jpmorgan chase & co . / 2007 annual report 145 subprime adjustable-rate mortgage loan modifications see the glossary of terms on page 183 of this annual report for the firm 2019s definition of subprime loans . within the confines of the limited decision-making abilities of a qspe under sfas 140 , the operating doc- uments that govern existing subprime securitizations generally authorize the servicer to modify loans for which default is reasonably foreseeable , provided that the modification is in the best interests of the qspe 2019s ben- eficial interest holders , and would not result in a remic violation . in december 2007 , the american securitization forum ( 201casf 201d ) issued the 201cstreamlined foreclosure and loss avoidance framework for securitized subprime adjustable rate mortgage loans 201d ( 201cthe framework 201d ) . the framework provides guidance for servicers to stream- line evaluation procedures for borrowers with certain subprime adjustable rate mortgage ( 201carm 201d ) loans to more efficiently provide modifications of such loans with terms that are more appropriate for the individual needs of such borrowers . the framework applies to all first-lien subprime arm loans that have a fixed rate of interest for an initial period of 36 months or less , are included in securitized pools , were originated between january 1 , 2005 , and july 31 , 2007 , and have an initial interest rate reset date between january 1 , 2008 , and july 31 , 2010 ( 201casf framework loans 201d ) . the framework categorizes the population of asf framework loans into three segments . segment 1 includes loans where the borrower is current and is likely to be able to refinance into any available mortgage product . segment 2 includes loans where the borrower is current , is unlikely to be able to refinance into any readily available mortgage industry product and meets certain defined criteria . segment 3 includes loans where the borrower is not current , as defined , and does not meet the criteria for segments 1 or 2 . asf framework loans in segment 2 of the framework are eligible for fast-track modification under which the interest rate will be kept at the existing initial rate , generally for five years following the interest rate reset date . the framework indicates that for segment 2 loans , jpmorgan chase , as servicer , may presume that the borrower will be unable to make payments pursuant to the original terms of the borrower 2019s loan after the initial interest rate reset date . thus , the firm may presume that a default on that loan by the borrower is reasonably foreseeable unless the terms of the loan are modified . jpmorgan chase has adopted the loss mitigation approaches under the framework for securitized sub- prime loans that meet the specific segment 2 screening criteria , and it expects to begin modifying segment 2 loans by the end of the first quar- ter of 2008 . the firm believes that the adoption of the framework will not affect the off-balance sheet accounting treatment of jpmorgan chase-sponsored qspes that hold segment 2 subprime loans . the total amount of assets owned by firm-sponsored qspes that hold asf framework loans ( including those loans that are not serviced by the firm ) as of december 31 , 2007 , was $ 20.0 billion . of this amount , $ 9.7 billion relates to asf framework loans serviced by the firm . based on current economic conditions , the firm estimates that approximately 20% ( 20 % ) , 10% ( 10 % ) and 70% ( 70 % ) of the asf framework loans it services that are owned by firm-sponsored qspes will fall within segments 1 , 2 and 3 , respectively . this estimate could change substantially as a result of unanticipated changes in housing values , economic conditions , investor/borrower behavior and other factors . the total principal amount of beneficial interests issued by firm-spon- sored securitizations that hold asf framework loans as of december 31 , 2007 , was as follows. .
in 2007 what was the percent of the retained interest of the total principal amount of beneficial interests
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