
Mortgage Loan or the Mortgage Loans, including any hazard insurance, special
hazard insurance, flood insurance, primary mortgage insurance, mortgagor
bankruptcy bond or title insurance.

            Insurance Proceeds: Proceeds paid by any insurer pursuant to any
Insurance Policy covering a Mortgage Loan.

            Insured Expenses: Expenses covered by any Insurance Policy covering
a Mortgage Loan.

            Interest Accrual Amount: As to any Distribution Date and any Class
of Class A Certificates (other than the Classes of Principal Only Certificates
and Exchangeable Certificates), (i) the product of (a) 1/12th of the Class A
Pass-Through Rate for such Class and (b) the Principal Balance of such Class as
of the Determination Date immediately preceding such Distribution Date minus
(ii) the sum of (A) the Class A Interest Percentage of such Class of the
interest portion of any Realized Losses on the Mortgage Loans on or after the
Subordination Depletion Date pursuant to Section 4.02(c) and (B) the Class A
Interest Percentage of such Class of any Non-Supported Interest Shortfall or
Relief Act Shortfall allocated to the Class A Certificates with respect to such
Distribution Date. The Principal Only Certificates and Exchangeable Certificates
have no Interest Accrual Amount.

            As to any Distribution Date and any Class of Class B Certificates,
an amount equal to (i) the product of 1/12th of the Class B Pass-Through Rate
and the Principal Balance of such Class as of the Determination Date preceding
such Distribution Date minus (ii) the Class B Interest Percentage of such Class
of the sum of any Non-Supported Interest Shortfall and any Relief Act Shortfall
allocated to the Class B Certificates with respect to such Distribution Date.

            Letter of Credit: As defined in the Wells Fargo Bank Servicing
Agreement.

            LIBOR: As to any Distribution Date, the arithmetic mean of the
London Interbank offered rate quotations for one month U.S. dollar deposits, as
determined by the Paying Agent on the related Rate Determination Date in
accordance with Section 4.07.

            LIBOR Business Day: Any Business Day on which banks are open for
dealing in foreign currency and exchange in London, England and the City of New
York.

            LIBOR Certificates: Any of the Class A-8, Class A-9, Class A-43 or
Class A-51 Certificates.

            Liquidated Loan: A Mortgage Loan with respect to which the related
Mortgaged Property has been acquired, liquidated or foreclosed and with respect
to which the applicable Servicer determines that all Liquidation Proceeds which
it expects to recover have been recovered.

            Liquidated Loan Loss: With respect to any Distribution Date, the
aggregate of the amount of losses with respect to each Mortgage Loan which
became a Liquidated Loan during the Applicable Unscheduled Principal Receipt
Period with respect to Full Unscheduled Principal Receipts for such Distribution
Date, equal to the excess of (i) the unpaid principal balance of each such
Liquidated Loan, plus accrued interest thereon in accordance with the
amortization schedule at the time applicable thereto at the applicable Net
Mortgage Interest Rate from the Due Date as to which interest was last paid with
respect thereto through the last day of the month preceding the month in which
such Distribution Date occurs, over (ii) Net Liquidation Proceeds with respect
to such Liquidated Loan.

            Liquidation Expenses: Expenses incurred by a Servicer in connection
with the liquidation of any defaulted Mortgage Loan or property acquired in
respect thereof (including, without limitation, legal fees and expenses,
committee or referee fees, and, if applicable, brokerage commissions and
conveyance taxes), any unreimbursed advances (including Periodic Advances)
expended by such Servicer pursuant to its Servicing Agreement or the Master
Servicer or Trustee pursuant hereto respecting the related Mortgage Loan,
including any unreimbursed advances for real property taxes or for property
restoration or preservation of the related Mortgaged Property. Liquidation
Expenses shall not include any previously incurred expenses in respect of an REO
Mortgage Loan which have been netted against related REO Proceeds.

            Liquidation Proceeds: Amounts received by a Servicer (including
Insurance Proceeds) or PMI Advances made by a Servicer in connection with the
liquidation of defaulted Mortgage Loans or property acquired in respect thereof,
whether through foreclosure, sale or otherwise, including payments in connection
with such Mortgage Loans received from the Mortgagor, other than amounts
required to be paid to the Mortgagor pursuant to the terms of the applicable
Mortgage or to be applied otherwise pursuant to law.

            Liquidation Profits: As to any Distribution Date and any Mortgage
Loan that became a Liquidated Loan during the Applicable Unscheduled Principal
Receipt Period with respect to Full Unscheduled Principal Receipts for such
Distribution Date, the excess, if any, of (i) Net Liquidation Proceeds in
respect of such Liquidated Loan over (ii) the unpaid principal balance of such
Liquidated Loan plus accrued interest thereon in accordance with the
amortization schedule at the time applicable thereto at the applicable Net
Mortgage Interest Rate from the Due Date to which interest was last paid with
respect thereto through the last day of the month preceding the month in which
such Distribution Date occurs.

            Loan-to-Value Ratio: The ratio, expressed as a percentage, the
numerator of which is the principal balance of a particular Mortgage Loan at
origination and the denominator of which is the lesser of (x) the appraised
value of the related Mortgaged Property determined in the appraisal used by the
originator at the time of origination of such Mortgage Loan, and (y) if the
Mortgage is originated in connection with a sale of the Mortgaged Property, the
sale price for such Mortgaged Property.

            Master Servicer: Wells Fargo Bank, or its successor in interest.
Initially, the Master Servicer functions shall be performed by the Corporate
Trust Services division of Wells Fargo Bank.

            Master Servicer Errors and Omissions Policy: An insurance policy
covering losses caused by errors or omissions of the Master Servicer and its
personnel.

            Master Servicing Fee: With respect to any Mortgage Loan and any
Distribution Date, the fee payable monthly to the Master Servicer pursuant to
Section 6.05 equal to the Master Servicing Fee Rate of the unpaid principal
balance of such Mortgage Loan.

            Master Servicing Fee Rate: As set forth in Section 11.24.

            Master Servicing Officer: Any officer of the Master Servicer
involved in, or responsible for, the administration and master servicing of the
Mortgage Loans.

            Maximum Initial Notional Amount: As to the related Class of
Exchangeable Certificates, the Original Notional Amount for such Class set forth
in Section 11.04.

            Maximum Initial Principal Balance: As to each Class of Exchangeable
REMIC Certificates and Exchangeable Certificates, the Original Principal Balance
for such Class set forth in Section 11.05.

            Maximum Principal Balance: As of any Determination Date and Class of
Exchangeable Certificates, the portion of the Maximum Initial Principal Balance
that would be outstanding on any date assuming all Related Exchangeable REMIC
Certificates had been exchanged on the Closing Date.

            Maximum Notional Amount: As of any Determination Date and the
related Class of Exchangeable Certificates, the portion of the Maximum Initial
Notional Amount that would be outstanding on any date assuming all Related
Exchangeable REMIC Certificates had been exchanged on the Closing Date.

            MERS: The Mortgage Electronic Registration Systems, Inc.

            MERS Mortgage Loan: Any MOM Mortgage Loan or any other Mortgage Loan
as to which MERS is (or is intended to be) the mortgagee of record and as to
which a MIN has been assigned.

            Mid-Month Receipt Period: With respect to each Distribution Date,
the one month period beginning on the Determination Date (or, in the case of the
first Distribution Date, from and including the Cut-Off Date) occurring in the
calendar month preceding the month in which such Distribution Date occurs and
ending on the day preceding the Determination Date immediately preceding such
Distribution Date.

            MIN: A MERS Mortgage Identification Number assigned to a Mortgage
Loan registered under MERS.

            MOM: A Mortgage Loan where the related Mortgage names MERS as the
original mortgagee thereof, as to which a MIN has been assigned, and which
Mortgage has not been assigned to any other person.

            Month End Interest: As defined in each Servicing Agreement.

            Monthly Payment: As to any Mortgage Loan (including any REO Mortgage
Loan) and any Due Date, the payment of principal and interest due thereon in
accordance with the amortization schedule at the time applicable thereto (after
adjustment for any Curtailments and Deficient Valuations occurring prior to such
Due Date but before any adjustment to such amortization schedule, other than for
Deficient Valuations, by reason of any bankruptcy or similar proceeding or any
moratorium or similar waiver or grace period).

            Moody's: Moody's Investors Service, Inc. or its successor in
interest.

            Mortgage: The mortgage, deed of trust or other instrument creating a
first lien on Mortgaged Property securing a Mortgage Note together with any
Mortgage Loan Rider, if applicable.

            Mortgage Interest Rate: As to any Mortgage Loan, the per annum rate
at which interest accrues on the unpaid principal balance thereof as set forth
in the related Mortgage Note, which rate is as indicated on the Mortgage Loan
Schedule.

            Mortgage Loan Purchase Agreement: The mortgage loan purchase
agreement dated as of May 30, 2007 between Wells Fargo Bank, as seller, and the
Depositor, as purchaser.

            Mortgage Loan Rider: The standard Fannie Mae/Freddie Mac riders to
the Mortgage Note and/or Mortgage riders required when the Mortgaged Property is
a condominium unit or a unit in a planned unit development.

            Mortgage Loan Schedule: The list delivered by the Depositor to the
Trustee, the Master Servicer and the Custodian of the Mortgage Loans transferred
to the Trustee on the Closing Date as part of the Trust Estate, which list may
be amended following the Closing Date upon conveyance of a Substitute Mortgage
Loan pursuant to Section 2.02 or 2.03 and which list shall set forth at a
minimum the following information as of the close of business on the Cut-Off
Date (or, with respect to Substitute Mortgage Loans, as of the close of business
on the day of substitution) as to each Mortgage Loan:

            (i)    the Mortgage Loan identifying number;

            (ii)   the city, state and zip code of the Mortgaged Property;

            (iii)  the type of property;

            (iv)   the Mortgage Interest Rate;

            (v)    the Net Mortgage Interest Rate;

            (vi)   the Monthly Payment;

            (vii)  the original number of months to maturity;

            (viii) the scheduled maturity date;

            (ix)   the Cut-Off Date Principal Balance;

            (x)    the Loan-to-Value Ratio at origination;

            (xi)   whether such Mortgage Loan is a Subsidy Loan;

            (xii)  whether such Mortgage Loan is covered by primary mortgage
                   insurance;

            (xiii) the applicable Servicing Fee Rate;

            (xiv)  the Master Servicing Fee Rate;

            (xv)   the Fixed Retained Yield Rate, if applicable;

            (xvi)  in the case of any Mortgage Loan initially serviced by Wells
                   Fargo Bank, whether such Mortgage Loan is a Type 1 Mortgage
                   Loan or a Type 2 Mortgage Loan; and

            (xvii) the name of the Servicer.

            Such schedule may consist of multiple reports that collectively set
forth all of the information required.

            Mortgage Loans: Each of the mortgage loans transferred and assigned
to the Trustee on the Closing Date pursuant to Section 2.01(a) and any mortgage
loans substituted therefor pursuant to Section 2.02 or 2.03, in each case as
from time to time are included in the Trust Estate as identified in the Mortgage
Loan Schedule.

            Mortgage Note: The note or other evidence of indebtedness evidencing
the indebtedness of a Mortgagor under a Mortgage Loan together with any related
Mortgage Loan Riders, if applicable.

            Mortgaged Property: The property subject to a Mortgage, which may
include Co-op Shares or residential long-term leases.

            Mortgagor: The obligor on a Mortgage Note.

            Net Liquidation Proceeds: As to any defaulted Mortgage Loan,
Liquidation Proceeds net of Liquidation Expenses.

            Net Mortgage Interest Rate: With respect to each Mortgage Loan, a
rate equal to (i) the Mortgage Interest Rate on such Mortgage Loan minus (ii)
the sum of (a) the applicable Servicing Fee Rate, as set forth in Section 11.23
with respect to such Mortgage Loan, (b) the Master Servicing Fee Rate, as set
forth in Section 11.24 with respect to such Mortgage Loan and (c) the Fixed
Retained Yield Rate, if any, with respect to such Mortgage Loan. Any regular
monthly computation of interest at such rate shall be based upon annual interest
at such rate on the applicable amount divided by twelve.

            Net REO Proceeds: As to any REO Mortgage Loan, REO Proceeds net of
any related expenses of the applicable Servicer.

            Non-permitted Foreign Holder: As defined in Section 5.02(d).

            Non-PO Fraction: With respect to any Mortgage Loan, the lesser of
(i) 1.00 and (ii) the quotient obtained by dividing the Net Mortgage Interest
Rate for such Mortgage Loan by 6.000%.

            Non-PO Recovery: As to any Distribution Date, the amount of all
Recoveries received during the Applicable Unscheduled Principal Receipt Periods
for such Distribution Date less the Class A-PO Recovery for such Distribution
Date.

            Nonrecoverable Advance: Any portion of a Periodic Advance previously
made or proposed to be made in respect of a Mortgage Loan which has not been
previously reimbursed to the applicable Servicer, the Master Servicer or the
Trustee, as the case may be, and which the applicable Servicer, the Master
Servicer or the Trustee determines will not, or in the case of a proposed
Periodic Advance would not, be ultimately recoverable from Liquidation Proceeds
or other recoveries in respect of the related Mortgage Loan. The determination
by the applicable Servicer, the Master Servicer or the Trustee (i) that it has
made a Nonrecoverable Advance or (ii) that any proposed Periodic Advance, if
made, would constitute a Nonrecoverable Advance, shall be evidenced by an
Officer's Certificate of such Servicer delivered to the Master Servicer for
redelivery to the Trustee or, in the case of a Master Servicer determination, an
Officer's Certificate of the Master Servicer delivered to the Trustee, in each
case detailing the reasons for such determination.

            Non-Supported Interest Shortfall: With respect to any Distribution
Date, the sum of (i) the excess, if any, of the aggregate Prepayment Interest
Shortfall on the Mortgage Loans over the aggregate Compensating Interest with
respect to such Distribution Date and (ii) Curtailment Interest Shortfalls with
respect to such Distribution Date. With respect to each Distribution Date
occurring on or after the Subordination Depletion Date, the Non-Supported
Interest Shortfall determined pursuant to the preceding sentence will be
increased by the amount of any Subordination Depletion Date Interest Shortfall
for such Distribution Date. Any Non-Supported Interest Shortfall will be
allocated to (a) the Class A Certificates (other than the Class A-PO and
Exchangeable Certificates) according to the percentage obtained by dividing the
Class A Non-PO Principal Balance by the Aggregate Non-PO Principal Balance and
(b) the Class B Certificates according to the percentage obtained by dividing
the Class B Principal Balance by the Aggregate Non-PO Principal Balance.

            Non-U.S. Person: As defined in Section 4.01(f).

            NYCEMA: A New York Consolidation, Extension and Modification
Agreement.

            Officer's Certificate: With respect to any Person, a certificate
signed by the Chairman of the Board, the President or a Vice President, and by
the Treasurer, the Secretary or one of the Assistant Treasurers, Assistant
Secretaries or any other duly authorized officer of such Person (or, in the case
of a Person which is not a corporation, signed by the person or persons having
like responsibilities).

            Opinion of Counsel: A written opinion of counsel, who may be outside
or salaried counsel for the Depositor, a Servicer or the Master Servicer, or any
affiliate of the Depositor, a Servicer or the Master Servicer, acceptable to the
Trustee if such opinion is to be delivered to the Trustee; provided, however,
that with respect to REMIC matters, matters relating to the determination of
Eligible Accounts or matters relating to transfers of Certificates, such counsel
shall be Independent.

            Optimal Adjustment Event: With respect to any Class of Class B
Certificates and any Distribution Date, an Optimal Adjustment Event will occur
with respect to such Class if: (i) the Principal Balance of such Class on the
Determination Date succeeding such Distribution Date would have been reduced to
zero (regardless of whether such Principal Balance was reduced to zero as a
result of principal distribution or the allocation of Realized Losses) and (ii)
(a) the Principal Balance of any Class of Class A Non-PO Certificates would be
subject to further reduction as a result of the third sentence of the definition
of Principal Balance or (b) the Principal Balance of a Class of Class B
Certificates with a lower numerical designation would be reduced with respect to
such Distribution Date as a result of the application of the proviso in the
definition of Class B-1 Principal Balance, Class B-2 Principal Balance, Class
B-3 Principal Balance, Class B-4 Principal Balance, Class B-5 Principal Balance
or Class B-6 Principal Balance.

            Original Aggregate Non-PO Principal Balance: The Aggregate Non-PO
Principal Balance as of the Cut-Off Date, as set forth in Section 11.06.

            Original Class A Percentage: The Class A Percentage as of the
Cut-Off Date as set forth in Section 11.03.

            Original Class B Principal Balance: The sum of the Original Class
B-1 Principal Balance, the Original Class B-2 Principal Balance, the Original
Class B-3 Principal Balance, the Original Class B-4 Principal Balance, the
Original Class B-5 Principal Balance and the Original Class B-6 Principal
Balance, as set forth in Section 11.07.

            Original Class B-1 Fractional Interest: As to the first Distribution
Date, the percentage obtained by dividing the sum of the Original Class B-2
Principal Balance, the Original Class B-3 Principal Balance, the Original Class
B-4 Principal Balance, the Original Class B-5 Principal Balance and the Original
Class B-6 Principal Balance by the Original Aggregate Non-PO Principal Balance.
The Original Class B-1 Fractional Interest is specified in Section 11.09.

            Original Class B-2 Fractional Interest: As to the first Distribution
Date, the percentage obtained by dividing the sum of the Original Class B-3
Principal Balance, the Original Class B-4 Principal Balance, the Original Class
B-5 Principal Balance and the Original Class B-6 Principal Balance by the
Original Aggregate Non-PO Principal Balance. The Original Class B-2 Fractional
Interest is specified in Section 11.10.

            Original Class B-3 Fractional Interest: As to the first Distribution
Date, the percentage obtained by dividing the sum of the Original Class B-4
Principal Balance, the Original Class B-5 Principal Balance and the Original
Class B-6 Principal Balance by the Original Aggregate Non-PO Principal Balance.
The Original Class B-3 Fractional Interest is specified in Section 11.11.

            Original Class B-4 Fractional Interest: As to the first Distribution
Date, the percentage obtained by dividing the sum of the Original Class B-5
Principal Balance and the Original Class B-6 Principal Balance by the Original
Aggregate Non-PO Principal Balance. The Original Class B-4 Fractional Interest
is specified in Section 11.12.

            Original Class B-5 Fractional Interest: As to the first Distribution
Date, the percentage obtained by dividing the Original Class B-6 Principal
Balance by the Original Aggregate Non-PO Principal Balance. The Original Class
B-5 Fractional Interest is specified in Section 11.13.

            Original Class B-1 Percentage: The Class B-1 Percentage as of the
Cut-Off Date, as set forth in Section 11.14.

            Original Class B-2 Percentage: The Class B-2 Percentage as of the
Cut-Off Date, as set forth in Section 11.15.

            Original Class B-3 Percentage: The Class B-3 Percentage as of the
Cut-Off Date, as set forth in Section 11.16.

            Original Class B-4 Percentage: The Class B-4 Percentage as of the
Cut-Off Date, as set forth in Section 11.17.

            Original Class B-5 Percentage: The Class B-5 Percentage as of the
Cut-Off Date, as set forth in Section 11.18.

            Original Class B-6 Percentage: The Class B-6 Percentage as of the
Cut-Off Date, as set forth in Section 11.19.

            Original Class B-1 Principal Balance: The Class B-1 Principal
Balance as of the Cut-Off Date, as set forth in Section 11.08.

            Original Class B-2 Principal Balance: The Class B-2 Principal
Balance as of the Cut-Off Date, as set forth in Section 11.08.

            Original Class B-3 Principal Balance: The Class B-3 Principal
Balance as of the Cut-Off Date, as set forth in Section 11.08.

            Original Class B-4 Principal Balance: The Class B-4 Principal
Balance as of the Cut-Off Date, as set forth in Section 11.08.

            Original Class B-5 Principal Balance: The Class B-5 Principal
Balance as of the Cut-Off Date, as set forth in Section 11.08.

            Original Class B-6 Principal Balance: The Class B-6 Principal
Balance as of the Cut-Off Date, as set forth in Section 11.08.

            Original Principal Balance: Any of the Original Principal Balances
of the Classes of Class A Certificates as set forth in Section 11.05; the
Original Class B-1 Principal Balance, Original Class B-2 Principal Balance,
Original Class B-3 Principal Balance, Original Class B-4 Principal Balance,
Original Class B-5 Principal Balance or Original Class B-6 Principal Balance as
set forth in Section 11.08.

            Other Servicer: Any of the Servicers other than Wells Fargo Bank.

            Other Servicer Mortgage Loan: Any of the Mortgage Loans, if any,
identified on the Mortgage Loan Schedule as serviced by an Other Servicer, as
such Mortgage Loan Schedule may be amended from time to time in connection with
a substitution pursuant to Section 2.02 or 2.03, which Mortgage Loan is serviced
under an Other Servicing Agreement.

            Other Servicing Agreements: The Servicing Agreements other than the
Wells Fargo Bank Servicing Agreement.

            Outstanding Certificate: Any Outstanding Exchangeable Certificate or
Outstanding Exchangeable REMIC Certificate.

            Outstanding Exchangeable Certificate: Any Exchangeable Certificate
issued hereunder; provided, however, that upon the exchange of any Exchangeable
Certificate pursuant to Section 5.04 hereof, the Exchangeable Certificate so
exchanged shall be deemed no longer to be an Outstanding Exchangeable
Certificate, and each Exchangeable REMIC Certificate issued in exchange therefor
shall be deemed to be an Outstanding Exchangeable REMIC Certificate.

            Outstanding Exchangeable REMIC Certificate: Any Exchangeable REMIC
Certificate issued hereunder; provided, however, that upon the exchange of any
Exchangeable REMIC Certificate pursuant to Section 5.04 hereof, the Exchangeable
REMIC Certificate so exchanged shall be deemed no longer to be an Outstanding
Exchangeable REMIC Certificate, and the Exchangeable Certificate issued in
exchange therefor shall be deemed to be an Outstanding Exchangeable Certificate.

            Outstanding Mortgage Loan: As to any Due Date, a Mortgage Loan
(including an REO Mortgage Loan) which was not the subject of a Full Unscheduled
Principal Receipt prior to such Due Date and which was not repurchased by the
Depositor prior to such Due Date pursuant to Section 2.02, 2.03 or 3.08.

            Owner Mortgage Loan File: A file maintained by the Custodian for
each Mortgage Loan that contains the documents specified in Section 2.01(a) and
any additional documents required to be added to the Owner Mortgage Loan File
pursuant to this Agreement.

            PAC Certificates: The Class A-5, Class A-6 and Class A-7
Certificates.

            PAC Group: The Class A-5, Class A-6 and Class A-7 Certificates.

            PAC Principal Amount: As defined in Section 4.01(b).

            Partial Liquidation Proceeds: Liquidation Proceeds received by a
Servicer prior to the Unscheduled Principal Receipt Period in which the related
Mortgage Loan became a Liquidated Loan.

            Partial Unscheduled Principal Receipt: An Unscheduled Principal
Receipt which is not a Full Unscheduled Principal Receipt.

            Paying Agent: The Person authorized to make distributions to
Certificateholders with respect to the Certificates and to forward to
Certificateholders the periodic and annual statements required by Section 4.04.
The Paying Agent may be the Trustee. The initial Paying Agent is appointed in
Section 4.03(b).

            Paying Agent Agreement: As defined in Section 4.03(b).

            Payment Account: The account maintained pursuant to Section 4.03(a).

            Percentage Interest: With respect to a Class A Certificate of a
Class, the undivided percentage interest obtained by dividing the Denomination
of such Certificate by the Original Principal Balance of such Class of Class A
Certificates (or the Maximum Initial Principal Balance or Maximum Initial
Notional Amount in the case of a Class of Exchangeable REMIC Certificates or
Exchangeable Certificates). With respect to a Class B Certificate of a Class,
the undivided percentage interest obtained by dividing the Denomination of such
Certificate by the Original Principal Balance of such Class of Class B
Certificates. Notwithstanding the foregoing, for purposes of making actual
distributions of principal or interest, allocating losses or allocating Voting
Interest among the Outstanding Exchangeable REMIC Certificates or Outstanding
Exchangeable Certificates of a Class, the Percentage Interest refers to each
Outstanding Certificate's proportionate share of such actual distributions,
Realized Losses or Voting Interests based on the proportion that such
Certificate's Percentage Interest, as defined in the first two sentences bears
to the aggregate Percentage Interest as defined in the first two sentences of
all the Outstanding Exchangeable REMIC Certificates or Outstanding Exchangeable
Certificates of such Class.

            Periodic Advance: The aggregate of the advances required to be made
by a Servicer on any Remittance Date pursuant to its Servicing Agreement or by
the Master Servicer or the Trustee hereunder on any Distribution Date, the
amount of any such advances being equal to the total of all Monthly Payments
(adjusted, in each case (i) in respect of interest, to the applicable Mortgage
Interest Rate less the applicable Servicing Fee in the case of Periodic Advances
made by a Servicer and to the applicable Net Mortgage Interest Rate in the case
of Periodic Advances made by the Master Servicer or Trustee and (ii) by the
amount of any related Debt Service Reductions or reductions in the amount of
interest collectable from the Mortgagor pursuant to the Servicemembers Civil
Relief Act, as it may be amended from time to time, or similar legislation or
regulations then in effect) on the Mortgage Loans, that (x) were delinquent as
of the close of business on the related Determination Date, (y) were not the
subject of a previous Periodic Advance by such Servicer or of a Periodic Advance
by the Master Servicer or the Trustee, as the case may be and (z) have not been
determined by the Master Servicer, such Servicer or Trustee to be Nonrecoverable
Advances. For purposes of the preceding sentence, the Monthly Payment on each
Balloon Loan with a delinquent Balloon Payment is equal to the assumed monthly
payment that would have been due on the related Due Date based on the original
principal amortization schedule for such Balloon Loan.

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

            Plan: As defined in Section 5.02(c).

            Pledge Holder: As defined in the Wells Fargo Bank Servicing
Agreement.

            Pledged Asset Mortgage Loans: The Mortgage Loans listed on Exhibit Q
for which Letters of Credit have been issued.

            PMI Advance: As defined in the related Servicing Agreement, if
applicable.

            PO Fraction: With respect to any Discount Mortgage Loan, the
difference between 1.0 and the Non-PO Fraction for such Mortgage Loan; with
respect to any other Mortgage Loan, zero.

            Pool Balance (Non-PO Portion): As of any Distribution Date, the sum
of the amounts for each Mortgage Loan that is an Outstanding Mortgage Loan of
the product of (i) the Non-PO Fraction for such Mortgage Loan and (ii) the
Scheduled Principal Balance of such Mortgage Loan.

            Pool Balance (PO Portion): As of any Distribution Date, the sum of
the amounts for each Mortgage Loan that is an Outstanding Mortgage Loan of the
product of (i) the PO Fraction for such Mortgage Loan and (ii) the Scheduled
Principal Balance of such Mortgage Loan.

            Pool Distribution Amount: As of any Distribution Date, the funds
eligible for distribution to the Class A Certificates and Class B Certificates
on such Distribution Date, which shall be the sum of (i) all previously
undistributed payments or other receipts on account of principal and interest on
or in respect of the Mortgage Loans (including, without limitation, the proceeds
of any repurchase of a Mortgage Loan by the Depositor and any Substitution
Principal Amount) received by the Master Servicer with respect to the applicable
Remittance Date in the month of such Distribution Date and any Unscheduled
Principal Receipts received by the Master Servicer on or prior to the Business
Day preceding such Distribution Date, (ii) all Periodic Advances made by a
Servicer pursuant to the related Servicing Agreement or Periodic Advances made
by the Master Servicer or the Trustee pursuant to Section 3.03, (iii) any
remaining Reimbursement Amount as provided in Section 4.01(a) and (iv) all other
amounts (including any Insurance Proceeds and Compensating Interest) required to
be placed in the Certificate Account by the Servicers on or before the
applicable Remittance Date or by the Master Servicer or the Trustee on or prior
to the Distribution Date, but excluding the following:

                  (a) amounts received as late payments of principal or interest
      and respecting which the Master Servicer or the Trustee has made one or
      more unreimbursed Periodic Advances;

                  (b) the portion of Liquidation Proceeds used to reimburse any
      unreimbursed Periodic Advances by the Master Servicer or the Trustee;

                  (c) that portion of each payment of interest on a particular
      Mortgage Loan which represents (i) the Fixed Retained Yield, if any, (ii)
      the applicable Servicing Fee and (iii) the Master Servicing Fee;

                  (d) all amounts representing scheduled payments of principal
      and interest due after the Due Date occurring in the month in which such
      Distribution Date occurs;

                  (e) all Unscheduled Principal Receipts received by the
      Servicers after the Applicable Unscheduled Principal Receipt Period
      relating to the Distribution Date for the applicable type of Unscheduled
      Principal Receipt, and all related payments of interest on such amounts;

                  (f) all repurchase proceeds with respect to Mortgage Loans
      repurchased by the Depositor pursuant to Section 2.02, 2.03 or 3.08 on or
      following the Determination Date in the month in which such Distribution
      Date occurs and the Substitution Principal Amounts with respect to any
      Mortgage Loans for which Mortgage Loans were substituted on or following
      the Determination Date in the month in which such Distribution Date
      occurs;

                  (g) that portion of Liquidation Proceeds and REO Proceeds
      which represents any unpaid Servicing Fee or Master Servicing Fee;

                  (h) all income from Eligible Investments that is held in the
      Certificate Account for the account of the Master Servicer;

                  (i) Liquidation Profits;

                  (j) Month End Interest;

                  (k) all amounts reimbursable to a Servicer for PMI Advances;
      and

                  (l) all other amounts permitted to be withdrawn from the
      Certificate Account, to the extent not covered by clauses (a) through (k)
      above, or not required to be deposited in the Certificate Account under
      this Agreement.

            Pool Scheduled Principal Balance: As to any Distribution Date, the
aggregate Scheduled Principal Balance of all Mortgage Loans that were
Outstanding Mortgage Loans on the Due Date in the month preceding the month of
such Distribution Date.

            Premium Mortgage Loan: A Mortgage Loan with a Net Mortgage Interest
Rate equal to or greater than 6.000%.

            Prepayment In Full: With respect to any Mortgage Loan, a Mortgagor
payment consisting of a Principal Prepayment in the amount of the outstanding
principal balance of such loan and resulting in the full satisfaction of such
obligation.

            Prepayment Interest Shortfall: On any Distribution Date, the amount
of interest, if any, that would have accrued on any Mortgage Loan which was the
subject of a Prepayment in Full at the Net Mortgage Interest Rate for such
Mortgage Loan from the date of its Prepayment in Full (but in the case of a
Prepayment in Full where the Applicable Unscheduled Principal Receipt Period is
the Mid-Month Receipt Period, only if the date of the Prepayment in Full is on
or after the Determination Date in the month prior to the month of such
Distribution Date and prior to the first day of the month of such Distribution
Date) through the last day of the month prior to the month of such Distribution
Date.

            Principal Adjustment: In the event that the Class B-1 Optimal
Principal Amount, Class B-2 Optimal Principal Amount, Class B-3 Optimal
Principal Amount, Class B-4 Optimal Principal Amount, Class B-5 Optimal
Principal Amount or Class B-6 Optimal Principal Amount is calculated in
accordance with the proviso in such definition with respect to any Distribution
Date, the Principal Adjustment for such Class of Class B Certificates shall
equal the difference between (i) the amount that would have been distributed to
such Class as principal in accordance with Section 4.01(a) for such Distribution
Date, calculated without regard to such proviso and assuming there are no
Principal Adjustments for such Distribution Date and (ii) the Adjusted Principal
Balance for such Class.

            Principal Balance: As of the first Determination Date and as to any
Class of Class A Certificates (other than a Class of Exchangeable Certificates),
the Original Principal Balance or, in the case of the Class of Exchangeable
REMIC Certificates, the Maximum Initial Principal Balance of such Class. As of
any subsequent Determination Date prior to the Subordination Depletion Date and
as to any Class of Class A Non-PO Certificates, the Original Principal Balance
or, in the case of the Class of Exchangeable REMIC Certificates, the Maximum
Initial Principal Balance of such Class less the sum of all amounts previously
distributed in respect of such Class on prior Distribution Dates (i) pursuant to
Paragraph third clause (1) of Section 4.01(a) and (ii) as a result of a
Principal Adjustment. After the Subordination Depletion Date, each such
Principal Balance of a Class of Class A Non-PO Certificates will also be reduced
(if clause (a) is greater than clause (b)) or increased (if clause (a) is less
than clause (b)) on each Determination Date by an amount equal to the product of
the Class A Loss Percentage of such Class and the difference, if any, between
(a) the Class A Non-PO Principal Balance as of such Determination Date without
regard to this sentence and (b) the Adjusted Pool Amount (Non-PO Portion) for
the preceding Distribution Date; provided, however, that the amount of any such
reduction for the Class A-2 Certificates will be decreased by the Class A-37
Loss Allocation Amount, the amount of any such reduction for the Class A-5
Certificates will be decreased by the Class A-41 Loss Allocation Amount, the
amount of any such reduction for the Class A-6 Certificates will be decreased by
the Class A-45 Loss Allocation Amount, the amount of any such reduction for the
Class A-7 Certificates will be decreased by the Class A-46 Loss Allocation
Amount, the amount of any such reduction for the Class A-36 Certificates will be
decreased by the Class A-48 Loss Allocation Amount and the amount of any such
reduction for the Class A-44 Certificates will be decreased by the Class A-47
Loss Allocation Amount. After the Subordination Depletion Date, the Principal
Balance for the Class A-37 Certificates will additionally be reduced by the
Class A-37 Loss Allocation Amount, the Principal Balance for the Class A-41
Certificates will additionally be reduced by the Class A-41 Loss Allocation
Amount, the Principal Balance for the Class A-45 Certificates will additionally
be reduced by the Class A-45 Loss Allocation Amount, the Principal Balance for
the Class A-46 Certificates will additionally be reduced by the Class A-46 Loss
Allocation Amount, the Principal Balance for the Class A-48 Certificates will
additionally be reduced by the Class A-48 Loss Allocation Amount and the
Principal Balance for the Class A-47 Certificates will additionally be reduced
by the Class A-47 Loss Allocation Amount. In addition, any increase allocated to
the Class A-2 Certificates pursuant to the third sentence above will instead
increase the Principal Balance of the Class A-37 Certificates, any increase
allocated to the Class A-5 Certificates pursuant to the third sentence above
will instead increase the Principal Balance of the Class A-41 Certificates, any
increase allocated to the Class A-6 Certificates pursuant to the third sentence
above will instead increase the Principal Balance of the Class A-45
Certificates, any increase allocated to the Class A-7 Certificates pursuant to
the third sentence above will instead increase the Principal Balance of the
Class A-46 Certificates, any increase allocated to the Class A-36 Certificates
pursuant to the third sentence above will instead increase the Principal Balance
of the Class A-48 Certificates and any increase allocated to the Class A-44
Certificates pursuant to the third sentence above will instead increase the
Principal Balance of the Class A-47 Certificates.

            A Class of Exchangeable Certificates has no Principal Balance.

            As of any subsequent Determination Date and as to the Class A-PO
Certificates, the Original Principal Balance of such Class less the sum of all
amounts previously distributed in respect of the Class A-PO Certificates on
prior Distribution Dates pursuant to Paragraph third clause (2) of Section
4.01(a). The Principal Balance of the Class A-PO Certificates will also be
reduced (if clause (x) is greater than clause (y)) or increased (if clause (x)
is less than clause (y)) on each Determination Date by the difference, if any,
between (x) the Principal Balance of the Class A-PO Certificates as of such
Determination Date without regard to this sentence and (y) the Adjusted Pool
Amount (PO Portion) for the preceding Distribution Date.

            As to the Class B Certificates, the Class B-1 Principal Balance,
Class B-2 Principal Balance, Class B-3 Principal Balance, Class B-4 Principal
Balance, Class B-5 Principal Balance and Class B-6 Principal Balance,
respectively.

            Notwithstanding the foregoing, no Principal Balance of a Class will
be increased on any Determination Date such that the Principal Balance of such
Class exceeds its Original Principal Balance or Maximum Initial Principal
Balance less all amounts previously distributed in respect of such Class on
prior Distribution Dates pursuant to Paragraph third clause (1) of Section
4.01(a), Paragraph third clause (2) of Section 4.01(a), or Paragraphs seventh,
tenth, thirteenth, sixteenth, nineteenth or twenty-second of Section 4.01(a).

            Principal Prepayment: Any Mortgagor payment on a Mortgage Loan which
is received in advance of its Due Date and is not accompanied by an amount
representing scheduled interest for any period subsequent to the date of
prepayment.

            Prior Month Receipt Period: With respect to each Distribution Date,
the calendar month preceding the month in which such Distribution Date occurs.

            Priority Amount: With respect to any Distribution Date, the product
of (i) the Priority Percentage, (ii) the Shift Percentage and (iii) the sum of
the Scheduled Principal Amount and the Unscheduled Principal Amount.

            Priority Percentage: The sum of the Principal Balances of the Class
A-36, Class A-37, Class A-41, Class A-45, Class A-46, Class A-47, Class A-48 and
Class A-49 Certificates divided by the Aggregate Non-PO Principal Balance.

            Prohibited Transaction Tax: Any tax imposed under Section 860F of
the Code.

            Prospectus: The prospectus dated May 25, 2007 as supplemented by the
prospectus supplement dated May 25, 2007, relating to the Class A, Class B-1,
Class B-2 and Class B-3 Certificates.

            Prudent Servicing Practices: The standard of care set forth in each
Servicing Agreement.

            Rate Determination Date: As to any Distribution Date and any Class
of LIBOR Certificates, the second LIBOR Business Day preceding the 25th day of
the month preceding the month in which such Distribution Date occurs.

            Rating Agency: Any nationally recognized statistical credit rating
agency, or its successor, that rated one or more Classes of the Certificates at
the request of the Depositor at the time of the initial issuance of the
Certificates. The Rating Agencies for the Class A Certificates (other than the
Class A-R Certificate) are Fitch and Moody's. The Rating Agency for the Class
A-R, Class B-1, Class B-2, Class B-3, Class B-4 and Class B-5 Certificates is
Fitch. If any such agency or a successor is no longer in existence, "Rating
Agency" shall be such statistical credit rating agency, or other comparable
Person, designated by the Depositor, notice of which designation shall be given
to the Trustee and the Master Servicer. References herein to the highest
short-term rating category of a Rating Agency shall mean F-1+ in the case of
Fitch, P-1 in the case of Moody's and in the case of any other Rating Agency
shall mean its equivalent of such ratings. References herein to the highest
long-term rating categories of a Rating Agency shall mean AAA in the case of
Fitch and Aaa in the case of Moody's, and in the case of any other Rating Agency
shall mean its equivalent of such ratings without any plus or minus.

            Realized Losses: With respect to any Distribution Date, (i)
Liquidated Loan Losses incurred on Liquidated Loans for which the Liquidation
Proceeds were received during the Applicable Unscheduled Principal Receipt
Period with respect to Full Unscheduled Principal Receipts with respect to such
Distribution Date and (ii) Bankruptcy Losses incurred during the period
corresponding to the Applicable Unscheduled Principal Receipt Period with
respect to Full Unscheduled Principal Receipts for such Distribution Date.

            Record Date: For (i) the Class A-8, Class A-9, Class A-43 and Class
A-51 Certificates, the Business Day preceding the related Distribution Date and
(ii) all other Certificates, the last Business Day of the month preceding the
month of the related Distribution Date.

            Recovery: Any amount received (net of any reimbursable expenses) on
a Mortgage Loan subsequent to such Mortgage Loan being determined to be a
Liquidated Loan.

            Reference Banks: Initially, the Reference Banks shall be Deutsche
Bank International, Bank of America, N.A., Citibank, N.A., and The Fuji Bank,
Limited. If any of these banks are not available, the Paying Agent shall select
from one of the following banks a substitute Reference Bank: Westdeutsche
Landesbank Girozentrale, The J.P. Morgan Chase Bank or National Westminster Bank
Plc. If any of these banks are not available, the Paying Agent shall in its
discretion select another Reference Bank.

            Regulation AB: Subpart 229.1100 - Asset Backed Securities
(Regulation AB), 17 C.F.R. ss.ss.229.1100-229.1123, as such may be amended from
time to time, and subject to such clarification and interpretation as have been
publicly provided by the Commission in the adopting release (Asset-Backed
Securities, Securities Act Release No. 33-8518, 70 Fed. Reg. 1,506 (Jan. 7,
2005)) or by the staff of the Commission, or as may be provided by the
Commission or its staff from time to time.

            Reimbursement Amount: As defined in Section 2.03(c).

            Related Exchangeable Certificates: As to the Class of Exchangeable
REMIC Certificates, each Class of Exchangeable Certificates included in the
Combination Group.

            Related Exchangeable REMIC Certificates: As to any Class of
Exchangeable Certificates, the Class of Exchangeable REMIC Certificates included
in the Combination Group.

            Relevant Servicing Criteria: The Servicing Criteria applicable to
the Master Servicer, the Trustee, the Custodian or the Servicers, as set forth
on Exhibit R attached hereto and the Servicing Criteria applicable to any
Special Servicer as set forth in the applicable Special Servicing Agreement. For
clarification purposes, multiple parties can have responsibility for the same
Relevant Servicing Criteria. With respect to a Servicing Function Participant
engaged by the Master Servicer, the Trustee, the Custodian, the Special Servicer
(if applicable) or a Servicer, the term "Relevant Servicing Criteria" refers to
the portion of the Relevant Servicing Criteria applicable to the party engaging
such Servicing Function Participant insofar as the functions required to be
performed by such party are to be performed by the Servicing Function
Participant.

            Relief Act Shortfall: Any interest shortfalls arising as a result of
the reduction in the amount of monthly interest payments on any Mortgage Loans
as a result of the application of the Servicemembers Civil Relief Act, as it may
be amended from time to time, or comparable state legislation. Any Relief Act
Shortfall will be allocated to (a) the Class A Certificates (other than the
Class A-PO and Exchangeable Certificates) according to the percentage obtained
by dividing the Class A Non-PO Principal Balance by the Aggregate Non-PO
Principal Balance and (b) the Class B Certificates according to the percentage
obtained by dividing the Class B Principal Balance by the Aggregate Non-PO
Principal Balance.

            REMIC: A "real estate mortgage investment conduit" as defined in
Code Section 860D. "The REMIC" means the REMIC constituted by the Trust Estate.

            REMIC Provisions: Provisions of the federal income tax law relating
to REMICs, which appear at Sections 860A through 860G of Part IV of Subchapter M
of Chapter 1 of Subtitle A of the Code, and related provisions, and U.S.
Department of the Treasury temporary, proposed or final regulations promulgated
thereunder, as the foregoing are in effect (or with respect to proposed
regulations, are proposed to be in effect) from time to time.

            Remittance Date: As defined in each of the Servicing Agreements.

            REO Mortgage Loan: Any Mortgage Loan which is not a Liquidated Loan
and as to which the indebtedness evidenced by the related Mortgage Note is
discharged and the related Mortgaged Property is held as part of the Trust
Estate.

            REO Proceeds: Proceeds received in respect of any REO Mortgage Loan
(including, without limitation, proceeds from the rental of the related
Mortgaged Property).

            Reportable Event: As defined in Section 3.12(c).

            Repurchase Price: With respect to any Mortgage Loan repurchased
pursuant to Section 2.02, 2.03 or 3.08 hereof, the sum of (a) 100% of the unpaid
principal balance of such Mortgage Loan plus (b) accrued interest at the
Mortgage Interest Rate less any Fixed Retained Yield, through the last day of
the month in which such repurchase takes place.

            Request for Release: A request for release (which may be in
electronic form) in substantially the form attached as Exhibit G hereto.

            Residual Certificate: The Class A-R Certificate.

            Responsible Officer: When used with respect to the Trustee, the
Master Servicer, the Custodian, the Paying Agent or the Authenticating Agent,
any officer of the Corporate Trust Department of the Trustee, the Master
Servicer, the Custodian, the Paying Agent or the Authenticating Agent having
direct responsibility for the administration of this Agreement, including any
Senior Vice President, any Vice President, any Assistant Vice President, any
Assistant Secretary, any Trust Officer or Assistant Trust Officer, or any other
employee of the Trustee, the Master Servicer, the Custodian, the Paying Agent or
the Authenticating Agent customarily performing functions similar to those
performed by any of the above-designated officers. When used with respect to a
Servicer, a Servicing Officer.

            Retained Mortgage Loan File: A file maintained by Wells Fargo Bank
prior to any Document Transfer Date for each Mortgage Loan that contains the
documents specified in Section 2.01(b) and any additional documents required to
be added to the Retained Mortgage Loan File pursuant to this Agreement.

            Rule 144A: Rule 144A promulgated under the 1933 Act.

            S&P: Standard & Poor's, a division of The McGraw-Hill Companies,
Inc., or its successor in interest.

            Sarbanes-Oxley Certification: As defined in Section 3.12(b).

            Scheduled Principal Amount: The sum for each outstanding Mortgage
Loan (including each defaulted Mortgage Loan with respect to which the related
Mortgaged Property has been acquired by the Trust Estate) of the product of (A)
the Non-PO Fraction for such Mortgage Loan and (B) the sum of the amounts
described in clauses Iy(i) and Iy(iv) of the definition of Class A Non-PO
Optimal Principal Amount but without such amounts being multiplied by the Class
A Percentage.

            Scheduled Principal Balance: As to any Mortgage Loan and
Distribution Date, the principal balance of such Mortgage Loan as of the Due
Date in the month preceding the month of such Distribution Date as specified in
the amortization schedule at the time relating thereto (before any adjustment to
such amortization schedule by reason of any bankruptcy (other than Deficient
Valuations) or similar proceeding or any moratorium or similar waiver or grace
period) after giving effect to (A) Unscheduled Principal Receipts received or
applied by the applicable Servicer during the related Unscheduled Principal
Receipt Period for each applicable type of Unscheduled Principal Receipt related
to the Distribution Date occurring in the month preceding such Distribution
Date, (B) Deficient Valuations incurred prior to such Due Date and (C) the
payment of principal due on such Due Date and irrespective of any delinquency in
payment by the related Mortgagor. Accordingly, the Scheduled Principal Balance
of a Mortgage Loan which becomes a Liquidated Loan at any time through the last
day of such related Unscheduled Principal Receipt Period shall be zero.

            Servicer Mortgage Loan File: As defined in each of the Servicing
Agreements.

            Servicers: Wells Fargo Bank, as a Servicer under the related
Servicing Agreement. Initially the servicing functions performed by Wells Fargo
Bank shall be performed by the Wells Fargo Home Mortgage division of Wells Fargo
Bank.

            Servicing Agreements: Each of the Servicing Agreements executed with
respect to a portion of the Mortgage Loans by one of the Servicers, which
agreements are attached hereto, collectively, as Exhibit L.

            Servicing Criteria: The "servicing criteria" set forth in Item
1122(d) of Regulation AB, as such may be amended from time to time.

            Servicing Fee: With respect to any Servicer, as defined in its
Servicing Agreement.

            Servicing Fee Rate: With respect to a Mortgage Loan, as set forth in
Section 11.23.

            Servicing Function Participant: Any Subservicer, Subcontractor or
any other Person, other than the Master Servicer, the Trustee, the Custodian,
the Special Servicer (if applicable) and the Servicers, that is performing
activities addressed by the Servicing Criteria.

            Servicing Officer: Any officer of a Servicer involved in, or
responsible for, the administration and servicing of the Mortgage Loans.

            Shift Percentage: As to any Distribution Date, the percentage
indicated below:

               Distribution Date Occurring In   Shift Percentage
               ------------------------------   ----------------
               June 2007 through May 2012                      0%
               June 2012 through May 2013                     30%
               June 2013 through May 2014                     40%
               June 2014 through May 2015                     60%
               June 2015 through May 2016                     80%
               June 2016 and thereafter                      100%

            Similar Law: As defined in Section 5.02(c).

            Special Servicer: As defined in Section 3.08.

            Special Servicing Agreement: As defined in Section 3.08.

            Single Certificate: A Certificate of any Class that evidences the
smallest permissible Denomination for such Class, as set forth in Section 11.22.

            Startup Day: As defined in Section 2.05.

            Subcontractor: Any vendor, subcontractor or other Person that is not
responsible for the overall servicing of Mortgage Loans but performs one or more
discrete functions identified in Item 1122(d) of Regulation AB with respect to
Mortgage Loans under the direction or authority of any Servicer (or a
Subservicer of any Servicer), the Master Servicer, the Trustee or the Custodian.

            Subordinated Percentage: As to any Distribution Date, the percentage
which is the difference between 100% and the Class A Percentage for such date.

            Subordinated Prepayment Percentage: As to any Distribution Date, the
percentage which is the difference between 100% and the Class A Prepayment
Percentage for such date.

            Subordination Depletion Date: The Distribution Date preceding the
first Distribution Date on which the Class A Percentage (determined pursuant to
clause (ii) of the definition thereof) equals or exceeds 100%.

            Subordination Depletion Date Interest Shortfall: With respect to any
Distribution Date that occurs on or after the Subordination Depletion Date with
respect to any Unscheduled Principal Receipt (other than a Prepayment in Full or
Curtailment):

            (A)   in the case where the Applicable Unscheduled Principal Receipt
                  Period is the Mid-Month Receipt Period and such Unscheduled
                  Principal Receipt is received by the applicable Servicer on or
                  after the Determination Date in the month preceding the month
                  of such Distribution Date but prior to the first day of the
                  month of such Distribution Date, the amount of interest that
                  would have accrued at the Net Mortgage Interest Rate on the
                  amount of such Unscheduled Principal Receipt from the day of
                  its receipt or, if earlier, its application by such Servicer
                  through the last day of the month preceding the month of such
                  Distribution Date; and

            (B)   in the case where the Applicable Unscheduled Principal Receipt
                  Period is the Prior Month Receipt Period and such Unscheduled
                  Principal Receipt is received by the applicable Servicer
                  during the month preceding the month of such Distribution
                  Date, the amount of interest that would have accrued at the
                  Net Mortgage Interest Rate on the amount of such Unscheduled
                  Principal Receipt from the day of its receipt or, if earlier,
                  its application by such Servicer through the last day of the
                  month in which such Unscheduled Principal Receipt is received.

            Subservicer: Any Person that (i) services Mortgage Loans on behalf
of any Servicer, and (ii) is responsible for the performance (whether directly
or through Subservicers or Subcontractors) of a substantial portion of the
material servicing functions required to be performed under this Agreement, any
related Servicing Agreement or any sub-servicing agreement that are identified
in Item 1122(d) of Regulation AB.

            Subsidy Account: If the Trust Estate contains any Subsidy Loans, the
deposit account or accounts created and maintained by the applicable Servicer
for deposit of Subsidy Funds and amounts payable under interest subsidy
agreements relating to mortgage loans other than the Mortgage Loans.

            Subsidy Funds: If the Trust Estate contains any Subsidy Loans, funds
contributed by the employer of a Mortgagor in order to reduce the payments
required from the Mortgagor for a specified period in specified amounts.

            Subsidy Loan: Any Mortgage Loan subject to a temporary interest
subsidy agreement pursuant to which the monthly interest payments made by the
related Mortgagor will be less than the scheduled monthly interest payments on
such Mortgage Loan, with the resulting difference in interest payments being
provided by the employer of the Mortgagor.

            Substitute Mortgage Loan: As defined in Section 2.02.

            Substitution Principal Amount: With respect to any Mortgage Loan
substituted in accordance with Section 2.02 or pursuant to Section 2.03, the
excess of (x) the unpaid principal balance of the Mortgage Loan which is
substituted for over (y) the unpaid principal balance of the Substitute Mortgage
Loan, each balance being determined as of the date of substitution.

            Trust: The New York common law trust created by this Agreement which
shall be entitled "Wells Fargo Mortgage Backed Securities 2007-7 Trust."

            Trust Estate: The corpus of the Trust, consisting of the Mortgage
Loans (other than any Fixed Retained Yield), such amounts as may be held from
time to time in the Certificate Account (other than any Fixed Retained Yield),
the rights of the Trustee to receive the proceeds of all insurance policies and
performance bonds, if any, required to be maintained hereunder or under the
related Servicing Agreement, property which secured a Mortgage Loan and which
has been acquired by foreclosure or deed in lieu of foreclosure and all other
property and rights described in the first paragraph of Section 2.01(a).

            Trustee: HSBC Bank USA, National Association, a national banking
association, or any successor trustee appointed as herein provided.

            Trustee Errors and Omissions Policy: An insurance policy covering
losses caused by errors or omissions of the Trustee and its personnel.

            Type 1 Mortgage Loan: The Mortgage Loans, if any, identified as such
in the Mortgage Loan Schedule as such Mortgage Loan Schedule may be amended from
time to time in connection with a substitution pursuant to Section 2.02 or 2.03,
serviced under the Wells Fargo Bank Servicing Agreement and having a Mid-Month
Receipt Period with respect to all types of Unscheduled Principal Receipts.

            Type 2 Mortgage Loan: The Mortgage Loans, if any, identified as such
in the Mortgage Loan Schedule as such Mortgage Loan Schedule may be amended from
time to time in connection with a substitution pursuant to Section 2.02 or 2.03,
serviced under the Wells Fargo Bank Servicing Agreement and having a Prior Month
Receipt Period with respect to all types of Unscheduled Principal Receipts.

            Unpaid Interest Shortfalls: Each of the Class A Unpaid Interest
Shortfalls, the Class B-1 Unpaid Interest Shortfall, the Class B-2 Unpaid
Interest Shortfall, the Class B-3 Unpaid Interest Shortfall, the Class B-4
Unpaid Interest Shortfall, the Class B-5 Unpaid Interest Shortfall and the Class
B-6 Unpaid Interest Shortfall.

            Unscheduled Principal Amount: The sum for each outstanding Mortgage
Loan (including each defaulted Mortgage Loan with respect to which the related
Mortgaged Property has been acquired by the Trust Estate) of the product of (A)
the Non-PO Fraction for such Mortgage Loan and (B) the sum of the amounts
described in clauses Iy(ii) and Iy(iii) of the definition of Class A Non-PO
Optimal Principal Amount but without such amounts being multiplied by the Class
A Prepayment Percentage.

            Unscheduled Principal Receipt: Any Principal Prepayment or other
recovery of principal on a Mortgage Loan, including, without limitation, the
principal portion of Net Liquidation Proceeds, the principal portion of Net REO
Proceeds, Recoveries and proceeds received from any condemnation award or
proceeds in lieu of condemnation other than that portion of such proceeds
released to the Mortgagor in accordance with the terms of the Mortgage or
Prudent Servicing Practices, but excluding any Liquidation Profits and proceeds
of a repurchase of a Mortgage Loan by the Depositor and any Substitution
Principal Amounts.

            Unscheduled Principal Receipt Period: Either a Mid-Month Receipt
Period or a Prior Month Receipt Period.

            U.S. Person: As defined in Section 4.01(f).

            Voting Interest: With respect to any provisions hereof providing for
the action, consent or approval of the Holders of all Certificates evidencing
specified Voting Interests in the Trust Estate, each Class of Certificates
(other than the Exchangeable Certificates) will be entitled to a pro rata
portion of the aggregate Voting Interest represented by all Certificates (other
than the Exchangeable Certificates) equal to the ratio obtained by dividing the
Principal Balance of such Class by the Aggregate Principal Balance. Each
Certificateholder of a Class (other than the Exchangeable Certificates) will
have a Voting Interest equal to the product of the Voting Interest to which such
Class is collectively entitled and the Percentage Interest in such Class
represented by such Holder's Certificates. With respect to any provisions hereof
providing for action, consent or approval of each Class of Certificates or
specified Classes of Certificates, each Certificateholder of a Class will have a
Voting Interest in such Class equal to such Holder's Percentage Interest in such
Class. As to each Class of Exchangeable Certificates, in the event that all or a
portion of the Class of Exchangeable REMIC Certificates in the Exchangeable
REMIC Combination is exchanged for a proportionate portion of the Exchangeable
Combination, each such Class of Exchangeable Certificates included in such
Exchangeable Combination will be entitled to its proportionate share of the
Voting Interests allocated to the Class of Exchangeable REMIC Certificates in
the Exchangeable REMIC Combination.

            Wells Fargo Bank: Wells Fargo Bank, N.A., or its successor in
interest.

            Wells Fargo Bank Correspondents: The entities identified on a list
provided by Wells Fargo Bank to the Master Servicer, from which Wells Fargo Bank
purchased the Mortgage Loans.

            Wells Fargo Bank Servicing Agreement: The Servicing Agreement
providing for the servicing of those Mortgage Loans that are initially serviced
by Wells Fargo Bank.

            WHFIT: A "Widely Held Fixed Investment Trust" as that term is
defined in Treasury Regulations section 1.671-5(b)(22) or successor provisions.

            WHFIT Regulations: Treasury Regulations section 1.671-5, as amended.

            WHMT: A "Widely Held Mortgage Trust" as that term is defined in
Treasury Regulations section 1.671-5(b)(23) or successor provisions.

            Section 1.02 Acts of Holders.

            (a) Any request, demand, authorization, direction, notice, consent,
waiver or other action provided by this Agreement to be given or taken by
Holders may be embodied in and evidenced by one or more instruments of
substantially similar tenor signed by such Holders in person or by an agent duly
appointed in writing. Except as herein otherwise expressly provided, such action
shall become effective when such instrument or instruments are delivered to the
Trustee. Proof of execution of any such instrument or of a writing appointing
any such agent shall be sufficient for any purpose of this Agreement and
conclusive in favor of the Trustee, if made in the manner provided in this
Section 1.02. The Trustee shall promptly notify the Master Servicer in writing
of the receipt of any such instrument or writing.

            (b) The fact and date of the execution by any Person of any such
instrument or writing may be proved by the affidavit of a witness of such
execution or by a certificate of a notary public or other officer authorized by
law to take acknowledgments of deeds, certifying that the individual signing
such instrument or writing acknowledged to him the execution thereof. When such
execution is by a signer acting in a capacity other than his or her individual
capacity, such certificate or affidavit shall also constitute sufficient proof
of his or her authority. The fact and date of the execution of any such
instrument or writing, or the authority of the individual executing the same,
may also be proved in any other manner which the Trustee deems sufficient.

            (c) The ownership of Certificates (whether or not such Certificates
shall be overdue and notwithstanding any notation of ownership or other writing
thereon made by anyone other than the Trustee and the Authenticating Agent)
shall be proved by the Certificate Register, and none of the Trustee, the
Depositor or the Master Servicer shall be affected by any notice to the
contrary.

            (d) Any request, demand, authorization, direction, notice, consent,
waiver or other action of the Holder of any Certificate shall bind every future
Holder of the same Certificate and the Holder of every Certificate issued upon
the registration of transfer thereof or in exchange therefor or in lieu thereof
in respect of anything done, omitted or suffered to be done by the Trustee, the
Depositor or the Master Servicer in reliance thereon, whether or not notation of
such action is made upon such Certificate.

            Section 1.03 Effect of Headings and Table of Contents.

            The Article and Section headings in this Agreement and the Table of
Contents are for convenience of reference only and shall not affect the
interpretation or construction of this Agreement.

            Section 1.04 Benefits of Agreement.

            Nothing in this Agreement or in the Certificates, express or
implied, shall give to any Person, other than the parties to this Agreement and
their successors hereunder and the Holders of the Certificates any benefit or
any legal or equitable right, power, remedy or claim under this Agreement.

                                   ARTICLE II

                          CONVEYANCE OF MORTGAGE LOANS;
                      ORIGINAL ISSUANCE OF THE CERTIFICATES

            Section 2.01 Conveyance of Mortgage Loans.

            (a) The Depositor, concurrently with the execution and delivery
hereof, does hereby assign to the Trustee, without recourse all the right, title
and interest of the Depositor in and to (a) the Trust Estate, including all
interest (other than the portion, if any, representing the Fixed Retained Yield)
and principal received by the Depositor on or with respect to the Mortgage Loans
after the Cut-Off Date (and including scheduled payments of principal and
interest due after the Cut-Off Date but received by the Depositor on or before
the Cut-Off Date and Unscheduled Principal Receipts received or applied on the
Cut-Off Date, but not including payments of principal and interest due on the
Mortgage Loans on or before the Cut-Off Date), (b) the Insurance Policies, (c)
the obligations of the Servicers under the Servicing Agreements with respect to
the Mortgage Loans, (d) the right to receive amounts, if any, payable on behalf
of any Mortgagor from the Subsidy Account relating to any Subsidy Loan, (e) all
of the Depositor's right, title and interest in and to the proceeds of the
Letters of Credit and (f) proceeds of all the foregoing. It is agreed and
understood by the Depositor and the Trustee that it is not intended that any
mortgage loan be included in the Trust Estate that is a "High-Cost Home Loan" as
defined in any of (i) the New Jersey Home Ownership Act effective November 27,
2003, (ii) the New Mexico Home Loan Protection Act effective January 1, 2004,
(iii) the Massachusetts Predatory Home Loan Practices Act effective November 7,
2004 or (iv) the Indiana Home Loan Practices Act, effective January 1, 2005.

            In connection with such assignment, the Depositor shall, with
respect to each Mortgage Loan, deliver, or cause to be delivered, to the
Custodian, on or before the Closing Date the following documents or instruments
with respect to each Mortgage Loan.

            (i) The original Mortgage Note either (A) endorsed in blank or (B)
      endorsed as provided in Section 2.01(d), with all prior and intervening
      endorsements as may be necessary to show a complete chain of endorsements
      or with respect to any Mortgage Loan as to which the original Mortgage
      Note has been permanently lost or destroyed and has not been replaced, a
      lost note affidavit with a copy of the Mortgage Note and, in the case of
      any Mortgage Loan originated in the State of New York documented by a
      NYCEMA, the NYCEMA, the new Mortgage Note, if applicable, the consolidated
      Mortgage Note and the consolidated Mortgage;

            (ii) A recorded original assignment of the related Mortgage from
      Wells Fargo Bank assigning the related Mortgage to the Trustee (which may
      be assigned in blank), certified by the recording office, or, if such
      assignment is in the process of being recorded, a copy of the related
      Mortgage transmitted for recordation certified by an officer of Wells
      Fargo Bank or applicable Wells Fargo Bank Correspondent to be a true and
      correct copy of such assignment submitted for recordation; provided,
      however, if recordation is not required as described below, an assignment
      in recordable form (which may be assigned in blank) with respect to the
      related Mortgage;

            (iii) The original of each assumption agreement, modification,
      written assurance or substitution agreement pertaining to such Mortgage
      Note, if any; and

            (iv) For each Mortgage Loan secured by Co-op Shares, the originals
      of the following documents or instruments:

                  (a)   The loan security agreement;

                  (b)   The stock certificate;

                  (c)   The stock power, executed in blank;

                  (d)   The executed proprietary lease;

                  (e)   The executed recognition agreement;

                  (f)   The executed UCC-1 financing statement with evidence of
                        recording thereon; and

                  (g)   The executed UCC-3 financing statements or other
                        appropriate UCC financing statements required by state
                        law, evidencing a complete and unbroken chain from the
                        mortgagee to the Trustee with evidence of recording
                        thereon (or in a form suitable for recordation); and

            (v) For each Letter of Credit, the original advice of such Letter of
      Credit endorsed by the Pledge Holder and Wells Fargo Bank's notice of
      transfer (Exhibit A to the Letter of Credit) of beneficiary of such Letter
      of Credit to the Trustee.

            (b) The Master Servicer shall promptly notify the Depositor, the
Trustee and the Custodian of the occurrence of any Document Transfer Event of
which the Master Servicer had knowledge. Following the receipt of such notice,
the Depositor shall, with respect to each Mortgage Loan, deliver, or cause to be
delivered, to the Custodian, no later than the Document Transfer Date, copies
(which may be in electronic form mutually agreed upon by the Depositor and the
Custodian) of the following additional documents or instruments with respect to
each Mortgage Loan; provided, however, that originals of such documents or
instruments shall be delivered to the Custodian if originals are required under
the law in which the related Mortgaged Property is located in order to exercise
all remedies available to the Trust under applicable law following default by
the related Mortgagor:

            (i) The original recorded Mortgage with evidence of recordation
      noted thereon or attached thereto, together with any addenda or riders
      thereto, or a copy of such recorded Mortgage with such evidence of
      recordation certified to be true and correct by the appropriate
      governmental recording office; or a copy of such recorded Mortgage with
      such evidence of recordation, or if the original Mortgage has been
      submitted for recordation but has not been returned from the applicable
      public recording office, a copy of the Mortgage certified by an officer of
      Wells Fargo Bank or the applicable Wells Fargo Bank Correspondent to be a
      true and correct copy of the original Mortgage submitted for recordation;

            (ii) The original of each assumption agreement, modification,
      written assurance or substitution agreement pertaining to such Mortgage,
      if any, or, if such document is in the process of being recorded, a copy
      of such document, certified by an officer of Wells Fargo Bank or the
      applicable Wells Fargo Bank Correspondent of such Mortgage Loan or by the
      applicable title insurance company, closing agent, settlement agent,
      escrow agent or closing attorney to be a true and correct copy of such
      document transmitted for recordation, if any;

            (iii) For each MERS Mortgage Loan that is not a MOM Mortgage Loan,
      the original assignment showing MERS as the assignee of the Mortgage, with
      evidence of recording thereon or copies thereof certified by an officer of
      Wells Fargo Bank or the applicable Wells Fargo Bank Correspondent to have
      been submitted for recordation;

            (iv) Each original recorded intervening assignment of the Mortgage
      as may be necessary to show a complete chain of title from the Mortgage
      Loan originator to Wells Fargo Bank or Wells Fargo Home Mortgage, Inc.,
      with evidence of recordation noted thereon or attached thereto, or a copy
      of such assignment with such evidence of recordation to be true and
      correct by the appropriate governmental recording office, or, if any such
      assignment has been submitted for recordation but has not been returned
      from the applicable public recording office or is not otherwise available,
      a copy of such assignment certified by an officer of Wells Fargo Bank or
      the applicable Wells Fargo Bank Correspondent to be a true and correct
      copy of the recorded assignment submitted for recordation; and

            (v) The original policy of the title insurance or certificate of
      title insurance or a written commitment to issue such a title insurance
      policy or certificate of title insurance, or a copy of such title
      insurance certified as true and correct by the applicable insurer or any
      attorney's certificate of title with an Officer's Certificate of Wells
      Fargo Bank or the applicable Wells Fargo Bank Correspondent that such
      attorney's certificate of title is customarily used in lieu of a title
      insurance policy in the jurisdiction in which the related mortgage
      property is located.

            (c) If any assignment of a Mortgage to the Trustee is in the process
of being recorded on the Closing Date, the Depositor shall use its best efforts
to cause each such original recorded document or certified copy thereof to be
delivered to the Custodian promptly following its recordation, but in no event
later than one (1) year following the Closing Date. If any Mortgage has been
recorded in the name of MERS or its designee, no assignment of Mortgage in favor
of the Trustee will be required to be prepared or delivered and instead, the
Master Servicer shall enforce any obligation of the Servicers under the
Servicing Agreements to take all actions as are necessary to cause the Trust
Estate to be shown as the owner of the related Mortgage Loan on the records of
MERS for the purpose of the system of recording transfers of beneficial
ownership of mortgages maintained by MERS. The Depositor shall also cause to be
delivered to the Custodian any other original mortgage loan document included in
the Owner Mortgage Loan File if a copy thereof has been delivered. The Depositor
shall pay from its own funds, without any right of reimbursement therefor, the
amount of any costs, liabilities and expenses incurred by the Trust Estate by
reason of the failure of the Depositor to cause to be delivered to the Custodian
within one (1) year following the Closing Date any assignment of a Mortgage
(except with respect to any Mortgage recorded in the name of MERS) not delivered
to the Custodian on the Closing Date.

            In lieu of recording an assignment of any Mortgage the Depositor
may, deliver or cause to be delivered to the Custodian the assignment of the
Mortgage Loan to the Trustee in a form suitable for recordation, if (i) with
respect to a particular state the Trustee has received an Opinion of Counsel
acceptable to it that such recording is not required to make the assignment
effective against the parties to the Mortgage or subsequent purchasers or
encumbrances of the Mortgaged Property or (ii) the Depositor has been advised by
each Rating Agency that non-recordation in a state will not result in a
reduction of the rating assigned by that Rating Agency at the time of initial
issuance of the Certificates. Set forth on Exhibit K attached hereto is a list
of all states where recordation is required by each Rating Agency to obtain the
initial ratings of the Certificates. The Custodian may rely and shall be
protected in relying upon the information contained in such Exhibit K. In the
event that the Custodian receives notice that recording is required to protect
the right, title and interest of the Trustee in and to any such Mortgage Loan
for which recordation of an assignment has not previously been required, the
Custodian shall promptly notify the Trustee and the Custodian shall, within five
Business Days (or such other reasonable period of time mutually agreed upon by
the Custodian and the Trustee) of its receipt of such notice, deliver each
previously unrecorded assignment to the related Servicer for recordation.

            (d) Except for Mortgage Notes endorsed in blank, endorsements shall
comply with the following format:

                                WITHOUT RECOURSE
                              PAY TO THE ORDER OF:
                     HSBC BANK USA, NATIONAL ASSOCIATION, AS
                     TRUSTEE under the pooling and servicing
                          agreement dated as of [date].
                         and its successors and assigns,

          [Wells Fargo Bank, N.A.] or [Wells Fargo Home Mortgage, Inc.]
                             [Signature of Officer]
                           [Officer's Name and Title]

            Except where assignments in blank are authorized or in the case of
any Mortgage registered in the name of MERS, assignments of any Mortgage shall
comply with the following:

                     HSBC BANK USA, NATIONAL ASSOCIATION, AS
                                     TRUSTEE
                         and its successors and assigns

            (e) Concurrently with the execution and delivery of this Agreement,
the Depositor shall deliver the Mortgage Loan Schedule to the Trustee, the
Master Servicer and the Custodian. The Depositor and the Master Servicer shall
provide a copy of the Mortgage Loan Schedule to any Certificateholders upon
written request made to it at the addresses set forth on Exhibit F, as the same
may be amended from time to time by written notice from such party to the other
parties hereto.

            Section 2.02 Acceptance by Custodian.

            Subject to the provisions of the following paragraph, pursuant to
the Custodial Agreement, the Custodian, on behalf of the Trustee, will declare
that it holds and will hold the documents delivered to it pursuant to Section
2.01(a) above and the other documents constituting a part of the Owner Mortgage
Loan Files or Retained Mortgage Loan Files (after the occurrence of a Document
Transfer Event) delivered to it in trust, upon the trusts herein set forth, for
the use and benefit of all present and future Certificateholders. Upon execution
of this Agreement, the Custodian will deliver to the Depositor and the Trustee
an initial certification in the form of Exhibit N hereto, to the effect that,
except as may be specified in a list of exceptions attached thereto, it has
received the original Mortgage Notes relating to each Mortgage Loan on the
Mortgage Loan Schedule.

            The Custodian will review each Owner Mortgage Loan File within 45
days after execution of this Agreement. The Custodian will deliver no later than
30 days after completion of such review to the Depositor and the Trustee a final
certification in the form of Exhibit O hereto to the effect that, except as may
be specified in a list of exceptions attached thereto, all required documents
set forth in Section 2.01(a) have been executed and received and appear regular
on their face, and that such documents relate to the Mortgage Loans identified
in the Mortgage Loan Schedule based on a comparison of the Mortgage Loan
identifying number, Mortgagor name and street address, and in so doing the
Custodian may rely on the purported due execution and genuineness of any such
document and on the purported genuineness of any signature thereon.

            If there are exceptions attached to the final certification, the
Depositor shall have a period of 60 days after the date of receipt of the final
certification within which to correct or cure any such defects. The Depositor
hereby covenants and agrees that, if any material defect is not so corrected or
cured, the Depositor will, not later than 60 days after receipt of the final
certification referred to above respecting such defects, either (i) repurchase
the related Mortgage Loan or any property acquired in respect thereof from the
Trust Estate at a price equal to the Repurchase Price or (ii) if within two
years of the Startup Day, or such other period permitted by the REMIC
Provisions, substitute for any Mortgage Loan to which such material defect
relates, a new mortgage loan (a "Substitute Mortgage Loan") having such
characteristics so that the representations and warranties of the Depositor set
forth in Section 2.03(b) hereof (other than Section 2.03(b)(i)) would not have
been incorrect had such Substitute Mortgage Loan originally been a Mortgage
Loan. In no event shall any Substitute Mortgage Loan have an unpaid principal
balance, as of the date of substitution, greater than the Scheduled Principal
Balance (reduced by the scheduled payment of principal due on the Due Date in
the month of substitution) of the Mortgage Loan for which it is substituted. In
addition, such Substitute Mortgage Loan shall have a Loan-to-Value Ratio less
than or equal to and a Net Mortgage Interest Rate equal to that of the Mortgage
Loan for which it is substituted.

            The Depositor shall determine the Repurchase Price or the
eligibility of any Substitute Mortgage Loan and the Trustee shall be protected
in relying on such determination.

            In the case of a repurchased Mortgage Loan or property, the
Repurchase Price shall be deposited by the Depositor in the Certificate Account
maintained by the Master Servicer pursuant to Section 3.01. In the case of a
Substitute Mortgage Loan, the Owner Mortgage Loan File (and Retained Mortgage
Loan File, if required pursuant to Section 2.01(b) hereof) relating thereto
shall be delivered to the Custodian and the Substitution Principal Amount (if
any), together with (i) interest on such Substitution Principal Amount at the
applicable Net Mortgage Interest Rate to the following Due Date of such Mortgage
Loan which is being substituted for and (ii) an amount equal to the aggregate
amount of unreimbursed Periodic Advances in respect of interest previously made
by the applicable Servicer, the Master Servicer or the Trustee with respect to
such Mortgage Loan, shall be deposited in the Certificate Account. The Monthly
Payment on the Substitute Mortgage Loan for the Due Date in the month of
substitution shall not be part of the Trust Estate. Upon receipt by the
Custodian of a Request for Release signed by an officer of the Depositor, the
Custodian shall release to the Depositor the Owner Mortgage Loan File (and
Retained Mortgage Loan File, if applicable) of the Mortgage Loan being removed.
The Trustee shall execute and deliver such instrument of transfer or assignment
(or, in the case of a Mortgage Loan registered in the name of MERS or its
designee, the Master Servicer shall enforce the obligation of the applicable
Servicer under the related Servicing Agreement to take all necessary action to
reflect such assignment on the records of MERS), in each case without recourse,
as shall be necessary to vest in the Depositor legal and beneficial ownership of
such substituted or repurchased Mortgage Loan or property. It is understood and
agreed that the obligation of the Depositor to substitute a new Mortgage Loan
for or repurchase any Mortgage Loan or property as to which such a material
defect in a constituent document exists shall constitute the sole remedy
respecting such defect available to the Certificateholders or the Trustee on
behalf of the Certificateholders. The failure of the Custodian to give the final
certification or the Trustee to give any notice within the required time periods
shall not affect or relieve the Depositor's obligation to repurchase any
Mortgage Loan pursuant to this Section 2.02.

            The Trustee shall be responsible for enforcing the Depositor's
obligations under this Section 2.02. If the Trustee receives written notice from
the Custodian or the Master Servicer that the defect is not cured by the
Depositor within 60 days after the Trustee's notice, the Trustee shall enforce
the Depositor's obligation to repurchase such Mortgage Loan or substitute for
such Mortgage Loan in accordance with the provisions of this Section 2.02. In
connection with any substitution permitted by this Section 2.02, the Master
Servicer shall verify that the unpaid principal balance and the Loan-to-Value
Ratio of the Substitute Mortgage Loan satisfy the requirements of this Section
2.02.

            Section 2.03 Representations and Warranties of the Master Servicer
and the Depositor.

            (a) The Master Servicer hereby represents and warrants to the
Trustee for the benefit of the Certificateholders that, as of the date of
execution of this Agreement:

            (i) The Master Servicer is a national banking association duly
      chartered and validly existing in good standing under the laws of the
      United States;

            (ii) The execution and delivery of this Agreement by the Master
      Servicer and its performance and compliance with the terms of this
      Agreement will not violate the Master Servicer's corporate charter or
      by-laws or constitute a default (or an event which, with notice or lapse
      of time, or both, would constitute a default) under, or result in the
      breach of, any material contract, agreement or other instrument to which
      the Master Servicer is a party or which may be applicable to the Master
      Servicer or any of its assets;

            (iii) This Agreement, assuming due authorization, execution and
      delivery by the Trustee and the Depositor, constitutes a valid, legal and
      binding obligation of the Master Servicer, enforceable against it in
      accordance with the terms hereof subject to applicable bankruptcy,
      insolvency, reorganization, moratorium and other laws affecting the
      enforcement of creditors' rights generally and to general principles of
      equity, regardless of whether such enforcement is considered in a
      proceeding in equity or at law;

            (iv) The Master Servicer is not in default with respect to any order
      or decree of any court or any order, regulation or demand of any federal,
      state, municipal or governmental agency, which default might have
      consequences that would materially and adversely affect the condition
      (financial or other) or operations of the Master Servicer or its
      properties or might have consequences that would materially affect its
      performance hereunder;

            (v) Except as otherwise disclosed in the Prospectus, no legal or
      governmental proceedings are pending (or known to be contemplated) against
      the Master Servicer that would be material to Certificateholders;

            (vi) Except as otherwise disclosed in the Prospectus, the Master
      Servicer is not aware and has not received notice that any default, early
      amortization or other performance triggering event has occurred as to any
      other securitization due to any act or failure to act of the Master
      Servicer under such securitization;

            (vii) Except as otherwise disclosed in the Prospectus, the Master
      Servicer has not been terminated as master servicer in a residential
      mortgage loan securitization, either due to a master servicing default or
      to application of a master servicing performance test or trigger;

            (viii) Except as otherwise disclosed in the Prospectus, or otherwise
      in writing provided by the Master Servicer to the Depositor, there has
      been no material noncompliance with the applicable servicing criteria with
      respect to other securitizations of residential mortgage loans involving
      the Master Servicer as a master servicer within the past three (3) years;

            (ix) Except as otherwise disclosed in the Prospectus, no material
      changes to the Master Servicer's policies or procedures with respect to
      the master servicing function it will perform under this Agreement for
      mortgage loans of a type similar to the Mortgage Loans have occurred
      during the three-year period immediately preceding the date of this
      Agreement;

            (x) Except as otherwise disclosed in the Prospectus, there is no
      material risk that the Master Servicer's financial condition could affect
      one or more aspects of the performance by the Master Servicer of its
      master servicing obligations under this Agreement in a manner that could
      have a material impact on the performance of the Mortgage Loans or the
      Certificates; and

            (xi) Except as disclosed in the Prospectus, there are no
      affiliations, relationships or transactions relating to the Master
      Servicer and any party identified in Item 1119 of Regulation AB of the
      type described therein.

            It is understood and agreed that the representations and warranties
set forth in this Section 2.03(a) shall survive delivery of the respective Owner
Mortgage Loan Files to the Trustee or the Custodian. Upon discovery by any of
the Depositor, the Master Servicer or the Trustee of a breach of any of the
representations and warranties set forth in this Section 2.03(a), the party
discovering such breach shall give prompt written notice, which shall not exceed
two days, to the other parties. The Master Servicer shall consult with the
Depositor to determine if any such breach is material and any breach determined
by the Depositor to be material shall be included by the Master Servicer on the
next Distribution Date Statement prepared pursuant to Section 4.04.

            (b) The Depositor hereby represents and warrants to the Trustee for
the benefit of Certificateholders that, as of the date of execution of this
Agreement, with respect to the Mortgage Loans, or each Mortgage Loan, as the
case may be:

            (i) The information set forth in the Mortgage Loan Schedule was true
      and correct in all material respects at the date or dates respecting which
      such information is furnished as specified in the Mortgage Loan Schedule;

            (ii) Immediately prior to the transfer and assignment contemplated
      herein, the Depositor was the sole owner and holder of the Mortgage Loan
      free and clear of any and all liens, pledges, charges or security
      interests of any nature and has full right and authority to sell and
      assign the same;

            (iii) The Mortgage is a valid, subsisting and enforceable first lien
      on the property therein described, and the Mortgaged Property is free and
      clear of all encumbrances and liens having priority over the first lien of
      the Mortgage except for liens for real estate taxes and special
      assessments not yet due and payable and liens or interests arising under
      or as a result of any federal, state or local law, regulation or ordinance
      relating to hazardous wastes or hazardous substances, and, if the related
      Mortgaged Property is a condominium unit, any lien for common charges
      permitted by statute or homeowners association fees; and if the Mortgaged
      Property consists of shares of a cooperative housing corporation, any lien
      for amounts due to the cooperative housing corporation for unpaid
      assessments or charges or any lien of any assignment of rents or
      maintenance expenses secured by the real property owned by the cooperative
      housing corporation; and any security agreement, chattel mortgage or
      equivalent document related to, and delivered to the Trustee or to the
      Custodian with, any Mortgage establishes in the Depositor a valid and
      subsisting first lien on the property described therein and the Depositor
      has full right to sell and assign the same to the Trustee;

            (iv) Neither the Depositor nor any prior holder of the Mortgage or
      the related Mortgage Note has modified the Mortgage or the related
      Mortgage Note in any material respect, satisfied, canceled or subordinated
      the Mortgage in whole or in part, released the Mortgaged Property in whole
      or in part from the lien of the Mortgage, or executed any instrument of
      release, cancellation, modification or satisfaction, except in each case
      as is reflected in an agreement delivered to the Trustee or the Custodian
      pursuant to Section 2.01(a);

            (v) All taxes, governmental assessments, insurance premiums, and
      water, sewer and municipal charges, which previously became due and owing
      have been paid, or an escrow of funds has been established, to the extent
      permitted by law, in an amount sufficient to pay for every such item which
      remains unpaid; and the Depositor has not advanced funds, or received any
      advance of funds by a party other than the Mortgagor, directly or
      indirectly (except pursuant to any Subsidy Loan arrangement) for the
      payment of any amount required by the Mortgage, except for interest
      accruing from the date of the Mortgage Note or date of disbursement of the
      Mortgage Loan proceeds, whichever is later, to the day which precedes by
      thirty days the first Due Date under the related Mortgage Note;

            (vi) The Mortgaged Property is undamaged by water, fire, earthquake,
      earth movement other than earthquake, windstorm, flood, tornado or similar
      casualty (excluding casualty from the presence of hazardous wastes or
      hazardous substances, as to which the Depositor makes no representations),
      in a manner which would adversely affect the value of the Mortgaged
      Property as security for the Mortgage Loan or the use for which the
      premises were intended and to the best of the Depositor's knowledge, there
      is no proceeding pending or threatened for the total or partial
      condemnation of the Mortgaged Property;

            (vii) The Mortgaged Property is free and clear of all mechanics' and
      materialmen's liens or liens in the nature thereof; provided, however,
      that this warranty shall be deemed not to have been made at the time of
      the initial issuance of the Certificates if a title policy affording, in
      substance, the same protection afforded by this warranty is furnished to
      the Trustee by the Depositor;

            (viii) Except for Mortgage Loans secured by Co-op Shares and
      Mortgage Loans secured by residential long-term leases, the Mortgaged
      Property consists of a fee simple estate in real property; all of the
      improvements which are included for the purpose of determining the
      appraised value of the Mortgaged Property lie wholly within the boundaries
      and building restriction lines of such property and no improvements on
      adjoining properties encroach upon the Mortgaged Property (unless insured
      against under the related title insurance policy); and to the best of the
      Depositor's knowledge, the Mortgaged Property and all improvements thereon
      comply with all requirements of any applicable zoning and subdivision laws
      and ordinances;

            (ix) The Mortgage Loan meets, or is exempt from, applicable state,
      federal or local laws, regulations and other requirements, pertaining to
      usury, and the Mortgage Loan is not usurious;

            (x) To the best of the Depositor's knowledge, all inspections,
      licenses and certificates required to be made or issued with respect to
      all occupied portions of the Mortgaged Property and, with respect to the
      use and occupancy of the same, including, but not limited to, certificates
      of occupancy and fire underwriting certificates, have been made or
      obtained from the appropriate authorities;

            (xi) All payments required to be made up to the Due Date immediately
      preceding the Cut-Off Date for such Mortgage Loan under the terms of the
      related Mortgage Note have been made and no Mortgage Loan had more than
      one delinquency in the 12 months preceding the Cut-Off Date;

            (xii) The Mortgage Note, the related Mortgage and other agreements
      executed in connection therewith are genuine, and each is the legal, valid
      and binding obligation of the maker thereof, enforceable in accordance
      with its terms, except as such enforcement may be limited by bankruptcy,
      insolvency, reorganization or other similar laws affecting the enforcement
      of creditors' rights generally and by general equity principles
      (regardless of whether such enforcement is considered in a proceeding in
      equity or at law); and, to the best of the Depositor's knowledge, all
      parties to the Mortgage Note and the Mortgage had legal capacity to
      execute the Mortgage Note and the Mortgage and each Mortgage Note and
      Mortgage has been duly and properly executed by the Mortgagor;

            (xiii) Each Mortgage Loan at the time it was originated complied in
      all material respects with applicable federal, state and local laws
      including, without limitation, truth-in-lending, real estate settlement
      procedures, consumer credit protection, equal credit opportunity,
      predatory and abusive lending laws and disclosure laws;

            (xiv) The proceeds of the Mortgage Loans have been fully disbursed,
      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
      (except for escrow funds for exterior items which could not be completed
      due to weather and escrow funds for the completion of swimming pools); and
      all costs, fees and expenses incurred in making, closing or recording the
      Mortgage Loan have been paid, except recording fees with respect to
      Mortgages not recorded as of the Closing Date;

            (xv) The Mortgage Loan (except any Mortgage Loan secured by a
      Mortgaged Property located in any jurisdiction, as to which an opinion of
      counsel of the type customarily rendered in such jurisdiction in lieu of
      title insurance is instead received) is covered by an American Land Title
      Association mortgagee 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 insuring
      the originator, its successors and assigns, as to the first priority lien
      of the Mortgage in the original principal amount of the Mortgage Loan and
      subject only to (A) the lien of current real property taxes and
      assessments not yet due and payable, (B) covenants, conditions and
      restrictions, rights of way, easements and other matters of public record
      as of the date of recording of such Mortgage acceptable to mortgage
      lending institutions in the area in which the Mortgaged Property is
      located or specifically referred to in the appraisal performed in
      connection with the origination of the related Mortgage Loan, (C) liens
      created pursuant to any federal, state or local law, regulation or
      ordinance affording liens for the costs of clean-up of hazardous
      substances or hazardous wastes or for other environmental protection
      purposes and (D) such other matters to which like properties are commonly
      subject which do not individually, or in the aggregate, materially
      interfere with the benefits of the security intended to be provided by the
      Mortgage; the Depositor is the sole insured of such mortgagee title
      insurance policy, the assignment to the Trustee of the Depositor's
      interest in such mortgagee title insurance policy does not require any
      consent of or notification to the insurer which has not been obtained or
      made, such mortgagee title insurance policy is in full force and effect
      and will be in full force and effect and inure to the benefit of the
      Trustee, no claims have been made under such mortgagee title insurance
      policy, and no prior holder of the related Mortgage, including the
      Depositor, has done, by act or omission, anything which would impair the
      coverage of such mortgagee title insurance policy;

            (xvi) The Mortgaged Property securing each Mortgage Loan is insured
      by an insurer acceptable to Fannie Mae or Freddie Mac against loss by fire
      and such hazards as are covered under a standard extended coverage
      endorsement, in an amount which is not less than the lesser of 100% of the
      insurable value of the Mortgaged Property and the outstanding principal
      balance of the Mortgage Loan, but in no event less than the minimum amount
      necessary to fully compensate for any damage or loss on a replacement cost
      basis; if the Mortgaged Property is a condominium unit, it is included
      under the coverage afforded by a blanket policy for the project; if upon
      origination of the Mortgage Loan, the improvements on the Mortgaged
      Property were in an area identified in the Federal Register by the Federal
      Emergency Management Agency as having special flood hazards, a flood
      insurance policy meeting the requirements of the current guidelines of the
      Federal Insurance Administration is in effect with a generally acceptable
      insurance carrier, in an amount representing coverage not less than the
      least of (A) the outstanding principal balance of the Mortgage Loan, (B)
      the full insurable value of the Mortgaged Property and (C) the maximum
      amount of insurance which was available under the National Flood Insurance
      Act of 1968, as amended; and each Mortgage obligates the Mortgagor
      thereunder to maintain all such insurance at the Mortgagor's cost and
      expense;

            (xvii) To the best of the Depositor's knowledge, 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 of acceleration;
      the Depositor has not waived any default, breach, violation or event of
      acceleration; and no foreclosure action is currently threatened or has
      been commenced with respect to the Mortgage Loan;

            (xviii) No Mortgage Note or Mortgage is subject to any right of
      rescission, set-off, counterclaim or defense, including the defense of
      usury, nor will the operation of any of the terms of the Mortgage Note or
      Mortgage, or the exercise of any right thereunder, render the Mortgage
      Note or Mortgage unenforceable, in whole or in part, or subject it 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;

            (xix) Each Mortgage Note (other than with respect to any Balloon
      Loans) is payable in monthly payments, resulting in complete amortization
      of the Mortgage Loan over a term of not more than 360 months;

            (xx) Each 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, including realization by judicial foreclosure (subject to any
      limitation arising from any bankruptcy, insolvency or other law for the
      relief of debtors), and there is no homestead or other exemption available
      to the Mortgagor which would interfere with such right of foreclosure;

            (xxi) To the best of the Depositor's knowledge, no Mortgagor is a
      debtor in any state or federal bankruptcy or insolvency proceeding;

            (xxii) Each Mortgaged Property is located in the United States and
      consists of a one- to four-unit residential property, which may include a
      detached home, townhouse, condominium unit or a unit in a planned unit
      development or, in the case of Mortgage Loans secured by Co-op Shares,
      leases or occupancy agreements;

            (xxiii) The Mortgage Loan is a "qualified mortgage" within the
      meaning of Section 860G(a)(3) of the Code;

            (xxiv) With respect to each Mortgage where a lost note affidavit has
      been delivered to the Custodian in place of the related Mortgage Note, the
      related Mortgage Note is no longer in existence;

            (xxv) In the event that the Mortgagor is an inter vivos "living"
      trust, (i) such trust is in compliance with Fannie Mae or Freddie Mac
      standards for inter vivos trusts and (ii) holding title to the Mortgaged
      Property in such trust will not diminish any rights as a creditor
      including the right to full title to the Mortgaged Property in the event
      foreclosure proceedings are initiated;

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

            (xxvii) No Mortgage Loan is a "high cost" loan as defined under any
      federal, state or local law applicable to such Mortgage Loan at the time
      of its origination;

            (xxviii) No Mortgage Loan is serviced by the Trustee or an affiliate
      of the Trustee; and

            (xxix) No Mortgage Loan (other than a Mortgage Loan that is a New
      Jersey covered purchase loan) is a High Cost Loan or Covered Loan, as
      applicable (as such terms are defined in the then current S&P's LEVELS(R)
      Glossary which is now Version 5.7, Appendix E) and no Mortgage Loan
      originated on or after October 1, 2002 through March 6, 2003 is governed
      by the Georgia Fair Lending Act.

            Notwithstanding the foregoing, no representations or warranties are
made by the Depositor as to the environmental condition of any Mortgaged
Property; the absence, presence or effect of hazardous wastes or hazardous
substances on any Mortgaged Property; any casualty resulting from the presence
or effect of hazardous wastes or hazardous substances on, near or emanating from
any Mortgaged Property; the impact on Certificateholders of any environmental
condition or presence of any hazardous substance on or near any Mortgaged
Property; or the compliance of any Mortgaged Property with any environmental
laws, nor is any agent, person or entity otherwise affiliated with the Depositor
authorized or able to make any such representation, warranty or assumption of
liability relative to any Mortgaged Property. In addition, no representations or
warranties are made by the Depositor with respect to the absence or effect of
fraud in the origination of any Mortgage Loan.

            It is understood and agreed that the representations and warranties
set forth in this Section 2.03(b) shall survive delivery of the respective Owner
Mortgage Loan Files (and Retained Mortgage Loan Files, if applicable) to the
Custodian and shall inure to the benefit of the Trustee notwithstanding any
restrictive or qualified endorsement or assignment.

            (c) Upon discovery by any of the Depositor, the Master Servicer, the
Trustee or the Custodian that any of the representations and warranties made in
subsection (b) above is not accurate (referred to herein as a "breach") and,
except for a breach of the representation and warranty set forth in subsection
(b)(i), where such breach is a result of the Cut-Off Date Principal Balance of a
Mortgage Loan being greater, by $1,000 or greater, than the Cut-Off Date
Principal Balance of such Mortgage Loan indicated on the Mortgage Loan Schedule,
that such breach materially and adversely affects the interests of the
Certificateholders in the related Mortgage Loan, the party discovering such
breach shall give prompt written notice (not to exceed two days after discovery)
to the other parties to this Agreement and the Custodian (any Custodian being so
obligated under a Custodial Agreement). Within 60 days of the earlier of its
discovery or its receipt of notice of any such breach, the Depositor shall cure
such breach in all material respects or shall either (i) repurchase the Mortgage
Loan or any property acquired in respect thereof from the Trust Estate at a
price equal to the Repurchase Price; provided that if the Depositor elects to
repurchase a Mortgage Loan due to a breach of the representation and warranty
set forth in subsection (b)(i), where such breach is a result of the Cut-Off
Date Principal Balance of a Mortgage Loan being greater, by $1,000 or greater,
than the Cut-Off Date Principal Balance of such Mortgage Loan indicated on the
Mortgage Loan Schedule, such repurchase is only permitted within 90 days of the
Closing Date or (ii) if within two years of the Startup Day, or such other
period permitted by the REMIC Provisions, substitute for such Mortgage Loan in
the manner described in Section 2.02. In addition to the foregoing, if a breach
of the representation set forth in clause (b)(xiii) or (xxix) of this Section
2.03 occurs as a result of a violation of an applicable predatory or abusive
lending law, the Depositor shall reimburse the Trust for all costs and damages
including, but not limited to, reasonable attorneys' fees and costs, incurred by
the Trust as a result of the violation of such law (such amount, the
"Reimbursement Amount"). The Repurchase Price, the Substitution Principal
Amount, if any, plus accrued interest thereon and the other amounts referred to
in Section 2.02, and any Reimbursement Amount shall be deposited in the
Certificate Account. It is understood and agreed, except with respect to the
second preceding sentence, that the obligation of the Depositor to repurchase or
substitute for any Mortgage Loan or property as to which such a breach has
occurred and is continuing shall constitute the sole remedy respecting such
breach available to Certificateholders or the Trustee on behalf of
Certificateholders, and such obligation shall survive until termination of the
Trust Estate hereunder.

            The Trustee shall be responsible for enforcing the Depositor's
obligations under this Section 2.03. If the Trustee receives written notice from
the Master Servicer or the Custodian that such breach is not cured by the
Depositor within 60 days after the Trustee's notice, the Trustee shall enforce
the Depositor's obligation to repurchase such Mortgage Loan or substitute for
such Mortgage Loan in accordance with the provisions of this Section 2.03. In
connection with any substitution permitted by this Section 2.03, the Master
Servicer shall verify that the unpaid principal balance and the Loan-to-Value
Ratio of the Substitute Mortgage Loan satisfy the requirements of this Section
2.03.

            Section 2.04 Execution and Delivery of Certificates.

            The Trustee acknowledges the assignment to it of the Mortgage Loans
and acknowledges the delivery of the Owner Mortgage Loan Files to the Custodian,
on behalf of the Trustee. The Paying Agent, concurrently with such delivery, has
executed and delivered to or upon the order of the Depositor, in exchange for
the Mortgage Loans, together with all other assets included in the definition of
"Trust Estate," receipt of which is hereby acknowledged, Certificates in
authorized denominations which evidence ownership of the entire Trust Estate.

            Section 2.05 Designation of Certificates; Designation of Startup Day
and Latest Possible Maturity Date.

            The Depositor hereby designates the Classes of Class A Certificates
(other than the Exchangeable Certificates and the Residual Certificate) and the
Classes of Class B Certificates as classes of "regular interests" and the Class
A-R Certificate as the single class of "residual interest" in the REMIC for the
purposes of Code Sections 860G(a)(1) and 860G(a)(2), respectively. The Closing
Date is hereby designated as the "Startup Day" of the REMIC within the meaning
of Code Section 860G(a)(9). The "latest possible maturity date" of the regular
interests in the REMIC is June 25, 2037 for purposes of Code Section 860G(a)(1).

                                  ARTICLE III

                  ADMINISTRATION OF THE TRUST ESTATE; SERVICING
                              OF THE MORTGAGE LOANS

            Section 3.01 Certificate Account.

            (a) The Master Servicer shall establish and maintain a Certificate
Account for the deposit of funds received by the Master Servicer with respect to
the Mortgage Loans serviced by each Servicer pursuant to each of the Servicing
Agreements. Such account shall be maintained as an Eligible Account. The Master
Servicer shall give notice to each Servicer and the Depositor of the location of
the Certificate Account and of any change in the location thereof.

            (b) The Master Servicer shall deposit into the Certificate Account
on the day of receipt thereof all amounts received by it from any Servicer
pursuant to any of the Servicing Agreements and amounts received from draws on
any Letters of Credit and shall, in addition, deposit into the Certificate
Account the following amounts, in the case of amounts specified in clauses (i)
and (iii), not later than the Business Day preceding the Distribution Date on
which such amounts are required to be distributed to Certificateholders and, in
the case of the amounts specified in clause (ii), not later than the Business
Day next following the day of receipt and posting by the Master Servicer:

            (i) Periodic Advances pursuant to Section 3.03(a) made by the Master
      Servicer or the Trustee, if any and any amounts deemed received by the
      Master Servicer pursuant to Section 3.01(d);

            (ii) in the case of any Mortgage Loan that is repurchased by the
      Depositor pursuant to Section 2.02, 2.03, 3.08 or 9.01 or that is
      auctioned by the Master Servicer pursuant to Section 3.08, the purchase
      price therefor or, where applicable, any Substitution Principal Amount and
      any amounts received in respect of the interest portion of unreimbursed
      Periodic Advances; and

            (iii) any Compensating Interest for such Distribution Date.

            (c) The Master Servicer may cause the funds in the Certificate
Account to be invested in Eligible Investments. No such Eligible Investments
will be sold or disposed of at a gain prior to maturity unless the Master
Servicer has received an Opinion of Counsel or other evidence satisfactory to it
that such sale or disposition will not cause the Trust Estate to be subject to
Prohibited Transactions Tax, otherwise subject the Trust Estate to tax, or cause
the Trust Estate to fail to qualify as a REMIC while any Certificates are
outstanding. Any amounts deposited in the Certificate Account prior to the
Distribution Date may be invested for the account of the Master Servicer and any
investment income thereon shall be additional compensation to the Master
Servicer for services rendered under this Agreement. The amount of any losses
incurred in respect of any such investments shall be deposited in the
Certificate Account by the Master Servicer out of its own funds immediately as
realized, without any right of reimbursement therefor from the Trust Estate.

            (d) For purposes of this Agreement, the Master Servicer will be
deemed to have received from a Servicer on the applicable Remittance Date for
such funds all amounts deposited by such Servicer into the Custodial P&I Account
maintained in accordance with the applicable Servicing Agreement, if such
Custodial P&I Account is not an Eligible Account as defined in this Agreement,
to the extent such amounts are not actually received by the Master Servicer on
such Remittance Date as a result of the bankruptcy, insolvency, receivership or
other financial distress of the depository institution in which such Custodial
P&I Account is being held. To the extent that amounts so deemed to have been
received by the Master Servicer are subsequently remitted to the Master
Servicer, the Master Servicer shall be entitled to retain such amounts.

            Section 3.02 Permitted Withdrawals from the Certificate Account.

            (a) The Master Servicer may, from time to time, make withdrawals
from the Certificate Account for the following purposes (limited, in the case of
Servicer reimbursements, to cases where funds in the respective Custodial P&I
Account are not sufficient therefor):

            (i) to reimburse the Master Servicer, the Trustee or any Servicer
      for Periodic Advances made by the Master Servicer or the Trustee pursuant
      to Section 3.03(a) or any Servicer pursuant to any Servicing Agreement
      with respect to previous Distribution Dates, such right to reimbursement
      pursuant to this subclause (i) being limited to amounts received on or in
      respect of particular Mortgage Loans (including, for this purpose,
      Liquidation Proceeds, REO Proceeds and proceeds from the purchase, sale,
      repurchase or substitution of Mortgage Loans pursuant to Section 2.02,
      2.03, 3.08 or 9.01) respecting which any such Periodic Advance was made;

            (ii) to reimburse any Servicer, the Master Servicer or the Trustee
      for any Periodic Advances determined in good faith to have become
      Nonrecoverable Advances; provided, however, that any portion of
      Nonrecoverable Advances representing Fixed Retained Yield shall be
      reimbursable only from amounts constituting Fixed Retained Yield and not
      from assets of the Trust Estate;

            (iii) to reimburse the Master Servicer or any Servicer from
      Liquidation Proceeds for Liquidation Expenses and for amounts expended by
      the Master Servicer or any Servicer pursuant hereto or to any Servicing
      Agreement, respectively, in good faith in connection with the restoration
      of damaged property or for foreclosure expenses;

            (iv) from any Mortgagor payment on account of interest or other
      recovery (including Net REO Proceeds) with respect to a particular
      Mortgage Loan, to pay the Master Servicing Fee with respect to such
      Mortgage Loan to the Master Servicer;

            (v) to reimburse the Master Servicer, any Servicer or the Trustee
      (or, in certain cases, the Depositor) for expenses incurred by it
      (including taxes paid on behalf of the Trust Estate) and recoverable by or
      reimbursable to it pursuant to Section 3.03(c), Section 6.03, the second
      or third paragraphs of Section 8.06 or the third sentence of Section
      8.13(a) or pursuant to such Servicer's Servicing Agreement, provided such
      expenses are "unanticipated" within the meaning of the REMIC Provisions;

            (vi) to pay to the Depositor or other purchaser with respect to each
      Mortgage Loan or property acquired in respect thereof that has been
      repurchased or replaced pursuant to Section 2.02, 2.03, 3.08 or 9.01 or
      auctioned pursuant to Section 3.08, all amounts received thereon and not
      required to be distributed as of the date on which the related repurchase
      or purchase price or Scheduled Principal Balance was determined;

            (vii) to remit funds to the Paying Agent in the amounts and in the
      manner provided for herein;

            (viii) to pay to the Master Servicer any interest earned on or
      investment income with respect to funds in the Certificate Account;

            (ix) to pay to the Master Servicer or any Servicer out of
      Liquidation Proceeds allocable to interest the amount of any unpaid Master
      Servicing Fee or Servicing Fee (as adjusted pursuant to the related
      Servicing Agreement) and any unpaid assumption fees, late payment charges
      or other Mortgagor charges on the related Mortgage Loan;

            (x) to pay to the Master Servicer as additional master servicing
      compensation any Liquidation Profits which a Servicer is not entitled to
      pursuant to the applicable Servicing Agreement;

            (xi) to withdraw from the Certificate Account any amount deposited
      in the Certificate Account that was not required to be deposited therein;

            (xii) to clear and terminate the Certificate Account pursuant to
      Section 9.01; and

            (xiii) to pay to Wells Fargo Bank from any Mortgagor payment on
      account of interest or other recovery (including Net REO Proceeds) with
      respect to a particular Mortgage Loan, the Fixed Retained Yield, if any,
      with respect to such Mortgage Loan; provided, however, that with respect
      to any payment of interest received by the Master Servicer in respect of a
      Mortgage Loan (whether paid by the Mortgagor or received as Liquidation
      Proceeds, Insurance Proceeds or otherwise) which is less than the full
      amount of interest then due with respect to such Mortgage Loan, only that
      portion of such payment of interest that bears the same relationship to
      the total amount of such payment of interest as the Fixed Retained Yield
      Rate, if any, in respect of such Mortgage Loan bears to the Mortgage
      Interest Rate shall be allocated to the Fixed Retained Yield with respect
      thereto.

            (b) The Master Servicer shall keep and maintain separate accounting,
on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any
payment to and withdrawal from the Certificate Account. The Master Servicer
shall notify the Depositor and the Trustee of the amount, purpose and party paid
pursuant to Section 3.02(a)(v).

            Section 3.03 Advances by Master Servicer and Trustee.

            (a) In the event an Other Servicer fails to make any required
Periodic Advances of principal and interest on a Mortgage Loan as required by
the related Other Servicing Agreement prior to the Business Day preceding the
Distribution Date occurring in the month during which such Periodic Advance is
due, the Master Servicer shall make Periodic Advances to the extent provided
hereby. In the event Wells Fargo Bank in its capacity as Servicer fails to make
any required Periodic Advances of principal and interest on a Mortgage Loan as
required by the Wells Fargo Bank Servicing Agreement prior to the Business Day
preceding the Distribution Date occurring in the month during which such
Periodic Advance is due, the Trustee shall, to the extent required by Section
8.14, make such Periodic Advance to the extent provided hereby, provided that
the Trustee has previously received the certificate of the Master Servicer
described in the following sentence. The Master Servicer shall certify to the
Trustee with respect to any such Distribution Date (i) the amount of Periodic
Advances required of Wells Fargo Bank in its capacity as Servicer or such Other
Servicer, as the case may be, (ii) the amount actually advanced by Wells Fargo
Bank in its capacity as Servicer or such Other Servicer, (iii) the amount that
the Trustee or Master Servicer is required to advance hereunder and (iv) whether
the Master Servicer has determined that it reasonably believes that such
Periodic Advance is a Nonrecoverable Advance. Amounts advanced by the Trustee or
Master Servicer shall be deposited in the Certificate Account on the Business
Day preceding the related Distribution Date. Notwithstanding the foregoing,
neither the Master Servicer nor the Trustee will be obligated to make a Periodic
Advance that it reasonably believes to be a Nonrecoverable Advance. The Trustee
may conclusively rely for any determination to be made by it hereunder upon the
determination of the Master Servicer as set forth in its certificate.

            (b) To the extent an Other Servicer fails to make an advance on
account of the taxes or insurance premiums with respect to a Mortgage Loan
required pursuant to the related Other Servicing Agreement, the Master Servicer
shall, if the Master Servicer has actual knowledge of such failure of the
Servicer, advance such funds and take such steps as are necessary to pay such
taxes or insurance premiums. To the extent Wells Fargo Bank in its capacity as
Servicer fails to make an advance on account of the taxes or insurance premiums
with respect to a Mortgage Loan required pursuant to the Wells Fargo Bank
Servicing Agreement, the Master Servicer shall, if the Master Servicer knows of
such failure of Wells Fargo Bank in its capacity as Servicer, certify to the
Trustee that such failure has occurred. Upon receipt of such certification, the
Trustee shall advance such funds and take such steps as are necessary to pay
such taxes or insurance premiums.

            (c) The Master Servicer and the Trustee shall each be entitled to be
reimbursed from the Certificate Account for any Periodic Advance made by it
under Section 3.03(a) to the extent described in Section 3.02(a)(i) and (a)(ii).
The Master Servicer and the Trustee shall be entitled to be reimbursed pursuant
to Section 3.02(a)(v) for any advance by it pursuant to Section 3.03(b). The
Master Servicer shall diligently pursue restoration of such amount to the
Certificate Account from the related Servicer. The Master Servicer shall, to the
extent it has not already done so, upon the request of the Trustee, withdraw
from the Certificate Account and remit to the Trustee any amounts to which the
Trustee is entitled as reimbursement pursuant to Section 3.02 (a)(i), (ii) and
(v).

            (d) Except as provided in Section 3.03(a) and (b), neither the
Master Servicer nor the Trustee shall be required to pay or advance any amount
which any Servicer was required, but failed, to deposit in the Certificate
Account.

            Section 3.04 Custodian to Cooperate; Release of Owner Mortgage Loan
Files and Retained Mortgage Loan Files.

            In connection with the deposit by a Servicer into the Certificate
Account of the proceeds from a Liquidated Loan or of a Prepayment in Full, the
Master Servicer or applicable Servicer shall confirm that all amounts required
to be remitted to the Certificate Account in connection with such Mortgage Loan
have been so deposited, and the Master Servicer or applicable Servicer shall
deliver two copies of any related Request for Release to the Custodian. The
Custodian shall, within five Business Days of its receipt of such a Request for
Release, release the related Owner Mortgage Loan File (and Retained Mortgage
Loan File, if applicable) to the Master Servicer or such Servicer, as requested
by the Master Servicer or such Servicer. No expenses incurred in connection with
any instrument of satisfaction or deed of reconveyance shall be chargeable to
the Certificate Account.

            From time to time and as appropriate for the servicing or
foreclosure of any Mortgage Loan, including but not limited to, collection under
any insurance policies, or to effect a partial release of any Mortgaged Property
from the lien of the Mortgage, the Servicer of such Mortgage Loan shall deliver
to the Master Servicer or Custodian two copies of a Request for Release. Upon
the Master Servicer's receipt of any such Request for Release, the Master
Servicer shall promptly forward such request in hard copy or in electronic
format acceptable to the Custodian. The Custodian shall, within five Business
Days, release the related Owner Mortgage Loan File (and Retained Mortgage Loan
File, if applicable) to the Master Servicer or such Servicer. Any such Request
for Release shall obligate the Master Servicer or such Servicer, as the case may
be, to return the Owner Mortgage Loan File (and Retained Mortgage Loan File, if
applicable) to the Custodian by the sixtieth day following the release thereof,
unless (i) the Mortgage Loan has been liquidated and the Liquidation Proceeds
relating to the Mortgage Loan have been deposited in the Certificate Account or
(ii) the Owner Mortgage Loan File (and Retained Mortgage Loan File, if
applicable) or such document 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. Upon receipt of two
copies of a Request for Release stating that such Mortgage Loan was liquidated
and that all amounts received or to be received in connection with such
liquidation which are required to be deposited into the Certificate Account have
been so deposited, or that such Mortgage Loan has become an REO Mortgage Loan,
the Custodian shall amend its records.

            Upon the occurrence of the event specified in clause (ii) of the
preceding paragraph, the Trustee shall execute and deliver to the Master
Servicer or such Servicer, as directed by the Master Servicer, court pleadings,
requests for trustee's sale or other documents necessary to the foreclosure or
trustee's sale in respect of a Mortgaged Property or to any legal action brought
to obtain judgment against any Mortgagor on the Mortgage Note or Mortgage or to
obtain a deficiency judgment, or to enforce any other remedies or rights
provided by the Mortgage Note or Mortgage or otherwise available at law or in
equity. Each such certification shall include a request that such pleadings or
documents be executed by the Trustee and a statement as to the reason such
documents or pleadings are required and that the execution and delivery thereof
by the Trustee will not invalidate or otherwise affect the lien of the Mortgage,
except for the termination of such a lien upon completion of the foreclosure
proceeding or trustee's sale.

            Section 3.05 Annual Compliance Statements.

            The Master Servicer shall deliver in electronic form, or otherwise
make available to the Depositor and the Trustee, and the Master Servicer shall
cause each Additional Master Servicer engaged by it and each Servicer to
deliver, in electronic form, or otherwise make available, to the Master
Servicer, the Trustee and each Rating Agency on or before March 5 of each year
or if such day is not a Business Day, the next Business Day (with a 10 calendar
day cure period, but in no event later than March 15), commencing in March 2008,
a copy of a certificate (followed by a hard copy to the party or parties
receiving such certificate within 10 calendar days) in the form required by Item
1123 of Regulation AB, to the effect that (i) an authorized officer of the
Master Servicer, the Additional Master Servicer or the applicable Servicer, as
the case may be, has reviewed (or a review has been made under his or her
supervision of) such party's activities under this Agreement or the applicable
Servicing Agreement, in the case of a Servicer, or such other applicable
agreement in the case of an Additional Master Servicer, during the prior
calendar year or portion thereof and (ii) to the best of such officer's
knowledge, based on such review, such party has fulfilled all of its obligations
under this Agreement or the applicable Servicing Agreement, in the case of a
Servicer, or such other applicable agreement in the case of an Additional Master
Servicer, in all material respects throughout the prior calendar year or portion
thereof or, if there has been a failure to fulfill any such obligation in any
material respect, specifying each such failure known to such officer and the
nature and status thereof. If any of the certificates delivered pursuant to this
Section 3.05 disclose that there has been a failure to fulfill any obligation in
any material respect then the Master Servicer shall promptly notify the
Depositor and forward a copy of such certificate to the Depositor, and the
Depositor shall review such certificate and, if applicable, consult with the
Master Servicer as to the nature of any failure to fulfill any obligation under
this Agreement or the applicable Servicing Agreement, in the case of a Servicer,
or such other applicable agreement in the case of an Additional Master Servicer,
in any material respect.

            Section 3.06 Title, Management and Disposition of Any REO Mortgage
Loan.

            The Master Servicer shall enforce the obligations of the applicable
Servicer to administer each REO Mortgage Loan at all times so that each REO
Mortgage Loan qualifies as "foreclosure property" under the REMIC Provisions and
that it does not earn any "net income from foreclosure property" which is
subject to tax under the REMIC Provisions. In the event that a Servicer is
unable to dispose of any REO Mortgage Loan within the period mandated by each of
the Servicing Agreements, the Master Servicer shall monitor such Servicer to
verify that such REO Mortgage Loan is auctioned to the highest bidder within the
period so specified. In the event of any such sale of a REO Mortgage Loan, the
Custodian shall, at the written request of the Master Servicer and upon being
supported with appropriate forms therefor, within five Business Days of the
deposit by the Master Servicer of the proceeds of such sale or auction into the
Certificate Account, release or cause to be released to the entity identified by
the Master Servicer the related Owner Mortgage Loan File, Retained Mortgage Loan
File, if applicable, and Servicer Mortgage Loan File and shall execute and
deliver such instruments of transfer or assignment, in each case without
recourse, as shall be necessary to vest in the auction purchaser title to the
REO Mortgage Loan and the Custodian shall have no further responsibility with
regard to such Owner Mortgage Loan File, Retained Mortgage Loan File, if
applicable, or Servicer Mortgage Loan File. Neither the Trustee, the Master
Servicer nor any Servicer, acting on behalf of the Trust Estate, shall provide
financing from the Trust Estate to any purchaser of an REO Mortgage Loan.

            Section 3.07 Amendments to Servicing Agreements, Modification of
Standard Provisions.

            (a) Subject to the prior written consent of the Trustee pursuant to
Section 3.07(b) and the prior written consent of the Depositor, the Master
Servicer may, from time to time, to the extent permitted by the applicable
Servicing Agreement, make such modifications and amendments to such Servicing
Agreement as the Master Servicer deems necessary or appropriate to confirm or
carry out more fully the intent and purpose of such Servicing Agreement and the
duties, responsibilities and obligations to be performed by the applicable
Servicer thereunder. Such modifications may only be made if they are consistent
with the REMIC Provisions, as evidenced by an Opinion of Counsel. Prior to the
issuance of any modification or amendment, the Master Servicer shall deliver to
the Trustee and the Depositor such Opinion of Counsel and an Officer's
Certificate setting forth (i) the provision that is to be modified or amended,
(ii) the modification or amendment that the Master Servicer desires to issue and
(iii) the reason or reasons for such proposed amendment or modification.

            (b) The Trustee shall consent to any amendment or supplement to a
Servicing Agreement proposed by the Master Servicer pursuant to Section 3.07(a),
which consent and amendment shall not require the consent of any
Certificateholder if it is (i) for the purpose of curing any mistake or
ambiguity, to further effect or protect the rights of the Certificateholders or
(ii) for any other purpose, provided such amendment or supplement for such other
purpose cannot reasonably be expected to adversely affect Certificateholders.
The lack of reasonable expectation of an adverse effect on Certificateholders
may be established through the delivery to the Trustee of (i) an Opinion of
Counsel to such effect or (ii) written notification from each Rating Agency to
the effect that such amendment or supplement will not result in reduction of the
current rating assigned by that Rating Agency to the Certificates.
Notwithstanding the two immediately preceding sentences, the Trustee may, in its
discretion, decline to enter into or consent to any such supplement or amendment
if its own rights, duties or immunities shall be adversely affected.

            (c)(i) Notwithstanding anything to the contrary in this Section
3.07, the Master Servicer from time to time may, without the consent of any
Certificateholder or the Trustee, enter into an amendment (A) to an Other
Servicing Agreement for the purpose of (i) eliminating or reducing Month End
Interest and (ii) providing for the remittance of Full Unscheduled Principal
Receipts by the applicable Servicer to the Master Servicer not later than the
24th day of each month (or if such day is not a Business Day, on the previous
Business Day), (B) to the Wells Fargo Bank Servicing Agreement for the purpose
of changing the applicable Remittance Date to the 18th day of each month (or if
such day is not a Business Day, on the previous Business Day) or (C) to a
Servicing Agreement for the purpose of effecting or facilitating compliance by
the applicable Servicer with Regulation AB or to conform a Servicing Agreement
to industry practices relating to Regulation AB.

            (ii) The Master Servicer may direct Wells Fargo Bank in its capacity
as Servicer to enter into an amendment to the Wells Fargo Bank Servicing
Agreement for the purposes described in Section 3.07(c)(i)(B) or (C).

            Section 3.08 Oversight of Servicing.

            The Master Servicer shall supervise, monitor and oversee the
servicing of the Mortgage Loans by each Servicer and the performance by each
Servicer of all services, duties, responsibilities and obligations (including
the obligation to maintain an Errors and Omissions Policy and Fidelity Bond)
that are to be observed or performed by the Servicer under its respective
Servicing Agreement. In performing its obligations hereunder, the Master
Servicer shall act in a manner consistent with Accepted Master Servicing
Practices and in a manner consistent with the terms and provisions of any
insurance policy required to be maintained by the Master Servicer or any
Servicer pursuant to this Agreement or any Servicing Agreement. The Master
Servicer acknowledges that prior to taking certain actions required to service
the Mortgage Loans, each Servicing Agreement provides that the Servicer
thereunder must notify, consult with, obtain the consent of, waiver from, or
otherwise follow the instructions of the Master Servicer. In the case of any
request for waiver from a Servicer, the Master Servicer shall promptly instruct
such Servicer or otherwise respond to such Servicer's request. The Master
Servicer shall not waive compliance by a Servicer with those provisions of its
Servicing Agreement which are required to enable the Depositor and the Master
Servicer to satisfy the Trust's ongoing reporting obligations under the Exchange
Act. In addition, in no event will the Master Servicer instruct such Servicer to
take any action, give any consent to action by such Servicer or waive compliance
by such Servicer with any provision of such Servicer's Servicing Agreement if
any resulting action or failure to act would be inconsistent with the
requirements of the Rating Agencies that rated the Certificates, would be
inconsistent with the requirements of Regulation AB or would otherwise have an
adverse effect on the Certificateholders. Any such action or failure to act
shall be deemed to have an adverse effect on the Certificateholders if such
action or failure to act either results in (i) the downgrading of the rating
assigned by either Rating Agency to the Certificates, (ii) the loss by the Trust
Estate of REMIC status for federal income tax purposes or (iii) the imposition
of any Prohibited Transaction Tax or any federal taxes on either the REMIC or
the Trust Estate. The Master Servicer shall have full power and authority in its
sole discretion to take any action with respect to the Trust Estate as may be
necessary or advisable to avoid the circumstances specified including clause
(ii) or (iii) of the preceding sentence.

            For the purposes of determining whether any modification of a
Mortgage Loan shall be permitted by the Master Servicer, such modification shall
be construed as a substitution of the modified Mortgage Loan for the Mortgage
Loan originally deposited in the Trust Estate if it would be a "significant
modification" within the meaning of Section 1.860G-2(b) of the regulations of
the U.S. Department of the Treasury. No modification shall be approved unless
(i) the modified Mortgage Loan would qualify as a Substitute Mortgage Loan under
Section 2.02 and (ii) with respect to any modification that occurs more than
three months after the Closing Date and is not the result of a default or a
reasonably foreseeable default under the Mortgage Loan, there is delivered to
the Trustee an Opinion of Counsel (at the expense of the party seeking to modify
the Mortgage Loan) to the effect that such modification would not be treated as
giving rise to a new debt instrument for federal income tax purposes as
described in the preceding sentence; provided, however, that no such Opinion of
Counsel need be delivered if the sole purpose of the modification is to reduce
the Monthly Payment on a Mortgage Loan as a result of a Curtailment such that
the Mortgage Loan is fully amortized by its original maturity date.

            During the term of this Agreement, the Master Servicer shall consult
fully with each Servicer as may be necessary from time to time to perform and
carry out the Master Servicer's obligations hereunder and otherwise exercise
reasonable efforts to cause such Servicer to perform and observe the covenants,
obligations and conditions to be performed or observed by it under its Servicing
Agreement.

            The relationship of the Master Servicer to the Trustee under this
Agreement is intended by the parties to be that of an independent contractor and
not that of a joint venturer, partner or agent.

            The Master Servicer shall administer the Trust Estate on behalf of
the Trustee and shall have full power and authority, acting alone or (subject to
the requirements of Section 6.06) through one or more Subcontractors, to do any
and all things in connection with such administration which it may deem
necessary or desirable. Upon the execution and delivery of this Agreement, and
from time to time as may be required thereafter, the Trustee shall furnish the
Master Servicer or its Subcontractors with any powers of attorney and such other
documents as may be necessary or appropriate to enable the Master Servicer to
carry out its administrative duties hereunder.

            The Depositor shall have a limited option to repurchase any
defaulted Mortgage Loan or REO Mortgage Loan during the following time periods:
(i) beginning on the first day of the second month following the month in which
the Master Servicer has reported that a Servicer has initiated foreclosure
proceedings with respect to such a defaulted Mortgage Loan, with such repurchase
option expiring on the last day of such second following month; (ii) beginning
on the first day of the second month following the month in which the Master
Servicer has reported that such defaulted Mortgage Loan has become an REO
Mortgage Loan, with such repurchase option expiring on the last day of such
second following month; and (iii) beginning on the day on which a Servicer
accepts a contractual commitment by a third party to purchase the Mortgaged
Property related to the defaulted Mortgage Loan or REO Mortgage Loan, with such
repurchase option expiring on the earlier of the last day of the month in which
such contractual commitment was accepted by the Servicer or the day immediately
prior to the day on which the closing occurs with respect to such third party
purchase of the Mortgaged Property related to the defaulted Mortgage Loan or REO
Mortgage Loan. The Depositor shall be entitled to repurchase at its option any
Mortgage Loan in the Trust Estate which, pursuant to paragraph 5(b) of the
Mortgage Loan Purchase Agreement, Wells Fargo Bank requests the Depositor to
repurchase and to sell to Wells Fargo Bank to facilitate the exercise of Wells
Fargo Bank's rights against the originator or a prior holder of such Mortgage
Loan. The purchase price for any Mortgage Loan repurchased pursuant to this
paragraph shall be the Repurchase Price. Upon the receipt of such Repurchase
Price, the Master Servicer shall provide to the Trustee the certification
required by Section 3.04 and the Trustee and the Custodian, if any, shall
promptly release to the Depositor the Owner Mortgage Loan File and Retained
Mortgage Loan File, if applicable, relating to the Mortgage Loan being
repurchased.

            In the event that (i) the Master Servicer determines at any time
that, notwithstanding the representations and warranties set forth in Section
2.03(b), any Mortgage Loan is not a "qualified mortgage" within the meaning of
Section 860G of the Code and (ii) the Trustee is unable to enforce the
obligation of the Depositor to purchase such Mortgage Loan pursuant to Section
2.02 within two months of such determination, the Master Servicer shall cause
such Mortgage Loan to be auctioned to the highest bidder and sold out of the
Trust Estate no later than the date 90 days after such determination. In the
event of any such sale of a Mortgage Loan, the Custodian shall, at the written
request of the Master Servicer and upon being supported with appropriate forms
therefor, within five Business Days of the deposit by the Master Servicer of the
proceeds of such auction into the Certificate Account, release or cause to be
released to the entity identified by the Master Servicer the related Owner
Mortgage Loan File, Retained Mortgage Loan File, if applicable, and Servicer
Mortgage Loan File and shall execute and deliver such instruments of transfer or
assignment, in each case without recourse, as shall be necessary to vest in the
auction purchaser title to the Mortgage Loan and the Custodian shall have no
further responsibility with regard to such Owner Mortgage Loan File, Retained
Mortgage Loan File, if applicable, or Servicer Mortgage Loan File. None of the
Trustee, the Custodian, the Master Servicer or any Servicer, acting on behalf of
the Trustee, shall provide financing from the Trust Estate to any purchaser of a
Mortgage Loan.

            The Master Servicer, on behalf of the Trustee, shall, pursuant to
the Servicing Agreements, object to the foreclosure upon, or other related
conversion of the ownership of, any Mortgaged Property by the related Servicer
if (i) the Master Servicer believes such Mortgaged Property may be contaminated
with or affected by hazardous wastes or hazardous substances or (ii) such
Servicer does not agree to administer such Mortgaged Property, once the related
Mortgage Loan becomes an REO Mortgage Loan, in a manner which would not result
in a federal tax being imposed upon the Trust Estate or the REMIC.

            At the direction of the Depositor, the Master Servicer may enter
into a special servicing agreement with an unaffiliated holder of 100%
Percentage Interest of a Class of Class B Certificates or a holder of a class of
securities representing interests in the Class B Certificates and/or other
subordinated mortgage pass-through certificates (such entity, a "Special
Servicer"), such agreement (a "Special Servicing Agreement") to be substantially
in the form of Exhibit M hereto or subject to each Rating Agency's
acknowledgment that the ratings of the Certificates in effect immediately prior
to the entering into of such agreement would not be qualified, downgraded or
withdrawn and the Certificates would not be placed on credit review status
(except for possible upgrading) as a result of such agreement. Any such
agreement may contain provisions whereby such holder may (a) purchase any
Mortgage Loans that are more than 180 days delinquent and (b) instruct the
Master Servicer to instruct a Servicer to the extent provided in the applicable
Servicing Agreement to commence or delay foreclosure proceedings with respect to
delinquent Mortgage Loans and will contain provisions for the deposit of cash by
the holder that would be available for distribution to Certificateholders if
Liquidation Proceeds are less than they otherwise may have been had the Servicer
acted in accordance with its normal procedures.

            The Master Servicer shall monitor the rating of Wells Fargo &
Company and upon the occurrence of a Document Transfer Event relating to such
rating, shall promptly notify the Depositor, Trustee and Custodian of the
occurrence of such Document Transfer Event.

            Section 3.09 Termination and Substitution of Servicing Agreements.

            Upon the occurrence of any event for which a Servicer may be
terminated pursuant to its Servicing Agreement, the Master Servicer shall
promptly deliver to the Depositor and the Trustee an Officer's Certificate
certifying that an event has occurred which may justify termination of such
Servicing Agreement, describing the circumstances surrounding such event and
recommending what action should be taken by the Trustee with respect to such
Servicer. If the Master Servicer recommends that such Servicing Agreement be
terminated, the Master Servicer's certification must state that the breach is
material and not merely technical in nature. Based upon such certification, the
Master Servicer, or if provided by the applicable Other Servicing Agreement and
upon written direction of the Master Servicer, the Trustee, shall promptly
terminate such Other Servicing Agreement. The Trustee shall terminate the Wells
Fargo Bank Servicing Agreement in accordance with the provisions of Article 19
thereof. The Master Servicer shall indemnify the Trustee and hold it harmless
from and against any and all claims, liabilities, costs and expenses (including,
without limitation, reasonable attorneys' fees) arising out of, or assessed
against the Trustee in connection with termination of a Servicing Agreement at
the direction of the Master Servicer except to the extent that such claims,
liabilities, costs and expenses are incurred as a result of the bad faith,
willful misfeasance or gross negligence of the Trustee in the performance of its
obligations hereunder. To the extent that the costs and expenses (including any
amounts paid by the Master Servicer pursuant to the immediately preceding
sentence) of the Master Servicer related to any termination of an Other
Servicer, appointment of a successor servicer to an Other Servicer or the
transfer and assumption of servicing by the Master Servicer with respect to any
Other Servicing Agreement (including, without limitation, (i) all legal costs
and expenses and all due diligence costs and expenses associated with an
evaluation of the potential termination of an Other Servicer as a result of an
event of default by such Other Servicer, (ii) all costs and expenses associated
with the complete transfer of servicing, including all servicing files and all
servicing data and the completion, correction or manipulation of such servicing
data as may be required by the successor servicer to correct any errors or
insufficiencies in the servicing data or otherwise to enable the successor
servicer to service the Mortgage Loans in accordance with the related Other
Servicing Agreement and (iii) any costs incurred by the Trustee in connection
with a servicing transfer) are not fully and timely reimbursed by the terminated
Other Servicer, the Master Servicer shall be entitled to reimbursement of such
costs and expenses from the Certificate Account. To the extent that the costs
and expenses of the Trustee related to any termination of Wells Fargo Bank, as a
Servicer under the Wells Fargo Bank Servicing Agreement, appointment of a
successor to Wells Fargo Bank as a Servicer or the transfer and assumption of
servicing by the Trustee with respect to the Wells Fargo Bank Servicing
Agreement (including, without limitation, (i) all legal costs and expenses and
all due diligence costs and expenses associated with an evaluation of the
potential termination of Wells Fargo Bank as a Servicer as a result of an event
of default by Wells Fargo Bank as Servicer and (ii) all costs and expenses
associated with the complete transfer of servicing, including all servicing
files and all servicing data and the completion, correction or manipulation of
such servicing data as may be required by the successor servicer to correct any
errors or insufficiencies in the servicing data or otherwise to enable the
successor servicer to service the Mortgage Loans in accordance with the Wells
Fargo Bank Servicing Agreement) are not fully and timely reimbursed by Wells
Fargo Bank as a Servicer, the Trustee shall be entitled to reimbursement of such
costs and expenses from the Certificate Account. If the Master Servicer or
Trustee terminates an Other Servicing Agreement, the Trustee may enter into a
substitute Servicing Agreement with the Master Servicer or, at the Master
Servicer's nomination, with another mortgage loan service company acceptable to
the Trustee, the Master Servicer and each Rating Agency under which the Master
Servicer or such substitute servicer, as the case may be, shall assume, satisfy,
perform and carry out all liabilities, duties, responsibilities and obligations
that are to be, or otherwise were to have been, satisfied, performed and carried
out by such Servicer under such terminated Servicing Agreement. If the Trustee
terminates the Wells Fargo Bank Servicing Agreement, the Trustee shall enter
into a substitute Servicing Agreement with another mortgage loan service company
acceptable to the Trustee and each Rating Agency under which such substitute
servicer shall assume, satisfy, perform and carry out all liabilities, duties,
responsibilities and obligations that are to be, or otherwise were to have been,
satisfied, performed and carried out by Wells Fargo Bank, in its capacity as
Servicer, under such terminated Servicing Agreement. It is understood and
acknowledged by the parties hereto that there will be a period of transition not
to exceed ninety (90) days before the servicing functions can be transferred to
such substitute servicer. Until such time as the Trustee enters into a
substitute servicing agreement with respect to the Mortgage Loans previously
serviced by an Other Servicer and the transition period relating to the transfer
of such servicing expires, the Master Servicer shall assume, satisfy, perform
and carry out all obligations which otherwise were to have been satisfied,
performed and carried out by an Other Servicer under its terminated Servicing
Agreement. However, in no event shall the Master Servicer be deemed to have
assumed the obligations of a Servicer to advance payments of principal and
interest on a delinquent Mortgage Loan in excess of the Master Servicer's
independent Periodic Advance obligation under Section 3.03 of this Agreement. As
compensation for the Master Servicer of any servicing obligations fulfilled or
assumed by the Master Servicer, the Master Servicer shall be entitled to any
servicing compensation to which a Servicer would have been entitled if the
Servicing Agreement with such Servicer had not been terminated.

            Section 3.10 Application of Net Liquidation Proceeds.

            For all purposes under this agreement, Net Liquidation Proceeds
received from a Servicer shall be allocated first to accrued and unpaid interest
on the related Mortgage Loan and then to the unpaid principal balance thereof.

            Section 3.11 Assessment of Servicing Compliance; Registered Public
Accounting Firm Attestation Reports.

            (a) The Master Servicer, at its own expense, shall furnish to the
Depositor, and the Trustee, any Special Servicer (if applicable) and the
Custodian, at their own expense, shall furnish, or otherwise make available, and
shall cause any Servicing Function Participant engaged by any such party to
furnish, and the Master Servicer shall use reasonable effort to cause each
Servicer to furnish with respect to such Servicer and each Servicing Function
Participant engaged by such Servicer and identified to the Master Servicer, at
such party's expense, to the Master Servicer, not later than March 5 of each
year, or if such day is not a Business Day, the next Business Day (with a 10 day
cure period, but in no event later than March 15), commencing in March 2008, a
copy of a report, followed by a hard copy to the Master Servicer within 10
calendar days, signed by an authorized officer of the Master Servicer, the
Trustee, the Custodian, the Servicing Function Participant, the Special Servicer
(if applicable) or the applicable Servicer, as applicable, on assessment of
compliance with, at a minimum, the Relevant Servicing Criteria that contains:

            (i) a statement by such party of its responsibility for assessing
      compliance with the Servicing Criteria applicable to it;

            (ii) a statement that such party used the Servicing Criteria
      applicable to it to assess compliance with the Servicing Criteria;

            (iii) such party's assessment of compliance with the Servicing
      Criteria applicable to it as of and for the preceding fiscal year,
      including, if there had been any material instance of noncompliance with
      the Servicing Criteria applicable to it, identifying each such failure and
      the nature and status thereof; and

            (iv) a statement that a registered public accounting firm has issued
      an attestation report on such party's assessment of compliance with the
      Servicing Criteria applicable to it as of and for the preceding fiscal
      year;

provided, however that no such assessment shall be required with respect to any
Servicing Function Participant who would not be considered a separate "party
participating in the servicing function" for purposes of Item 1122 of Regulation
AB, as then interpreted by the Commission. In the event of any disagreement
among any of the parties hereto regarding the application of the Commission's
interpretation to a particular Servicing Function Participant, the determination
of the Master Servicer shall be binding.

            No later than 30 days following the end of each fiscal year, the
Master Servicer shall forward to the Depositor the name of each Servicing
Function Participant engaged by it and what Relevant Servicing Criteria will be
addressed in the report on assessment of compliance prepared by such Servicing
Function Participant. When the Master Servicer submits its assessments to the
Depositor, it will also at such time include the assessment (and attestation
pursuant to Section 3.11(b)) of each Servicing Function Participant engaged by
it.

            No later than 30 days following the end of each fiscal year, each of
the Trustee, any Special Servicer (if applicable) and the Custodian (so long as
the Custodian is not the Master Servicer) shall forward to the Master Servicer
the name of each Servicing Function Participant engaged by it and what Relevant
Servicing Criteria will be addressed in the report on assessment of compliance
prepared by such Servicing Function Participant. When the Trustee, any Special
Servicer (if applicable) and the Custodian (so long as the Custodian is not the
Master Servicer) submit their assessments to the Master Servicer, each such
party will also at such time include the assessment (and attestation pursuant to
Section 3.11(b)) of each Servicing Function Participant engaged by it.

            The Master Servicer shall confirm that the assessments address the
Relevant Servicing Criteria for each party as set forth on Exhibit R or in the
applicable Servicing Agreement or the applicable Special Servicing Agreement and
shall notify the Depositor of any exceptions and deliver the assessment of
compliance containing such exceptions. Promptly after receipt of each such
report on assessment of compliance, the Depositor shall review each such report
and, if applicable, consult with the Master Servicer, the Trustee, the
Custodian, any Special Servicer (if applicable) and any Servicing Function
Participant as to the nature of any material instance of noncompliance with the
Relevant Servicing Criteria by the Master Servicer, the Trustee, the Custodian,
any Servicer, any Special Servicer (if applicable), or any Servicing Function
Participant engaged by such parties.

            (b) The Master Servicer, at its own expense, shall cause a
registered public accounting firm which is a member of the Institute of
Certified Public Accountants to furnish to the Depositor, and each of the
Trustee, the Custodian and any Special Servicer (if applicable) at their own
expense, shall cause, and shall cause any Servicing Function Participant engaged
by any such party from which an assessment of servicing compliance is required
pursuant to Section 3.11 (a), at such party's expense, to cause, and the Master
Servicer shall use reasonable efforts to cause each Servicer, at such Servicer's
expense, with respect to such Servicer and each Servicing Function Participant
engaged by such Servicer and identified to the Master Servicer, to cause a
registered public accounting firm which is a member of the Institute of
Certified Public Accountants to furnish to the Master Servicer, not later than
March 5 of each year, or if such day is not a Business Day, the next Business
Day (with a 10 calendar day cure period, but in no event later than March 15),
commencing in March 2008, an electronic report (with a hard copy to follow
within 10 calendar days) to the effect that (i) it has obtained a representation
regarding certain matters from the management of such party, which includes an
assertion that such party has complied with the Relevant Servicing Criteria, and
(ii) on the basis of an examination conducted by such firm in accordance with
standards for attestation engagements issued or adopted by the Public Company
Accounting Oversight Board, it is expressing an opinion as to whether such
party's assessment of compliance with the Relevant Servicing Criteria was fairly
stated in all material respects, or it cannot express an overall opinion
regarding such party's assessment of compliance with the Relevant Servicing
Criteria. In the event that an overall opinion cannot be expressed, such
registered public accounting firm shall state in such report why it was unable
to express such an opinion. Such report must be available for general use and
not contain restricted use language. If requested by the Master Servicer or the
Depositor, such report shall contain or be accompanied by a consent of such
accounting firm to inclusion or incorporation of such report in the Depositor's
Registration Statement on Form S-3 relating to the Certificates and the Trust's
Form 10-K.

            Promptly after receipt of such report from the Master Servicer, the
Depositor shall review the report and, if applicable, consult with the Master
Servicer if any such report (i) states that the party's assessment of compliance
was not fairly stated in a material respect or (ii) is unable to state an
overall opinion.

            Promptly after receipt of such report from the Trustee, the
Custodian, the applicable Servicer, the Special Servicer (if applicable), or any
Servicing Function Participant engaged by such parties, the Master Servicer
shall review the report and shall promptly notify the Depositor if any such
report (i) states that the party's assessment of compliance was not fairly
stated in a material respect or (ii) is unable to state an overall opinion and
the Depositor shall promptly review each such report and the Depositor and the
Master Servicer shall consult with the parties to which such report relates.

            The Master Servicer shall make available any report from the Master
Servicer, the Trustee, the Custodian, the applicable Servicer, the Special
Servicer (if applicable), or any Servicing Function Participant furnished
pursuant to Section 3.05 and this Section 3.11, as well as any documents
incorporated by reference into the Prospectus (to the extent such documents are
either in its possession or have been filed with the Commission), to any
Certificateholder requesting such information.

            Section 3.12 Exchange Act Reports.

            (a) Within 15 days after each Distribution Date, the Master Servicer
shall prepare, an authorized officer of the Master Servicer shall sign, and the
Master Servicer shall file with the Commission, on behalf of the Trust, any Form
10-D required by the Exchange Act, in form and substance as required by the
Exchange Act. The Master Servicer shall file each Form 10-D with a copy of the
related Distribution Date Statement attached thereto. Any disclosure in addition
to the Distribution Date Statement that is required to be included on Form 10-D
("Additional Form 10-D Disclosure") shall be reported by the parties set forth
on Exhibit S and directed and approved by the Depositor, and the Master Servicer
will have no duty or liability for any failure hereunder to determine or prepare
any Additional Form 10-D Disclosure (other than with respect to itself) absent
such reporting, direction and approval. If a Form 10-D cannot be filed on time
or if a previously filed Form 10-D needs to be amended, the Master Servicer will
follow the procedures set forth in Section 3.12(d). Promptly (but no later than
1 Business Day) after filing with the Commission, the Master Servicer will make
available on its internet website a final executed copy of each Form 10-D.

            For so long as the Trust is subject to the Exchange Act reporting
requirements, within five (5) calendar days (or, solely in the case of Item 7 of
Exhibit S, the greater of five (5) calendar days or three (3) Business Days)
after the related Distribution Date, the parties identified on Exhibit S shall
(i) provide to the Master Servicer and the Depositor, to the extent known by a
Responsible Officer, in EDGAR-compatible format, or in such other format as
otherwise agreed upon by the Master Servicer and such party, the form and
substance of any Additional Form 10-D Disclosure, if applicable and (ii) include
with such Additional Form 10-D Disclosure, an Additional Disclosure Notification
in the form attached hereto as Exhibit V, and the Depositor will approve, as to
form and substance, or disapprove, as the case may be, the inclusion of the
Additional Form 10-D Disclosure on Form 10-D. The Master Servicer has no duty
under this Agreement to monitor or enforce the performance by the parties listed
on Exhibit S of their duties under this paragraph or proactively solicit or
procure from such parties any Additional Form 10-D Disclosure; except that the
Master Servicer shall enforce the obligations of the Servicers under the
Servicing Agreements. After preparing the Form 10-D, if the Form 10-D contains
any Additional Form 10-D Disclosure, the Master Servicer shall forward
electronically a draft copy of the Form 10-D to the Depositor for review. Each
party to this Agreement acknowledges that the performance by the Master Servicer
of its duties under this Section 3.12(a) relating to the timely preparation and
filing of Form 10-D is contingent upon such parties strictly observing all
applicable deadlines in the performance of their duties under this Section
3.12(a). The Master Servicer shall have no liability for any loss, expense,
damage, claim arising out of or with respect to any failure to properly prepare
and/or timely file such Form 10-D, where such failure results from the Master
Servicer's inability or failure to receive, on a timely basis, any information
from any other party hereto, any Servicer, the Custodian or any Special Servicer
(if applicable) needed to prepare, arrange for execution or file such Form 10-D,
not resulting from its own negligence, bad faith or willful misconduct. The
Depositor will be responsible for any reasonable fees assessed and expenses
incurred by the Master Servicer in connection with including any Additional Form
10-D Disclosure on Form 10-D pursuant to this paragraph.

            (b) Within 90 days after the end of each fiscal year of the Trust or
such earlier date as may be required by the Exchange Act (it being understood
that the fiscal year for the Trust ends on December 31st of each year),
commencing in March 2008, the Master Servicer shall prepare, a senior officer of
the Master Servicer in charge of the master servicing function shall sign, and
the Master Servicer shall file with the Commission, on behalf of the Trust, a
Form 10-K, in form and substance as required by the Exchange Act. Each such Form
10-K shall include the following items, in each case to the extent they have
been delivered to the Master Servicer within the applicable timeframes set forth
in this Agreement, the related Servicing Agreements, the Custodial Agreement or,
if applicable, the Special Servicing Agreement:

            (i) an annual compliance statement for the Master Servicer, any
      Additional Master Servicer and each Servicer, as described under Section
      3.05;

            (ii) (A) the annual reports on assessment of compliance with
      servicing criteria for the Master Servicer, the Trustee, each Servicer,
      the Custodian, any Special Servicer (if applicable), and each Servicing
      Function Participant, as described under Section 3.11(a), and (B) if any
      party's report on assessment of compliance with Servicing Criteria
      described under Section 3.11(a) identifies any material instance of
      noncompliance, disclosure identifying such instance of noncompliance, or
      if any party's report on assessment of compliance with servicing criteria
      described under Section 3.11(a) is not included as an exhibit to such Form
      10-K, disclosure that such report is not included and an explanation of
      why such report is not included;

            (iii) (A) the registered public accounting firm attestation report
      for each of the Master Servicer, the Trustee, each Servicer, the
      Custodian, any Special Servicer (if applicable), and each Servicing
      Function Participant, as described under Section 3.11(b), and (B) if any
      registered public accounting firm attestation report described under
      Section 3.11(b) identifies any material instance of noncompliance,
      disclosure identifying such instance of noncompliance, or if any such
      registered public accounting firm attestation report is not included as an
      exhibit to such Form 10-K, disclosure that such report is not included and
      an explanation of why such report is not included; and

            (iv) a certification, signed by a senior officer of the Master
      Servicer in charge of the master servicing function, in the form attached
      hereto as Exhibit P or in such other form as may be required by Rules
      13a-14 and 15d-14 under the Exchange Act, as applicable, and any
      directives or interpretations thereof by the Commission (the
      "Sarbanes-Oxley Certification").

            Any disclosure or information in addition to (i) through (iv) above
that is required to be included on Form 10-K ("Additional Form 10-K Disclosure")
shall, pursuant to the paragraph immediately below, be reported by the parties
set forth on Exhibit T and directed and approved by the Depositor, and the
Master Servicer will have no duty or liability for any failure hereunder to
determine or prepare any Additional Form 10-K Disclosure (other than with
respect to itself) absent such reporting, direction and approval. If a Form 10-K
cannot be filed on time or if a previously filed Form 10-K needs to be amended,
the Master Servicer will follow the procedures set forth in Section 3.12(d).
Promptly (but no later than 1 Business Day) after filing with the Commission,
the Master Servicer will make available on its internet website a final executed
copy of each Form 10-K.

            No later than March 5 (with a 10 calendar day cure period, but in no
event later than March 15) of each year that the Trust is subject to the
Exchange Act reporting requirements, commencing in March 2008, (i) the parties
identified on Exhibit T shall provide to the Master Servicer and the Depositor,
to the extent known by a Responsible Officer, in EDGAR-compatible format, or in
such other format as otherwise agreed upon by the Master Servicer and such
party, the form and substance of any Additional Form 10-K Disclosure, if
applicable, and (ii) the parties identified on Exhibit T shall include with such
Additional Form 10-K Disclosure, an Additional Disclosure Notification in the
form attached hereto as Exhibit V, and the Depositor will approve, as to form
and substance, or disapprove, as the case may be, the inclusion of the
Additional Form 10-K Disclosure on Form 10-K. The Master Servicer has no duty
under this Agreement to monitor or enforce the performance by the parties listed
on Exhibit T of their duties under this paragraph or proactively solicit or
procure from such parties any Additional Form 10-K Disclosure information;
except that the Master Servicer shall enforce the obligations of the Servicers
under the Servicing Agreements. The Depositor will be responsible for any
reasonable fees and expenses assessed or incurred by the Master Servicer in
connection with including any Additional Form 10-K Disclosure on Form 10-K
pursuant to this paragraph.

            After preparing the Form 10-K, if the Form 10-K contains any
Additional Form 10-K Disclosure, the Master Servicer shall forward
electronically a draft copy of the Form 10-K to the Depositor for review. Each
party to this Agreement acknowledges that the performance by the Master Servicer
of its duties under this Section 3.12(b) relating to the timely preparation and
filing of Form 10-K is contingent upon such parties strictly observing all
applicable timeframes in the performance of their duties under Sections 3.05,
3.11 or this Section 3.12(b). The Master Servicer shall have no liability for
any loss, expense, damage, claim arising out of or with respect to any failure
to properly prepare and/or timely file such Form 10-K, where such failure
results from the Master Servicer's inability or failure to obtain or receive, on
a timely basis, any information from any other party hereto, any Servicer, any
Special Servicer (if applicable) or the Custodian needed to prepare, arrange for
execution or file such Form 10-K, not resulting from its own negligence, bad
faith or willful misconduct.

            (c) Within four (4) Business Days after the occurrence of an event
requiring disclosure on Form 8-K (each such event, a "Reportable Event"), and if
directed by the Depositor, the Master Servicer shall prepare, an authorized
officer of the Master Servicer shall sign, and the Master Servicer shall file
with the Commission, on behalf of the Trust, any Form 8-K, as required by the
Exchange Act, provided that the Depositor shall prepare and file the initial
Form 8-K in connection with the issuance of the Certificates. Any disclosure or
information related to a Reportable Event or that is otherwise required to be
included on Form 8-K ("Form 8-K Disclosure Information") shall, pursuant to the
paragraph immediately below, be reported by the parties set forth on Exhibit U
and directed and approved by the Depositor, and the Master Servicer will have no
duty or liability for any failure hereunder to determine or prepare any Form 8-K
Disclosure Information (other than with respect to itself) absent such
reporting, direction and approval. If a Form 8-K cannot be filed on time or if a
previously filed Form 8-K needs to be amended, the Master Servicer will follow
the procedures set forth in Section 3.12(d). Promptly (but no later than 1
Business Day) after filing with the Commission, the Master Servicer will, make
available on its internet website a final executed copy of each Form 8-K.

            For so long as the Trust is subject to the Exchange Act reporting
requirements, no later than the end of business on the second Business Day after
the occurrence of a Reportable Event (i) the parties identified on Exhibit U
shall provide to the Master Servicer and the Depositor, to the extent known by a
Responsible Officer, in EDGAR-compatible form, or in such other form as
otherwise agreed upon by the Master Servicer and such party, the form and
substance of any Form 8-K Disclosure Information, if applicable, and (ii) the
parties identified on Exhibit U shall include with such Additional Form 8-K
Disclosure, an Additional Disclosure Notification in the form attached hereto as
Exhibit V and the Depositor will approve, as to form and substance, or
disapprove, as the case may be, the inclusion of the Form 8-K Disclosure
Information on Form 8-K. The Master Servicer has no duty under this Agreement to
monitor or enforce the performance by the parties listed on Exhibit U of their
duties under this paragraph or proactively solicit or procure from such parties
any Form 8-K Disclosure Information; except that the Master Servicer shall
enforce the obligations of the Servicers under the Servicing Agreements. The
Depositor will be responsible for any reasonable fees and expenses assessed or
incurred by the Master Servicer in connection with including any Form 8-K
Disclosure Information on Form 8-K pursuant to this paragraph.

            After preparing the Form 8-K, the Master Servicer shall forward
electronically a draft copy of the Form 8-K to the Depositor for review. Each
party to this Agreement acknowledges that the performance by the Master Servicer
of its duties under this Section 3.12(c) relating to the timely preparation and
filing of Form 8-K is contingent upon such party strictly observing all
applicable timeframes in the performance of its duties under this Section
3.12(c). The Master Servicer shall have no liability for any loss, expense,
damage, claim arising out of or with respect to any failure to properly prepare
and/or timely file such Form 8-K, where such failure results from the Master
Servicer's inability or failure to obtain or receive, on a timely basis, any
information from any other party hereto, any Servicer, the Custodian or any
Special Servicer (if applicable) needed to prepare, arrange for execution or
file such Form 8-K, not resulting from its own negligence, bad faith or willful
misconduct.

            (d) In the event that the Master Servicer is unable to timely file
with the Commission all or any required portion of any Form 8-K, 10-D or 10-K
required to be filed by this Agreement because required disclosure information
was either not delivered to it or delivered to it after the delivery deadlines
set forth in this Agreement or for any other reason, the Master Servicer will
promptly notify the Depositor and, in the case of Form 10-D or 10-K, the Master
Servicer will prepare, sign and file a Form 12b-25 pursuant to Rule 12b-25 of
the Exchange Act not later than the Business Day following the due date of the
applicable report. Within five days following the due date of any Form 10-D as
to which it has filed a Form 12b-25, the Master Servicer shall prepare, sign and
file the related Form 10-D. Within 15 days following the due date of any Form
10-K as to which it has filed a Form 12b-25, the Master Servicer shall prepare,
sign and file the related Form 10-K. In the case of Form 8-K, the Master
Servicer will, upon receipt of all required Form 8-K Disclosure Information and
at the direction of the Depositor, include such disclosure information on the
next Form 10-D. In the event that any previously filed Form 8-K, 10-D or 10-K
needs to be amended, the Master Servicer will notify the Depositor and each
party whose cooperation is required in connection with the preparation of such
amendment; provided however that such notice shall not be required in connection
with an amendment to Form 10-D due to a revision made to any Distribution Date
Statement. The parties to this Agreement acknowledge that the performance by the
Master Servicer of its duties under this Section 3.12(d) related to the timely
preparation and filing of a Form 12b-25 or any amendment to Form 8-K, 10-D or
10-K is contingent upon each such party performing its duties under this
Section. The Master Servicer shall have no liability for any loss, expense,
damage, claim arising out of or with respect to any failure to properly prepare
and/or timely file any such Form 12b-25 or any amendments to Forms 8-K, 10-D or
10-K, where such failure results from the Master Servicer's inability or failure
to obtain or receive, on a timely basis, any information from any other party
hereto, any Servicer, the Custodian or any Special Servicer (if applicable)
needed to prepare, arrange for execution or file such Form 12b-25 or any
amendments to Forms 8-K, 10-D or 10-K, not resulting from its own negligence,
bad faith or willful misconduct.

            (e) On or prior to January 30 of the first year in which the Master
Servicer is able to do so under applicable law, the Master Servicer shall
prepare, an authorized officer of the Master Servicer shall sign, and the Master
Servicer shall file with the Commission, on behalf of the Trust, a Form 15
relating to the automatic suspension of reporting in respect of the Trust under
the Exchange Act. At the beginning of any year after the filing of a Form 15, if
the number of Certificateholders of record exceeds the number set forth in
Section 15(d) of the Exchange Act or the regulations promulgated pursuant
thereto which would cause the Trust to again become subject to the reporting
requirements of the Exchange Act, the Master Servicer shall recommence preparing
and filing reports on Form 10-D, 10-K and 8-K as required pursuant to this
Section.

            (f) To the extent the Master Servicer is obligated to give any
notice to the Depositor pursuant to this Section 3.12, such notice may,
notwithstanding the provisions of Section 10.05 in this Agreement, be delivered
via facsimile to 301-816-8152 or via electronic mail to
Structuredfinance-frederick@wellsfargo.com.

                                   ARTICLE IV

                    DISTRIBUTIONS IN RESPECT OF CERTIFICATES;
                         PAYMENTS TO CERTIFICATEHOLDERS;
                             STATEMENTS AND REPORTS

            Section 4.01 Distributions.

            (a) Amounts allocated to the Class of Exchangeable REMIC
Certificates pursuant to this Section 4.01(a) will be calculated assuming no
exchanges have ever occurred. Exchangeable Certificates will receive
distributions in accordance with Section 4.01(g) and will not be allocated
amounts under this Section 4.01(a). On each Distribution Date, the Pool
Distribution Amount will be applied in the following amounts, to the extent the
Pool Distribution Amount is sufficient therefor, in the manner and in the order
of priority as follows:

            first, to the Classes of Class A Certificates, pro rata, based upon
their respective Interest Accrual Amounts, in an aggregate amount up to the
Class A Interest Accrual Amount with respect to such Distribution Date;

            second, to the Classes of Class A Certificates, pro rata, based upon
their respective Class A Unpaid Interest Shortfalls in an aggregate amount up to
the Aggregate Class A Unpaid Interest Shortfall;

            third, concurrently, to the Class A Non-PO Certificates and the
Class A-PO Certificates, pro rata, based on their respective Class A Non-PO
Optimal Principal Amount and Class A-PO Optimal Principal Amount, (1) to the
Classes of Class A Certificates (other than the Class A-PO Certificates), in an
aggregate amount up to the Class A Non-PO Optimal Principal Amount, such
distribution to be allocated among such Classes in accordance with Section
4.01(b) or Section 4.01(c), as applicable, and (2) to the Class A-PO
Certificates in an amount up to the Class A-PO Optimal Principal Amount;

            fourth, to the Class A-PO Certificates in an amount up to the Class
A-PO Deferred Amount from amounts otherwise distributable (without regard to
this Paragraph fourth) first to the Class B-6 Certificates pursuant to Paragraph
twenty-second, below, second to the Class B-5 Certificates pursuant to Paragraph
nineteenth, below, third to the Class B-4 Certificates pursuant to Paragraph
sixteenth, below, fourth to the Class B-3 Certificates pursuant to Paragraph
thirteenth, below, fifth to the Class B-2 Certificates pursuant to Paragraph
tenth below, and sixth to the Class B-1 Certificates pursuant to Paragraph
seventh below;

            fifth, to the Class B-1 Certificates in an amount up to the Interest
Accrual Amount for the Class B-1 Certificates with respect to such Distribution
Date;

            sixth, to the Class B-1 Certificates in an amount up to the Class
B-1 Unpaid Interest Shortfall;

            seventh, to the Class B-1 Certificates in an amount up to the Class
B-1 Optimal Principal Amount; provided, however, that the amount distributable
to the Class B-1 Certificates pursuant to this Paragraph seventh will be reduced
by the amount, if any, that would have been distributable to the Class B-1
Certificates hereunder used to pay the Class A-PO Deferred Amount as provided in
Paragraph fourth above;

            eighth, to the Class B-2 Certificates in an amount up to the
Interest Accrual Amount for the Class B-2 Certificates with respect to such
Distribution Date;

            ninth, to the Class B-2 Certificates in an amount up to the Class
B-2 Unpaid Interest Shortfall;

            tenth, to the Class B-2 Certificates in an amount up to the Class
B-2 Optimal Principal Amount; provided, however, that the amount distributable
to the Class B-2 Certificates pursuant to this Paragraph tenth will be reduced
by the amount, if any, that would have been distributable to the Class B-2
Certificates hereunder used to pay the Class A-PO Deferred Amount as provided in
Paragraph fourth above;

            eleventh, to the Class B-3 Certificates in an amount up to the
Interest Accrual Amount for the Class B-3 Certificates with respect to such
Distribution Date;

            twelfth, to the Class B-3 Certificates in an amount up to the Class
B-3 Unpaid Interest Shortfall;

            thirteenth, to the Class B-3 Certificates in an amount up to the
Class B-3 Optimal Principal Amount; provided, however, that the amount
distributable to the Class B-3 Certificates pursuant to this Paragraph
thirteenth will be reduced by the amount, if any, that would have been
distributable to the Class B-3 Certificates hereunder used to pay the Class A-PO
Deferred Amount as provided in Paragraph fourth above;

            fourteenth, to the Class B-4 Certificates in an amount up to the
Interest Accrual Amount for the Class B-4 Certificates with respect to such
Distribution Date;

            fifteenth, to the Class B-4 Certificates in an amount up to the
Class B-4 Unpaid Interest Shortfall;

            sixteenth, to the Class B-4 Certificates in an amount up to the
Class B-4 Optimal Principal Amount; provided, however, that the amount
distributable to the Class B-4 Certificates pursuant to this Paragraph sixteenth
will be reduced by the amount, if any, that would have been distributable to the
Class B-4 Certificates hereunder used to pay the Class A-PO Deferred Amount as
provided in Paragraph fourth above;

            seventeenth, to the Class B-5 Certificates in an amount up to the
Interest Accrual Amount for the Class B-5 Certificates with respect to such
Distribution Date;

            eighteenth, to the Class B-5 Certificates in an amount up to the
Class B-5 Unpaid Interest Shortfall;

            nineteenth, to the Class B-5 Certificates in an amount up to the
Class B-5 Optimal Principal Amount; provided, however, that the amount
distributable to the Class B-5 Certificates pursuant to this Paragraph
nineteenth will be reduced by the amount, if any, that would have been
distributable to the Class B-5 Certificates hereunder used to pay the Class A-PO
Deferred Amount as provided in Paragraph fourth above;

            twentieth, to the Class B-6 Certificates in an amount up to the
Interest Accrual Amount for the Class B-6 Certificates with respect to such
Distribution Date;

            twenty-first, to the Class B-6 Certificates in an amount up to the
Class B-6 Unpaid Interest Shortfall;

            twenty-second, to the Class B-6 Certificates in an amount up to the
Class B-6 Optimal Principal Amount; provided, however, that the amount
distributable to the Class B-6 Certificates pursuant to this Paragraph
twenty-second will be reduced by the amount, if any, that would have been
distributable to the Class B-6 Certificates hereunder used to pay the Class A-PO
Deferred Amount as provided in Paragraph fourth above; and

            twenty-third, to the Holder of the Class A-R Certificate, any
amounts remaining in the Payment Account.

            Notwithstanding the foregoing, after the Principal Balance of any
Class has been reduced to zero, such Class will be entitled to no further
distributions of principal or interest (including, without limitation, any
Unpaid Interest Shortfalls).

            With respect to any Distribution Date, the amount of the Principal
Adjustment, if any, attributable to any Class of Class B Certificates will be
allocated to the Classes of Class A Non-PO Certificates and any Class of Class B
Certificates with a lower numerical designation pro rata based on their
outstanding Principal Balances.

            On each Distribution Date, any Reimbursement Amount shall be
distributed sequentially to the Classes of Certificates (other than Exchangeable
Certificates) then outstanding which bore the loss to which such Reimbursement
Amount relates beginning with the most senior of such Class of Certificates, up
to, with respect to each Class, the amount of loss borne by such Class. Any
Reimbursement Amount remaining after the application described in the preceding
sentence shall be included in the Pool Distribution Amount.

            (b) The allocation of the Class A Non-PO Distribution Amount to the
Class of Exchangeable REMIC Certificates will be made assuming no exchanges have
ever occurred. Amounts distributable to Exchangeable Certificates will be made
as described in Section 4.01(g). On each Distribution Date occurring prior to
the Subordination Depletion Date, the Class A Non-PO Principal Distribution
Amount will be allocated among and distributed in reduction of the Principal
Balances of the Class A Non-PO Certificates, sequentially, as follows:

     first, to the Class A-R Certificate; and

     second, concurrently, as follows:

       (a) 47.8074341176%, concurrently, to the Class A-1 and Class A-44
Certificates, pro rata; and

       (b) 52.1925658824%, sequentially, as follows:

             (i) concurrently, to the Class A-36, Class A-37, Class A-41, Class
          A-45, Class A-46, Class A-47, Class A-48 and Class A-49 Certificates,
          pro rata, up to the Priority Amount for such Distribution Date;

             (ii) concurrently, as follows:

                (A) 52.4166891436%, sequentially, as follows:

                   (1) to the Class A-3 Certificates;

                   (2) concurrently, as follows:

                      (a) 25.5855247335%, to the Class A-2 Certificates; and

                      (b) 74.4144752665%, sequentially, as follows:

                         (i) concurrently, as follows:

                            (aa) 5.6913576734%, to the Class A-35 Certificates;
                          and

                            (bb) 94.3086423266%, sequentially as follows:

                               (I) sequentially, to the Class A-11, Class A-12,
                            Class A-13, Class A-14, Class A-15, Class A-16,
                            Class A-17, Class A-18, Class A-19, Class A-20,
                            Class A-21, Class A-22, Class A-23, Class A-24,
                            Class A-25, Class A-26, Class A-27, Class A-28,
                            Class A-29, Class A-30 and Class A-31 Certificates;

                               (II) concurrently, to the Class A-32 and Class
                            A-33 Certificates, pro rata; and

                               (III) concurrently, to the Class A-34 and Class
                            A-42 Certificates, pro rata; and

                         (ii) to the Class A-4 Certificates;

                (B) 12.4583302719%, sequentially, as follows:

                   (1) sequentially, to the Class A-5, Class A-6 and Class A-7
               Certificates, up to the PAC Principal Amount for such
               Distribution Date;

                   (2) concurrently, to the Class A-8, Class A-9 and Class A-43
               Certificates, pro rata; and

                   (3) sequentially, to the Class A-5, Class A-6, Class A-7 and
               Class A-10 Certificates; and

                (C) 35.1249805845%, sequentially, to the Class A-38, Class A-39
               and Class A-40 Certificates; and

             (iii) concurrently, to the Class A-36, Class A-37, Class A-41,
          Class A-45, Class A-46, Class A-47, Class A-48 and Class A-49
          Certificates, pro rata.

            As used above, the "PAC Principal Amount" for any Distribution Date
means the amount, if any, that would reduce the sum of the Principal Balances of
the PAC Certificates to the percentage of the initial aggregate Principal
Balance of the PAC Group shown in the table appearing in Schedule II with
respect to such Distribution Date.

            The table in Schedule II sets forth for each Distribution Date the
planned Principal Balance for the PAC Group expressed as a percentage of the
initial aggregate Principal Balance of the PAC Group.

            (c) Notwithstanding the foregoing, on each Distribution Date
occurring on or subsequent to the Subordination Depletion Date, the Class A
Non-PO Principal Distribution Amount shall be distributed among the Classes of
Class A Non-PO Certificates, pro rata, in accordance with their outstanding
Principal Balances without regard to either the proportions or the priorities
set forth in Section 4.01(b).

            (d) (i) For purposes of determining whether the Classes of Class B
Certificates are eligible to receive distributions of principal with respect to
any Distribution Date, the following tests shall apply:

            (A) if the Current Class B-1 Fractional Interest is less than the
      Original Class B-1 Fractional Interest and the Class B-1 Principal Balance
      is greater than zero, the Class B-2, Class B-3, Class B-4, Class B-5 and
      Class B-6 Certificates shall not be eligible to receive distributions of
      principal; or

            (B) if the Current Class B-2 Fractional Interest is less than the
      Original Class B-2 Fractional Interest and the Class B-2 Principal Balance
      is greater than zero, the Class B-3, Class B-4, Class B-5 and Class B-6
      Certificates shall not be eligible to receive distributions of principal;
      or

            (C) if the Current Class B-3 Fractional Interest is less than the
      Original Class B-3 Fractional Interest and the Class B-3 Principal Balance
      is greater than zero, the Class B-4, Class B-5 and Class B-6 Certificates
      shall not be eligible to receive distributions of principal; or

            (D) if the Current Class B-4 Fractional Interest is less than the
      Original Class B-4 Fractional Interest and the Class B-4 Principal Balance
      is greater than zero, the Class B-5 and Class B-6 Certificates shall not
      be eligible to receive distributions of principal; or

            (E) if the Current Class B-5 Fractional Interest is less than the
      Original Class B-5 Fractional Interest and the Class B-5 Principal Balance
      is greater than zero, the Class B-6 Certificates shall not be eligible to
      receive distributions of principal.

            (ii) Notwithstanding the foregoing, if on any Distribution Date the
aggregate distributions to Holders of the Classes of Class B Certificates
entitled to receive distributions of principal would reduce the Principal
Balances of the Classes of Class B Certificates entitled to receive
distributions of principal below zero, first the Class B Prepayment Percentage
of any affected Class of Class B Certificates for such Distribution Date
beginning with the affected Class with the lowest numerical Class designation
and then, if necessary, the Class B Percentage of such Class of the Class B
Certificates for such Distribution Date shall be reduced to the respective
percentages necessary to bring the Principal Balance of such Class of Class B
Certificates to zero. The Class B Prepayment Percentages and the Class B
Percentages of the remaining Classes of Class B Certificates will be recomputed
substituting for the Subordinated Prepayment Percentage and Subordinated
Percentage in such computations the difference between (A) the Subordinated
Prepayment Percentage or Subordinated Percentage, as the case may be, and (B)
the percentages determined in accordance with the preceding sentence necessary
to bring the Principal Balances of the affected Classes of Class B Certificates
to zero; provided, however, that if the Principal Balances of all the Classes of
Class B Certificates eligible to receive distributions of principal shall be
reduced to zero on such Distribution Date, the Class B Prepayment Percentage and
Class B Percentage of the Class of Class B Certificates with the lowest
numerical Class designation which would otherwise be ineligible to receive
distributions of principal in accordance with this Section shall equal the
remainder of the Subordinated Prepayment Percentage for such Distribution Date
minus the sum of the Class B Prepayment Percentages of the Classes of Class B
Certificates having lower numerical Class designations, if any, and the
remainder of the Subordinated Percentage for such Distribution Date minus the
sum of the Class B Percentages of the Classes of Class B Certificates having
lower numerical Class designations, if any, respectively. Any entitlement of any
Class of Class B Certificates to principal payments solely pursuant to this
clause (ii) shall not cause such Class to be regarded as being eligible to
receive principal distributions for the purpose of applying the definition of
its Class B Percentage or Class B Prepayment Percentage.

            (e) On each Distribution Date other than the Final Distribution Date
(if such Final Distribution Date is in connection with a purchase of the assets
of the Trust Estate by the Depositor), the Paying Agent shall, from funds
remitted to it by the Master Servicer, distribute to each Certificateholder of
record on the preceding Record Date (other than as provided in Section 9.01
respecting the final distribution to Certificateholders or in the last paragraph
of this Section 4.01(e) respecting the final distribution in respect of any
Class) either in immediately available funds by wire transfer to the account of
such Certificateholder at a bank or other entity having appropriate facilities
therefor, if such Certificateholder has so notified the Paying Agent at least
seven Business Days prior to the Distribution Date or if such Holder has not so
notified the Paying Agent, by check mailed to such Holder at the address of such
Holder appearing in the Certificate Register, such Holder's share of the Class A
Distribution Amount with respect to each Class of Class A Certificates and the
Class B Distribution Amount with respect to each Class of Class B Certificates.

            In the event that, on any Distribution Date prior to the Final
Distribution Date, the Principal Balance of any Class of Class A Certificates
(other than the Residual Certificate) or the Principal Balance of any Class of
Class B Certificates would be reduced to zero, or, in the case of a Class of
Exchangeable Certificates, the Principal Balances of the Related Exchangeable
REMIC Certificates, would be reduced to zero, the Master Servicer shall, as soon
as practicable after the Determination Date relating to such Distribution Date,
send notice to the Paying Agent. The Paying Agent shall then send a notice to
each Certificateholder of such Class with a copy to the Certificate Registrar,
specifying that the final distribution with respect to such Class will be made
on such Distribution Date only upon the presentation and surrender of such
Certificateholder's Certificates at the office or agency of the Certificate
Registrar therein specified; provided, however, that the failure to give such
notice will not entitle a Certificateholder to any interest beyond the interest
payable with respect to such Distribution Date in accordance with Section
4.01(a).

            (f) The Paying Agent shall withhold or cause to be withheld such
amounts as may be required by the Code (giving full effect to any exemptions
from withholding and related certifications required to be furnished by
Certificateholders and any reductions to withholding by virtue of any bilateral
tax treaties and any applicable certification required to be furnished by
Certificateholders with respect thereto) from distributions to be made to
Persons other than U.S. Persons ("Non-U.S. Persons"). Amounts withheld pursuant
to this Section 4.01(f) shall be treated as having been distributed to the
related Certificateholder for all purposes of this Agreement. For the purposes
of this paragraph, a "U.S. Person" is a citizen or resident of the United
States, a corporation or partnership (unless, in the case of a partnership,
Treasury regulations are adopted that provide otherwise) created or organized in
or under the laws of the United States, any state thereof or the District of
Columbia, including an entity treated as a corporation or partnership for
federal income tax purposes, an estate whose income is subject to United States
federal income tax regardless of its source, or a trust if a court within the
United States is able to exercise primary supervision over the administration of
such trust, and one or more such U.S. Persons have the authority to control all
substantial decisions of such trust (or, to the extent provided in applicable
Treasury regulations, certain trusts in existence on August 20, 1996 which are
eligible to elect to be treated as U.S. Persons).

            (g) The Exchangeable Combination consisting of Outstanding
Exchangeable Certificates will receive its proportionate share of distributions
in respect of interest allocated to the Related Exchangeable REMIC Certificates
pursuant to Section 4.01(a) and Section 9.01. Such amount of interest will then
be distributed to the Class A-51 Certificates.

            (ii) The Exchangeable Combination consisting of Outstanding
Exchangeable Certificates will receive its proportionate share of distributions
in respect of principal allocated to the Related Exchangeable REMIC Certificates
pursuant to Sections 4.01(b) and (c) and Section 9.01. Such amount of principal
will then be distributed in respect of such Exchangeable Combination, as set
forth below.

            Exchangeable Combination

            On each Distribution Date the amount distributable to the
Exchangeable Combination will be distributed to the Class A-50 Certificates.

            (iii) The Exchangeable Combination consisting of Outstanding
Exchangeable Certificates will receive its proportionate share of any Principal
Adjustment or Reimbursement Amount allocated to the Related Exchangeable REMIC
Certificates. Any such Principal Adjustment or Reimbursement Amount will then be
allocated to the individual Classes of Outstanding Exchangeable Certificates
included in such Exchangeable Combination based on their proportionate share
based on the Maximum Principal Balances in the case of any Principal Adjustment
and on the amount of loss borne by such Classes in the case of any Reimbursement
Amount.

            Section 4.02 Allocation of Realized Losses.

            (a) With respect to any Distribution Date, the principal portion of
any Realized Loss (other than Debt Service Reductions) will be allocated as
follows:

            first, concurrently, to the Class A-PO Certificates and Class B-6
Certificates, pro rata, based on the applicable PO Fraction and the applicable
Non-PO Fraction of such Mortgage Loans, respectively, until the Class B-6
Principal Balance has been reduced to zero;

            second, concurrently, to the Class A-PO Certificates and Class B-5
Certificates, pro rata, based on the applicable PO Fraction and the applicable
Non-PO Fraction of such Mortgage Loans, respectively, until the Class B-5
Principal Balance has been reduced to zero;

            third, concurrently, to the Class A-PO Certificates and Class B-4
Certificates, pro rata, based on the applicable PO Fraction and the applicable
Non-PO Fraction of such Mortgage Loans, respectively, until the Class B-4
Principal Balance has been reduced to zero;

            fourth, concurrently, to the Class A-PO Certificates and Class B-3
Certificates, pro rata, based on the applicable PO Fraction and the applicable
Non-PO Fraction of such Mortgage Loans, respectively, until the Class B-3
Principal Balance has been reduced to zero;

            fifth, concurrently, to the Class A-PO Certificates and Class B-2
Certificates, pro rata, based on the applicable PO Fraction and the applicable
Non-PO Fraction of such Mortgage Loans, respectively, until the Class B-2
Principal Balance has been reduced to zero;

            sixth, concurrently, to the Class A-PO Certificates and Class B-1
Certificates, pro rata, based on the applicable PO Fraction and the applicable
Non-PO Fraction of such Mortgage Loans, respectively, until the Class B-1
Principal Balance has been reduced to zero; and

            seventh, concurrently, to the Class A Certificates (other than the
Class A-PO Certificates) and Class A-PO Certificates, pro rata, based on the
applicable Non-PO Fraction and the applicable PO Fraction of such Mortgage
Loans, respectively.

            This allocation of Realized Losses will be effected through the
reduction of the applicable Class's Principal Balance through the operation of
the definition of Principal Balance and the provisos in the definitions of Class
B-1 Principal Balance, Class B-2 Principal Balance, Class B-3 Principal Balance,
Class B-4 Principal Balance, Class B-5 Principal Balance and Class B-6 Principal
Balance.

            Outstanding Exchangeable Certificates will be allocated their
proportionate share (based on Maximum Principal Balance) of (i) any decrease in
the Principal Balance of a Related Exchangeable REMIC Certificate as a result of
the application of the third or fourth sentences of the definition of Principal
Balance or (ii) any increase in the Principal Balance of a Related Exchangeable
REMIC Certificate as a result of the application of the third or fifth sentences
of the definition of Principal Balance.

            (b) Any Realized Losses allocated to a Class of Class A Certificates
or Class B Certificates pursuant to Section 4.02(a) shall be allocated among the
Certificates of such Class based on their Percentage Interests.

            (c) After the Class B Principal Balance has been reduced to zero,
the interest portion of Realized Losses will be allocated among the outstanding
Classes of Class A Certificates based upon their Class A Interest Percentages.

            (d) Realized Losses allocated in accordance with this Section 4.02
will be allocated as follows: (i) Liquidated Loan Losses on Liquidated Loans for
which the Liquidation Proceeds were received during, and Bankruptcy Losses
incurred in a period corresponding to, an Unscheduled Principal Receipt Period
for Full Unscheduled Principal Receipts that is a Mid-Month Receipt Period will
be allocated on the Determination Date in the month following the month in which
such Mid-Month Receipt Period ended and (ii) Liquidated Loan Losses on
Liquidated Loans for which the Liquidation Proceeds were received during, and
Bankruptcy Losses incurred in a period corresponding to, an Unscheduled
Principal Receipt Period for Full Unscheduled Principal Receipts that is a Prior
Month Receipt Period will be allocated on the Determination Date in the second
month following the month which is such Prior Month Receipt Period.

            Section 4.03 Paying Agent.

            (a) The Paying Agent shall establish and maintain a Payment Account,
which shall be a separate trust account (unless the Master Servicer is the
Paying Agent, in which case, the Certificate Account may be the Payment Account)
and an Eligible Account, in which the Master Servicer shall cause to be
deposited from funds in the Certificate Account or, to the extent required
hereunder, from its own funds (i) at or before 10:00 a.m., New York time, on the
Business Day preceding each Distribution Date, by wire transfer of immediately
available funds, any Periodic Advance for such Distribution Date, pursuant to
Section 3.03 and (ii) at or before 10:00 a.m., New York time, on the Business
Day preceding each Distribution Date, by wire transfer of immediately available
funds, an amount equal to the Pool Distribution Amount. The Master Servicer may
cause the Paying Agent to invest the funds in the Payment Account. Any such
investment shall be in Eligible Investments, which shall mature not later than
the Business Day preceding the related Distribution Date (unless the Eligible
Investments are obligations of the institution that maintains such account, in
which case such Eligible Investments shall mature not later than the
Distribution Date), and shall not be sold or disposed of prior to maturity. All
income and gain realized from any such investment shall be for the benefit of
the Master Servicer and shall be subject to its withdrawal or order from time to
time. The amount of any losses incurred in respect of any such investments shall
be deposited in the Payment Account by the Master Servicer out of its own funds
immediately as realized. The Paying Agent may withdraw from the Payment Account
any amount deposited in the Payment Account that was not required to be
deposited therein and may clear and terminate the Payment Account pursuant to
Section 9.01.

            (b) Wells Fargo Bank is hereby appointed as initial Paying Agent to
make distributions to Certificateholders and to make available to
Certificateholders the Distribution Date Statements and the annual statements
required by Section 4.04. The Trustee may, at any time, remove or replace the
Paying Agent, other than Wells Fargo Bank for so long as Wells Fargo Bank is
acting as the Master Servicer. If Wells Fargo Bank is no longer acting as Master
Servicer, the Master Servicer shall pay, from its own funds, the reasonable
compensation of any Paying Agent other than Wells Fargo Bank.

            The Trustee shall cause any Paying Agent that is not HSBC Bank USA,
National Association or Wells Fargo Bank to execute and deliver to the Trustee
an instrument (a "Paying Agent Agreement") in which such Paying Agent agrees
with the Trustee that such Paying Agent shall:

            (i) hold all amounts remitted to it by the Master Servicer for
      distribution to Certificateholders in trust for the benefit of
      Certificateholders until such amounts are distributed to
      Certificateholders or otherwise disposed of as herein provided;

            (ii) give the Trustee notice of any default by the Master Servicer
      in remitting any required amount;

            (iii) at any time during the continuance of any such default, upon
      the written request of the Trustee, forthwith pay to the Trustee all
      amounts held in trust by such Paying Agent; and

            (iv) provide to the Master Servicer the assessment of compliance and
      accountants report provided for in Section 3.11 with respect to the
      Servicing Criteria set forth in Item 1122(d) of Regulation AB applicable
      to the duties of the Paying Agent.

            Section 4.04 Statements to Certificateholders; Reports to the
Trustee and the Depositor.

            (a) On each Distribution Date, the Master Servicer shall make
available in accordance with subsection (b) of this Section 4.04 to each Holder
of a Certificate, the Trustee, the Paying Agent and the Depositor a statement
(the "Distribution Date Statement") setting forth:

            (i) the applicable Determination Date, the applicable Record Date
       and the actual Distribution Date;

            (ii) the amount of such distribution to Holders of each Class of
      Class A Certificates allocable to principal, assuming, in the case of the
      Class of Exchangeable REMIC Certificates, that no exchanges have occurred
      and, in the case of a Class of Exchangeable Certificates, that all
      exchanges have occurred, separately identifying the aggregate amount of
      any Unscheduled Principal Receipts and Liquidation Proceeds included
      therein and the Principal Balance of each Class of Class A Certificates
      (other than a Class of Exchangeable Certificates) and the Maximum
      Principal Balance of each Class of Exchangeable Certificates;

            (iii) (A) the amount of such distribution to Holders of each Class
      of Class A Certificates allocable to interest, assuming, in the case of a
      Class of Exchangeable REMIC Certificates, that no exchanges have occurred
      and, in the case of a Class of Exchangeable Certificates, that all
      exchanges have occurred, (B) the amount of the Current Class A Interest
      Distribution Amount allocated to each Class of Class A Certificates, (C)
      any Interest Shortfall Amounts arising with respect to such Distribution
      Date and any remaining Class A Unpaid Interest Shortfall with respect to
      each Class after giving effect to such distribution, (D) the amount of any
      Non-Supported Interest Shortfalls allocated to each Class of Class A
      Certificates for such Distribution Date, (E) the amount of any Relief Act
      Shortfall allocated to each Class of Class A Certificates for such
      Distribution Date and (F) for each Class of Exchangeable Certificates,
      comparable information to that required in clauses (B), (C), (D) and (E)
      assuming all exchanges have occurred based on such Class' proportionate
      share of such amounts allocated to the Related Exchangeable REMIC
      Certificates;

            (iv) the amount of such distribution to Holders of each Class of
      Class B Certificates allocable to principal, separately identifying the
      aggregate amount of any Unscheduled Principal Receipts and Liquidation
      Proceeds included therein and the Principal Balance of each Class of Class
      B Certificates;

            (v) (A) the amount of such distribution to Holders of each Class of
      Class B Certificates allocable to interest, (B) the amount of the Current
      Class B Interest Distribution Amount allocated to each Class of Class B
      Certificates, (C) any Class B Interest Shortfall Amounts arising with
      respect to such Distribution Date and any remaining Class B Unpaid
      Interest Shortfall with respect to each Class of Class B Certificates
      after giving effect to such distribution, (D) the amount of any
      Non-Supported Interest Shortfall allocated to each Class of Class B
      Certificates for such Distribution Date and (E) the amount of any Relief
      Act Shortfall allocated to each Class of Class B Certificates for such
      Distribution Date;

            (vi) the amount of any Periodic Advance by or reimbursed to any
      Servicer, the Master Servicer or the Trustee pursuant to the Servicing
      Agreements or this Agreement;

             (vii) the number and aggregate principal balance of Mortgage Loans
       outstanding, the weighted average Mortgage Interest Rate and weighted
       average remaining term to maturity of the Mortgage Loans outstanding and
       the cumulative prepayment amounts, in each case, as of the preceding
       Determination Date;

             (viii) the number and aggregate principal balances of the Mortgage
       Loans by range of current Mortgage Interest Rates;

             (ix) the pool factors for such Distribution Date;

             (x) the beginning and ending balance of the Certificate Account;

            (xi) the Class A Principal Balance, the Principal Balance of each
      Class of Class A Certificates (other than a Class of Exchangeable
      Certificates), the Maximum Principal Balance of each Class of Exchangeable
      Certificates, the Class B Principal Balance and the Principal Balance of
      each Class of Class B Certificates prior to and after giving effect to the
      distributions of principal made, and the principal portion of Realized
      Losses, if any, allocated with respect to such Distribution Date;

            (xii) the Adjusted Pool Amount, the Adjusted Pool Amount (Non-PO
      Portion), the Adjusted Pool Amount (PO Portion), the Pool Scheduled
      Principal Balance of the Mortgage Loans for such Distribution Date, the
      aggregate Scheduled Principal Balance of the Discount Mortgage Loans for
      such Distribution Date;

            (xiii) the aggregate Scheduled Principal Balances of the Mortgage
      Loans serviced by Wells Fargo Bank in its capacity as Servicer and,
      collectively, by the Other Servicers as of such Distribution Date;

            (xiv) the Class A Percentage for such Distribution Date;

            (xv) the Class A Prepayment Percentage for such Distribution Date;

            (xvi) the Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and
      Class B-6 Percentages for such Distribution Date;

            (xvii) the Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and
      Class B-6 Prepayment Percentages for such Distribution Date;

            (xviii) the number and aggregate principal balances of the Mortgage
      Loans (A) delinquent (exclusive of Mortgage Loans in foreclosure or
      bankruptcy), grouping such delinquent Mortgage Loans in 30 day increments,
      up to 180 days delinquent (determined in accordance with the Mortgage
      Bankers' Association delinquency methodology), (B) in foreclosure, as of
      the close of business on the last day of the calendar month preceding the
      Distribution Date and (C) in bankruptcy as of the close of business on the
      last day of the calendar month preceding the Distribution Date;

            (xix) the number and aggregate principal balances of the Mortgage
      Loans that are REO Mortgage Loans as of the Determination Date immediately
      preceding such Distribution Date;

            (xx) the aggregate amount of Realized Losses incurred during the
      preceding calendar month;

            (xxi) any expenses or indemnification amounts paid by the Trust, the
      specific purpose of each payment and the parties to whom the payments were
      made;

            (xxii) the amount by which the Principal Balance of each Class of
      Class B Certificates has been reduced as a result of Realized Losses
      allocated as of such Distribution Date;

            (xxiii) the amount of the aggregate Servicing Fees and Master
      Servicing Fees paid (and not previously reported) with respect to the
      related Distribution Date and the amount by which the aggregate Available
      Master Servicer Compensation has been reduced by the Prepayment Interest
      Shortfall for the related Distribution Date;

            (xxiv) the amount of PMI Advances made by a Servicer, if any;

            (xxv) the Class A Pass-Through Rate for each Class of Class A
      Certificates and the Class B Pass-Through Rate for each Class of Class B
      Certificates;

            (xxvi) in the case of the Class A-51 Certificates, the Maximum
      Notional Amount, if any;

            in the case of each Class of LIBOR Certificates, the applicable
      Class A Pass-Through Rate;

            (xxvii) the Class A-PO Deferred Amount, if any;

            (xxviii) any material modifications, extensions or waivers to
      Mortgage Loan terms, fees, penalties or payments since the previous
      Distribution Date;

            (xxix) any material breaches of representations and warranties
      relating to the Mortgage Loans or material breaches of transaction
      covenants;

            (xxx) if any of the Mortgage Loans have prepayment penalties, the
      aggregate amount of any prepayment penalties paid;

            (xxxi) a statement as to whether any exchanges of Exchangeable REMIC
      Certificates or Exchangeable Certificates have taken place since the
      preceding Distribution Date, and, if applicable, the names, Principal
      Balances, Maximum Principal Balance or Maximum Notional Amount,
      Pass-Through Rates and any interest and principal paid, including any
      shortfalls allocated, of any Classes of Exchangeable REMIC Certificates or
      Exchangeable Certificates that were received by the Certificateholder as a
      result of such exchange; and

            (xxxii) any other customary information as is required to enable
      Certificateholders to prepare their tax returns.

            In the case of information furnished with respect to a Class of
Class A Certificates pursuant to clauses (ii) and (iii) above and with respect
to a Class of Class B Certificates pursuant to clauses (iv) and (v) above, the
amounts shall be expressed as a dollar amount per Class A or Class B Certificate
(other than the Residual Certificate) with a $1,000 Denomination, and as a
dollar amount per Residual Certificate with a $100 Denomination.

            Within a reasonable period of time after the end of each calendar
year, the Paying Agent shall, upon request, furnish or cause to be furnished to
each Person who at any time during the calendar year was the Holder of a
Certificate a statement containing the information set forth in clauses (ii) and
(iii)(A) above in the case of a Class A Certificateholder and the information
set forth in clauses (iv) and (v)(A) above in the case of a Class B
Certificateholder aggregated for such calendar year or applicable portion
thereof during which such Person was a Certificateholder. Such obligation of the
Paying Agent shall be deemed to have been satisfied to the extent that
substantially comparable information shall be provided by the Master Servicer or
the Trustee pursuant to any requirements of the Code from time to time in force.

            Unless the Master Servicer is acting as the Paying Agent, prior to
the close of business on the second Business Day preceding each Distribution
Date, the Master Servicer shall furnish a statement to any Paying Agent (the
information in such statement to be made available to Certificateholders by the
Paying Agent on written request) setting forth the Class A Distribution Amount
with respect to each Class of Class A Certificates and the Class B Distribution
Amount with respect to each Class of Class B Certificates. The determination by
the Master Servicer of such amounts shall, in the absence of obvious error, be
presumptively deemed to be correct for all purposes hereunder and the Trustee
and the Paying Agent shall be protected in relying upon the same without any
independent check or verification.

            In addition to the Distribution Date Statements and the annual
statements required pursuant to this Section 4.04(a), the Paying Agent shall
make available upon request to each Holder and each proposed transferee of a
Class B-4, Class B-5 or Class B-6 Certificate such additional information, if
any, as may be required to permit the proposed transfer to be effected pursuant
to Rule 144A, which information shall be provided on a timely basis to the
Paying Agent by the Master Servicer.

            (b) The Master Servicer's responsibility for disbursing the
information set forth in subsection (a) of this Section 4.04 to each Holder of a
Certificate, the Depositor and other interested parties is limited to the
availability, timeliness and the accuracy of the information provided by each
Servicer. The Master Servicer will make a copy of each Distribution Date
Statement provided pursuant to this Section 4.04 (and, at its option, any
additional files containing the same information in an alternative format)
available each month to Certificateholders and other interested parties, and
other parties to this Agreement via the Master Servicer's internet website,
which in the case of Wells Fargo Bank, is located at "www.ctslink.com." In
addition, the Paying Agent shall provide copies of the Distribution Date
Statement and the annual statements required pursuant to Section 4.04(a) to
Persons making written requests therefor at its Corporate Trust Office.
Assistance in using the internet website can be obtained by calling the Master
Servicer's customer service desk, which in the case of Wells Fargo Bank is at
(866) 846-4526. Parties that are unable to use the above distribution method are
entitled to have a paper copy mailed to them via first class mail by calling the
customer service desk and indicating such. The Master Servicer shall have the
right to change the way the Distribution Date Statement is distributed in order
to make such distribution more convenient and/or more accessible and the Master
Servicer shall provide timely and adequate notification to the
Certificateholders and the parties to this Agreement regarding any such changes.

            The Master Servicer shall also be entitled to rely on but shall not
be responsible for the content or accuracy of any information provided by third
parties for purposes of preparing the Distribution Date Statement and may affix
thereto any disclaimer it deems appropriate in its reasonable discretion
(without suggesting liability on the part of any other party hereto).

            Section 4.05 Grantor Trust Administration. (a) The Master Servicer
shall treat the portions of the Trust Estate consisting of any interests in the
Exchangeable REMIC Certificates beneficially owned in the form of Exchangeable
Certificates and rights with respect thereto as a "grantor trust" under the
Code, and the provisions hereof shall be interpreted consistently with this
treatment. The Master Servicer shall make available upon request to the Holders
of the Exchangeable Certificates, and shall file or cause to be filed with the
Internal Revenue Service together with any other information or form as may be
applicable, their allocable shares of income and expenses with respect to the
property held by the Grantor Trust, at the time or times and in the manner
required by the Code. Under no circumstances shall the Master Servicer have the
power to vary the investments of the Certificateholders in their related assets
of the Grantor Trust in order to take advantage of variations in this market to
improve their rate of return.

            (b) (i) Each beneficial owner of Exchangeable REMIC Certificates
that elects to hold its interest in the Exchangeable REMIC Certificates in the
form of Exchangeable Certificates pursuant to Sections 5.03 and 5.04 of this
Agreement shall be deemed to have instructed the Master Servicer to deposit the
applicable Exchangeable REMIC Certificates into the Grantor Trust and all
distributions in respect of such Exchangeable REMIC Certificates shall be
deposited into the Exchangeable Certificate Grantor Trust Account. The Master
Servicer hereby designates the Exchangeable Certificate Grantor Trust Account as
a sub-account of the Certificate Account.

            (ii) On each Distribution Date, the Master Servicer shall deposit
all distributions in respect of the Exchangeable REMIC Certificates deemed
received by it from the Certificate Account pursuant to paragraph (b)(i) of this
Section 4.05 in the Exchangeable Certificate Grantor Trust Account, and shall
immediately distribute such amounts in respect of the Related Exchangeable
Certificates.

            (iii) Any beneficial owner of Exchangeable Certificates that
exchanges such Exchangeable Certificates for the Related Exchangeable REMIC
Certificates shall be deemed to have instructed the Master Servicer to remove
such Exchangeable REMIC Certificates from the Grantor Trust, so that
distributions on such Exchangeable REMIC Certificates are made directly from the
Certificate Account to such beneficial owner.

            (c) The Grantor Trust is a WHFIT that is a WHMT. The Master Servicer
shall report as required under the WHFIT Regulations, provided that the Master
Servicer receives on a timely basis any and all information reasonably necessary
for it to do so. The Master Servicer is hereby directed to assume that DTC is
the only "middleman" (as such term is defined in the WHFIT Regulations) unless
the Depositor provides the Master Servicer with the identities of other
"middlemen" that are Certificateholders. The Master Servicer shall be entitled
to rely on the first sentence of this subparagraph (c) and shall be entitled to
indemnification in accordance with the terms of this Agreement in the event that
the Internal Revenue Service makes a determination that the first sentence of
this subparagraph (c) is incorrect.

            (d) The Master Servicer shall report required WHFIT information
using the accrual method, except to the extent the WHFIT Regulations
specifically require a different method. The Master Servicer is under no
obligation to determine whether any Certificateholder or other beneficial owner
of a Certificate, to the extent the Master Servicer knows of any other
beneficial owner of a Certificate, uses the cash or accrual method. The Master
Servicer shall make available information as required by the WHFIT Regulations
to Certificateholders annually. In addition, the Master Servicer is not
responsible or liable for providing subsequently amended, revised or updated
information to any Certificateholder, unless requested by the Certificateholder.

            (e) The Master Servicer shall not be liable for failure to meet the
reporting requirements of the WHFIT Regulations nor for any penalties thereunder
if such failure is due to: (i) the lack of reasonably necessary information
being provided to the Master Servicer, (ii) incomplete, inaccurate or untimely
information being provided to the Master Servicer or (iii) the inability of the
Master Servicer, after good faith efforts, to alter its existing information
reporting systems to capture information necessary to fully comply with the
WHFIT Regulations for the 2007 calendar year. Absent receipt of information
regarding any sale of securities, including the price, amount of proceeds and
date of sale from the beneficial owner thereof or the Depositor, the Master
Servicer will assume there is no secondary market trading of WHFIT interests.

            (f) To the extent required by the WHFIT Regulations, the Master
Servicer shall use reasonable efforts to publish on an appropriate website the
CUSIP Numbers for the Certificates that represent ownership of a WHFIT. The
CUSIP Numbers so published shall represent the Rule 144A CUSIP Numbers. The
Master Servicer shall make reasonable good faith efforts to keep the website
accurate and updated to the extent CUSIP Numbers have been received. The Master
Servicer is not liable for investor reporting delays that result from the
receipt of inaccurate or untimely CUSIP Number information.

            (g) The Master Servicer shall be entitled to additional reasonable
compensation for changes in reporting required in respect of the WHFIT
Regulations that arise as a result of a change in the WHFIT Regulations or a
change in interpretation of the WHFIT Regulations by the Internal Revenue
Service, if such change requires, in the Master Servicer's sole discretion, a
material increase in the Master Servicer's reporting obligations in respect of
the related Grantor Trust.

            Section 4.06 Calculation of Amounts; Binding Effect of
Interpretations and Actions of Master Servicer.

            The Master Servicer will compute the amount of all distributions to
be made on the Certificates and all losses to be allocated to the Certificates.
The Master Servicer will compute all amounts with respect to the Exchangeable
REMIC Certificates and Exchangeable Certificates necessary for preparing the
Distribution Date Statement. In the event that the Master Servicer concludes
that any ambiguity or uncertainty exists in any provisions of this Agreement
relating to distributions to be made on the Certificates, the allocation of
losses to the Certificates or otherwise, the interpretation of such provisions
and any actions taken by the Master Servicer in good faith to implement such
interpretation shall be binding upon Certificateholders.

            Section 4.07 Determination of LIBOR.

            On each Rate Determination Date, the Paying Agent shall determine
LIBOR for the Distribution Date occurring in the succeeding month, on the basis
of the British Bankers' Association ("BBA") "Interest Settlement Rate" for
one-month deposits in U.S. dollars as found on Telerate page 3750 as of 11:00
A.M. London time on such Rate Determination Date. As used herein, "Telerate page
3750" means the display designated as page 3750 on the Moneyline Telerate
Service.

            If on any Rate Determination Date the Paying Agent is unable to
determine LIBOR on the basis of the method set forth in the preceding paragraph,
LIBOR for the applicable Distribution Date will be whichever is higher of (x)
LIBOR as determined on the previous Rate Determination Date or (y) the Reserve
Interest Rate. The "Reserve Interest Rate" will be the rate per annum which the
Paying Agent determines to be either (A) the arithmetic mean (rounding such
arithmetic mean upwards if necessary to the nearest whole multiple of 1/16%) of
the one-month U.S. dollar lending rates that the Reference Banks are quoting, on
the relevant Rate Determination Date, to the principal London offices of at
least two leading banks in the London interbank market or (b) in the event that
the Paying Agent can determine no such arithmetic mean, the lowest one-month
U.S. dollar lending rate that the Reference Banks are quoting on such Rate
Determination Date to leading European banks.

            If on any Rate Determination Date the Paying Agent is required but
is unable to determine the Reserve Interest Rate in the manner provided in the
preceding paragraph, LIBOR for the applicable Distribution Date will be LIBOR as
determined on the previous Rate Determination Date, or, in the case of the first
Rate Determination Date, with respect to the LIBOR Certificates, 5.32%.

            The establishment of LIBOR by the Paying Agent and the Paying
Agent's subsequent calculation of the rates of interest applicable to each of
the LIBOR Certificates in the absence of manifest error, will be final and
binding. After a Rate Determination Date, the Paying Agent shall provide the
Class A Pass-Through Rates of the LIBOR Certificates for the related
Distribution Date to Beneficial Owners or Holders of LIBOR Certificates who
place a telephone call to the Paying Agent at (301) 815-6600 and make a request
therefor during normal working hours on any Business Day.

            Section 4.08 Distributions on Exchangeable Certificates. On each
Distribution Date, the Master Servicer shall withdraw from the Exchangeable
Certificate Grantor Trust Account the amount distributable for each Class of
Exchangeable Certificates and shall make the appropriate distributions to the
Certificateholders of each such Class. All distributions that are made with
respect to a particular Class of Exchangeable Certificates shall be made pro
rata among all Outstanding Certificates of such Class in proportion to their
respective Percentage Interests, with no preference or priority of any kind.

                                   ARTICLE V

                                THE CERTIFICATES

            Section 5.01 The Certificates.

            (a) The Class A and Class B Certificates shall be issued only in
minimum Denominations of a Single Certificate and, except for the Class A-R
Certificate, integral multiples of $1 in excess thereof (except, if necessary,
for one Certificate of the Class B-6 Certificates that evidences one Single
Certificate plus such additional principal portion as is required in order for
all Certificates of such Class to equal the aggregate Original Principal Balance
of such Class) and shall be substantially in the respective forms set forth as
Exhibits A-1, A-2, A-3, A-4, A-5, A-6, A-7, A-8, A-9, A-10, A-11, A-12, A-13,
A-14, A-15, A-16, A-17, A-18, A-19, A-20, A-21, A-22, A-23, A-24, A-25, A-26,
A-27, A-28, A-29, A-30, A-31, A-32, A-33, A-34, A-35, A-36, A-37, A-38, A-39,
A-40, A-41, A-42, A-43, A-44, A-45, A-46, A-47, A-48, A-49, A-50, A-51, A-PO,
A-R, B-1, B-2, B-3, B-4, B-5, B-6 and C (reverse side of Certificates) hereto.
On original issue the Certificates shall be executed and delivered by the Paying
Agent to or upon the order of the Depositor upon receipt by the Trustee or the
Custodian of the documents specified in Section 2.01(a). The aggregate principal
portion evidenced by the Class A and Class B Certificates shall be the sum of
the amounts specifically set forth in the respective Certificates. The
Certificates shall be executed by manual or facsimile signature on behalf of the
Paying Agent by any Responsible Officer thereof. Certificates bearing the manual
or facsimile signatures of individuals who were at any time the proper officers
of the Paying Agent shall bind the Paying Agent notwithstanding that such
individuals or any of them have ceased to hold such offices prior to the
countersigning of such Certificates and delivery of such Certificates or did not
hold such offices at the date of such Certificates. No Certificate shall be
entitled to any benefit under this Agreement, or be valid for any purpose,
unless manually countersigned by a Responsible Officer of the Authenticating
Agent, or unless there appears on such Certificate a certificate of
authentication executed by the Authenticating Agent by manual signature, and
such countersignature or certificate upon a Certificate shall be conclusive
evidence, and the only evidence, that such Certificate has been duly
authenticated and delivered hereunder. All Certificates shall be dated the date
of their authentication.

            Until such time as Definitive Certificates are issued pursuant to
Section 5.09, each Book-Entry Certificate shall bear the following legend:

            "Unless this certificate is presented by an authorized
representative of [the Clearing Agency] to the Depositor or its agent for
registration of transfer, exchange or payment, and any certificate issued is
registered in the name of [the Clearing Agency] or such other name as requested
by an authorized representative of [the Clearing Agency] and any payment is made
to [the Clearing Agency], any transfer, pledge or other use hereof for value or
otherwise by or to any person is wrongful since the registered owner hereof,
[the Clearing Agency], has an interest herein."

            (b) Upon original issuance, the Book-Entry Certificates shall be
issued in the form of one or more typewritten certificates, to be delivered to
The Depository Trust Company, the initial Clearing Agency, by, or on behalf of,
the Depositor or to, and deposited with the Certificate Custodian, on behalf of
The Depository Trust Company, if directed to do so pursuant instructions from
The Depository Trust Company. Such Certificates shall initially be registered in
the Certificate Register in the name of the nominee of the initial Clearing
Agency, and no Beneficial Owner will receive a definitive certificate
representing such Beneficial Owner's interest in the Book-Entry Certificates,
except as provided in Section 5.09. Unless and until definitive, fully
registered certificates ("Definitive Certificates") have been issued to
Beneficial Owners pursuant to Section 5.09:

            (i) the provisions of this Section 5.01(b) shall be in full force
      and effect;

            (ii) the Depositor, the Master Servicer, the Certificate Registrar,
      the Paying Agent and the Trustee may deal with the Clearing Agency for all
      purposes (including the making of distributions on the Book-Entry
      Certificates and the taking of actions by the Holders of Book-Entry
      Certificates) as the authorized representative of the Beneficial Owners;

            (iii) to the extent that the provisions of this Section 5.01(b)
      conflict with any other provisions of this Agreement, the provisions of
      this Section 5.01(b) shall control;

            (iv) the rights of Beneficial Owners shall be exercised only through
      the Clearing Agency and shall be limited to those established by law, the
      rules, regulations and procedures of the Clearing Agency and agreements
      between such Beneficial Owners and the Clearing Agency and/or the Clearing
      Agency Participants, and all references in this Agreement to actions by
      Certificateholders shall, with respect to the Book-Entry Certificates,
      refer to actions taken by the Clearing Agency upon instructions from the
      Clearing Agency Participants, and all references in this Agreement to
      distributions, notices, reports and statements to Certificateholders
      shall, with respect to the Book-Entry Certificates, refer to
      distributions, notices, reports and statements to the Clearing Agency or
      its nominee, as registered holder of the Book-Entry Certificates, as the
      case may be, for distribution to Beneficial Owners in accordance with the
      procedures of the Clearing Agency; and

            (v) the initial Clearing Agency will make book-entry transfers among
      the Clearing Agency Participants and receive and transmit distributions of
      principal and interest on the Certificates to the Clearing Agency
      Participants, for distribution by such Clearing Agency Participants to the
      Beneficial Owners or their nominees.

            For purposes of any provision of this Agreement requiring or
permitting actions with the consent of, or at the direction of, Holders of
Book-Entry Certificates evidencing specified Voting Interests, such direction or
consent shall be given by Beneficial Owners having the requisite Voting
Interests, acting through the Clearing Agency.

            Unless and until Definitive Certificates have been issued to
Beneficial Owners pursuant to Section 5.09, copies of the Distribution Date
Statements shall be available to Beneficial Owners upon written request to the
Paying Agent at its Corporate Trust Office.

            Section 5.02 Registration of Certificates.

            (a) The Certificate Registrar shall cause to be kept at one of the
offices or agencies to be maintained in accordance with the provisions of
Section 5.08 a Certificate Register in which, subject to such reasonable
regulations as it may prescribe, the Certificate Registrar shall provide for the
registration of Certificates and of transfers and exchanges of Certificates as
herein provided. The Master Servicer shall act as, or shall appoint, a
Certificate Registrar for the purpose of registering Certificates and transfers
and exchanges of Certificates as herein provided.

            Upon surrender for registration of transfer of any Certificate at
any office or agency maintained for such purpose pursuant to Section 5.08 (and
subject to the provisions of this Section 5.02) the Paying Agent shall execute,
and shall date, countersign (or cause the Authenticating Agent to countersign)
and deliver, in the name of the designated transferee or transferees, one or
more new Certificates of a like aggregate principal portion or Percentage
Interest and of the same Class.

            At the option of the Certificateholders, Certificates may be
exchanged for other Certificates of authorized Denominations of a like aggregate
principal portion or Percentage Interest and of the same Class upon surrender of
the Certificates to be exchanged at any such office or agency. Whenever any
Certificates are so surrendered for exchange, the Paying Agent shall execute,
and shall date, countersign (or cause the Authenticating Agent to countersign)
and deliver, the Certificates which the Certificateholder making the exchange is
entitled to receive. Every Certificate presented or surrendered for transfer or
exchange shall (if so required by the Certificate Registrar or the Paying Agent)
be duly endorsed by, or be accompanied by a written instrument of transfer in
form satisfactory to the Certificate Registrar, duly executed by the Holder
thereof or his attorney duly authorized in writing.

            No service charge shall be made for any transfer or exchange of
Certificates, but the Certificate Registrar may require payment of a sum
sufficient to cover any tax or governmental charge that may be imposed in
connection with any transfer or exchange of Certificates.

            All Certificates surrendered for transfer and exchange shall be
canceled by the Certificate Registrar, the Paying Agent or the Authenticating
Agent in accordance with their standard procedures.

            (b) No transfer of a Class B-4, Class B-5 or Class B-6 Certificate
shall be made unless the registration requirements of the 1933 Act and any
applicable State securities laws are complied with, or such transfer is exempt
from the registration requirements under said Act and laws. In the event that a
transfer is to be made in reliance upon an exemption from said Act or laws, (i)
unless such transfer is made in reliance on Rule 144A, the Master Servicer or
the Depositor may, if such transfer is to be made within three years after the
later of (a) the date of the initial sale of Certificates or (b) the last date
on which the Depositor or any affiliate thereof was a Holder of the Certificates
proposed to be transferred, require a Class B-4, Class B-5 or Class B-6
Certificateholder to deliver a written Opinion of Counsel acceptable to and in
form and substance satisfactory to the Master Servicer and the Depositor, to the
effect that such transfer may be made pursuant to an exemption, describing the
applicable exemption and the basis therefor, from said Act and laws or is being
made pursuant to said Act and laws, which Opinion of Counsel shall not be an
expense of the Depositor or the Master Servicer, and (ii) the Master Servicer
shall require the transferee (other than an affiliate of the Depositor on the
Closing Date) to execute an investment letter in the form of Exhibit J hereto
certifying to the Depositor and the Master Servicer the facts surrounding such
transfer, which investment letter shall not be an expense of the Depositor or
the Master Servicer. The Holder of a Class B-4, Class B-5 or Class B-6
Certificate desiring to effect such transfer shall, and does hereby agree to,
indemnify the Trustee, the Depositor, the Master Servicer and any Paying Agent
against any liability that may result if the transfer is not so exempt or is not
made in accordance with such federal and state laws. Neither the Depositor nor
the Master Servicer is under an obligation to register the Class B-4, Class B-5
or Class B-6 Certificates under said Act or any other securities law.

            (c) No transfer of a Class B-4, Class B-5 or Class B-6 Certificate
shall be made unless the Master Servicer and the Depositor shall have received
(i) a representation letter from the transferee in the form of Exhibit J hereto,
to the effect that either (a) such transferee is not an employee benefit plan or
other retirement arrangement subject to Title I of ERISA or Code Section 4975,
or a governmental plan, as defined in Section 3(32) of ERISA, subject to any
federal, state or local law ("Similar Law") which is to a material extent
similar to the foregoing provisions of ERISA or the Code (collectively, a
"Plan") and is not a person acting on behalf of or using the assets of any such
Plan, which representation letter shall not be an expense of the Depositor or
the Master Servicer or (b) if such transferee is an insurance company, (A) the
source of funds used to purchase the Class B-4, Class B-5 or Class B-6
Certificate is an "insurance company general account" (as such term is defined
in Section V(e) of Prohibited Transaction Class Exemption 95-60 ("PTE 95-60"),
60 Fed. Reg. 35925 (July 12, 1995)), (B) there is no Plan with respect to which
the amount of such general account's reserves and liabilities for the
contract(s) held by or on behalf of such Plan and all other Plans maintained by
the same employer (or affiliate thereof as defined in Section V(a)(1) of PTE
95-60) or by the same employee organization exceeds 10% of the total of all
reserves and liabilities of such general account (as such amounts are determined
under Section I(a) of PTE 95-60) at the date of acquisition and (C) the purchase
and holding of such Class B-4, Class B-5 or Class B-6 Certificate is covered by
Sections I and III of PTE 95-60 or (ii) in the case of any such Class B-4, Class
B-5 or Class B-6 Certificate presented for registration in the name of a Plan,
or a trustee of any such Plan, (A) an Opinion of Counsel satisfactory to the
Master Servicer and the Depositor to the effect that the purchase or holding of
such Class B-4, Class B-5 or Class B-6 Certificate will not constitute or result
in a non-exempt prohibited transaction within the meaning of ERISA, Section 4975
of the Code or Similar Law and will not subject the Depositor or the Master
Servicer to any obligation in addition to those undertaken in this Agreement,
which Opinion of Counsel shall not be an expense of the Depositor or the Master
Servicer and (B) such other opinions of counsel, Officer's Certificates and
agreements as the Depositor or the Master Servicer may require in connection
with such transfer, which opinions of counsel, Officer's Certificates and
agreements shall not be an expense of the Depositor or the Master Servicer. The
Class B-4, Class B-5 and Class B-6 Certificates shall bear a legend referring to
the foregoing restrictions contained in this paragraph.

            (d) No legal or beneficial interest in all or any portion of the
Residual Certificate may be transferred directly or indirectly to a
"disqualified organization" within the meaning of Code Section 860E(e)(5) or an
agent of a disqualified organization (including a broker, nominee, or
middleman), to a Plan or a Person acting on behalf of or investing the assets of
a Plan (such Plan or Person, an "ERISA Prohibited Holder") or to an individual,
corporation, partnership or other person unless such transferee (i) is not a
Non-U.S. Person or (ii) is a Non-U.S. Person that holds the Residual Certificate
in connection with the conduct of a trade or business within the United States
and has furnished the transferor and the Master Servicer with an effective
Internal Revenue Service Form W-8ECI or (iii) is a Non-U.S. Person that has
delivered to both the transferor and the Master Servicer an opinion of a
nationally recognized tax counsel to the effect that the transfer of the
Residual Certificate to it is in accordance with the requirements of the Code
and the regulations promulgated thereunder and that such transfer of the
Residual Certificate will not be disregarded for federal income tax purposes
(any such person who is not covered by clauses (i), (ii) or (iii) above being
referred to herein as a "Non-permitted Foreign Holder"), and any such purported
transfer shall be void and have no effect. The Paying Agent shall not execute,
and shall not countersign (or cause the Authenticating Agent to countersign) and
deliver, a new Residual Certificate in connection with any such transfer to a
disqualified organization or agent thereof (including a broker, nominee or
middleman), an ERISA Prohibited Holder or a Non-permitted Foreign Holder, and
neither the Certificate Registrar nor the Paying Agent shall accept a surrender
for transfer or registration of transfer, or register the transfer of, the
Residual Certificate, unless the transferor shall have provided to the Master
Servicer an affidavit, substantially in the form attached as Exhibit H hereto,
signed by the transferee, to the effect that the transferee is not such a
disqualified organization, an agent (including a broker, nominee, or middleman)
for any entity as to which the transferee has not received a substantially
similar affidavit, an ERISA Prohibited Holder or a Non-permitted Foreign Holder,
which affidavit shall contain the consent of the transferee to any such
amendments of this Agreement as may be required to further effectuate the
foregoing restrictions on transfer of the Residual Certificate to disqualified
organizations, ERISA Prohibited Holders or Non-permitted Foreign Holders. Such
affidavit shall also contain the statement of the transferee that (i) the
transferee has historically paid its debts as they have come due and intends to
do so in the future, (ii) the transferee understands that it may incur
liabilities in excess of cash flows generated by the residual interest, (iii)
the transferee intends to pay taxes associated with holding the residual
interest as they become due (iv) the transferee will not cause income from the
Residual Certificate to be attributable to a foreign permanent establishment or
fixed base, within the meaning of an applicable income tax treaty, of such
transferee or any other Person, and (v) the transferee will not transfer the
Residual Certificate to any Person who does not provide an affidavit
substantially in the form attached as Exhibit H hereto.

            The affidavit described in the preceding paragraph, if not executed
in connection with the initial issuance of the Residual Certificate, shall be
accompanied by a written statement in the form attached as Exhibit I hereto,
signed by the transferor, to the effect that as of the time of the transfer, the
transferor has no actual knowledge that the transferee is a disqualified
organization, ERISA Prohibited Holder or Non-permitted Foreign Holder, and has
no knowledge or reason to know that the statements made by the transferee with
respect to clauses (i) and (iii) of the last sentence of the preceding paragraph
are not true. The Residual Certificate shall bear a legend referring to the
foregoing restrictions contained in this paragraph and the preceding paragraph.

            Upon actual knowledge of a Master Servicing Officer or a Responsible
Officer of the Paying Agent that any legal or beneficial interest in any portion
of the Residual Certificate has been transferred, directly or indirectly, to a
disqualified organization or agent thereof (including a broker, nominee, or
middleman) in contravention of the foregoing restrictions, (i) such transferee
shall be deemed to hold the Residual Certificate in constructive trust for the
last transferor who was not a disqualified organization or agent thereof, and
such transferor shall be restored as the owner of such Residual Certificate as
completely as if such transfer had never occurred, provided that the Master
Servicer may, but is not required to, recover any distributions made to such
transferee with respect to the Residual Certificate, and (ii) the Master
Servicer agrees to furnish to the Internal Revenue Service and to any transferor
of the Residual Certificate or such agent (within 60 days of the request
therefor by the transferor or agent) such information necessary to the
application of Code Section 860E(e) as may be required by the Code, including
but not limited to the present value of the total anticipated excess inclusions
with respect to the Residual Certificate (or portion thereof) for periods after
such transfer. At the election of the Master Servicer, the cost to the Master
Servicer of computing and furnishing such information may be charged to the
transferor or such agent referred to above; however, the Master Servicer shall
in no event be excused from furnishing such information.

            Section 5.03 Transfer of Exchangeable REMIC Certificates and
Exchangeable Certificates. (a) Upon the presentation and surrender by any
Certificateholder of its Exchangeable REMIC Certificates or Exchangeable
Certificates in the appropriate combination as set forth in Exhibit W hereto,
such Certificateholder shall hereunder transfer, assign, set over and otherwise
convey to the Master Servicer, all of such Certificateholder's right, title and
interest in and to such Exchangeable REMIC Certificates or Exchangeable
Certificates, including all payments of interest thereon received after the date
of such presentation and surrender and until such Certificateholder informs the
Master Servicer that it wishes to again hold its interest in the form of
Exchangeable REMIC Certificates or Exchangeable Certificates, as applicable.

            (b) The Master Servicer acknowledges any transfer and assignment of
Exchangeable REMIC Certificates or Exchangeable Certificates pursuant to the
foregoing paragraph, and hereby declares that it will hold the same in trust for
the Certificateholders on the terms in this Agreement, and shall treat such
Exchangeable REMIC Certificates and Exchangeable Certificates in accordance with
Section 4.08 of this Agreement.

            Section 5.04 Exchanges of Exchangeable REMIC Certificates and
Exchangeable Certificates. (a) Exchangeable REMIC Certificates shall be
exchangeable on the books of DTC for Exchangeable Certificates, and Exchangeable
Certificates shall be exchangeable on the books of DTC for Exchangeable REMIC
Certificates, after the Closing Date, by notice to the Master Servicer
substantially in the form of Exhibit X hereto or, under the terms and conditions
hereinafter set forth and otherwise in accordance with the procedures specified
in this Agreement.

            (b) In the case of the Combination Group, Certificates of the Class
of Exchangeable REMIC Certificates in such Combination Group shall be
exchangeable for Certificates of the Classes of Exchangeable Certificates in
such Combination Group in respective Denominations, determined based on the
proportion that the Maximum Initial Principal Balance of such Exchangeable REMIC
Certificates bear to the Maximum Initial Principal Balance or Maximum Initial
Notional Amount of the Related Exchangeable Certificates, as set forth in
Exhibit W hereto. Except as provided in Section 4.08 of this Agreement, upon any
such exchange, the portions of the Exchangeable REMIC Certificates designated
for exchange shall be deemed cancelled and replaced by the Exchangeable
Certificates issued in exchange therefor. Correspondingly, Exchangeable
Certificates in the Combination Group may be further designated for exchange for
Certificates of the Exchangeable REMIC Class in such Combination Group in
respective Denominations determined based on the proportion that the Maximum
Initial Principal Balance of such Exchangeable REMIC Certificates bear to the
Maximum Initial Principal Balance or Maximum Initial Notional Amount of the
Related Exchangeable Certificates, as set forth in Exhibit W hereto. There shall
be no limitation on the number of exchanges authorized pursuant to this Section
5.04, and, except as provided below, no fee or other charge shall be payable to
the Master Servicer or DTC in connection therewith.

            (c) In order to effect an exchange of Exchangeable REMIC
Certificates or Exchangeable Certificates, the Certificateholder shall notify
the Master Servicer by e-mail at ctsspgexchanges@wellsfargo.com no later than
two Business Days before the proposed exchange date. The exchange date can be
any Business Day from the 25th day of the month through the second to the last
Business Day of the month, subject to the Master Servicer's approval. In
addition, the Certificateholder must provide notice on the Certificateholder's
letterhead, which notice must carry a medallion stamp guarantee and set forth
the following information: the CUSIP number of each Exchangeable REMIC or
Exchangeable Certificate to be exchanged and Exchangeable REMIC or Exchangeable
Certificate to be received; the outstanding principal balance and the portion of
the Maximum Initial Principal Balance or Maximum Initial Notional Amount of the
Exchangeable REMIC Certificates or Exchangeable Certificates to be exchanged;
the Certificateholder's DTC participant number; and the proposed exchange date.
After receiving the notice, the Master Servicer shall e-mail the
Certificateholder with wire payment instructions relating to the exchange fee.
The Certificateholder will utilize the "deposit and withdrawal system" at DTC to
exchange the Certificates. If there is an error, the exchange will not occur
until such error is corrected. A notice becomes irrevocable on the second
Business Day before the proposed exchange date.

            Notwithstanding any other provision herein set forth, an exchange
fee of $5,000 shall be payable to the Master Servicer in connection with each
exchange.

            The Master Servicer shall make the first distribution on an
Exchangeable REMIC Certificate or Exchangeable Certificate received in an
exchange transaction on the Distribution Date in the month following the month
of the exchange to the Certificateholder of record as of the applicable Record
Date for such Certificate.

            Section 5.05 Mutilated, Destroyed, Lost or Stolen Certificates.

            If (i) any mutilated Certificate is surrendered to the Paying Agent,
the Certificate Registrar or the Authenticating Agent, or the Paying Agent, the
Certificate Registrar or the Authenticating Agent receives evidence to its
satisfaction of the destruction, loss or theft of any Certificate, and (ii)
there is delivered to the Paying Agent, the Certificate Registrar or the
Authenticating Agent such security or indemnity as may be required by them to
hold each of them harmless, then, in the absence of notice to the Paying Agent,
the Certificate Registrar or the Authenticating Agent that such Certificate has
been acquired by a bona fide purchaser, the Paying Agent shall execute and
countersign (or cause the Authenticating Agent to countersign) and deliver, in
exchange for or in lieu of any such mutilated, destroyed, lost or stolen
Certificate, a new Certificate of like tenor and principal portion or Percentage
Interest and of the same Class. Upon the issuance of any new Certificate under
this Section, the Paying Agent or the Certificate Registrar may require the
payment of a sum sufficient to cover any tax or other governmental charge that
may be imposed in relation thereto and any other expense (including the fees and
expenses of the Paying Agent or the Authenticating Agent) in connection
therewith. Any duplicate Certificate issued pursuant to this Section shall
constitute complete and indefeasible evidence of ownership in the Trust Estate,
as if originally issued, whether or not the lost, stolen, or destroyed
Certificate shall be found at any time.

            Section 5.06 Persons Deemed Owners.

            Prior to the due presentation of a Certificate for registration of
transfer, the Depositor, the Master Servicer, the Trustee, the Paying Agent, the
Certificate Registrar and any agent of the Depositor, the Master Servicer, the
Trustee, the Paying Agent or the Certificate Registrar may treat the Person in
whose name any Certificate is registered as the owner of such Certificate for
the purpose of receiving distributions pursuant to Section 4.01, and for all
other purposes whatsoever, and neither the Depositor, the Master Servicer, the
Trustee, the Certificate Registrar, the Paying Agent nor any agent of the
Depositor, the Master Servicer, the Trustee, the Certificate Registrar or the
Paying Agent shall be affected by notice to the contrary.

            Section 5.07 Access to List of Certificateholders' Names and
Addresses.

            (a) If the Paying Agent is not acting as Certificate Registrar, the
Certificate Registrar shall furnish or cause to be furnished to the Paying
Agent, within 15 days after receipt by the Certificate Registrar of a request by
the Paying Agent in writing, a list, in such form as the Paying Agent may
reasonably require, of the names and addresses of the Certificateholders of each
Class as of the most recent Record Date.

            (b) If five or more Certificateholders (hereinafter referred to as
"applicants") apply in writing to the Certificate Registrar, and such
application states that the applicants desire to communicate with other
Certificateholders with respect to their rights under this Agreement or under
the Certificates and is accompanied by a copy of the communication which such
applicants propose to transmit, then the Certificate Registrar shall, within
five Business Days following the receipt of such application, afford such
applicants access during normal business hours to the most recent list of
Certificateholders held by the Certificate Registrar.

            (c) Every Certificateholder, by receiving and holding a Certificate,
agrees with the Depositor, the Master Servicer, the Certificate Registrar, the
Paying Agent and the Trustee that neither the Depositor, the Master Servicer,
the Certificate Registrar, the Paying Agent nor the Trustee shall be held
accountable by reason of the disclosure of any such information as to the names,
addresses and Percentage Interests of the Certificateholders hereunder,
regardless of the source from which such information was delivered.

            Section 5.08 Maintenance of Office or Agency.

            The Certificate Registrar will maintain, at its expense, an office
or agency where Certificates may be surrendered for registration of transfer or
exchange and where notices and demands to or upon the Certificate Registrar in
respect of the Certificates and this Agreement may be served. The Certificate
Registrar initially designates the Corporate Trust Office of the Certificate
Registrar, if any, as its offices and agencies for said purposes.

            Section 5.09 Definitive Certificates.

            If (A) the Clearing Agency advises the Paying Agent in writing that
the Clearing Agency is no longer willing or able properly to discharge its
responsibilities as depository with respect to the Book-Entry Certificates, and
(B) the Depositor is unable to locate a qualified successor, the Paying Agent
shall notify the Beneficial Owners, through the Clearing Agency, of the
occurrence of any such event and of the availability of Definitive Certificates
to Beneficial Owners requesting the same. Upon surrender to the Paying Agent by
the Clearing Agency of the Certificates held of record by its nominee,
accompanied by reregistration instructions and directions to execute and
authenticate new Certificates from the Depositor, the Paying Agent shall execute
and cause the Authenticating Agent to countersign Definitive Certificates for
delivery at its Corporate Trust Office. The Depositor shall arrange for, and
will bear all costs of, the printing and issuance of such Definitive
Certificates. Except with the consent of the Depositor, the Paying Agent shall
not execute or cause the Authenticating Agent to countersign Definitive
Certificates in exchange for Book-Entry Certificates except as set forth above.
Neither the Depositor, the Master Servicer nor the Paying Agent shall be liable
for any delay in delivery of such instructions by the Clearing Agency and may
conclusively rely on, and shall be protected in relying on, such instructions.

            Section 5.10 Notices to Clearing Agency.

            Whenever notice or other communication to the Holders of Book-Entry
Certificates is required under this Agreement, unless and until Definitive
Certificates shall have been issued to Beneficial Owners pursuant to Section
5.09, the Paying Agent shall give all such notices and communications specified
herein to be given to Holders of Book-Entry Certificates to the Clearing Agency.

                                   ARTICLE VI

                      THE DEPOSITOR AND THE MASTER SERVICER

            Section 6.01 Liability of the Depositor and the Master Servicer.

            The Depositor and the Master Servicer shall each be liable in
accordance herewith only to the extent of the obligations specifically imposed
by this Agreement and undertaken hereunder by the Depositor and the Master
Servicer.

            Section 6.02 Merger or Consolidation of the Depositor or the Master
Servicer.

            Subject to the following paragraph (a) the Depositor will keep in
full effect its existence, rights and franchises as a corporation under the laws
of the jurisdiction of its incorporation, and will 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, the Certificates or any of the Mortgage Loans
and to perform its respective duties under this Agreement and (b) the Master
Servicer will keep in full effect its power and authority as a national banking
association under the laws of the jurisdiction of its organization, and will
obtain and preserve its qualification to do business in each jurisdiction in
which such qualification is or shall be necessary to protect the validity and
enforceability of this Agreement, the Certificates or any of the Mortgage Loans
and to perform its respective duties under this Agreement.

            The Depositor or the Master Servicer may be merged or consolidated
with or into any Person, or transfer all or substantially all of its assets to
any Person, in which case any Person resulting from any merger or consolidation
to which the Depositor or Master Servicer shall be a party, or any Person
succeeding to the business of the Depositor or Master Servicer, shall be the
successor of the Depositor or Master Servicer 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, (a) in the case of the Master Servicer, any such successor or resulting
Person shall have a net worth of not less than $15,000,000 and be qualified to
service mortgage loans for Fannie Mae or Freddie Mac and (b) the Master Servicer
and such successor or surviving Person shall notify the Depositor and the
Trustee of any such merger, conversion or consolidation at least two Business
Days prior to the effective date thereof (unless giving such prior notice would
be prohibited by applicable law or by a confidentiality agreement, in which case
notice shall be given by 12 noon Eastern time one Business Day after such merger
or consolidation).

            Section 6.03 Limitation on Liability of the Depositor, the Master
Servicer and Others.

            Neither the Depositor nor the Master Servicer nor any subcontractor
nor any of the directors, officers, employees or agents of any of them shall be
under any liability to the Trust Estate or the Certificateholders and all such
Persons shall be held harmless 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; provided, however, that this provision shall not protect any such
Person against any breach of warranties or representations made herein or
against any liability which would otherwise be imposed by reason of willful
misfeasance, bad faith or gross negligence in the performance of duties or by
reason of reckless disregard of obligations and duties hereunder. The Depositor,
the Master Servicer, any subcontractor, and any director, officer, employee or
agent of any of them shall be entitled to indemnification by the Trust Estate
and will be held harmless against any loss, liability or expense incurred in
connection with the performance of their duties and obligations, the exercise of
their rights or any legal action (including but not limited to, costs and
expenses of litigation, and of investigation, attorney's fees, damages,
judgments and amounts paid in settlement) under this Agreement, the Certificates
or the Mortgage Loans (except for amounts due by the Depositor in connection
with the breach of a representation or warranty covering the Mortgage Loans),
including, in the case of the Master Servicer, any indemnity amounts paid by the
Master Servicer to a Servicer pursuant to the applicable Servicing Agreement,
other than any loss, liability or expense (including without limitation,
expenses payable by the Master Servicer under Section 8.06) incurred by reason
of willful misfeasance, bad faith or gross negligence in the performance of his
or its duties hereunder or by reason of reckless disregard of his or its
obligations and duties hereunder. The Depositor, the Master Servicer and any of
the directors, officers, employees or agents of either may rely in good faith on
any document of any kind which, prima facie, is properly executed and submitted
by any Person respecting any matters arising hereunder. Neither the Depositor
nor the Master Servicer shall be under any obligation to appear in, prosecute or
defend any legal action unless such action is related to its respective duties
under this Agreement and, in its opinion, does not involve it in any expense or
liability; provided, however, that the Depositor or the Master Servicer may in
its discretion undertake any such action which it may deem necessary or
desirable with respect to this Agreement and the rights and duties of the
parties hereto and the interests of the Certificateholders hereunder if the
Certificateholders offer to the Depositor or the Master Servicer, as the case
may be, reasonable security or indemnity against the costs, expenses and
liabilities which may be incurred therein or thereby. In such event, the legal
expenses and costs of such action and any liability resulting therefrom shall be
expenses, costs and liabilities of the Trust Estate, and the Depositor or the
Master Servicer shall be entitled to be reimbursed therefor out of the
Certificate Account, and such amounts shall, on the following Distribution Date
or Distribution Dates, be allocated in reduction of distributions on the Class A
Certificates and Class B Certificates in the same manner as Realized Losses are
allocated pursuant to Section 4.02(a).

            Section 6.04 Resignation of the Master Servicer.

            The Master Servicer shall not resign from the obligations and duties
hereby imposed on it except (a) upon appointment of a successor master servicer
and receipt by the Trustee of a letter from each Rating Agency that such a
resignation and appointment will not result in a downgrading of the rating of
any of the Certificates, (b) upon determination that its duties hereunder are no
longer permissible under applicable law, or (c) pursuant to Section 6.06. Any
such determination under clause (b) permitting the resignation of the Master
Servicer shall be evidenced by an Opinion of Counsel to such effect delivered to
the Trustee. No such resignation shall become effective until the Trustee or a
successor master servicer shall have assumed the Master Servicer's
responsibilities, duties, liabilities and obligations hereunder.

            Section 6.05 Compensation to the Master Servicer.

            The Master Servicer shall be entitled to receive a monthly fee equal
to the Master Servicing Fee, as compensation for services rendered by the Master
Servicer under this Agreement. The Master Servicer also will be entitled to any
late reporting fees paid by a Servicer pursuant to its Servicing Agreement, any
investment income on funds on deposit in the Certificate Account invested in
accordance with Section 3.01(c), any investment income on funds on deposit in
the Payment Account invested in accordance with Section 4.03(a) and any
Liquidation Profits to which a Servicer is not entitled under its Servicing
Agreement.

            Section 6.06 Assignment or Delegation of Duties by Master Servicer.

            (a) The Master Servicer shall not assign or transfer any of its
rights, benefits or privileges under this Agreement to any other Person, or
delegate to or subcontract with, or authorize or appoint any other Person to
perform any of the duties, covenants or obligations to be performed by the
Master Servicer without the prior written consent of the Trustee, and any
agreement, instrument or act purporting to effect any such assignment, transfer,
delegation or appointment shall be void. Notwithstanding the foregoing, subject
to Section 6.06(b), the Master Servicer shall have the right without the prior
written consent of the Trustee (i) to assign its rights and delegate its duties
and obligations hereunder; provided, however, that (a) the purchaser or
transferee accepting such assignment or delegation is qualified to service
mortgage loans for Fannie Mae or Freddie Mac, and executes and delivers to the
Trustee an agreement, in form and substance reasonably satisfactory to the
Trustee, which contains an assumption by such purchaser or transferee of the due
and punctual performance and observance of each covenant and condition to be
performed or observed by the Master Servicer hereunder from and after the date
of such agreement; and (b) each applicable Rating Agency's rating of any
Certificates in effect immediately prior to such assignment, sale or transfer is
not reasonably likely to be qualified, downgraded or withdrawn as a result of
such assignment, sale or transfer and the Certificates are not reasonably likely
to be placed on credit review status by any such Rating Agency; and (ii) to
delegate to, subcontract with, authorize, or appoint an affiliate of the Master
Servicer to perform and carry out any duties, covenants or obligations to be
performed and carried out by the Master Servicer under this Agreement and hereby
agrees so to delegate, subcontract, authorize or appoint to an affiliate of the
Master Servicer any duties, covenants or obligations to be performed and carried
out by the Master Servicer to the extent that such duties, covenants or
obligations are to be performed in any state or states in which the Master
Servicer is not authorized to do business as a foreign corporation but in which
the affiliate is so authorized. In no case, however, shall any permitted
assignment and delegation relieve the Master Servicer of any liability to the
Trustee or the Depositor under this Agreement, incurred by it prior to the time
that the conditions contained in clause (i) above are met.

            (b) Notwithstanding anything contained herein to the contrary, to
the extent the Master Servicer engages any affiliate or third party vendor, in
connection with the performance of any of its duties under this Agreement, the
Master Servicer shall immediately notify the Depositor in writing of such
engagement (to the extent it has not already notified the Depositor pursuant to
clause (a) above); provided however, that prior to engaging any affiliate or
third party vendor in connection with the performance of any of its duties under
this Agreement, the Master Servicer shall determine (i) if such affiliates or
third party vendors would be a Servicing Function Participant and (ii) if such
affiliate or third party vendor would be a "servicer" within the meaning of Item
1101 of Regulation AB (an "Additional Master Servicer") and meets the criteria
in Item 1108(a)(2)(i), (ii) or (iii) of Regulation AB. If the Master Servicer
has determined that such affiliates or third party vendors are a Servicing
Function Participant, the Master Servicer shall cause such Servicing Function
Participant to prepare and deliver to the Master Servicer a separate assessment
and attestation report, as contemplated by Section 3.11 of this Agreement. In
addition, if the Master Servicer has determined that any such affiliate or third
party vendor would be an Additional Master Servicer and meets the criteria in
Item 1108(a)(2)(i), (ii) or (iii) of Regulation AB, the Master Servicer shall
cause such Additional Master Servicer to prepare and deliver to the Master
Servicer a separate compliance statement as contemplated by Section 3.05 of this
Agreement. In addition, if the Master Servicer determines any such affiliate or
third party vendor would be a "servicer" within the meaning of Item 1101 of
Regulation AB, the Master Servicer shall not engage such affiliate or third
party vendor unless it provides the Master Servicer and the Depositor the
information required by Section 1108(b) and 1108(c) of Regulation AB prior to
such engagement.

            (c) In the event of any assignment of rights or delegation of duties
of the Master Servicer, the Master Servicer shall report such event on Form 8-K
within four Business Days after the effective date thereof.

            Section 6.07 Indemnification of Trustee and Depositor by Master
Servicer.

            The Master Servicer shall indemnify and hold harmless the Trustee
and the Depositor and any director, officer or agent thereof against any loss,
liability or expense, including reasonable attorney's fees, arising out of, in
connection with or incurred by reason of (a) willful misfeasance, bad faith or
negligence in the performance of duties of the Master Servicer under this
Agreement or by reason of reckless disregard of its obligations and duties under
this Agreement, including, but not limited to the Master Servicer's obligation
to deliver any information, report, certification, accountants' letter or other
material required to comply with Regulation AB or (b) any material breach by the
Master Servicer of any of the representations and warranties contained in
Section 2.03(a). Any payment pursuant to this Section made by the Master
Servicer to the Trustee or the Depositor shall be from such entity's own funds,
without reimbursement therefor. The provisions of this Section 6.07 shall
survive the termination of this Agreement.

            Section 6.08 Master Servicer Errors and Omissions Policy.

            The Master Servicer shall maintain, at all times and at its own
expense, a Master Servicer Errors and Omissions Policy, which policy shall have
such terms and coverage amounts as are comparable to those of errors and
omissions policies maintained by master servicers of mortgage loans generally.

            The Master Servicer Errors and Omissions Policy shall insure the
Master Servicer, its successors and assigns, against any losses resulting from
negligence, errors or omissions on the part of officers, employees or other
persons acting on behalf of the Master Servicer in the performance of its duties
as Master Servicer pursuant to this Agreement.

            The Master Servicer shall maintain in effect the Master Servicer
Errors and Omissions Policy at all times and the Master Servicer Errors and
Omissions Policy may not be canceled, permitted to lapse or otherwise terminated
without the acquisition of comparable coverage by the Master Servicer.

                                  ARTICLE VII

                                     DEFAULT

            Section 7.01 Events of Default.

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

            (i) any failure by the Master Servicer to remit any funds to the
      Paying Agent as required by Section 4.03 continues unremedied for a period
      of three business days after either (a) receipt by the Master Servicer of
      written notice of such failure, requiring the same to be remedied, shall
      have been given to the Master Servicer by the Trustee or to the Master
      Servicer and the Trustee by the holders of Certificates evidencing in the
      aggregate not less than 25% of the aggregate Voting Interest represented
      by all Certificates or (b) solely in the case of the failure of the Master
      Servicer to remit any Periodic Advance required to be remitted pursuant to
      Section 3.03, the date upon which the Master Servicer delivered to the
      Trustee the certification required by Section 3.03(a);

            (ii) any failure on the part of the Master Servicer to observe or
      perform in any material respect any of its covenants or agreements under
      Sections 3.05, 3.11 or 3.12 hereof, subject to any cure period set forth
      in such sections;

            (iii) any failure on the part of the Master Servicer duly to observe
      or perform in any material respect any other of the covenants or
      agreements on the part of the Master Servicer in the Certificates or in
      this Agreement, which continues unremedied for a period of 60 days after
      the date on which written notice of such failure, requiring the same to be
      remedied, shall have been given to the Master Servicer by the Trustee or
      the Depositor, or to the Master Servicer and the Trustee by the holders of
      Certificates evidencing in the aggregate not less than 25% of the
      aggregate Voting Interest represented by all Certificates;

            (iv) a decree or order of a court or agency or supervisory authority
      having jurisdiction in the premises for the appointment of a trustee,
      conservator, receiver or liquidator in any bankruptcy, insolvency,
      readjustment of debt, marshaling of assets and liabilities or similar
      proceedings, or for the winding-up or liquidation of its affairs, shall
      have been entered against the Master Servicer and such decree or order
      shall have remained in force undischarged and unstayed for a period of 60
      days;

            (v) the Master Servicer shall consent to the appointment of a
      trustee, conservator, receiver or liquidator or liquidating committee in
      any bankruptcy, insolvency, readjustment of debt, marshaling of assets and
      liabilities, voluntary liquidation or similar proceedings of or relating
      to the Master Servicer, or of or relating to all or substantially all of
      its property;

            (vi) the Master 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, bankruptcy or reorganization statute, make
      an assignment for the benefit of its creditors or voluntarily suspend
      payment of its obligations;

            (vii) the Master Servicer shall be dissolved, or shall dispose of
      all or substantially all of its assets; or consolidate with or merge into
      another entity or shall permit another entity to consolidate or merge into
      it, such that the resulting entity does not meet the criteria for a
      successor servicer, as specified in Section 6.02 hereof; or

            (viii) the Master Servicer and any Subservicer appointed by it
      becomes ineligible to service for both Fannie Mae and Freddie Mac, which
      ineligibility continues unremedied for a period of 90 days;

then, and in each and every such case, subject to applicable law, so long as an
Event of Default shall not have been remedied, either the Trustee or the holders
of Certificates evidencing in the aggregate not less than 66 2/3% of the
aggregate Voting Interest represented by all Certificates, by notice in writing
to the Master Servicer (and to the Trustee if given by the Certificateholders)
may terminate all of the rights and obligations of the Master Servicer under
this Agreement and in and to the Mortgage Loans, but without prejudice to any
rights which the Master Servicer may have to the aggregate Master Servicing Fees
due prior to the date of transfer of the Master Servicer's responsibilities
hereunder, reimbursement of expenses to the extent permitted by this Agreement,
Periodic Advances and other advances of its own funds. Upon receipt by the
Master Servicer of such written notice, all authority and power of the Master
Servicer under this Agreement, whether with respect to the Certificates or the
Mortgage Loans or otherwise, shall pass to and be vested in the Trustee pursuant
to and under this Section, subject to the provisions of Section 7.05; and,
without limitation, the Trustee is hereby authorized and empowered to execute
and deliver, on behalf of the Master Servicer, as attorney-in-fact or otherwise,
any and all documents and other instruments, and to 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. The Master Servicer
agrees to cooperate with the Trustee in effecting the termination of the Master
Servicer's responsibilities and rights hereunder and shall promptly provide the
Trustee all documents and records reasonably requested by it to enable it to
assume the Master Servicer's functions hereunder and shall promptly also
transfer to the Trustee all amounts which then have been or should have been
deposited in the Certificate Account by the Master Servicer or which are
thereafter received by the Master Servicer with respect to the Mortgage Loans.

            Section 7.02 Other Remedies of Trustee.

            During the continuance of any Event of Default, so long as such
Event of Default shall not have been remedied, the Trustee, in addition to the
rights specified in Section 7.01, shall have the right, in its own name as
trustee of an express trust, to take all actions now or hereafter existing at
law, in equity or by statute to enforce its rights and remedies and to protect
the interests, and enforce the rights and remedies, of the Certificateholders
(including the institution and prosecution of all judicial, administrative and
other proceedings and the filing of proofs of claim and debt in connection
therewith). Except as otherwise expressly provided in this Agreement, no remedy
provided for by this Agreement shall be exclusive of any other remedy, and each
and every remedy shall be cumulative and in addition to any other remedy and no
delay or omission to exercise any right or remedy shall impair any such right or
remedy or shall be deemed to be a waiver of any Event of Default.

            Section 7.03 Directions by Certificateholders and Duties of Trustee
During Event of Default.

            During the continuance of any Event of Default, Holders of
Certificates evidencing in the aggregate not less than 25% of the aggregate
Voting Interest represented by all Certificates may direct the time, method and
place of conducting any proceeding for any remedy available to the Trustee, or
exercising any trust or power conferred upon the Trustee, under this Agreement;
provided, however, that the Trustee shall be under no obligation to pursue any
such remedy, or to exercise any of the rights or powers vested in it by this
agreement (including, without limitation, (i) the conducting or defending of any
administrative action or litigation hereunder or in relation hereto and (ii) the
terminating of the Master Servicer from its rights and duties as servicer
hereunder) at the request, order or direction of any of the Certificateholders,
unless such Certificateholders shall have offered to the Trustee reasonable
security or indemnity against the cost, expenses and liabilities which may be
incurred therein or thereby and, provided further, that, subject to the
provisions of Section 8.01, the Trustee shall have the right to decline to
follow any such direction if the Trustee, in accordance with an Opinion of
Counsel, determines that the action or proceeding so directed may not lawfully
be taken or if the Trustee in good faith determines that the action or
proceeding so directed would involve it in personal liability or be unjustly
prejudicial to the nonassenting Certificateholders.

            Section 7.04 Action upon Certain Failures of the Master Servicer and
upon Event of Default.

            In the event that the Trustee shall have knowledge of any failure of
the Master Servicer specified in Section 7.01(i), (ii) or (iii) which would
become an Event of Default upon the Master Servicer's failure to remedy the same
after notice, the Trustee may, but need not if the Trustee deems it not in the
Certificateholders' best interest, give notice thereof to the Master Servicer;
provided however that, without limiting any remedy as a result of such failure,
the Trustee shall be required to give notice thereof to the Master Servicer in
the case of the failure by the Master Servicer to observe or perform any of its
covenants under Sections 3.05, 3.11, 3.12, 6.02 or 6.06(b) of this Agreement.
For all purposes of this Agreement, in the absence of actual knowledge by a
Responsible Officer of the Trustee, the Trustee shall not be deemed to have
knowledge of any failure of the Master Servicer as specified in Section 7.01(i),
(ii) and (iii) or any Event of Default unless notified thereof in writing by the
Master Servicer or by a Certificateholder.

            Section 7.05 Trustee to Act; Appointment of Successor.

            When the Master Servicer receives notice of termination pursuant to
Section 7.01 or the Trustee receives the resignation of the Master Servicer
evidenced by an Opinion of Counsel pursuant to Section 6.04, the Trustee shall
be the successor in all respects to the Master Servicer in its capacity as
master servicer under this Agreement and the transactions set forth or provided
for herein and shall have the rights and powers and be subject to all the
responsibilities, duties and liabilities relating thereto placed on the Master
Servicer by the terms and provisions hereof and in its capacity as such
successor shall have the same limitation of liability herein granted to the
Master Servicer. In the event that the Trustee is succeeding to the Master
Servicer as the Master Servicer, as compensation therefor, the Trustee shall be
entitled to receive monthly such portion of the Master Servicing Fee, together
with such other master servicing compensation as is agreed to at such time by
the Trustee and the Master Servicer, but in no event more than 25% thereof until
the date of final cessation of the Master Servicer's master servicing activities
hereunder. Notwithstanding the above, the Trustee may, if it shall be unwilling
to so act, or shall, if it is unable to so act or to obtain a qualifying bid as
described below, appoint, or petition a court of competent jurisdiction to
appoint, any housing and home finance institution, bank or mortgage servicing
institution having a net worth of not less than $10,000,000 and meeting such
other standards for a successor master servicer as are set forth herein, as the
successor to the Master Servicer hereunder in the assumption of all or any part
of the responsibilities, duties or liabilities of the Master Servicer hereunder;
provided, however, that until such a successor master servicer is appointed and
has assumed the responsibilities, duties and liabilities of the Master Servicer
hereunder, the Trustee shall continue as the successor to the Master Servicer as
provided above. Upon cessation of the Master Servicer's master servicing
activities hereunder, the Trustee or any other successor master servicer shall
be entitled to compensation not exceed the compensation specified in Section
6.05 hereof, which amount shall include compensation for acting as paying agent.
If the Master Servicer and the Paying Agent are not the same party, the Master
Servicer shall pay the compensation of the Paying Agent. In the event the
Trustee is required to solicit bids as provided above, the Trustee shall
solicit, by public announcement, bids from housing and home finance
institutions, banks and mortgage servicing institutions meeting the
qualifications set forth in the preceding sentence for the purchase of the
master servicing functions. Such public announcement shall specify that the
successor master servicer shall be entitled to the full amount of the Master
Servicing Fee as compensation together with the other master servicing
compensation in the form of late reporting fees or otherwise as provided in
Section 6.05, which amount shall include compensation for acting as paying
agent. Within 30 days after any such public announcement, the Trustee shall
negotiate and effect the sale, transfer and assignment of the master servicing
rights and responsibilities hereunder to the qualified party submitting the
highest qualifying bid. The Trustee shall deduct all costs and expenses of any
public announcement and of any sale, transfer and assignment of the master
servicing rights and responsibilities hereunder from any sum received by the
Trustee from the successor to the Master Servicer in respect of such sale,
transfer and assignment. After such deductions, the remainder of such sum shall
be paid by the Trustee to the Master Servicer at the time of such sale, transfer
and assignment to the Master Servicer's successor. The Trustee and such
successor shall take such action, consistent with this Agreement, as shall be
necessary to effectuate any such succession. The Master Servicer agrees to
cooperate with the Trustee and any successor master servicer in effecting the
termination of the Master Servicer's servicing responsibilities and rights
hereunder and shall promptly provide the Trustee or such successor master
servicer, as applicable, all documents and records reasonably requested by it to
enable it to assume the Master Servicer's function hereunder and shall promptly
also transfer to the Trustee or such successor master servicer, as applicable,
all amounts which then have been or should have been deposited in the
Certificate Account by the Master Servicer or which are thereafter received by
the Master Servicer with respect to the Mortgage Loans. Neither the Trustee nor
any other successor master servicer shall be deemed to be in default hereunder
by reason of any failure to make, or any delay in making, any distribution
hereunder or any portion thereof caused by (i) the failure of the Master
Servicer to deliver, or any delay in delivering, cash, documents or records to
it, or (ii) restrictions imposed by any regulatory authority having jurisdiction
over the Master Servicer. Notwithstanding anything to the contrary contained in
Section 7.01 above or this Section 7.05, the Master Servicer shall retain all of
its rights and responsibilities hereunder, and no successor (including the
Trustee) shall succeed thereto, if the assumption thereof by such successor
would cause the rating assigned to any Certificates to be revoked, downgraded or
placed on credit review status (other than for possible upgrading) by either
Rating Agency and the retention thereof by the Master Servicer would avert such
revocation, downgrading or review.

            All costs associated with the appointment of a successor master
servicer, to the extent not deducted from any sum received by the Trustee from
the successor master servicer, shall be paid to the Person that incurred them by
the predecessor master servicer. Without limiting the predecessor master
servicer's obligation, if the predecessor master servicer fails to pay such
costs, such costs shall be reimbursed by the Trust.

            The predecessor Master Servicer and successor Master Servicer shall
notify the Depositor and Trustee of any such appointment at least two Business
Days prior to the effective date thereof and shall provide the Depositor and the
Trustee with all information required by the Depositor to comply with its
reporting obligation under Item 6.02 of Form 8-K not later than the effective
date of such appointment and the successor Master Servicer shall report such
event on Form 8-K within four business days of the occurrence of such event.

            Section 7.06 Notification to Certificateholders.

            Upon any termination of the Master Servicer or appointment of a
successor master servicer, in each case as provided herein, the Trustee shall
give prompt written notice thereof to Certificateholders at their respective
addresses appearing in the Certificate Register. The Trustee shall also, within
45 days after the occurrence of any Event of Default known to the Trustee, give
written notice thereof to Certificateholders at their respective addresses
appearing in the Certificate Register, unless such Event of Default shall have
been cured or waived within said 45 day period.

                                  ARTICLE VIII

                             CONCERNING THE TRUSTEE

            Section 8.01 Duties of Trustee.

            The Trustee, prior to the occurrence of an Event of Default of which
a Responsible Officer of the Trustee shall have actual knowledge and after the
curing of all Events of Default which may have occurred, undertakes to perform
such duties and only such duties as are specifically set forth in this
Agreement. In case an Event of Default of which a Responsible Officer of the
Trustee shall have actual knowledge has occurred (which has not been cured), the
Trustee, subject to the provisions of Sections 7.01, 7.03, 7.04 and 7.05, shall
exercise such of the rights and powers vested in it by this Agreement, and use
the same degree of care and skill in its exercise as a prudent person would
exercise or use under the circumstances in the conduct of such person's own
affairs.

            The Trustee, upon receipt of all resolutions, certificates,
statements, opinions, reports, documents, orders or other instruments furnished
to the Trustee, which are specifically required to be furnished pursuant to any
provision of this Agreement, shall examine them to determine whether they are in
the form required by this Agreement; provided, however, that the Trustee shall
not be responsible for the accuracy or content of any certificate, statement,
instrument, report, notice or other document furnished by the Master Servicer or
the Servicers hereunder.

            No provision of this Agreement shall be construed to relieve the
Trustee from liability for its own negligent action, its own negligent failure
to act or its own willful misconduct; provided, however, that:

            (i) Prior to the occurrence of an Event of Default of which a
      Responsible Officer of the Trustee shall have actual knowledge and after
      the curing of all such Events of Default which may have occurred, the
      duties and obligations of the Trustee shall be determined solely by the
      express provisions of this Agreement, the Trustee shall not be liable
      except for the performance of such duties and obligations as are
      specifically set forth in this Agreement, no implied covenants or
      obligations shall be read into this Agreement against the Trustee and, in
      the absence of bad faith on the part of the Trustee, the Trustee may
      conclusively rely, as to the truth of the statements and the correctness
      of the opinions expressed therein, upon any certificates or opinions
      furnished to the Trustee, and conforming to the requirements of this
      Agreement;

            (ii) The Trustee shall not be personally liable with respect to any
      action taken, suffered or omitted to be taken by it in good faith in
      accordance with the direction of holders of Certificates which evidence in
      the aggregate not less than 25% of the Voting Interest represented by all
      Certificates relating to the time, method and place of conducting any
      proceeding for any remedy available to the Trustee, or exercising any
      trust or power conferred upon the Trustee, under this Agreement;

            (iii) The Trustee shall not be liable for any error of judgment made
      in good faith by any of its Responsible Officers, unless it shall be
      proved that the Trustee or such Responsible Officer, as the case may be,
      was negligent in ascertaining the pertinent facts; and

            (iv) The Trustee shall not be required to take notice or be deemed
      to have notice or knowledge of any default or Event of Default unless a
      Responsible Officer of the Trustee shall have received written notice or
      obtained actual knowledge thereof. In absence of such notice or actual
      knowledge, the Trustee may conclusively assume that there is no default or
      Event of Default.

            None of the provisions contained in this Agreement shall require the
Trustee to expend or risk its own funds or otherwise incur personal financial
liability in the performance of any of its duties hereunder or in the exercise
of any of its rights or powers if there is reasonable ground for believing that
repayment of such funds or adequate indemnity against such risk or liability is
not reasonably assured to it.

            Section 8.02 Certain Matters Affecting the Trustee.

            Except as otherwise provided in Section 8.01:

            (i) The Trustee may request and rely and shall be protected in
      acting or refraining from acting upon any resolution, Officer's
      Certificate, certificate of auditors or any other certificate, statement,
      instrument, opinion, report, notice, request, consent, order, appraisal,
      bond or other paper or document believed by it to be genuine and to have
      been signed or presented by the proper party or parties and the manner of
      obtaining consents and evidencing the authorization of the execution
      thereof shall be subject to such reasonable regulations as the Trustee may
      prescribe;

            (ii) The Trustee may consult with counsel, and any advice of such
      counsel or any Opinion of Counsel shall be full and complete authorization
      and protection in respect of any action taken or suffered or omitted by it
      hereunder in good faith and in accordance with such advice or Opinion of
      Counsel;

            (iii) The Trustee shall not be personally liable for any action
      taken, suffered or omitted by it in good faith and believed by it to be
      authorized or within the discretion or rights or powers conferred upon it
      by this Agreement;

            (iv) Subject to Section 7.04, the Trustee shall not be accountable,
      shall have no liability and makes no representation as to any acts or
      omissions hereunder of the Master Servicer until such time as the Trustee
      may be required to act as Master Servicer pursuant to Section 7.05 and
      thereupon only for the acts or omissions of the Trustee as successor
      Master Servicer;

            (v) The Trustee may execute any of the trusts or powers hereunder or
      perform any duties hereunder either directly or by or through agents or
      attorneys and the Trustee shall not be responsible for any misconduct or
      negligence on the part of such agent or attorney appointed by any other
      party to this Agreement, including without limitation, the appointment of
      any custodian;

            (vi) The Trustee shall be under no obligation to exercise any of the
      trusts or powers vested in it by the Agreement, conduct or defend any
      litigation hereunder or in relation hereto at the request, order or
      direction of any of the Certificateholders, pursuant to the provisions of
      this Agreement, unless such Certificateholders shall have offered to the
      Trustee security or indemnity satisfactory to the Trustee against the
      costs, expenses and liabilities which may be incurred therein or herein
      (which in the case of Certificateholders representing in the aggregate not
      less than 66-2/3% of the aggregate Voting Interests will be deemed
      satisfied by a letter agreement with respect to such costs from such
      Certificateholders);

            (vii) The right of the Trustee to perform any discretionary act
      enumerated in this Agreement shall not be construed as a duty, and the
      Trustee shall not be answerable for other than its negligence of willful
      misconduct in the performance of such act; and

            (viii) The Trustee shall not be required to give any bond or surety
      in respect of the execution of the Trust Estate created hereby or the
      powers granted hereunder.

            Section 8.03 Trustee Not Required to Make Investigation.

            Prior to the occurrence of an Event of Default of which a
Responsible Officer of the Trustee shall have actual knowledge hereunder and
after the curing of all Events of Default which may have occurred, the Trustee
shall not be bound to make any investigation into the facts or matters stated in
any resolution, certificate, statement, instrument, opinion, report, notice,
request, consent, order, appraisal, bond, Mortgage, Mortgage Note or other paper
or document (provided the same appears regular on its face), unless requested in
writing to do so by holders of Certificates evidencing in the aggregate not less
than 51% of the Voting Interest represented by all Certificates; provided,
however, that if the payment within a reasonable time to the Trustee of the
costs, expenses or liabilities likely to be incurred by it in the making of such
investigation is, in the opinion of the Trustee, not reasonably assured to the
Trustee by the security afforded to it by the terms of this Agreement, the
Trustee may require indemnity reasonably satisfactory to the Trustee against
such cost, expense or liability as a condition to so proceeding. The reasonable
expense of every such investigation shall be paid by the Master Servicer or, if
paid by the Trustee shall be repaid by the Master Servicer upon demand from the
Master Servicer's own funds.

            Section 8.04 Trustee Not Liable for Certificates or Mortgage Loans.

            The recitals contained herein and in the Certificates shall be taken
as the statements of the Depositor, and the Trustee assumes no responsibility as
to the correctness of the same. The Trustee makes no representation for the
correctness of the same. The Trustee makes no representation as to the validity
or sufficiency of this Agreement or of the Certificates or of any Mortgage Loan
or related document. Subject to Section 2.04, the Trustee shall not be
accountable for the use or application by the Depositor of any of the
Certificates or of the proceeds of such Certificates, or for the use or
application of any funds paid to the Master Servicer in respect of the Mortgage
Loans deposited in or withdrawn from the Certificate Account by the Master
Servicer or, in its capacity as trustee, for investment of any such amounts.

            Section 8.05 Trustee May Own Certificates.

            The Trustee, and any agent thereof, in its individual or any other
capacity, may become the owner or pledgee of Certificates with the same rights
it would have if it were not Trustee or such agent and may transact banking
and/or trust business with the Depositor, the Master Servicer or their
Affiliates.

            Section 8.06 The Master Servicer to Pay Fees and Expenses;
Limitation on Liability.

            The Master Servicer covenants and agrees to pay to the Trustee from
time to time, from its own funds, and the Trustee shall be entitled to receive,
reasonable compensation (which shall not be limited by any provision of law in
regard to the compensation of a trustee of an express trust) for all services
rendered by it in the execution of the trusts hereby created and in the exercise
and performance of any of the powers and duties hereunder of the Trustee.

            In addition, except as otherwise agreed upon in writing by the
Master Servicer and the Trustee, the Trust shall reimburse the Trustee for all
reasonable expenses, disbursements and advances incurred or made by the Trustee
in accordance with any of the provisions of this Agreement to the extent
permitted by Treasury Regulations Section 1.860G-1(b)(3), except for (i) any
such expense, disbursement or advance arising from the Trustee's gross
negligence, bad faith or willful misconduct and (ii) any routine ongoing
expenses incurred by the Trustee in the ordinary course of its duties as Trustee
hereunder or for any other expenses.

            The Trustee and any director, officer, employee or agent of the
Trustee shall be entitled to indemnification by the Trust Estate and held
harmless against any loss, liability or expense (including reasonable attorney's
fees) (a) incurred in connection with any claim or legal action relating to (i)
this Agreement, (ii) the Certificates, or (iii) the performance of any of the
Trustee's duties under this Agreement, unless the loss, liability or expense was
incurred by reason of willful misfeasance, bad faith or gross negligence in the
performance of any of the Trustee's duties under this Agreement and (b)
resulting from any tax or information return which was prepared by, or should
have been prepared by, the applicable Servicer or Master Servicer.

            The obligations of the Trust Estate under this Section 8.06 shall
survive the resignation and removal of the Trustee and payment of the
Certificates.

            Section 8.07 Eligibility Requirements.

            The Trustee hereunder shall at all times (i) be a corporation or
association having its principal office in a state and city acceptable to the
Depositor, organized and doing business under the laws of such state or the
United States of America, authorized under such laws to exercise corporate trust
powers, having a combined capital and surplus of at least $50,000,000, or shall
be a member of a bank holding system, the aggregate combined capital and surplus
of which is at least $50,000,000, provided that its separate capital and surplus
shall at all times be at least the amount specified in Section 310(a)(2) of the
Trust Indenture Act of 1939, (ii) be subject to supervision or examination by
federal or state authority and (iii) have a credit rating or be otherwise
acceptable to the Rating Agencies such that neither of the Rating Agencies would
reduce their respective then current ratings of the Certificates (or have
provided such security from time to time as is sufficient to avoid such
reduction) as evidenced in writing by each Rating Agency. If such corporation or
association publishes reports of condition at least annually, pursuant to law or
to the requirements of the aforesaid supervising or examining authority, then
for the purposes of this Section the combined capital and surplus of such
corporation or association shall be deemed to be its combined capital and
surplus as set forth in its most recent report of condition so published. In
case at any time the Trustee shall cease to be eligible in accordance with the
provisions of this Section, the Trustee shall resign immediately in the manner
and with the effect specified in Section 8.08.

            Section 8.08 Resignation and Removal.

            The Trustee may at any time resign and be discharged from the trust
hereby created by giving written notice of resignation to the Master Servicer,
such resignation to be effective upon the appointment of a successor trustee.
Upon receiving such notice of resignation, the Master Servicer shall promptly
appoint a successor trustee by written instrument, in duplicate, one copy of
which instrument shall be delivered to the resigning entity and one copy to its
successor. If no successor trustee shall have been appointed and have accepted
appointment within 30 days after the giving of such notice of resignation, the
resigning Trustee may petition any court of competent jurisdiction for the
appointment of a successor trustee.

            If at any time the Trustee shall cease to be eligible in accordance
with the provisions of Section 8.07 and shall fail to resign after written
request for its resignation by the Master Servicer, or if at any time the
Trustee shall become incapable of acting, or an order for relief shall have been
entered in any bankruptcy or insolvency proceeding with respect to such entity,
or a receiver of such entity or of its property shall be appointed, or any
public officer shall take charge or control of the Trustee or of the property or
affairs of the Trustee for the purpose of rehabilitation, conversion or
liquidation, or the Master Servicer shall deem it necessary in order to change
the situs of the Trust Estate for state tax reasons, then the Master Servicer
shall remove the Trustee and appoint a successor trustee by written instrument,
in duplicate, one copy of which instrument shall be delivered to the Trustee so
removed and one copy to the successor trustee.

            In addition, if (a) the Trustee fails to comply with its obligations
to deliver any assessment of servicing compliance or registered public
accounting firm attestation reports required pursuant to Section 3.11 or (b) any
Servicing Function Participant engaged by the Trustee fails to comply with its
obligations to deliver any assessment of servicing compliance or registered
public accounting firm attestation reports, the Master Servicer, may, after
consultation with the Depositor, remove the Trustee and appoint a successor
trustee by written instrument, in duplicate, one copy of which instrument shall
be delivered to the Trustee so removed and one copy to the successor trustee.

            The Holders of Certificates evidencing in the aggregate not less
than 51% of the Voting Interests represented by all Certificates (except that
any Certificate registered in the name of the Depositor, the Master Servicer or
any affiliate thereof will not be taken into account in determining whether the
requisite Voting Interests has been obtained) may at any time remove the Trustee
and appoint a successor by written instrument or instruments, in triplicate,
signed by such holders or their attorneys-in-fact duly authorized, one complete
set of which instruments shall be delivered to the Master Servicer, one complete
set of which shall be delivered to the entity or entities so removed and one
complete set of which shall be delivered to the successor so appointed.

            Any resignation or removal of the Trustee and appointment of a
successor pursuant to any of the provisions of this Section shall become
effective upon acceptance of appointment by the successor as provided in Section
8.09.

            Section 8.09 Successor.

            Any successor trustee appointed as provided in Section 8.08 shall
execute, acknowledge and deliver to the Master Servicer and to its predecessor
trustee an instrument accepting such appointment hereunder, and thereupon the
resignation or removal of the predecessor trustee shall become effective, and
such successor, without any further act, deed or reconveyance, shall become
fully vested with all the rights, powers, duties and obligations of its
predecessor hereunder, with like effect as if originally named as trustee
herein. The predecessor trustee shall deliver to its successor all documents and
statements held by it hereunder, and the Depositor, the Master Servicer and the
predecessor entity shall execute and deliver such instruments and do such other
things as may reasonably be required for more fully and certainly vesting and
confirming in the successor trustee all such rights, powers, duties and
obligations.

            If the predecessor trustee has resigned, or has been removed for
cause, all costs associated with the appointment of a successor trustee shall be
paid to the Person that incurred them by the predecessor trustee. Without
limiting the predecessor trustee's obligation, if the predecessor trustee fails
to pay such costs, such costs shall be reimbursed by the Trust; provided
however, that if the predecessor trustee has been terminated without cause
pursuant to Section 8.08, all reasonable expenses incurred in complying with
this Section 8.09 shall be reimbursed by the Trust to the Person that incurred
them.

            No successor shall accept appointment as provided in this Section
unless at the time of such acceptance such successor shall be eligible under the
provisions of Section 8.07.

            Upon acceptance of appointment by a successor as provided in this
Section, the successor trustee shall mail notice of the succession of such
trustee hereunder to all Holders of Certificates at their addresses as shown in
the Certificate Register.

            Section 8.10 Merger or Consolidation.

            Any Person into which the Trustee may be merged or converted or with
which it may be consolidated, to which it may sell or transfer its corporate
trust business and assets as a whole or substantially as a whole or any Person
resulting from any merger, sale, transfer, conversion or consolidation to which
the Trustee shall be a party, or any Person succeeding to the business of such
entity, shall be the successor of the Trustee hereunder; provided, however, that
(i) such Person shall be eligible under the provisions of Section 8.07, 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 and (ii) the
Trustee and such successor or surviving Person shall notify the Depositor and
the Master Servicer of any such merger, conversion or consolidation at least two
Business Days prior to the effective date thereof and shall provide the
Depositor and the Master Servicer with all information required by the Depositor
to comply with its reporting obligations under Item 6.02 of Form 8-K not later
than the effective date of such merger, conversion or consolidation and the
Master Servicer shall report such event on Form 8-K within four business days of
the occurrence of such event.

            Section 8.11 Authenticating Agent.

            The Trustee may appoint an Authenticating Agent, which shall be
authorized to act on behalf of the Trustee in authenticating Certificates.
Wherever reference is made in this Agreement to the authentication of
Certificates by the Trustee or the Trustee's countersignature, such reference
shall be deemed to include authentication on behalf of the Trustee by the
Authenticating Agent and a certificate of authentication executed on behalf of
the Trustee by the Authenticating Agent. The Authenticating Agent must be
acceptable to the Depositor and the Master Servicer and must be a corporation
organized and doing business under the laws of the United States of America or
of any state, having a principal office and place of business in a state and
city acceptable to the Depositor and the Master Servicer, having a combined
capital and surplus of at least $15,000,000, authorized under such laws to do a
trust business and subject to supervision or examination by federal or state
authorities.

            Any corporation into which the Authenticating Agent may be merged or
converted or with which it may be consolidated, or any corporation resulting
from any merger, conversion or consolidation to which the Authenticating Agent
shall be a party, or any corporation succeeding to the corporate agency business
of the Authenticating Agent, shall be the Authenticating Agent without the
execution or filing of any paper or any further act on the part of the Trustee
or the Authenticating Agent.

            The Authenticating Agent may at any time resign by giving at least
30 days' advance written notice of resignation to the Trustee, the Depositor and
the Master Servicer. Except with respect to Wells Fargo Bank, for so long as
Wells Fargo Bank is acting as the Master Servicer, the Trustee may at any time
terminate the agency of the Authenticating Agent by giving written notice
thereof to the Authenticating Agent, the Depositor and the Master Servicer. Upon
receiving a notice of resignation or upon such a termination, or in case at any
time the Authenticating Agent shall cease to be eligible in accordance with the
provisions of this Section 8.11, the Trustee promptly shall appoint a successor
Authenticating Agent, which shall be acceptable to the Master Servicer, and
shall give written notice of such appointment to the Depositor, and shall mail
notice of such appointment to all Certificateholders. Any successor
Authenticating Agent upon acceptance of its appointment hereunder shall become
vested with all the rights, powers, duties and responsibilities of its
predecessor hereunder, with like effect as if originally named as Authenticating
Agent herein. No successor Authenticating Agent shall be appointed unless
eligible under the provisions of this Section 8.11.

            The Authenticating Agent shall have no responsibility or liability
for any action taken by it as such at the direction of the Trustee. Any
reasonable compensation paid to the Authenticating Agent shall be payable by the
Master Servicer.

            Section 8.12 Separate Trustees and Co-Trustees.

            The Trustee shall have the power from time to time to appoint one or
more persons or corporations to act either as co-trustees jointly with the
Trustee, or as separate trustees, for the purpose of holding title to,
foreclosing or otherwise taking action with respect to any Mortgage Loan outside
the state where the Trustee has its principal place of business, where such
separate trustee or co-trustee is necessary or advisable (or the Trustee is
advised by the Master Servicer that such separate trustee or co-trustee is
necessary or advisable) under the laws of any state in which a Mortgaged
Property is located or for the purpose of otherwise conforming to any legal
requirement, restriction or condition in any state in which a Mortgaged Property
is located or in any state in which any portion of the Trust Estate is located.
The Master Servicer shall advise the Trustee when, in its good faith opinion, a
separate trustee or co-trustee is necessary or advisable as aforesaid. The
separate trustees or co-trustees so appointed shall be trustees for the benefit
of all of the Certificateholders and shall have such powers, rights and remedies
as shall be specified in the instrument of appointment; provided, however, that
no such appointment shall, or shall be deemed to, constitute the appointee an
agent of the Trustee. The Depositor and the Master Servicer shall join in any
such appointment, but such joining shall not be necessary for the effectiveness
of such appointment.

            Every separate trustee and co-trustee shall, to the extent permitted
by law, be appointed and act subject to the following provisions and conditions:

            (i) all powers, duties, obligations and rights conferred upon the
      Trustee, in respect of the receipt, custody and payment of moneys shall be
      exercised solely by the Trustee;

            (ii) all other rights, powers, duties and obligations conferred or
      imposed upon the Trustee shall be conferred or imposed upon and exercised
      or performed by the Trustee and such separate trustee or co-trustee
      jointly, except to the extent that under any law of any jurisdiction in
      which any particular act or acts are to be performed (whether as Trustee
      hereunder or as successor to the Master Servicer hereunder) the Trustee
      shall be incompetent or unqualified to perform such act or acts, in which
      event such rights, powers, duties and obligations (including the holding
      of title to the Trust Estate or any portion thereof in any such
      jurisdiction) shall be exercised and performed by such separate trustee or
      co-trustee;

            (iii) no separate trustee or co-trustee hereunder shall be
      personally liable by reason of any act or omission of any other separate
      trustee or co-trustee hereunder; and

            (iv) the Trustee may at any time accept the resignation of or remove
      any separate trustee or co-trustee so appointed by it, if such resignation
      or removal does not violate the other terms of this Agreement.

            Any notice, request or other writing given to the Trustee shall be
deemed to have been given to each of the then separate trustees and co-trustees,
as effectively as if given to each of them. Every instrument appointing any
separate trustee, co-trustee, or custodian shall refer to this Agreement and the
conditions of this Article. Each separate trustee and co-trustee, upon its
acceptance of the trusts conferred, shall be vested with the estates or property
specified in its instrument of appointment, either jointly with the Trustee, or
separately, as may be provided therein, subject to all the provisions of this
Agreement, specifically including every provision of this Agreement relating to
the conduct of, affecting the liability of, or affording protection to, the
Trustee. Every such instrument shall be furnished to the Trustee.

            Any separate trustee, co-trustee, or custodian may, at any time,
constitute the Trustee, its agent or attorney-in-fact, with full power and
authority, to the extent not prohibited by law, to do any lawful act under or in
respect of this Agreement on its behalf and in its name. If any separate trustee
or co-trustee shall die, become incapable of acting, resign or be removed, all
of its estates, properties, rights, remedies and trusts shall vest in and be
exercised by the Trustee to the extent permitted by law, without the appointment
of a new or successor trustee.

            No separate trustee or co-trustee hereunder shall be required to
meet the terms of eligibility as a successor trustee under Section 8.07
hereunder and no notice to Certificateholders of the appointment thereof shall
be required under Section 8.09 hereof.

            The Trustee agrees to instruct its co-trustees, if any, to the
extent necessary to fulfill such entity's obligations hereunder.

            The fees of any co-trustee whose appointment is necessary or
advisable for (i) conforming to any legal requirement, restriction or condition
in any state in which any Mortgaged Property or any portion of the Trust Estate
is located, will be paid by the Master Servicer, without reimbursement from the
Trust and (ii) any reason other than contemplated by clause (i), will be paid by
the Trustee, without reimbursement from the Trust. Expenses will be reimbursable
to the co-trustees to the extent, and in accordance with the standards,
specified in Section 8.06 hereof.

            Section 8.13 Tax Matters; Compliance with REMIC Provisions.

            (a) Each of the Trustee and the Master Servicer covenants and agrees
that it shall perform its duties hereunder in a manner consistent with the REMIC
Provisions and shall not knowingly take any action or fail to take any other
action that would (i) affect the determination of the Trust Estate's status as a
REMIC; or (ii) cause the imposition of any federal, state or local income,
prohibited transaction, contribution or other tax on either the REMIC or the
Trust Estate. The Master Servicer, or, in the case of any tax return or other
action required by law to be performed directly by the Trustee, the Trustee,
shall (i) prepare or cause to be prepared, timely cause to be signed by the
Trustee and file or cause to be filed annual federal and applicable state and
local income tax returns for the REMIC using a calendar year as the taxable year
and the accrual method of accounting; (ii) in the first such federal tax return,
make, or cause to be made, an election satisfying the requirements of the REMIC
Provisions, on behalf of the Trust Estate, to treat the Trust Estate as a REMIC;
(iii) prepare, execute and forward, or cause to be prepared, executed and
forwarded, to the Certificateholders all information reports or tax returns
required with respect to the Trust Estate, as and when required to be provided
to the Certificateholders, and to the Internal Revenue Service and any other
relevant governmental taxing authority in accordance with the REMIC Provisions
and any other applicable federal, state or local laws, including without
limitation information reports relating to "original issue discount" and "market
discount" as defined in the Code based upon the issue prices, prepayment
assumption and cash flows provided by the Depositor to the Master Servicer and
calculated on a monthly basis by using the issue prices of the Certificates;
(iv) make available information necessary for the application of any tax imposed
on transferors of residual interests to "disqualified organizations" (as defined
in the REMIC Provisions); (v) file Form 8811 and apply for an Employee
Identification Number with a Form SS-4 or any other permissible method and
respond to inquiries by Certificateholders or their nominees concerning
information returns, reports or tax returns; (vi) maintain (or cause to be
maintained by the Servicers) such records relating to the REMIC, including but
not limited to the income, expenses, individual Mortgage Loans (including REO
Mortgage Loans), other assets and liabilities of the REMIC, and the fair market
value and adjusted basis of the property of the REMIC determined at such
intervals as may be required by the Code, as may be necessary to prepare the
foregoing returns or information reports; (vii) exercise reasonable care not to
allow the creation of any "interests" in the REMIC within the meaning of Code
Section 860D(a)(2) other than the interests represented by the Class A-1, Class
A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class
A-9, Class A-10, Class A-11, Class A-12, Class A-13, Class A-14, Class A-15,
Class A-16, Class A-17, Class A-18, Class A-19, Class A-20, Class A-21, Class
A-22, Class A-23, Class A-24, Class A-25, Class A-26, Class A-27, Class A-28,
Class A-29, Class A-30, Class A-31, Class A-32, Class A-33, Class A-34, Class
A-35, Class A-36, Class A-37, Class A-38, Class A-39, Class A-40, Class A-41,
Class A-42, Class A-43, Class A-44, Class A-45, Class A-46, Class A-47, Class
A-48, Class A-49, Class A-PO, Class B-1, Class B-2, Class B-3, Class B-4, Class
B-5 and Class B-6 Certificates and the Class A-R Certificate; (viii) exercise
reasonable care not to allow the occurrence of any "prohibited transactions"
within the meaning of Code Section 860F(a), unless the Master Servicer shall
have provided an Opinion of Counsel to the Trustee that such occurrence would
not (a) result in a taxable gain, (b) otherwise subject either the REMIC or the
Trust Estate to tax or (c) cause the Trust Estate to fail to qualify as a REMIC;
(ix) exercise reasonable care not to allow the REMIC to receive income from the
performance of services or from assets not permitted under the REMIC Provisions
to be held by a REMIC; and (x) pay (on behalf of the REMIC) the amount of any
federal income tax, including, without limitation, prohibited transaction taxes,
taxes on net income from foreclosure property, and taxes on certain
contributions to a REMIC after the Startup Day, imposed on the REMIC when and as
the same shall be due and payable (but such obligation shall not prevent the
Master Servicer or any other appropriate Person from contesting any such tax in
appropriate proceedings and shall not prevent the Master Servicer from
withholding or depositing payment of such tax, if permitted by law, pending the
outcome of such proceedings). The Master Servicer shall be entitled to be
reimbursed pursuant to Section 3.02 for any taxes paid by it pursuant to clause
(x) of the preceding sentence, except to the extent that such taxes are imposed
as a result of the bad faith, willful misfeasance or gross negligence of the
Master Servicer in the performance of its obligations hereunder.

            In order to enable the Master Servicer or the Trustee, as the case
may be, to perform its duties as set forth above, the Depositor shall provide,
or cause to be provided, to the Master Servicer within ten days after the
Closing Date all information or data that the Master Servicer determines to be
relevant for tax purposes to the valuations and offering prices of the
Certificates, including, without limitation, the price, yield, prepayment
assumption and projected cash flows of each Class of Certificates and the
Mortgage Loans in the aggregate. Thereafter, the Depositor shall provide to the
Master Servicer or the Trustee, as the case may be, promptly upon request
therefor, any such additional information or data that the Master Servicer or
the Trustee, as the case may be, may from time to time request in order to
enable the Master Servicer to perform its duties as set forth above. The
Depositor hereby indemnifies the Master Servicer or the Trustee, as the case may
be, for any losses, liabilities, damages, claims or expenses of the Master
Servicer or the Trustee arising from any errors or miscalculations by the Master
Servicer or the Trustee pursuant to this Section that result from any failure of
the Depositor to provide, or to cause to be provided, accurate information or
data to the Master Servicer or the Trustee, as the case may be, on a timely
basis. The Master Servicer hereby indemnifies the Depositor and the Trustee for
any losses, liabilities, damages, claims or expenses of the Depositor or the
Trustee arising from the Master Servicer's willful misfeasance, bad faith or
gross negligence in preparing any of the federal, state and local tax returns of
the REMIC as described above. In the event that the Trustee prepares any of the
federal, state and local tax returns of the REMIC as described above, the
Trustee hereby indemnifies the Depositor and the Master Servicer for any losses,
liabilities, damages, claims or expenses of the Depositor or the Master Servicer
arising from the Trustee's willful misfeasance, bad faith or negligence in
connection with such preparation.

            (b) Notwithstanding anything in this Agreement to the contrary, each
of the Master Servicer and the Trustee shall pay from its own funds, without any
right of reimbursement therefor, the amount of any costs, liabilities and
expenses incurred by the Trust Estate (including, without limitation, any and
all federal, state or local taxes, including taxes imposed on "prohibited
transactions" within the meaning of the REMIC Provisions) if and to the extent
that such costs, liabilities and expenses arise from a failure of the Master
Servicer or the Trustee, respectively, to perform its obligations under this
Section 8.13.

            The Holder of the Residual Certificate is hereby designated as the
"tax matters person" for the REMIC within the meaning of Treasury Regulations
Section 1.860F-4(d). The "tax matters person" shall have the same duties with
respect to the REMIC as those of a "tax matters partner" under Subchapter C of
Chapter 63 of Subtitle F of the Code. By its acceptance of the Residual
Certificate, such Holder irrevocably appoints the Master Servicer (and the
Master Servicer hereby agrees to act) as agent to perform all of the duties of
the "tax matters person."

            Section 8.14 Monthly Advances.

            In the event that Wells Fargo Bank in its capacity as Servicer fails
to make a Periodic Advance required to be made pursuant to the Wells Fargo Bank
Servicing Agreement on or before the Distribution Date, the Trustee shall make a
Periodic Advance as required by Section 3.03 hereof; provided, however, the
Trustee shall not be required to make such Periodic Advances if prohibited by
law or if it determines that such Periodic Advance would be a Nonrecoverable
Advance. With respect to those Periodic Advances which should have been made by
Wells Fargo Bank, the Trustee shall be entitled, pursuant to Section 3.02(a)(i),
(ii) or (v) hereof, to be reimbursed from the Certificate Account for Periodic
Advances and Nonrecoverable Advances made by it.

            Section 8.15 Indemnification of the Master Servicer and Depositor by
the Trustee.

            The Trustee shall indemnify and hold harmless the Master Servicer
and the Depositor and any director, officer or agent thereof against any loss,
liability or expense, including reasonable attorney's fees, arising out of, in
connection with or incurred by reason of willful misfeasance, bad faith or
negligence in the performance of duties of the Trustee or by reason of reckless
disregard of its obligation to deliver any information, report, certification,
accountants' letter or other material required to comply with Regulation AB. Any
payment pursuant to this Section made by the Trustee to the Master Servicer or
the Depositor shall be from such entity's own funds, without reimbursement
therefor. The provisions of this Section 8.15 shall survive the termination of
this Agreement.

            Notwithstanding anything in this Agreement to the contrary, in no
event shall the Trustee be liable for any special, indirect or consequential
loss or damage of any kind whatsoever (including but not limited to lost
profits) resulting from the Trustee's nonperformance of its duties or
obligations to deliver any information, report, certification, accountants'
letter or other material required to comply with Regulation AB, even if the
Trustee has been advised of the likelihood of such loss or damage and regardless
of the form of action.

            Section 8.16 Trustee Errors and Omissions Policy.

            The Trustee shall maintain, at all times and at its own expense, a
Trustee Errors and Omissions Policy, which policy shall have such terms and
coverage amounts as are comparable to those of errors and omissions policies
maintained by trustees generally.

            The Trustee Errors and Omissions Policy shall insure the Trustee,
its successors and assigns, against any losses resulting from negligence, errors
or omissions on the part of officers, employees or other persons acting on
behalf of the Trustee in the performance of its duties as Trustee pursuant to
this Agreement.

            The Trustee shall maintain in effect the Trustee Errors and
Omissions Policy at all times and the Trustee Errors and Omissions Policy may
not be canceled, permitted to lapse or otherwise terminated without thirty
Business Days' prior written notice by registered mail to the Master Servicer
and the Depositor.

                                   ARTICLE IX

                                   TERMINATION

            Section 9.01 Termination upon Purchase by the Depositor or
Liquidation of All Mortgage Loans.

            Subject to Section 9.02, the respective obligations and
responsibilities of the parties to this Agreement created hereby (other than the
obligation of the Paying Agent to make certain payments after the Final
Distribution Date to Certificateholders and the obligation of the Master
Servicer to send certain notices as hereinafter set forth and the tax reporting
obligations under Sections 4.05 and 8.13 hereof) shall terminate upon the last
action required to be taken by the Paying Agent on the Final Distribution Date
pursuant to this Article IX following the earlier of (i) the purchase by the
Depositor of all Mortgage Loans and all property acquired in respect of any
Mortgage Loan remaining in the Trust Estate at a price equal to the sum of (x)
100% of the unpaid principal balance of each Mortgage Loan (other than any REO
Mortgage Loan) as of the Final Distribution Date, (y) the fair market value of
the Mortgaged Property related to any REO Mortgage Loan, plus with respect to
clauses (x) and (y) any accrued and unpaid interest through the last day of the
month preceding the month of such purchase at the applicable Mortgage Interest
Rate less any Fixed Retained Yield on each Mortgage Loan (including any REO
Mortgage Loan) and (z) any Reimbursement Amount owed to the Trust pursuant to
Section 2.03 and (ii) the final payment or other liquidation (or any advance
with respect thereto) of the last Mortgage Loan remaining in the Trust Estate
(including for this purpose the discharge of any Mortgagor under a defaulted
Mortgage Loan on which a Servicer is not obligated to foreclose due to
environmental impairment) or the disposition of all property acquired upon
foreclosure or deed in lieu of foreclosure of any Mortgage Loan; provided,
however, that in no event shall the trust created hereby continue beyond the
expiration of 21 years from the death of the last survivor of the descendants of
Joseph P. Kennedy, the late ambassador of the United States to the Court of St.
James, living on the date hereof.

            The right of the Depositor to purchase all the assets of the Trust
Estate pursuant to clause (i) of the preceding paragraph is subject to Section
9.02 and conditioned upon (A) the Pool Scheduled Principal Balance of the
Mortgage Loans as of the Final Distribution Date being less than the amount set
forth in Section 11.21 and (B) the sum of clause (i)(x) and (y) of the preceding
paragraph being less than or equal to the aggregate fair market value of the
Mortgage Loans (other than any REO Mortgage Loans) and the Mortgaged Properties
related to the REO Mortgage Loans; provided, however, that this clause (B) shall
not apply to any purchase by the Depositor if, at the time of the purchase, the
Depositor is no longer subject to regulation by the Office of the Comptroller of
the Currency, the FDIC, the Federal Reserve or the Office of Thrift Supervision.
Fair market value for purposes of this paragraph and the preceding paragraph
will be determined by the Master Servicer as of the close of business on the
third Business Day next preceding the date upon which notice of any termination
is furnished to Certificateholders pursuant to the third paragraph of this
Section 9.01. In the case of any purchase by the Depositor pursuant to said
clause (i) of the preceding paragraph, the Depositor shall give the Trustee, the
Paying Agent and Master Servicer notice of its intent to purchase the assets of
the Trust by the fifth day of the month of the Final Distribution Date or such
later date as shall be acceptable to the Trustee and Master Servicer. The
Depositor or Master Servicer shall in such case provide to the Trustee the
confirmation of deposit of the purchase price required by Section 3.04 and the
Trustee or the Custodian shall, promptly following payment of the purchase price
and upon receipt from the Master Servicer of a Request for Release, release to
the Depositor the Owner Mortgage Loan Files and Retained Mortgage Loan Files, if
applicable, pertaining to the Mortgage Loans being purchased.

            Notice of any termination, specifying the Final Distribution Date
(which shall be a date that would otherwise be a Distribution Date) upon which
the Certificateholders may surrender their Certificates to the Paying Agent for
payment of the final distribution and cancellation, shall be given promptly by
the Paying Agent by letter to Certificateholders and the Trustee mailed not
earlier than the 15th day of the month preceding the month of such final
distribution and not later than the twentieth day of the month of such final
distribution specifying (A) the Final Distribution Date upon which final payment
of the Certificates will be made upon presentation and surrender of Certificates
at the Corporate Trust Office of the Paying Agent therein designated, (B) the
amount of any such final payment and (C) that the Record Date otherwise
applicable to such Distribution Date is not applicable, payments being made
(except in the case of any Class A Certificate surrendered on a prior
Distribution Date) pursuant to Section 4.01 only upon presentation and surrender
of the Certificates at the Corporate Trust Office of the Paying Agent therein
specified. If the Depositor is exercising its right to purchase, the Depositor
shall deposit in the Certificate Account on or before the Final Distribution
Date in immediately available funds an amount equal to the purchase price for
the assets of the Trust Estate computed as above provided. Failure to give
notice of termination as described herein shall not entitle a Certificateholder
to any interest beyond the interest payable on the Final Distribution Date.

            Upon presentation and surrender of the Certificates, the Paying
Agent shall distribute to Certificateholders on the Final Distribution Date in
proportion to their respective Percentage Interests an amount equal to (i) as to
the Classes of Class A Certificates (other than Classes of Exchangeable
Certificates), the respective Principal Balance together with any related Class
A Unpaid Interest Shortfall and one month's interest in an amount equal to the
respective Interest Accrual Amount, (ii) as to the Classes of Class B
Certificates, the respective Principal Balance together with any related Class B
Unpaid Interest Shortfall and one month's interest in an amount equal to the
respective Interest Accrual Amount and (iii) as to the Class A-R Certificate,
the amounts, if any, which remain on deposit in the Certificate Account (other
than amounts retained to meet claims) after application pursuant to clauses (i)
and (ii) above and payment to the Master Servicer of any amounts it is entitled
as reimbursement or otherwise hereunder. Outstanding Exchangeable Certificates
shall be entitled to receive their proportionate share of distributions
allocated to their Related Exchangeable REMIC Certificates as set forth in
Section 4.01(g). Notwithstanding the foregoing, if the price paid pursuant to
clause (i) of the first paragraph of this Section 9.01, after reimbursement to
the Servicers, the Master Servicer and the Trustee of any Periodic Advances, is
insufficient to pay in full the amounts set forth in clauses (i) and (ii) of
this paragraph, then any shortfall in the amount available for distribution to
Certificateholders shall be allocated in reduction of the amounts otherwise
distributable on the Final Distribution Date in the same manner as Realized
Losses are allocated pursuant to Section 4.02(a) hereof. Such distribution on
the Final Distribution Date shall be in lieu of the distribution otherwise
required to be made on such Distribution Date in respect of each Class of
Certificates.

            In the event that all of the Certificateholders shall not surrender
their Certificates for final payment and cancellation within three months
following the Final Distribution Date, the Paying Agent shall on such date cause
all funds, if any, in the Payment Account not distributed in final distribution
to Certificateholders to be withdrawn therefrom and credited to the remaining
Certificateholders by depositing such funds in a separate escrow account for the
benefit of such Certificateholders. The Paying Agent shall give a second written
notice to the remaining Certificateholders to surrender their Certificates for
cancellation and receive the final distribution with respect thereto. If within
three months after the second notice all the Certificates shall not have been
surrendered for cancellation, the Paying Agent may take appropriate steps, or
may appoint an agent to take appropriate steps, to contact the remaining
Certificateholders concerning surrender of their Certificates, and the cost
thereof shall be paid out of the funds on deposit in such escrow account.

            Section 9.02 Additional Termination Requirements.

            In the event of a termination of the Trust Estate upon the exercise
by the Depositor of its purchase option as provided in Section 9.01, the Trust
Estate shall be terminated in accordance with the following additional
requirements, unless the Trustee and the Master Servicer have received an
Opinion of Counsel to the effect that any other manner of termination (i) will
constitute a "qualified liquidation" of the Trust Estate within the meaning of
Code Section 860F(a)(4)(A) and (ii) will not subject the REMIC to federal tax or
cause the Trust Estate to fail to qualify as a REMIC at any time that any
Certificates are outstanding:

            (i) The notice given by the Paying Agent under Section 9.01 shall
      provide that such notice constitutes the adoption of a plan of complete
      liquidation of the REMIC as of the date of such notice (or, if earlier,
      the date on which the first such notice is mailed to Certificateholders).
      The Master Servicer shall also specify such date in a statement attached
      to the final tax return of the REMIC; and

            (ii) At or after the time of adoption of such a plan of complete
      liquidation and at or prior to the Final Distribution Date, the Trustee,
      shall sell all of the assets of the Trust Estate to the Depositor for cash
      at the purchase price specified in Section 9.01 and the Paying Agent shall
      distribute such cash within 90 days of such adoption in the manner
      specified in Section 9.01.

<PAGE>

                                   ARTICLE X

                            MISCELLANEOUS PROVISIONS

            Section 10.01 Amendment.

            (a) This Agreement or the Custodial Agreement may be amended from
time to time by the Depositor, the Master Servicer and the Trustee without the
consent of any of the Certificateholders, (i) to cure any ambiguity or mistake,
(ii) to correct or supplement any provisions herein or therein which may be
inconsistent with any other provisions herein or therein or in the related
Prospectus, (iii) to modify, eliminate or add to any of its provisions to such
extent as shall be necessary to maintain the qualification of the Trust Estate
as a REMIC at all times that any Certificates are outstanding or to avoid or
minimize the risk of the imposition of any federal tax on the Trust Estate or
the REMIC pursuant to the Code that would be a claim against the Trust Estate,
provided that (a) the Trustee has received an Opinion of Counsel to the effect
that such action is necessary or desirable to maintain such qualification or to
avoid or minimize the risk of the imposition of any such tax and (b) such action
shall not, as evidenced by such Opinion of Counsel, adversely affect in any
material respect the interests of any Certificateholder, (iv) to conform the
obligations of the parties under this Agreement, or to add obligations of the
parties to this Agreement, if necessary, to comply with the requirements of
Regulation AB, (v) to change the timing and/or nature of deposits into the
Certificate Account provided that such change shall not, as evidenced by an
Opinion of Counsel, adversely affect in any material respect the interests of
any Certificateholder, (vi) to modify, eliminate or add to the provisions of
Section 5.02 or any other provisions hereof restricting transfer of the
Certificates, provided that the Depositor for purposes of Section 5.02 has
determined in its sole discretion that any such modifications to this Agreement
will neither adversely affect the rating on the Certificates nor give rise to a
risk that the REMIC or any of the Certificateholders will be subject to a tax
caused by a transfer to a non-permitted transferee, (vii) to make certain
provisions with respect to the denominations of, and the manner of payments on,
certain Classes of Certificates initially retained by the Depositor or an
affiliate of the Depositor and (viii) to make any other provisions with respect
to matters or questions arising under this Agreement or such Custodial Agreement
which shall not be materially inconsistent with the provisions of this
Agreement, provided that such action shall not, as evidenced by an Opinion of
Counsel, adversely affect in any material respect the interests of any
Certificateholder. Notwithstanding the foregoing, any amendment pursuant to
clause (v) or (viii) shall not be deemed to adversely affect in any material
respect the interest of Certificateholders and no Opinion of Counsel to that
effect shall be required if the person requesting the amendment instead obtains
a letter from each Rating Agency stating that the amendment would not result in
the downgrading or withdrawal of the respective ratings then assigned to the
Certificates.

            This Agreement or the Custodial Agreement may also be amended from
time to time by the Depositor, the Master Servicer and the Trustee with the
consent of the Holders of Certificates evidencing in the aggregate not less than
66-2/3% of the aggregate Voting Interests of each Class of Certificates affected
thereby, for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of this Agreement or such Custodial
Agreement or of modifying in any manner the rights of the Holders of
Certificates of such Class; provided, however, that no such amendment shall (i)
reduce in any manner the amount of, or delay the timing of, payments received on
Mortgage Loans which are required to be distributed on any Certificate without
the consent of the Holder of such Certificate, (ii) adversely affect in any
material respect the interest of the Holders of Certificates of any Class in a
manner other than as described in clause (i) hereof without the consent of
Holders of Certificates of such Class evidencing, as to such Class, Voting
Interests aggregating not less than 66-2/3% or (iii) reduce the aforesaid
percentage of Certificates of any Class the Holders of which are required to
consent to any such amendment, without the consent of the Holders of all
Certificates of such Class then outstanding.

            Notwithstanding any contrary provision of this Agreement, the
Trustee shall not consent to any amendment to this Agreement unless it shall
have first received an Opinion of Counsel to the effect that such amendment will
not subject the REMIC to tax or cause the Trust Estate to fail to qualify as a
REMIC at any time that any Certificates are outstanding.

            Promptly after the execution of any amendment requiring the consent
of Certificateholders, the Trustee shall furnish written notification of the
substance of such amendment to each Certificateholder.

            It shall not be necessary for the consent of Certificateholders
under this Section 10.01(a) to approve the particular form of any proposed
amendment, but it shall be sufficient if such consent shall approve the
substance thereof. The manner of obtaining such consents and of evidencing the
authorization of the execution thereof by Certificateholders shall be subject to
such reasonable regulations as the Trustee may prescribe.

            The Trustee shall give prompt written notice to the Custodian of any
amendment or supplement to this Agreement and furnish the Custodian with written
copies thereof.

            (b) Notwithstanding any contrary provision of this Agreement, if any
of the Mortgage Loans are Type 2 Mortgage Loans, as indicated on the Mortgage
Loan Schedule, the Master Servicer may, from time to time, amend Schedule I
hereto without the consent of any Certificateholder or the Trustee; provided,
however, (i) that such amendment does not conflict with any provisions of the
related Servicing Agreement, (ii) that the related Servicing Agreement provides
for the remittance of each type of Unscheduled Principal Receipts received by
such Servicer during the Applicable Unscheduled Principal Receipt Period (as so
amended) related to each Distribution Date to the Master Servicer no later than
the 24th day of the month in which such Distribution Date occurs and (iii) that
such amendment is for the purpose of changing the Applicable Unscheduled
Principal Receipt Period for Type 2 Mortgage Loans to a Mid-Month Receipt Period
with respect to all Unscheduled Principal Receipts.

            Section 10.02 Recordation of Agreement.

            This Agreement (or an abstract hereof, if acceptable to the
applicable recording office) is subject to recordation in all appropriate public
offices for real property records in all the towns or other comparable
jurisdictions in which any or all of the Mortgaged Properties are situated, and
in any other appropriate public office or elsewhere, such recordation to be
effected by the Master Servicer and at its expense on direction by the Trustee,
but only upon direction accompanied by an Opinion of Counsel to the effect that
such recordation materially and beneficially affects the interests of the
Certificateholders.

            For the purpose of facilitating the recordation of this Agreement as
herein provided and for other purposes, this Agreement may be executed
simultaneously in any number of counterparts, each of which counterparts shall
be deemed to be an original, and such counterparts shall constitute but one and
the same instrument.

            Section 10.03 Limitation on Rights of Certificateholders.

            The death or incapacity of any Certificateholder shall not operate
to terminate this Agreement or the Trust Estate, nor entitle such
Certificateholder's legal representatives or heirs to claim an accounting or
take any action or proceeding in any court for a partition or winding up of the
Trust Estate, nor otherwise affect the rights, obligations and liabilities of
the parties hereto or any of them.

            Except as otherwise expressly provided herein, no Certificateholder,
solely by virtue of its status as a Certificateholder, shall have any right to
vote or in any manner otherwise control the operation and management of the
Trust Estate, or the obligations of the parties hereto, nor shall anything
herein set forth, or contained in the terms of the Certificates, be construed so
as to constitute the Certificateholders from time to time as partners or members
of an association, nor shall any Certificateholder be under any liability to any
third person by reason of any action taken by the parties to this Agreement
pursuant to any provision hereof.

            No Certificateholder, solely by virtue of its status as
Certificateholder, shall have any right by virtue or by availing of any
provision of this Agreement to institute any suit, action or proceeding in
equity or at law upon or under or with respect to this Agreement, unless such
Holder previously shall have given to the Trustee a written notice of default
and of the continuance thereof, as hereinbefore provided, and unless the Holders
of Certificates evidencing not less than 25% of the Voting Interest represented
by all Certificates shall have made written request upon the Trustee to
institute such action, suit or proceeding in its own name as Trustee hereunder
and shall have offered to the Trustee such reasonable indemnity as it may
require against the cost, expenses and liabilities to be incurred therein or
thereby, and the Trustee, for 60 days after its receipt of such notice, request
and offer of indemnity, shall have neglected or refused to institute any such
action, suit or proceeding; it being understood and intended, and being
expressly covenanted by each Certificateholder with every other
Certificateholder and the Trustee, that no one or more Holders of Certificates
shall have any right in any manner whatever by virtue or by availing of any
provision of this Agreement to affect, disturb or prejudice the rights of the
Holders of any other of such Certificates, or to obtain or seek to obtain
priority over or preference to any other such Holder, or to enforce any right
under this Agreement, except in the manner herein provided and for the benefit
of all Certificateholders. For the protection and enforcement of the provisions
of this Section, each and every Certificateholder and the Trustee shall be
entitled to such relief as can be given either at law or in equity.

            Section 10.04 Governing Law; Jurisdiction.

            This Agreement shall be construed in accordance with the laws of the
State of New York (without regard to conflicts of laws principles), and the
obligations, rights and remedies of the parties hereunder shall be determined in
accordance with such laws.

            Section 10.05 Notices.

            Unless otherwise provided in this Agreement, all demands, notices
and communications hereunder shall be in writing and shall be deemed to have
been duly given if personally delivered at or mailed by certified or registered
mail, return receipt requested or by facsimile (i) in the case of the Depositor,
to Wells Fargo Asset Securities Corporation, 7430 New Technology Way, Frederick,
Maryland 21703, Attention: Vice President, Structured Finance or such other
address as may hereafter be furnished to the Master Servicer and the Trustee in
writing by the Depositor, (ii) in the case of the Master Servicer, to Wells
Fargo Bank, N.A., 9062 Old Annapolis Road, Columbia, Maryland 21045-1951,
Attention: Corporate Trust Services-WFMBS 2007-7; facsimile: (410) 715-2380 or
such other address as may hereafter be furnished to the Depositor and the
Trustee in writing by the Master Servicer and (iii) in the case of the Trustee
or the Paying Agent, to the Corporate Trust Office, or such other address as may
hereafter be furnished to the Depositor and the Master Servicer in writing by
the Trustee or the Paying Agent. Any notice required or permitted to be mailed
to a Certificateholder shall be given by first class mail, postage prepaid, at
the address of such Holder as shown in the Certificate Register. Any notice
mailed or transmitted within the time prescribed in this Agreement shall be
conclusively presumed to have been duly given, whether or not the addressee
receives such notice; provided, however, that any demand, notice or
communication to or upon the Depositor, the Master Servicer or the Trustee shall
not be effective until received.

            For all purposes of this Agreement, in the absence of actual
knowledge by an officer of the Master Servicer, the Master Servicer shall not be
deemed to have knowledge of any act or failure to act of any Servicer unless
notified thereof in writing by the Trustee, the applicable Servicer or a
Certificateholder.

            Section 10.06 Severability of Provisions.

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

            Section 10.07 Special Notices to Rating Agencies.

            (a) The Trustee shall give prompt notice to each Rating Agency of
the occurrence of any of the following events of which a Responsible Officer has
notice:

            (i) any amendment to this Agreement pursuant to Section 10.01(a);

            (ii) any assignment by the Master Servicer of its rights and
      delegation of its duties pursuant to Section 6.06;

            (iii) any resignation of the Master Servicer pursuant to Section
      6.04;

            (iv) the occurrence of any of the Events of Default described in
      Section 7.01;

            (v) any notice of termination given to the Master Servicer pursuant
      to Section 7.01; or

            (vi) the appointment of any successor to the Master Servicer
      pursuant to Section 7.05.

            (b) The Paying Agent shall give prompt notice to each Rating Agency
of any sale or transfer of the Class B Certificates pursuant to Section 5.02 to
an affiliate of the Depositor.

            (c) The Paying Agent shall give prompt notice to each Rating Agency
of the making of a final payment pursuant to Section 9.01.

            (d) The Master Servicer shall give prompt notice to each Rating
Agency of the occurrence of any of the following events:

            (i) the resignation of the Custodian or the appointment of a
      successor Custodian pursuant to the Custodial Agreement;

            (ii) the resignation or removal of the Trustee pursuant to Section
      8.08;

            (iii) the appointment of a successor trustee pursuant to Section
      8.09; or

            (iv) the sale, transfer or other disposition in a single transaction
      of 50% or more of the equity interests in the Master Servicer.

            (e) The Master Servicer shall deliver to each Rating Agency or
otherwise make available to each Rating Agency in a format acceptable to each
Rating Agency:

            (i) reports prepared pursuant to Section 3.05 and 3.11; and

            (ii) the Distribution Date Statements.

            Section 10.08 Covenant of Depositor.

            The Depositor shall not amend Article Third of its Certificate of
Incorporation without the prior written consent of each Rating Agency rating the
Certificates.

            Section 10.09 Recharacterization.

            The Parties intend the conveyance by the Depositor to the Trustee of
all of its right, title and interest in and to the Trust Estate pursuant to this
Agreement to constitute a purchase and sale and not a loan. Notwithstanding the
foregoing, to the extent that such conveyance is held not to constitute a sale
under applicable law, it is intended that this Agreement shall constitute a
security agreement under applicable law and that the Depositor shall be deemed
to have granted to the Trustee a first priority security interest in all of the
Depositor's right, title and interest in and to the Trust Estate. The Master
Servicer shall take all actions, including, without limitation, filing any
Uniform Commercial Code continuation statements, as shall be necessary to
perfect or maintain the perfection of such security interest.

            Section 10.10 Regulation AB Compliance; Intent of Parties;
Reasonableness. The parties hereto acknowledge that interpretations of the
requirements of Regulation AB may change over time, whether due to interpretive
guidance provided by the Commission or its staff, consensus among participants
in the asset-backed securities markets, advice of counsel, or otherwise, and
agree to comply with requests made by the Depositor or the Master Servicer in
good faith for delivery of information under these provisions on the basis of
evolving interpretations of Regulation AB. In connection with the Trust, the
parties hereto shall cooperate fully with the Master Servicer and the Depositor
to deliver to the Master Servicer and/or the Depositor, any and all statements,
reports, certifications, records and any other information available to such
party and reasonably necessary in the good faith determination of the Depositor
or the Master Servicer to permit the Depositor or the Master Servicer to comply
with the provisions of Regulation AB, together with such disclosures reasonably
believed by the Depositor or the Master Servicer to be necessary in order to
effect such compliance.

                                   ARTICLE XI

                             TERMS FOR CERTIFICATES

            Section 11.01 Cut-Off Date.

            The Cut-Off Date for the Certificates is May 1, 2007.

            Section 11.02 Cut-Off Date Aggregate Principal Balance.

            The Cut-Off Date Aggregate Principal Balance is $5,100,122,415.12.

            Section 11.03 Original Class A Percentage.

            The Original Class A Percentage is 96.22397291%.

            Section 11.04 Original Notional Amount.

            The Original Notional Amount of the Class A-51 Certificates is
$90,791,514.00.

            Section 11.05 Original Principal Balances of the Classes of Class A
Certificates.

            As to the following Classes of Class A Certificates (other than the
Classes of Exchangeable Certificates), the Principal Balance of such Class as of
the Cut-Off Date and as to the Classes of Exchangeable Certificates, the Maximum
Initial Principal Balance of such Class as of the Cut-Off Date, as follows:

                                           Original
                         Class        Principal Balance
                         ----------   -----------------
                         Class A-1    $2,130,000,000.00
                         Class A-2       $50,000,000.00
                         Class A-3    $1,004,577,000.00
                         Class A-4       $40,000,000.00
                         Class A-5       $89,088,000.00
                         Class A-6       $40,834,000.00
                         Class A-7       $40,813,000.00
                         Class A-8       $50,000,000.00
                         Class A-9       $15,131,919.00
                         Class A-10       $8,556,000.00
                         Class A-11         $476,000.00
                         Class A-12         $476,000.00
                         Class A-13         $476,000.00
                         Class A-14         $476,000.00
                         Class A-15         $476,000.00
                         Class A-16         $476,000.00
                         Class A-17         $476,000.00
                         Class A-18         $476,000.00
                         Class A-19         $476,000.00
                         Class A-20         $476,000.00
                         Class A-21         $476,000.00
                         Class A-22         $476,000.00
                         Class A-23         $476,000.00
                         Class A-24         $476,000.00
                         Class A-25         $476,000.00
                         Class A-26         $476,000.00
                         Class A-27         $476,000.00
                         Class A-28         $476,000.00
                         Class A-29         $476,000.00
                         Class A-30         $476,000.00
                         Class A-31         $480,000.00
                         Class A-32       $5,000,000.00
                         Class A-33       $5,000,000.00
                         Class A-34      $78,423,000.00
                         Class A-35       $6,000,000.00
                         Class A-36      $55,051,810.00
                         Class A-37       $2,030,000.00
                         Class A-38     $673,178,000.00
                         Class A-39      $92,978,000.00
                         Class A-40      $37,976,756.00
                         Class A-41       $3,610,000.00
                         Class A-42       $1,000,000.00
                         Class A-43      $40,791,515.00
                         Class A-44     $200,000,000.00
                         Class A-45       $1,660,000.00
                         Class A-46       $1,660,000.00
                         Class A-47       $8,100,000.00
                         Class A-48       $2,260,000.00
                         Class A-49     $180,000,000.00
                         Class A-50      $15,131,919.00
                         Class A-PO      $35,148,529.00
                         Class A-R              $100.00

            Section 11.06 Original Aggregate Non-PO Principal Balance.

            The Original Aggregate Non-PO Principal Balance is
$5,064,973,885.95.

            Section 11.07 Original Class B Principal Balance.

            The Original Class B Principal Balance is $191,254,785.95.

            Section 11.08 Original Principal Balances of the Classes of Class B
Certificates.

            As to the following Classes of Class B Certificate, the Principal
Balance of such Class as of the Cut-Off Date, is as follows:

                                           Original
                         Class        Principal Balance
                         ----------   -----------------
                         Class B-1      $114,752,000.00
                         Class B-2       $30,601,000.00
                         Class B-3       $20,401,000.00
                         Class B-4       $10,200,000.00
                         Class B-5        $5,100,000.00
                         Class B-6       $10,200,785.95

            Section 11.09 Original Class B-1 Fractional Interest.

            The Original Class B-1 Fractional Interest is 1.51042804%.

            Section 11.10 Original Class B-2 Fractional Interest.

            The Original Class B-2 Fractional Interest is 0.90625908%.

            Section 11.11 Original Class B-3 Fractional Interest.

            The Original Class B-3 Fractional Interest is 0.50347319%.

            Section 11.12 Original Class B-4 Fractional Interest.

            The Original Class B-4 Fractional Interest is 0.30209012%.

            Section 11.13 Original Class B-5 Fractional Interest.

            The Original Class B-5 Fractional Interest is 0.20139858%.

            Section 11.14 Original Class B-1 Percentage.

            The Original Class B-1 Percentage is 2.26559905%.

            Section 11.15 Original Class B-2 Percentage.

            The Original Class B-2 Percentage is 0.60416896%.

            Section 11.16 Original Class B-3 Percentage.

            The Original Class B-3 Percentage is 0.40278589%.

            Section 11.17 Original Class B-4 Percentage.

            The Original Class B-4 Percentage is 0.20138307%.

            Section 11.18 Original Class B-5 Percentage.

            The Original Class B-5 Percentage is 0.10069154%.

            Section 11.19 Original Class B-6 Percentage.

            The Original Class B-6 Percentage is 0.20139859%.

            Section 11.20 Closing Date.

            The Closing Date is May 30, 2007.

            Section 11.21 Right to Purchase.

            The right of the Depositor to purchase all of the Mortgage Loans
pursuant to Section 9.01 hereof shall be conditioned upon the aggregate
Scheduled Principal Balance of the Mortgage Loans being less than
$510,012,241.51. (10% of the Cut-Off Date Aggregate Principal Balance) at the
time of any such purchase.

            Section 11.22 Single Certificate.

            A Single Certificate for the Class A-10, Class A-11, Class A-12,
Class A-13, Class A-14, Class A-15, Class A-16, Class A-17, Class A-18, Class
A-19, Class A-20, Class A-21, Class A-22, Class A-23, Class A-24, Class A-25,
Class A-26, Class A-27, Class A-28, Class A-29, Class A-30, Class A-31, Class
A-32, Class A-33, Class A-35, Class A-39, Class A-40 and Class A-42 Certificates
represents a $1,000 Denomination. A Single Certificate for the Class A-1, Class
A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-34, Class
A-36, Class A-38, Class A-44 and Class A-49 Certificates represents a $25,000
Denomination. A Single Certificate for the Class A-8, Class A-9, Class A-37,
Class A-41, Class A-43, Class A-45, Class A-46, Class A-47, Class A-48, Class
A-50, Class A-PO, Class B-1, Class B-2 and Class B-3 Certificates represents a
$100,000 Denomination. A Single Certificate for the Residual Certificate
represents a $100 Denomination. A Single Certificate for the Class A-51
Certificates represents a $5,043,973 Denomination. A Single Certificate for the
Class B-4, Class B-5 and Class B-6 Certificates represents a $250,000
Denomination.

            Section 11.23 Servicing Fee Rate.

            The rate used to calculate the Servicing Fee is equal to such rate
as is set forth on the Mortgage Loan Schedule with respect to a Mortgage Loan.

            Section 11.24 Master Servicing Fee Rate.

            The rate used to calculate the Master Servicing Fee for each
Mortgage Loan shall be 0.010% per annum.

<PAGE>

            IN WITNESS WHEREOF, the Depositor, the Master Servicer and the
Trustee have caused their names to be signed hereto by their respective officers
thereunto duly authorized, all as of the day and year first above written.

                                       WELLS FARGO ASSET SECURITIES CORPORATION
                                            as Depositor

                                       By:  /s/ Bradley A. Davis
                                            ------------------------------------
                                            Name: Bradley A. Davis
                                            Title: Vice President

                                       WELLS FARGO BANK, N.A.
                                            as Master Servicer

                                       By:  /s/ Amy Doyle
                                            ------------------------------------
                                            Name: Amy Doyle
                                            Title: Vice President

                                       HSBC BANK USA, NATIONAL ASSOCIATION
                                          as Trustee

                                       By:  /s/ Fernando Acebedo
                                            ------------------------------------
                                            Name: Fernando Acebedo
                                            Title: Vice President

<PAGE>

STATE OF MARYLAND       )
                        ss.:
COUNTY OF FREDERICK     )

            On this 30th day of May, 2007, before me, a notary public in and for
the State of Maryland, personally appeared Bradley A. Davis, known to me who,
being by me duly sworn, did depose and say that he resides at Cooksville,
Maryland; that he is a Vice President of Wells Fargo Asset Securities
Corporation, a Delaware corporation, one of the parties that executed the
foregoing instrument; and that he signed his name thereto by order of the Board
of Directors of said corporation.

_________________________
Notary Public

[NOTARIAL SEAL]

<PAGE>

STATE OF MARYLAND       )
                        ss.:
COUNTY OF               )

            On this 30th day of May, 2007, before me, a notary public in and for
the State of Maryland, personally appeared Amy Doyle, known to me who, being by
me duly sworn, did depose and say that she is a Vice President of Wells Fargo
Bank, N.A, a national banking association, one of the parties that executed the
foregoing instrument; and that she signed her name thereto by order of the Board
of Directors of said association.

_________________________
Notary Public

[NOTARIAL SEAL]

<PAGE>

STATE OF NEW YORK             )
                              ss.:
COUNTY OF NEW YORK            )

            On this 30th day of May, 2007, before me, a notary public in and for
the State of New York, personally appeared Fernando Acebedo, known to me who,
being by me duly sworn, did depose and say that he resides in Huntington, New
York; that he is a Vice President of HSBC Bank USA, National Association, a
national banking association, one of the parties that executed the foregoing
instrument; and that he signed his name thereto by order of the Board of
Directors of said association.

_________________________
Notary Public

[NOTARIAL SEAL]

<PAGE>

                                   SCHEDULE I

                    Wells Fargo Asset Securities Corporation,
                Mortgage Pass-Through Certificates, Series 2007-7
                 Applicable Unscheduled Principal Receipt Period

                             Full Unscheduled     Partial Unscheduled
          Servicer           Principal Receipts   Principal Receipts
          ----------------   ------------------   -------------------
          Wells Fargo Bank   Mid-Month            Mid-Month

<PAGE>

                                   SCHEDULE II

                              Schedule of PAC Group

            The following table sets forth for each Distribution Date the
planned Principal Balance for the PAC Group expressed as a percentage of the
initial aggregate Principal Balance of the PAC Group.

                  Planned Principal Balances as Percentages of
                Initial Aggregate Principal Balance of PAC Group

<TABLE>
<CAPTION>
                      Percentage of                           Percentage of                           Percentage of
                    Initial Aggregate                       Initial Aggregate                       Initial Aggregate
Distribution Date   Principal Balance   Distribution Date   Principal Balance   Distribution Date   Principal Balance
-----------------   -----------------   -----------------   -----------------   -----------------   -----------------
<S>                 <C>                 <C>                 <C>                 <C>                 <C>
January 2008             100.00000000%  May 2011                  58.15082907%  September 2014            21.56032948%
February 2008             99.49302277   June 2011                 57.03934031   October 2014              20.90389206
March 2008                98.94315267   July 2011                 55.93582573   November 2014             20.26147805
April 2008                98.35064845   August 2011               54.84022941   December 2014             19.63280792
May 2008                  97.71579845   September 2011            53.75249578   January 2015              19.01760753
June 2008                 97.03892047   October 2011              52.67256969   February 2015             18.41560798
July 2008                 96.32036145   November 2011             51.60039636   March 2015                17.82654556
August 2008               95.56049730   December 2011             50.53592142   April 2015                17.25016163
September 2008            94.75973253   January 2012              49.47909084   May 2015                  16.68620253
October 2008              93.91849997   February 2012             48.42985102   June 2015                 16.20557513
November 2008             93.03726041   March 2012                47.38814871   July 2015                 15.73500247
December 2008             92.11650217   April 2012                46.35393104   August 2015               15.27428211
January 2009              91.15674071   May 2012                  45.32714551   September 2015            14.82321554
February 2009             90.15851815   June 2012                 44.36468462   October 2015              14.38160818
March 2009                89.12240278   July 2012                 43.40942649   November 2015             13.94926924
April 2009                88.04898854   August 2012               42.46131989   December 2015             13.52601169
May 2009                  86.93889449   September 2012            41.52031400   January 2016              13.11165217
June 2009                 85.79276418   October 2012              40.58635834   February 2016             12.70601094
July 2009                 84.61126509   November 2012             39.65940279   March 2016                12.30891176
August 2009               83.39508796   December 2012             38.73939759   April 2016                11.92018188
September 2009            82.14495259   January 2013              37.82629332   May 2016                  11.53965194
October 2009              80.86159910   February 2013             36.92004091   June 2016                 11.22650959
November 2009             79.58742591   March 2013                36.02059164   July 2016                 10.91922398
December 2009             78.32236858   April 2013                35.12789713   August 2016               10.61768643
January 2010              77.06636313   May 2013                  34.24190935   September 2016            10.32179025
February 2010             75.81934602   June 2013                 33.38109822   October 2016              10.03143074
March 2010                74.58125415   July 2013                 32.52680278   November 2016              9.74650513
April 2010                73.35202491   August 2013               31.67897630   December 2016              9.46691252
May 2010                  72.13159607   September 2013            30.83757241   January 2017               9.19255391
June 2010                 70.91990587   October 2013              30.00254509   February 2017              8.92333209
July 2010                 69.71689300   November 2013             29.17384860   March 2017                 8.65915169
August 2010               68.52249654   December 2013             28.35143754   April 2017                 8.39991906
September 2010            67.33665603   January 2014              27.53526686   May 2017                   8.13356633
October 2010              66.15931143   February 2014             26.72529179   June 2017                  7.87235379
November 2010             64.99040312   March 2014                25.92146789   July 2017                  7.61618401
December 2010             63.82987189   April 2014                25.12375105   August 2017                7.36496143
January 2011              62.67765897   May 2014                  24.33209745   September 2017             7.11859224
February 2011             61.53370598   June 2014                 23.61666013   October 2017               6.87698441
March 2011                60.39795497   July 2014                 22.91642010   November 2017              6.64004765
April 2011                59.27034838   August 2014               22.23107530   December 2017              6.40769331
January 2018               6.17983446%  May 2019                   3.08049932%  September 2020             0.81794795%
February 2018              5.95638576   June 2019                  2.91722702   October 2020               0.69890297
March 2018                 5.73726347   July 2019                  2.75713635   November 2020              0.58219455
April 2018                 5.52238546   August 2019                2.60016661   December 2020              0.46777795
May 2018                   5.31167108   September 2019             2.44625830   January 2021               0.35560926
June 2018                  5.10504124   October 2019               2.29535299   February 2021              0.24564537
July 2018                  4.90241831   November 2019              2.14739338   March 2021                 0.13784403
August 2018                4.70372614   December 2019              2.00232324   April 2021                 0.03216374
                                                                                May 2021 and
September 2018             4.50888996   January 2020               1.86008738   thereafter                 0.00000000
October 2018               4.31783647   February 2020              1.72063168
November 2018              4.13049368   March 2020                 1.58390302
December 2018              3.94679100   April 2020                 1.44984928
January 2019               3.76665915   May 2020                   1.31841932
February 2019              3.59003013   June 2020                  1.18956297
March 2019                 3.41683725   July 2020                  1.06323101
April 2019                 3.24701505   August 2020                0.93937514
</TABLE>
<PAGE>

                                   EXHIBIT A-1
                     [FORM OF FACE OF CLASS A-1 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-1

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J AA8               First Distribution Date: June 25, 2007

ISIN No.: US94985JAA88              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-1 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-1 Certificates
required to be distributed to Holders of the Class A-1 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-1 Certificates applicable to each Distribution
Date will be 6.000% per annum. The amount of interest which accrues on this
Certificate in any month will be subject to reduction with respect to any
Non-Supported Interest Shortfall, any Relief Act Shortfall and the interest
portion of certain Realized Losses allocated to the Class A-1 Certificates, as
described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                   EXHIBIT A-2
                     [FORM OF FACE OF CLASS A-2 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-2

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J AB6               First Distribution Date: June 25, 2007

ISIN No.: US94985JAB61              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-2 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-2 Certificates
required to be distributed to Holders of the Class A-2 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-2 Certificates applicable to each Distribution
Date will be 6.000% per annum. The amount of interest which accrues on this
Certificate in any month will be subject to reduction with respect to any
Non-Supported Interest Shortfall, any Relief Act Shortfall and the interest
portion of certain Realized Losses allocated to the Class A-2 Certificates, as
described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                   EXHIBIT A-3
                     [FORM OF FACE OF CLASS A-3 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-3

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J AC4               First Distribution Date: June 25, 2007

ISIN No.: US94985JAC45              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-3 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-3 Certificates
required to be distributed to Holders of the Class A-3 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-3 Certificates applicable to each Distribution
Date will be 6.000% per annum. The amount of interest which accrues on this
Certificate in any month will be subject to reduction with respect to any
Non-Supported Interest Shortfall, any Relief Act Shortfall and the interest
portion of certain Realized Losses allocated to the Class A-3 Certificates, as
described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                   EXHIBIT A-4
                     [FORM OF FACE OF CLASS A-4 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-4

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J AD2               First Distribution Date: June 25, 2007

ISIN No.: US94985JAD28              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-4 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-4 Certificates
required to be distributed to Holders of the Class A-4 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-4 Certificates applicable to each Distribution
Date will be 6.000% per annum. The amount of interest which accrues on this
Certificate in any month will be subject to reduction with respect to any
Non-Supported Interest Shortfall, any Relief Act Shortfall and the interest
portion of certain Realized Losses allocated to the Class A-4 Certificates, as
described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                   EXHIBIT A-5
                     [FORM OF FACE OF CLASS A-5 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-5

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J AE0               First Distribution Date: June 25, 2007

ISIN No.: US94985JAE01              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-5 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-5 Certificates
required to be distributed to Holders of the Class A-5 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-5 Certificates applicable to each Distribution
Date will be 6.000% per annum. The amount of interest which accrues on this
Certificate in any month will be subject to reduction with respect to any
Non-Supported Interest Shortfall, any Relief Act Shortfall and the interest
portion of certain Realized Losses allocated to the Class A-5 Certificates, as
described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                   EXHIBIT A-6
                     [FORM OF FACE OF CLASS A-6 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-6

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J AF7               First Distribution Date: June 25, 2007

ISIN No.: US94985JAF75              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-6 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-6 Certificates
required to be distributed to Holders of the Class A-6 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-6 Certificates applicable to each Distribution
Date will be 6.000% per annum. The amount of interest which accrues on this
Certificate in any month will be subject to reduction with respect to any
Non-Supported Interest Shortfall, any Relief Act Shortfall and the interest
portion of certain Realized Losses allocated to the Class A-6 Certificates, as
described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                   EXHIBIT A-7
                     [FORM OF FACE OF CLASS A-7 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-7

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J AG5               First Distribution Date: June 25, 2007

ISIN No.: US94985JAG58              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-7 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-7 Certificates
required to be distributed to Holders of the Class A-7 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-7 Certificates applicable to each Distribution
Date will be 6.000% per annum. The amount of interest which accrues on this
Certificate in any month will be subject to reduction with respect to any
Non-Supported Interest Shortfall, any Relief Act Shortfall and the interest
portion of certain Realized Losses allocated to the Class A-7 Certificates, as
described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                   EXHIBIT A-8
                     [FORM OF FACE OF CLASS A-8 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-8

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J AH3               First Distribution Date: June 25, 2007

ISIN No.: US94985JAH32              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-8 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-8 Certificates
required to be distributed to Holders of the Class A-8 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-8 Certificates applicable to each Distribution
Date will be a floating rate of interest determined as specified in the
Agreement. The amount of interest which accrues on this Certificate in any
month will be subject to reduction with respect to any Non-Supported Interest
Shortfall, any Relief Act Shortfall and the interest portion of certain
Realized Losses allocated to the Class A-8 Certificates, as described in the
Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
  Authenticating Agent

By ________________________
   Authorized Officer

<PAGE>

                                   EXHIBIT A-9
                     [FORM OF FACE OF CLASS A-9 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-9

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE IS AN EXCHANGEABLE REMIC CERTIFICATE AS DESCRIBED
IN THE AGREEMENT REFERENCED HEREIN.

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE MAXIMUM INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                         Cut-Off Date: May 1, 2007

CUSIP No.: 94985J AJ9                   First Distribution Date: June 25, 2007

ISIN No.: US94985JAJ97                  Denomination: $

Percentage Interest evidenced           Maximum Initial Principal Balance: $
by this Certificate: %

Final Scheduled Maturity Date: June 25, 2037

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-9 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-9 Certificates
required to be distributed to Holders of the Class A-9 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-9 Certificates applicable to each Distribution
Date will be an inverse floating rate of interest determined as specified in
the Agreement. The amount of interest which accrues on this Certificate in any
month will be subject to reduction with respect to any Non-Supported Interest
Shortfall, any Relief Act Shortfall and the interest portion of certain
Realized Losses allocated to the Class A-9 Certificates, as described in the
Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
  Authenticating Agent

By ________________________
   Authorized Officer

<PAGE>

                                  EXHIBIT A-10
                    [FORM OF FACE OF CLASS A-10 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-10

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J AK6               First Distribution Date: June 25, 2007

ISIN No.: US94985JAK60              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-10 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-10 Certificates
required to be distributed to Holders of the Class A-10 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-10 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-10
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-11
                    [FORM OF FACE OF CLASS A-11 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-11

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J AL4               First Distribution Date: June 25, 2007

ISIN No.: US94985JAL44              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-11 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-11 Certificates
required to be distributed to Holders of the Class A-11 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-11 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-11
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-12
                    [FORM OF FACE OF CLASS A-12 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-12

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J AM2               First Distribution Date: June 25, 2007

ISIN No.: US94985JAM27              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-12 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-12 Certificates
required to be distributed to Holders of the Class A-12 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-12 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-12
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-13
                    [FORM OF FACE OF CLASS A-13 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-13

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J AN0               First Distribution Date: June 25, 2007

ISIN No.: US94985JAN00              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-13 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-13 Certificates
required to be distributed to Holders of the Class A-13 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-13 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-13
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-14
                    [FORM OF FACE OF CLASS A-14 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-14

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J AP5               First Distribution Date: June 25, 2007

ISIN No.: US94985JAP57              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-14 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-14 Certificates
required to be distributed to Holders of the Class A-14 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-14 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-14
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-15
                    [FORM OF FACE OF CLASS A-15 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-15

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J AQ3               First Distribution Date: June 25, 2007

ISIN No.: US94985JAQ31              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-15 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-15 Certificates
required to be distributed to Holders of the Class A-15 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-15 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-15
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-16
                    [FORM OF FACE OF CLASS A-16 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-16

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J AR1               First Distribution Date: June 25, 2007

ISIN No.: US94985JAR14              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-16 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-16 Certificates
required to be distributed to Holders of the Class A-16 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-16 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-16
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-17
                    [FORM OF FACE OF CLASS A-17 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-17

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J AS9               First Distribution Date: June 25, 2007

ISIN No.: US94985JAS96              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-17 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-17 Certificates
required to be distributed to Holders of the Class A-17 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-17 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-17
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-18
                    [FORM OF FACE OF CLASS A-18 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-18

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J AT7               First Distribution Date: June 25, 2007

ISIN No.: US94985JAT79              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-18 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-18 Certificates
required to be distributed to Holders of the Class A-18 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-18 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-18
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-19
                    [FORM OF FACE OF CLASS A-19 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-19

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J AU4               First Distribution Date: June 25, 2007

ISIN No.: US94985JAU43              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-19 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-19 Certificates
required to be distributed to Holders of the Class A-19 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-19 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-19
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-20
                    [FORM OF FACE OF CLASS A-20 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-20

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J AV2               First Distribution Date: June 25, 2007

ISIN No.: US94985JAV26              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-20 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-20 Certificates
required to be distributed to Holders of the Class A-20 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-20 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-20
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-21
                    [FORM OF FACE OF CLASS A-21 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-21

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J AW0               First Distribution Date: June 25, 2007

ISIN No.: US94985JAW09              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-21 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-21 Certificates
required to be distributed to Holders of the Class A-21 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-21 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-21
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-22
                    [FORM OF FACE OF CLASS A-22 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-22

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J AX8               First Distribution Date: June 25, 2007

ISIN No.: US94985JAX81              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-22 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-22 Certificates
required to be distributed to Holders of the Class A-22 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-22 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-22
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-23
                    [FORM OF FACE OF CLASS A-23 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-23

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J AY6               First Distribution Date: June 25, 2007

ISIN No.: US94985JAY64              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-23 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-23 Certificates
required to be distributed to Holders of the Class A-23 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-23 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-23
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-24
                    [FORM OF FACE OF CLASS A-24 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-24

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J AZ3               First Distribution Date: June 25, 2007

ISIN No.: US94985JAZ30              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-24 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-24 Certificates
required to be distributed to Holders of the Class A-24 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-24 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-24
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-25
                    [FORM OF FACE OF CLASS A-25 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-25

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J BA7               First Distribution Date: June 25, 2007

ISIN No.: US94985JBA79              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-25 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-25 Certificates
required to be distributed to Holders of the Class A-25 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-25 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-25
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-26
                    [FORM OF FACE OF CLASS A-26 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-26

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J BB5               First Distribution Date: June 25, 2007

ISIN No.: US94985JBB52              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-26 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-26 Certificates
required to be distributed to Holders of the Class A-26 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-26 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-26
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-27
                    [FORM OF FACE OF CLASS A-27 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-27

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J BC3               First Distribution Date: June 25, 2007

ISIN No.: US94985JBC36              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-27 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-27 Certificates
required to be distributed to Holders of the Class A-27 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-27 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-27
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-28
                    [FORM OF FACE OF CLASS A-28 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-28

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J BD1               First Distribution Date: June 25, 2007

ISIN No.: US94985JBD19              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-28 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-28 Certificates
required to be distributed to Holders of the Class A-28 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-28 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-28
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-29
                    [FORM OF FACE OF CLASS A-29 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-29

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J BE9               First Distribution Date: June 25, 2007

ISIN No.: US94985JBE91              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-29 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-29 Certificates
required to be distributed to Holders of the Class A-29 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-29 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-29
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-30
                    [FORM OF FACE OF CLASS A-30 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-30

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J BF6               First Distribution Date: June 25, 2007

ISIN No.: US94985JBF66              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-30 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-30 Certificates
required to be distributed to Holders of the Class A-30 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-30 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-30
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-31
                    [FORM OF FACE OF CLASS A-31 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-31

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J BG4               First Distribution Date: June 25, 2007

ISIN No.: US94985JBG40              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-31 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-31 Certificates
required to be distributed to Holders of the Class A-31 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-31 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-31
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-32
                    [FORM OF FACE OF CLASS A-32 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-32

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J BH2               First Distribution Date: June 25, 2007

ISIN No.: US94985JBH23              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-32 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-32 Certificates
required to be distributed to Holders of the Class A-32 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-32 Certificates applicable to each
Distribution Date will be 5.750% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-32
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-33
                    [FORM OF FACE OF CLASS A-33 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-33

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J BJ8               First Distribution Date: June 25, 2007

ISIN No.: US94985JBJ88              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-33 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-33 Certificates
required to be distributed to Holders of the Class A-33 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-33 Certificates applicable to each
Distribution Date will be 6.250% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-33
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-34
                    [FORM OF FACE OF CLASS A-34 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-34

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J BK5               First Distribution Date: June 25, 2007

ISIN No.: US94985JBK51              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-34 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-34 Certificates
required to be distributed to Holders of the Class A-34 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-34 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-34
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-35
                    [FORM OF FACE OF CLASS A-35 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-35

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J BL3               First Distribution Date: June 25, 2007

ISIN No.: US94985JBL35              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-35 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-35 Certificates
required to be distributed to Holders of the Class A-35 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-35 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-35
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-36
                    [FORM OF FACE OF CLASS A-36 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-36

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J BM1               First Distribution Date: June 25, 2007

ISIN No.: US94985JBM18              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-36 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-36 Certificates
required to be distributed to Holders of the Class A-36 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-36 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-36
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-37
                    [FORM OF FACE OF CLASS A-37 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-37

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            AFTER THE SUBORDINATION DEPLETION DATE, THE PRINCIPAL PORTION OF
REALIZED LOSSES ALLOCATED TO THE CLASS A-2 CERTIFICATES WILL BE BORNE BY THE
CLASS A-37 CERTIFICATES AS DESCRIBED IN THE AGREEMENT.

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J BN9               First Distribution Date: June 25, 2007

ISIN No.: US94985JBN90              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-37 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-37 Certificates
required to be distributed to Holders of the Class A-37 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-37 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-37
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-38
                    [FORM OF FACE OF CLASS A-38 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-38

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J BP4               First Distribution Date: June 25, 2007

ISIN No.: US94985JBP49              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-38 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-38 Certificates
required to be distributed to Holders of the Class A-38 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-38 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-38
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-39
                    [FORM OF FACE OF CLASS A-39 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-39

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J BQ2               First Distribution Date: June 25, 2007

ISIN No.: US94985JBQ22              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-39 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-39 Certificates
required to be distributed to Holders of the Class A-39 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-39 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-39
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-40
                    [FORM OF FACE OF CLASS A-40 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-40

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J BR0               First Distribution Date: June 25, 2007

ISIN No.: US94985JBR05              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-40 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-40 Certificates
required to be distributed to Holders of the Class A-40 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-40 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-40
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-41
                    [FORM OF FACE OF CLASS A-41 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-41

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            AFTER THE SUBORDINATION DEPLETION DATE, THE PRINCIPAL PORTION OF
REALIZED LOSSES ALLOCATED TO THE CLASS A-5 CERTIFICATES WILL BE BORNE BY THE
CLASS A-41 CERTIFICATES AS DESCRIBED IN THE AGREEMENT.

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J BS8               First Distribution Date: June 25, 2007

ISIN No.: US94985JBS87              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-41 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-41 Certificates
required to be distributed to Holders of the Class A-41 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-41 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-41
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-42
                    [FORM OF FACE OF CLASS A-42 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-42

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J BT6               First Distribution Date: June 25, 2007

ISIN No.: US94985JBT60              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-42 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-42 Certificates
required to be distributed to Holders of the Class A-42 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-42 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-42
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-43
                    [FORM OF FACE OF CLASS A-43 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-43

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J BU3               First Distribution Date: June 25, 2007

ISIN No.: US94985JBU34              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-43 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-43 Certificates
required to be distributed to Holders of the Class A-43 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-43 Certificates applicable to each
Distribution Date will be a floating rate of interest as specified in the
Agreement. The amount of interest which accrues on this Certificate in any
month will be subject to reduction with respect to any Non-Supported Interest
Shortfall, any Relief Act Shortfall and the interest portion of certain
Realized Losses allocated to the Class A-43 Certificates, as described in the
Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-44
                    [FORM OF FACE OF CLASS A-44 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-44

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J BV1               First Distribution Date: June 25, 2007

ISIN No.: US94985JBV17              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-44 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-44 Certificates
required to be distributed to Holders of the Class A-44 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-44 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-44
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-45
                    [FORM OF FACE OF CLASS A-45 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-45

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            AFTER THE SUBORDINATION DEPLETION DATE, THE PRINCIPAL PORTION OF
REALIZED LOSSES ALLOCATED TO THE CLASS A-6 CERTIFICATES WILL BE BORNE BY THE
CLASS A-45 CERTIFICATES AS DESCRIBED IN THE AGREEMENT.

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J BW9               First Distribution Date: June 25, 2007

ISIN No.: US94985JBW99              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-45 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-45 Certificates
required to be distributed to Holders of the Class A-45 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-45 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-45
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-46
                    [FORM OF FACE OF CLASS A-46 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-46

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            AFTER THE SUBORDINATION DEPLETION DATE, THE PRINCIPAL PORTION OF
REALIZED LOSSES ALLOCATED TO THE CLASS A-7 CERTIFICATES WILL BE BORNE BY THE
CLASS A-46 CERTIFICATES AS DESCRIBED IN THE AGREEMENT.

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J BX7               First Distribution Date: June 25, 2007

ISIN No.: US94985JBX72              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-46 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-46 Certificates
required to be distributed to Holders of the Class A-46 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-46 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-46
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-47
                    [FORM OF FACE OF CLASS A-47 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-47

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            AFTER THE SUBORDINATION DEPLETION DATE, THE PRINCIPAL PORTION OF
REALIZED LOSSES ALLOCATED TO THE CLASS A-44 CERTIFICATES WILL BE BORNE BY THE
CLASS A-47 CERTIFICATES AS DESCRIBED IN THE AGREEMENT.

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J BY5               First Distribution Date: June 25, 2007

ISIN No.: US94985JBY55              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-47 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-47 Certificates
required to be distributed to Holders of the Class A-47 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-47 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-47
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-48
                    [FORM OF FACE OF CLASS A-48 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-48

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            AFTER THE SUBORDINATION DEPLETION DATE, THE PRINCIPAL PORTION OF
REALIZED LOSSES ALLOCATED TO THE CLASS A-36 CERTIFICATES WILL BE BORNE BY THE
CLASS A-48 CERTIFICATES AS DESCRIBED IN THE AGREEMENT.

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J BZ2               First Distribution Date: June 25, 2007

ISIN No.: US94985JBZ21              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-48 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-48 Certificates
required to be distributed to Holders of the Class A-48 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-48 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-48
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-49
                    [FORM OF FACE OF CLASS A-49 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-49

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J CA6               First Distribution Date: June 25, 2007

ISIN No.: US94985JCA60              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-49 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-49 Certificates
required to be distributed to Holders of the Class A-49 Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-49 Certificates applicable to each
Distribution Date will be 6.000% per annum. The amount of interest which
accrues on this Certificate in any month will be subject to reduction with
respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and
the interest portion of certain Realized Losses allocated to the Class A-49
Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
     Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                  EXHIBIT A-50
                    [FORM OF FACE OF CLASS A-50 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-50

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE IS AN EXCHANGEABLE CERTIFICATE AS DESCRIBED IN THE
AGREEMENT REFERENCED HEREIN.

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE BALANCE OF THIS CERTIFICATE WILL
BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY, THE OUTSTANDING
BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE MAXIMUM INITIAL
PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                         Cut-Off Date: May 1, 2007

CUSIP No.: 94985J CB4                   First Distribution Date: June 25, 2007

ISIN No.: US94985JCB44                  Denomination: $

Percentage Interest evidenced           Maximum Initial Principal Balance: $
by this Certificate: %

Final Scheduled Maturity Date: June 25, 2037

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-50 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed to Holders of the Class
A-50 Certificates on such Distribution Date, subject to adjustment in certain
events as specified in the Agreement. The Class A-50 Certificates will be
entitled to distributions of principal in accordance with the provisions of the
Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution on this Certificate will be made after due notice
of the pendency of such distribution and only upon presentation and surrender
of this Certificate at the office or agency of the Paying Agent specified for
that purpose in the notice of final distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate represents beneficial ownership of an interest in
the Related Exchangeable REMIC Certificate.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
  Authenticating Agent

By ________________________
   Authorized Officer

<PAGE>

                                  EXHIBIT A-51
                    [FORM OF FACE OF CLASS A-51 CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-51

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE IS AN EXCHANGEABLE CERTIFICATE AS DESCRIBED IN THE
AGREEMENT REFERENCED HEREIN.

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE NOTIONAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING NOTIONAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE MAXIMUM INITIAL NOTIONAL AMOUNT REPRESENTED HEREBY.

Certificate No.                         Cut-Off Date: May 1, 2007

CUSIP No.: 94985J CC2                   First Distribution Date: June 25, 2007

ISIN No.: US94985JCC27                  Denomination: $

Percentage Interest evidenced           Maximum Initial Notional Amount: $
by this Certificate: %

Final Scheduled Maturity Date: June 25, 2037

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-51 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate,  monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the amount required to be distributed to Holders of the Class
A-51 Certificates on such Distribution Date, subject to adjustment in certain
events as specified in the Agreement. The Class A-51 Certificates will be
entitled to distributions of interest in accordance with the provisions of the
Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution on this Certificate will be made after due notice
of the pendency of such distribution and only upon presentation and surrender
of this Certificate at the office or agency of the Paying Agent specified for
that purpose in the notice of final distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate represents beneficial ownership of an interest in
the Related Exchangeable REMIC Certificate.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
  Authenticating Agent

By ________________________
   Authorized Officer

<PAGE>

                                  EXHIBIT A-PO
                    [FORM OF FACE OF CLASS A-PO CERTIFICATE]

  [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
   DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
 TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
       NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
 REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
 & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
  ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
                                INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-PO

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J CD0               First Distribution Date: June 25, 2007

ISIN No.: US94985JCD00              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ___________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class A-PO Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-PO Certificates
required to be distributed to Holders of the Class A-PO Certificates on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. The Class A-PO Certificates are principal only Certificates and will
not be entitled to distributions in respect of interest.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
  Authenticating Agent

By ________________________
   Authorized Officer

<PAGE>

                                   EXHIBIT A-R
                     [FORM OF FACE OF CLASS A-R CERTIFICATE]

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS THE "RESIDUAL
INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT" AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(2) AND 860D OF THE INTERNAL REVENUE
CODE OF 1986, AS AMENDED (THE "CODE"). A TRANSFEREE OF THIS CERTIFICATE, BY
ACCEPTANCE HEREOF, IS DEEMED TO HAVE ACCEPTED THIS CERTIFICATE SUBJECT TO
CERTAIN RESTRICTIONS ON TRANSFERABILITY, AS SET FORTH IN SECTION 5.02(d) OF THE
AGREEMENT, AND SHALL BE REQUIRED TO FURNISH AN AFFIDAVIT TO THE TRANSFEROR AND
THE MASTER SERVICER TO THE EFFECT THAT, AMONG OTHER THINGS, IT IS NOT A
DISQUALIFIED ORGANIZATION, AS SUCH TERM IS DEFINED IN CODE SECTION 860E(e)(5),
AN AGENT (INCLUDING A BROKER, NOMINEE OR OTHER MIDDLEMAN) FOR A DISQUALIFIED
ORGANIZATION OR A NON-PERMITTED FOREIGN HOLDER, AS DEFINED IN SECTION 5.02(d)
OF THE AGREEMENT AND TO HAVE AGREED TO SUCH AMENDMENTS TO THE AGREEMENT AS MAY
BE REQUIRED TO FURTHER EFFECTUATE THE RESTRICTIONS ON TRANSFERS TO DISQUALIFIED
ORGANIZATIONS, AGENTS THEREOF OR NON-PERMITTED FOREIGN HOLDERS.

THE HOLDER OF THIS CLASS A-R CERTIFICATE, BY ACCEPTANCE HEREOF, IS DEEMED TO
HAVE AGREED TO THE DESIGNATION OF THE MASTER SERVICER AS ITS AGENT TO ACT AS
"TAX MATTERS PERSON" OF THE UPPER-TIER REMIC AND LOWER-TIER REMIC TO PERFORM THE
FUNCTIONS OF A "TAX MATTERS PARTNER" FOR PURPOSES OF SUBCHAPTER C OF CHAPTER 63
OF SUBTITLE F OF THE CODE, OR, IF SO REQUESTED BY THE MASTER SERVICER, TO ACT
AS TAX MATTERS PERSON OF THE UPPER-TIER REMIC AND LOWER-TIER REMIC.

THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY PERSON WHICH IS
AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT SUBJECT TO TITLE I OF
THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR
SECTION 4975 OF THE CODE OR A GOVERNMENTAL PLAN, AS DEFINED IN SECTION 3(32) OF
ERISA SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW WHICH IS, TO A MATERIAL
EXTENT, SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (COLLECTIVELY,
A "PLAN"), OR ANY PERSON ACTING ON BEHALF OF OR INVESTING THE ASSETS OF A PLAN.

<PAGE>

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS A-R

                    evidencing an interest in a pool of fixed
                           interest rate, monthly pay,
                               first lien, one- to
                 four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J CE8               First Distribution Date: June 25, 2007

ISIN No.: US94985JCE82              Denomination: $

Percentage Interest evidenced
by this Certificate: %              Final Scheduled Maturity Date: June 25, 2037

<PAGE>

            THIS CERTIFIES THAT __________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holder of the Class A-R Certificate with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and the Class A Distribution Amount for the Class A-R Certificate
required to be distributed to the Holder of the Class A-R Certificate on such
Distribution Date, subject to adjustment in certain events as specified in the
Agreement. Distributions in reduction of the Principal Balance of certain
Classes of Class A Certificates may not commence on the first Distribution Date
specified above. Distributions of principal will be allocated among the Classes
of Class A Certificates in accordance with the provisions of the Agreement. The
pass-through rate on the Class A-R Certificate applicable to each Distribution
Date will be 6.000% per annum. The amount of interest which accrues on this
Certificate in any month will be subject to reduction with respect to any
Non-Supported Interest Shortfall, any Relief Act Shortfall and the interest
portion of certain Realized Losses allocated to the Class A-R Certificate, as
described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution on this Certificate will be made after due notice
of the pendency of such distribution and only upon presentation and surrender
of this Certificate at the office or agency of the Paying Agent specified for
that purpose in the notice of final distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
  Authenticating Agent

By ________________________
      Authorized Officer

<PAGE>

                                   EXHIBIT B-1
                     [FORM OF FACE OF CLASS B-1 CERTIFICATE]

THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE CLASS A
CERTIFICATES AS DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
& CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS B-1

   evidencing an interest in a pool of fixed interest rate, monthly pay, first
          lien, one- to four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J CF5               First Distribution Date: June 25, 2007

ISIN No.: US94985JCF57              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ____________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class B-1 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and, subject to the prior rights of the Class A Certificates as
specified in the Agreement, any Class B-1 Distribution Amount required to be
distributed to Holders of the Class B-1 Certificates on such Distribution Date,
subject to adjustment, in certain events, as specified in the Agreement. The
pass-through rate on the Class B-1 Certificates applicable to each Distribution
Date will be 6.000% per annum. The amount of interest which accrues on this
Certificate in any month will be subject to reduction with respect to any
Non-Supported Interest Shortfall and any Relief Act Shortfall allocated to the
Class B-1 Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
  Authenticating Agent

By ________________________
   Authorized Officer

<PAGE>

                                   EXHIBIT B-2
                     [FORM OF FACE OF CLASS B-2 CERTIFICATE]

THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE CLASS A
CERTIFICATES AND THE CLASS B-1 CERTIFICATES AS DESCRIBED IN THE AGREEMENT
REFERRED TO HEREIN.

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
& CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS B-2

   evidencing an interest in a pool of fixed interest rate, monthly pay, first
          lien, one- to four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J CG3               First Distribution Date: June 25, 2007

ISIN No.: US94985JCG31              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ____________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class B-2 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and, subject to the prior rights of the Class A Certificates and
each Class of Class B Certificates bearing a lower numerical designation as
specified in the Agreement, any Class B-2 Distribution Amount required to be
distributed to Holders of the Class B-2 Certificates on such Distribution Date,
subject to adjustment, in certain events, as specified in the Agreement. The
pass-through rate on the Class B-2 Certificates applicable to each Distribution
Date will be 6.000% per annum. The amount of interest which accrues on this
Certificate in any month will be subject to reduction with respect to any
Non-Supported Interest Shortfall and any Relief Act Shortfall allocated to the
Class B-2 Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
  Authenticating Agent

By ________________________
   Authorized Officer

<PAGE>

                                   EXHIBIT B-3

                     [FORM OF FACE OF CLASS B-3 CERTIFICATE]

THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE CLASS A
CERTIFICATES, THE CLASS B-1 CERTIFICATES AND THE CLASS B-2 CERTIFICATES AS
DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY TO THE DEPOSITOR OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE
& CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN.]

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS B-3

   evidencing an interest in a pool of fixed interest rate, monthly pay, first
          lien, one- to four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J CH1               First Distribution Date: June 25, 2007

ISIN No.: US94985JCH14              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT _______________________________ is the
registered owner of the Percentage Interest evidenced by this Certificate in
monthly distributions to the Holders of the Class B-3 Certificates with respect
to a Trust Estate consisting of a pool of fixed interest rate, monthly pay,
first lien, one- to four-family residential mortgage loans (the "Mortgage
Loans"), other than the Fixed Retained Yield, if any, with respect thereto,
formed by Wells Fargo Asset Securities Corporation (hereinafter called the
"Depositor," which term includes any successor entity under the Agreement
referred to below). The Trust Estate was created pursuant to a Pooling and
Servicing Agreement dated as of May 30, 2007 (the "Agreement") among the
Depositor, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer")
and HSBC Bank USA, National Association, as trustee (the "Trustee"), a summary
of certain of the pertinent provisions of which is set forth hereinafter. To
the extent not defined herein, the capitalized terms used herein have the
meanings ascribed to such terms in the Agreement. This Certificate is issued
under and is subject to the terms, provisions and conditions of the Agreement,
to which Agreement the Holder of this Certificate by virtue of the acceptance
hereof assents and by which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and, subject to the prior rights of the Class A Certificates and
each Class of Class B Certificates bearing a lower numerical designation as
specified in the Agreement, any Class B-3 Distribution Amount required to be
distributed to Holders of the Class B-3 Certificates on such Distribution Date,
subject to adjustment, in certain events, as specified in the Agreement. The
pass-through rate on the Class B-3 Certificates applicable to each Distribution
Date will be 6.000% per annum. The amount of interest which accrues on this
Certificate in any month will be subject to reduction with respect to any
Non-Supported Interest Shortfall and any Relief Act Shortfall allocated to the
Class B-3 Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
  Authenticating Agent

By ________________________
   Authorized Officer

<PAGE>

                                   EXHIBIT B-4
                     [FORM OF FACE OF CLASS B-4 CERTIFICATE]

THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE CLASS A
CERTIFICATES, THE CLASS B-1 CERTIFICATES, THE CLASS B-2 CERTIFICATES AND THE
CLASS B-3 CERTIFICATES AS DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE
RESOLD OR TRANSFERRED UNLESS IT IS REGISTERED PURSUANT TO SUCH ACT AND LAWS OR
IS SOLD OR TRANSFERRED IN TRANSACTIONS WHICH ARE EXEMPT FROM REGISTRATION UNDER
SUCH ACT AND UNDER APPLICABLE STATE LAW AND IS TRANSFERRED IN ACCORDANCE WITH
THE PROVISIONS OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.

EXCEPT AS PROVIDED IN SECTION 5.02(C) OF THE AGREEMENT REFERRED TO HEREIN, THIS
CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY PERSON THAT HAS NOT
DELIVERED A REPRESENTATION LETTER STATING EITHER (A) THAT THE TRANSFEREE IS NOT
AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT SUBJECT TO TITLE I OF
THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"), OR
A GOVERNMENTAL PLAN, AS DEFINED IN SECTION 3(32) OF ERISA, SUBJECT TO ANY
FEDERAL, STATE OR LOCAL LAW WHICH IS, TO A MATERIAL EXTENT, SIMILAR TO THE
FOREGOING PROVISIONS OF ERISA OR THE CODE (COLLECTIVELY, A "PLAN"), AND IS NOT
ACTING ON BEHALF OF OR INVESTING THE ASSETS OF A PLAN OR (B) SUBJECT TO CERTAIN
CONDITIONS SET FORTH IN THE AGREEMENT, THAT THE SOURCE OF FUNDS USED TO
PURCHASE THIS CERTIFICATE IS AN "INSURANCE COMPANY GENERAL ACCOUNT."

<PAGE>

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS B-4

   evidencing an interest in a pool of fixed interest rate, monthly pay, first
          lien, one- to four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J CJ7               First Distribution Date: June 25, 2007

ISIN No.: US94985JCJ79              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ____________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class B-4 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and, subject to the prior rights of the Class A Certificates and
each Class of Class B Certificates bearing a lower numerical designation as
specified in the Agreement, any Class B-4 Distribution Amount required to be
distributed to Holders of the Class B-4 Certificates on such Distribution Date,
subject to adjustment, in certain events, as specified in the Agreement. The
pass-through rate on the Class B-4 Certificates applicable to each Distribution
Date will be 6.000% per annum. The amount of interest which accrues on this
Certificate in any month will be subject to reduction with respect to any
Non-Supported Interest Shortfall and any Relief Act Shortfall allocated to the
Class B-4 Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            No transfer of a Class B-4 Certificate will be made unless such
transfer is exempt from the registration requirements of the Securities Act of
1933, as amended, and any applicable state securities laws or is made in
accordance with said Act and laws. In the event that such a transfer is desired
to be made by the Holder hereof, the transferee will be required to execute an
investment letter in the form described in the Agreement. The Holder hereof
desiring to effect such transfer shall, and does hereby agree to, indemnify the
Trustee, the Depositor, the Master Servicer, and any Paying Agent against any
liability that may result if the transfer is not so exempt or is not made in
accordance with such Federal and state laws. The representations required in
any investment letter shall be deemed to have been made in connection with a
transfer of a Class B-4 Certificate that is a Book-Entry Certificate. In
connection with any such transfer, the Master Servicer will also require (i) a
representation letter, in the form as described in the Agreement, stating
either (a) that the transferee is not a Plan and is not acting on behalf of a
Plan or using the assets of a Plan to effect such purchase or (b) subject to
certain conditions described in the Agreement, that the source of funds used to
purchase this Certificate is an "insurance company general account," or (ii) if
such transferee is a Plan, (a) an opinion of counsel acceptable to and in form
and substance satisfactory to the Master Servicer and the Depositor with
respect to certain matters and (b) such other documentation as the Depositor or
the Master Servicer may require, as described in the Agreement.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
  Authenticating Agent

By ________________________
   Authorized Officer

<PAGE>

                                   EXHIBIT B-5
                     [FORM OF FACE OF CLASS B-5 CERTIFICATE]

THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE CLASS A
CERTIFICATES, THE CLASS B-1 CERTIFICATES, THE CLASS B-2 CERTIFICATES, THE CLASS
B-3 CERTIFICATES AND THE CLASS B-4 CERTIFICATES AS DESCRIBED IN THE AGREEMENT
REFERRED TO HEREIN.

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE
RESOLD OR TRANSFERRED UNLESS IT IS REGISTERED PURSUANT TO SUCH ACT AND LAWS OR
IS SOLD OR TRANSFERRED IN TRANSACTIONS WHICH ARE EXEMPT FROM REGISTRATION UNDER
SUCH ACT AND UNDER APPLICABLE STATE LAW AND IS TRANSFERRED IN ACCORDANCE WITH
THE PROVISIONS OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.

EXCEPT AS PROVIDED IN SECTION 5.02(C) OF THE AGREEMENT REFERRED TO HEREIN, THIS
CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY PERSON THAT HAS NOT
DELIVERED A REPRESENTATION LETTER STATING EITHER (A) THAT THE TRANSFEREE IS NOT
AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT SUBJECT TO TITLE I OF
THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"), OR
A GOVERNMENTAL PLAN, AS DEFINED IN SECTION 3(32) OF ERISA, SUBJECT TO ANY
FEDERAL, STATE OR LOCAL LAW WHICH IS, TO A MATERIAL EXTENT, SIMILAR TO THE
FOREGOING PROVISIONS OF ERISA OR THE CODE (COLLECTIVELY, A "PLAN"), AND IS NOT
ACTING ON BEHALF OF OR INVESTING THE ASSETS OF A PLAN OR (B) SUBJECT TO CERTAIN
CONDITIONS SET FORTH IN THE AGREEMENT, THAT THE SOURCE OF FUNDS USED TO
PURCHASE THIS CERTIFICATE IS AN "INSURANCE COMPANY GENERAL ACCOUNT."

<PAGE>

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS B-5

   evidencing an interest in a pool of fixed interest rate, monthly pay, first
          lien, one- to four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J CK4               First Distribution Date: June 25, 2007

ISIN No.: US94985JCK43              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ____________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class B-5 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and, subject to the prior rights of the Class A Certificates and
each Class of Class B Certificates bearing a lower numerical designation as
specified in the Agreement, any Class B-5 Distribution Amount required to be
distributed to Holders of the Class B-5 Certificates on such Distribution Date,
subject to adjustment, in certain events, as specified in the Agreement. The
pass-through rate on the Class B-5 Certificates applicable to each Distribution
Date will be 6.000% per annum. The amount of interest which accrues on this
Certificate in any month will be subject to reduction with respect to any
Non-Supported Interest Shortfall and any Relief Act Shortfall allocated to the
Class B-5 Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            No transfer of a Class B-5 Certificate will be made unless such
transfer is exempt from the registration requirements of the Securities Act of
1933, as amended, and any applicable state securities laws or is made in
accordance with said Act and laws. In the event that such a transfer is desired
to be made by the Holder hereof, the transferee will be required to execute an
investment letter in the form described in the Agreement. The Holder hereof
desiring to effect such transfer shall, and does hereby agree to, indemnify the
Trustee, the Depositor, the Master Servicer, and any Paying Agent against any
liability that may result if the transfer is not so exempt or is not made in
accordance with such Federal and state laws. The representations required in
any investment letter shall be deemed to have been made in connection with a
transfer of a Class B-5 Certificate that is a Book-Entry Certificate. In
connection with any such transfer, the Master Servicer will also require (i) a
representation letter, in the form as described in the Agreement, stating
either (a) that the transferee is not a Plan and is not acting on behalf of a
Plan or using the assets of a Plan to effect such purchase or (b) subject to
certain conditions described in the Agreement, that the source of funds used to
purchase this Certificate is an "insurance company general account," or (ii) if
such transferee is a Plan, (a) an opinion of counsel acceptable to and in form
and substance satisfactory to the Master Servicer and the Depositor with
respect to certain matters and (b) such other documentation as the Depositor or
the Master Servicer may require, as described in the Agreement.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
  Authenticating Agent

By ________________________
   Authorized Officer

<PAGE>

                                   EXHIBIT B-6
                     [FORM OF FACE OF CLASS B-6 CERTIFICATE]

THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE CLASS A
CERTIFICATES, THE CLASS B-1 CERTIFICATES, THE CLASS B-2 CERTIFICATES, THE CLASS
B-3 CERTIFICATES, THE CLASS B-4 CERTIFICATES AND THE CLASS B-5 CERTIFICATES AS
DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE
RESOLD OR TRANSFERRED UNLESS IT IS REGISTERED PURSUANT TO SUCH ACT AND LAWS OR
IS SOLD OR TRANSFERRED IN TRANSACTIONS WHICH ARE EXEMPT FROM REGISTRATION UNDER
SUCH ACT AND UNDER APPLICABLE STATE LAW AND IS TRANSFERRED IN ACCORDANCE WITH
THE PROVISIONS OF SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.

EXCEPT AS PROVIDED IN SECTION 5.02(C) OF THE AGREEMENT REFERRED TO HEREIN, THIS
CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY PERSON THAT HAS NOT
DELIVERED A REPRESENTATION LETTER STATING EITHER (A) THAT THE TRANSFEREE IS NOT
AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT SUBJECT TO TITLE I OF
THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"), OR
A GOVERNMENTAL PLAN, AS DEFINED IN SECTION 3(32) OF ERISA, SUBJECT TO ANY
FEDERAL, STATE OR LOCAL LAW WHICH IS, TO A MATERIAL EXTENT, SIMILAR TO THE
FOREGOING PROVISIONS OF ERISA OR THE CODE (COLLECTIVELY, A "PLAN"), AND IS NOT
ACTING ON BEHALF OF OR INVESTING THE ASSETS OF A PLAN OR (B) SUBJECT TO CERTAIN
CONDITIONS SET FORTH IN THE AGREEMENT, THAT THE SOURCE OF FUNDS USED TO
PURCHASE THIS CERTIFICATE IS AN "INSURANCE COMPANY GENERAL ACCOUNT."

<PAGE>

                        MORTGAGE PASS-THROUGH CERTIFICATE
                            SERIES 2007-7, CLASS B-6

   evidencing an interest in a pool of fixed interest rate, monthly pay, first
          lien, one- to four-family residential mortgage loans sold by

                    WELLS FARGO ASSET SECURITIES CORPORATION
               (Not an interest in or obligation of the Depositor)

            THIS CERTIFICATE DOES NOT EVIDENCE AN OBLIGATION OF, OR AN INTEREST
IN, THE DEPOSITOR, THE MASTER SERVICER, THE TRUSTEE OR ANY OF THEIR AFFILIATES,
AND IS NOT INSURED OR GUARANTEED BY THE DEPOSITOR, THE MASTER SERVICER, THE
TRUSTEE OR ANY OF THEIR AFFILIATES, OR BY ANY GOVERNMENT AGENCY OR PRIVATE
INSURER.

            DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE OF THIS
CERTIFICATE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL PRINCIPAL BALANCE REPRESENTED HEREBY.

Certificate No.                     Cut-Off Date: May 1, 2007

CUSIP No.: 94985J CL2               First Distribution Date: June 25, 2007

ISIN No.: US94985JCL26              Denomination: $

Percentage Interest evidenced       Final Scheduled Maturity Date: June 25, 2037
by this Certificate: %

<PAGE>

            THIS CERTIFIES THAT ____________________________ is the registered
owner of the Percentage Interest evidenced by this Certificate in monthly
distributions to the Holders of the Class B-6 Certificates with respect to a
Trust Estate consisting of a pool of fixed interest rate, monthly pay, first
lien, one- to four-family residential mortgage loans (the "Mortgage Loans"),
other than the Fixed Retained Yield, if any, with respect thereto, formed by
Wells Fargo Asset Securities Corporation (hereinafter called the "Depositor,"
which term includes any successor entity under the Agreement referred to
below). The Trust Estate was created pursuant to a Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Agreement") among the Depositor, Wells
Fargo Bank, N.A., as master servicer (the "Master Servicer") and HSBC Bank USA,
National Association, as trustee (the "Trustee"), a summary of certain of the
pertinent provisions of which is set forth hereinafter. To the extent not
defined herein, the capitalized terms used herein have the meanings ascribed to
such terms in the Agreement. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Holder of this Certificate by virtue of the acceptance hereof assents and by
which such Holder is bound.

            Pursuant to the terms of the Agreement, a distribution will be made
on the 25th day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"), commencing on the
first Distribution Date specified above, to the Person in whose name this
Certificate is registered at the close of business on the Record Date, in an
amount equal to the product of the Percentage Interest evidenced by this
Certificate and, subject to the prior rights of the Class A Certificates and
each Class of Class B Certificates bearing a lower numerical designation as
specified in the Agreement, any Class B-6 Distribution Amount required to be
distributed to Holders of the Class B-6 Certificates on such Distribution Date,
subject to adjustment, in certain events, as specified in the Agreement. The
pass-through rate on the Class B-6 Certificates applicable to each Distribution
Date will be 6.000% per annum. The amount of interest which accrues on this
Certificate in any month will be subject to reduction with respect to any
Non-Supported Interest Shortfall and any Relief Act Shortfall allocated to the
Class B-6 Certificates, as described in the Agreement.

            Distributions on this Certificate will be made by the Paying Agent
by check mailed to the address of the Person entitled thereto, as such name and
address shall appear on the Certificate Register, unless such Person has
notified the Paying Agent pursuant to the Agreement that such payments are to
be made by wire transfer of immediately available funds. Notwithstanding the
above, the final distribution in reduction of the Principal Balance of this
Certificate will be made after due notice of the pendency of such distribution
and only upon presentation and surrender of this Certificate at the office or
agency of the Paying Agent specified for that purpose in the notice of final
distribution.

            No transfer of a Class B-6 Certificate will be made unless such
transfer is exempt from the registration requirements of the Securities Act of
1933, as amended, and any applicable state securities laws or is made in
accordance with said Act and laws. In the event that such a transfer is desired
to be made by the Holder hereof, the transferee will be required to execute an
investment letter in the form described in the Agreement. The Holder hereof
desiring to effect such transfer shall, and does hereby agree to, indemnify the
Trustee, the Depositor, the Master Servicer, and any Paying Agent against any
liability that may result if the transfer is not so exempt or is not made in
accordance with such Federal and state laws. The representations required in
any investment letter shall be deemed to have been made in connection with a
transfer of a Class B-6 Certificate that is a Book-Entry Certificate. In
connection with any such transfer, the Master Servicer will also require (i) a
representation letter, in the form as described in the Agreement, stating
either (a) that the transferee is not a Plan and is not acting on behalf of a
Plan or using the assets of a Plan to effect such purchase or (b) subject to
certain conditions described in the Agreement, that the source of funds used to
purchase this Certificate is an "insurance company general account," or (ii) if
such transferee is a Plan, (a) an opinion of counsel acceptable to and in form
and substance satisfactory to the Master Servicer and the Depositor with
respect to certain matters and (b) such other documentation as the Depositor or
the Master Servicer may require, as described in the Agreement.

            Reference is hereby made to the further provisions of this
Certificate set forth on the reverse hereof, which further provisions shall for
all purposes have the same effect as if set forth at this place.

            This Certificate constitutes a "regular interest" in a "real estate
mortgage investment conduit" as those terms are defined in Section 860G(a)(1)
and Section 860D, respectively, of the Internal Revenue Code of 1986, as
amended.

            Unless this Certificate has been countersigned by an authorized
officer of the Authenticating Agent, by manual signature, this Certificate
shall not be entitled to any benefit under the Agreement or be valid for any
purpose.

<PAGE>

            IN WITNESS WHEREOF, the Paying Agent has caused this Certificate to
be duly executed as of the date set forth below.

Dated:

                                                 Wells Fargo Bank, N.A.,
                                                     Paying Agent

                                                By____________________________
                                                     Authorized Officer

Countersigned:

Wells Fargo Bank, N.A.,
  Authenticating Agent

By ________________________
   Authorized Officer

<PAGE>

                                    EXHIBIT C

                 [Form of Reverse of Series 2007-7 Certificates]

                    WELLS FARGO ASSET SECURITIES CORPORATION
                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 2007-7

            This Certificate is one of a duly authorized issue of Certificates
issued in several Classes designated as Mortgage Pass-Through Certificates of
the Series specified hereon (herein collectively called the "Certificates").

            The Certificates are limited in right of payment to certain
collections and recoveries respecting the Mortgage Loans, all as more
specifically set forth herein and in the Agreement. In the event funds are
advanced with respect to any Mortgage Loan by a Servicer, the Master Servicer
or the Trustee, such advances are reimbursable to such Servicer, the Master
Servicer or the Trustee to the extent provided in the Agreement, from related
recoveries on such Mortgage Loan or from other cash that would have been
distributable to Certificateholders.

            As provided in the Agreement, withdrawals from the Certificate
Account created for the benefit of Certificateholders may be made by the Master
Servicer from time to time for purposes other than distributions to
Certificateholders, such purposes including reimbursement to a Servicer, the
Master Servicer or the Trustee, as applicable, of advances made by such
Servicer, the Master Servicer or the Trustee.

            The Agreement permits, with certain exceptions therein provided,
the amendment of the Agreement and the modification of the rights and
obligations of the Depositor, the Master Servicer and the Trustee and the
rights of the Certificateholders under the Agreement at any time by the
Depositor, the Master Servicer and the Trustee with the consent of the Holders
of Certificates evidencing in the aggregate not less than 66 2/3% of the Voting
Interests of each Class of Certificates affected thereby. Any such consent by
the Holder of this Certificate shall be conclusive and binding on such Holder
and upon all future holders of this Certificate and of any Certificate issued
upon the transfer hereof or in exchange hereof or in lieu hereof whether or not
notation of such consent is made upon the Certificate. The Agreement also
permits the amendment thereof in certain circumstances without the consent of
the Holders of any of the Certificates.

            As provided in the Agreement and subject to certain limitations
therein set forth, the transfer of this Certificate is registrable in the
Certificate Register upon surrender of this Certificate for registration of
transfer at the office or agency maintained by the Certificate Registrar, duly
endorsed by, or accompanied by an assignment in the form below or other written
instrument of transfer in form satisfactory to the Certificate Registrar, duly
executed by the Holder hereof or such Holder's attorney duly authorized in
writing, and thereupon one or more new Certificates of authorized Denominations
evidencing the same Class and aggregate Percentage Interest will be issued to
the designated transferee or transferees.

            The Certificates are issuable only as registered Certificates
without coupons in Classes and Denominations specified in the Agreement. As
provided in the Agreement and subject to certain limitations therein set forth,
Certificates are exchangeable for new Certificates of authorized Denominations
evidencing the same Class and aggregate Percentage Interest, as requested by
the Holder surrendering the same.

            No service charge will be made for any such registration of
transfer or exchange, but the Certificate Registrar may require payment of a
sum sufficient to cover any tax or other governmental charge payable in
connection therewith.

            The Depositor, the Master Servicer, the Trustee, the Paying Agent
and the Certificate Registrar, and any agent of the Depositor, the Master
Servicer, the Trustee, the Paying Agent or the Certificate Registrar, may treat
the Person in whose name this Certificate is registered as the owner hereof for
all purposes, and neither the Depositor, the Master Servicer, the Trustee, the
Certificate Registrar nor any such agent shall be affected by notice to the
contrary.

            The obligations created by the Agreement in respect of the
Certificates and the Trust Estate created thereby shall terminate upon the last
action required to be taken by the Paying Agent on the Final Distribution Date
pursuant to the Agreement following the earlier of (i) the payment or other
liquidation (or advance with respect thereto) of the last Mortgage Loan subject
thereto or the disposition of all property acquired upon foreclosure or deed in
lieu of foreclosure of any Mortgage Loan, and (ii) the purchase by the
Depositor from the Trust Estate of all remaining Mortgage Loans and all
property acquired in respect of such Mortgage Loans; provided, however, that
the Trust Estate will in no event continue beyond the expiration of 21 years
from the death of the last survivor of the descendants of Joseph P. Kennedy,
the late ambassador of the United States to the Court of St. James, living on
the date of the Agreement. The Agreement permits, but does not require, the
Depositor to purchase all remaining Mortgage Loans and all property acquired in
respect of any Mortgage Loan at a price determined as provided in the
Agreement. The exercise of such option will effect early retirement of the
Certificates, the Depositor's right to exercise such option being subject to
the Pool Scheduled Principal Balance of the Mortgage Loans as of the
Distribution Date upon which the proceeds of such repurchase are distributed
being less than ten percent of the Cut-Off Date Aggregate Principal Balance.

<PAGE>

                                   ASSIGNMENT
                                   ----------

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s)
unto
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
    (Please print or typewrite name and address including postal zip code of
                                    assignee)

the beneficial interest evidenced by the within Mortgage Pass-Through
Certificate and hereby authorizes the transfer of registration of such interest
to assignee on the Certificate Register of the Trust Estate.

            I (We) further direct the Certificate Registrar to issue a new
Certificate of a like Denomination or Percentage Interest and Class, to the
above named assignee and deliver such Certificate to the following address:
________________________________________________________________________________
________________________________________________________________________________

Social Security or other Identifying Number of Assignee:

Dated:

                                      -----------------------------------------
                                         Signature by or on behalf of assignor

                                      -----------------------------------------
                                         Signature Guaranteed

<PAGE>

                            DISTRIBUTION INSTRUCTIONS

            The assignee should include the following for purposes of
distribution:

            Distributions shall be made by wire transfer or otherwise, in
immediately available funds to__________________________________________ for the
account of ______________________________________________________ account number
_____________, or, if mailed by check, to __________________________. Applicable
statements should be mailed to _________________________________________________
_______________________________________________________________.

            This information is provided by _____________, the assignee named
above, or ___________________________________, as its agent.

<PAGE>

                                    EXHIBIT D

                                    RESERVED

<PAGE>

                                    EXHIBIT E

                               CUSTODIAL AGREEMENT
                               -------------------

            THIS CUSTODIAL AGREEMENT (as amended and supplemented from time to
time, the "Agreement"), dated as of May 30, 2007, by and among HSBC BANK USA,
NATIONAL ASSOCIATION, not individually, but solely as Trustee (including its
successors under the Pooling and Servicing Agreement defined below, the
"Trustee"), WELLS FARGO ASSET SECURITIES CORPORATION (together with any
successor in interest, the "Depositor"), WELLS FARGO BANK, N.A. (together with
any successor in interest or successor under the Pooling and Servicing
Agreement referred to below, the "Master Servicer") and WELLS FARGO BANK, N.A.
(together with any successor in interest or any successor appointed hereunder,
the "Custodian").

                          W I T N E S S E T H   T H A T
                          -------------------   -------

            WHEREAS, the Depositor, the Master Servicer, and the Trustee, have
entered into a Pooling and Servicing Agreement dated as of May 30, 2007
relating to the issuance of Mortgage Pass-Through Certificates, 2007-7 (as
amended and supplemented from time to time, the "Pooling and Servicing
Agreement"); and

            WHEREAS, the Custodian has agreed to act as agent for the Trustee
for the purposes of receiving and holding certain documents and other
instruments delivered by the Depositor under the Pooling and Servicing
Agreement, all upon the terms and conditions and subject to the limitations
hereinafter set forth;

            NOW, THEREFORE, in consideration of the premises and the mutual
covenants and agreements hereinafter set forth, the Trustee, the Depositor, the
Master Servicer and the Custodian hereby agree as follows:

                                    ARTICLE I

                                   Definitions

            Capitalized terms used in this Agreement and not defined herein
shall have the meanings assigned in the Pooling and Servicing Agreement, unless
otherwise required by the context herein.

                                   ARTICLE II

                          Custody of Mortgage Documents

            Section 2.1. Custodian to Act as Agent; Acceptance of Custodial
Files. Subject to Section 2.3 hereof, the Custodian, as the duly appointed agent
of the Trustee for these purposes, declares that it holds and will hold the
documents delivered to it pursuant to Section 2.01 of the Pooling and Servicing
Agreement and any other documents constituting part of the Owner Mortgage Loan
File or Retained Mortgage Loan File received on or subsequent to the date hereof
(the "Custodial Files") as agent for the Trustee, in trust, for the use and
benefit of all present and future Certificateholders. The Depositor shall give
written notice to the Custodian within 10 business days of the occurrence of a
Document Transfer Event.

            Section 2.2. Recordation of Assignments. Unless an assignment of a
Mortgage is not required to be recorded in accordance with Section 2.01 of the
Pooling and Servicing Agreement, if any Custodial File includes one or more
assignments to the Trustee of Mortgage Notes that have not been recorded, each
such assignment shall be delivered by the Custodian to the Depositor for the
purpose of recording it in the appropriate public office for real property
records, and the Depositor, at no expense to the Custodian, shall promptly cause
to be recorded in the appropriate public office for real property records each
such assignment and, upon receipt thereof from such public office, shall return
each such assignment to the Custodian.

            Section 2.3. Review of Custodial Files. The Custodian agrees, for
the benefit of Certificateholders, to review, in accordance with the provisions
of Section 2.02 of the Pooling and Servicing Agreement, each Custodial File and
to provide the initial and final certifications in the forms of Exhibits N and O
to the Pooling and Servicing Agreement in accordance with the provisions
thereof. If in performing the review required by this Section 2.3 the Custodian
finds any document or documents constituting a part of a Custodial File to be
missing or defective, the Custodian shall follow the procedures specified in the
Pooling and Servicing Agreement.

            Section 2.4. Notification of Breaches of Representations and
Warranties. Upon discovery by the Custodian of a breach of any representation or
warranty made by the Depositor or the Master Servicer as set forth in the
Pooling and Servicing Agreement, the Custodian shall follow the procedures
specified in the Pooling and Servicing Agreement.

            Section 2.5. Custodian to Cooperate; Release of Custodial Files.
Upon the payment in full of any Mortgage Loan, or the receipt by the Master
Servicer of a notification that payment in full will be escrowed in a manner
customary for such purposes, the Master Servicer or applicable Servicer shall
immediately deliver to the Custodian two copies of a Request for Release or such
request in an electronic format acceptable to the Custodian and shall request
delivery to it of the Custodial File. The Custodian agrees, within five business
days of receipt of such Request for Release, to release the related Custodial
File to the Master Servicer or applicable Servicer.

            From time to time as is appropriate for the servicing or foreclosure
of any Mortgage Loan, the Master Servicer or applicable Servicer shall deliver
to the Custodian two copies of a Request for Release of a Servicing Officer
requesting that possession of the Custodial File be released to the Servicer or
Master Servicer and certifying as to the reason for such release. Upon receipt
of the foregoing, the Custodian shall deliver the Custodial File to the Master
Servicer or applicable Servicer. The Master Servicer or applicable Servicer
shall cause each Custodial File therein so released to be returned to the
Custodian when the need therefor by the Master Servicer or applicable Servicer
no longer exists, unless (i) the Mortgage Loan has been liquidated and the
Liquidation Proceeds relating to the Mortgage Loan have been deposited in the
Certificate Account to the extent required by the Pooling and Servicing
Agreement or (ii) the Custodial File or such document 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. In
the event of the liquidation of a Mortgage Loan, the Master Servicer or
applicable Servicer shall deliver two copies of a Request for Release with
respect thereto to the Custodian upon deposit of the related Liquidation
Proceeds in the Certificate Account to the extent required by the Pooling and
Servicing Agreement.

            The Custodian shall maintain records (i) identifying all requests
made by Servicers or the Master Servicer (other than requests relating to
Custodial Files already released by the Custodian) for the release by the
Custodian of Custodial Files with respect to the Mortgage Loans and (ii) all
Custodial Files released by the Custodian.

            Section 2.6. Assumption Agreements. In the event that any assumption
agreement or substitution of liability agreement is entered into with respect to
any Mortgage Loan subject to this Agreement in accordance with the terms and
provisions of the Pooling and Servicing Agreement, the Master Servicer shall
notify the Custodian that such assumption or substitution agreement has been
completed by forwarding to the Custodian the original of such assumption or
substitution agreement, which copy shall be added to the related Custodial File
and, for all purposes, shall be considered a part of such Custodial File to the
same extent as all other documents and instruments constituting parts thereof.

                                   ARTICLE III

                            Concerning the Custodian

            Section 3.1. Custodian a Bailee and Agent of the Trustee. With
respect to each Mortgage Note, Mortgage and other documents constituting each
Custodial File which are delivered to the Custodian, the Custodian is
exclusively the bailee and agent of the Trustee, holds such documents for the
benefit of Certificateholders and undertakes to perform such duties and only
such duties as are specifically set forth in this Agreement and in the Pooling
and Servicing Agreement. All provisions of the Pooling and Servicing Agreement
setting forth duties of the Custodian in more detail are hereby incorporated by
reference into this Agreement. Except upon compliance with the provisions of
Section 2.5 of this Agreement and the provisions of the Pooling and Servicing
Agreement, no Mortgage Note or other document constituting a part of a Custodial
File shall be delivered by the Custodian to the Depositor or the Master Servicer
or otherwise released from the possession of the Custodian.

            Section 3.2. Indemnification. The Depositor hereby agrees to
indemnify and hold the Custodian harmless from and against all claims,
liabilities, losses, actions, suits or proceedings at law or in equity, or any
other expenses, fees or charges of any character or nature, which the Custodian
may incur or with which the Custodian may be threatened by reasons of its acting
as custodian under this Agreement, including indemnification of the Custodian
against any and all expenses, including attorney's fees if counsel for the
Custodian has been approved by the Depositor, and the cost of defending any
action, suit or proceedings or resisting any claim. Notwithstanding the
foregoing, it is specifically understood and agreed that in the event any such
claim, liability, loss, action, suit or proceeding or other expense, fees, or
charge shall have been caused by reason of any negligent act, negligent failure
to act, or willful misconduct on the part of the Custodian, or which shall
constitute a willful breach of its duties hereunder, the indemnification
provisions of this Agreement shall not apply.

            Section 3.3. Custodian May Own Certificates. The Custodian in its
individual or any other capacity may become the owner or pledgee of Certificates
with the same rights it would have if it were not Custodian.

            Section 3.4. Master Servicer to Pay Custodian's Fees and Expenses.
The Master Servicer covenants and agrees to pay to the Custodian from time to
time, and the Custodian shall be entitled to, reasonable compensation for all
services rendered by it in the exercise and performance of any of the powers and
duties hereunder of the Custodian, and the Master Servicer will pay or reimburse
the Custodian upon its request for all reasonable expenses, disbursements and
advances incurred or made by the Custodian in accordance with any of the
provisions of this Agreement (including the reasonable compensation and the
expenses and disbursements of its counsel and of all persons not regularly in
its employ), except any such expense, disbursement or advance as may arise from
its negligence or bad faith. The Master Servicer's obligations regarding
payments due to the Custodian pursuant to this Section 3.4 shall survive the
termination of this Agreement with respect to any fees and expenses due
hereunder.

            Section 3.5. Custodian May Resign; Trustee May Remove Custodian. The
Custodian, upon 30 days written notice to the Depositor, the Master Servicer and
the Trustee, may resign from the obligations and duties hereby imposed upon it
as such obligations and duties relate to its acting as Custodian of the Mortgage
Loans. Upon receiving such notice of resignation, the Trustee shall either take
custody of the Custodial Files itself and give prompt notice thereof to the
Depositor, the Master Servicer and the Custodian or promptly appoint a successor
Custodian by written instrument, in duplicate, one copy of which instrument
shall be delivered to the resigning Custodian and one copy to the successor
Custodian. If the Trustee shall not have taken custody of the Custodial Files
and no successor Custodian shall have been so appointed and have accepted
resignation, the resigning Custodian may petition any court of competent
jurisdiction for the appointment of a successor Custodian.

            The Trustee, upon 60 days written notice to the Depositor, the
Master Servicer and the Custodian, may remove the Custodian. In such event, the
Trustee shall appoint, or petition a court of competent jurisdiction to appoint,
a successor Custodian hereunder. Any successor Custodian shall be a depository
institution subject to supervision or examination by federal or state authority
and shall be able to satisfy the other requirements contained in Section 3.7.

            Any resignation or removal of the Custodian and appointment of a
successor Custodian pursuant to any of the provisions of this Section 3.5 shall
become effective upon acceptance of appointment by the successor Custodian. The
Trustee shall give prompt notice to the Depositor and the Master Servicer of the
appointment of any successor Custodian. No successor Custodian shall have been
appointed and accepted appointment by the Trustee without the prior approval of
the Depositor and the Master Servicer.

            Section 3.6. Merger or Consolidation of Custodian. Any Person into
which the Custodian may be merged or converted or with which it may be
consolidated, or any Person resulting from any merger, conversion or
consolidation to which the Custodian shall be a party, or any Person succeeding
to the business of the Custodian, shall be the successor of the Custodian
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.

            The Custodian and such successor or surviving Person shall notify
the Depositor, the Master Servicer and the Trustee of any such merger,
conversion or consolidation at least two Business Days prior to the effective
date thereof and shall provide the Depositor and the Master Servicer with all
information required by the Depositor to comply with its reporting obligations
not later than the effective date of such merger, conversion or consolidation
(unless giving prior notice would be prohibited by applicable law or by a
confidentiality agreement, in which case notice shall be given by 12 noon
eastern time one Business Day after such merger or consolidation).

            Section 3.7. Representations of the Custodian. The Custodian hereby
represents that it is a depository institution subject to supervision or
examination by a federal or state authority, has a combined capital and surplus
of at least $10,000,000 and is qualified to do business in the jurisdiction in
which it will hold any Custodial File.

            Section 3.8. Limitations on the Responsibilities of the Custodian.

            (a) Neither the Custodian nor any of its Affiliates, directors,
officers, agents, counsel, attorneys-in-fact, and employees shall be liable for
any action or omission to act hereunder except for its own or such person's
gross negligence or willful misconduct. Notwithstanding the foregoing sentence,
in no event shall the Custodian or its Affiliates, directors, officers, agents,
counsel, attorneys-in-fact, and employees be held liable for any special,
indirect, punitive or consequential damages resulting from any action taken or
omitted to be taken by it or them hereunder or in connection herewith even if
advised of the possibility of such damages. The provisions of this Section 3.8
shall survive the resignation or removal of the Custodian and the termination of
this Agreement.

            (b) The Custodian shall not be responsible for preparing or filing
any reports or returns relating to federal, state or local income taxes with
respect to this Agreement, other than for the Custodian's compensation or for
reimbursement of expenses.

            (c) The Custodian shall not be responsible or liable for, and makes
no representation or warranty with respect to, the validity, adequacy or
perfection of any lien upon or security interest in any Mortgage File.

            (d) The Custodian shall not be responsible for delays or failures in
performance resulting from acts beyond its control. Such acts shall include, but
not be limited to, acts of God, strikes, lockouts, riots, acts of war or
terrorism, epidemics, nationalization, expropriation, currency restrictions,
governmental regulations superimposed after the fact, fire, communication line
failures, computer viruses, power failures, earthquakes or other disasters.

            (e) The duties and obligations of the Custodian shall only be such
as are expressly set forth in this Agreement and the Pooling and Servicing
Agreement or as set forth in a written amendment to this Agreement or the
Pooling and Servicing Agreement executed by the parties hereto or their
successors and assigns. In the event that any provision of this Agreement
implies or requires that action or forbearance be taken by a party, but is
silent as to which party has the duty to act or refrain from acting, the parties
agree that the Custodian shall not be the party required to take the action or
refrain from acting. In no event shall the Custodian have any responsibility to
ascertain or take action except as expressly provided herein.

            (f) Nothing in this Agreement shall be deemed to impose on the
Custodian any duty to qualify to do business in any jurisdiction, other than (i)
any jurisdiction where any Mortgage File is or may be held by the Custodian from
time to time hereunder, and (ii) any jurisdiction where its ownership of
property or conduct of business requires such qualification and where failure to
qualify could have a material adverse effect on the Custodian or its property or
business or on the ability of the Custodian to perform it duties hereunder.

            (g) The Custodian shall have no duty to ascertain whether or not any
cash amount or payment has been received by the Trustee, the Depositor, the
Master Servicer, or any third person.

                                   ARTICLE IV

           Documents and Notices Required to be Delivered by Custodian

            Section 4.1 Assessment of Servicing Compliance; Registered Public
Accounting Firm Attestation Reports; Exchange Act Reporting. (a) The Custodian
shall furnish, or cause to be furnished in the case of clause (iii), to the
Master Servicer, no later than March 5 of each year or if such day is not a
Business Day, the next Business Day (with a 10 calendar day cure period, but in
no event later than March 15), commencing in March 2008, the following:

            (i) a report (in form and substance reasonably satisfactory to the
      Master Servicer and the Depositor) regarding the Custodian's assessment
      of compliance with the Servicing Criteria applicable to it during the
      immediately preceding calendar year, as required under Rules 13a-18 and
      15d-18 of the Exchange Act and Item 1122 of Regulation AB. Such report
      shall be addressed to the Master Servicer and signed by an authorized
      officer of the Custodian, and shall address, at a minimum, each of the
      Servicing Criteria applicable to the Custodian, as specified in the table
      in Exhibit R to the Pooling and Servicing Agreement;

            (ii) a report of a registered public accounting firm reasonably
      acceptable to the Master Servicer and the Depositor that attests to, and
      reports on, the assessment of compliance made by the Custodian and
      delivered pursuant to the preceding paragraph. Such attestation shall be
      in accordance with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under
      the Securities Act and the Exchange Act. If requested by the Master
      Servicer or the Depositor, such report shall contain or be accompanied by
      a consent of such accounting firm to inclusion or incorporation of such
      report in the Depositor's Registration Statement on Form S-3 relating to
      the Certificates and the Trust's Form 10-K; and

            (iii) an assessment of compliance and accountants' attestation as
      described in paragraphs (i) and (ii) of this Section 4.1(a) with respect
      to each Subcontractor determined by the Custodian pursuant to Section 4.2
      to be "participating in the servicing function" within the meaning of
      Item 1122 of Regulation AB.

            An assessment of compliance provided by a Subcontractor pursuant to
Section 4.1(a)(iii) need not address any elements of the Servicing Criteria
applicable to it other than those specified by the Custodian pursuant to
Section 4.2.

            No later than 30 days following the end of each fiscal year for the
Trust for which a Form 10-K is required to be filed, the Custodian shall
forward to the Master Servicer the name of each Subcontractor engaged by it and
what Relevant Servicing Criteria will be addressed in the report on assessment
of compliance prepared by such Subcontractor. When the Custodian submits its
assessment to the Master Servicer, it will also at such time include the
assessment (and attestation pursuant to Section 4.1(a)(ii) hereof) of each
Subcontractor engaged by it.

            (b) Within five (5) calendar days after a Distribution Date, the
Custodian shall provide to the Master Servicer, to the extent known, in
EDGAR-compatible format, or in such other form as otherwise agreed upon by the
Master Servicer and the Custodian, the form and substance of any Additional Form
10-D Disclosure applicable to the Custodian, as indicated in the table in
Exhibit S to the Pooling and Servicing Agreement. The Custodian acknowledges
that the performance by the Master Servicer of its duties under Section 3.12(a)
of the Pooling and Servicing Agreement relating to the timely preparation and
filing of Form 10-D is contingent upon the Custodian strictly observing all
applicable deadlines in the performance of its duties under this Section 4.1(b).

            (c) No later than March 5 (with a 10 calendar day cure period, but
in no event later than March 15) of each year that the Trust is subject to the
Exchange Act reporting requirements, commencing in March 2008, the Custodian
shall provide to the Master Servicer, to the extent known, in EDGAR-compatible
format, or in such other form as otherwise agreed upon by the Master Servicer
and the Custodian, the form and substance of any Additional Form 10-K Disclosure
applicable to the Custodian, as indicated in the table in Exhibit T to the
Pooling and Servicing Agreement. The Custodian acknowledges that the performance
by the Master Servicer of its duties under Section 3.12(b) of the Pooling and
Servicing Agreement relating to the timely preparation and filing of Form 10-K
is contingent upon the Custodian strictly observing all applicable deadlines in
the performance of its duties under this Section 4.1(c).

            (d) For so long as the Trust is subject to the Exchange Act
reporting requirements, no later than the end of business on the second Business
Day after the occurrence of a Reportable Event applicable to the Custodian, the
Custodian shall provide to the Master Servicer, to the extent known, in
EDGAR-compatible format, or in such other form as otherwise agreed upon by the
Master Servicer and the Custodian, the form and substance of any Form 8-K
Disclosure Information applicable to the Custodian, as indicated in the table in
Exhibit U to the Pooling and Servicing Agreement. The Custodian acknowledges
that the performance by the Master Servicer of its duties under Section 3.12(c)
of the Pooling and Servicing Agreement relating to the timely preparation and
filing of Form 8-K is contingent upon the Custodian strictly observing all
applicable deadlines in the performance of its duties under this Section 4.1(d).

            (e) The Custodian shall indemnify the Master Servicer, each
affiliate of the Master Servicer, the Trust, each broker dealer acting as
underwriter or initial purchaser of the Certificates, each Person who controls
any of such parties and the Depositor (within the meaning of Section 15 of the
Securities Act and Section 20 of the Exchange Act); and the respective present
and former directors, officers, employees and agents of each of the foregoing
and of the Depositor (each such entity, an "Indemnified Party"), and shall hold
each of them harmless from and against any losses, damages, penalties, fines,
forfeitures, legal fees and expenses and related costs, judgments, and any other
costs, fees and expenses that any of them may sustain arising out of or based
upon:

                  (i) (A) any untrue statement of a material fact contained or
            alleged to be contained in any information, report, certification,
            accountants' letter or other material provided in written or
            electronic form under this Section 4.1 or Section 4.2 hereof by or
            on behalf of the Custodian, or provided under Sections 4.1 or 4.2 by
            or on behalf of any Subcontractor (collectively, the "Custodian
            Information"), or (B) the omission or alleged omission to state in
            the Custodian Information a material fact required to be stated in
            the Custodian Information or necessary in order to make the
            statements therein, in the light of the circumstances under which
            they were made, not misleading; provided, by way of clarification,
            that clause (B) of this paragraph shall be construed solely by
            reference to the Custodian Information and not to any other
            information communicated in connection with a sale or purchase of
            securities, without regard to whether the Custodian Information or
            any portion thereof is presented together with or separately from
            such other information; or

                  (ii) any failure by the Custodian or any Subcontractor engaged
            by the Custodian to deliver any information, report, certification,
            accountants' letter or other material when and as required under
            Sections 4.1 or 4.2, including any failure by the Custodian to
            identify pursuant to Section 4.2 any Subcontractor "participating in
            the servicing function" within the meaning of Item 1122 of
            Regulation AB.

      In the case of any failure of performance described in clause (ii) of this
Section, the Custodian shall promptly reimburse the Master Servicer and the
Depositor, as applicable, for all costs reasonably incurred by each such party
in order to obtain the information, report, certification, accountants' letter
or other material not delivered as required by the Custodian or any
Subcontractor. If the indemnification provided for herein is unavailable to hold
harmless any Indemnified Party, then the Custodian agrees that it shall
contribute to the amount paid or payable by such Indemnified Party as a result
of the losses, claims, damages or liabilities of such Indemnified Party in such
proportion as is appropriate to reflect the relative fault of such Indemnified
Party on the one hand and the Custodian on the other in connection with a breach
of the Custodian's obligations under this Section 4.1 or the Custodian's
negligence, bad faith or willful misconduct in connection therewith.

            4.2 Engagement of Affiliates or Third-Parties. The Custodian shall
not hire or otherwise utilize the services of any Subcontractor to fulfill any
of the obligations of the Custodian as servicer under this Agreement unless the
Custodian complies with the provisions of this Section.

            It shall not be necessary for the Custodian to seek the consent of
the Master Servicer or the Depositor to the utilization of any Subcontractor.
The Custodian shall promptly upon request provide to the Master Servicer (or any
designee of Master Servicer) a written description (in form and substance
satisfactory to the Master Servicer and the Depositor) of the role and function
of each Subcontractor utilized by the Custodian, specifying (i) the identity of
each such Subcontractor, (ii) which (if any) of such Subcontractors are
"participating in the servicing function" within the meaning of Item 1122 of
Regulation AB, and (iii) which elements of the Servicing Criteria will be
addressed in assessments of compliance provided by each Subcontractor identified
pursuant to clause (ii) of this paragraph.

            As a condition to the utilization of any Subcontractor determined to
be "participating in the servicing function" within the meaning of Item 1122 of
Regulation AB, the Custodian shall cause any such Subcontractor used by the
Custodian, for the benefit of the Master Servicer and the Depositor to comply
with the provisions of Section 4.1 of this Agreement to the same extent as if
such Subcontractor were the Custodian. The Custodian shall be responsible for
obtaining from each Subcontractor and delivering to the Master Servicer any
assessment of compliance and attestation required to be delivered by such
Subcontractor under Section 4.1, in each case as and when required to be
delivered.

            4.3 Errors and Omissions Policy. The Custodian shall maintain, at
all times and at its own expense, an insurance policy covering losses caused by
errors or omissions of the Custodian and its personnel (such policy, an "Errors
and Omissions Policy"), which policy shall have such terms and coverage amounts
as are comparable to those of errors and omissions policies maintained by
custodians of mortgage loans generally.

            The Errors and Omissions Policy shall insure the Custodian, its
successors and assigns, against any losses resulting from negligence, errors or
omissions on the part of officers, employees or other persons acting on behalf
of the Custodian in the performance of its duties as Custodian pursuant to this
Agreement.

            The Custodian shall maintain in effect the Errors and Omissions
Policy at all times and the Errors and Omissions Policy may not be canceled,
permitted to lapse or otherwise terminated without the acquisition of
comparable coverage by the Custodian.

            4.4 Compliance with Article IV. If (a) the Custodian fails to comply
with its obligations to deliver any assessment of servicing compliance or
registered public accounting firm attestation reports required pursuant to this
Article IV or (b) any Subcontractor engaged by the Custodian fails to comply
with its obligations to deliver any assessment of servicing compliance or
registered public accounting firm attestation reports, the Master Servicer, may,
after consultation with the Depositor, remove the Custodian and appoint a
successor custodian by written instrument, in duplicate, one copy of which
instrument shall be delivered to the Custodian so removed and one copy to the
successor custodian.

                                    ARTICLE V

                            Miscellaneous Provisions

            Section 5.1. Notices. All notices, requests, consents and demands
and other communications required under this Agreement, or pursuant to any other
instrument or document delivered hereunder shall be in writing and, unless
otherwise specifically provided, may be delivered personally, by telegram or
telex, or by registered or certified mail, postage prepaid, return receipt
requested, at the addresses specified on the signature page hereof (unless
changed by the particular party whose address is stated herein by similar notice
in writing), in which case the notice will be deemed delivered when received.

            Section 5.2. Amendments. No modification or amendment of or
supplement to this Agreement shall be valid or effective unless the same is in
writing and signed by all parties hereto, and neither the Depositor, the Master
Servicer nor the Trustee shall enter into any amendment hereof except as
permitted by the Pooling and Servicing Agreement. The Trustee shall give prompt
written notice to the Custodian of any amendment or supplement to the Pooling
and Servicing Agreement and furnish the Custodian with written copies thereof.

            Section 5.3. Governing Law. This Agreement shall be deemed a
contract made under the laws of the State of New York and shall be construed and
enforced in accordance with and governed by the laws of the State of New York.

            Section 5.4. 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 or all of the properties subject to the Mortgages are
situated, and in any other appropriate public recording office or elsewhere,
such recordation to be effected by the Master Servicer and at its expense on
direction by the Trustee, but only upon direction accompanied by an Opinion of
Counsel to the effect that such recordation materially and beneficially affects
the interests of the Certificateholders.

            For the purpose of facilitating the recordation of this Agreement as
herein provided and for other purposes, this Agreement may be executed
simultaneously in any number of counterparts, each of which counterparts shall
be deemed to be an original, and such counterparts shall constitute but one and
the same instrument.

            Section 5.5. Severability of Provisions. If any one or more of the
covenants, agreements, provisions or terms of this Agreement shall be for any
reason whatsoever held invalid, then such covenants, agreements, provisions or
terms shall be deemed severable from the remaining covenants, agreements,
provisions or terms of this Agreement and shall in no way affect the validity or
enforceability of the other provisions of this Agreement or of the Certificates
or the rights of the holders thereof.

            Section 5.6. Regulation AB Compliance; Intent of Parties;
Reasonableness. The parties hereto acknowledge that interpretations of the
requirements of Regulation AB may change over time, whether due to interpretive
guidance provided by the Commission or its staff, consensus among participants
in the asset-backed securities markets, advice of counsel, or otherwise, and
agree to comply with requests made by the Depositor or the Master Servicer in
good faith for delivery of information under these provisions on the basis of
evolving interpretations of Regulation AB. In connection with the Trust, the
parties hereto shall cooperate fully with the Master Servicer and the Depositor
to deliver to the Master Servicer and/or the Depositor (including its assignees
or designees), any and all statements, reports, certifications, records and any
other information available to such party and reasonably necessary in the good
faith determination of the Depositor or the Master Servicer to permit the
Depositor or the Master Servicer to comply with the provisions of Regulation AB,
together with such disclosures reasonably believed by the Depositor or the
Master Servicer to be necessary in order to effect such compliance.

<PAGE>

            IN WITNESS WHEREOF, this Agreement is executed as of the date first
above written.

Address:                          HSBC BANK USA, NATIONAL ASSOCIATION,
452 Fifth Avenue                     as Trustee
New York, New York 10018          By:
                                     -----------------------------
                                  Name:  Fernando Acebedo
                                  Title: Vice President

Address:                          WELLS FARGO ASSET SECURITIES
                                     CORPORATION, as Depositor
7430 New Technology Way           By:
Frederick, Maryland 21703            -----------------------------
                                  Name:  Bradley A. Davis
                                  Title: Vice President

Address:                          WELLS FARGO BANK, N.A.,
9062 Old Annapolis Road              as Master Servicer
Columbia, Maryland 21045          By:
                                     -----------------------------
                                  Name:
                                  Title:

Address:                          WELLS FARGO BANK, N.A.,
1015 10th Avenue South East          as Custodian
Minneapolis, Minnesota 55414      By:
                                     -----------------------------
                                     Name:  Mary B. Hogan
                                     Title: Vice President

<PAGE>

STATE OF MARYLAND       )
                        ss.:
COUNTY OF FREDERICK     )

            On this 30th day of May, 2007, before me, a notary public in and
for the State of Maryland, personally appeared Bradley A. Davis, known to me
who, being by me duly sworn, did depose and say that he resides at Cooksville,
Maryland; that he is a Vice President of Wells Fargo Asset Securities
Corporation, a Delaware corporation, one of the parties that executed the
foregoing instrument; and that he signed his name thereto by order of the Board
of Directors of said corporation.

-------------------------
Notary Public

[NOTARIAL SEAL]

<PAGE>

STATE OF MARYLAND       )
                        ss.:
COUNTY OF               )

            On this 30th day of May, 2007, before me, a notary public in and
for the State of Maryland, personally appeared Amy Doyle, known to me who,
being by me duly sworn, did depose and say that she is a Vice President of
Wells Fargo Bank, N.A., a national banking association, one of the parties that
executed the foregoing instrument; and that she signed her name thereto by
order of the Board of Directors of said association.

-------------------------
Notary Public

[NOTARIAL SEAL]

<PAGE>

STATE OF NEW YORK       )
                        ss.:
COUNTY OF NEW YORK      )

            On this 30th day of May, 2007, before me, a notary public in and
for the State of New York, personally appeared Fernando Acebedo, known to me
who, being by me duly sworn, did depose and say that he resides in Huntington,
New York; that he is a Vice President of HSBC Bank USA, National Association, a
national banking association, one of the parties that executed the foregoing
instrument; and that he signed his name thereto by order of the Board of
Directors of said association.

-------------------------
Notary Public

[NOTARIAL SEAL]

<PAGE>

STATE OF MINNESOTA      )
                        ss.:
COUNTY OF HENNEPIN      )

            On this 30th day of May, 2007, before me, a notary public in and for
the State of Minnesota, personally appeared Mary B. Hogan, known to me who,
being by me duly sworn, did depose and say that she is a Vice President of Wells
Fargo Bank, N.A., a national banking association, one of the parties that
executed the foregoing instrument; and that she signed her name thereto by order
of the Board of Directors of said association.

-------------------------
Notary Public

[NOTARIAL SEAL]

<PAGE>

                                    EXHIBIT F

                 Addresses for Requesting Mortgage Loan Schedule

In the case of the Depositor:

Wells Fargo Asset Securities Corporation
7430 New Technology Way
Frederick, Maryland 21703
Attention: Vice President - Structured Finance

In the case of the Master Servicer:

Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, Maryland 21045-1951
Attention: Corporate Trust Services - WFMBS 2007-7

<PAGE>

                                    EXHIBIT G

                        REQUEST FOR RELEASE OF DOCUMENTS

To:   Wells Fargo Bank, N.A.
      1015 10th Avenue S.E.
      Minneapolis., MN 55414
      Attn: ________________

      Re:   Custodial Agreement, dated as of May 30, 2007, among HSBC Bank USA,
            National Association, as Trustee, Wells Fargo Asset Securities
            Corporation, as Depositor, Wells Fargo Bank, N.A., as Master
            Servicer, and Wells Fargo Bank, N.A., as Custodian, relating to the
            Wells Fargo Asset Securities Corporation; Mortgage Pass-Through
            Certificates, Series 2007-7.

            In connection with the administration of the Mortgage Loans held by
you as Custodian for the Trust Estate pursuant to the above-captioned Custodial
Agreement, we request the release, and hereby acknowledge receipt, of the
Custodian's Owner Mortgage Loan File for the Mortgage Loan described below, for
the reason indicated.

                              Mortgage Loan Number:

                       Mortgagor Name, Address & Zip Code:

            Reason for Requesting Documents (check one):

            ____________      1.    Mortgage Paid in Full

            ____________      2.    Foreclosure

            ____________      3.    Substitution

            ____________      4.    Other Liquidation (Repurchases, etc.)

            ____________      5.    Nonliquidation

            Reason:_____________________________________

            By:_________________________________________
                 (authorized signer)

            Issuer:_____________________________________

            Address:____________________________________

            Date:_______________________________________

                                    Custodian

Wells Fargo Bank, N.A.

            Please acknowledge the execution of the above request by your
signature and date below:

------------------------------------            -----------------
Signature                                       Date

Documents returned to Custodian:

------------------------------------            -----------------
Custodian                                       Date

<PAGE>

                                    EXHIBIT H

                                              AFFIDAVIT PURSUANT TO SECTION
                                              860E(e)(4) OF THE INTERNAL REVENUE
                                              CODE OF 1986, AS AMENDED, AND FOR
                                              NON-ERISA INVESTORS

STATE OF                )
                        )  ss.:
COUNTY OF               )

            [NAME OF OFFICER], being first duly sworn, deposes and says:

            1. That he is [Title of Officer] of [Name of Purchaser] (the
"Purchaser"), a [description of type of entity] duly organized and existing
under the laws of the [State of ______ ] [United States], on behalf of which he
makes this affidavit.

            2. That the Purchaser's Taxpayer Identification Number is
[_____________].

            3. That the Purchaser is not a "disqualified organization" within
the meaning of Section 860E(e)(5),of the Internal Revenue Code of 1986, as
amended (the "Code"), or an ERISA Prohibited Holder, and will not be a
"disqualified organization" or an ERISA Prohibited Holder, as of [date of
transfer], and that the Purchaser is not acquiring Wells Fargo Asset Securities
Corporation Mortgage Pass-Through Certificates, Series 2007-7, Class A-R
Certificate (the "Residual Certificate") for the account of, or as agent
(including a broker, nominee, or other middleman) for, any person or entity from
which it has not received an affidavit substantially in the form of this
affidavit. For these purposes, a "disqualified organization" means the United
States, any state or political subdivision thereof, any foreign government, any
international organization, any agency or instrumentality of any of the
foregoing (other than an instrumentality if all of its activities are subject to
tax and a majority of its board of directors is not selected by such
governmental entity), any cooperative organization furnishing electric energy or
providing telephone service to persons in rural areas as described in Code
Section 1381(a)(2)(C), or any organization (other than a farmers' cooperative
described in Code Section 521) that is exempt from taxation under the Code
unless such organization is subject to the tax on unrelated business income
imposed by Code Section 511. For these purposes, an "ERISA Prohibited Holder"
means an employee benefit plan or other retirement arrangement subject to Title
I of the Employee Retirement Income Security Act of 1974, as amended ("ERISA"),
or Code Section 4975 or a governmental plan, as defined in Section 3(32) of
ERISA, subject to any federal, state or local law which is, to a material
extent, similar to the foregoing provisions of ERISA or the Code (collectively,
a "Plan") or a Person acting on behalf of or investing the assets of such a
Plan.

            4. That the Purchaser historically has paid its debts as they have
come due and intends to pay its debts as they come due in the future and the
Purchaser intends to pay taxes associated with holding the Residual Certificate
as they become due.

            5. That the Purchaser understands that it may incur tax liabilities
with respect to the Residual Certificate in excess of cash flows generated by
the Residual Certificate.

            6. That the Purchaser will not transfer the Residual Certificate to
any person or entity from which the Purchaser has not received an affidavit
substantially in the form of this affidavit and as to which the Purchaser has
actual knowledge that the requirements set forth in paragraph 3, 4 or 10 hereof
are not satisfied or that the Purchaser has reason to know does not satisfy the
requirements set forth in paragraph 4 hereof.

            7. That the Purchaser is aware that the Residual Certificate may be
a "noneconomic residual interest" within the meaning of Treasury regulations
promulgated pursuant to the Code and that the transferor of a noneconomic
residual interest will remain liable for any taxes due with respect to the
income on such residual interest, unless no significant purpose of the transfer
was to impede the assessment or collection of tax.

            8. That the Purchaser will not cause income from the Residual
Certificate to be attributable to a foreign permanent establishment or fixed
base, within the meaning of an applicable income tax treaty, of the Purchaser or
any other person.

            9. That, if the Purchaser is purchasing the Residual Certificate in
a transfer intended to meet the safe harbor provisions of Treasury Regulations
Sections 1.860E-1(c), the Purchaser has completed and attached Attachment A
hereto.

            10. That the Purchaser (i) is a U.S. Person or (ii) is a person
other than a U.S. Person (a "Non-U.S. Person") that holds the Residual
Certificate in connection with the conduct of a trade or business within the
United States and has furnished the transferor and the Trustee with an effective
Internal Revenue Service Form W-8ECI or successor form at the time and in the
manner required by the Code or (iii) is a Non-U.S. Person that has delivered to
both the transferor and the Trustee an opinion of a nationally recognized tax
counsel to the effect that the transfer of the Residual Certificate to it is in
accordance with the requirements of the Code and the regulations promulgated
thereunder and that such transfer of the Residual Certificate will not be
disregarded for federal income tax purposes. "U.S. Person" means a citizen or
resident of the United States, a corporation or partnership (unless, in the case
of a partnership, Treasury regulations are adopted that provide otherwise)
created or organized in or under the laws of the United States, any state
thereof or the District of Columbia, including an entity treated as a
corporation or partnership for federal income tax purposes, an estate whose
income is subject to United States federal income tax regardless of its source,
or a trust if a court within the United States is able to exercise primary
supervision over the administration of such trust, and one or more such U.S.
Persons have the authority to control all substantial decisions of such trust
(or, to the extent provided in applicable Treasury regulations, certain trusts
in existence on August 20, 1996 which are eligible to elect to be treated as
U.S. Persons).

            11. That the Purchaser agrees to such amendments of the Pooling and
Servicing Agreement as may be required to further effectuate the restrictions on
transfer of the Residual Certificate to such a "disqualified organization," an
agent thereof, an ERISA Prohibited Holder or a person that does not satisfy the
requirements of paragraph 4, paragraph 5 and paragraph 10 hereof.

            12. That the Purchaser consents to the designation of the Master
Servicer as its agent to act as "tax matters person" of the REMIC pursuant to
Section 8.13 of the Pooling and Servicing Agreement, and if such designation is
not permitted by the Code and applicable law, to act as tax matters person if
requested to do so.

<PAGE>

            IN WITNESS WHEREOF, the Purchaser has caused this instrument to be
executed on its behalf, pursuant to authority of its Board of Directors, by its
[Title of Officer] this ___ day of __________, 20__.

                                                [NAME OF PURCHASER]

                                        By:____________________________________
                                           [Name of Officer]
                                           [Title of Officer]

            Personally appeared before me the above-named [Name of Officer],
known or proved to me to be the same person who executed the foregoing
instrument and to be the [Title of Officer], of the Purchaser, and acknowledged
to me that he [she] executed the same as his [her] free act and deed and the
free act and deed of the Purchaser.

            Subscribed and sworn before me this __ day of __________, 20__.

Notary Public

COUNTY OF____________________

STATE OF_____________________

My commission expires the __ day of __________, 20__.

<PAGE>

                                  ATTACHMENT A

                                       to

 AFFIDAVIT PURSUANT TO SECTION 860E(e)(4) OF THE INTERNAL REVENUE CODE OF 1986,
                     AS AMENDED, AND FOR NON-ERISA INVESTORS

Check the appropriate box:

|_|   The consideration paid to the Purchaser to acquire the Residual
      Certificate equals or exceeds the excess of (a) the present value of the
      anticipated tax liabilities over (b) the present value of the anticipated
      savings associated with holding such Certificate, in each case calculated
      in accordance with U.S. Treasury Regulations Sections 1.860E-1(c)(7) and
      (8), computing present values using a discount rate equal to the
      short-term Federal rate prescribed by Section 1274(d) of the Code and the
      compounding period used by the Purchaser.

                                       OR

|_|   The transfer of the Residual Certificate complies with U.S. Treasury
      Regulations Sections 1.860E-1(c)(5) and (6) and, accordingly:

      (i)   the Purchaser is an "eligible corporation," as defined in U.S.
            Treasury Regulations Section 1.860E-1(c)(6)(i), as to which income
            from Residual Certificate will only be taxed in the United States;

      (ii)  at the time of the transfer, and at the close of the Purchaser's two
            fiscal years preceding the year of the transfer, the Purchaser had
            gross assets for financial reporting purposes (excluding any
            obligation of a person related to the Purchaser within the meaning
            of U.S. Treasury Regulations Section 1.860E-1(c)(6)(ii)) in excess
            of $100 million and net assets in excess of $10 million;

      (iii) the Purchaser will transfer the Residual Certificate only to another
            "eligible corporation," as defined in U.S. Treasury Regulations
            Section 1.860E-1(c)(6)(i), in a transaction that satisfies the
            requirements of Sections 1.860E-1(c)(4)(i), (ii) and (iii) and
            Section 1.860E-1(c)(5) of the U.S. Treasury Regulations;

      (iv)  the Purchaser has determined the consideration paid to it to acquire
            the Residual Certificate based on reasonable market assumptions
            (including, but not limited to, borrowing and investment rates,
            prepayment and loss assumptions, expense and reinvestment
            assumptions, tax rates and other factors specific to the Purchaser)
            that it has determined in good faith; and

      (v)   in the event of any transfer of the Residual Certificate by the
            Purchaser, the Purchaser will require its transferee to complete a
            representation in the form of this Attachment A as a condition of
            the transferee's purchase of the Residual Certificate.

<PAGE>

                                    EXHIBIT I

                 Letter from Transferor of Residual Certificate

                                     [Date]

Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, Maryland 21045-1951
Attn: Corporate Trust Services- WFMBS 2007-7

      Re:   Wells Fargo Asset Securities Corporation,
            Series 2007-7, Class A-R

Ladies and Gentlemen:

            [Transferor] has reviewed the attached affidavit of [Transferee],
and has no actual knowledge that such affidavit is not true and has no reason
to know that the information contained in paragraph 4 thereof is not true.

                       Very truly yours,

                       [Transferor]

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

<PAGE>

                                    EXHIBIT J

                    WELLS FARGO ASSET SECURITIES CORPORATION

                       MORTGAGE PASS-THROUGH CERTIFICATES
                                  SERIES 2007-7
                       CLASS [B-4][B-5][B-6] CERTIFICATES

                               TRANSFEREE'S LETTER

                                                      _________________ __, ____

Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, Maryland 21045-1951
Attn: Corporate Trust Services WFMBS 2007-7

Wells Fargo Asset Securities Corporation
7430 New Technology Way
Frederick, Maryland 21703

            The undersigned (the "Purchaser") proposes to purchase Wells Fargo
Asset Securities Corporation Mortgage Pass-Through Certificates, Series 2007-7,
Class [B-4][B-5][B-6] Certificates (the "Class [B-4][B-5][B-6] Certificates") in
the principal amount of $___________. In doing so, the Purchaser hereby
acknowledges and agrees as follows:

            Section 1. Definitions. Each capitalized term used herein and not
otherwise defined herein shall have the meaning ascribed to it in the Pooling
and Servicing Agreement, dated as of May 30, 2007 (the "Pooling and Servicing
Agreement") among Wells Fargo Asset Securities Corporation, as depositor (the
"Depositor"), Wells Fargo Bank, N.A., as master servicer (the "Master Servicer")
and HSBC Bank USA, National Association, as trustee (the "Trustee"), of Wells
Fargo Asset Securities Corporation Mortgage Pass-Through Certificates, Series
2007-7.

            Section 2. Representations and Warranties of the Purchaser. In
connection with the proposed transfer, the Purchaser represents and warrants to
the Depositor, the Master Servicer and the Trustee that:

            (a) The Purchaser is duly organized, validly existing and in good
standing under the laws of the jurisdiction in which the Purchaser is organized,
is authorized to invest in the Class [B-4][B-5][B-6] Certificates, and to enter
into this Agreement, and duly executed and delivered this Agreement.

            (b) The Purchaser is acquiring the Class [B-4][B-5][B-6]
Certificates for its own account as principal and not with a view to the
distribution thereof, in whole or in part.

            [(c) The Purchaser has knowledge of financial and business matters
and is capable of evaluating the merits and risks of an investment in the Class
[B-4][B-5][B-6] Certificates; the Purchaser has sought such accounting, legal
and tax advice as it has considered necessary to make an informed investment
decision; and the Purchaser is able to bear the economic risk of an investment
in the Class [B-4][B-5][B-6] Certificates and can afford a complete loss of such
investment.]

            [(c) The Purchaser is a "Qualified Institutional Buyer" within the
meaning of Rule 144A of the Act.]

            (d) The Purchaser confirms that (a) it has received and reviewed a
copy of the Private Placement Memorandum dated May 25, 2007, relating to the
Class [B-4][B-5][B-6] Certificates and reviewed, to the extent it deemed
appropriate, the documents attached thereto or incorporated by reference
therein, (b) it has had the opportunity to ask questions of, and receive answers
from the Depositor concerning the Class [B-4][B-5][B-6] Certificates and all
matters relating thereto, and obtain any additional information (including
documents) relevant to its decision to purchase the Class [B-4][B-5][B-6]
Certificates that the Depositor possesses or can possess without unreasonable
effort or expense and (c) it has undertaken its own independent analysis of the
investment in the Class [B-4][B-5][B-6] Certificates. The Purchaser will not use
or disclose any information it receives in connection with its purchase of the
Class [B-4][B-5][B-6] Certificates other than in connection with a subsequent
sale of Class [B-4][B-5][B-6] Certificates.

            (e) Either (i) the Purchaser is not an employee benefit plan or
other retirement arrangement subject to Title I of the Employee Retirement
Income Security Act of 1974, as amended, ("ERISA"), or Section 4975 of the
Internal Revenue Code of 1986, as amended (the "Code"), or a governmental plan,
as defined in Section 3(32) of ERISA subject to any federal, state or local law
("Similar Law") which is, to a material extent, similar to the foregoing
provisions of ERISA or the Code (collectively, a "Plan"), an agent acting on
behalf of a Plan, or a person utilizing the assets of a Plan or (ii) if the
Purchaser is an insurance company, (A) the source of funds used to purchase the
Class [B-4][B-5][B-6] Certificate is an "insurance company general account" (as
such term is defined in Section V(e) of Prohibited Transaction Class Exemption
95-60 ("PTE 95-60"), 60 Fed. Reg. 35925 (July 12, 1995), (B) there is no Plan
with respect to which the amount of such general account's reserves and
liabilities for the contract(s) held by or on behalf of such Plan and all other
Plans maintained by the same employer (or affiliate thereof as defined in
Section V(a)(1) of PTE 95-60) or by the same employee organization exceeds 10%
of the total of all reserves and liabilities of such general account (as such
amounts are determined under Section I(a) of PTE 95-60) at the date of
acquisition and (C) the purchase and holding of such Class [B-4][B-5][B-6]
Certificates are covered by Sections I and III of PTE 95-60 or (iii) the
Purchaser has provided (a) a "Benefit Plan Opinion" satisfactory to the
Depositor and the Master Servicer of the Trust Estate and (b) such other
opinions of counsel, officers' certificates and agreements as the Depositor or
the Master Servicer may have required. A Benefit Plan Opinion is an opinion of
counsel to the effect that the proposed transfer will not constitute or result
in a non-exempt prohibited transaction within the meaning of ERISA, Section 4975
of the Code or Similar Law and will not subject the Depositor or the Master
Servicer to any obligation in addition to those undertaken in the Pooling and
Servicing Agreement (including any liability for civil penalties or excise taxes
imposed pursuant to ERISA, Section 4975 of the Code or Similar Law).

            (f) If the Purchaser is a depository institution subject to the
jurisdiction of the Office of the Comptroller of the Currency ("OCC"), the Board
of Governors of the Federal Reserve System ("FRB"), the Federal Deposit
Insurance Corporation ("FDIC"), the Office of Thrift Supervision ("OTS") or the
National Credit Union Administration ("NCUA"), the Purchaser has reviewed the
"Supervisory Policy Statement on Securities Activities" dated January 28, 1992
of the Federal Financial Institutions Examination Council and the April 15, 1994
Interim Revision thereto as adopted by the OCC, FRB, FDIC, OTS and NCUA (with
modifications as applicable), as appropriate, other applicable investment
authority, rules, supervisory policies and guidelines of these agencies and, to
the extent appropriate, state banking authorities and has concluded that its
purchase of the Class [B-4][B-5][B-6] Certificates is in compliance therewith.

            Section 3. Transfer of Class [B-4][B-5][B-6] Certificates.

            (a) The Purchaser understands that the Class [B-4][B-5][B-6]
Certificates have not been registered under the Securities Act of 1933 (the
"Act") or any state securities laws and that no transfer may be made unless the
Class [B-4][B-5][B-6] Certificates are registered under the Act and applicable
state law or unless an exemption from registration is available. The Purchaser
further understands that neither the Depositor nor the Master Servicer is under
any obligation to register the Class [B-4][B-5][B-6] Certificates or make an
exemption available. In the event that such a transfer is to be made in reliance
upon an exemption from the Act or applicable state securities laws, (i) the
Master Servicer shall require, in order to assure compliance with such laws,
that the Certificateholder's prospective transferee certify to the Depositor and
the Master Servicer as to the factual basis for the registration or
qualification exemption relied upon, and (ii) unless the transferee is a
"Qualified Institutional Buyer" within the meaning of Rule 144A of the Act, the
Master Servicer or the Depositor may, if such transfer is made within three
years from the later of (a) the Closing Date or (b) the last date on which the
Depositor or any affiliate thereof was a holder of the Certificates proposed to
be transferred, require an Opinion of Counsel that such transfer may be made
pursuant to an exemption from the Act and state securities laws, which Opinion
of Counsel shall not be an expense of the Master Servicer or the Depositor. Any
such Certificateholder desiring to effect such transfer shall, and does hereby
agree to, indemnify the Trustee, the Master Servicer, any Paying Agent and the
Depositor against any liability that may result if the transfer is not so exempt
or is not made in accordance with such federal and state laws.

            (b) No transfer of a Class [B-4][B-5][B-6] Certificate shall be made
unless the transferee provides the Depositor and the Master Servicer with a
Transferee's Letter, substantially in the form of this Agreement.

            (c) The Purchaser acknowledges that its Class [B-4][B-5][B-6]
Certificates bear a legend setting forth the applicable restrictions on
transfer.

<PAGE>

            IN WITNESS WHEREOF, the undersigned has caused this Agreement to be
validly executed by its duly authorized representative as of the day and the
year first above written.

                               [PURCHASER]

                               By: ______________________________

                               Its: ______________________________

<PAGE>

                                    EXHIBIT K

                           LIST OF RECORDATION STATES

                                     Florida

                                    Maryland

<PAGE>

                                    EXHIBIT L

                              SERVICING AGREEMENTS

     [Included as Exhibit 10.1 to the Current Report on Form 8-K pursuant to

              which this Pooling and Servicing Agreement is filed]

                      Wells Fargo Bank Servicing Agreement

<PAGE>

                                    EXHIBIT M

                      [FORM OF SPECIAL SERVICING AGREEMENT]

                 SPECIAL SERVICING AND COLLATERAL FUND AGREEMENT

      This SPECIAL SERVICING AND COLLATERAL FUND AGREEMENT (the "Agreement") is
made and entered into as of [_____], between Wells Fargo Bank, N.A. (the
"Company" or the "Master Servicer") and [_____] (the "Purchaser").

                              PRELIMINARY STATEMENT

      The Purchaser is the holder of the entire interest in Wells Fargo Asset
Securities Corporation Mortgage Pass-Through Certificates, Series [_____], Class
[_____] (the "Class B Certificates"), which are the Lowest Priority Certificates
(as defined below) outstanding with respect to such Series. The Class B
Certificates were issued pursuant to a Pooling and Servicing Agreement dated as
of [_____] among Wells Fargo Asset Securities Corporation, as depositor (the
"Depositor"), Wells Fargo Bank, N.A., as Master Servicer and HSBC Bank USA,
National Association, as Trustee.

      In connection with the ownership by the Purchaser of the Lowest Priority
Certificates, the Purchaser and the Company have agreed that (i) the Purchaser,
for so long as it owns 100% of the Lowest Priority Certificates, will have the
unilateral right to control foreclosure decisions with respect to delinquent
mortgage loans and (ii) the Company will provide to the Purchaser certain
information with respect to the Mortgage Loans;

      The parties hereto have agreed that the Company will cause, to the extent
that the Company as Master Servicer is granted such authority in the related
Servicing Agreements, the related servicers (each a related "Servicer"), which
service the Mortgage Loans which comprise the Trust Estate related to the above
referenced series under the related servicing agreements (each a related
"Servicing Agreement"), to engage in certain special servicing procedures
relating to foreclosures for the benefit of the Purchaser, and that the
Purchaser will deposit funds in a collateral fund to cover any losses
attributable to such procedures as well as all advances and costs in connection
therewith, as set forth herein.

      In consideration of the mutual agreements herein contained, the receipt
and sufficiency of which are hereby acknowledged, the Company and the Purchaser
agree that the following provisions shall become effective and shall be binding
on and enforceable by the Company and the Purchaser:

<PAGE>

                                    ARTICLE I

                                   DEFINITIONS

            Section 1.02. Defined Terms.

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

      Business Day: Any day other than (i) a Saturday or a Sunday or (ii) a day
on which banking institutions in the State of New York are required or
authorized by law or executive order to be closed.

      Collateral Fund: The fund established and maintained pursuant to Section
3.01 hereof.

      Collateral Fund Permitted Investments: Either (i) obligations of, or
obligations fully guaranteed as to principal and interest by, the United States,
or any agency or instrumentality thereof, provided such obligations are backed
by the full faith and credit of the United States, (ii) a money market fund
rated in the highest rating category by a nationally recognized rating agency
selected by the Company, (iii) cash, (iv) mortgage pass-through certificates
issued or guaranteed by Government National Mortgage Association, FNMA or FHLMC,
(v) commercial paper (including both non-interest-bearing discount obligations
and interest-bearing obligations payable on demand or on a specified date), the
issuer of which may be an affiliate of the Company, having at the time of such
investment a rating of at least F-1 by Fitch Ratings ("Fitch") or at least P-1
by Moody's Investors Service, Inc. ("Moody's") or (vi) demand and time deposits
in, certificates of deposit of, any depository institution or trust company
(which may be an affiliate of the Company) incorporated under the laws of the
United States of America or any state thereof and subject to supervision and
examination by federal and/or state banking authorities, so long as at the time
of such investment either (x) the long-term debt obligations of such depository
institution or trust company have a rating of at least AA by Fitch or Aa2 by
Moody's, (y) the certificate of deposit or other unsecured short-term debt
obligations of such depository institution or trust company have a rating of at
least F-1 by Fitch or P-1 by Moody's or (z) the depository institution or trust
company is one that is acceptable to either Fitch or Moody's and, for each of
the preceding clauses (i), (iv), (v) and (vi), the maturity thereof shall be not
later than the earlier to occur of (A) 30 days from the date of the related
investment and (B) the next succeeding Distribution Date as defined in the
related Pooling and Servicing Agreement.

      Commencement of Foreclosure: The first official action required under
local law in order to commence foreclosure proceedings or to schedule a
trustee's sale under a deed of trust, including (i) in the case of a mortgage,
any filing or service of process necessary to commence an action to foreclose,
or (ii) in the case of a deed of trust, posting, the publishing, filing or
delivery of a notice of sale, but not including in either case (x) any notice of
default, notice of intent to foreclose or sell or any other action prerequisite
to the actions specified in (i) or (ii) above, (y) the acceptance of a
deed-in-lieu of foreclosure (whether in connection with a sale of the related
property or otherwise) or (z) initiation and completion of a short pay-off.

      Current Appraisal: With respect to any Mortgage Loan as to which the
Purchaser has made an Election to Delay Foreclosure, an appraisal of the related
Mortgaged Property obtained by the Purchaser at its own expense from an
independent appraiser (which shall not be an affiliate of the Purchaser)
acceptable to the Company as nearly contemporaneously as practicable to the time
of the Purchaser's election, prepared based on the Company's customary
requirements for such appraisals.

      Election to Delay Foreclosure: Any election by the Purchaser to delay the
Commencement of Foreclosure, made in accordance with Section 2.02(b).

      Election to Foreclose: Any election by the Purchaser to proceed with the
Commencement of Foreclosure, made in accordance with Section 2.03(a).

      Lowest Priority Certificates: The most subordinate class of certificates
issued under the Pooling and Servicing Agreement that is outstanding from time
to time. If the Lowest Priority Certificates are reduced to zero as a result of
losses or otherwise, and if the Purchaser at that time owns 100% of the most
subordinate class of certificates issued under the Pooling and Servicing
Agreement then remaining outstanding, then such most subordinate class remaining
outstanding shall thereafter be deemed to be the Lowest Priority Certificates
for all purposes of this Agreement.

      Monthly Advances: Principal and interest advances and servicing advances
including costs and expenses of foreclosure.

      Required Collateral Fund Balance: As of any date of determination, an
amount equal to the aggregate of all amounts previously required to be deposited
in the Collateral Fund pursuant to Section 2.02(d) (after adjustment for all
withdrawals and deposits pursuant to Section 2.02(e)) and Section 2.03(b) (after
adjustment for all withdrawals and deposits pursuant to Section 2.03(c)) and
Section 3.02 to be reduced by all withdrawals therefrom pursuant to Section
2.02(g) and Section 2.03(d).

            Section 1.03. Definitions Incorporated by Reference.

      All capitalized terms not otherwise defined in this Agreement shall have
the meanings assigned in the Pooling and Servicing Agreement.

<PAGE>

                                   ARTICLE II

                          SPECIAL SERVICING PROCEDURES

            Section 2.01. Reports and Notices.

            (a) In connection with the performance of its duties under the
Pooling and Servicing Agreement relating to the realization upon defaulted
Mortgage Loans, the Company as Master Servicer shall provide to the Purchaser
the following notices and reports:

      Within five Business Days after each Distribution Date (or included in or
      with the monthly statements to Certificateholders pursuant to the Pooling
      and Servicing Agreement), the Company shall provide to the Purchaser a
      report identifying all loans delinquent 30 days or more (including all
      loans in foreclosure, bankruptcy or "real estate owned" status) (each, a
      "Delinquency Report"). The Delinquency Report shall use the same
      methodology and calculations employed in the Company's standard servicing
      reports, indicating the number of Mortgage Loans that are (i) thirty days
      delinquent, (ii) sixty days delinquent, (iii) ninety days or more
      delinquent, (iv) in foreclosure, (v) in bankruptcy or (vi) real estate
      owned, and indicating for each such Mortgage Loan the loan number, the
      property address and the outstanding principal balance.

            (b) If requested by the Purchaser, the Company shall cause the
Servicer (to the extent that the Company as Master Servicer is granted such
authority in the related Servicing Agreement) to make its servicing personnel
available (during their normal business hours) to respond to reasonable
inquiries, by phone or in writing by facsimile, electronic, or overnight mail
transmission, by the Purchaser in connection with any Mortgage Loan (i)
identified in a report under Section 2.01 (a) (ii), (a) (iii), (a) (iv), (a) (v)
or (a) (vi); provided, that (1) the related Servicer shall only be required to
provide information that is readily accessible to its servicing personnel and
(2) the related Servicer shall respond within five Business Days orally or in
writing by facsimile transmission.

            (c) In addition to the foregoing, the Company shall cause the
Servicer (to the extent that the Company as Master Servicer is granted such
authority in the related Servicing Agreement) to provide to the Company (for
prompt transmission to the Purchaser) such information as the Purchaser may
reasonably request provided, however, that such information is consistent with
normal reporting practices, concerning each Mortgage Loan that is at least
ninety days delinquent and each Mortgage Loan which has become real estate
owned, through the final liquidation thereof; provided, that the related
Servicer shall only be required to provide information that is readily
accessible to its servicing personnel; provided, however, that the Purchaser
will reimburse the Company and the related Servicer for any out of pocket
expenses.

            Section 2.02. Purchaser's Election to Delay Foreclosure Proceedings.

            (a) The Purchaser shall be deemed to direct the Company to direct
(to the extent that the Company as Master Servicer is granted such authority in
the related Servicing Agreement) the related Servicer that in the event that the
Company does not receive written notice of the Purchaser's election pursuant to
subsection (b) below within 48 hours (exclusive of any intervening non-Business
Days) of transmission of the Delinquency Report provided by the Company under
Section 2.01 (a) (subject to extension as set forth in Section 2.02(b), the
related Servicer may proceed with the Commencement of Foreclosure in respect of
each Mortgage Loan reported under Section 2.01 (a)(ii) or 2.01 (a)(iii) in
accordance with its normal foreclosure policies without further notice to the
Purchaser. Any foreclosure that has been initiated may be discontinued (i)
without notice to the Purchaser if the Mortgage Loan has been brought current or
if a refinancing or prepayment occurs with respect to the Mortgage Loan
(including by means of a short payoff approved by the related Servicer) or (ii)
if the related Servicer has reached the terms of a forbearance agreement with
the borrower.

            (b) In connection with any Mortgage Loan reported in a Delinquency
Report under Section 2.01(a)(ii) or 2.01 (a)(iii), the Purchaser may elect to
instruct the Company to cause, to the extent that the Company as Master Servicer
is granted such authority in the related Servicing Agreement, the related
Servicer to delay the Commencement of Foreclosure until such time as the
Purchaser determines that the related Servicer may proceed with the Commencement
of Foreclosure. Such election must be evidenced by written notice received
within 48 hours (exclusive of any intervening non-Business Days) of transmission
of the Delinquency Report provided by the Company under Section 2.01(a). Such 48
hour period shall be extended for no longer than an additional four Business
Days after the receipt of the information if the Purchaser requests additional
information related to such foreclosure; provided, however, that the Purchaser
will have at least one Business Day to respond to any requested additional
information. Any such additional information shall be provided only to the
extent it is obtainable by the related Servicer from existing reports,
certificates or statements or is otherwise readily accessible to its servicing
personnel. The Purchaser agrees that it has no right to deal with the mortgagor
during such period. However, if such servicing activities include acceptance of
a deed-in-lieu of foreclosure or short payoff, the Purchaser will be notified
and given two Business Days to respond.

            (c) With respect to any Mortgage Loan as to which the Purchaser has
made an Election to Delay Foreclosure, the Purchaser shall obtain a Current
Appraisal as soon as practicable, but in no event more than 15 Business Days
thereafter, and shall provide the Company with a copy of such Current Appraisal.

            (d) Within two Business Days of making any Election to Delay
Foreclosure, the Purchaser shall remit by wire transfer to the Company, for
deposit in the Collateral Fund, an amount, as calculated by the Company, equal
to the sum of (i) 125% of the greater of the unpaid principal balance of the
Mortgage Loan and the value shown in the Current Appraisal referred to in
subsection (c) above (or, if such Current Appraisal has not yet been obtained,
the Company's estimate thereof, in which case the required deposit under this
subsection shall be adjusted upon obtaining such Current Appraisal), and (ii)
three months' interest on the Mortgage Loan at the applicable Mortgage Interest
Rate. If any Election to Delay Foreclosure extends for a period in excess of
three months (such excess period being referred to herein as the "Excess
Period"), within two Business Days the Purchaser shall remit by wire transfer in
advance to the Company for deposit in the Collateral Fund the amount of each
additional month's interest, as calculated by the Company, equal to interest on
the Mortgage Loan at the applicable Mortgage Interest Rate for the Excess
Period. The terms of this Agreement will no longer apply to the servicing of any
Mortgage Loan upon the failure of the Purchaser to deposit any of the above
amounts relating to the Mortgage Loan within two Business Days of the Election
to Delay Foreclosure or within two Business Days of the commencement of the
Excess Period subject to Section 3.01.

            (e) With respect to any Mortgage Loan as to which the Purchaser has
made an Election to Delay Foreclosure, the Company may withdraw from the
Collateral Fund from time to time amounts necessary to reimburse the related
Servicer for all related Monthly Advances and Liquidation Expenses thereafter
made by such Servicer in accordance with the Pooling and Servicing Agreement and
the related Servicing Agreement. To the extent that the amount of any such
Liquidation Expenses is determined by the Company based on estimated costs, and
the actual costs are subsequently determined to be higher, the Company may
withdraw the additional amount from the Collateral Fund. In the event that the
Mortgage Loan is brought current by the mortgagor and the foreclosure action is
discontinued, the amounts so withdrawn from the Collateral Fund shall be
redeposited if and to the extent that reimbursement therefor from amounts paid
by the mortgagor is not prohibited pursuant to the Pooling and Servicing
Agreement or the related Servicing Agreement, applicable law or the related
mortgage note. Except as provided in the preceding sentence, amounts withdrawn
from the Collateral Fund to cover Monthly Advances and Liquidation Expenses
shall not be redeposited therein or otherwise reimbursed to the Purchaser. If
and when any such Mortgage Loan is brought current by the mortgagor, all amounts
remaining in the Collateral Fund in respect of such Mortgage Loan (after
adjustment for all permitted withdrawals and deposits pursuant to this
subsection) shall be released to the Purchaser.

            (f) With respect to any Mortgage Loan as to which the Purchaser has
made an Election to Delay Foreclosure, the related Servicer shall continue to
service the Mortgage Loan in accordance with its customary procedures (other
than the delay in Commencement of Foreclosure as provided herein). If and when
the Purchaser shall notify the Company that it believes that it is appropriate
to do so, the related Servicer may proceed with the Commencement of Foreclosure.
In any event, if the Mortgage Loan is not brought current by the mortgagor by
the time the loan becomes 6 months delinquent, the Purchaser's election shall no
longer be effective and at the Purchaser's option, either (i) the Purchaser
shall purchase the Mortgage Loan from the related Trust Estate at a purchase
price equal to the sum of (x) accrued and unpaid interest on the Mortgage Loan
at the applicable Mortgage Interest Rate through the last day of the month of
repurchase, (y) 100% of the unpaid principal balance of the Mortgage Loan as of
such purchase date and (z) any additional amount needed to reimburse any
unreimbursed related Periodic Advance or other servicing advances made in
respect of such Mortgage Loan, to be paid by (A) applying any balance in the
Collateral Fund to such purchase price, and (B) to the extent of any deficiency,
by wire transfer of immediately available funds from the Purchaser to the
Company for deposit in the related Certificate Account; or (ii) the related
Servicer shall proceed with the Commencement of Foreclosure. In the event that
the Purchaser purchases any such Mortgage Loan, the Servicer shall continue to
service the Mortgage Loan for the Purchaser pursuant to the applicable Servicing
Agreement.

            (g) Upon the occurrence of a liquidation with respect to any
Mortgage Loan as to which the Purchaser made an Election to Delay Foreclosure
and as to which the related Servicer proceeded with the Commencement of
Foreclosure in accordance with subsection (f) above, the Company shall calculate
the amount, if any, by which the value shown on the Current Appraisal obtained
under subsection (c) exceeds the actual sales price obtained for the related
Mortgaged Property (net of Liquidation Expenses and accrued interest related to
the extended foreclosure period), and the Company shall withdraw the amount of
such excess from the Collateral Fund, shall remit the same to the Trust Estate
and in its capacity as Master Servicer shall apply such amount as additional
Liquidation Proceeds pursuant to the Pooling and Servicing Agreement. After
making such withdrawal, all amounts remaining in the Collateral Fund in respect
of such Mortgage Loan (after adjustment for all permitted withdrawals and
deposits pursuant to this Agreement) shall be released to the Purchaser.

            Section 2.03. Purchaser's Election to Commence Foreclosure
Proceedings.

            (a) In connection with any Mortgage Loan identified in a Delinquency
Report under Section 2.01(a)(ii), the Purchaser, for so long as the Purchaser
owns 100% of the Lowest Priority Certificates, may elect to instruct the Company
to cause, to the extent that the Company as Master Servicer is granted such
authority in the related Servicing Agreement, the related Servicer to proceed
with the Commencement of Foreclosure as soon as practicable. Such election must
be evidenced by written notice received by the Company by 5:00 p.m., New York
City time, on the third Business Day following the delivery of such Delinquency
Report.

            (b) Within two Business Days of making any Election to Foreclose,
the Purchaser shall remit to the Company, for deposit in the Collateral Fund, an
amount, as calculated by the Company, equal to 125% of the current unpaid
principal balance of the Mortgage Loan and three months interest on the Mortgage
Loan at the applicable Mortgage Interest Rate. If and when any such Mortgage
Loan is brought current by the mortgagor, all amounts in the Collateral Fund in
respect of such Mortgage Loan (after adjustment for all permitted withdrawals
and deposits pursuant to this Agreement) shall be released to the Purchaser if
and to the extent that reimbursement therefor from amounts paid by the mortgagor
is not prohibited pursuant to the Pooling and Servicing Agreement or the related
Servicing Agreement, applicable law or the related mortgage note. The terms of
this Agreement will no longer apply to the servicing of any Mortgage Loan upon
the failure of the Purchaser to deposit the above amounts relating to the
Mortgage Loan within two Business Days of the Election to Foreclose subject to
Section 3.01.

            (c) With respect to any Mortgage Loan as to which the Purchaser has
made an Election to Foreclose, the related Servicer shall continue to service
the Mortgage Loan in accordance with its customary procedures (other than
Commencement of Foreclosure as provided herein). In connection therewith, the
Company shall have the same rights to make withdrawals for Monthly Advances and
Liquidations Expenses from the Collateral Fund as are provided under Section
2.02(e), and the Company shall make reimbursements thereto to the limited extent
provided under such subsection in accordance with its customary procedures. The
Company shall not be required to cause, to the extent that the Company as Master
Servicer is granted such authority in the related Servicing Agreement, the
related Servicer to proceed with the Commencement of Foreclosure if (i) the same
is stayed as a result of the mortgagor's bankruptcy or is otherwise barred by
applicable law, or to the extent that all legal conditions precedent thereto
have not yet been complied with, or (ii) the Company believes there is a breach
of representations or warranties by the Company, a Servicer, or the Depositor,
which may result in a repurchase or substitution of such Mortgage Loan, or (iii)
the Company or related Servicer reasonably believes the Mortgaged Property may
be contaminated with or affected by hazardous wastes or hazardous substances
(and, without limiting the related Servicer's right not to proceed with the
Commencement of Foreclosure, the Company supplies the Purchaser with information
supporting such belief). Any foreclosure that has been initiated may be
discontinued (x) without notice to the Purchaser if the Mortgage Loan has been
brought current or if a refinancing or prepayment occurs with respect to the
Mortgage Loan (including by means of a short payoff) or (y) if the related
Servicer has reached the terms of a forbearance agreement.

            (d) Upon the occurrence of a liquidation with respect to any
Mortgage Loan as to which the Purchaser made an Election to Foreclose and as to
which the related Servicer proceeded with the Commencement of Foreclosure in
accordance with subsection (c) above, the Company shall calculate the amount, if
any, by which the unpaid principal balance of the Mortgage Loan at the time of
liquidation (plus all unreimbursed interest and servicing advances and
Liquidation Expenses in connection therewith other than those paid from the
Collateral Fund) exceeds the actual sales price obtained for the related
Mortgaged Property, and the Company shall withdraw the amount of such excess
from the Collateral Fund, shall remit the same to the Trust Estate and in its
capacity as Master Servicer shall apply such amount as additional Liquidation
Proceeds pursuant to the Pooling and Servicing Agreement. After making such
withdrawal, all amounts remaining in the Collateral Fund (after adjustment for
all withdrawals and deposits pursuant to subsection (c) in respect of such
Mortgage Loan shall be released to the Purchaser.

            Section 2.04. Termination.

            (a) With respect to all Mortgage Loans included in the Trust Estate,
the Purchaser's right to make any Election to Delay Foreclosure or any Election
to Foreclose and the Company's obligations under Section 2.01 shall terminate
(i) at such time as the Principal Balance of the Class B Certificates has been
reduced to zero, (ii) if the greater of (x) 43% (or such lower or higher
percentage that represents the related Servicer's actual historical loss
experience with respect to the Mortgage Loans in the related pool as determined
by the Company) of the aggregate principal balance of all Mortgage Loans that
are in foreclosure or are more than 90 days delinquent on a contractual basis
and REO properties or (y) the aggregate amount that the Company estimates
through the normal servicing practices of the related Servicer will be required
to be withdrawn from the Collateral Fund with respect to Mortgage Loans as to
which the Purchaser has made an Election to Delay Foreclosure or an Election to
Foreclosure, exceeds (z) the then-current principal balance of the Class B
Certificates, (iii) upon any transfer by the Purchaser of any interest (other
than the minority interest therein, but only if the transferee provides written
acknowledgment to the Company of the Purchaser's right hereunder and that such
transferee will have no rights hereunder) in the Class B Certificates (whether
or not such transfer is registered under the Pooling and Servicing Agreement),
including any such transfer in connection with a termination of the Trust Estate
or (iv) upon any breach of the terms of this Agreement by the Purchaser.

            (b) Except as set forth in 2.04(a), this Agreement and the
respective rights, obligations and responsibilities of the Purchaser and the
Company hereunder shall terminate upon the later to occur of (i) the final
liquidation of the last Mortgage Loan as to which the Purchaser made any
Election to Delay Foreclosure or any Election to Foreclose and the withdrawal of
all remaining amounts in the Collateral Fund as provided herein and (ii) ten
Business Days' notice. The Purchaser's right to make an election pursuant to
Section 2.02 or Section 2.03 hereof with respect to a particular Mortgage Loan
shall terminate if the Purchaser fails to make any deposit required pursuant to
Section 2.02(d) or 2.03(b) or if the Purchaser fails to make any other deposit
to the Collateral Fund pursuant to this Agreement.

                                   ARTICLE III

                       COLLATERAL FUND; SECURITY INTEREST

            Section 3.01. Collateral Fund.

      Upon receipt from the Purchaser of the initial amount required to be
deposited in the Collateral Fund pursuant to Article II, the Company shall
establish and maintain with [_______________] as a segregated account on its
books and records an account (the "Collateral Fund"), entitled "Wells Fargo
Bank, N.A., as Master Servicer, for the benefit of registered holders of Wells
Fargo Asset Securities Corporation Mortgage Pass-Through Certificates, Series
[_____]." Amounts held in the Collateral Fund shall continue to be the property
of the Purchaser, subject to the first priority security interest granted
hereunder for the benefit of the Certificateholders, until withdrawn from the
Collateral Fund pursuant to Section 2.02 or 2.03 hereof. The Collateral Fund
shall be an "outside reserve fund" within the meaning of the REMIC Provisions,
beneficially owned by the Purchaser for federal income tax purposes. All income,
gain, deduction or loss with respect to the Collateral Fund shall be that of the
Purchaser. All distributions from the Trust Fund to the Collateral Fund shall be
treated as distributed to the Purchaser as the beneficial owner thereof.

      Upon the termination of this Agreement and the liquidation of all
Mortgage Loans as to which the Purchaser has made any Election to Delay
Foreclosure or any Election to Foreclose pursuant to Section 2.04 hereof, the
Company shall distribute or cause to be distributed to the Purchaser all
amounts remaining in the Collateral Fund (after adjustment for all deposits and
permitted withdrawals pursuant to this Agreement) together with any investment
earnings thereon. In the event the Purchaser has made any Election to Delay
Foreclosure or any Election to Foreclose, prior to any distribution to the
Purchaser of all amounts remaining in the Collateral Fund, funds in the
Collateral Fund shall be applied consistent with the terms of this Agreement.

            Section 3.02. Collateral Fund Permitted Investments.

      The Company shall, at the written direction of the Purchaser, invest the
funds in the Collateral Fund in Collateral Fund Permitted Investments. Such
direction shall not be changed more frequently than quarterly. In the absence
of any direction, the Company shall select such investments in accordance with
the definition of Collateral Fund Permitted Investments in its discretion. All
income and gain realized from any investment as well as any interest earned on
deposits in the Collateral Fund (net of any losses on such investments) and any
payments of principal made in respect of any Collateral Fund Permitted
Investment shall be deposited in the Collateral Fund upon receipt. All costs
and realized losses associated with the purchase and sale of Collateral Fund
Permitted Investments shall be borne by the Purchaser and the amount of net
realized losses shall be deposited by the Purchaser in the Collateral Fund
promptly upon realization. The Company shall periodically (but not more
frequently than monthly) distribute to the Purchaser upon request an amount of
cash, to the extent cash is available therefore in the Collateral Fund, equal
to the amount by which the balance of the Collateral Fund, after giving effect
to all other distributions to be made from the Collateral Fund on such date,
exceeds the Required Collateral Fund Balance. Any amounts so distributed shall
be released from the lien and security interest of this Agreement.

            Section 3.03. Grant of Security Interest.

      The Purchaser hereby grants to the Company for the benefit of the
Certificateholders under the Pooling and Servicing Agreement a security
interest in and lien on all of the Purchaser's right, title and interest,
whether now owned or hereafter acquired, in and to: (1) the Collateral Fund,
(2) all amounts deposited in the Collateral Fund and Collateral Fund Permitted
Investments in which such amounts are invested (and the distributions and
proceeds of such investments) and (3) all cash and non-cash proceeds of any of
the foregoing, including proceeds of the voluntary conversion thereof (all of
the foregoing collectively, the "Collateral").

      The Purchaser acknowledges the lien on and the security interest in the
Collateral for the benefit of the Certificateholders. The Purchaser shall take
all actions requested by the Company as may be reasonably necessary to perfect
the security interest created under this Agreement in the Collateral and cause
it to be prior to all other security interests and liens, including the
execution and delivery to the Company for filing of appropriate financing
statements in accordance with applicable law. The Company shall file
appropriate continuation statements, or appoint an agent on its behalf to file
such statements, in accordance with applicable law.

            Section 3.04. Collateral Shortfalls.

      In the event that amounts on deposit in the Collateral Fund at any time
are insufficient to cover any withdrawals therefrom that the Company is then
entitled to make hereunder, the Purchaser shall be obligated to pay such
amounts to the Company immediately upon demand. Such obligation shall
constitute a general corporate obligation of the Purchaser. The failure to pay
such amounts within two Business Days of such demand (except for amounts to
cover interest on a Mortgage Loan pursuant to Sections 2.02(d) and 2.03 (b)),
shall cause an immediate termination of the Purchaser's right to make any
Election to Delay Foreclosure or Election to Foreclose and the Company's
obligations under this Agreement with respect to all Mortgage Loans to which
such insufficiencies relate, without the necessity of any further notice or
demand on the part of the Company.

                                   ARTICLE IV

            Section 4.01. Assessment of Servicing Compliance; Registered Public
Accounting Firm Attestation Reports; Exchange Act Reporting.

            (a) The Purchaser shall furnish, or cause to be furnished in the
case of clause (iii), to the Master Servicer, no later than March 5 of each year
or if such day is not a Business Day, the next Business Day (with a 10 calendar
day cure period, but in no event later than March 15), commencing in March 20 ,
the following:

            (i) a report (in form and substance reasonably satisfactory to the
      Master Servicer and the Depositor) regarding the Purchaser's assessment of
      compliance with the Servicing Criteria applicable to it during the
      immediately preceding calendar year, as required under Rules 13a-18 and
      15d-18 of the Exchange Act and Item 1122 of Regulation AB. Such report
      shall be addressed to the Master Servicer and signed by an authorized
      officer of the Purchaser, and shall address, at a minimum, each of the
      Servicing Criteria applicable to the Purchaser;

            (ii) a report of a registered public accounting firm reasonably
      acceptable to the Master Servicer and the Depositor that attests to, and
      reports on, the assessment of compliance made by the Purchaser and
      delivered pursuant to the preceding paragraph. Such attestation shall be
      in accordance with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under
      the Securities Act and the Exchange Act. If requested by the Master
      Servicer or the Depositor, such report shall contain or be accompanied by
      a consent of such accounting firm to inclusion or incorporation of such
      report in the Depositor's Registration Statement on Form S-3 relating to
      the Certificates and the Trust's Form 10-K; and

            (iii) an assessment of compliance and accountants' attestation as
      described in paragraphs (i) and (ii) of this Section 4.01(a) with respect
      to each Subcontractor determined by the Purchaser pursuant to Section 4.02
      to be "participating in the servicing function" within the meaning of Item
      1122 of Regulation AB.

            An assessment of compliance provided by a Subcontractor pursuant to
Section 4.01(a)(iii) need not address any elements of the Servicing Criteria
applicable to it other than those specified by the Purchaser pursuant to Section
4.02.

            No later than 30 days following the end of each fiscal year for the
Trust for which a Form 10-K is required to be filed, the Purchaser shall forward
to the Master Servicer the name of each Subcontractor engaged by it and what
Servicing Criteria will be addressed in the report on assessment of compliance
prepared by such Subcontractor. When the Purchaser submits its assessment to the
Master Servicer, it will also at such time include the assessment (and
attestation pursuant to Section 4.01(a)(ii) hereof) of each Subcontractor
engaged by it.

            (b) Within five (5) calendar days after a Distribution Date, the
Purchaser shall provide to the Master Servicer, to the extent known, in
EDGAR-compatible format, or in such other form as otherwise agreed upon by the
Master Servicer and the Purchaser, the form and substance of any Additional Form
10-D Disclosure applicable to the Purchaser, as indicated in the table in
Exhibit S to the Pooling and Servicing Agreement. The Purchaser acknowledges
that the performance by the Master Servicer of its duties under Section 3.12(a)
of the Pooling and Servicing Agreement relating to the timely preparation and
filing of Form 10-D is contingent upon the Purchaser strictly observing all
applicable deadlines in the performance of its duties under this Section
4.01(b).

            (c) No later than March 5 (with a 10 calendar day cure period, but
in no event later than March 15) of each year that the Trust is subject to the
Exchange Act reporting requirements, commencing in March 20 , the Purchaser
shall provide to the Master Servicer, to the extent known, in EDGAR-compatible
format, or in such other form as otherwise agreed upon by the Master Servicer
and the Purchaser, the form and substance of any Additional Form 10-K Disclosure
applicable to the Purchaser, as indicated in the table in Exhibit T to the
Pooling and Servicing Agreement. The Purchaser acknowledges that the performance
by the Master Servicer of its duties under Section 3.12(b) of the Pooling and
Servicing Agreement relating to the timely preparation and filing of Form 10-K
is contingent upon the Purchaser strictly observing all applicable deadlines in
the performance of its duties under this Section 4.01(c).

            (d) For so long as the Trust is subject to the Exchange Act
reporting requirements, no later than the end of business on the second Business
Day after the occurrence of a Reportable Event applicable to the Purchaser, the
Purchaser shall provide to the Master Servicer, to the extent known, in
EDGAR-compatible format, or in such other form as otherwise agreed upon by the
Master Servicer and the Purchaser, the form and substance of any Form 8-K
Disclosure Information applicable to the Purchaser, as indicated in the table in
Exhibit U to the Pooling and Servicing Agreement. The Purchaser acknowledges
that the performance by the Master Servicer of its duties under Section 3.12(c)
of the Pooling and Servicing Agreement relating to the timely preparation and
filing of Form 8-K is contingent upon the Purchaser strictly observing all
applicable deadlines in the performance of its duties under this Section
4.01(d).

            (e) The Purchaser shall provide such information regarding itself as
the Master Servicer or the Depositor request for the purpose of complying with
Item 1108 of Regulation AB, including at a minimum, the information set forth in
Exhibit A.

            (f) The Purchaser shall indemnify the Master Servicer, each
affiliate of the Master Servicer, the Trust, each broker dealer acting as
underwriter or initial purchaser of the Certificates, each Person who controls
any of such parties and the Depositor (within the meaning of Section 15 of the
Securities Act and Section 20 of the Exchange Act); and the respective present
and former directors, officers, employees and agents of each of the foregoing
and of the Depositor (each such entity, an "Indemnified Party"), and shall hold
each of them harmless from and against any losses, damages, penalties, fines,
forfeitures, legal fees and expenses and related costs, judgments, and any other
costs, fees and expenses that any of them may sustain arising out of or based
upon:

                  (i) (A) any untrue statement of a material fact contained or
            alleged to be contained in any information, report, certification,
            accountants' letter or other material provided in written or
            electronic form under this Section 4.01 or Section 4.02 hereof by or
            on behalf of the Purchaser, or provided under Sections 4.01 or 4.02
            by or on behalf of any Subcontractor (collectively, the "Purchaser
            Information"), or (B) the omission or alleged omission to state in
            the Purchaser Information a material fact required to be stated in
            the Purchaser Information or necessary in order to make the
            statements therein, in the light of the circumstances under which
            they were made, not misleading; provided, by way of clarification,
            that clause (B) of this paragraph shall be construed solely by
            reference to the Purchaser Information and not to any other
            information communicated in connection with a sale or purchase of
            securities, without regard to whether the Purchaser Information or
            any portion thereof is presented together with or separately from
            such other information; or

                  (ii) any failure by the Purchaser or any Subcontractor engaged
            by the Purchaser to deliver any information, report, certification,
            accountants' letter or other material when and as required under
            Sections 4.01 or 4.02, including any failure by the Purchaser to
            identify pursuant to Section 4.02 any Subcontractor "participating
            in the servicing function" within the meaning of Item 1122 of
            Regulation AB.

      In the case of any failure of performance described in clause (ii) of
this Section, the Purchaser shall promptly reimburse the Master Servicer and
the Depositor, as applicable, for all costs reasonably incurred by each such
party in order to obtain the information, report, certification, accountants'
letter or other material not delivered as required by the Purchaser or any
Subcontractor. If the indemnification provided for herein is unavailable to
hold harmless any Indemnified Party, then the Purchaser agrees that it shall
contribute to the amount paid or payable by such Indemnified Party as a result
of the losses, claims, damages or liabilities of such Indemnified Party in such
proportion as is appropriate to reflect the relative fault of such Indemnified
Party on the one hand and the Purchaser on the other in connection with a
breach of the Purchaser's obligations under this Section 4.1 or the Purchaser's
negligence, bad faith or willful misconduct in connection therewith.

            (g) Notwithstanding anything contained in this Section 4.01 to the
contrary, the provisions of this Section 4.01 shall not apply to the Purchaser
with respect to any calendar year unless the Purchaser exercises its rights set
forth under Sections 2.02 or 2.03 of this Agreement in such calendar year.

            Section 4.02. Engagement of Affiliates or Third-Parties.

            The Purchaser shall not hire any Subservicer without the consent of
the Master Servicer and the Depositor. The Purchaser shall not hire or
otherwise utilize the services of any Subcontractor to fulfill any of the
obligations of the Purchaser as servicer under this Agreement unless the
Purchaser complies with the provisions of this Section.

            It shall not be necessary for the Purchaser to seek the consent of
the Master Servicer or the Depositor to the utilization of any Subcontractor.
The Purchaser shall promptly upon request provide to the Master Servicer (or
any designee of Master Servicer) a written description (in form and substance
satisfactory to the Master Servicer and the Depositor) of the role and function
of each Subcontractor utilized by the Purchaser, specifying (i) the identity of
each such Subcontractor, (ii) which (if any) of such Subcontractors are
"participating in the servicing function" within the meaning of Item 1122 of
Regulation AB, and (iii) which elements of the Servicing Criteria will be
addressed in assessments of compliance provided by each Subcontractor
identified pursuant to clause (ii) of this paragraph.

            As a condition to the utilization of any Subcontractor determined
to be "participating in the servicing function" within the meaning of Item 1122
of Regulation AB, the Purchaser shall cause any such Subcontractor used by the
Purchaser, for the benefit of the Master Servicer and the Depositor to comply
with the provisions of Section 4.01 of this Agreement to the same extent as if
such Subcontractor were the Purchaser. The Purchaser shall be responsible for
obtaining from each Subcontractor and delivering to the Master Servicer any
assessment of compliance and attestation required to be delivered by such
Subcontractor under Section 4.01, in each case as and when required to be
delivered.

            Section 4.03. Notification of Merger.

            The Purchaser and such successor or surviving Person shall notify
the Depositor, the Master Servicer and the Trustee of any such merger,
conversion or consolidation at least two Business Days prior to the effective
date thereof and shall provide the Depositor and the Master Servicer with all
information required by the Depositor to comply with its reporting obligations
not later than the effective date of such merger, conversion or consolidation
(unless giving prior notice would be prohibited by applicable law or by a
confidentiality agreement, in which case notice shall be given by 12 noon
eastern time one Business Day after such merger or consolidation).

            Section 4.04. Compliance with Article IV.

            If (a) the Purchaser fails to comply with its obligations to
deliver any assessment of servicing compliance or registered public accounting
firm attestation reports required pursuant to this Article IV or (b) any
Subcontractor engaged by the Purchaser fails to comply with its obligations to
deliver any assessment of servicing compliance or registered public accounting
firm attestation reports, the Master Servicer, may, after consultation with the
Depositor, terminate this Agreement pursuant to Section 2.04(a)(iv).

                                    ARTICLE V

                            MISCELLANEOUS PROVISIONS

            Section 5.01. Amendment.

      This Agreement may be amended from time to time by the Company and the
Purchaser by written agreement signed by the Company and the Purchaser, subject
to the acknowledgement of the Rating Agencies as contemplated in Section 3.08
of the Pooling and Servicing Agreement with respect to such amendment.

            Section 5.02. Counterparts.

      This Agreement may be executed simultaneously in any number of
counterparts, each of which counterparts shall be deemed to be an original, and
such counterparts shall constitute but one and the same instrument.

            Section 5.03. Governing Law.

      This Agreement shall be construed in accordance with the laws of the
State of New York and the obligations, rights and remedies of the parties
hereunder shall be determined in accordance with such laws.

            Section 5.04. Notices.

      All demands, notices and direction hereunder shall be in writing or by
telecopy and shall be deemed effective upon receipt to:

      (a) in the case of the Company,
            Wells Fargo Bank, N.A.
            9062 Old Annapolis Road
            Columbia, MD 21045

            Attention: Vice President, Master Servicing
            Phone: 410-884-2000
            Fax: 410-715-1573

      (b) in the case of the Purchaser,

            Section 5.05. Severability of Provisions.

      If any one or more of the covenants, agreements, provisions or terms of
this Agreement shall be for any reason whatsoever, including regulatory, held
invalid, then such covenants, agreements, provisions or terms of this Agreement
and shall in no way affect the validity or enforceability of the other
provisions of this Agreement.

            Section 5.06. Successors and Assigns.

The provisions of this Agreement shall be binding upon and inure to the benefit
of the respective successors and assigns of the parties hereto, and all such
provisions shall inure to the benefit of the Certificateholders; provided,
however, that the rights under this Agreement cannot be assigned by the
Purchaser without the consent of the Company.

            Section 5.07. Article and Section Headings.

      The article and section headings herein are for convenience of reference
only and shall not limit or otherwise affect the meaning hereof.

            Section 5.08. Confidentiality.

      The Purchaser agrees that all information supplied by or on behalf of the
Company pursuant to Sections 2.01 or 2.02, including individual account
information, is the property of the Company and the Purchaser agrees to hold
such information confidential and not to disclose such information.

      Each party hereto agrees that neither it, nor any officer, director,
employee, affiliate or independent contractor acting at such party's direction
will disclose the terms of Section 5.09 of this Agreement to any person or
entity other than such party's legal counsel except pursuant to a final,
non-appealable order of court, the pendency of such order the other party will
have received notice of at least five business days prior to the date thereof,
or pursuant to the other party's prior express written consent.

            Section 5.09. Indemnification.

      The Purchaser agrees to indemnify and hold harmless the Company, the
Depositor, and each Servicer and each person who controls the Company, the
Depositor, or a Servicer and each of their respective officers, directors,
affiliates and agents acting at the Company's, the Depositor's, or a Servicer's
direction (the "Indemnified Parties") against any and all losses, claims,
damages or liabilities to which they may be subject, insofar as such losses,
claims, damages or liabilities (or actions in respect thereof) arise out of, or
are based upon, actions taken by, or actions not taken by, the Company, the
Depositor, or a Servicer, or on their behalf, in accordance with the provisions
of this Agreement and (i) which actions conflict with the Company's, the
Depositor's, or a Servicer's obligations under the Pooling and Servicing
Agreement or the related Servicing Agreement, or (ii) give rise to securities
law liability under federal or state securities laws with respect to the
Certificates. The Purchaser hereby agrees to reimburse the Indemnified Parties
for the reasonable legal or other expenses incurred by them in connection with
investigating or defending any such loss, claim, damage, liability or action.
The indemnification obligations of the Purchaser hereunder shall survive the
termination or expiration of this Agreement.

            Section 5.10 Regulation AB Compliance; Intent of Parties;
Reasonableness.

            The parties hereto acknowledge that interpretations of the
requirements of Regulation AB may change over time, whether due to interpretive
guidance provided by the Commission or its staff, consensus among participants
in the asset-backed securities markets, advice of counsel, or otherwise, and
agree to comply with requests made by the Depositor or the Master Servicer in
good faith for delivery of information under these provisions on the basis of
evolving interpretations of Regulation AB. In connection with the Trust, the
parties hereto shall cooperate fully with the Master Servicer and the Depositor
to deliver to the Master Servicer and/or the Depositor (including its assignees
or designees), any and all statements, reports, certifications, records and any
other information available to such party and reasonably necessary in the good
faith determination of the Depositor or the Master Servicer to permit the
Depositor or the Master Servicer to comply with the provisions of Regulation
AB, together with such disclosures reasonably believed by the Depositor or the
Master Servicer to be necessary in order to effect such compliance.

<PAGE>

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

                                         WELLS FARGO BANK, N.A.

                                         By:
                                            ------------------------------------
                                         Name:
                                         Title:

                                         [NAME OF PURCHASER]

                                         By:
                                            ------------------------------------
                                         Name:
                                         Title:

<PAGE>

                                                                       EXHIBIT A
                                                                       ---------

                              PURCHASER INFORMATION

      (A) the Purchaser's form of organization;

      (B) a description of how long the Purchaser has been servicing residential
mortgage loans; a general discussion of the Purchaser's experience in servicing
assets of any type as well as a more detailed discussion of the Purchaser's
experience in, and procedures for, the servicing function it will perform under
the Agreement; information regarding the size, composition and growth of the
Purchaser's portfolio of residential mortgage loans of a type similar to the
Mortgage Loans and information on factors related to the Purchaser that may be
material, in the good faith judgment of the Master Servicer or the Depositor, to
any analysis of the servicing of the Mortgage Loans or the related asset-backed
securities, as applicable, including, without limitation:

            (1) whether any prior securitizations of mortgage loans of a type
      similar to the Mortgage Loans involving the Purchaser have defaulted or
      experienced an early amortization or other performance triggering event
      because of servicing during the three-year period immediately preceding
      the date of engagement of the Purchaser;

            (2) the extent of outsourcing the Purchaser utilizes;

            (3) whether there has been previous disclosure of material
      noncompliance with the applicable servicing criteria with respect to
      securitizations of residential mortgage loans involving the Purchaser as a
      servicer during the three-year period immediately preceding the date of
      engagement of the Purchaser;

            (4) whether the Purchaser has been terminated as servicer in a
      residential mortgage loan securitization, either due to a servicing
      default or to application of a servicing performance test or trigger; and

            (5) such other information as the Master Servicer or the Depositor
      may reasonably request for the purpose of compliance with Item 1108(b)(2)
      of Regulation AB;

      (C) a description of any material changes during the three-year period
immediately preceding the date of engagement of the Purchaser to the Purchaser's
policies or procedures with respect to the servicing function it will perform
under the Agreement for mortgage loans of a type similar to the Mortgage Loans;

      (D) information regarding the Purchaser's financial condition, to the
extent that there is a material risk that an adverse financial event or
circumstance involving the Purchaser could have a material adverse effect on the
performance by the Purchaser of its servicing obligations under the Agreement;

      (E) information regarding advances made by the Purchaser on the Mortgage
Loans and the Purchaser's overall servicing portfolio of residential mortgage
loans for the three-year period immediately preceding the date of engagement of
the Purchaser, which may be limited to a statement by an authorized officer of
the Purchaser to the effect that the Purchaser has made all advances required to
be made on residential mortgage loans serviced by it during such period, or, if
such statement would not be accurate, information regarding the percentage and
type of advances not made as required, and the reasons for such failure to
advance;

      (F) a description of the Purchaser's processes and procedures designed to
address any special or unique factors involved in servicing loans of a similar
type as the Mortgage Loans;

      (G) a description of the Purchaser's processes for handling delinquencies,
losses, bankruptcies and recoveries, such as through liquidation of mortgaged
properties, sale of defaulted mortgage loans or workouts; and

      (H) information as to how the Purchaser defines or determines
delinquencies and charge-offs, including the effect of any grace period,
re-aging, restructuring, partial payments considered current or other practices
with respect to delinquency and loss experience.

<PAGE>

                                    EXHIBIT N

                 FORM OF INITIAL CERTIFICATION OF THE CUSTODIAN

                                  May 30, 2007

Wells Fargo Asset Securities Corporation
7430 New Technology Way
Frederick, Maryland  21703

Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, Maryland 21045-1951
Attn: Corporate Trust Services WFMBS 2007-7

HSBC Bank USA, National Association
452 Fifth Avenue
New York, New York 10018
Attention: Fernando Acebedo

      Re:   The Pooling and Servicing Agreement, dated May 30, 2007, among Wells
            Fargo Asset Securities Corporation, as Depositor, Wells Fargo Bank,
            N.A., as Master Servicer, and HSBC Bank USA, National Association,
            as Trustee, relating to the Wells Fargo Asset Securities
            Corporation; Mortgage Pass-Through Certificates, Series 2007-7.

Ladies and Gentlemen:

      In accordance with the provisions of Section 2.02 of the above-referenced
Pooling and Servicing Agreement (the "Pooling and Servicing Agreement"), the
undersigned, as Custodian on behalf of the Trustee, hereby certifies that,
except as specified in any list of exceptions attached hereto, it has received
the original Mortgage Note relating to each of the Mortgage Loans listed on the
Mortgage Loan Schedule.

      The Custodian has made no independent examination of any documents
contained in each Mortgage File beyond the review specifically required in the
Pooling and Servicing Agreement in connection with this initial certification.
The Custodian makes no representations as to: (i) the validity, legality,
sufficiency, enforceability, recordability or genuineness of any of the
documents contained in each Mortgage File or any of the Mortgage Loans
identified in the Mortgage Loan Schedule or (ii) the collectibility,
insurability, effectiveness or suitability of any such Mortgage Loan.

<PAGE>

      Capitalized terms used but not defined herein shall have the meanings
ascribed to such terms in the Pooling and Servicing Agreement.

                                    WELLS FARGO BANK, N.A.,
                                      as Custodian on behalf of the Trustee

                                    By:_______________________________
                                    Name:_____________________________
                                    Title:____________________________

<PAGE>

                                    EXHIBIT O

                  FORM OF FINAL CERTIFICATION OF THE CUSTODIAN

                              [__________ __, ____]

Wells Fargo Asset Securities Corporation
7430 New Technology Way
Frederick, Maryland  21703

Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, Maryland 21045-1951
Attn: Corporate Trust Services WFMBS 2007-7

HSBC Bank USA, National Association
452 Fifth Avenue
New York, New York 10018
Attention: Fernando Acebedo

      Re:   The Pooling and Servicing Agreement, dated May 30, 2007, among Wells
            Fargo Asset Securities Corporation, as Depositor, Wells Fargo Bank,
            N.A., as Master Servicer, and HSBC Bank USA, National Association,
            as Trustee, relating to the Wells Fargo Asset Securities
            Corporation; Mortgage Pass-Through Certificates, Series 2007-7.

Ladies and Gentlemen:

      In accordance with the provisions of Section 2.02 of the above-referenced
Pooling and Servicing Agreement (the "Pooling and Servicing Agreement"), the
undersigned, as Custodian on behalf of the Trustee, hereby certifies that, as
to each Mortgage Loan listed in the Mortgage Loan Schedule, except as may be
specified in any list of exceptions attached hereto, such Mortgage File
contains all of the items required to be delivered pursuant to Section 2.01 of
the Pooling and Servicing Agreement.

      The Custodian has made no independent examination of any documents
contained in each Mortgage File beyond the review specifically required in the
Pooling and Servicing Agreement in connection with this final certification.
The Custodian makes no representations as to: (i) the validity, legality,
sufficiency, enforceability, recordability or genuineness of any of the
documents contained in each Mortgage File or any of the Mortgage Loans
identified in the Mortgage Loan Schedule or (ii) the collectibility,
insurability, effectiveness or suitability of any such Mortgage Loan.

<PAGE>

      Capitalized terms used but not defined herein shall have the meanings
ascribed to such terms in the Pooling and Servicing Agreement.

                                    WELLS FARGO BANK, N.A.,
                                      as Custodian on behalf of the Trustee

                                    By:_______________________________
                                    Name:_____________________________
                                    Title:____________________________

<PAGE>

                                    EXHIBIT P

                      FORM OF SARBANES-OXLEY CERTIFICATION

                    Wells Fargo Asset Securities Corporation
                       Mortgage Pass-Through Certificates,
                                  Series 2007-7

            I, [________], certify that:

      1. I have reviewed this report on Form 10-K and all reports on Form 10-D
required to be filed in respect of the period covered by this report on Form
10-K of the Wells Fargo Asset Securities Corporation, Mortgage Pass-Through
Certificates, Series 2007-7 Trust (the "Exchange Act Periodic Reports");

      2. Based on my knowledge, the Exchange Act Periodic Reports, taken as a
whole, do not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading with respect
to the period covered by this report;

      3. Based on my knowledge, all of the distribution, servicing and other
information required to be provided under Form 10-D for the period covered by
this report is included in the Exchange Act Periodic Reports;

      4. I am responsible for reviewing the activities performed by the Master
Servicer and based upon my knowledge and the compliance review conducted in
preparing the servicer compliance statement required in this report under Item
1123 of Regulation AB, and except as disclosed in the Exchange Act Periodic
Reports, the Master Servicer has fulfilled its obligations under the pooling and
servicing agreement, dated May 30, 2007, among Wells Fargo Asset Securities
Corporation, as depositor, Wells Fargo Bank, N.A., as master servicer, and HSBC
Bank USA, National Association, as trustee; and

      5. All of the reports on assessment of compliance with the servicing
criteria for asset-backed securities and their related attestation reports on
assessment of compliance with servicing criteria for asset-backed securities
required to be included in this report in accordance with Item 1122 of
Regulation AB and Exchange Act Rules 13a-18 and 15d-18 have been included as an
exhibit to this report, except as otherwise disclosed in this report. Any
material instances of noncompliance described in such reports have been
disclosed in this report on Form 10-K.

      [The following is included only for a transaction where there are
Servicers other than Wells Fargo Bank: In giving the certifications above, I
have reasonably relied on information provided to me by the following
unaffiliated parties: [Name of Servicers other than Wells Fargo Bank], as
Servicer.]

<PAGE>

Date: [_____]

                                        By:
                                           -------------------------------------
                                           Name:
                                           Title:

<PAGE>

                                    EXHIBIT Q

                    Schedule of Pledged Asset Mortgage Loans

WFMBS
WFMBS 2007-07
F20, F25, F30 & B30 YEAR FIXED RATE NON RELOCATION

<TABLE>
<CAPTION>
(i)          (ii)                           (iii)      (iv)       (v)        (vi)        (vii)      (viii)      (ix)
                                                                  NET                                           CUT-OFF
MORTGAGE                                               MORTGAGE   MORTGAGE               ORIGINAL   SCHEDULED   DATE
LOAN                                ZIP     PROPERTY   INTEREST   INTEREST   MONTHLY     TERM TO    MATURITY    PRINCIPAL
NUMBER       CITY           STATE   CODE    TYPE       RATE       RATE       PAYMENT     MATURITY   DATE        BALANCE
----------   ------------   -----   -----   --------   --------   --------   ---------   --------   ---------   -------------
<S>          <C>            <C>     <C>     <C>        <C>        <C>        <C>         <C>        <C>         <C>
0158609149   MYRTLE BEACH   SC      29579   SFD           6.375      6.000   $2,013.44        360   1-Apr-37      $379,000.00
0159115989   HOUSTON        TX      77008   SFD           6.250      5.990   $3,750.00        360   1-May-37      $720,000.00
0159193101   FRIENDSWOOD    TX      77546   SFD           6.375      6.000   $1,360.00        360   1-Apr-37      $256,000.00
----------   ------------   -----   -----   --------   --------   --------   ---------   --------   ---------   -------------
                                                                                                                $1,355,000.00
<CAPTION>
(i)          (x)      (xi)      (xii)       (xiii)    (xiv)     (xv)       (xvi)      (xviI)
                                                                                      MORTGAGE
MORTGAGE                        MORTGAGE              MASTER    FIXED      MORTGAGE   LOAN
LOAN                            INSURANCE   SERVICE   SERVICE   RETAINED   LOAN       SERVICER
NUMBER       LTV      SUBSIDY   CODE        FEE       FEE       YIELD      TYPE       NAME
----------   ------   -------   ---------   -------   -------   --------   --------   ----------------------
<S>          <C>      <C>       <C>         <C>       <C>       <C>        <C>        <C>
0158609149   100.00                           0.250     0.010      0.115          1   WELLS FARGO BANK, N.A.
0159115989   100.00                           0.250     0.010      0.000          1   WELLS FARGO BANK, N.A.
0159193101   100.00                           0.250     0.010      0.115          1   WELLS FARGO BANK, N.A.
----------   ------   -------   ---------   -------   -------   --------   --------   ----------------------

</TABLE>

COUNT: 3
WAC: 6.3085793
WALTV: 100.0000000
WAM: 360.0000000

<PAGE>

                                    EXHIBIT R

         Servicing Criteria to be Addressed in Assessment of Compliance

<TABLE>
<CAPTION>

-----------------------------------------------------------------------------------------------------------------
                                  SERVICING CRITERIA                           APPLICABLE SERVICING CRITERIA
-----------------------------------------------------------------------------------------------------------------
                                                                       Master
  Reference                            Criteria                        Servicer   Trustee   Servicers   Custodian
-----------------------------------------------------------------------------------------------------------------
                           General Servicing Considerations
-----------------------------------------------------------------------------------------------------------------
<S>                <C>                                                 <C>        <C>       <C>         <C>
                   Policies and procedures are instituted to monitor      X         X(1)         X
                   any performance or other triggers and events of
                   default in accordance with the transaction
1122(d)(1)(i)      agreements.
-----------------------------------------------------------------------------------------------------------------
                   If any material servicing activities are               X                      X
                   outsourced to third parties, policies and
                   procedures are instituted to monitor the third
                   party's performance and compliance with such
1122(d)(1)(ii)     servicing activities.
-----------------------------------------------------------------------------------------------------------------
                   Any requirements in the transaction agreements to
                   maintain a back-up servicer for the mortgage
1122(d)(1)(iii)    loans are maintained.
-----------------------------------------------------------------------------------------------------------------
                   A fidelity bond and errors and omissions policy
                   is in effect on the party participating in the
                   servicing function throughout the reporting
                   period in the amount of coverage required by and
                   otherwise in accordance with the terms of the          X           X          X           X
1122(d)(1)(iv)     transaction agreements.
-----------------------------------------------------------------------------------------------------------------
                           Cash Collection and Administration
-----------------------------------------------------------------------------------------------------------------
                   Payments on mortgage loans are deposited into the      X                      X
                   appropriate custodial bank accounts and related
                   bank clearing accounts no more than two business
                   days following receipt, or such other number of
1122(d)(2)(i)      days specified in the transaction agreements.
-----------------------------------------------------------------------------------------------------------------
                   Disbursements made via wire transfer on behalf of      X                      X
                   an obligor or to an investor are made only by
1122(d)(2)(ii)     authorized personnel.
-----------------------------------------------------------------------------------------------------------------
                   Advances of funds or guarantees regarding              X         X (2)        X
                   collections, cash flows or distributions, and any
                   interest or other fees charged for such advances,
                   are made, reviewed and approved as specified in
1122(d)(2)(iii)    the transaction agreements.
-----------------------------------------------------------------------------------------------------------------
                   The related accounts for the transaction, such as      X                      X
                   cash reserve accounts or accounts established as
                   a form of overcollateralization, are separately
                   maintained (e.g., with respect to commingling of
1122(d)(2)(iv)     cash) as set forth in the transaction agreements.
-----------------------------------------------------------------------------------------------------------------
                   Each custodial account is maintained at a              X                      X
                   federally insured depository institution as set
                   forth in the transaction agreements. For purposes
                   of this criterion, "federally insured depository
                   institution" with respect to a foreign financial
                   institution means a foreign financial institution
                   that meets the requirements of Rule 13k-1(b)(1)
1122(d)(2)(v)      of the Securities Exchange Act.
-----------------------------------------------------------------------------------------------------------------
                   Unissued checks are safeguarded so as to prevent       X                      X
1122(d)(2)(vi)     unauthorized access.
-----------------------------------------------------------------------------------------------------------------
                   Reconciliations are prepared on a monthly basis        X                      X
                   for all asset-backed securities related bank
                   accounts, including custodial accounts and
                   related bank clearing accounts. These
                   reconciliations are (A) mathematically accurate;
                   (B) prepared within 30 calendar days after the
                   bank statement cutoff date, or such other number
                   of days specified in the transaction agreements;
                   (C) reviewed and approved by someone other than
                   the person who prepared the reconciliation; and
                   (D) contain explanations for reconciling items.
                   These reconciling items are resolved within 90
                   calendar days of their original identification,
                   or such other number of days specified in the
1122(d)(2)(vii)    transaction agreements.
-----------------------------------------------------------------------------------------------------------------
                           Investor Remittances and Reporting
-----------------------------------------------------------------------------------------------------------------
                   Reports to investors, including those to be filed      X                      X
                   with the Commission, are maintained in accordance
                   with the transaction agreements and applicable
                   Commission requirements. Specifically, such
                   reports (A) are prepared in accordance with
                   timeframes and other terms set forth in the
                   transaction agreements; (B) provide information
                   calculated in accordance with the terms specified
                   in the transaction agreements; (C) are filed with
                   the Commission as required by its rules and
                   regulations; and (D) agree with investors' or the
                   trustee's records as to the total unpaid
                   principal balance and number of mortgage loans
1122(d)(3)(i)      serviced by the Servicer.
-----------------------------------------------------------------------------------------------------------------
                   Amounts due to investors are allocated and             X                      X
                   remitted in accordance with timeframes,
                   distribution priority and other terms set forth
1122(d)(3)(ii)     in the transaction agreements.
-----------------------------------------------------------------------------------------------------------------
                   Disbursements made to an investor are posted           X                      X
                   within two business days to the Servicer's
                   investor records, or such other number of days
1122(d)(3)(iii)    specified in the transaction agreements.
-----------------------------------------------------------------------------------------------------------------
                   Amounts remitted to investors per the investor         X                      X
                   reports agree with cancelled checks, or other
1122(d)(3)(iv)     form of payment, or custodial bank statements.
-----------------------------------------------------------------------------------------------------------------
                               Pool Asset Administration
-----------------------------------------------------------------------------------------------------------------
                   Collateral or security on mortgage loans is            X                      X           X
                   maintained as required by the transaction
1122(d)(4)(i)      agreements or related mortgage loan documents.
------------------------------------------------------------------------------ -----------------------------------
                   Mortgage loan and related documents are                                       X           X
                   safeguarded as required by the transaction
1122(d)(4)(ii)     agreements
-----------------------------------------------------------------------------------------------------------------
                   Any additions, removals or substitutions to the        X           X          X
                   asset pool are made, reviewed and approved in
                   accordance with any conditions or requirements in
1122(d)(4)(iii)    the transaction agreements.
-----------------------------------------------------------------------------------------------------------------
                   Payments on mortgage loans, including any                                     X
                   payoffs, made in accordance with the related
                   mortgage loan documents are posted to the
                   Servicer's obligor records maintained no more
                   than two business days after receipt, or such
                   other number of days specified in the transaction
                   agreements, and allocated to principal, interest
                   or other items (e.g., escrow) in accordance with
1122(d)(4)(iv)     the related mortgage loan documents.
-----------------------------------------------------------------------------------------------------------------
                   The Servicer's records regarding the mortgage                                 X
                   loans agree with the Servicer's records with
1122(d)(4)(v)      respect to an obligor's unpaid principal balance.
-----------------------------------------------------------------------------------------------------------------
                   Changes with respect to the terms or status of an      X                      X
                   obligor's mortgage loans (e.g., loan
                   modifications or re-agings) are made, reviewed
                   and approved by authorized personnel in
                   accordance with the transaction agreements and
1122(d)(4)(vi)     related pool asset documents.
-----------------------------------------------------------------------------------------------------------------
                   Loss mitigation or recovery actions (e.g.,             X                      X
                   forbearance plans, modifications and deeds in
                   lieu of foreclosure, foreclosures and
                   repossessions, as applicable) are initiated,
                   conducted and concluded in accordance with the
                   timeframes or other requirements established by
1122(d)(4)(vii)    the transaction agreements.
-----------------------------------------------------------------------------------------------------------------
                   Records documenting collection efforts are                                    X
                   maintained during the period a mortgage loan is
                   delinquent in accordance with the transaction
                   agreements. Such records are maintained on at
                   least a monthly basis, or such other period
                   specified in the transaction agreements, and
                   describe the entity's activities in monitoring
                   delinquent mortgage loans including, for example,
                   phone calls, letters and payment rescheduling
                   plans in cases where delinquency is deemed
1122(d)(4)(viii)   temporary (e.g., illness or unemployment).
-----------------------------------------------------------------------------------------------------------------
                   Adjustments to interest rates or rates of return                              X
                   for mortgage loans with variable rates are
                   computed based on the related mortgage loan
1122(d)(4)(ix)     documents.
-----------------------------------------------------------------------------------------------------------------
                   Regarding any funds held in trust for an obligor                              X
                   (such as escrow accounts): (A) such funds are
                   analyzed, in accordance with the obligor's
                   mortgage loan documents, on at least an annual
                   basis, or such other period specified in the
                   transaction agreements; (B) interest on such
                   funds is paid, or credited, to obligors in
                   accordance with applicable mortgage loan
                   documents and state laws; and (C) such funds are
                   returned to the obligor within 30 calendar days
                   of full repayment of the related mortgage loans,
                   or such other number of days specified in the
1122(d)(4)(x)      transaction agreements.
-----------------------------------------------------------------------------------------------------------------
                   Payments made on behalf of an obligor (such as                                X
                   tax or insurance payments) are made on or before
                   the related penalty or expiration dates, as
                   indicated on the appropriate bills or notices for
                   such payments, provided that such support has
                   been received by the servicer at least 30
                   calendar days prior to these dates, or such other
                   number of days specified in the transaction
1122(d)(4)(xi)     agreements.
-----------------------------------------------------------------------------------------------------------------
                   Any late payment penalties in connection with any                             X
                   payment to be made on behalf of an obligor are
                   paid from the Servicer's funds and not charged to
                   the obligor, unless the late payment was due to
1122(d)(4)(xii)    the obligor's error or omission.
-----------------------------------------------------------------------------------------------------------------
                   Disbursements made on behalf of an obligor are                                X
                   posted within two business days to the obligor's
                   records maintained by the Servicer, or such other
                   number of days specified in the transaction
1122(d)(4)(xiii)   agreements.
-----------------------------------------------------------------------------------------------------------------
                   Delinquencies, charge-offs and uncollectible           X                      X
                   accounts are recognized and recorded in
1122(d)(4)(xiv)    accordance with the transaction agreements.
-----------------------------------------------------------------------------------------------------------------
                   Any external enhancement or other support,             X(3)
                   identified in Item 1114(a)(1) through (3) or Item
                   1115 of Regulation AB, is maintained as set forth
1122(d)(4)(xv)     in the transaction agreements.
-----------------------------------------------------------------------------------------------------------------
</TABLE>

        [_______________________]

        Date: _________________________

        By:_____________________________
           Name:
           Title:

(1)   This Servicing Criterion applies to the Trustee with respect to Events of
      Default as set forth in the Pooling and Servicing Agreement.
(2)   This Servicing Criterion applies to the Trustee if the Trustee was
      required during the preceding calendar year to make an Advance in
      accordance with Section 8.14 of the Pooling and Servicing Agreement.
(3)   This Servicing Criterion applies to the Master Servicer only for
      transactions that contain any external credit enhancement or other support
      identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB.

<PAGE>

                                    EXHIBIT S

                         Additional Form 10-D Disclosure

<TABLE>
<CAPTION>

----------------------------------------------------------------------------------------------------
Item on Form 10-D                                      Party Responsible
----------------------------------------------------------------------------------------------------
<S>                                                    <C>
Item 1: Distribution and Pool Performance              Master Servicer, Depositor
         Information

      Any information required by 1121 which is NOT
      included on the Distribution Date Statement
----------------------------------------------------------------------------------------------------
Item 2: Legal Proceedings per Item 1117 of Reg AB      (i) All parties to the Pooling and Servicing
                                                       Agreement, the Custodian, each Servicer and,
                                                       if applicable the Special Servicer (as to
                                                       themselves), (ii) the Master Servicer as to
                                                       the issuing entity, (iii) the Depositor as to
                                                       the sponsor, any 1110(b) originator, any
                                                       1100(d)(1) party
----------------------------------------------------------------------------------------------------
Item 3: Sale of Securities and Use of Proceeds         Depositor
----------------------------------------------------------------------------------------------------
Item 4: Defaults Upon Senior Securities                Master Servicer
----------------------------------------------------------------------------------------------------
Item 5: Submission of Matters to a Vote of Security    Master Servicer, Trustee
         Holders
----------------------------------------------------------------------------------------------------
Item 6: Significant Obligors of Pool Assets            Depositor, if applicable
----------------------------------------------------------------------------------------------------
Item 7: Significant Enhancement Provider Information   Depositor, if applicable
----------------------------------------------------------------------------------------------------
Item 8: Other Information                              Any party responsible for disclosure items on
                                                       Form 8-K
----------------------------------------------------------------------------------------------------
Item 9: Exhibits                                       Depositor, Master Servicer
----------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

                                    EXHIBIT T

                         Additional Form 10-K Disclosure

<TABLE>
<CAPTION>

--------------------------------------------------------------------------------------------------
Item on Form 10-K                                    Party Responsible
--------------------------------------------------------------------------------------------------
<S>                                                  <C>
Item 1B: Unresolved Staff Comments                   Depositor

--------------------------------------------------------------------------------------------------
Item 9B:  Other Information                          Any party responsible for disclosure items on
                                                     Form 8-K
--------------------------------------------------------------------------------------------------
Item 15: Exhibits, Financial Statement Schedules     Master Servicer
                                                     Depositor
--------------------------------------------------------------------------------------------------
Additional Item:                                     (i) All parties to the Pooling and Servicing
                                                     Agreement, the Custodian, each Servicer and,
Disclosure per Item 1117 of Reg AB                   if applicable the Special Servicer (as to
                                                     themselves), (ii) the Master Servicer as to
                                                     the issuing entity, (iii) the Depositor as to
                                                     the sponsor, any 1110(b) originator, any
                                                     1100(d)(1) party
--------------------------------------------------------------------------------------------------
Additional Item:                                     (i) All parties to the Pooling and Servicing
Disclosure per Item 1119 of Reg AB                   Agreement, the Custodian, each Servicer and,
                                                     if applicable the Special Servicer (as to
                                                     themselves), (ii) the Master Servicer as to
                                                     the issuing entity, (iii) the Depositor as to
                                                     the sponsor, any 1110(b) originator, any
                                                     1100(d)(1) party, any significant obligor,
                                                     any credit enhancement provider or derivative
                                                     counterparty
--------------------------------------------------------------------------------------------------
Additional Item:                                     Depositor, if applicable
Disclosure per Item 1112(b) of Reg AB
--------------------------------------------------------------------------------------------------
Additional Item:                                     Depositor, if applicable
Disclosure per Items 1114(b) and 1115(b) of Reg AB
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

                                    EXHIBIT U

                         Form 8-K Disclosure Information

<TABLE>
<CAPTION>

---------------------------------------------------------------------------------------------------
Item on Form 8-K                                      Party Responsible
---------------------------------------------------------------------------------------------------
<S>                                                   <C>
Item 1.01- Entry into a Material Definitive           All parties to the Pooling and Servicing
           Agreement                                  Agreement, each Servicer, the Custodian and,
                                                      if applicable, the Special Servicer, as to
                                                      each agreement to which it is a party
---------------------------------------------------------------------------------------------------
Item 1.02- Termination of a Material Definitive       All parties to the Pooling and Servicing
           Agreement                                  Agreement, each Servicer, the Custodian and,
                                                      if applicable, the Special Servicer, as to
                                                      each agreement to which it is a party
---------------------------------------------------------------------------------------------------
Item 1.03- Bankruptcy or Receivership                 (i) Depositor, as to itself, the sponsor, any
                                                      1100(d)(1) party, any significant obligor,
                                                      any credit enhancement provider or derivative
                                                      counterparty and any other transaction party,
                                                      to the extent known to the Depositor, (ii)
                                                      Trustee, as to itself, (iii) each Servicer as
                                                      to itself, (iv) Master Servicer, as to itself
                                                      and any other transaction party, to the
                                                      extent known to the Master Servicer
---------------------------------------------------------------------------------------------------
Item 2.04- Triggering Events that Accelerate or       Master Servicer
           Increase a Direct Financial Obligation or
           an Obligation under an Off-Balance Sheet
           Arrangement
---------------------------------------------------------------------------------------------------
Item 3.03- Material Modification to Rights of         Master Servicer
           Security Holders
---------------------------------------------------------------------------------------------------
Item 5.03- Amendments of Articles of Incorporation    Master Servicer
           or Bylaws; Change of Fiscal Year
---------------------------------------------------------------------------------------------------
Item 6.01- ABS Informational and Computational        Depositor
           Material
---------------------------------------------------------------------------------------------------
Item 6.02- Change of Servicer or Master Servicer      Servicer, Master Servicer
---------------------------------------------------------------------------------------------------
Item 6.03- Change in Credit Enhancement or External   Depositor/Master Servicer
           Support
---------------------------------------------------------------------------------------------------
Item 6.04- Failure to Make a Required Distribution    Master Servicer
---------------------------------------------------------------------------------------------------
Item 6.05- Securities Act Updating Disclosure         Depositor
---------------------------------------------------------------------------------------------------
Item 7.01- Reg FD Disclosure                          Depositor
---------------------------------------------------------------------------------------------------
Item 8.01-  Other Events                              Depositor, Master Servicer
---------------------------------------------------------------------------------------------------
Item 9.01                                             Depositor, Master Servicer
---------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

                                    EXHIBIT V

                       Additional Disclosure Notification

**SEND VIA FAX TO 410-715-2380 AND VIA EMAIL TO
CTS.SEC.NOTIFICATIONS@WELLSFARGO.COM AND VIA OVERNIGHT MAIL TO THE ADDRESS
IMMEDIATELY BELOW**

Wells Fargo Bank, N.A., as Master Servicer
9062 Old Annapolis Road
Columbia, Maryland 21045
Attn: Corporate Trust Services- WFMBS 2007-7--SEC REPORT PROCESSING

RE:**[Additional Form [10-D][10-K] Disclosure][Form 8-K Disclosure
Information]** Required

Ladies and Gentlemen:

            In accordance with Section [_] of the Pooling and Servicing
Agreement, dated as of May 30, 2007, among Wells Fargo Asset Securities
Corporation, as depositor, Wells Fargo Bank, N.A., as master servicer, and HSBC
Bank USA, National Association, as trustee, the undersigned, as [__________],
hereby notifies you that certain events have come to our attention that [will]
[may] need to be disclosed on Form [10-D][10-K][8-K].

Description of [Additional Form [10-D][10-K] Disclosure][Form 8-K Disclosure
Information]:

List of any Attachments hereto to be included in the Additional Form
[10-D][10-K] Disclosure][Form 8-K Disclosure Information]:

            Any inquiries related to this notification should be directed to
[_______________________], phone number: [_________]; email address:
[___________________].

                                                [NAME OF PARTY],
                                                as [role]

                                                By:
                                                   -----------------------------
                                                   Name:
                                                   Title:

<PAGE>

                                    EXHIBIT W

                                Combination Group

 Exchangeable REMIC Certificates          Exchangeable Certificates
-----------------------------------   -----------------------------------
                  Maximum Initial                       Maximum Initial
Exchangeable   Principal Balance or   Exchangeable   Principal Balance or
REMIC Class     Notional Amount (1)   Combination     Notional Amount (1)
------------   --------------------   ------------   --------------------
 Class A-9          $15,131,919        Class A-50         $15,131,919

                                       Class A-51         $90,791,514

      (1) Exchangeable REMIC Certificates and Exchangeable Certificates in the
above combination may be exchanged only in the proportion that the Maximum
Initial Principal Balance or Maximum Initial Notional Amount of each indicated
Class bear to one another as shown above.

<PAGE>

                                    EXHIBIT X

 FORM OF REQUEST FOR EXCHANGE OF EXCHANGEABLE REMIC CERTIFICATES OR EXCHANGEABLE
                                  CERTIFICATES

                              [__________ __, ____]

Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, Maryland 21045
Attn: WFMBS 2007-7

      Re:   Wells Fargo Asset Securities Corporation, Mortgage Pass-Through
            Certificates, Series 2007-7

Ladies and Gentlemen:

            Pursuant to the terms of that certain Pooling and Servicing
Agreement dated as of May 30, 2007 (the "Pooling and Servicing Agreement"),
among Wells Fargo Asset Securities Corporation, as depositor, Wells Fargo Bank,
N.A., as master servicer, and HSBC Bank USA, National Association, as trustee,
we hereby present and surrender the [Exchangeable REMIC Certificates specified
on Schedule I attached hereto (the "Exchangeable REMIC
Certificates")][Exchangeable Certificates specified on Schedule I attached
hereto (the "Exchangeable Certificates")] and transfer, assign, set over and
otherwise convey to the Master Servicer, all of our right, title and interest
in and to the [Exchangeable REMIC Certificates][Exchangeable Certificates],
including all payments of interest thereon received after May 30, 2007, in
exchange for the [Exchangeable Certificates specified on Schedule I attached
hereto (the "Exchangeable Certificates")][Exchangeable REMIC Certificates
specified on Schedule I attached hereto (the "Exchangeable REMIC
Certificates")].

            We agree that upon such exchange the portions of the [Exchangeable
REMIC Certificates][Exchangeable Certificates] designated for exchange shall be
deemed cancelled and replaced by the [Exchangeable Certificates][Exchangeable
REMIC Certificates] issued in exchange therefor. We confirm that we have paid a
fee to the Master Servicer in connection with each such exchange equal to
$5,000.

            Account Details for payments to the Master Servicer:

            Wells Fargo Bank, N.A.
            San Francisco, CA
            ABA #: 121-000-248
            Acct Name: SAS Clearing
            For Further Credit: Account #[     ] - WFMBS 2007-7 Exchange Fee

<PAGE>

                                         Sincerely,

                                         By:________________________________
                                            Name:
                                            Title:

<PAGE>

                                         Acknowledged by:

                                         WELLS FARGO BANK, N.A.,
                                           as Master Servicer

                                         By:________________________________
                                            Name:
                                            Title:

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