Document:

AGREEMENT

    

    AGREEMENT entered into this
20th day of April, 2010 between GLOBAL TELESAT CORP., a
Virginia corporation with offices at 51 Lyon Ridge Road, Katonah, New York 10536
(“GTC”) and SANSWIRE CORP., a Delaware
corporation with offices at 17501 Biscayne Blvd, Suite 430, Aventura, Florida
33160 (“Sanswire”).

    

    RECITALS

    

    WHEREAS, Sanswire owns certain
components to an Airship (defined herein) which requires further development
work and funding before it can be marketed commercially to government and/or
private users thereof; and

    

    WHEREAS, GTC has certain
existing and potential customers who may have an interest in purchasing or
otherwise utilizing the Airship and, therefore, wishes to purchase an interest
therein to provide the funding necessary to complete the requisite development
work so that the Airship can be tested and demonstrated to potential customers,
all on and subject to the terms and conditions hereinafter set
forth.

    

    NOW, THEREFORE, in
consideration of the mutual promises and consideration contained herein, the
parties agree as follows:

    

    ARTICLE
1

    THE
AIRSHIP

    

    1.1.           The
term “Airship” shall
mean that singular airship to be delivered as per Section 1.2, designated
“SkySat Serial No. 0001,” it’s envelope and outer shell and all of the
components listed on Exhibit A hereto which has been designated and is known by
“Skysat” and not the
intellectual property related thereto and/or any license to build any additional
Airships.

    

    1.2.           Sanswire
shall, at its sole cost and expense, deliver the Airship  to a
destination and facility designated by GTC (the “Facility”).

    

    1.3.           The
Airship as delivered to the Facility will not have a complete system of required
electronic components necessary to deliver a completed Airship.  The
development work and activities contemplated by this Agreement will consist
principally of completing and installing various electronic components for the
Airship.  Sanswire will engage an engineering contractor approved by
GTC to complete all of such development work and has estimated that the
development activities will be completed no later than December 30,
2010.  Sanswire will report regularly to GTC with respect to the
progress of the development work on the Airship and hereby authorizes GTC to
discuss the same with the aforementioned engineering contractor and to inspect
the development work at the Facility.  Sanswire will notify GTC when
the development work has been completed.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    1.4.           Notwithstanding
any term or provision of this Agreement to the contrary, GTC’s obligations under
this Agreement are conditioned upon and subject to GTC’s inspection of the
Airship after it arrives at the Facility and GTC’s determination, in its sole
discretion, that all of the components thereof have been delivered and are in
satisfactory condition to perform the development work contemplated under this
Agreement.

    

    1.5.           Sanswire
will provide to the aforementioned engineering contractor all required technical
assistance and information relating to the Airship, including, without
limitation, all necessary design materials, documents, and blueprints in order
to assist such engineering contractor in the completion of the requisite
development work on the Airship.

    

    ARTICLE
2

    PURCHASE PRICE; DEVELOPMENT
FUNDING

    

    2.1.           Subject
to satisfaction of the conditions set forth in Section 1.4 hereof, GTC will
purchase a 50% ownership interest in the Airship for a purchase price of
$250,000 (the “Purchase Price”).

    

    2.2.           The
Purchase Price shall be payable as follows:

    

    (i)           $[.
.. .](Confidential Treatment Requested)*
within three (3) business days after satisfaction of the condition in Section
1.4 hereof;

    

    (ii)           four
(4) equal payments of $[. . . .](Confidential
Treatment Requested)*  each on thirty (30) day intervals
following the initial payment referred to in clause (i) above;

    

    (iii)           In
the event that GTC fails to make any of the payments under subsection (ii)
above, when due, unless such failure is caused in whole or in part by a breach
by Sanswire of any of its representations, warranties, covenants or obligations
under this Agreement, then Sanswire can terminate this Agreement thereafter upon
notice to GTC within thirty (30) days after any such failure, provided that it
gives notice of any such payment failure to GTC and GTC fails to cure such
failure within ten (10) days after receipt of any such notice.  If
this Agreement is terminated, as aforesaid, neither Sanswire nor GTC shall have
any further obligation hereunder or in connection herewith and GTC shall not
have any ownership rights as contemplated herein

    

    2.3.           Upon
GTC’s payment of the final $[. . . ](Confidential Treatment
Requested)*  referred to in Section 2.2(ii) above, Sanswire
will execute and deliver to GTC a bill of sale in the form annexed hereto as
Exhibit B

    

    2.4.           Notwithstanding
any provision of this Agreement to the contrary, in the event that the Airship
is not delivered or, if so, but not thereafter approved by GTC as provided in
Sections 1.2 and 1.4 hereof, in either case by April 30, 2010, GTC can terminate
this Agreement at any time thereafter upon notice to Sanswire and without any
further obligation of GTC hereunder or in connection herewith.

    
      
        *Confidential
Treatment is being requested for these sections pursuant to Rule 24-b2 under the
Securities Exchange Act of 1934 and applicable law.

         

      

      
        2

        
          

        

      

      
         

      

    

    

    2.5.           Sanswire
hereby acknowledges and agrees that the proceeds of the Purchase Price of $[ . .
.. ] (Confidential Treatment
Requested)*  for the first 50% of the Airship will be used
solely for completing the development work in connection with the Airship as
contemplated hereunder and for no other purpose.  Sanswire shall, upon
request of GTC, provide it with an accountings of all funds obtained by it from
GTC hereunder and shall allow GTC to inspect Sanswire’s books and records
relating thereto, during normal business hours upon prior notice to
Sanswire.

    

    2.6.           Sanswire
shall account to GTC for all revenues if, as and when received in connection
with the sale or use of the Airship by or to any third party at all times that
GTC retains an ownership interest therein.  In order to secure such
obligation, and the other covenants and obligations of Sanswire under this
Agreement, and in consideration of the Purchase Price payable by GTC hereunder,
as well as the option provided for in Article 3 hereof, Sanswire hereby grants
upon the payment in full of the Purchase Price, GTC a first lien and security
interest in and to the Airship (the “Security Interest”).  Sanswire
shall promptly file all UCC financing statements required to perfect the
Security Interest ( and will provide GTC with as filed copies thereof) and
hereby authorizes GTC as its attorney-in-fact to file all UCC financing
statements and all other documents which GTC determines are required to perfect
GTC’s Security Interest in the Airship and Sanswire will fully cooperate with
GTC in connection therewith. GTC will have all remedies of a secured creditor
under the applicable provisions of the Uniform Commercial Code in the event of
Sanswire’s breach of any of the aforementioned covenants and
obligations.

    

    ARTICLE
3

    PURCHASE
OPTION

    

    Sanswire
hereby grants GTC the exclusive right, at any time prior to December 31, 2010 to
notify Sanswire that it will purchase Sanswire’s remaining fifty percent (50%)
ownership interest in the Airship (SkySat Serial No. 0001) for $[. . . ](Confidential Treatment
Requested)*  (the “Option
Price”).  In such event, the Option Price shall be payable to
Sanswire as follows:  $[. . . ](Confidential Treatment
Requested)*  within ten (10) business days after GTC provides
any such notice to Sanswire and two subsequent equal payments of $[. . . ](Confidential Treatment
Requested)*  in thirty (30) day succeeding intervals
thereafter. Upon receipt by Sanswire of the Option Price, it will promptly
deliver to GTC a bill of sale and all other documents requested by GTC to
evidence GTC’s sole ownership thereof.

    

    ARTICLE
4

    COVENANTS AND RIGHTS OF
APPROVAL

    

    4.1.           
Until such time as either the Airship is sold to a third party or GTC no longer
has an ownership interest in the Airship, Sanswire will not:

    
      
        *Confidential
Treatment is being requested for these sections pursuant to Rule 24-b2 under the
Securities Exchange Act of 1934 and applicable law.

         

      

      
        3

        
          

        

      

      
         

      

    

    

    (a)           Grant
any lien or security interest to any third party in the Airship or otherwise
encumber the Airship, whether voluntarily or involuntarily;

    

    (b)          Transfer
or otherwise dispose of its ownership interest in the Airship;

    

    (c)          Grant
a license, option or any other right in or to the Airship to any third
party;

    

    (d)          Enter
into any agreement (including a demonstration agreement) with any third party
which in any way involves the Airship;

    

    (e)          Modify
the Airship in any way after the development work contemplated under this
Agreement has been completed;

    

    (f)           Move
or remove the Airship from the Facility, without the written consent of GTC;
or

    

    (g)          Engage
any engineering firm not approved by GTC to perform the development work
contemplated under this Agreement.

    

    4.2.          Sanswire
shall, promptly after its receipt thereof, provide to GTC copies of all
inquiries, proposals, or other communications in connection with any sale,
lease, license, or other disposition or arrangement proposed by any third party
with respect to the Airship.

    

    ARTICLE
5

    REPRESENTATIONS AND
WARRANTIES OF SANSWIRE

    

    To induce
GTC to enter into this Agreement and to consummate the transactions contemplated
hereby, Sanswire hereby makes the following representations and warranties to
GTC:

    

    5.1.         
Sanswire is the sole owner of the Airship and has good and marketable title to
the Airship, free and clear of all liens, claims or encumbrances
whatsoever.

    

    5.2.          This
Agreement has been duly and validly executed and delivered by Sanswire and
constitutes the valid and binding obligation of Sanswire, enforceable against
Sanswire in accordance with its terms, except (i) as limited by general
equitable principles and applicable bankruptcy, insolvency, reorganization,
moratorium and other laws of general application affecting enforcement of
creditors’ rights generally, and (ii) as limited by laws relating to the
availability of specific performance, injunctive relief or other equitable
remedies.

    

    5.3.        
The authorization, execution, delivery and performance of this Agreement and the
consummation of the transactions contemplated hereby will not result in any
violation or be in conflict with or constitute, with or without the passage of
time or giving of notice, or both, a breach or default under any instrument,
judgment, order, writ, decree or agreement to which the Sanswire is a party or
by which it is bound.

    
      
        *Confidential
Treatment is being requested for these sections pursuant to Rule 24-b2 under the
Securities Exchange Act of 1934 and applicable law.

         

      

      
        4

        
          

        

      

      
         

      

    

    

    5.4.           There
is no action, suit, proceeding, or investigation pending or, to the knowledge of
Sanswire, threatened against Sanswire which in any way relates to the validity
of this Agreement or the right of Sanswire to enter into or to consummate this
Agreement and/or the transactions contemplated hereby.

    

    5.5.           Both
the Purchase Price and the Option Price represent fair and valuable
consideration for the rights granted to GTC under this Agreement.

    

    5.6.           Sanswire
has not granted any third party any right, title or interest whatsoever in or to
the Airship.

    

    5.7.           The
Security Interest is a valid first perfected lien in the Airship.

    

    ARTICLE
6

    REPRESENTATIONS AND
WARRANTIES OF GTC

    

    To induce
Sanswire to enter into this Agreement and to consummate the transactions
contemplated hereby, GTC hereby makes the following representations and
warranties to Sanswire:

    

    6.1.           This
Agreement has been duly and validly executed and delivered by GTC and
constitutes the valid and binding obligation of GTC, enforceable against GTC in
accordance with its terms, except (i) as limited by general equitable principles
and applicable bankruptcy, insolvency, reorganization, moratorium and other laws
of general application affecting enforcement of creditors’ rights generally, and
(ii) as limited by laws relating to the availability of specific performance,
injunctive relief or other equitable remedies.

    

    6.2.         
 The authorization, execution, delivery and performance of this Agreement
and the consummation of the transactions contemplated hereby will not result in
any violation or be in conflict with or constitute, with or without the passage
of time or giving of notice, or both, a breach or default under any instrument,
judgment, order, writ, decree or agreement to which the GTC is a party or by
which it is bound.

    

    6.3.           There
is no action, suit, proceeding, or investigation pending or, to the knowledge of
GTC, threatened against GTC which in any way relates to the validity of this
Agreement or the right of GTC to enter into or to consummate this Agreement
and/or the transactions contemplated hereby.

    
      
        *Confidential
Treatment is being requested for these sections pursuant to Rule 24-b2 under the
Securities Exchange Act of 1934 and applicable law.

         

      

      
        5

        
          

        

      

      
         

      

    

    

    ARTICLE
7

    MISCELLANEOUS

    

    7.1.           This
Agreement, including the Exhibit hereto, constitutes the sole and entire
agreement between the parties hereto with respect to the subject matter hereof
and supersedes all prior agreements, representations, warranties, statements,
arrangements and understandings, whether oral or written, express or implied,
between the parties hereto with respect to the subject matter hereof and may not
be changed or modified except by an instrument in writing signed by the party to
be bound thereby.  No course of conduct or dealing or trade usage or
custom or course of performance by the parties hereto shall constitute or be
relied upon as a modification, supplement, or waiver of any provision of this
Agreement. This Agreement has been subject to the mutual consultation,
negotiation and agreement of the parties hereto and shall not be construed for
or against either party hereto on the basis of such party having drafted this
Agreement.

    

    7.2.           Each
party acknowledges that it has consulted such legal, financial, technical and
other experts as it deems necessary or desirable prior to entering into this
Agreement.  Each party represents and warrants that it has read,
knows, understands and agrees with the terms and conditions of this
Agreement.  Neither party has relied upon any oral representations of
the other party in entering into this Agreement.

    

    7.3.           All
notices, consents, requests, demands and other communications required or
permitted to be given under this Agreement shall be in writing and delivered
personally, receipt acknowledged, or mailed by registered or certified mail,
postage prepaid, return receipt requested, addressed to the parties hereto as
follows (or to such other addresses as either of the parties hereto shall
specify by notice given in accordance with this provision):

    

    
      	 
      	
              (i)

            	
              If
      to GTC, to it at:

            
	 
      	 
      	 
      
	 
      	 
      	
              Global
      Telesat Corp.

            
	 
      	 
      	
              51
      Lyon Ridge Road

            
	 
      	 
      	
              Katonah,
      New York 10536

            
	 
      	 
      	
              Attn:  David
      Phipps, President and Chief Executive Officer

            
	 
      	 
      	 
      
	 
      	 
      	
              with
      a copy to:

            
	 
      	 
      	 
      
	 
      	 
      	
              Robert
      L. Blessey, Esq.

            
	 
      	 
      	
              51
      Lyon Ridge Road

            
	 
      	 
      	
              Katonah,
      New York 10536

            
	 
      	 
      	 
      
	 
      	
              (ii)

            	
              If
      to Sanswire, to it at:

            
	 
      	 
      	 
      
	 
      	 
      	
              Sanswire
      Corp.

            
	 
      	 
      	
              17501
      Biscayne Blvd

            
	 
      	 
      	
              Suite
      430

            
	 
      	 
      	
              Aventura,
      Florida 33160

            
	 
      	 
      	
              Attn:  Thomas
      Seifert, Chief Financial
Officer

            

    

    
      
        *Confidential
Treatment is being requested for these sections pursuant to Rule 24-b2 under the
Securities Exchange Act of 1934 and applicable law.

         

      

      
        6

        
          

        

      

      
         

      

    

    

    All such
notices, consents, requests, demands and other communications shall be deemed
given when personally delivered as aforesaid, or, if mailed as aforesaid, on the
third business day after the mailing thereof or on the day actually received, if
earlier, except for a notice of a change of address which shall be effective
only upon receipt.

    

    7.4.           Neither
party hereto may assign this Agreement or its or their respective rights,
benefits or obligations hereunder without the written consent of the other party
hereto, except that GTC may assign any of its rights and/or obligations under
this Agreement to any third party selected by it upon notice to
Sanswire.

    

    7.5.           This
Agreement shall be binding upon and inure to the benefit of the parties hereto
and their successors and permitted assigns.  Nothing contained in this
Agreement is intended to confer upon any person or entity, other than the
parties hereto, or their respective successors or permitted assigns, any rights,
benefits, obligations, remedies or liabilities under or by reason of this
Agreement.

    

    7.6.           No
waiver of any provision of this Agreement or of any breach thereof shall be
effective unless in writing and signed by the party to be bound
thereby.  The waiver by either party hereto of a breach of any
provision of this Agreement, or of any representation, warranty, obligation or
covenant in this Agreement by the other party hereto, shall not be construed as
a waiver of any subsequent breach or of any other provision, representation,
warranty, obligation or covenant of such other party, unless the instrument of
waiver expressly so provides.

    

    7.7.           This
Agreement shall be governed by and construed in accordance with the laws of the
State of New York with respect to agreements made and to be fully performed
therein, without regard to the conflicts of laws principles
thereof.  The parties hereto hereby agree that any suit or proceeding
arising under this Agreement, or in connection with the consummation of the
transactions contemplated hereby, shall be brought solely in a federal or state
court located in the City, County and State of New York, or in any court of
competent jurisdiction selected by GTC, except for any suit or proceeding
seeking an equitable remedy hereunder which may be brought in any court of
competent jurisdiction.  By its execution hereof, Sanswire hereby
consents and irrevocably submits to the in personam jurisdiction of the federal
and state courts located in the City, County and State of New York (or any such
other court of competent jurisdiction) and agrees that any process in any suit
or proceeding commenced in such courts under this Agreement may be served upon
it personally or by certified or registered mail, return receipt requested, or
by Federal Express or other courier service, with the same force and effect as
if personally served upon it in New York City (or in the City or County in which
such other court is located). The parties hereto each waive any claim that any
such jurisdiction is not a convenient forum for any such suit or proceeding and
any defense of lack of in personam jurisdiction with respect
thereto.  Nothing in this Section shall affect the right of either of
the parties hereto to serve legal process in any other manner permitted by
law.

    

    7.8.           The
parties hereto hereby agree that, at any time and from time to time after the
date hereof, upon the reasonable request of the other party hereto, they shall
do, execute, acknowledge and deliver, or cause to be done, executed,
acknowledged and delivered, such further acts, deeds, assignments, transfers,
conveyances, and assurances as may be reasonably required to more effectively
consummate this Agreement and the transactions contemplated thereby or to
confirm or otherwise effectuate the provisions of this
Agreement.

    
      
        *Confidential
Treatment is being requested for these sections pursuant to Rule 24-b2 under the
Securities Exchange Act of 1934 and applicable law.

         

      

      
        7

        
          

        

      

      
         

      

    

    

    7.9.           Each
party hereto represents and warrants to the other that it has been represented
by counsel in connection with the negotiation, preparation, and consummation of
this Agreement.  Except as expressly provided in this Agreement, each
of the parties hereto shall bear all of their respective costs and expenses
incurred in connection with the negotiation, preparation, execution,
consummation, performance and/or enforcement of this Agreement, including,
without limitation, the fees and disbursements of their respective
counsel.   Notwithstanding the foregoing, in the event of any
action or proceeding instituted by either party hereto to enforce the provisions
of this Agreement, the party prevailing therein shall be entitled to
reimbursement by the other breaching party of the legal costs and expenses
incurred by the prevailing party in connection therewith. For purposes hereof,
“prevailing party” means the party in whose favor final judgment, after appeal
(if any), is rendered with respect to the claims asserted in any such action or
proceeding.

    

    7.10.         Sanswire
shall not issue any press release which includes or refers to GTC and in any way
relates to this Agreement, without the prior written consent of
GTC.

    

    7.11.         This
Agreement may be executed in one or more counterparts, each of which, when
executed and delivered, shall be deemed an original, but all of which when taken
together, shall constitute one and the same instrument.  It shall not
be necessary in making proof of this Agreement or any counterpart hereof to
produce or account for any of the other counterparts.  A copy of this
Agreement signed by one party and faxed to the other party shall be deemed to
have been executed and delivered by the signing party as though an
original.  A photocopy of this Agreement shall be effective as an
original for all purposes.

    

    7.12.         The
Section headings used in this Agreement have been used for convenience of
reference only and are not to be considered in construing or interpreting this
Agreement.

    

    7.13.         If
one or more provisions of this Agreement are held to be unenforceable under
applicable law, such provision(s) shall be excluded from this Agreement and the
balance of this Agreement shall remain in full force and effect.

    

    7.14.         No
remedy set forth in this Agreement is exclusive of any other available remedy or
remedies, whether legal or equitable, but each remedy is cumulative and in
addition to every other right or remedy given under this Agreement or now or
hereafter existing at law or in equity or by statute. Either party hereto may
pursue its rights and remedies concurrently or in any sequence and no exercise
of one right or remedy shall be deemed to be an election.

    

    7.15.         Unless
the context of this Agreement clearly requires otherwise, the plural includes
the singular, the singular includes the plural, the part includes the whole,
"including" is not limiting, and "or" has the inclusive meaning of the phrase
"and/or".  The words "hereof", "herein", "hereby", "hereunder" and
other similar terms in this Agreement refer to this Agreement as a whole and not
exclusively to any particular provision of this Agreement.

    
      
        *Confidential
Treatment is being requested for these sections pursuant to Rule 24-b2 under the
Securities Exchange Act of 1934 and applicable law.

         

      

      
        8

        
          

        

      

      
         

      

    

    

    IN WITNESS WHEREOF, the
parties hereto have hereunto set their hands and seals as of the day and year
first above written.

    

    
      	 
      	
              SANSWIRE
      CORP.

            
	 
      	 
      
	 
      	
              By:

            	
                 

            
	 
      	
              Thomas
      Seifert

            
	 
      	
              Chief
      Financial Officer

            
	 
      	 
      
	 
      	
              GLOBAL
      TELESAT CORP.

            
	 
      	 
      
	 
      	
              By:

            	
                 

            
	 
      	
              David
      R. Phipps, President and

            
	 
      	
              Chief
      Executive Officer

            

    

     

    
      
        *Confidential
Treatment is being requested for these sections pursuant to Rule 24-b2 under the
Securities Exchange Act of 1934 and applicable law.

         

      

      
        9

        
          

        

      

      
         

      

    

    

    EXHIBIT
A

    

    THE
AIRSHIP

    

    
      	
              Equipment

            	 
      	
              Quantity

            
	
              Gas
      Cells Bags

            	 
      	
              5

            
	
              Envelope

            	 
      	
              1

            
	
              Helium
      Valves

            	 
      	
              5

            
	
              Cable
      Set

            	 
      	
              1

            
	
              Blowers

            	 
      	
              9

            
	
              Gas
      Cell Holders

            	 
      	
              5

            
	
              Envelope
      Rigid Inserts

            	 
      	
              1

            
	
              Propellers,
      Design, Test & Manufacture.

            	 
      	
              3

            
	
              Cross
      Brace Structure Design & Construction for Fins & Keel
      Interface.

            	 
      	
              1

            
	
              Keel
      Structure, Design & Construction.

            	 
      	
              1

            
	
              Nose
      Mast, Design & Construction.

            	 
      	
              1

            
	
              Engine
      Mounts (Set of 3), Structure, Design & Construction.

            	
                

            	
              1

            

    

    

    *Subject
to final inspection of shipping crates

    
      
        *Confidential
Treatment is being requested for these sections pursuant to Rule 24-b2 under the
Securities Exchange Act of 1934 and applicable law.

         

      

      
        10

        
          

        

      

      
         

      

    

    EXHIBIT
B

    

    FORM OF BILL OF
SALE

    

    This Bill
of Sale (this “Bill of
Sale”) is made as of __________, 2010, by Sanswire Corp., a Delaware
corporation with offices at 17501 Biscayne Blvd., Suite 430, Aventura, Florida
33160  (“Sanswire”) in favor of Global
Telesat Corp., a Virginia corporation with offices at 51 Lyon Ridge Road,
Katonah, New York 10536 (“GTC“).

    

    Sanswire
and GTC have entered into an agreement dated April __, 2010 (the “Agreement”), pursuant to which
GTC purchased a fifty percent (50%) ownership interest in the
Airship.  All capitalized terms used but not defined in this Bill of
Sale shall have the meanings set forth in the Agreement.

     

    KNOW ALL MEN BY THESE
PRESENTS, that Sanswire, for good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, by these presents does hereby
grant, bargain, sell, transfer, set over, assign, convey, confirm and deliver
unto GTC, a fifty percent (50%) ownership interest in and to the Airship, free
and clear of all liens, claims and encumbrances whatsoever.

     

    TO HAVE AND TO HOLD THE SAME,
unto GTC and its successors and assigns forever, and Sanswire hereby represents
and warrants to GTC that Sanswire has good and marketable title in and to the
Airship, free and clear of all liens, claims and encumbrances
whatsoever.  Sanswire also hereby represents and warrants that it has
the right to sell an ownership interest in and to the Airship and will defend
the title to the same unto GTC and unto its successors and assigns forever,
against the claims and demands of any persons or entities
whomsoever.

     

    Sanswire
agrees, upon the reasonable request of GTC, to make, execute and deliver any and
all documents or instruments of any kind or character, and to perform all such
other actions that may be necessary or proper and reasonable to effectuate,
confirm, perform, or carry out the terms and provisions hereof.

     

    This Bill
of Sale and all questions relating to its validity, interpretation, performance
and enforcement shall be governed by and construed in accordance with the
internal laws of the State of New York without giving effect to principles of
conflicts of laws.

     

    IN WITNESS WHEREOF, Sanswire
has executed and delivered this Bill of Sale as of the date first written
above.

     

    
      
        	 
      	
                SANSWIRE
      CORP.

              
	 
      	 
      
	 
      	
                By:

              	
                   

              
	 
      	 
      
	 
      	
                   

              
	 
      	
                Print
      Name and Title

              

      

    

     

    
      
        *Confidential
Treatment is being requested for these sections pursuant to Rule 24-b2 under the
Securities Exchange Act of 1934 and applicable law.

         

      

      
        11Unassociated Document

    Collateral Term
Sheet

    

    Sequoia Mortgage Funding
Corporation/Sequoia Residential Funding, Inc. Depositors

    

    THE DEPOSITORS HAVE FILED A REGISTRATION
STATEMENT (INCLUDING A BASE PROSPECTUS) WITH THE SECURITIES AND EXCHANGE
COMMISSION, OR SEC, FOR AN OFFERING TO WHICH THIS COMMUNICATION
RELATES.  BEFORE YOU INVEST, YOU SHOULD READ THE BASE PROSPECTUS IN
THAT REGISTRATION STATEMENT AND OTHER DOCUMENTS THE DEPOSITORS HAVE FILED WITH
THE SEC FOR MORE COMPLETE INFORMATION ABOUT THE DEPOSITORS AND ANY SUCH
OFFERING. YOU MAY OBTAIN THESE DOCUMENTS AT NO
CHARGE BY VISITING EDGAR ON THE SEC WEB SITE AT WWW.SEC.GOV. ALTERNATIVELY, THE
DEPOSITORS WILL ARRANGE TO SEND YOU THE BASE PROSPECTUS AT NO CHARGE IF YOU
REQUEST IT BY CALLING THE INVESTOR RELATIONS DEPARTMENT (COLLECT) AT (415) 389-7373.

    

    The registration statement referred to
above relates to Commission File Numbers 333-159791,
333-159791-01.

    

    The information in this term sheet is
preliminary, and is subject to completion or change.  This term sheet
is being delivered to you
for the limited purpose of providing you with preliminary information about the
characteristics of a mortgage loan pool that may back an offering of
certificates.  Delivery of this information, by itself, is not
intended to serve as the basis for an investment
decision.  More complete information regarding an offering of
certificates, if any, backed by the pool of mortgage loans described herein or
backed by a pool of mortgage loans that may include some, but not all, of the
same mortgage loans included in the pool of mortgage loans
described herein will be made available if the Depositors determine to proceed
with any such offering.  No one has been authorized to enter into a
contract of sale on the basis of this information.  Any offer to
purchase made by you will not be accepted
and will not constitute a contractual commitment by you to purchase any of the
certificates, or a contract of sale, until an underwriter or dealer
participating in any such offering has accepted your offer to
purchase certificates.

    

    No person is obligated to issue
certificates or any similar security backed by the pool of mortgage loans
described herein or backed by a portion of the mortgage loans included in the
pool of mortgage loans described herein.  You are advised that, if any such certificates are
issued, the characteristics of the mortgage loan pool described herein may
change at any time prior to issuance of certificates backed by the mortgage loan
pool or availability of a final
prospectus.      The information set forth herein will be superseded by
subsequent information, including, without limitation, information about the
pool of mortgage loans described herein to the extent it has been conveyed prior
to the time that you enter into any contract of sale.

    

    This term sheet is not required to, and
does not, contain all information that is required to be included in a
prospectus and prospectus supplement for offered certificates.

    

    This term sheet is not an offer to sell
or a solicitation of an offer to buy securities in any state where such offer,
solicitation or sale is not permitted. 

    
      
         

      

      
        i

        
          

        

      

      
         

        Preliminary
Subject to Change

      

    

    

    

    
      
        	
                Summary
      Statistics

              	 
      	 
      	 
      	 
      
	
                Top 3 Product
      Types:

              	
                5/1 ARM

              	 
      	 
      	 
      
	 
      	
                100.0%

              	 
      	 
      	 
      
	
                Total Current
      Balance:

              	
                $308,917,645

              
	
                Total Number of Mortgage
      Loans:

              	 
      	
                332

              
	
                Average Current
      Balance:

              	 
      	
                $930,475

              
	
                Maximum Current
      Balance:

              	 
      	
                $2,992,608

              
	
                Minimum Current
      Balance:

              	 
      	
                $425,681

              
	
                Weighted Average Gross
      Rate:

              	 
      	 
      	 
      	
                4.97

              
	
                Weighted Average Season
      (WALA):

              	 
      	 
      	 
      	
                2

              
	
                % 1st Lien:

              	 
      	 
      	 
      	
                100.0%

              
	
                Weighted Average Original
      LTV:

              	 
      	 
      	 
      	
                60.2

              
	
                Weighted Average Original
      CLTV:

              	 
      	 
      	 
      	
                62.5

              
	
                Weighted Average
      FICO:

              	 
      	 
      	 
      	
                768

              
	
                Minimum
    FICO:

              	 
      	 
      	 
      	
                700

              
	
                % Interest Only
      (IO):

              	 
      	 
      	 
      	
                50.9%

              
	
                % Loans with Subordinate
      Financing:

              	 
      	 
      	 
      	
                19.9%

              
	
                % Full Doc:

              	 
      	 
      	 
      	
                100.0%

              
	
                % Cashout
      Refinance:

              	 
      	 
      	 
      	
                3.6%

              
	
                % Owner
      Occupied:

              	 
      	 
      	 
      	
                93.1%

              
	
                % Investor:

              	 
      	 
      	 
      	
                0.0%

              
	
                % With Prepay Penalty:

              	 
      	 
      	 
      	
                0.0%

              
	
                Weighted Average Back
      Debt-To-Income Ratio (BDTI):

              	 
      	 
      	
                27.5

              
	
                Top 5
    States:

              	
                CA

              	
                NY

              	
                CT

              	
                IL

              	
                TX

              
	 
      	
                37.7%

              	
                17.6%

              	
                7.0%

              	
                6.0%

              	
                5.3%

              

      

    

    

    

    
      
        11/19/2009

         

      

      
        1 of 15

        
          

        

      

      
         

        Preliminary
Subject to Change

      

    

    

    Product Type
Breakdown

    

    
      
        
          	
                  Product
Type

                	
                  # of

                  Loans

                	
                  Total Current

                  Balance

                	
                  % Total

                  Current

                  Balance

                	
                  Average

                  Current

                  Balance

                	
                  Gross

                  Rate

                	
                  WALA

                	
                  % 1st

                  Lien

                	
                  Orig

                  LTV

                	
                  Orig

                  CLTV

                	
                  %

                  SF/PUD

                	
                  %

                  Condo

                	
                  % Owner

                  Occupied

                	
                  %

                  Investor

                	
                  %

                  Purchase

                	
                  %

                  Cash

                  Out

                	
                  BDTI

                	
                  FICO

                	
                  % (FICO

                  < 660)

                	
                  %

                  Full Doc

                	
                  %

                  Non-Full

                  Doc

                
	
                  5/1 ARM

                	
                  332

                	
                  308,917,645

                	
                  100.0%

                	
                  930,475

                	
                  4.97

                	
                  2

                	
                  100.0%

                	
                  60.2

                	
                  62.5

                	
                  85.7%

                	
                  7.6%

                	
                  93.1%

                	
                  0.0%

                	
                  31.4%

                	
                  3.6%

                	
                  27.5

                	
                  768

                	
                  0.0%

                	
                  100.0%

                	
                  0.0%

                
	
                  Total:

                	
                  332

                	
                  308,917,645

                	
                  100.0%

                	
                  930,475

                	
                  4.97

                	
                  2

                	
                  100.0%

                	
                  60.2

                	
                  62.5

                	
                  85.7%

                	
                  7.6%

                	
                  93.1%

                	
                  0.0%

                	
                  31.4%

                	
                  3.6%

                	
                  27.5

                	
                  768

                	
                  0.0%

                	
                  100.0%

                	
                  0.0%

                

        

      

    

    

    Documentation
Breakdown

    

    
      
        
          	
                  Documentation

                	
                  # of

                  Loans

                	
                  Total Current

                  Balance

                	
                  % Total

                  Current

                  Balance

                	
                  Average

                  Current

                  Balance

                	
                  Gross

                  Rate

                	
                  WALA

                	
                  % 1st

                  Lien

                	
                  Orig

                  LTV

                	
                  Orig

                  CLTV

                	
                  %

                  SF/PUD

                	
                  %

                  Condo

                	
                  % Owner

                  Occupied

                	
                  %

                  Investor

                	
                  %

                  Purchase

                	
                  %

                  Cash

                  Out

                	
                  BDTI

                	
                  FICO

                	
                  % (FICO

                  < 660)

                	
                  %

                  Full Doc

                	
                  %

                  Non-Full

                  Doc

                
	
                  Full

                	
                  332

                	
                  308,917,645

                	
                  100.0%

                	
                  930,475

                	
                  4.97

                	
                  2

                	
                  100.0%

                	
                  60.2

                	
                  62.5

                	
                  85.7%

                	
                  7.6%

                	
                  93.1%

                	
                  0.0%

                	
                  31.4%

                	
                  3.6%

                	
                  27.5

                	
                  768

                	
                  0.0%

                	
                  100.0%

                	
                  0.0%

                
	
                  Total:

                	
                  332

                	
                  308,917,645

                	
                  100.0%

                	
                  930,475

                	
                  4.97

                	
                  2

                	
                  100.0%

                	
                  60.2

                	
                  62.5

                	
                  85.7%

                	
                  7.6%

                	
                  93.1%

                	
                  0.0%

                	
                  31.4%

                	
                  3.6%

                	
                  27.5

                	
                  768

                	
                  0.0%

                	
                  100.0%

                	
                  0.0%

                

        

      

    

    

    FICO Range
Breakdown

    

    
      
        
          
            	
                    FICO Range

                  	
                    # of

                    Loans

                  	
                    Total Current

                    Balance

                  	
                    % Total

                    Current

                    Balance

                  	
                    Average

                    Current

                    Balance

                  	
                    Gross

                    Rate

                  	
                    WALA

                  	
                    % 1st

                    Lien

                  	
                    Orig

                    LTV

                  	
                    Orig

                    CLTV

                  	
                    %

                    SF/PUD

                  	
                    %

                    Condo

                  	
                    % Owner

                    Occupied

                  	
                    %

                    Investor

                  	
                    %

                    Purchase

                  	
                    %

                    Cash

                    Out

                  	
                    BDTI

                  	
                    FICO

                  	
                    % (FICO

                    < 660)

                  	
                    %

                    Full Doc

                  	
                    %

                    Non-Full

                    Doc

                  
	
                    676-700

                  	
                    1

                  	
                    1,405,794

                  	
                    0.5%

                  	
                    1,405,794

                  	
                    5.50

                  	
                    7

                  	
                    100.0%

                  	
                    70.0

                  	
                    69.8

                  	
                    100.0%

                  	
                    0.0%

                  	
                    100.0%

                  	
                    0.0%

                  	
                    100.0%

                  	
                    0.0%

                  	
                    9.9

                  	
                    700

                  	
                    0.0%

                  	
                    100.0%

                  	
                    0.0%

                  
	
                    701-725

                  	
                    25

                  	
                    21,467,981

                  	
                    6.9%

                  	
                    858,719

                  	
                    5.05

                  	
                    2

                  	
                    100.0%

                  	
                    62.1

                  	
                    63.4

                  	
                    94.9%

                  	
                    0.0%

                  	
                    85.4%

                  	
                    0.0%

                  	
                    45.4%

                  	
                    5.1%

                  	
                    28.6

                  	
                    716

                  	
                    0.0%

                  	
                    100.0%

                  	
                    0.0%

                  
	
                    726-750

                  	
                    53

                  	
                    56,293,752

                  	
                    18.2%

                  	
                    1,062,146

                  	
                    4.98

                  	
                    2

                  	
                    100.0%

                  	
                    56.4

                  	
                    59.6

                  	
                    85.4%

                  	
                    4.5%

                  	
                    81.9%

                  	
                    0.0%

                  	
                    24.3%

                  	
                    2.7%

                  	
                    28.7

                  	
                    739

                  	
                    0.0%

                  	
                    100.0%

                  	
                    0.0%

                  
	
                    751-775

                  	
                    91

                  	
                    88,105,706

                  	
                    28.5%

                  	
                    968,195

                  	
                    5.02

                  	
                    2

                  	
                    100.0%

                  	
                    59.2

                  	
                    61.9

                  	
                    80.0%

                  	
                    9.8%

                  	
                    95.7%

                  	
                    0.0%

                  	
                    36.2%

                  	
                    2.8%

                  	
                    28.2

                  	
                    764

                  	
                    0.0%

                  	
                    100.0%

                  	
                    0.0%

                  
	
                    776-800

                  	
                    139

                  	
                    120,702,114

                  	
                    39.1%

                  	
                    868,361

                  	
                    4.91

                  	
                    2

                  	
                    100.0%

                  	
                    62.5

                  	
                    64.6

                  	
                    86.2%

                  	
                    9.7%

                  	
                    97.3%

                  	
                    0.0%

                  	
                    29.7%

                  	
                    5.0%

                  	
                    26.2

                  	
                    787

                  	
                    0.0%

                  	
                    100.0%

                  	
                    0.0%

                  
	
                    801-825

                  	
                    23

                  	
                    20,942,297

                  	
                    6.8%

                  	
                    910,535

                  	
                    4.95

                  	
                    2

                  	
                    100.0%

                  	
                    58.4

                  	
                    59.7

                  	
                    97.3%

                  	
                    2.7%

                  	
                    96.0%

                  	
                    0.0%

                  	
                    21.2%

                  	
                    0.0%

                  	
                    29.7

                  	
                    807

                  	
                    0.0%

                  	
                    100.0%

                  	
                    0.0%

                  
	
                    Total:

                  	
                    332

                  	
                    308,917,645

                  	
                    100.0%

                  	
                    930,475

                  	
                    4.97

                  	
                    2

                  	
                    100.0%

                  	
                    60.2

                  	
                    62.5

                  	
                    85.7%

                  	
                    7.6%

                  	
                    93.1%

                  	
                    0.0%

                  	
                    31.4%

                  	
                    3.6%

                  	
                    27.5

                  	
                    768

                  	
                    0.0%

                  	
                    100.0%

                  	
                    0.0%

                  

          

        

      

    

    

    

    
      
        11/19/2009

         

      

      
        2 of 15

        
          

        

      

      
         

        Preliminary
Subject to Change

      

    

    

    Property Type
Breakdown

    

    
      
        	
                Property
    Type

              	
                # of

                Loans

              	
                Total Current

                Balance

              	
                % Total

                Current

                Balance

              	
                Average

                Current

                Balance

              	
                Gross

                Rate

              	
                WALA

              	
                % 1st

                Lien

              	
                Orig

                LTV

              	
                Orig

                CLTV

              	
                %

                SF/PUD

              	
                %

                Condo

              	
                % Owner

                Occupied

              	
                %

                Investor

              	
                %

                Purchase

              	
                %

                Cash

                Out

              	
                BDTI

              	
                FICO

              	
                % (FICO

                < 660)

              	
                %

                Full Doc

              	
                %

                Non-Full

                Doc

              
	
                Single
    Family

              	
                192

              	
                186,960,403

              	
                60.5%

              	
                973,752

              	
                4.96

              	
                2

              	
                100.0%

              	
                59.4

              	
                62.3

              	
                100.0%

              	
                0.0%

              	
                91.9%

              	
                0.0%

              	
                29.7%

              	
                4.2%

              	
                26.8

              	
                766

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                PUD

              	
                93

              	
                77,720,353

              	
                25.2%

              	
                835,703

              	
                4.95

              	
                2

              	
                100.0%

              	
                64.8

              	
                66.5

              	
                100.0%

              	
                0.0%

              	
                93.5%

              	
                0.0%

              	
                43.1%

              	
                1.3%

              	
                29.4

              	
                771

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                Co-op

              	
                19

              	
                19,346,088

              	
                6.3%

              	
                1,018,215

              	
                5.14

              	
                2

              	
                100.0%

              	
                52.2

              	
                53.4

              	
                0.0%

              	
                0.0%

              	
                100.0%

              	
                0.0%

              	
                11.6%

              	
                9.6%

              	
                28.7

              	
                759

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                Condo

              	
                26

              	
                23,427,801

              	
                7.6%

              	
                901,069

              	
                4.91

              	
                2

              	
                100.0%

              	
                58.1

              	
                59.5

              	
                0.0%

              	
                100.0%

              	
                95.8%

              	
                0.0%

              	
                20.3%

              	
                0.0%

              	
                25.7

              	
                775

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                2-4 Family

              	
                2

              	
                1,463,000

              	
                0.5%

              	
                731,500

              	
                5.04

              	
                0

              	
                100.0%

              	
                52.9

              	
                56.5

              	
                0.0%

              	
                0.0%

              	
                100.0%

              	
                0.0%

              	
                68.4%

              	
                31.6%

              	
                34.6

              	
                767

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                Total:

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              

      

    

    

    Occupancy
Breakdown

    

    
      
        	
                Occupancy

              	
                # of

                Loans

              	
                Total Current

                Balance

              	
                % Total

                Current

                Balance

              	
                Average

                Current

                Balance

              	
                Gross

                Rate

              	
                WALA

              	
                % 1st

                Lien

              	
                Orig

                LTV

              	
                Orig

                CLTV

              	
                %

                SF/PUD

              	
                %

                Condo

              	
                % Owner

                Occupied

              	
                %

                Investor

              	
                %

                Purchase

              	
                %

                Cash

                Out

              	
                BDTI

              	
                FICO

              	
                % (FICO

                < 660)

              	
                %

                Full Doc

              	
                %

                Non-Full

                Doc

              
	
                Primary

              	
                317

              	
                287,753,030

              	
                93.1%

              	
                907,738

              	
                4.96

              	
                2

              	
                100.0%

              	
                60.8

              	
                63.2

              	
                85.0%

              	
                7.8%

              	
                100.0%

              	
                0.0%

              	
                30.7%

              	
                3.9%

              	
                27.6

              	
                769

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                Secondary
    Home

              	
                15

              	
                21,164,615

              	
                6.9%

              	
                1,410,974

              	
                5.02

              	
                3

              	
                100.0%

              	
                52.3

              	
                53.8

              	
                95.3%

              	
                4.7%

              	
                0.0%

              	
                0.0%

              	
                41.6%

              	
                0.0%

              	
                26.5

              	
                749

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                Total:

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              

      

    

    

    Purpose
Breakdown

    

    

    
      
        	
                Purpose

              	
                # of

                Loans

              	
                Total Current

                Balance

              	
                % Total

                Current

                Balance

              	
                Average

                Current

                Balance

              	
                Gross

                Rate

              	
                WALA

              	
                % 1st

                Lien

              	
                Orig

                LTV

              	
                Orig

                CLTV

              	
                %

                SF/PUD

              	
                %

                Condo

              	
                % Owner

                Occupied

              	
                %

                Investor

              	
                %

                Purchase

              	
                %

                Cash

                Out

              	
                BDTI

              	
                FICO

              	
                % (FICO

                < 660)

              	
                %

                Full Doc

              	
                %

                Non-Full

                Doc

              
	
                Cash Out
    Refi

              	
                11

              	
                11,080,069

              	
                3.6%

              	
                1,007,279

              	
                4.95

              	
                2

              	
                100.0%

              	
                47.2

              	
                51.7

              	
                79.1%

              	
                0.0%

              	
                100.0%

              	
                0.0%

              	
                0.0%

              	
                100.0%

              	
                23.5

              	
                767

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                Purchase

              	
                108

              	
                97,055,325

              	
                31.4%

              	
                898,660

              	
                5.07

              	
                2

              	
                100.0%

              	
                69.1

              	
                69.3

              	
                91.8%

              	
                4.9%

              	
                90.9%

              	
                0.0%

              	
                100.0%

              	
                0.0%

              	
                27.5

              	
                765

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                Rate Term
    Refi

              	
                213

              	
                200,782,251

              	
                65.0%

              	
                942,640

              	
                4.92

              	
                2

              	
                100.0%

              	
                56.6

              	
                59.9

              	
                83.1%

              	
                9.3%

              	
                93.8%

              	
                0.0%

              	
                0.0%

              	
                0.0%

              	
                27.8

              	
                769

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                Total:

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              

      

    

    

    

    
      
        11/19/2009

         

      

      
        3 of 15

        
          

        

      

      
         

        Preliminary
Subject to Change

      

    

    

    Original LTV
Breakdown

    

    
      
        	
                Original
LTV

              	
                # of

                Loans

              	
                Total Current

                Balance

              	
                % Total

                Current

                Balance

              	
                Average

                Current

                Balance

              	
                Gross

                Rate

              	
                WALA

              	
                % 1st

                Lien

              	
                Orig

                LTV

              	
                Orig

                CLTV

              	
                %

                SF/PUD

              	
                %

                Condo

              	
                % Owner

                Occupied

              	
                %

                Investor

              	
                %

                Purchase

              	
                %

                Cash

                Out

              	
                BDTI

              	
                FICO

              	
                % (FICO

                < 660)

              	
                %

                Full Doc

              	
                %

                Non-Full

                Doc

              
	
                15.01-20.00

              	
                1

              	
                722,000

              	
                0.2%

              	
                722,000

              	
                4.88

              	
                1

              	
                100.0%

              	
                19.4

              	
                33.1

              	
                100.0%

              	
                0.0%

              	
                100.0%

              	
                0.0%

              	
                0.0%

              	
                0.0%

              	
                27.4

              	
                759

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                20.01-25.00

              	
                2

              	
                1,637,100

              	
                0.5%

              	
                818,550

              	
                5.15

              	
                2

              	
                100.0%

              	
                24.3

              	
                27.3

              	
                54.2%

              	
                0.0%

              	
                100.0%

              	
                0.0%

              	
                0.0%

              	
                45.8%

              	
                24.1

              	
                741

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                25.01-30.00

              	
                10

              	
                10,391,760

              	
                3.4%

              	
                1,039,176

              	
                4.83

              	
                2

              	
                100.0%

              	
                28.0

              	
                30.2

              	
                67.8%

              	
                21.6%

              	
                82.7%

              	
                0.0%

              	
                0.0%

              	
                10.6%

              	
                18.0

              	
                761

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                30.01-35.00

              	
                6

              	
                5,182,153

              	
                1.7%

              	
                863,692

              	
                4.74

              	
                3

              	
                100.0%

              	
                33.2

              	
                40.1

              	
                100.0%

              	
                0.0%

              	
                100.0%

              	
                0.0%

              	
                19.2%

              	
                0.0%

              	
                28.0

              	
                774

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                35.01-40.00

              	
                14

              	
                14,448,577

              	
                4.7%

              	
                1,032,041

              	
                5.13

              	
                3

              	
                100.0%

              	
                36.5

              	
                41.2

              	
                72.1%

              	
                0.0%

              	
                100.0%

              	
                0.0%

              	
                9.7%

              	
                7.6%

              	
                27.2

              	
                776

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                40.01-45.00

              	
                25

              	
                25,058,614

              	
                8.1%

              	
                1,002,345

              	
                4.76

              	
                2

              	
                100.0%

              	
                43.1

              	
                47.7

              	
                85.1%

              	
                11.2%

              	
                86.2%

              	
                0.0%

              	
                6.0%

              	
                3.0%

              	
                30.2

              	
                763

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                45.01-50.00

              	
                24

              	
                28,089,088

              	
                9.1%

              	
                1,170,379

              	
                4.96

              	
                2

              	
                100.0%

              	
                47.8

              	
                52.5

              	
                86.3%

              	
                10.1%

              	
                82.3%

              	
                0.0%

              	
                16.1%

              	
                10.0%

              	
                24.0

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                50.01-55.00

              	
                21

              	
                22,211,232

              	
                7.2%

              	
                1,057,678

              	
                4.93

              	
                2

              	
                100.0%

              	
                52.8

              	
                58.3

              	
                86.9%

              	
                3.9%

              	
                84.1%

              	
                0.0%

              	
                23.4%

              	
                6.3%

              	
                26.1

              	
                751

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                55.01-60.00

              	
                40

              	
                39,707,170

              	
                12.9%

              	
                992,679

              	
                4.95

              	
                2

              	
                100.0%

              	
                57.9

              	
                61.1

              	
                89.4%

              	
                3.8%

              	
                94.9%

              	
                0.0%

              	
                26.5%

              	
                6.2%

              	
                28.3

              	
                772

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                60.01-65.00

              	
                29

              	
                28,110,249

              	
                9.1%

              	
                969,319

              	
                5.07

              	
                2

              	
                100.0%

              	
                63.1

              	
                64.1

              	
                63.3%

              	
                19.9%

              	
                89.5%

              	
                0.0%

              	
                18.2%

              	
                2.5%

              	
                28.0

              	
                763

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                65.01-70.00

              	
                52

              	
                50,022,790

              	
                16.2%

              	
                961,977

              	
                4.98

              	
                2

              	
                100.0%

              	
                68.7

              	
                69.7

              	
                89.8%

              	
                5.7%

              	
                96.8%

              	
                0.0%

              	
                35.2%

              	
                0.0%

              	
                26.7

              	
                766

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                70.01-75.00

              	
                34

              	
                32,853,552

              	
                10.6%

              	
                966,281

              	
                5.00

              	
                2

              	
                100.0%

              	
                74.0

              	
                74.3

              	
                90.7%

              	
                7.7%

              	
                97.4%

              	
                0.0%

              	
                44.9%

              	
                0.0%

              	
                26.9

              	
                776

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                75.01-80.00

              	
                74

              	
                50,483,361

              	
                16.3%

              	
                682,208

              	
                5.01

              	
                3

              	
                100.0%

              	
                79.4

              	
                79.4

              	
                94.2%

              	
                4.4%

              	
                100.0%

              	
                0.0%

              	
                70.3%

              	
                0.0%

              	
                31.3

              	
                771

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                Total:

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              

      

    

    

    

    
      
        11/19/2009

         

      

      
        4 of 15

        
          

        

      

      
         

        Preliminary
Subject to Change

      

    

    

    Original CLTV
Breakdown

    

    
      
        	
                CLTV Band

              	
                # of

                Loans

              	
                Total Current

                Balance

              	
                % Total

                Current

                Balance

              	
                Average

                Current

                Balance

              	
                Gross

                Rate

              	
                WALA

              	
                % 1st

                Lien

              	
                Orig

                LTV

              	
                Orig

                CLTV

              	
                %

                SF/PUD

              	
                %

                Condo

              	
                % Owner

                Occupied

              	
                %

                Investor

              	
                %

                Purchase

              	
                %

                Cash

                Out

              	
                BDTI

              	
                FICO

              	
                % (FICO

                < 660)

              	
                %

                Full Doc

              	
                %

                Non-Full

                Doc

              
	
                20.01-25.00

              	
                1

              	
                887,100

              	
                0.3%

              	
                887,100

              	
                4.75

              	
                1

              	
                100.0%

              	
                24.0

              	
                24.0

              	
                100.0%

              	
                0.0%

              	
                100.0%

              	
                0.0%

              	
                0.0%

              	
                0.0%

              	
                7.4

              	
                753

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                25.01-30.00

              	
                8

              	
                7,896,298

              	
                2.6%

              	
                987,037

              	
                4.87

              	
                2

              	
                100.0%

              	
                28.3

              	
                28.3

              	
                57.7%

              	
                28.4%

              	
                100.0%

              	
                0.0%

              	
                0.0%

              	
                13.9%

              	
                20.0

              	
                763

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                30.01-35.00

              	
                6

              	
                6,312,513

              	
                2.0%

              	
                1,052,086

              	
                4.82

              	
                3

              	
                100.0%

              	
                29.2

              	
                33.4

              	
                88.1%

              	
                0.0%

              	
                71.6%

              	
                0.0%

              	
                15.8%

              	
                11.9%

              	
                23.4

              	
                762

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                35.01-40.00

              	
                9

              	
                9,354,427

              	
                3.0%

              	
                1,039,381

              	
                5.12

              	
                3

              	
                100.0%

              	
                36.1

              	
                36.4

              	
                56.9%

              	
                0.0%

              	
                100.0%

              	
                0.0%

              	
                15.0%

              	
                0.0%

              	
                28.9

              	
                773

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                40.01-45.00

              	
                23

              	
                22,429,271

              	
                7.3%

              	
                975,186

              	
                4.79

              	
                2

              	
                100.0%

              	
                41.5

              	
                43.0

              	
                83.3%

              	
                12.6%

              	
                84.6%

              	
                0.0%

              	
                6.7%

              	
                3.3%

              	
                27.6

              	
                761

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                45.01-50.00

              	
                15

              	
                18,234,787

              	
                5.9%

              	
                1,215,652

              	
                4.91

              	
                3

              	
                100.0%

              	
                47.9

              	
                47.9

              	
                85.2%

              	
                9.3%

              	
                83.6%

              	
                0.0%

              	
                15.5%

              	
                6.7%

              	
                26.3

              	
                774

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                50.01-55.00

              	
                18

              	
                20,956,176

              	
                6.8%

              	
                1,164,232

              	
                4.97

              	
                3

              	
                100.0%

              	
                49.2

              	
                53.2

              	
                100.0%

              	
                0.0%

              	
                83.2%

              	
                0.0%

              	
                28.1%

              	
                11.9%

              	
                26.7

              	
                759

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                55.01-60.00

              	
                34

              	
                35,416,876

              	
                11.5%

              	
                1,041,673

              	
                4.96

              	
                2

              	
                100.0%

              	
                56.8

              	
                57.8

              	
                85.3%

              	
                4.3%

              	
                88.7%

              	
                0.0%

              	
                32.5%

              	
                6.9%

              	
                29.7

              	
                769

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                60.01-65.00

              	
                37

              	
                36,103,044

              	
                11.7%

              	
                975,758

              	
                5.03

              	
                2

              	
                100.0%

              	
                58.6

              	
                63.2

              	
                63.0%

              	
                21.1%

              	
                91.8%

              	
                0.0%

              	
                14.1%

              	
                6.4%

              	
                27.0

              	
                765

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                65.01-70.00

              	
                49

              	
                48,722,401

              	
                15.8%

              	
                994,335

              	
                4.97

              	
                2

              	
                100.0%

              	
                66.8

              	
                68.7

              	
                92.4%

              	
                3.9%

              	
                96.7%

              	
                0.0%

              	
                34.9%

              	
                0.0%

              	
                26.5

              	
                766

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                70.01-75.00

              	
                45

              	
                42,207,653

              	
                13.7%

              	
                937,948

              	
                4.97

              	
                2

              	
                100.0%

              	
                70.1

              	
                73.6

              	
                92.7%

              	
                6.0%

              	
                98.0%

              	
                0.0%

              	
                32.9%

              	
                0.0%

              	
                26.6

              	
                773

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                75.01-80.00

              	
                87

              	
                60,397,099

              	
                19.6%

              	
                694,220

              	
                5.01

              	
                2

              	
                100.0%

              	
                77.0

              	
                79.3

              	
                92.8%

              	
                5.2%

              	
                100.0%

              	
                0.0%

              	
                61.1%

              	
                0.0%

              	
                30.2

              	
                771

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                Total:

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              

      

    

    

    

    
      
        11/19/2009

         

      

      
        5 of 15

        
          

        

      

      
         

        Preliminary
Subject to Change

      

    

    

    WALA Range
Breakdown

    

    
      
        	
                WALA Range

              	
                # of

                Loans

              	
                Total Current

                Balance

              	
                % Total

                Current

                Balance

              	
                Average

                Current

                Balance

              	
                Gross

                Rate

              	
                WALA

              	
                % 1st

                Lien

              	
                Orig

                LTV

              	
                Orig

                CLTV

              	
                %

                SF/PUD

              	
                %

                Condo

              	
                % Owner

                Occupied

              	
                %

                Investor

              	
                %

                Purchase

              	
                %

                Cash

                Out

              	
                BDTI

              	
                FICO

              	
                % (FICO

                < 660)

              	
                %

                Full Doc

              	
                %

                Non-Full

                Doc

              
	
                0 - 3

              	
                272

              	
                252,646,337

              	
                81.8%

              	
                928,847

              	
                4.92

              	
                2

              	
                100.0%

              	
                59.9

              	
                62.5

              	
                84.6%

              	
                8.0%

              	
                94.2%

              	
                0.0%

              	
                28.8%

              	
                3.4%

              	
                27.7

              	
                767

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                4 - 6

              	
                56

              	
                50,079,229

              	
                16.2%

              	
                894,272

              	
                5.10

              	
                4

              	
                100.0%

              	
                61.8

              	
                63.5

              	
                93.8%

              	
                6.2%

              	
                87.1%

              	
                0.0%

              	
                45.8%

              	
                5.2%

              	
                26.4

              	
                774

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                7 - 9

              	
                4

              	
                6,192,078

              	
                2.0%

              	
                1,548,020

              	
                5.69

              	
                7

              	
                100.0%

              	
                56.4

              	
                56.4

              	
                65.8%

              	
                0.0%

              	
                100.0%

              	
                0.0%

              	
                22.7%

              	
                0.0%

              	
                29.9

              	
                737

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                Total:

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              

      

    

    

    

    
      
        11/19/2009

         

      

      
        6 of 15

        
          

        

      

      
         

        Preliminary
Subject to Change

      

    

    

    Current
Balance
Breakdown

    

    
      
        	
                Current
    Balance

              	
                # of

                Loans

              	
                Total Current

                Balance

              	
                % Total

                Current

                Balance

              	
                Average

                Current

                Balance

              	
                Gross

                Rate

              	
                WALA

              	
                % 1st

                Lien

              	
                Orig

                LTV

              	
                Orig

                CLTV

              	
                %

                SF/PUD

              	
                %

                Condo

              	
                % Owner

                Occupied

              	
                %

                Investor

              	
                %

                Purchase

              	
                %

                Cash

                Out

              	
                BDTI

              	
                FICO

              	
                % (FICO

                < 660)

              	
                %

                Full Doc

              	
                %

                Non-Full

                Doc

              
	
                400,001-500,000

              	
                18

              	
                8,433,293

              	
                2.7%

              	
                468,516

              	
                5.12

              	
                2

              	
                100.0%

              	
                68.2

              	
                70.2

              	
                88.9%

              	
                0.0%

              	
                89.4%

              	
                0.0%

              	
                55.1%

              	
                5.5%

              	
                30.7

              	
                776

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                500,001-600,000

              	
                33

              	
                17,995,289

              	
                5.8%

              	
                545,312

              	
                4.99

              	
                2

              	
                100.0%

              	
                70.4

              	
                72.0

              	
                90.9%

              	
                6.1%

              	
                100.0%

              	
                0.0%

              	
                48.0%

              	
                0.0%

              	
                29.6

              	
                762

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                600,001-700,000

              	
                39

              	
                25,702,190

              	
                8.3%

              	
                659,031

              	
                4.89

              	
                2

              	
                100.0%

              	
                64.4

              	
                68.7

              	
                84.4%

              	
                15.6%

              	
                100.0%

              	
                0.0%

              	
                36.4%

              	
                0.0%

              	
                25.8

              	
                772

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                700,001-800,000

              	
                48

              	
                35,960,977

              	
                11.6%

              	
                749,187

              	
                4.97

              	
                2

              	
                100.0%

              	
                64.0

              	
                65.9

              	
                93.8%

              	
                2.1%

              	
                97.9%

              	
                0.0%

              	
                21.4%

              	
                6.1%

              	
                27.7

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                800,001-900,000

              	
                43

              	
                36,510,875

              	
                11.8%

              	
                849,090

              	
                4.97

              	
                2

              	
                100.0%

              	
                61.3

              	
                64.0

              	
                78.8%

              	
                14.2%

              	
                97.7%

              	
                0.0%

              	
                30.1%

              	
                0.0%

              	
                27.5

              	
                775

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                900,001-1,000,000

              	
                58

              	
                56,281,740

              	
                18.2%

              	
                970,375

              	
                4.94

              	
                2

              	
                100.0%

              	
                58.4

              	
                61.3

              	
                81.0%

              	
                8.6%

              	
                98.2%

              	
                0.0%

              	
                24.1%

              	
                3.5%

              	
                29.8

              	
                773

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                1,000,001-1,100,000

              	
                17

              	
                18,195,737

              	
                5.9%

              	
                1,070,337

              	
                4.91

              	
                2

              	
                100.0%

              	
                56.0

              	
                60.7

              	
                82.4%

              	
                5.7%

              	
                100.0%

              	
                0.0%

              	
                17.8%

              	
                6.0%

              	
                26.8

              	
                758

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                1,100,001-1,200,000

              	
                22

              	
                25,420,986

              	
                8.2%

              	
                1,155,499

              	
                4.77

              	
                2

              	
                100.0%

              	
                60.0

              	
                61.1

              	
                86.5%

              	
                9.1%

              	
                95.5%

              	
                0.0%

              	
                40.8%

              	
                4.3%

              	
                22.0

              	
                763

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                1,200,001-1,300,000

              	
                11

              	
                13,693,572

              	
                4.4%

              	
                1,244,870

              	
                4.87

              	
                2

              	
                100.0%

              	
                54.5

              	
                57.8

              	
                82.1%

              	
                8.8%

              	
                90.5%

              	
                0.0%

              	
                36.7%

              	
                8.9%

              	
                22.4

              	
                771

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                1,300,001-1,400,000

              	
                9

              	
                12,271,388

              	
                4.0%

              	
                1,363,488

              	
                5.13

              	
                2

              	
                100.0%

              	
                64.1

              	
                65.2

              	
                89.2%

              	
                0.0%

              	
                100.0%

              	
                0.0%

              	
                44.4%

              	
                0.0%

              	
                23.3

              	
                778

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                1,400,001-1,500,000

              	
                14

              	
                20,569,364

              	
                6.7%

              	
                1,469,240

              	
                4.94

              	
                2

              	
                100.0%

              	
                56.2

              	
                56.2

              	
                78.4%

              	
                14.4%

              	
                85.4%

              	
                0.0%

              	
                35.5%

              	
                6.8%

              	
                27.3

              	
                755

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                1,500,001-1,600,000

              	
                3

              	
                4,707,232

              	
                1.5%

              	
                1,569,077

              	
                5.25

              	
                2

              	
                100.0%

              	
                57.7

              	
                63.3

              	
                100.0%

              	
                0.0%

              	
                66.2%

              	
                0.0%

              	
                33.8%

              	
                33.8%

              	
                17.3

              	
                775

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                1,600,001-1,700,000

              	
                4

              	
                6,619,830

              	
                2.1%

              	
                1,654,957

              	
                5.10

              	
                2

              	
                100.0%

              	
                61.5

              	
                61.6

              	
                100.0%

              	
                0.0%

              	
                100.0%

              	
                0.0%

              	
                50.6%

              	
                0.0%

              	
                29.3

              	
                785

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                1,700,001-1,800,000

              	
                1

              	
                1,795,462

              	
                0.6%

              	
                1,795,462

              	
                4.75

              	
                2

              	
                100.0%

              	
                27.7

              	
                33.1

              	
                100.0%

              	
                0.0%

              	
                0.0%

              	
                0.0%

              	
                0.0%

              	
                0.0%

              	
                11.2

              	
                741

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                1,800,001-1,900,000

              	
                2

              	
                3,719,000

              	
                1.2%

              	
                1,859,500

              	
                4.82

              	
                3

              	
                100.0%

              	
                53.7

              	
                53.7

              	
                100.0%

              	
                0.0%

              	
                100.0%

              	
                0.0%

              	
                0.0%

              	
                0.0%

              	
                31.9

              	
                786

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                1,900,001-2,000,000

              	
                7

              	
                13,733,103

              	
                4.4%

              	
                1,961,872

              	
                5.29

              	
                4

              	
                100.0%

              	
                57.8

              	
                59.5

              	
                100.0%

              	
                0.0%

              	
                57.3%

              	
                0.0%

              	
                42.8%

              	
                0.0%

              	
                34.9

              	
                749

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                2,100,001-2,200,000

              	
                2

              	
                4,315,000

              	
                1.4%

              	
                2,157,500

              	
                5.31

              	
                4

              	
                100.0%

              	
                39.3

              	
                39.3

              	
                51.0%

              	
                0.0%

              	
                100.0%

              	
                0.0%

              	
                0.0%

              	
                0.0%

              	
                41.9

              	
                743

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                2,900,001-3,000,000

              	
                1

              	
                2,992,608

              	
                1.0%

              	
                2,992,608

              	
                4.88

              	
                3

              	
                100.0%

              	
                48.4

              	
                48.4

              	
                100.0%

              	
                0.0%

              	
                0.0%

              	
                0.0%

              	
                0.0%

              	
                0.0%

              	
                32.8

              	
                742

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                Total:

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              

      

    

    

    

    
      
        11/19/2009

         

      

      
        7 of 15

        
          

        

      

      
         

        Preliminary
Subject to Change

      

    

    

    Back Debt-to-Income Ratio
(BDTI) Range Breakdown

    

    
      
        	
                BDTI Range

              	
                # of

                Loans

              	
                Total Current

                Balance

              	
                % Total

                Current

                Balance

              	
                Average

                Current

                Balance

              	
                Gross

                Rate

              	
                WALA

              	
                % 1st

                Lien

              	
                Orig

                LTV

              	
                Orig

                CLTV

              	
                %

                SF/PUD

              	
                %

                Condo

              	
                % Owner

                Occupied

              	
                %

                Investor

              	
                %

                Purchase

              	
                %

                Cash

                Out

              	
                BDTI

              	
                FICO

              	
                % (FICO

                < 660)

              	
                %

                Full Doc

              	
                %

                Non-Full

                Doc

              
	
                < 5.00

              	
                3

              	
                2,695,756

              	
                0.9%

              	
                898,585

              	
                4.63

              	
                2

              	
                100.0%

              	
                43.8

              	
                52.4

              	
                100.0%

              	
                0.0%

              	
                100.0%

              	
                0.0%

              	
                0.0%

              	
                0.0%

              	
                4.6

              	
                770

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                5.00-10.00

              	
                16

              	
                16,125,029

              	
                5.2%

              	
                1,007,814

              	
                4.89

              	
                2

              	
                100.0%

              	
                53.6

              	
                56.1

              	
                78.2%

              	
                14.9%

              	
                90.7%

              	
                0.0%

              	
                36.9%

              	
                9.9%

              	
                7.6

              	
                765

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                10.01-15.00

              	
                30

              	
                27,426,987

              	
                8.9%

              	
                914,233

              	
                4.89

              	
                2

              	
                100.0%

              	
                56.4

              	
                60.1

              	
                84.3%

              	
                7.3%

              	
                86.0%

              	
                0.0%

              	
                34.9%

              	
                0.0%

              	
                13.2

              	
                770

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                15.01-20.00

              	
                34

              	
                31,379,953

              	
                10.2%

              	
                922,940

              	
                4.93

              	
                2

              	
                100.0%

              	
                58.1

              	
                61.1

              	
                78.0%

              	
                11.1%

              	
                96.3%

              	
                0.0%

              	
                26.7%

              	
                7.4%

              	
                17.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                20.01-25.00

              	
                45

              	
                41,555,433

              	
                13.5%

              	
                923,454

              	
                4.93

              	
                2

              	
                100.0%

              	
                62.4

              	
                62.9

              	
                88.7%

              	
                8.0%

              	
                100.0%

              	
                0.0%

              	
                37.4%

              	
                5.8%

              	
                22.2

              	
                773

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                25.01-30.00

              	
                56

              	
                50,672,912

              	
                16.4%

              	
                904,873

              	
                4.92

              	
                2

              	
                100.0%

              	
                60.5

              	
                63.3

              	
                91.3%

              	
                5.9%

              	
                93.6%

              	
                0.0%

              	
                27.9%

              	
                5.0%

              	
                27.4

              	
                766

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                30.01-35.00

              	
                52

              	
                48,615,954

              	
                15.7%

              	
                934,922

              	
                5.07

              	
                2

              	
                100.0%

              	
                62.8

              	
                65.9

              	
                88.3%

              	
                7.6%

              	
                83.1%

              	
                0.0%

              	
                35.6%

              	
                0.0%

              	
                32.3

              	
                762

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                35.01-40.00

              	
                56

              	
                51,953,308

              	
                16.8%

              	
                927,738

              	
                4.93

              	
                2

              	
                100.0%

              	
                62.1

              	
                63.7

              	
                85.6%

              	
                5.7%

              	
                98.6%

              	
                0.0%

              	
                24.7%

              	
                1.4%

              	
                37.5

              	
                769

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                40.01-45.00

              	
                40

              	
                38,492,313

              	
                12.5%

              	
                962,308

              	
                5.12

              	
                2

              	
                100.0%

              	
                59.6

              	
                61.6

              	
                81.1%

              	
                6.7%

              	
                93.5%

              	
                0.0%

              	
                34.7%

              	
                3.9%

              	
                42.4

              	
                769

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                Total:

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              

      

    

    

    

    
      
        11/19/2009

         

      

      
        8 of 15

        
          

        

      

      
         

        Preliminary
Subject to Change

      

    

    

    Interest Only Term
Breakdown

    

    
      
        	
                IO Term

              	
                # of

                Loans

              	
                Total Current

                Balance

              	
                % Total

                Current

                Balance

              	
                Average

                Current

                Balance

              	
                Gross

                Rate

              	
                WALA

              	
                % 1st

                Lien

              	
                Orig

                LTV

              	
                Orig

                CLTV

              	
                %

                SF/PUD

              	
                %

                Condo

              	
                % Owner

                Occupied

              	
                %

                Investor

              	
                %

                Purchase

              	
                %

                Cash

                Out

              	
                BDTI

              	
                FICO

              	
                % (FICO

                < 660)

              	
                %

                Full Doc

              	
                %

                Non-Full

                Doc

              
	
                0

              	
                167

              	
                151,744,645

              	
                49.1%

              	
                908,651

              	
                5.01

              	
                3

              	
                100.0%

              	
                62.0

              	
                64.0

              	
                86.7%

              	
                6.8%

              	
                90.7%

              	
                0.0%

              	
                38.6%

              	
                3.2%

              	
                26.8

              	
                767

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                120

              	
                165

              	
                157,173,000

              	
                50.9%

              	
                952,564

              	
                4.92

              	
                2

              	
                100.0%

              	
                58.4

              	
                61.1

              	
                84.7%

              	
                8.3%

              	
                95.5%

              	
                0.0%

              	
                24.5%

              	
                3.9%

              	
                28.2

              	
                769

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                Total:

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              

      

    

    

    Original Term
Breakdown

    

    
      
        	
                Original
    Term

              	
                # of

                Loans

              	
                Total Current

                Balance

              	
                % Total

                Current

                Balance

              	
                Average

                Current

                Balance

              	
                Gross

                Rate

              	
                WALA

              	
                % 1st

                Lien

              	
                Orig

                LTV

              	
                Orig

                CLTV

              	
                %

                SF/PUD

              	
                %

                Condo

              	
                % Owner

                Occupied

              	
                %

                Investor

              	
                %

                Purchase

              	
                %

                Cash

                Out

              	
                BDTI

              	
                FICO

              	
                % (FICO

                < 660)

              	
                %

                Full Doc

              	
                %

                Non-Full

                Doc

              
	
                360

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                Total:

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              

      

    

    

    

    
      
        11/19/2009

         

      

      
        9 of 15

        
          

        

      

      
         

        Preliminary
Subject to Change

      

    

    

    Top 15
States

    

    
      
        	
                Property
    State

              	
                # of

                Loans

              	
                Total Current

                Balance

              	
                % Total

                Current

                Balance

              	
                Average

                Current

                Balance

              	
                Gross

                Rate

              	
                WALA

              	
                % 1st

                Lien

              	
                Orig

                LTV

              	
                Orig

                CLTV

              	
                %

                SF/PUD

              	
                %

                Condo

              	
                % Owner

                Occupied

              	
                %

                Investor

              	
                %

                Purchase

              	
                %

                Cash

                Out

              	
                BDTI

              	
                FICO

              	
                % (FICO

                < 660)

              	
                %

                Full Doc

              	
                %

                Non-Full

                Doc

              
	
                CA

              	
                119

              	
                116,445,475

              	
                37.7%

              	
                978,533

              	
                4.93

              	
                2

              	
                100.0%

              	
                58.7

              	
                61.3

              	
                97.5%

              	
                1.3%

              	
                98.5%

              	
                0.0%

              	
                21.0%

              	
                5.0%

              	
                29.7

              	
                773

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                NY

              	
                51

              	
                54,318,233

              	
                17.6%

              	
                1,065,063

              	
                4.90

              	
                2

              	
                100.0%

              	
                52.7

              	
                54.5

              	
                41.4%

              	
                22.9%

              	
                89.0%

              	
                0.0%

              	
                18.2%

              	
                4.8%

              	
                26.0

              	
                761

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                CT

              	
                19

              	
                21,586,110

              	
                7.0%

              	
                1,136,111

              	
                4.98

              	
                3

              	
                100.0%

              	
                55.0

              	
                58.6

              	
                100.0%

              	
                0.0%

              	
                90.9%

              	
                0.0%

              	
                42.6%

              	
                7.4%

              	
                22.2

              	
                772

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                IL

              	
                24

              	
                18,463,589

              	
                6.0%

              	
                769,316

              	
                5.20

              	
                3

              	
                100.0%

              	
                66.0

              	
                69.7

              	
                90.3%

              	
                9.7%

              	
                100.0%

              	
                0.0%

              	
                30.4%

              	
                0.0%

              	
                23.7

              	
                767

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                TX

              	
                21

              	
                16,517,458

              	
                5.3%

              	
                786,546

              	
                5.10

              	
                2

              	
                100.0%

              	
                67.6

              	
                68.1

              	
                93.9%

              	
                6.1%

              	
                92.2%

              	
                0.0%

              	
                80.4%

              	
                0.0%

              	
                30.4

              	
                766

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                MA

              	
                11

              	
                9,941,172

              	
                3.2%

              	
                903,743

              	
                4.94

              	
                2

              	
                100.0%

              	
                66.5

              	
                69.5

              	
                70.7%

              	
                29.3%

              	
                84.0%

              	
                0.0%

              	
                48.3%

              	
                0.0%

              	
                27.9

              	
                767

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                NJ

              	
                9

              	
                9,935,383

              	
                3.2%

              	
                1,103,931

              	
                4.89

              	
                2

              	
                100.0%

              	
                51.0

              	
                58.2

              	
                93.0%

              	
                7.0%

              	
                80.1%

              	
                0.0%

              	
                15.8%

              	
                11.0%

              	
                27.2

              	
                746

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                VA

              	
                8

              	
                6,966,875

              	
                2.3%

              	
                870,859

              	
                4.83

              	
                2

              	
                100.0%

              	
                75.8

              	
                75.8

              	
                100.0%

              	
                0.0%

              	
                100.0%

              	
                0.0%

              	
                60.6%

              	
                0.0%

              	
                26.6

              	
                764

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                CO

              	
                5

              	
                6,030,434

              	
                2.0%

              	
                1,206,087

              	
                4.92

              	
                3

              	
                100.0%

              	
                62.3

              	
                62.3

              	
                100.0%

              	
                0.0%

              	
                50.4%

              	
                0.0%

              	
                23.0%

              	
                0.0%

              	
                28.9

              	
                763

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                GA

              	
                7

              	
                4,840,217

              	
                1.6%

              	
                691,460

              	
                5.00

              	
                4

              	
                100.0%

              	
                74.9

              	
                74.9

              	
                100.0%

              	
                0.0%

              	
                100.0%

              	
                0.0%

              	
                56.0%

              	
                0.0%

              	
                30.8

              	
                767

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                WA

              	
                7

              	
                4,776,196

              	
                1.5%

              	
                682,314

              	
                5.12

              	
                3

              	
                100.0%

              	
                78.1

              	
                78.1

              	
                100.0%

              	
                0.0%

              	
                100.0%

              	
                0.0%

              	
                48.1%

              	
                0.0%

              	
                31.9

              	
                776

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                PA

              	
                6

              	
                3,969,319

              	
                1.3%

              	
                661,553

              	
                5.33

              	
                3

              	
                100.0%

              	
                69.6

              	
                69.6

              	
                82.5%

              	
                17.5%

              	
                100.0%

              	
                0.0%

              	
                81.4%

              	
                0.0%

              	
                29.0

              	
                745

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                FL

              	
                3

              	
                3,517,542

              	
                1.1%

              	
                1,172,514

              	
                5.09

              	
                4

              	
                100.0%

              	
                60.6

              	
                60.6

              	
                71.9%

              	
                28.1%

              	
                17.3%

              	
                0.0%

              	
                17.3%

              	
                0.0%

              	
                29.0

              	
                746

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                MI

              	
                5

              	
                3,493,283

              	
                1.1%

              	
                698,657

              	
                5.17

              	
                2

              	
                100.0%

              	
                51.6

              	
                51.6

              	
                78.8%

              	
                21.2%

              	
                100.0%

              	
                0.0%

              	
                36.6%

              	
                0.0%

              	
                17.4

              	
                769

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                NC

              	
                4

              	
                3,446,517

              	
                1.1%

              	
                861,629

              	
                4.53

              	
                3

              	
                100.0%

              	
                65.3

              	
                67.3

              	
                100.0%

              	
                0.0%

              	
                100.0%

              	
                0.0%

              	
                59.8%

              	
                0.0%

              	
                10.3

              	
                769

              	
                0.0%

              	
                100.0%

              	
                0.0%

              

      

    

    

    Top 10
Cities

    

    
      
        
          	
                  Property
    City

                	
                  # of

                  Loans

                	
                  Total Current

                  Balance

                	
                  % Total

                  Current

                  Balance

                	
                  Average

                  Current

                  Balance

                	
                  Gross

                  Rate

                	
                  WALA

                	
                  % 1st

                  Lien

                	
                  Orig

                  LTV

                	
                  Orig

                  CLTV

                	
                  %

                  SF/PUD

                	
                  %

                  Condo

                	
                  % Owner

                  Occupied

                	
                  %

                  Investor

                	
                  %

                  Purchase

                	
                  %

                  Cash

                  Out

                	
                  BDTI

                	
                  FICO

                	
                  % (FICO

                  < 660)

                	
                  %

                  Full Doc

                	
                  %

                  Non-Full

                  Doc

                
	
                  NEW YORK,
NY

                	
                  29

                	
                  30,171,785

                	
                  9.8%

                	
                  1,040,406

                	
                  5.00

                	
                  1

                	
                  100.0%

                	
                  52.5

                	
                  54.0

                	
                  2.4%

                	
                  41.3%

                	
                  100.0%

                	
                  0.0%

                	
                  10.3%

                	
                  6.1%

                	
                  25.9

                	
                  763

                	
                  0.0%

                	
                  100.0%

                	
                  0.0%

                
	
                  SARATOGA,
CA

                	
                  10

                	
                  9,349,866

                	
                  3.0%

                	
                  934,987

                	
                  4.83

                	
                  2

                	
                  100.0%

                	
                  46.8

                	
                  51.7

                	
                  100.0%

                	
                  0.0%

                	
                  100.0%

                	
                  0.0%

                	
                  10.5%

                	
                  0.0%

                	
                  26.7

                	
                  775

                	
                  0.0%

                	
                  100.0%

                	
                  0.0%

                
	
                  CHICAGO, IL

                	
                  10

                	
                  8,256,937

                	
                  2.7%

                	
                  825,694

                	
                  5.30

                	
                  3

                	
                  100.0%

                	
                  69.9

                	
                  71.7

                	
                  78.3%

                	
                  21.7%

                	
                  100.0%

                	
                  0.0%

                	
                  35.5%

                	
                  0.0%

                	
                  21.3

                	
                  763

                	
                  0.0%

                	
                  100.0%

                	
                  0.0%

                
	
                  PALO ALTO, CA

                	
                  6

                	
                  5,849,852

                	
                  1.9%

                	
                  974,975

                	
                  4.80

                	
                  2

                	
                  100.0%

                	
                  62.1

                	
                  62.1

                	
                  100.0%

                	
                  0.0%

                	
                  100.0%

                	
                  0.0%

                	
                  0.0%

                	
                  23.9%

                	
                  29.9

                	
                  779

                	
                  0.0%

                	
                  100.0%

                	
                  0.0%

                
	
                  DARIEN, CT

                	
                  4

                	
                  5,675,612

                	
                  1.8%

                	
                  1,418,903

                	
                  5.01

                	
                  3

                	
                  100.0%

                	
                  51.8

                	
                  60.6

                	
                  100.0%

                	
                  0.0%

                	
                  100.0%

                	
                  0.0%

                	
                  20.9%

                	
                  28.1%

                	
                  21.6

                	
                  785

                	
                  0.0%

                	
                  100.0%

                	
                  0.0%

                
	
                  NEWPORT BEACH, CA

                	
                  4

                	
                  5,506,306

                	
                  1.8%

                	
                  1,376,576

                	
                  5.20

                	
                  1

                	
                  100.0%

                	
                  51.4

                	
                  51.4

                	
                  100.0%

                	
                  0.0%

                	
                  100.0%

                	
                  0.0%

                	
                  45.3%

                	
                  0.0%

                	
                  36.4

                	
                  751

                	
                  0.0%

                	
                  100.0%

                	
                  0.0%

                
	
                  LOS ANGELES,
    CA

                	
                  5

                	
                  5,155,024

                	
                  1.7%

                	
                  1,031,005

                	
                  4.86

                	
                  2

                	
                  100.0%

                	
                  56.5

                	
                  59.5

                	
                  100.0%

                	
                  0.0%

                	
                  100.0%

                	
                  0.0%

                	
                  0.0%

                	
                  0.0%

                	
                  30.9

                	
                  766

                	
                  0.0%

                	
                  100.0%

                	
                  0.0%

                
	
                  SAN JOSE, CA

                	
                  7

                	
                  4,784,767

                	
                  1.5%

                	
                  683,538

                	
                  4.81

                	
                  2

                	
                  100.0%

                	
                  65.4

                	
                  67.9

                	
                  100.0%

                	
                  0.0%

                	
                  100.0%

                	
                  0.0%

                	
                  0.0%

                	
                  0.0%

                	
                  25.8

                	
                  776

                	
                  0.0%

                	
                  100.0%

                	
                  0.0%

                
	
                  HOUSTON, TX

                	
                  4

                	
                  4,408,059

                	
                  1.4%

                	
                  1,102,015

                	
                  5.44

                	
                  2

                	
                  100.0%

                	
                  65.2

                	
                  67.1

                	
                  77.3%

                	
                  22.7%

                	
                  100.0%

                	
                  0.0%

                	
                  76.1%

                	
                  0.0%

                	
                  26.9

                	
                  746

                	
                  0.0%

                	
                  100.0%

                	
                  0.0%

                
	
                  MENLO PARK,
    CA

                	
                  3

                	
                  3,510,000

                	
                  1.1%

                	
                  1,170,000

                	
                  5.47

                	
                  2

                	
                  100.0%

                	
                  52.6

                	
                  57.2

                	
                  100.0%

                	
                  0.0%

                	
                  100.0%

                	
                  0.0%

                	
                  0.0%

                	
                  0.0%

                	
                  32.2

                	
                  781

                	
                  0.0%

                	
                  100.0%

                	
                  0.0%

                

        

      

    

    

    

    
      
        11/19/2009

         

      

      
        10 of 15

        
          

        

      

      
         

        Preliminary
Subject to Change

      

    

    

    Gross Rate
Breakdown

    

    
      
        	
                Gross Rate

              	
                # of

                Loans

              	
                Total Current

                Balance

              	
                % Total

                Current

                Balance

              	
                Average

                Current

                Balance

              	
                Gross

                Rate

              	
                WALA

              	
                % 1st

                Lien

              	
                Orig

                LTV

              	
                Orig

                CLTV

              	
                %

                SF/PUD

              	
                %

                Condo

              	
                % Owner

                Occupied

              	
                %

                Investor

              	
                %

                Purchase

              	
                %

                Cash

                Out

              	
                BDTI

              	
                FICO

              	
                % (FICO

                < 660)

              	
                %

                Full Doc

              	
                %

                Non-Full

                Doc

              
	
                3.751-4.000

              	
                1

              	
                937,383

              	
                0.3%

              	
                937,383

              	
                4.00

              	
                3

              	
                100.0%

              	
                76.5

              	
                76.5

              	
                100.0%

              	
                0.0%

              	
                100.0%

              	
                0.0%

              	
                100.0%

              	
                0.0%

              	
                12.8

              	
                796

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                4.001-4.250

              	
                6

              	
                5,397,575

              	
                1.7%

              	
                899,596

              	
                4.21

              	
                3

              	
                100.0%

              	
                63.0

              	
                63.0

              	
                100.0%

              	
                0.0%

              	
                100.0%

              	
                0.0%

              	
                75.9%

              	
                0.0%

              	
                22.3

              	
                782

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                4.251-4.500

              	
                34

              	
                30,750,602

              	
                10.0%

              	
                904,429

              	
                4.47

              	
                2

              	
                100.0%

              	
                62.3

              	
                64.6

              	
                94.3%

              	
                5.7%

              	
                96.1%

              	
                0.0%

              	
                36.5%

              	
                0.0%

              	
                28.1

              	
                765

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                4.501-4.750

              	
                85

              	
                77,025,148

              	
                24.9%

              	
                906,178

              	
                4.69

              	
                2

              	
                100.0%

              	
                56.9

              	
                59.3

              	
                84.7%

              	
                11.6%

              	
                92.5%

              	
                0.0%

              	
                17.0%

              	
                4.1%

              	
                25.2

              	
                769

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                4.751-5.000

              	
                91

              	
                88,205,903

              	
                28.6%

              	
                969,296

              	
                4.93

              	
                2

              	
                100.0%

              	
                58.1

              	
                60.7

              	
                85.2%

              	
                6.2%

              	
                92.7%

              	
                0.0%

              	
                17.7%

              	
                5.5%

              	
                28.4

              	
                771

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                5.001-5.250

              	
                51

              	
                48,118,753

              	
                15.6%

              	
                943,505

              	
                5.19

              	
                2

              	
                100.0%

              	
                61.9

              	
                64.7

              	
                79.7%

              	
                10.1%

              	
                90.5%

              	
                0.0%

              	
                40.1%

              	
                4.8%

              	
                27.4

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                5.251-5.500

              	
                39

              	
                34,665,078

              	
                11.2%

              	
                888,848

              	
                5.43

              	
                3

              	
                100.0%

              	
                63.9

              	
                66.5

              	
                85.3%

              	
                6.8%

              	
                97.6%

              	
                0.0%

              	
                49.7%

              	
                0.0%

              	
                28.5

              	
                765

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                5.501-5.750

              	
                25

              	
                23,817,204

              	
                7.7%

              	
                952,688

              	
                5.70

              	
                4

              	
                100.0%

              	
                65.5

              	
                66.3

              	
                88.0%

              	
                0.0%

              	
                89.8%

              	
                0.0%

              	
                65.6%

              	
                3.1%

              	
                32.0

              	
                753

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                Total:

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              

      

    

    

    

    
      
        11/19/2009

         

      

      
        11 of 15

        
          

        

      

      
         

        Preliminary
Subject to Change

      

    

    

    Gross Margin
Breakdown

    

    
      
        	
                Gross
Margin

              	
                # of

                Loans

              	
                Total Current

                Balance

              	
                % Total

                Current

                Balance

              	
                Average

                Current

                Balance

              	
                Gross

                Rate

              	
                WALA

              	
                % 1st

                Lien

              	
                Orig

                LTV

              	
                Orig

                CLTV

              	
                %

                SF/PUD

              	
                %

                Condo

              	
                % Owner

                Occupied

              	
                %

                Investor

              	
                %

                Purchase

              	
                %

                Cash

                Out

              	
                BDTI

              	
                FICO

              	
                % (FICO

                < 660)

              	
                %

                Full Doc

              	
                %

                Non-Full

                Doc

              
	
                2.001-2.250

              	
                304

              	
                265,487,110

              	
                85.9%

              	
                873,313

              	
                4.91

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.7

              	
                85.7%

              	
                7.8%

              	
                95.2%

              	
                0.0%

              	
                29.3%

              	
                3.1%

              	
                27.5

              	
                769

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                2.251-2.500

              	
                28

              	
                43,430,535

              	
                14.1%

              	
                1,551,091

              	
                5.30

              	
                3

              	
                100.0%

              	
                60.2

              	
                61.7

              	
                85.6%

              	
                6.1%

              	
                80.4%

              	
                0.0%

              	
                44.1%

              	
                6.5%

              	
                28.0

              	
                762

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                Total:

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              

      

    

    

    Index
Breakdown

    

    
      
        	
                Index Type

              	
                # of

                Loans

              	
                Total Current

                Balance

              	
                % Total

                Current

                Balance

              	
                Average

                Current

                Balance

              	
                Gross

                Rate

              	
                WALA

              	
                % 1st

                Lien

              	
                Orig

                LTV

              	
                Orig

                CLTV

              	
                %

                SF/PUD

              	
                %

                Condo

              	
                % Owner

                Occupied

              	
                %

                Investor

              	
                %

                Purchase

              	
                %

                Cash

                Out

              	
                BDTI

              	
                FICO

              	
                % (FICO

                < 660)

              	
                %

                Full Doc

              	
                %

                Non-Full

                Doc

              
	
                LIBOR 12 M

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                Total:

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              

      

    

    

    Negam Flag
Breakdown

    

    
      
        	
                Negam

              	
                # of

                Loans

              	
                Total Current

                Balance

              	
                % Total

                Current

                Balance

              	
                Average

                Current

                Balance

              	
                Gross

                Rate

              	
                WALA

              	
                % 1st

                Lien

              	
                Orig

                LTV

              	
                Orig

                CLTV

              	
                %

                SF/PUD

              	
                %

                Condo

              	
                % Owner

                Occupied

              	
                %

                Investor

              	
                %

                Purchase

              	
                %

                Cash

                Out

              	
                BDTI

              	
                FICO

              	
                % (FICO

                < 660)

              	
                %

                Full Doc

              	
                %

                Non-Full

                Doc

              
	
                None

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                Total:

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              

      

    

    

    Negam Limit
Breakdown

    

    
      
        	
                Negam Limit

              	
                # of

                Loans

              	
                Total Current

                Balance

              	
                % Total

                Current

                Balance

              	
                Average

                Current

                Balance

              	
                Gross

                Rate

              	
                WALA

              	
                % 1st

                Lien

              	
                Orig

                LTV

              	
                Orig

                CLTV

              	
                %

                SF/PUD

              	
                %

                Condo

              	
                % Owner

                Occupied

              	
                %

                Investor

              	
                %

                Purchase

              	
                %

                Cash

                Out

              	
                BDTI

              	
                FICO

              	
                % (FICO

                < 660)

              	
                %

                Full Doc

              	
                %

                Non-Full

                Doc

              
	
                None

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                Total:

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              

      

    

    

    

    
      
        11/19/2009

         

      

      
        12 of 15

        
          

        

      

      
         

        Preliminary
Subject to Change

      

    

    

    Life Cap
Breakdown

    

    
      
        	
                Life Cap
    Range

              	
                # of

                Loans

              	
                Total Current

                Balance

              	
                % Total

                Current

                Balance

              	
                Average

                Current

                Balance

              	
                Gross

                Rate

              	
                WALA

              	
                % 1st

                Lien

              	
                Orig

                LTV

              	
                Orig

                CLTV

              	
                %

                SF/PUD

              	
                %

                Condo

              	
                % Owner

                Occupied

              	
                %

                Investor

              	
                %

                Purchase

              	
                %

                Cash

                Out

              	
                BDTI

              	
                FICO

              	
                % (FICO

                < 660)

              	
                %

                Full Doc

              	
                %

                Non-Full

                Doc

              
	
                8.751-9.000

              	
                1

              	
                937,383

              	
                0.3%

              	
                937,383

              	
                4.00

              	
                3

              	
                100.0%

              	
                76.5

              	
                76.5

              	
                100.0%

              	
                0.0%

              	
                100.0%

              	
                0.0%

              	
                100.0%

              	
                0.0%

              	
                12.8

              	
                796

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                9.001-9.250

              	
                6

              	
                5,397,575

              	
                1.7%

              	
                899,596

              	
                4.21

              	
                3

              	
                100.0%

              	
                63.0

              	
                63.0

              	
                100.0%

              	
                0.0%

              	
                100.0%

              	
                0.0%

              	
                75.9%

              	
                0.0%

              	
                22.3

              	
                782

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                9.251-9.500

              	
                34

              	
                30,750,602

              	
                10.0%

              	
                904,429

              	
                4.47

              	
                2

              	
                100.0%

              	
                62.3

              	
                64.6

              	
                94.3%

              	
                5.7%

              	
                96.1%

              	
                0.0%

              	
                36.5%

              	
                0.0%

              	
                28.1

              	
                765

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                9.501-9.750

              	
                85

              	
                77,025,148

              	
                24.9%

              	
                906,178

              	
                4.69

              	
                2

              	
                100.0%

              	
                56.9

              	
                59.3

              	
                84.7%

              	
                11.6%

              	
                92.5%

              	
                0.0%

              	
                17.0%

              	
                4.1%

              	
                25.2

              	
                769

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                9.751-10.000

              	
                91

              	
                88,205,903

              	
                28.6%

              	
                969,296

              	
                4.93

              	
                2

              	
                100.0%

              	
                58.1

              	
                60.7

              	
                85.2%

              	
                6.2%

              	
                92.7%

              	
                0.0%

              	
                17.7%

              	
                5.5%

              	
                28.4

              	
                771

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                10.001-10.250

              	
                51

              	
                48,118,753

              	
                15.6%

              	
                943,505

              	
                5.19

              	
                2

              	
                100.0%

              	
                61.9

              	
                64.7

              	
                79.7%

              	
                10.1%

              	
                90.5%

              	
                0.0%

              	
                40.1%

              	
                4.8%

              	
                27.4

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                10.251-10.500

              	
                39

              	
                34,665,078

              	
                11.2%

              	
                888,848

              	
                5.43

              	
                3

              	
                100.0%

              	
                63.9

              	
                66.5

              	
                85.3%

              	
                6.8%

              	
                97.6%

              	
                0.0%

              	
                49.7%

              	
                0.0%

              	
                28.5

              	
                765

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                10.501-10.750

              	
                25

              	
                23,817,204

              	
                7.7%

              	
                952,688

              	
                5.70

              	
                4

              	
                100.0%

              	
                65.5

              	
                66.3

              	
                88.0%

              	
                0.0%

              	
                89.8%

              	
                0.0%

              	
                65.6%

              	
                3.1%

              	
                32.0

              	
                753

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                Total:

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              

      

    

    

    1st Initial Cap
Breakdown

    

    
      
        	
                1st Initial Cap
      Range

              	
                # of

                Loans

              	
                Total Current

                Balance

              	
                % Total

                Current

                Balance

              	
                Average

                Current

                Balance

              	
                Gross

                Rate

              	
                WALA

              	
                % 1st

                Lien

              	
                Orig

                LTV

              	
                Orig

                CLTV

              	
                %

                SF/PUD

              	
                %

                Condo

              	
                % Owner

                Occupied

              	
                %

                Investor

              	
                %

                Purchase

              	
                %

                Cash

                Out

              	
                BDTI

              	
                FICO

              	
                % (FICO

                < 660)

              	
                %

                Full Doc

              	
                %

                Non-Full

                Doc

              
	
                1.751-2.000

              	
                1

              	
                523,500

              	
                0.2%

              	
                523,500

              	
                5.00

              	
                0

              	
                100.0%

              	
                74.8

              	
                74.8

              	
                0.0%

              	
                100.0%

              	
                100.0%

              	
                0.0%

              	
                0.0%

              	
                0.0%

              	
                39.5

              	
                780

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                4.751-5.000

              	
                331

              	
                308,394,145

              	
                99.8%

              	
                931,704

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.8%

              	
                7.4%

              	
                93.1%

              	
                0.0%

              	
                31.5%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                Total:

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              

      

    

    

    Periodic Cap
Breakdown

    

    
      
        	
                Periodic
Cap

              	
                # of

                Loans

              	
                Total Current

                Balance

              	
                % Total

                Current

                Balance

              	
                Average

                Current

                Balance

              	
                Gross

                Rate

              	
                WALA

              	
                % 1st

                Lien

              	
                Orig

                LTV

              	
                Orig

                CLTV

              	
                %

                SF/PUD

              	
                %

                Condo

              	
                % Owner

                Occupied

              	
                %

                Investor

              	
                %

                Purchase

              	
                %

                Cash

                Out

              	
                BDTI

              	
                FICO

              	
                % (FICO

                < 660)

              	
                %

                Full Doc

              	
                %

                Non-Full

                Doc

              
	
                2.000

              	
                329

              	
                306,539,437

              	
                99.2%

              	
                931,731

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.1

              	
                62.5

              	
                86.1%

              	
                7.1%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                5.000

              	
                3

              	
                2,378,208

              	
                0.8%

              	
                792,736

              	
                4.97

              	
                3

              	
                100.0%

              	
                65.6

              	
                65.6

              	
                34.8%

              	
                65.2%

              	
                100.0%

              	
                0.0%

              	
                36.1%

              	
                0.0%

              	
                31.0

              	
                782

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                Total:

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              

      

    

    

    
      
        11/19/2009

         

      

      
        13 of 15

        
          

        

      

      
         

        Preliminary
Subject to Change

      

    

    

    Lien Status
Breakdown

    

    
      
        	
                Lien Status

              	
                # of

                Loans

              	
                Total Current

                Balance

              	
                % Total

                Current

                Balance

              	
                Average

                Current

                Balance

              	
                Gross

                Rate

              	
                WALA

              	
                % 1st

                Lien

              	
                Orig

                LTV

              	
                Orig

                CLTV

              	
                %

                SF/PUD

              	
                %

                Condo

              	
                % Owner

                Occupied

              	
                %

                Investor

              	
                %

                Purchase

              	
                %

                Cash

                Out

              	
                BDTI

              	
                FICO

              	
                % (FICO

                < 660)

              	
                %

                Full Doc

              	
                %

                Non-Full

                Doc

              
	
                1

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                Total:

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              

      

    

    

    Prepayment Penalty
Breakdown

    

    
      
        	
                Preypay
    Penalty

              	
                # of

                Loans

              	
                Total Current

                Balance

              	
                % Total

                Current

                Balance

              	
                Average

                Current

                Balance

              	
                Gross

                Rate

              	
                WALA

              	
                % 1st

                Lien

              	
                Orig

                LTV

              	
                Orig

                CLTV

              	
                %

                SF/PUD

              	
                %

                Condo

              	
                % Owner

                Occupied

              	
                %

                Investor

              	
                %

                Purchase

              	
                %

                Cash

                Out

              	
                BDTI

              	
                FICO

              	
                % (FICO

                < 660)

              	
                %

                Full Doc

              	
                %

                Non-Full

                Doc

              
	
                N

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                Total:

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              

      

    

    

    Prepayment Term
Breakdown

     

    
      
        	
                Prepayment
    Term

              	
                # of

                Loans

              	
                Total Current

                Balance

              	
                % Total

                Current

                Balance

              	
                Average

                Current

                Balance

              	
                Gross

                Rate

              	
                WALA

              	
                % 1st

                Lien

              	
                Orig

                LTV

              	
                Orig

                CLTV

              	
                %

                SF/PUD

              	
                %

                Condo

              	
                % Owner

                Occupied

              	
                %

                Investor

              	
                %

                Purchase

              	
                %

                Cash

                Out

              	
                BDTI

              	
                FICO

              	
                % (FICO

                < 660)

              	
                %

                Full Doc

              	
                %

                Non-Full

                Doc

              
	
                0

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              
	
                Total:

              	
                332

              	
                308,917,645

              	
                100.0%

              	
                930,475

              	
                4.97

              	
                2

              	
                100.0%

              	
                60.2

              	
                62.5

              	
                85.7%

              	
                7.6%

              	
                93.1%

              	
                0.0%

              	
                31.4%

              	
                3.6%

              	
                27.5

              	
                768

              	
                0.0%

              	
                100.0%

              	
                0.0%

              

      

    

    

    

    
      
        11/19/2009

         

      

      
        14 of 15

        
          

        

      

      
         

        Preliminary
Subject to Change

      

    

    

    Large Loan Breakdown (>=
$2,000,000)

    

    

    
      
        
          	
                  Loan Amount

                	
                  # of

                  Loans

                	
                  City

                	
                  State

                	
                  % of Pool  Balance

                	
                  Gross Rate

                	
                  WALA

                	
                  Orig

                  LTV

                	
                  Orig

                  CLTV

                	
                  Property
    Type

                	
                  Occupancy

                	
                  Purpose

                	
                  BDTI

                	
                  FICO

                	
                  Documentation

                
	
                  $2,000,000

                	
                  1

                	
                  SCARSDALE

                	
                  NY

                	
                  0.6%

                	
                  4.62

                	
                  3

                	
                  47.6

                	
                  47.6

                	
                  Single
    Family

                	
                  Primary

                	
                  Rate Term
    Refi

                	
                  43.5

                	
                  801

                	
                  Full

                
	
                  $2,115,000

                	
                  1

                	
                  NEW YORK

                	
                  NY

                	
                  0.7%

                	
                  5.75

                	
                  7

                	
                  36.2

                	
                  36.2

                	
                  Co-op

                	
                  Primary

                	
                  Rate Term
    Refi

                	
                  42.9

                	
                  749

                	
                  Full

                
	
                  $2,200,000

                	
                  1

                	
                  NEWPORT
    BEACH

                	
                  CA

                	
                  0.7%

                	
                  4.88

                	
                  1

                	
                  42.3

                	
                  42.3

                	
                  PUD

                	
                  Primary

                	
                  Rate Term
    Refi

                	
                  41.0

                	
                  737

                	
                  Full

                
	
                  $2,992,608

                	
                  1

                	
                  SNOWMASS
      VILLAGE

                	
                  CO

                	
                  1.0%

                	
                  4.88

                	
                  3

                	
                  48.4

                	
                  48.4

                	
                  PUD

                	
                  Secondary
    Home

                	
                  Rate Term
    Refi

                	
                  32.8

                	
                  742

                	
                  Full

                
	
                  Total:

                	
                  4

                	 
      	 
      	
                  3.0%

                	
                  5.02

                	
                  3

                	
                  44.0

                	
                  44.0

                	 
      	 
      	 
      	
                  39.3

                	
                  755

                	 
      

        

      

    

    

    

    
      
        11/19/2009

         

      

      
        15 of 15

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00172-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00172-of-00352.parquet"}]]