Common use of Allocation of Realized Losses Clause in Contracts

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “Certificate Principal Balance” and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate' Certificate by the Master Servicer. Realized Losses shall be allocated among the various Classes of Certificates as determined by the Trustee in accordance with the following provisions. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Excess Bankruptcy Losses, Excess Bankruptcy Fraud Losses or Excess Fraud Losses, Extraordinary Losses shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 B Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated second, among all the Senior Class A Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Losses and Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Class A and Class B Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, without priority among the various Classes so specified, to each such Class of Certificates on the basis of their the then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date thereof in the case of the principal portion of a Realized Loss or based on the Monthly Accrued Certificate Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Allocations of Realized Losses which are Default Losses to the Class A Certificates will be made on a pro rata basis, based on their then outstanding Certificate Principal Balances, or the Accrued Certificate Interest thereon, as applicable, between the Class A- 1, Class A-5 and Class A-6 Certificates, on the one hand, and the Xxxxs A-2, Class A-3, Class A-4 and Variable Strip Certificates, on the other. Any such Realized Losses so allocated to the Class A-1, Class A-5 and Class A-6 Certificates will be allocated first to the Class A-6 Certificates until the Certificate Principal Balance thereof or the Accrued Certificate Interest thereon, as appropriate, is reduced to zero and then to the Class A-1 and Class A-5 Certificates on a pro rata basis. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to a Class A Certificate shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated, which allocation shall be deemed to have occurred at the close of business on such Distribution Date. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation Certificates, shall be made by operation of the definition of “"Certificate Principal Balance” " and by operation of the provisions of Section 4.014.01(b). Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” "Accrued Certificate Interest" and by operation of the provisions of Section 4.014.01(b) or 4.01(d), as applicable. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.014.01(b) or 4.01(d), as applicable. All Realized Losses and all other losses allocated to a Class of Certificates hereunder under this Section 4.04 will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. Prior to For each Distribution Date, the Master Servicer shall determine calculate the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition Losses on the Mortgage Loans that occurred during the related preceding Prepayment Period, and shall include such calculation in its Remittance Report. The amount If on any Distribution Date, the aggregate Certificate Principal Balance of each Realized Loss shall be evidenced by an Officers’ Certificate. All Realized Lossesthe Class A Certificates and the Subordinated Certificates, other than Excess Special Hazard Lossesdetermined after all distributions pursuant to Section 4.01 have been made, Extraordinary Lossesexceed the aggregate Stated Principal Balance of all of the Mortgage Loans as of such Distribution Date after all distributions pursuant to Section 4.01 have been made, Excess Bankruptcy Losses or Excess Fraud Losses, such excess shall be allocated by the Trustee as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; secondB Certificates, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such second, to the Class M Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses will to be so allocated among all to the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation Certificate Principal Balance of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each any such Class of Certificates on any Distribution Date shall be so allocated after the basis of their then outstanding Certificate Principal Balances prior to giving effect to actual distributions to be made on such Distribution Date in the case date as provided herein. No allocations of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “Certificate Principal Balance” and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation to the Certificate Principal Balance of the definition Class A Certificates. All references in Section 4.01 to the Certificate Principal Balance of “Monthly Interest Distributable Amount” and any Class of Certificates, unless otherwise stated, shall be to the Certificate Principal Balance of such Class immediately prior to the relevant Distribution Date, before reduction thereof by operation any Realized Losses as provided in this Section 4.05, in each case to be allocated to such Class of the provisions Certificates, on such Distribution Date. Any allocation of Section 4.01. Allocations of the principal portion of Debt Service Reductions Realized Losses to a Subordinated Certificate on any Distribution Date shall be made by operation of reducing the provisions of Section 4.01Certificate Principal Balance thereof by the amount so allocated. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will on the Mortgage Loans shall be allocated among by the Certificates of such Class Trustee on each Distribution Date, in proportion the specified percentages, as follows: first, to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated Uncertificated Accrued Interest payable to the REMIC I 1 Regular Interest LT1AA and REMIC 1 Regular Interest LT1ZZ up to an aggregate amount equal to the REMIC 1 Interest Loss Allocation Amount, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LT1AA and REMIC 1 Regular Interest LT1ZZ up to an aggregate amount equal to the REMIC 1 Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LT1AA, REMIC 1 Regular Interest LT1B and REMIC 1 Regular Interest LT1ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LT1B has been reduced to zero; and fourth, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LT1AA, REMIC 1 Regular Interest LT1M and REMIC 1 Regular Interest LT1ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LT1M has been reduced to zero. All Realized Losses on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date among the REMIC 1 Regular Interests in the same amount manner and priority as such amounts are allocated with respect to the Corresponding Certificated InterestsCertificates.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer Servicer, based solely on the information provided by the related Servicer, shall determine the total amount of Realized Losses, if any, that resulted from with respect to each Loan. Realized Losses on the Loans for any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: Distribution Date will first, to cause a reduction in Net Monthly Excess Cash Flow for that Distribution Date and second, cause a reduction in the Certificate Principal Balance of the Class B-6 CE Certificates for that Distribution Date, until the Certificate Principal Balance thereof has been reduced to zero; . To the extent that Realized Losses on a Distribution Date cause the aggregate Certificate Principal Balance of the Class A Certificates, Class M and Class P Certificates, after taking into account all distributions on such Distribution Date to exceed the aggregate Principal Balance of the Loans as of the last day of the related Due Period, such excess will be allocated first, to the Class M-9 Certificates, second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; M-8 Certificates, third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; M-7 Certificates, fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifthM-6 certificates, fifth to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zeroM-5 Certificates; sixth, to the Class B-1 M-4 Certificates, seventh, to the Class M-3 Certificates; eighth, to the Class M-2 Certificates, ninth, to the Class M-1 Certificates, tenth, to the Class A-2 Certificates, and eleventh, to the Class A-1-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior Class A-1-2 Certificates on a pro rata basis, as described belowin each case based on the Certificate Principal Balance of each such Class, and in each case to reduce the Certificate Principal Balance thereof until it has been reduced to zero. In addition, to the extent the related Servicer receives Subsequent Recoveries with respect to any defaulted Loan, the amount of the Realized Loss with respect to that defaulted Loan will be reduced to the extent such Subsequent Recoveries are applied to reduce the Certificate Principal Balance of any Class of Certificates on any Distribution Date. Any allocation of Realized Losses to a Class A Certificate or Class M Certificate on any Distribution Date shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated as of such Distribution Date after all distributions on such Distribution Date have been made. Any allocation of Realized Losses to a Class CE Certificates shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.1(iii)(g). No allocations of Realized Losses shall be made to the Class P Certificates. Notwithstanding anything to the contrary in this Agreement, in no event will the Certificate Principal Balance of any Class A Certificate or Class M Certificate be reduced more than once in respect of any particular amount both (i) allocable to the Class A Certificate or Class M Certificate in respect of Realized Losses and (ii) payable as principal to the Holder of the Certificate from Net Monthly Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described belowCashflow. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “Certificate Principal Balance” and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Any Subsequent Recoveries collected by the Servicers will be distributed as part of the Available Distribution Amount in accordance with the priorities described under Section 4.1. In addition, the Certificate Principal Balance of each Class of Certificates that has been reduced by the allocation of a Realized Loss to such Certificate will be increased, on a pro rata basis based on the related Allocated Realized Loss Amount with respect to the Class A Certificates, and in order of seniority with respect to the Class M Certificates, by the amount of such Subsequent Recoveries, but only to the extent that such Certificate has not been reimbursed for the amount of such Realized Loss (or a portion thereof) allocated to such Certificate from Net Monthly Excess Cashflow. Holders of such Certificates will not be entitled to any payment in respect of current interest on the amount of such increases for any Interest Accrual Period preceding the Distribution Date on which such increase occurs. All reductions in the Certificate Principal Balance of a Certificate effected by distributions of principal or allocations of Realized Losses allocated with respect to the Regular Certificates Loans made on any Distribution Date shall be deemed allocated to binding upon all Holders of such Certificate and of any Certificate issued upon the REMIC I Regular Interests registration of transfer or exchange therefor or in the same amount and priority allocated to Corresponding Certificated Interestslieu thereof, whether or not such distribution is noted on such Certificate.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate' Certificate by the Master Servicer. Realized Losses shall be allocated among the various Classes of Certificates as determined by the Trustee in accordance with the following provisions. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Excess Bankruptcy Losses, Excess Bankruptcy Fraud Losses or Excess Fraud Losses, Extraordinary Losses shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 B Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated second, among all the Senior Class A Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Losses and Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Class A and Class B Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, without priority among the various Classes so specified, to each such Class of Certificates on the basis of their the then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date thereof in the case of the principal portion of a Realized Loss or based on the Monthly Accrued Certificate Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Allocations of Realized Losses which are Default Losses to the Class A Certificates will be made on a pro rata basis, based on their then outstanding Certificate Principal Balances, or the Accrued Certificate Interest thereon, as applicable, between the Class A- 1, Class A-5 and Class A-6 Certificates, on the one hand, and the Cxxxx A-2, Class A-3, Class A-4 and Variable Strip Certificates, on the other. Any such Realized Losses so allocated to the Class A-1, Class A-5 and Class A-6 Certificates will be allocated first to the Class A-6 Certificates until the Certificate Principal Balance thereof or the Accrued Certificate Interest thereon, as appropriate, is reduced to zero and then to the Class A-1 and Class A-5 Certificates on a pro rata basis. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to a Class A Certificate shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated, which allocation shall be deemed to have occurred at the close of business on such Distribution Date. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation Certificates, shall be made by operation of the definition of “"Certificate Principal Balance” " and by operation of the provisions of Section 4.014.01(b). Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” "Accrued Certificate Interest" and by operation of the provisions of Section 4.014.01(b) or 4.01(d), as applicable. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.014.01(b) or 4.01(d), as applicable. All Realized Losses and all other losses allocated to a Class of Certificates hereunder under this Section 4.04 will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate' Certificate by the Master Servicer. Realized Losses shall be allocated among the various Classes of Certificates as determined by the Trustee in accordance with the following provisions. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Excess Bankruptcy Losses, Excess Bankruptcy Fraud Losses or Excess Fraud Losses, Extraordinary Losses shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 B Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated second, among all the Senior Class A Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Losses and Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Class A and Class B Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, without priority among the various Classes so specified, to each such Class of Certificates on the basis of their the then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date thereof in the case of the principal portion of a Realized Loss or based on the Monthly Accrued Certificate Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Allocations of Realized Losses which are Default Losses to the Class A Certificates will be made on a pro rata basis, based on their then outstanding Certificate Principal Balances, or the Accrued Certificate Interest thereon, as applicable, between the Class A- 1, Class A-5 and Class A-6 Certifxxxxes, on the one hand, and the Class A-2, Class A-3, Class A-4 and Variable Strip Certificates, on the other. Any such Realized Losses so allocated to the Class A-1, Class A-5 and Class A-6 Certificates will be allocated first to the Class A-6 Certificates until the Certificate Principal Balance thereof or the Accrued Certificate Interest thereon, as appropriate, is reduced to zero and then to the Class A-1 and Class A-5 Certificates on a pro rata basis. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to a Class A Certificate shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated, which allocation shall be deemed to have occurred at the close of business on such Distribution Date. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation Certificates, shall be made by operation of the definition of “"Certificate Principal Balance” " and by operation of the provisions of Section 4.014.01(b). Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” "Accrued Certificate Interest" and by operation of the provisions of Section 4.014.01(b) or 4.01(d), as applicable. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.014.01(b) or 4.01(d), as applicable. All Realized Losses and all other losses allocated to a Class of Certificates hereunder under this Section 4.04 will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, on the Mortgage Loans shall be allocated by the Certificate Administrator on each Distribution Date as follows: first, to the Class B-6 Certificates O Certificates, until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates B Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifthM-2 Certificates, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such fifth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses will to be allocated among all to the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to of all Classes on any Distribution Date shall be so allocated after the actual distributions to be made on such date as provided above. All references above to the Certificate Principal Balance of any Class of Certificates shall be to the Certificate Principal Balance of such Class immediately prior to the relevant Distribution Date Date, before reduction thereof by any Realized Losses, in the each case to be allocated to such Class of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable Certificates, on such Distribution Date (without regard Date. In no event shall Realized Losses be allocated to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized LossClass A Certificates. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the a Class O Certificate, Class B Certificates then outstanding with the highest numerical designation Certificate or to a Mezzanine Certificate on any Distribution Date shall be made by operation of reducing the definition of “Certificate Principal Balance” and Balance thereof by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interestsso allocated.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. (a) All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, on the Mortgage Loans allocated to any Regular Certificate shall be allocated by the Trustee on each Distribution Date as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zeroNet Monthly Excess Cashflow; second, to the Class B-5 Certificates C Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifthM-2 Certificates, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such fifth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses will to be allocated among all to the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to of all Classes on any Distribution Date shall be so allocated after the actual distributions to be made on such date as provided above. All references above to the Certificate Principal Balance of any Class of Certificates shall be to the Certificate Principal Balance of such Class immediately prior to the relevant Distribution Date Date, before reduction thereof by any Realized Losses, in the each case to be allocated to such Class of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable Certificates, on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation a Mezzanine Certificate on any Distribution Date shall be made by operation of reducing the definition of “Certificate Principal Balance” and Balance thereof by operation the amount so allocated; any allocation of Realized Losses to a Class C Certificate shall be made by reducing the provisions amount otherwise payable in respect thereof pursuant to Section 4.01(d)(x). No allocations of Section 4.01. Allocations of the interest portions of any Realized Losses shall be made by operation to the Certificate Principal Balances of the definition of “Monthly Interest Distributable Amount” and by operation of Class A Certificates or the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. Class P Certificates. (b) All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among on the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates Mortgage Loans shall be deemed to have been allocated in the specified percentages, as follows: first, to Uncertificated Accrued Interest payable to the REMIC I 1 Regular Interests in Interest LT1A and REMIC 1 Regular Interest LT1F up to an aggregate amount equal to the same REMIC 1 Interest Loss Allocation Amount, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LT1A and REMIC 1 Regular Interest LT1F up to an aggregate amount equal to the REMIC 1 Principal Loss Allocation Amount, 98% and priority allocated 1%, respectively; third, to Corresponding Certificated Intereststhe Uncertificated Principal Balances of REMIC 1 Regular Interest LT1A, REMIC 1 Regular Interest LT1E and REMIC 1 Regular Interest LT1F, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LT1E has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LT1A, REMIC 1 Regular Interest LT1D and REMIC 1 Regular Interest LT1F, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LT1D has been reduced to zero; and fifth, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LT1A, REMIC 1 Regular Interest LT1C and REMIC 1 Regular Interest LT1F, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LT1C has been reduced to zero.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “Certificate Principal Balance” and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ ' Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 M-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 M-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 M-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter and, thereafter, if such Realized Losses will be allocated are on a Discount Mortgage Loan, to the Principal Only Certificates, in an amount equal to the Discount Fraction of the principal portion thereof, and the remainder of such Realized Losses and the entire amount of such Realized Losses on Non-Discount Mortgage Loans among all the Senior Class A Certificates (other than the Principal Only Certificates) and Class R Certificates, on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Losses and Extraordinary Losses on the Non-Discount Mortgage Loans will be allocated among the Senior Certificates Class A (other than the Principal Only Certificates), Class M, Class B and Subordinate Class R Certificates, on a pro rata basis, as described below. The principal portion of such losses on Discount Mortgage Loans will be allocated to the Principal Only Certificates in an amount equal to the related Discount Fraction thereof, and the remainder of such losses on Discount Mortgage Loans will be allocated among the Class A Certificates (other than the Principal Only Certificates), Class M, Class B and Class R Certificates on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Accrued Certificate Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss; provided that, in determining the Certificate Principal Balance of the Accrual Certificates for the purpose of allocating any portion of a Realized Loss thereto, the Certificate Principal Balance of the Accrual Certificates shall be deemed to be equal to the lesser of (a) the original Certificate Principal Balance of such Certificate and (b) the Certificate Principal Balance of such Certificate prior to giving effect to distributions made on such Distribution Date. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates or, after the Certificate Principal Balances of the Class B Certificates have been reduced to zero, to the Class of Class M Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “"Certificate Principal Balance” " and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” "Accrued Certificate Interest" and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. (a) All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zeroNet Monthly Excess Cashflow; second, to the Class B-5 Certificates X Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates B Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifthM-2 Certificates, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such fifth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses will to be allocated among all to the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to of all Classes on any Distribution Date shall be so allocated after the actual distributions to be made on such date as provided above. All references above to the Certificate Principal Balance of any Class of Certificates shall be to the Certificate Principal Balance of such Class immediately prior to the relevant Distribution Date Date, before reduction thereof by any Realized Losses, in the each case to be allocated to such Class of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable Certificates, on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation a Mezzanine Certificate on any Distribution Date shall be made by operation of reducing the definition of “Certificate Principal Balance” and Balance thereof by operation the amount so allocated. Any allocation of Realized Losses to a Class X Certificate shall be made by reducing the provisions amount otherwise payable in respect thereof pursuant to Section 4.01(d)(ix). No allocations of Section 4.01. Allocations of the interest portions of any Realized Losses shall be made by operation to the Certificate Principal Balances of the definition of “Monthly Interest Distributable Amount” and by operation of Class A Certificates or the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. Class R Certificates. (b) All Realized Losses and all other losses allocated to a Class of Certificates hereunder will on the Mortgage Loans shall be allocated among by the Certificates of such Class in proportion Trustee on each Distribution Date first, to REMIC 1 Regular Interest LT1A, until the Percentage Interests evidenced thereby. Uncertificated Principal Balance has been reduced to zero and then to REMIC 1 Regular Interest LT1B until the Uncertificated Principal Balance has been reduced to zero. (c) All Realized Losses allocated to on the REMIC 1 Regular Certificates Interest LT1A and REMIC 1 Regular Interest LT1B shall be deemed to have been allocated in the specified percentages, as follows: first, to Uncertificated Accrued Interest payable to the REMIC I 2 Regular Interests in Interest LT2A and REMIC 2 Regular Interest LT2J up to an aggregate amount equal to the same REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2A and REMIC 2 Regular Interest LT2J up to an aggregate amount equal to the REMIC 2 Principal Loss Allocation Amount, 98% and priority allocated 2%, respectively; third, to Corresponding Certificated Intereststhe Uncertificated Principal Balances of REMIC 2 Regular Interest LT2A, REMIC 2 Regular Interest LT2I and REMIC 2 Regular Interest LT2J, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2I has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2A, REMIC 2 Regular Interest LT2H and REMIC 2 Regular Interest LT2J, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2H has been reduced to zero; and fifth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2A, REMIC 2 Regular Interest LT2G and REMIC 2 Regular Interest LT2J, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2G has been reduced to zero.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ CertificateCertificate by the Master Servicer. Realized Losses shall be allocated among the various Classes of Certificates as determined by the Trustee in accordance with the following provisions. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Excess Bankruptcy Losses, Excess Bankruptcy Fraud Losses or Excess Fraud Losses, Extraordinary Losses shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 B Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated second, among all the Senior Class A Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Losses and Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Class A and Class B Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, without priority among the various Classes so specified, to each such Class of Certificates on the basis of their the then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date thereof in the case of the principal portion of a Realized Loss or based on the Monthly Accrued Certificate Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Allocations of Realized Losses which are Default Losses to the Class A Certificates will be made on a pro rata basis, based on their then outstanding Certificate Principal Balances, or the Accrued Certificate Interest thereon, as applicable, between the Class X- 0, Class A-5 and Class A-6 Certificates, on the one hand, and the Class A-2, Class A-3, Class A-4 and Variable Strip Certificates, on the other. Any such Realized Losses so allocated to the Class A-1, Class A-5 and Class A-6 Certificates will be allocated first to the Class A-6 Certificates until the Certificate Principal Balance thereof or the Accrued Certificate Interest thereon, as appropriate, is reduced to zero and then to the Class A-1 and Class A-5 Certificates on a pro rata basis. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to a Class A Certificate shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated, which allocation shall be deemed to have occurred at the close of business on such Distribution Date. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation Certificates, shall be made by operation of the definition of “Certificate Principal Balance” and by operation of the provisions of Section 4.014.01(b). Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable AmountAccrued Certificate Interest” and by operation of the provisions of Section 4.014.01(b) or 4.01(d), as applicable. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.014.01(b) or 4.01(d), as applicable. All Realized Losses and all other losses allocated to a Class of Certificates hereunder under this Section 4.04 will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer Servicer, based solely on the information provided by the related Servicer, shall determine the total amount of Realized Losses, if any, that resulted from with respect to each Loan. Realized Losses on the Loans for any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: Distribution Date will first, to cause a reduction in Net Monthly Excess Cash Flow for that Distribution Date and second, cause a reduction in the Certificate Principal Balance of the Class B-6 CE Certificates for that Distribution Date, until the Certificate Principal Balance thereof has been reduced to zero. To the extent that Realized Losses on a Distribution Date cause the aggregate Certificate Principal Balance of the Class A Certificates (other than the Class A-IO Certificates) and the Class M Certificates, after taking into account all distributions on such Distribution Date to exceed the aggregate Principal Balance of the Loans as of the last day of the related Due Period, such excess will be allocated first, to the Class M-3 Certificates; second, to the Class B-5 M-2 Certificates; and third, to the Class M-1 Certificates until in each case to reduce the Certificate Principal Balance thereof until it has been reduced to zero; third, . Any allocation of Realized Losses to the a Class B-4 Certificates until M Certificate on any Distribution Date shall be made by reducing the Certificate Principal Balance thereof has by the amount so allocated as of such Distribution Date after all distributions on such Distribution Date have been reduced made. Any allocation of Realized Losses to zero; fourth, a Class CE Certificates shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.1(a)(iii)(F). No allocations of Realized Losses shall be made to the Senior Certificates or the Class B-3 Certificates until P Certificates. Notwithstanding anything to the contrary in this Agreement, in no event will the Certificate Principal Balance thereof has been of any Class M Certificate be reduced to zero; fifth, more than once in respect of any particular amount both (i) allocable to the Class B-2 Certificates until M Certificate in respect of Realized Losses and (ii) payable as principal to the Holder of the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior Certificates on a pro rata basis, as described below. Any from Net Monthly Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described belowCashflow. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “Certificate Principal Balance” and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The principal portion of all Realized Losses allocated to on the Regular Certificates Mortgage Loans shall be deemed allocated on each Distribution Date first, to REMIC I Regular Interest LTI-1 and REMIC I Regular Interest LTI-P, until the Uncertificated Principal Balances have been reduced to zero and then to REMIC I Regular Interest LTI-IO-1, REMIC I Regular Interest LTI-IO-2, REMIC I Regular Interest LTI-IO-3, REMIC I Regular Interest LTI-IO-4 and REMIC I Regular Interest LTI-IO-5, until the Uncertificated Principal Balances have been reduced to zero. All Realized Losses on the REMIC I Regular Interests shall be allocated on each Distribution Date to the following REMIC II Regular Interests in the same specified percentages, as follows: first, to Uncertificated Accrued Interest payable to the REMIC II Regular Interest LTII-AA and REMIC II Regular Interest LTII-ZZ up to an aggregate amount equal to the REMIC II Interest Loss Allocation Amount, 98% and priority allocated 2%, respectively; second, to Corresponding Certificated Intereststhe Uncertificated Principal Balances of the REMIC II Regular Interest LTII-AA and REMIC II Regular Interest LTII-ZZ up to an aggregate amount equal to the REMIC II Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Principal Balances of REMIC II Regular Interest LTII-AA, 98%, to REMIC II Regular Interest LTII-M3, 1% and to REMIC II Regular Interest LTII-ZZ, 1%, respectively, until the Uncertificated Principal Balance of REMIC II Regular Interest LTII-M3 has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC II Regular Interest LTII-AA, REMIC II Regular Interest LTII-M2 and REMIC II Regular Interest LTII-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC II Regular Interest LTII-M2 has been reduced to zero; and fifth, to the Uncertificated Principal Balances of REMIC II Regular Interest LTII-AA, REMIC II Regular Interest LTII-M1 and REMIC II Regular Interest LTII-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC II Regular Interest LTII-M1 has been reduced to zero.]

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. (a) All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, on the Mortgage Loans allocated to any REMIC 3 Regular Interest shall be allocated by the Trustee on each Distribution Date as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zeroNet Monthly Excess Cashflow; second, to the Class B-5 Certificates C Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifthM-2 Certificates, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such fifth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses will to be allocated among all to the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to of all Classes on any Distribution Date shall be so allocated after the actual distributions to be made on such date as provided above. All references above to the Certificate Principal Balance of any Class of Certificates shall be to the Certificate Principal Balance of such Class immediately prior to the relevant Distribution Date Date, before reduction thereof by any Realized Losses, in the each case to be allocated to such Class of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable Certificates, on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation a Mezzanine Certificate on any Distribution Date shall be made by operation of reducing the definition of “Certificate Principal Balance” and Balance thereof by operation the amount so allocated; any allocation of Realized Losses to a Class C Certificate shall be made by reducing the provisions amount otherwise payable in respect thereof pursuant to Section 4.01(d)(ix). No allocations of Section 4.01. Allocations of the interest portions of any Realized Losses shall be made by operation to the Certificate Principal Balances of the definition of “Monthly Interest Distributable Amount” and by operation of Class A Certificates or the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. Class P Certificates. (b) All Realized Losses and all other losses allocated to a Class of Certificates hereunder will on the Mortgage Loans shall be allocated among by the Certificates of such Class in proportion Trustee on each Distribution Date to REMIC 1 Regular Interest LT1A until the Percentage Interests evidenced thereby. Uncertificated Principal Balance has been reduced to zero and then to REMIC 1 Regular Interest LT1B until the Uncertificated Principal Balance has been reduced to zero. (c) All Realized Losses allocated to on the REMIC 1 Regular Certificates Interest LT1A and REMIC 1 Regular Interest LT1B shall be deemed to have been allocated in the specified percentages, as follows: first, to Uncertificated Accrued Interest payable to the REMIC I 2 Regular Interests in Interest LT2A and REMIC 2 Regular Interest LT2F up to an aggregate amount equal to the same REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2A and REMIC 2 Regular Interest LT2F up to an aggregate amount equal to the REMIC 2 Principal Loss Allocation Amount, 98% and priority allocated 2%, respectively; third, to Corresponding Certificated Intereststhe Uncertificated Principal Balances of REMIC 2 Regular Interest LT2A, REMIC 2 Regular Interest LT2E and REMIC 2 Regular Interest LT2F, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2E has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2A, REMIC 2 Regular Interest LT2D and REMIC 2 Regular Interest LT2F, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2D has been reduced to zero; and fifth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2A, REMIC 2 Regular Interest LT2C and REMIC 2 Regular Interest LT2F, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2C has been reduced to zero.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. (a) All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zeroNet Monthly Excess Cashflow; second, to the Class B-5 Certificates C Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates B Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifthM-2 Certificates, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such fifth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses will to be allocated among all to the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to of all Classes on any Distribution Date shall be so allocated after the actual distributions to be made on such date as provided above. All references above to the Certificate Principal Balance of any Class of Certificates shall be to the Certificate Principal Balance of such Class immediately prior to the relevant Distribution Date Date, before reduction thereof by any Realized Losses, in the each case to be allocated to such Class of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable Certificates, on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation a Mezzanine Certificate on any Distribution Date shall be made by operation of reducing the definition of “Certificate Principal Balance” and Balance thereof by operation the amount so allocated. Any allocation of Realized Losses to a Class C Certificate shall be made by reducing the provisions amount otherwise payable in respect thereof pursuant to Section 4.01(d)(viii). No allocations of Section 4.01. Allocations of the interest portions of any Realized Losses shall be made by operation to the Certificate Principal Balances of the definition of “Monthly Interest Distributable Amount” and by operation of Class A Certificates or the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. Class P Certificates. (b) All Realized Losses and all other losses allocated to a Class of Certificates hereunder will on the Mortgage Loans shall be allocated among by the Certificates of such Class in proportion Trustee on each Distribution Date as follows: with respect to the Percentage Interests evidenced thereby. Realized Losses allocated on the Group 1 Loans, to REMIC 1 Regular Interest LT1A and REMIC 1 Regular Interest LT1B, 99% and 1%, respectively, and with respect to Realized Losses on the Group 2 Loans, to REMIC 1 Regular Certificates Interest LT1A and REMIC 1 Regular Interest LT1C, 99% and 1%, respectively, until the Uncertificated Principal Balance has been reduced to zero and then to REMIC 1 Regular Interest LT1D until the Uncertificated Principal Balance has been reduced to zero. (c) All Realized Losses on the REMIC 1 Regular Interest LT1A, REMIC 1 Regular Interest LT1B, REMIC 1 Regular Interest LT1C and REMIC 1 Regular Interest LT1D shall be deemed to have been allocated in the specified percentages, as follows: with respect to Realized Losses on the Group 1 Loans, first, to Uncertificated Accrued Interest payable to the REMIC I 2 Regular Interests in Interest LT2A and REMIC 2 Regular Interest LT2F up to an aggregate amount equal to the same REMIC 2 Group 1 Interest Loss Allocation Amount, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2A and REMIC 2 Regular Interest LT2F up to an aggregate amount equal to the REMIC 2 Group 1 Principal Loss Allocation Amount, 98% and priority allocated 2%, respectively; third, to Corresponding Certificated Intereststhe Uncertificated Principal Balances of REMIC 2 Regular Interest LT2A, REMIC 2 Regular Interest LT2E and REMIC 2 Regular Interest LT2F, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2E has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2A, REMIC 2 Regular Interest LT2D and REMIC 2 Regular Interest LT2F, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2D has been reduced to zero; and fifth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2A, REMIC 2 Regular Interest LT2C and REMIC 2 Regular Interest LT2F, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2C has been reduced to zero, and with respect to Realized Losses on the Group 2 Loans, first, to Uncertificated Accrued Interest payable to the REMIC 2 Regular Interest LT2G and REMIC 2 Regular Interest LT2L up to an aggregate amount equal to the REMIC 2 Group 2 Interest Loss Allocation Amount, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2G and REMIC 2 Regular Interest LT2L up to an aggregate amount equal to the REMIC 2 Group 2 Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2G, REMIC 2 Regular Interest LT2K and REMIC 2 Regular Interest LT2L, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2K has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2G, REMIC 2 Regular Interest LT2J and REMIC 2 Regular Interest LT2L, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2J has been reduced to zero; and fifth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2G, REMIC 2 Regular Interest LT2I and REMIC 2 Regular Interest LT2L, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2I has been reduced to zero.

Allocation of Realized Losses. (a) Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Servicing Modifications, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment PeriodPeriod or, in the case of a Servicing Modification that constitutes a reduction of the interest rate on a Mortgage Loan, the amount of the reduction in the interest portion of the Monthly Payment due in the month in which such Distribution Date occurs. The amount of each Realized Loss shall be evidenced by an Officers’ ' Certificate. . (b) All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, on the Mortgage Loans shall be allocated or covered as follows: first, by Excess Cash Flow as provided in clause (b)(v) of the definition of "Principal Distribution Amount", to the Class B-6 Certificates until extent of the Certificate Principal Balance thereof has been reduced to zeroExcess Cash Flow for such Distribution Date; second, to by the Class B-5 Certificates reduction of the Overcollateralization Amount, until the Certificate Principal Balance thereof such amount has been reduced to zero; third, to for any remaining Realized Losses on the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourthGroup I Loans, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior A-I Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary and for any remaining Realized Losses on the Mortgage Loans will be allocated among Group II Loans, to the Senior Certificates and Subordinate Class A-II Certificates, on a pro rata basis, as described below. As used herein, an allocation in each case until the Certificate Principal Balances thereof have been reduced to zero. (c) All allocations of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Accrued Certificate Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B A Certificates then outstanding with shall be made by reducing the highest numerical designation Certificate Principal Balance thereof by the amount so allocated, which allocation shall be deemed to have occurred on such Distribution Date; provided that no such reduction shall reduce the Certificate Principal Balance of the Class A Certificates below the aggregate Stated Principal Balance of the Mortgage Loans, as applicable. Allocations of the interest portions of Realized Losses (other than any interest rate reduction resulting from a Servicing Modification) shall be made by operation of the definition of “"Accrued Certificate Principal Balance” Interest" and by operation of the provisions of Section 4.014.02(c). Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions a Realized Loss resulting from an interest rate reduction in connection with a Servicing Modification shall be made by operation of the provisions of Section 4.014.02(c). All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. (ii) All Realized Losses on the Group II Loans shall be allocated on each Distribution Date to the following REMIC Regular Interests in the specified percentages, as follows: first, to Uncertificated Accrued Interest payable to the REMIC I Regular Interests II-AA and II-ZZ up to an aggregate amount equal to the excess of (a) the REMIC I Group I Interest Loss Allocation Amount over (b) Prepayment Interest Shortfalls (to the extent not covered by Eligible Master Servicing Compensation) relating to the Mortgage Loans for such Distribution Date, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of the REMIC I Regular Interests II-A-II and II-ZZ up to an aggregate amount equal to the REMIC I Principal Loss Allocation Amount, 98% and 2%, respectively; and third, to the Uncertificated Principal Balances of REMIC I Regular Interests II-AA, 98%, II-A-II, 1%, and II-ZZ, 1%, until the Uncertificated Principal Balances of REMIC I Regular Interest II-A-II has been reduced to zero. (e) Realized Losses allocated to the Excess Cash Flow or the Overcollateralization Amount pursuant to paragraphs (a), (b) or (c) of this Section, the definition of Accrued Certificate Interest and the operation of Section 4.02(c) shall be deemed allocated to the Class SB Certificates. Realized Losses allocated to the Regular Class SB Certificates shall, to the extent such Realized Losses represent Realized Losses on an interest portion, be allocated to the Class SB Certificates, in reduction of the accrued but unpaid interest thereon. Realized Losses allocated to the Excess Cash Flow pursuant to paragraph (b) of this Section shall be deemed to reduce Accrued Certificate Interest on the Class SB Certificates. Realized Losses allocated to the REMIC I Regular Interests in Overcollateralization Amount pursuant to paragraph (b) of this Section shall be deemed first to reduce the same amount principal balance of the Class SB Certificates until such principal balance shall have been reduced to zero and priority allocated thereafter to Corresponding Certificated Interestsreduce accrued and unpaid interest on the Class SB Certificates.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate' Certificate by the Master Servicer. Realized Losses shall be allocated among the various Classes of Certificates as determined by the Trustee in accordance with the following provisions. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Excess Bankruptcy Losses, Excess Bankruptcy Fraud Losses or Excess Fraud Losses, Extraordinary Losses shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 B Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated second, among all the Senior Class A Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Losses and Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Class A and Class B Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, without priority among the various Classes so specified, to each such Class of Certificates on the basis of their the then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date thereof in the case of the principal portion of a Realized Loss or based on the Monthly Accrued Certificate Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Allocations of Realized Losses which are Default Losses to the Class A Certificates will be made on a pro rata basis, based on their then outstanding Certificate Principal Balances, or the Accrued Certificate Interest thereon, as applicable, between the Class A- 1, Class A-5 and Class A-6 Certxxxxates, on the one hand, and the Class A-2, Class A-3, Class A-4 and Variable Strip Certificates, on the other. Any such Realized Losses so allocated to the Class A-1, Class A-5 and Class A-6 Certificates will be allocated first to the Class A-6 Certificates until the Certificate Principal Balance thereof or the Accrued Certificate Interest thereon, as appropriate, is reduced to zero and then to the Class A-1 and Class A-5 Certificates on a pro rata basis. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to a Class A Certificate shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated, which allocation shall be deemed to have occurred at the close of business on such Distribution Date. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation Certificates, shall be made by operation of the definition of “"Certificate Principal Balance” " and by operation of the provisions of Section 4.014.01(b). Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” "Accrued Certificate Interest" and by operation of the provisions of Section 4.014.01(b) or 4.01(d), as applicable. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.014.01(b) or 4.01(d), as applicable. All Realized Losses and all other losses allocated to a Class of Certificates hereunder under this Section 4.04 will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ ' Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 M-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 M-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 M-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter thereafter, if such Realized Losses will be allocated are on a Discount Mortgage Loan, to the Principal Only Certificates, in an amount equal to the Discount Fraction of the principal portion thereof, and the remainder of such Realized Losses and the entire amount of such Realized Losses on Non-Discount Mortgage Loans among all the Senior Class A Certificates (other than the Principal Only Certificates) and Class R Certificates, on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Losses and Extraordinary Losses on the Non-Discount Mortgage Loans will be allocated among the Senior Certificates Class A (other than the Principal Only Certificates), Class M, Class B and Subordinate Class R Certificates, on a pro rata basis, as described below. The principal portion of such losses on Discount Mortgage Loans will be allocated to the Principal Only Certificates in an amount equal to the related Discount Fraction thereof, and the remainder of such losses on Discount Mortgage Loans will be allocated among the Class A Certificates (other than the Principal Only Certificates), Class M, Class B and Class R Certificates on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Accrued Certificate Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates or, after the Certificate Principal Balances of the Class B Certificates have been reduced to zero, to the Class of Class M Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “"Certificate Principal Balance” " and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” "Accrued Certificate Interest" and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. (a) Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Servicing Modifications, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment PeriodPeriod or, in the case of a Servicing Modification that constitutes a reduction of the interest rate on a Mortgage Loan, the amount of the reduction in the interest portion of the Monthly Payment due in the month in which such Distribution Date occurs. The amount of each Realized Loss shall be evidenced by an Officers’ ' Certificate. All Realized Losses, Losses on the Mortgage Loans (other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, ) shall be allocated as follows: first, to the Class B-6 B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 M-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 M-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 M-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated and, thereafter, among all the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Accrued Certificate Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. . (b) Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class A, Class R, Class M or Class B Certificates then outstanding with the highest numerical designation shall be made by operation of reducing the definition of “Certificate Principal Balance” and Balance thereof by operation of the provisions of Section 4.01amount so allocated, which allocation shall be deemed to have occurred on such Distribution Date. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” "Accrued Certificate Interest" and by operation of the priority of payment provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.014.02(a). All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. . (c) All Realized Losses on the Mortgage Loans shall be allocated on each Distribution Date to the Regular Certificates shall be deemed allocated to the following REMIC I Regular Interests in Interests: to REMIC I Regular Interest LTB until the same amount Uncertificated Principal Balance has been reduced to zero and priority allocated then to Corresponding Certificated InterestsREMIC I Regular Interest LTA until the Uncertificated Principal Balance has been reduced to zero.

Allocation of Realized Losses. (a) Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Servicing Modifications, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment PeriodPeriod or, in the case of a Servicing Modification that constitutes a reduction of the interest rate on a Mortgage Loan, the amount of the reduction in the interest portion of the Monthly Payment due in the month in which such Distribution Date occurs. The amount of each Realized Loss shall be evidenced by an Officers’ ' Certificate. All Realized Losses, Losses on the Mortgage Loans (other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, ) shall be allocated as follows: first, to the Class B-6 Certificates until Excess Cash Flow, by increasing the Certificate amount of clause (iv) of the definition of Principal Balance thereof has been reduced to zeroDistribution Amount; second, to by reduction of the Class B-5 Certificates Overcollateralization Amount, until the Certificate Principal Balance thereof such amount has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zeroM-3 Certificates; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zeroM-2 Certificates; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zeroM-1 Certificates; sixthand thereafter, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior A Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among to the Senior Class A and Class M Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, in an amount equal to a fraction of such losses equal to (x) the aggregate Certificate Principal Balance of the Class A and Class M Certificates over (y) the aggregate Stated Principal Balance of the Mortgage Loans, and the remainder of such losses shall be allocated to the Overcollateralization Amount in reduction of the amount thereof. (b) An allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Accrued Certificate Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B A or Class M Certificates then outstanding with the highest numerical designation shall be made by operation of reducing the definition of “Certificate Principal Balance” and Balance thereof by operation of the provisions of Section 4.01amount so allocated, which allocation shall be deemed to have occurred on such Distribution Date. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” "Accrued Certificate Interest" and by operation of the priority of payment provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.014.02(c). All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. (c) All Realized Losses on the Mortgage Loans shall be allocated on each Distribution Date to the REMIC I Regular Interests as provided in the definition of REMIC I Realized Losses. (d) Realized Losses on the Mortgage Loans allocated to the REMIC I Regular Interest shall be allocated among the REMIC II Regular Interests as provided in the definition of REMIC II Realized Losses. (e) Realized Losses allocated to the Excess Cash Flow or the Overcollateralization Amount pursuant to paragraphs (a) or (b) of this section, the definition of Accrued Certificate Interest and the operation of Section 4.02(c) shall be deemed allocated to the Class SB Certificates. Realized Losses allocated to the Regular Class SB Certificates shall shall, to the extent such Realized Losses represent Realized Losses on an interest portion, be deemed allocated to the REMIC I III Regular Interests in the same amount and priority Interest SB-IO. Realized Losses allocated to Corresponding Certificated Intereststhe Excess Cash Flow pursuant to paragraph (a) shall be deemed to reduce Accrued Certificate Interest on the REMIC III Regular Interest SB-IO. Realized Losses allocated to the Overcollateralization Amount pursuant to paragraph (a) shall be deemed first to reduce the principal balance of the REMIC III Regular Interest SB-PO until such principal balance shall have been reduced to zero and thereafter to reduce accrued and unpaid interest on the REMIC III Regular Interest SB-IO.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. (a) All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, on the Mortgage Loans allocated to any Regular Certificate shall be allocated by the Trustee on each Distribution Date as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zeroNet Monthly Excess Cashflow; second, to the Class B-5 Certificates C Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; , fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifthM-2 Certificates, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such fifth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses will to be allocated among all to the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to of all Classes on any Distribution Date shall be so allocated after the actual distributions to be made on such date as provided above. All references above to the Certificate Principal Balance of any Class of Certificates shall be to the Certificate Principal Balance of such Class immediately prior to the relevant Distribution Date Date, before reduction thereof by any Realized Losses, in the each case to be allocated to such Class of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable Certificates, on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation a Mezzanine Certificate on any Distribution Date shall be made by operation of reducing the definition of “Certificate Principal Balance” and Balance thereof by operation the amount so allocated; any allocation of Realized Losses to a Class C Certificates shall be made by reducing the provisions amount otherwise payable in respect thereof pursuant to Section 4.01(d)(x). No allocations of Section 4.01. Allocations of the interest portions of any Realized Losses shall be made by operation to the Certificate Principal Balances of the definition of “Monthly Interest Distributable Amount” and by operation of Class A Certificates or the provisions of Section 4.01. Allocations of Class P Certificates. (b) All Realized Losses on the principal portion of Debt Service Reductions Group I Mortgage Loans shall be made allocated by operation the Trustee on each Distribution Date to the REMIC 1 Regular Interest LT1A and REMIC 1 Regular Interest LT1B until the Uncertificated Principal Balance of each such REMIC 1 Regular Interest has been reduced to zero; provided however, with respect to the provisions first two Distribution Dates, all Realized Losses on the Initial Group I Mortgage Loans shall be allocated to REMIC 1 Regular Interest LT1A until the Uncertificated Principal Balance of Section 4.01each such REMIC 1 Regular Interest has been reduced to zero, and all Realized Losses on the Subsequent Group I Mortgage Loans shall be allocated to REMIC 1 Regular Interest LT1B until the Uncertificated Principal Balance thereof has been reduced to zero. All Realized Losses on the Group II Mortgage Loans shall be allocated by the Trustee on each Distribution Date to the REMIC 1 Regular Interest LT1C and REMIC 1 Regular Interest LT1D until the Uncertificated Principal Balance of each such REMIC 1 Regular Interest has been reduced to zero; provided however, with respect to the first two Distribution Dates, all Realized Losses on the Initial Group II Mortgage Loans shall be allocated to REMIC 1 Regular Interest LT1C until the Uncertificated Principal Balance of each such REMIC 1 Regular Interest has been reduced to zero, and all other losses Realized Losses on the Subsequent Group II Mortgage Loans shall be allocated to a Class of Certificates hereunder will be allocated among REMIC 1 Regular Interest LT1D until the Certificates of such Class in proportion Uncertificated Principal Balance thereof has been reduced to the Percentage Interests evidenced thereby. zero. (c) All Realized Losses allocated to on the Regular Certificates Mortgage Loans shall be deemed to have been allocated in the specified percentages, as follows: first, to Uncertificated Accrued Interest payable to the REMIC I 2 Regular Interests in Interest LTAA and REMIC 2 Regular Interest LTZZ up to an aggregate amount equal to the same REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LTAA and REMIC 2 Regular Interest LTZZ up to an aggregate amount equal to the REMIC 2 Principal Loss Allocation Amount, 98% and priority allocated 2%, respectively; third, to Corresponding Certificated Intereststhe Uncertificated Principal Balances of REMIC 2 Regular Interest LTAA, REMIC 2 Regular Interest LTM3 and REMIC 2 Regular Interest LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LTM3 has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LTAA, REMIC 2 Regular Interest LTM2 and REMIC 2 Regular Interest LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LTM2 has been reduced to zero; and fifth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LTAA, REMIC 2 Regular Interest LTM1 and REMIC 2 Regular Interest LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LTM1 has been reduced to zero.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ ' Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 M-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 M-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 M-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter and, thereafter, if such Realized Losses will be allocated are on a Discount Mortgage Loan, to the Class A-9 Certificates, in an amount equal to the Discount Fraction of the principal portion thereof, and the remainder of such Realized Losses and the entire amount of such Realized Losses on Non-Discount Mortgage Loans among all the Senior Class A Certificates (other than the Class A-9 Certificates) and Class R Certificates, on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Losses and Extraordinary Losses on the Non-Discount Mortgage Loans will be allocated among the Senior Certificates Class A (other than the Class A-9 Certificates), Class M, Class B and Subordinate Class R Certificates, on a pro rata basis, as described below. The principal portion of such losses on Discount Mortgage Loans will be allocated to the Class A-9 Certificates in an amount equal to the related Discount Fraction thereof, and the remainder of such losses on Discount Mortgage Loans will be allocated among the Class A Certificates (other than the Class A-9 Certificates), Class M, Class B and Class R Certificates on a pro rata basis, as described below; except that the principal portion of Defaulted Mortgage Losses otherwise allocable to the Super Senior Lockout Certificates will be allocated to the Senior Support Lockout Certificates until the Certificate Principal Balance thereof is reduced to zero. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Accrued Certificate Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates or, after the Certificate Principal Balances of the Class B Certificates have been reduced to zero, to the Class of Class M Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “"Certificate Principal Balance” " and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” "Accrued Certificate Interest" and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. (a) Prior to each Distribution Determination Date, the Master Servicer shall determine as to each Mortgage Loan and REO Property: (i) the total amount of Realized Losses, if any, that resulted from incurred in connection with any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred Final Recovery Determinations made during the related Prepayment Collection Period; and (ii) the respective portions of such Realized Losses allocable to interest and allocable to principal. Prior to each Determination Date, the Servicer shall also determine as to each Mortgage Loan: (i) the total amount of Realized Losses, if any, incurred in connection with any Deficient Valuations made during the related Collection Period; and (ii) the total amount of Realized Losses, if any, incurred in connection with Debt Service Reductions in respect of Monthly Payments due during the related Collection Period. The amount of each Realized Loss information described in the two preceding sentences that is to be supplied by the Servicer shall be evidenced by an Officers’ Certificate. All Realized Lossesset forth in the related Remittance Report. (b) If, other than Excess Special Hazard Lossesafter giving effect to the distribution of the Principal Distribution Amount on any Distribution Date the aggregate Class Certificate Balance of the Offered Certificates exceeds the Pool Principal Balance as of the end of the related Collection Period, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall such excess will be allocated as follows: first, to against the Class B-6 Certificates B, Class M-2 and Class M-1 Certificates, in that order and until the respective Class Certificate Principal Balance Balances thereof has been are reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion such excess in reduction of a Class Certificate Balance is referred to as an "Applied Realized Losses (other than Debt Service Reductions) to the Loss Amount." Any such reduction of a Class B Certificates then outstanding with the highest numerical designation shall Certificate Balance will not be made by operation reversed or reinstated. However, on future Distribution Dates, Certificateholders of the definition related Class may receive amounts in respect of “prior reductions in the related Class Certificate Principal Balance” and by operation of the provisions of Balances as set forth in Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.014.01(c). All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer Servicer, based solely on the information provided by the related Servicer, shall determine the total amount of Realized Losses, if any, that resulted from with respect to each Loan. Realized Losses on the Loans for any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: Distribution Date will first, to cause a reduction in Net Monthly Excess Cash Flow for that Distribution Date and second, cause a reduction in the Certificate Principal Balance of the Class B-6 CE Certificates for that Distribution Date, until the Certificate Principal Balance thereof has been reduced to zero. To the extent that Realized Losses on a Distribution Date cause the aggregate Certificate Principal Balance of the Offered Certificates after taking into account all distributions on such Distribution Date to exceed the aggregate Principal Balance of the Mortgage Loans as of the last day of the related Due Period, such excess will be allocated first, to the Class M-3 Certificates; second, to the Class B-5 M-2 Certificates; and third, to the Class M-1 Certificates until in each case to reduce the Certificate Principal Balance thereof until it has been reduced to zero; third, . Any allocation of Realized Losses to the a Class B-4 Certificates until M Certificate on any Distribution Date shall be made by reducing the Certificate Principal Balance thereof has by the amount so allocated as of such Distribution Date after all distributions on such Distribution Date have been reduced made; any allocation of Realized Losses to zero; fourth, a Class CE Certificates shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.1(a)(iii)(F). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Senior Certificates or the Class B-3 Certificates until P Certificates. Notwithstanding anything to the contrary in this Agreement, in no event will the Certificate Principal Balance thereof has been of any Class M Certificate be reduced to zero; fifth, more than once in respect of any particular amount both (i) allocable to the Class B-2 Certificates until M Certificate in respect of Realized Losses and (ii) payable as principal to the Holder of the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior Certificates on a pro rata basis, as described below. Any from Net Monthly Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described belowCashflow. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “Certificate Principal Balance” and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the the, Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The principal portion of all Realized Losses allocated to on the Regular Certificates Mortgage Loans shall be deemed allocated on each Distribution Date first, to REMIC I Regular Interest LTI-1 and REMIC I Regular Interest LTI-P, until the Uncertificated Principal Balances have been reduced to zero and then to REMIC I Regular Interest LTI-IO-A, REMIC I Regular Interest LTI-IO-B, REMIC I Regular Interest LTI-IO-C, REMIC I Regular Interest LTI-IO-D, REMIC I Regular Interest LTI-IO-E and REMIC I Regular Interest LTI-IO-F, until the Uncertificated Principal Balances have been reduced to zero. All Realized Losses on the REMIC I Regular Interests shall be allocated on each Distribution Date to the following REMIC II Regular Interests in the same specified percentages, as follows: first, to Uncertificated Accrued Interest payable to the REMIC II Regular Interest LTII-AA and REMIC II Regular Interest LTII-ZZ up to an aggregate amount equal to the REMIC II Interest Loss Allocation Amount, 98% and priority allocated 2%, respectively; second, to Corresponding Certificated Intereststhe Uncertificated Principal Balances of the REMIC II Regular Interest LTII-AA and REMIC II Regular Interest LTII-ZZ up to an aggregate amount equal to the REMIC II Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Principal Balances of REMIC II Regular Interest LTII-AA, 98%, to REMIC II Regular Interest LTII-M3, 1% and to REMIC II Regular Interest LTII_ZZ, 1%, respectively, until the Uncertificated Principal Balances of REMIC II Regular Interest LTII-M3 has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC II Regular Interest LTII-AA, REMIC II Regular Interest LTII-M2 and REMIC II Regular Interest LTII-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC II Regular Interest LTII-M2 has been reduced to zero; and fifth, to the Uncertificated Principal Balances of REMIC II Regular Interest LTII-AA, REMIC II Regular Interest LTII-M1 and REMIC II Regular Interest LTII-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC II Regular Interest LTII-M1 has been reduced to zero.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate' Certificate by the Master Servicer. Realized Losses shall be allocated among the various Classes of Certificates as determined by the Trustee in accordance with the following provisions. All Realized LossesLosses in respect of the Mortgage Loans, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, first to the Class B-3 Certificates until the Certificate Principal Balance thereof of such Class B-3 Certificates has been reduced to zero; fifth, then, to the Class B-2 Certificates until the Certificate Principal Balance thereof of such Class B-2 Certificates has been reduced to zero; sixth, then, to the Class B-1 Certificates until the Certificate Principal Balance thereof of such Class B-1 Certificates has been reduced to zero; , then to the Class M Certificates, until the Certificate Principal Balance thereof is reduced to zero, and, thereafter, any Realized Losses on the Mortgage Loans will be allocated, if any such loss is on a Discount Mortgage Loan, to the Class P Certificates in an amount equal to the related Discount Fraction of the principal portion of such Realized Loss, and thereafter the remainder of such Realized Losses will be allocated among all and the entire amount of such Realized Losses on the Non-Discount Mortgage Loans to the remaining Classes of Senior Certificates (other than the Class P Certificates) on a pro pro-rata basis, basis as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Losses and Extraordinary Losses on Non-Discount Mortgage Loans will be allocated on a pro rata basis among the Senior Certificates (other than the Class P Certificates), Class M Certificates and Subordinate Certificates, as described below. The principal portion of such losses on Discount Mortgage Loans will be allocated to the Class P Certificates in an amount equal to the related Discount Fraction thereof, and the remainder of the principal portion of such losses, and the interest portion of such losses on Discount Mortgage Loans will be allocated among all classes of Certificates (other than the Senior Certificates and Subordinate Class P Certificates, ) on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, without priority among the various Classes so specified, to each such Class of Certificates on the basis of their the then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date thereof in the case of the principal portion of a Realized Loss or based on the Monthly Accrued Certificate Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to a Certificate (except as follows) shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated, which allocation shall be deemed to have occurred at the close of business on such Distribution Date. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the most subordinate Class B of Certificates then outstanding with the highest numerical designation outstanding, shall be made by operation of the definition of “"Certificate Principal Balance” ," and by operation of the provisions of Section 4.014.01(b). Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” "Accrued Certificate Interest" and by operation of the provisions of Section 4.014.01(b). Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.014.01(b). All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated For purposes of the foregoing, the Trustee shall maintain records relating to the Regular Certificates shall be deemed allocated Bankruptcy Amount, Fraud Loss Amount and Special Hazard Amount as in effect from time to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Intereststime.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “Certificate Principal Balance” and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests. For federal income tax purposes, Realized Losses allocated to the Class A-5 Certificates in respect of principal shall be deemed allocated to the Class A-5A Component, and Realized Losses allocated to the Class A-5 Certificates in respect of interest on any Distribution Date shall be allocated among the Class A-5A Component and the Class A-5B Component in proportion to each such component's entitlement to interest on such Distribution Date. For federal income tax purposes, Realized Losses allocated to the Class A-6 Certificates in respect of principal shall be deemed allocated to the Class A-6A Component, and Realized Losses allocated to the Class A-6 Certificates in respect of interest on any Distribution Date shall be allocated among the Class A-6A Component and the Class A-6B Component in proportion to each such component's entitlement to interest on such Distribution Date.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ ' Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 M-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 M-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 M-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter and, thereafter, if such Realized Losses will be allocated are on a Discount Mortgage Loan, to the Class A-14 Certificates, in an amount equal to the Discount Fraction of the principal portion thereof, and the remainder of such Realized Losses and the entire amount of such Realized Losses on Non-Discount Mortgage Loans among all the Senior Class A Certificates (other than the Class A-14 Certificates), Class R Certificates and, in respect of the interest portion of such Realized Losses, the Excess Spread, on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Losses and Extraordinary Losses on the Non-Discount Mortgage Loans will be allocated among the Senior Certificates Class A (other than the Class A-14 Certificates), Class M, Class B and Subordinate Class R Certificates, and, in respect of the interest portion of such Realized Losses, the Excess Spread, on a pro rata basis, as described below. The principal portion of such losses on Discount Mortgage Loans will be allocated to the Class A-14 Certificates in an amount equal to the related Discount Fraction thereof, and the remainder of such losses on Discount Mortgage Loans will be allocated among the Class A Certificates (other than the Class A-14 Certificates), Class M, Class B and Class R Certificates on a pro rata basis, as described below; except that the principal portion of Defaulted Mortgage Losses otherwise allocable to the Super Senior Certificates will be allocated to the Class A-13 Certificates until the Certificate Principal Balance of the Class A-13 Certificates is reduced to zero. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates and the Excess Spread means an allocation on a pro rata basis, among the various Classes so specifiedspecified and the Excess Spread, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Accrued Certificate Interest Distributable Amount thereon or amount of Excess Spread payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Except as provided in the following sentence, any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to a Class of Certificates shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated, which allocation shall be deemed to have occurred on such Distribution Date. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates or, after the Certificate Principal Balances of the Class B Certificates have been reduced to zero, to the Class of Class M Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “"Certificate Principal Balance” " and by operation of the provisions of Section 4.014.02(a). Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” "Accrued Certificate Interest" and by operation of the provisions of Section 4.014.02(a). Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.014.02(a). All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. (a) Prior to each Distribution Determination Date, the Master Servicer shall determine as to each Mortgage Loan and REO Property: (i) the total amount of Realized Losses, if any, that resulted from incurred in connection with any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred Final Recovery Determinations made during the related Prepayment Collection Period; and (ii) the respective portions of such Realized Losses allocable to interest and allocable to principal. Prior to each Determination Date, the Master Servicer shall also determine as to each Mortgage Loan: (i) the total amount of Realized Losses, if any, incurred in connection with any Deficient Valuations made during the related Collection Period; and (ii) the total amount of Realized Losses, if any, incurred in connection with Debt Service Reductions in respect of Monthly Payments due during the related Collection Period. The amount of each Realized Loss information described in the two preceding sentences that is to be supplied by the Master Servicer shall be evidenced by an Officers’ Certificate. a certificate of a Servicing Officer of the Master Servicer delivered to the Trustee by the Master Servicer at the time of delivery of the Remittance Report. (b) All Realized LossesLosses allocated to REMIC I Regular Interest I-LT1 pursuant to Section 4.04(c), other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zeroNet Monthly Excess Cashflow; second, to the Class B-5 Certificates C Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates B Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifthM-2 Certificates, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such fifth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses will to be allocated among to the Certificate Principal Balances of all Classes on any Distribution Date shall be so allocated after the Senior actual distributions to be made on such date as provided above. All references above to the Certificate Principal Balance of any Class of Certificates on a pro rata basisshall be to the Certificate Principal Balance of such Class immediately prior to the relevant Distribution Date, as described below. Any Excess Special Hazard before reduction thereof by any Realized Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will in each case to be allocated among the Senior Certificates and Subordinate to such Class of Certificates, on such Distribution Date. Any allocation of Realized Losses to a pro rata basisClass A Certificate, as described belowa Class M-1 Certificate, a Class M-2 Certificate or a Class B Certificate on any Distribution Date shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated, or in the case of a Class C Certificate, by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(g)(x). As used herein, an allocation of a Realized Loss on a “pro rata "PRO RATA basis” " among two or more specified Classes of Certificates means an allocation on a pro rata PRO RATA basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “Certificate Principal Balance” and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. . (c) All Realized Losses on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date to the Regular Certificates shall be deemed allocated to the following REMIC I Regular Interests in the same specified percentages, as follows: first, to Uncertificated Interest payable to the REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT6 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, 98% and priority 2%, respectively; second, to the Uncertificated Balances of the REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT6 up to an aggregate amount equal to the REMIC I Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Balances of REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT5 and REMIC I Regular Interest I-LT6, 98%, 1% and 1%, respectively, until the Uncertificated Balance of REMIC I Regular Interest I-LT5 has been reduced to zero; fourth, to the Uncertificated Balances of REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT4 and REMIC I Regular Interest I-LT6, 98%, 1% and 1%, respectively, until the Uncertificated Balance of REMIC I Regular Interest I-LT4 has been reduced to zero; fifth, to the Uncertificated Balances of REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT3 and REMIC I Regular Interest I-LT6, 98%, 1% and 1%, respectively, until the Uncertificated Balance of REMIC I Regular Interest I-LT3 has been reduced to zero; and sixth, to the Uncertificated Balances of REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2 and REMIC I Regular Interest I-LT6, 98%, 1% and 1%, respectively. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses and Extraordinary Losses will be allocated among the REMIC I Regular Interests on a PRO RATA basis. (d) All Realized Losses on the REMIC II Regular Interests shall be allocated by the Trustee on each Distribution Date among the REMIC II Regular Interests in the proportion that Realized Losses are allocated to the related Uncertificated Corresponding Certificated InterestsComponent.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior Certificates (other than the Class A-2 Certificates) on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates (other than the Class A-2 Certificates) and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “Certificate Principal Balance” and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ ' Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 M-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 M-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 M-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and, thereafter, to the Class A Certificates and thereafter Class R Certificates and, in respect of the interest portion of such Realized Losses will be allocated among all Losses, the Senior Certificates Excess Spread, on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Losses and Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates Class A, Class M, Class B and Subordinate Class R Certificates, and, in respect of the interest portion of such Realized Losses, the Excess Spread, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates and the Excess Spread means an allocation on a pro rata basis, among the various Classes so specifiedspecified and the Excess Spread, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Accrued Certificate Interest Distributable Amount thereon or amount of Excess Spread payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Except as provided in the following sentence, any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to a Class of Certificates shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated, which allocation shall be deemed to have occurred on such Distribution Date. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates or, after the Certificate Principal Balances of the Class B Certificates have been reduced to zero, to the Class of Class M Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “"Certificate Principal Balance” " and by operation of the provisions of Section 4.014.02(a). Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” "Accrued Certificate Interest" and by operation of the provisions of Section 4.014.02(a). Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.014.02(a). All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. (a) All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, on the Mortgage Loans shall be allocated by the Certificate Administrator on each Distribution Date as follows: first, to ----- the Class B-6 Certificates O Certificates, until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates M-3 Certificates, until the ------ Certificate Principal Balance thereof has been reduced to zero; third, to the ----- Class B-4 Certificates M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate ------ Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basisfifth, among the various Classes so specifiedClass A ----- Certificates, pursuant to each such Class of Certificates on Subsection 4.07(b). All Realized Losses to be allocated to the basis of their then outstanding Certificate Principal Balances prior to giving effect to of all Classes on any Distribution Date shall be so allocated after the actual distributions to be made on such date as provided above. All references above to the Certificate Principal Balance of any Class of Certificates shall be to the Certificate Principal Balance of such Class immediately prior to the relevant Distribution Date Date, before reduction thereof by any Realized Losses, in the each case to be allocated to such Class of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable Certificates, on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the a Class B Certificates then outstanding with the highest numerical designation O Certificate or to a Mezzanine Certificate on any Distribution Date shall be made by operation of reducing the definition of “Certificate Principal Balance” and Balance thereof by operation of the provisions of Section 4.01. Allocations of the interest portions of amount so allocated. (b) Realized Losses shall be made by operation of allocable to the definition of “Monthly Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of A Certificates hereunder will be allocated among the Class A Certificates by first computing the Allocable Share of the Realized Loss for each such Class in proportion of Certificates. The "Allocable Share" is a pro rata portion of the Realized Loss, based on the relative portions of the Certificate Principal Balances of the Class A-1 Certificates, the Class A-2 Certificates and the Class A-3 Certificates. The Allocable Shares of Realized Losses for the Class A-2 Certificates and the Class A-3 Certificates will be allocated, respectively, to each such Class. The Allocable Share of Realized Losses for the Class A-1 Certificates, however, will be allocated first to the Percentage Interests evidenced thereby. Realized Losses Class A-2 Certificates until the Certificate Principal Balance of the Class A-2 Certificates is reduced to zero and thereafter shall be allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated InterestsClass A-1 Certificates.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. (a) All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, on the Mortgage Loans allocated to any Regular Certificate shall be allocated by the Trustee on each Distribution Date as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zeroNet Monthly Excess Cashflow; second, to the Class B-5 Certificates C Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixthM-2 Certificates, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such sixth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses will to be allocated among all to the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to of all Classes on any Distribution Date shall be so allocated after the actual distributions to be made on such date as provided above. All references above to the Certificate Principal Balance of any Class of Certificates shall be to the Certificate Principal Balance of such Class immediately prior to the relevant Distribution Date Date, before reduction thereof by any Realized Losses, in the each case to be allocated to such Class of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable Certificates, on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation a Mezzanine Certificate on any Distribution Date shall be made by operation of reducing the definition of “Certificate Principal Balance” and Balance thereof by operation the amount so allocated; any allocation of Realized Losses to a Class C Certificates shall be made by reducing the provisions amount otherwise payable in respect thereof pursuant to Section 4.01(d)(xi). No allocations of Section 4.01. Allocations of the interest portions of any Realized Losses shall be made by operation to the Certificate Principal Balances of the definition of “Monthly Interest Distributable Amount” and by operation of Class A Certificates or the provisions of Section 4.01. Allocations of Class P Certificates. (b) All Realized Losses on the principal portion of Debt Service Reductions Group I Mortgage Loans shall be made deemed to have been allocated by operation of the provisions of Section 4.01Trustee on each Distribution Date to REMIC 1 Regular Interest LT1A until the Uncertificated Principal Balance has been reduced to zero, then to REMIC 1 Regular Interest LT1B until the Uncertificated Principal Balance has been reduced to zero and then to REMIC 1 Regular Interest LT1C until the Uncertificated Principal Balance has been reduced to zero. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among on the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates Group II Mortgage Loans shall be deemed to have been allocated by the Trustee on each Distribution Date to REMIC 1 Regular Interest LT1A until the Uncertificated Principal Balance has been reduced to zero, then to REMIC 1 Regular Interest LT1D until the Uncertificated Principal Balance has been reduced to zero and then to REMIC 1 Regular Interest LT1E until the Uncertificated Principal Balance has been reduced to zero. 110 (c) All Realized Losses on the Mortgage Loans shall be deemed to have been allocated in the specified percentages, as follows: first, to Uncertificated Accrued Interest payable to the REMIC I 2 Regular Interests in Interest LT2AA and REMIC 2 Regular Interest LT2ZZ up to an aggregate amount equal to the same REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2AA and REMIC 2 Regular Interest LT2ZZ up to an aggregate amount equal to the REMIC 2 Principal Loss Allocation Amount, 98% and priority allocated 2%, respectively; third, to Corresponding Certificated Intereststhe Uncertificated Principal Balances of REMIC 2 Regular Interest LT2AA, REMIC 2 Regular Interest LT2M4 and REMIC 2 Regular Interest LT2ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2M4 has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2AA, REMIC 2 Regular Interest LT2M3 and REMIC 2 Regular Interest LT2ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2M3 has been reduced to zero; fifth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2AA, REMIC 2 Regular Interest LT2M2 and REMIC 2 Regular Interest LT2ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2M2 has been reduced to zero; and sixth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2AA, REMIC 2 Regular Interest LT2M1 and REMIC 2 Regular Interest LT2ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2M1 has been reduced to zero.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ ' Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “"Certificate Principal Balance” " and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “"Monthly Interest Distributable Amount” " and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests. For federal income tax purposes, Realized Losses allocated to the Class A-5 Certificates in respect of principal shall be deemed allocated to the Class A-5A Component, and Realized Losses allocated to the Class A-5 Certificates in respect of interest on any Distribution Date shall be allocated among the Class A-5A Component and the Class A-5B Component in proportion to each such component's entitlement to interest on such Distribution Date. For federal income tax purposes, Realized Losses allocated to the Class A-6 Certificates in respect of principal shall be deemed allocated to the Class A-6A Component, and Realized Losses allocated to the Class A-6 Certificates in respect of interest on any Distribution Date shall be allocated among the Class A-6A Component and the Class A-6B Component in proportion to each such component's entitlement to interest on such Distribution Date.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ ' Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “"Certificate Principal Balance” " and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “"Monthly Interest Distributable Amount” " and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests. For federal income tax purposes, Realized Losses allocated to the Class A-7 Certificates in respect of principal shall be deemed allocated to the Class A-7A Component, and Realized Losses allocated to the Class A-7 Certificates in respect of interest on any Distribution Date shall be allocated between the Class A-7A Component and the Class A-7B Component in proportion to each such component's entitlement to interest on such Distribution Date.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ ' Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “"Certificate Principal Balance” " and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “"Monthly Interest Distributable Amount” " and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests. For federal income tax purposes, Realized Losses allocated to the Class A-5 Certificates in respect of principal shall be deemed allocated to the Class A-5A Component, and Realized Losses allocated to the Class A-5 Certificates in respect of interest on any Distribution Date shall be allocated between the Class A-5A Component and the Class A-5B Component in proportion to each such component's entitlement to interest on such Distribution Date.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “Certificate Principal Balance” and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests. For federal income tax purposes, Realized Losses allocated to the Class A-7 Certificates in respect of principal shall be deemed allocated to the Class A-7A Component and Realized Losses allocated to the Class A-7 Certificates in respect of interest on any Distribution Date shall be allocated between the Class A-7A Component and the Class A-7B Component in proportion to each such component’s entitlement to interest on such Distribution Date.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate' Certificate by the Master Servicer. Realized Losses shall be allocated among the various Classes of Certificates as determined by the Trustee in accordance with the following provisions. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Excess Bankruptcy Losses, Excess Bankruptcy Fraud Losses or Excess Fraud Losses, Extraordinary Losses shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 B Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated second, among all the Senior Class A Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Losses and Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Class A and Class B Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, without priority among the various Classes so specified, to each such Class of Certificates on the basis of their the then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date thereof in the case of the principal portion of a Realized Loss or based on the Monthly Accrued Certificate Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Allocations of Realized Losses which are Default Losses to the Class A Certificates will be made on a pro rata basis, based on their then outstanding Certificate Principal Balances, or the Accrued Certificate Interest thereon, as applicable, between the Class A- 0, Class A-5 and Class A-6 Certificates, on the one hand, and the Class A-2, Class A-3, Class A-4 and Variable Strip Certificates, on the other. Any such Realized Losses so allocated to the Class A-1, Class A-5 and Class A-6 Certificates will be allocated first to the Class A-6 Certificates until the Certificate Principal Balance thereof or the Accrued Certificate Interest thereon, as appropriate, is reduced to zero and then to the Class A-1 and Class A-5 Certificates on a pro rata basis. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to a Class A Certificate shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated, which allocation shall be deemed to have occurred at the close of business on such Distribution Date. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation Certificates, shall be made by operation of the definition of “"Certificate Principal Balance” " and by operation of the provisions of Section 4.014.01(b). Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” "Accrued Certificate Interest" and by operation of the provisions of Section 4.014.01(b) or 4.01(d), as applicable. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.014.01(b) or 4.01(d), as applicable. All Realized Losses and all other losses allocated to a Class of Certificates hereunder under this Section 4.04 will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. Prior (a) No later than two Business Days prior to each Distribution Date, the Master Servicer shall determine based solely on information provided by the related Servicer as to each Mortgage Loan and REO Property: (i) the total amount of Realized Losses, if any, that resulted from incurred in connection with any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred Final Recovery Determinations made during the related Prepayment Period; (ii) whether and the extent to which such Realized Losses constituted Bankruptcy Losses; and (iii) the respective portions of such Realized Losses allocable to interest and allocable to principal. The No later than two Business Days prior to each Distribution Date, the Master Servicer shall also determine as to each Mortgage Loan: (i) the total amount of each Realized Loss shall be evidenced by an Officers’ Certificate. All Realized Losses, other than Excess Special Hazard if any, incurred in connection with any Deficient Valuations made during the related Prepayment Period; and (ii) the total amount of Realized Losses, Extraordinary Lossesif any, Excess Bankruptcy incurred in connection with Debt Service Reductions in respect of Monthly Payments due during the related Due Period. (b) All Realized Losses or Excess Fraud Losses, on the Mortgage Loans allocated to any REMIC I Regular Interest pursuant to Section 4.04(c) on the Mortgage Loans shall be allocated by the Master Servicer on each Distribution Date as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zeroNet Monthly Excess Cashflow; second, to the Class B-5 Certificates CE Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifthM-2 Certificates, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such fifth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses will to be allocated among to the Certificate Principal Balances of all Classes on any Distribution Date shall be so allocated after the Senior actual distributions to be made on such date as provided above. All references above to the Certificate Principal Balance of any Class of Certificates on a pro rata basisshall be to the Certificate Principal Balance of such Class immediately prior to the relevant Distribution Date, as described below. Any Excess Special Hazard before reduction thereof by any Realized Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will in each case to be allocated among the Senior Certificates and Subordinate to such Class of Certificates, on such Distribution Date. Any allocation of Realized Losses to a pro rata basis, as described belowMezzanine Certificate on any Distribution Date shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated; any allocation of Realized Losses to a Class CE Certificates shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(a)(7)(xiii). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “Certificate Principal Balance” and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the the, Certificates of such Class in proportion to the Percentage Interests evidenced thereby. . (c) All Realized Losses allocated to on the Regular Certificates Mortgage Loans shall be deemed allocated by the Trustee on each Distribution Date to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT2 until the Uncertificated Balances thereof have been reduced to zero. (d) All Realized Losses on the REMIC I Regular Interests shall be allocated by the Trustee on each Distribution Date to the following REMIC II Regular Interests in the same specified percentages, as follows: first, to Uncertificated Interest payable to the REMIC II Regular Interest II-LTAA and REMIC II Regular Interest II-LTZZ up to an aggregate amount equal to the REMIC II Interest Loss Allocation Amount, 98% and priority allocated 2%, respectively; second, to Corresponding Certificated Intereststhe Uncertificated Balances of the REMIC II Regular Interest II-LTAA and REMIC II Regular Interest II-LTZZ up to an aggregate amount equal to the REMIC II Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Balances of REMIC II Regular Interest II-LTAA, REMIC II Regular Interest II-LTM3 and REMIC II Regular Interest II-LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Balance of REMIC II Regular Interest II-LTM3 has been reduced to zero; fourth, to the Uncertificated Balances of REMIC II Regular Interest II-LTAA, REMIC II Regular Interest II-LTM2 and REMIC II Regular Interest II-LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Balance of REMIC II Regular Interest II-LTM2 has been reduced to zero; and fifth, to the Uncertificated Balances of REMIC II Regular Interest II-LTAA, REMIC II Regular Interest II-LTM1 and REMIC II Regular Interest II-LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Balance of REMIC II Regular Interest II-LTM1 has been reduced to zero.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. (a) All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, on the Mortgage Loans allocated to any Regular Certificate shall be allocated by the Trustee on each Distribution Date as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zeroNet Monthly Excess Cashflow; second, to the Class B-5 Certificates C Interest and the related Class C Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; , fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifthM-2 Certificates, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such fifth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses will to be allocated among all to the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to of all Classes on any Distribution Date shall be so allocated after the actual distributions to be made on such date as provided above. All references above to the Certificate Principal Balance of any Class of Certificates shall be to the Certificate Principal Balance of such Class immediately prior to the relevant Distribution Date Date, before reduction thereof by any Realized Losses, in the each case to be allocated to such Class of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable Certificates, on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation a Mezzanine Certificate on any Distribution Date shall be made by operation of reducing the definition of “Certificate Principal Balance” and Balance thereof by operation the amount so allocated; any allocation of Realized Losses to a Class C Certificates shall be made by reducing the provisions amount otherwise payable in respect thereof pursuant to Section 4.01(d)(xi). No allocations of Section 4.01. Allocations of the interest portions of any Realized Losses shall be made by operation to the Certificate Principal Balances of the definition of “Monthly Interest Distributable Amount” and by operation of Class A Certificates or the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. Class P Certificates. (b) All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among on the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates Mortgage Loans shall be deemed to have been allocated in the specified percentages, as follows: first, to Uncertificated Accrued Interest payable to the REMIC I 1 Regular Interests in Interest LTAA and REMIC 1 Regular Interest LTZZ up to an aggregate amount equal to the same REMIC 1 Interest Loss Allocation Amount, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LTAA and REMIC 1 Regular Interest LTZZ up to an aggregate amount equal to the REMIC 1 Principal Loss Allocation Amount, 98% and priority allocated 2%, respectively; third, to Corresponding Certificated Intereststhe Uncertificated Principal Balances of REMIC 1 Regular Interest LTAA, REMIC 1 Regular Interest LTM3 and REMIC 1 Regular Interest LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LTM3 has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LTAA, REMIC 1 Regular Interest LTM2 and REMIC 1 Regular Interest LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LTM2 has been reduced to zero; and fifth, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LTAA, REMIC 1 Regular Interest LTM1 and REMIC 1 Regular Interest LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LTM1 has been reduced to zero.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “Certificate Principal Balance” and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests. For federal income tax purposes, Realized Losses allocated to the Class A-8 Certificates in respect of principal shall be deemed allocated to the Class A-8A Component and Realized Losses allocated to the Class A-8 Certificates in respect of interest on any Distribution Date shall be allocated between the Class A-8A Component and the Class A-8B Component in proportion to each such component’s entitlement to interest on such Distribution Date.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ ' Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter thereafter, if any such Realized Losses are on a Class P Mortgage Loan, to the Class P Certificates in an amount equal to the Class P Fraction of the principal portion thereof, and the remainder of such Realized Losses on the Class P Mortgage Loans and the entire amount of such Realized Losses on Premium Rate Mortgage Loans will be allocated among all the Senior Certificates (other than the Class P Certificates) on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Premium Rate Mortgage Loans will be allocated among the Senior Certificates (other than the Class P Certificates) and Subordinate Certificates, on a pro rata basis, as described below. The principal portion of such Realized Losses on the Class P Mortgage Loans will be allocated to the Class P Certificates in an amount equal to the Class P Fraction thereof and the remainder of such Realized Losses on the Class P Mortgage Loans and the entire amount of such Realized Losses on Premium Rate Mortgage Loans 87 will be allocated among the Senior Certificates (other than the Class P Certificates) and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “"Certificate Principal Balance” " and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “"Monthly Interest Distributable Amount” " and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ ' Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter thereafter, if any such Realized Losses are on a Class P Mortgage Loan, to the Class P Certificates in an amount equal to the Class P Fraction of the principal portion thereof, and the remainder of such Realized Losses on the Class P Mortgage Loans and the entire amount of such Realized Losses on Premium Rate Mortgage Loans will be allocated among all the Senior Certificates (other than the Class P Certificates) on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Premium Rate Mortgage Loans will be allocated among the Senior Certificates (other than the Class P Certificates) and Subordinate Certificates, on a pro rata basis, as described below. The principal portion of such Realized Losses on the Class P Mortgage Loans will be allocated to the Class P Certificates in an amount equal to the Class P Fraction thereof and the remainder of such Realized Losses on the Class P Mortgage Loans and the entire amount of such Realized Losses on Premium Rate Mortgage Loans will be allocated among the Senior Certificates (other than the Class P Certificates) and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “"Certificate Principal Balance” " and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “"Monthly Interest Distributable Amount” " and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ ' Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “"Certificate Principal Balance” " and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “"Monthly Interest Distributable Amount” " and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests. For federal income tax purposes, Realized Losses allocated to the Class A-6 Certificates in respect of principal shall be deemed allocated to the Class A-6A Component, and Realized Losses allocated to the Class A-6 Certificates in respect of interest on any Distribution Date shall be allocated among the Class A-6A Component, the Class A-6B Component and the Class A-6C Component in proportion to each such component's entitlement to interest on such Distribution Date.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate' Certificate by the Master Servicer. Realized Losses shall be allocated among the various Classes of Certificates as determined by the Trustee in accordance with the following provisions. All Realized Losses, Losses other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, first to the Class B-6 Certificates R Certificates, then to the Class B Certificates, then to the Class A-2 Certificates, in each case until the Certificate Principal Balance thereof has been reduced to zero; second, and then the principal portion thereof to the Class B-5 A-1 Certificates until and the Certificate Principal Balance interest portion thereof has been reduced to zero; third, to the Class B-4 S Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to and the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior A-1 Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Losses and Extraordinary Losses on the Mortgage Loans will shall be allocated among to the Senior Class S Certificates, the Class A-1 Certificates, the Class A-2 Certificates, the Class B Certificates and Subordinate Certificates, the Class R Certificates on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, without priority among the various Classes so specified, to each such Class of Certificates on the basis of their the then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date thereof in the case of the principal portion of a Realized Loss or based on the Monthly Accrued Certificate Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal The interest portion of any such Realized Losses (other than Debt Service Reductions) Loss allocated to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “Certificate Principal Balance” and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular R Certificates shall be deemed allocated to between the REMIC I Regular Interests in Class R Components thereof on a pro rata basis based on the same amount and priority allocated to Corresponding Certificated Interests.Accrued Certificate Interest

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer Servicer, based solely on the information provided by the related Servicer, shall determine the total amount of Realized Losses, if any, that resulted from with respect to each Loan. Realized Losses on the Loans for any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: Distribution Date will first, to cause a reduction in Net Monthly Excess Cash Flow for that Distribution Date, second, reduce the available cap payments from the Cap Provider and available Net Swap Payments from the Swap Providers, if any, for that Distribution Date, and third cause a reduction in the Certificate Principal Balance of the Class B-6 CE Certificates for that Distribution Date, until the Certificate Principal Balance thereof has been reduced to zero; . To the extent that Realized Losses on a Distribution Date cause the aggregate Certificate Principal Balance of the Class A Certificates, Class M and Class P Certificates, after taking into account all distributions on such Distribution Date, to exceed the aggregate Principal Balance of the Loans (including amounts on deposit in the Pre-Funding Account) as of the last day of the related Due Period, such excess will be allocated first, to the Class M-8 Certificates, second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; M-7 Certificates, third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; M-6 Certificates, fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifthM-5 certificates, fifth to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zeroM-4 Certificates; sixth, to the Class B-1 M-3 Certificates, seventh, to the Class M-2 Certificates; eighth, to the Class M-1 Certificates until and ninth, to the Class A-3 Certificates, and in each case to reduce the Certificate Principal Balance thereof until it has been reduced to zero; and thereafter . In addition, to the extent the related Servicer receives Subsequent Recoveries with respect to any defaulted Loan, the amount of the Realized Loss with respect to that defaulted Loan will be reduced to the extent such Subsequent Recoveries are applied to reduce the Certificate Principal Balance of any Class of Certificates on any Distribution Date. Any allocation of Realized Losses will to a Class A-3 Certificate or Class M Certificate on any Distribution Date shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated among as of such Distribution Date after all the Senior Certificates distributions on a pro rata basis, as described belowsuch Distribution Date have been made. Any allocation of Realized Losses to a Class CE Certificates shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.1(a)(iii)(h). No allocations of Realized Losses shall be made to the Class A-1, Class A-2 and Class P Certificates. Notwithstanding anything to the contrary in this Agreement, in no event will the Certificate Principal Balance of any Class A-3 Certificate or Class M Certificate be reduced more than once in respect of any particular amount both (i) allocable to the Class A-3 Certificate or Class M Certificate in respect of Realized Losses and (ii) payable as principal to the Holder of the Certificate from Net Monthly Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described belowCashflow. As used herein, an any allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “Certificate Principal Balance” and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Any Subsequent Recoveries collected by the Servicers will be distributed as part of the Available Distribution Amount in accordance with the priorities described under Section 4.1. In addition, the Certificate Principal Balance of each Class of Certificates that has been reduced by the allocation of a Realized Loss to such Certificate will be increased, [on a pro rata basis based on the related Allocated Realized Loss Amount with respect to the Class A Certificates], and in order of seniority with respect to the Class M Certificates, by the amount of such Subsequent Recoveries, but only to the extent that such Certificate has not been reimbursed for the amount of such Realized Loss (or a portion thereof) allocated to such Certificate from Net Monthly Excess Cashflow. Holders of such Certificates will not be entitled to any payment in respect of current interest on the amount of such increases for any Interest Accrual Period preceding the Distribution Date on which such increase occurs. All reductions in the Certificate Principal Balance of a Certificate effected by distributions of principal or allocations of Realized Losses allocated with respect to the Regular Certificates Loans made on any Distribution Date shall be deemed allocated to binding upon all Holders of such Certificate and of any Certificate issued upon the REMIC I Regular Interests registration of transfer or exchange therefor or in the same amount and priority allocated to Corresponding Certificated Interestslieu thereof, whether or not such distribution is noted on such Certificate.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 M-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 M-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 M-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter and, thereafter, if any such Realized Losses will are on a Discount Mortgage Loan, to the Class PO Certificates in an amount equal to the Discount Fraction of the principal portion thereof, and the remainder of such Realized Losses on the Discount Mortgage Loans and the entire amount of such Realized Losses on Non-Discount Mortgage Loans shall be allocated among all the Senior Certificates (other than the Class PO Certificates) on a pro rata basis, as described below. Any The principal portion of any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Losses and Extraordinary Losses on the Discount Mortgage Loans shall be allocated to the Class PO Certificates in an amount equal to the Discount Fraction thereof and the remainder of such Realized Losses on the Discount Mortgage Loans and the entire amount of such Realized Losses on Non-Discount Mortgage Loans will be allocated among the Senior Certificates (other than the Class PO Certificates) and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Accrued Certificate Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Except as provided in the following sentence, any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to a Class of Certificates shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated, which allocation shall be deemed to have occurred on such Distribution Date. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Subordinate Certificates then outstanding with the highest numerical designation Lowest Priority shall be made by operation of the definition of “"Certificate Principal Balance” " and by operation of the provisions of Section 4.014.02(a). Allocations of the interest portions of Realized Losses shall be made in proportion to the amount of Accrued Certificate Interest and by operation of the definition of “Monthly Interest Distributable Amount” "Accrued Certificate Interest" and by operation of the provisions of Section 4.014.02(a). Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.014.02(a). All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “Certificate Principal Balance” and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests. For federal income tax purposes, Realized Losses allocated to the Class A-6 Certificates in respect of principal shall be deemed allocated to the Class A-6A Component, and Realized Losses allocated to the Class A-6 Certificates in respect of interest on any Distribution Date shall be allocated among the Class A-6A Component, the Class A-6B Component and the Class A-6C Component in proportion to each such component's entitlement to interest on such Distribution Date.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. (a) All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zeroNet Monthly Excess Cashflow; second, to the Class B-5 Certificates C Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates B Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifthM-2 Certificates, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such fifth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses will to be allocated among all to the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to of all Classes on any Distribution Date shall be so allocated after the actual distributions to be made on such date as provided above. All references above to the Certificate Principal Balance of any Class of Certificates shall be to the Certificate Principal Balance of such Class immediately prior to the relevant Distribution Date Date, before reduction thereof by any Realized Losses, in the each case to be allocated to such Class of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable Certificates, on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation a Mezzanine Certificate on any Distribution Date shall be made by operation of reducing the definition of “Certificate Principal Balance” and Balance thereof by operation the amount so allocated. Any allocation of Realized Losses to a Class C Certificate shall be made by reducing the provisions amount otherwise payable in respect thereof pursuant to Section 4.01(d)(viii). No allocations of Section 4.01. Allocations of the interest portions of any Realized Losses shall be made by operation to the Certificate Principal Balances of the definition of “Monthly Interest Distributable Amount” and by operation of Class A Certificates or the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. Class P Certificates. (b) All Realized Losses and all other losses allocated to a Class of Certificates hereunder will on the Mortgage Loans shall be allocated among by the Certificates of such Class in proportion Trustee on each Distribution Date to REMIC 1 Regular Interest LT1A until the Percentage Interests evidenced thereby. Uncertificated Principal Balance has been reduced to zero and then to REMIC 1 Regular Interest LT1B until the Uncertificated Principal Balance has been reduced to zero. (c) All Realized Losses allocated to on the REMIC 1 Regular Certificates Interest LT1A and REMIC 1 Regular Interest LT1B shall be deemed to have been allocated in the specified percentages, as follows: first, to Uncertificated Accrued Interest payable to the REMIC I 2 Regular Interests in Interest LT2A and REMIC 2 Regular Interest LT2I up to an aggregate amount equal to the same REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2A and REMIC 2 Regular Interest LT2I up to an aggregate amount equal to the REMIC 2 Principal Loss Allocation Amount, 98% and priority allocated 2%, respectively; third, to Corresponding Certificated Intereststhe Uncertificated Principal Balances of REMIC 2 Regular Interest LT2A, REMIC 2 Regular Interest LT2H and REMIC 2 Regular Interest LT2I, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2H has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2A, REMIC 2 Regular Interest LT2G and REMIC 2 Regular Interest LT2I, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2G has been reduced to zero; and fifth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2A, REMIC 2 Regular Interest LT2F and REMIC 2 Regular Interest LT2I, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2F has been reduced to zero.

Allocation of Realized Losses. (a) Prior to each Distribution Payment Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition Losses that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: firstOfficer's Certificate delivered to the Indenture Trustee with the related Remittance Report. (b) On each Payment Date following the application of all amounts distributable on such date, to the extent the aggregate Stated Principal Balance of the Group 1 Loans is less than the aggregate Bond Principal Balances of the Class B-6 Certificates 1-A-1 Bonds and Class 1-B-1 Bonds due to Realized Losses on the Group 1 Loans, the Bond Principal Balances of the Class 1-B-1 Bonds shall be reduced, until the Certificate Bond Principal Balance thereof has been reduced to zero; second. Any further losses will be covered by the Bond Insurance Policy in accordance with the terms thereof, however, to the Class B-5 Certificates until extent such Realized Losses are not covered by the Certificate Bond Insurance Policy, the Bond Principal Balance thereof has been of the Class 1-A-1 Bonds will not be reduced to zero; thirdby the amount of such Realized Losses. On each Payment Date following the application of all amounts distributable on such date, to the Class B-4 Certificates until extent the Certificate aggregate Stated Principal Balance thereof has been reduced of the Group 2 Loans is less than the aggregate Bond Principal Balances of the Class 2-A-1 Bonds due to zero; fourthRealized Losses on the Group 2 Loans, such losses will be covered by the Bond Insurance Policy in accordance with the terms thereof, however, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter extent such Realized Losses will be allocated among all are not covered by the Senior Certificates on a pro rata basisBond Insurance Policy, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Bond Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case Balance of the principal portion Class 2-A-1 Bonds will not be reduced by the amount of a such Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “Certificate Principal Balance” and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01Losses. All Realized Losses and all other losses allocated to a Class of Certificates hereunder Bonds will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. Prior (a) On or prior to each Distribution Determination Date, the Master Servicer shall determine the total amount of any Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition Loss in respect of each Mortgage Loan that occurred during the related Prepayment Period. immediately preceding calendar month. (b) The amount interest portion of each Realized Loss shall be evidenced by an Officers’ Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated to the Certificates as described in Section 1.02 hereof. (c) The principal portion of all Realized Losses on the Mortgage Loans shall be allocated on each Distribution Date as follows: first, to in reduction of the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zeroNet Monthly Excess Cashflow; second, to the Class B-5 Certificates X Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifthM-2 Certificates, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter fifth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All such Realized Losses will to be allocated among all to the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to of all such Classes on any Distribution Date shall be so allocated after the actual distributions to be made on such date as provided above. All references above to the Certificate Principal Balance of any Class of Certificates shall be to the Certificate Principal Balance of such Class immediately prior to the relevant Distribution Date Date, before reduction thereof by any Realized Losses, in the each case to be allocated to such Class of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable Certificates, on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation a Subordinate Certificate on any Distribution Date shall be made by operation of reducing the definition of “Certificate Principal Balance” and Balance thereof by operation the amount so allocated; any allocation of Realized Losses to the provisions Class X Certificates shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 5.04(b) clause Third. No allocations of Section 4.01. Allocations of the interest portions of any Realized Losses shall be made by operation to the Certificate Principal Balances of the definition of “Monthly Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01Senior Certificates or Class P Certificates. All such Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. . (d) The REMIC I Marker Allocation Percentage of all Realized Losses on the Mortgage Loans shall be allocated on each Distribution Date to the Regular Certificates shall be deemed allocated to the following REMIC I Regular Interests in the same specified percentages, as follows: first, to Uncertificated Accrued Interest payable to the REMIC I Regular Interest LTI-AA and REMIC I Regular Interest LTI-ZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of REMIC I Regular Interest LTI-AA, REMIC I Regular Interest LTI-M3 and REMIC I Regular Interest LTI-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC I Regular Interest LTI-M3 has been reduced to zero; third, to the Uncertificated Principal Balances of the REMIC I Regular Interest LTI-AA and REMIC I Regular Interest LTI-ZZ up to an aggregate amount equal to the REMIC I Principal Loss Allocation Amount, 98% and 2%, respectively; fourth, to the Uncertificated Principal Balances of REMIC I Regular Interest LTI-AA, REMIC I Regular Interest LTI-M2 and REMIC I Regular Interest LTI-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC I Regular Interest LTI-M2 has been reduced to zero; fifth, to the Uncertificated Principal Balances of REMIC I Regular Interest LTI-AA, REMIC I Regular Interest LTI-M1 and REMIC I Regular Interest LTI-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC I Regular Interest LTI-M1 has been reduced to zero. (e) Notwithstanding anything to the contrary contained herein, if on any Distribution Date the Securities Administrator discovers, based solely on the reports delivered by the Servicer under the Servicing Agreement or this Agreement, that any Subsequent Recoveries have been collected by the Servicer with respect to a Mortgage Loan, the amount of such Subsequent Recoveries will be applied to increase the Certificate Principal Balance of the Class of Subordinate Certificates with the highest payment priority to which Realized Losses have been allocated, but not by more than the amount of Realized Losses previously allocated to Corresponding Certificated Intereststhat Class of Subordinate Certificates pursuant to this Section 5.06. The amount of any remaining Subsequent Recoveries will be applied to sequentially increase the Certificate Principal Balance of the Subordinate Certificates, beginning with the Class of Subordinate Certificates with the next highest payment priority, up to the amount of such Realized Losses previously allocated to such Class of Certificates pursuant to this Section 5.06. Holders of such Certificates will not be entitled to any payment in respect of current interest on the amount of such increases for any Accrual Period preceding the Distribution Date on which such increase occurs. Any such increases shall be applied to the Certificate Principal Balance of each Subordinate Certificate of such Class in accordance with its respective Percentage Interest.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ ' Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter thereafter, if any such Realized Losses are on a Class P Mortgage Loan, to the Class P Certificates in an amount equal to the Class P Fraction of the principal portion thereof, and the remainder of such Realized Losses on the Class P Mortgage Loans and the entire amount of such Realized Losses on Premium Rate Mortgage Loans will be allocated among all the Senior Certificates (other than the Class P Certificates) on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Premium Rate Mortgage Loans will be allocated among the Senior Certificates (other than the Class P Certificates) and Subordinate Certificates, on a pro rata basis, as described below. The principal portion of such Realized Losses on the Class P Mortgage Loans will be allocated to the Class P Certificates in an amount equal to the Class P Fraction thereof and the remainder of such Realized Losses on the Class P Mortgage Loans and the entire amount of such Realized Losses on Premium Rate Mortgage Loans will be allocated among the Senior Certificates (other than the Class P Certificates) and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss; provided that in determining the Certificate Principal Balance of the Class A-8 Certificates or Class A-9 Certificates, for the purpose of allocating any portion of a Realized Loss to those Certificates, the Certificate Principal Balance of the Class A-8 Certificates or Class A-9 Certificates, as applicable, shall be deemed to be the lesser of (i) the original Certificate Principal Balance of the Class A-8 Certificates or Class A-9 Certificates, as applicable and (ii) the Certificate Principal Balance of the Class A-8 Certificates or Class A-9 Certificates, as applicable prior to giving effect to distributions to be made on that Distribution Date. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “"Certificate Principal Balance” " and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “"Monthly Interest Distributable Amount” " and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ ' Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 M-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 M-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 M-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter and, thereafter, if such Realized Losses will be allocated are on a Discount Mortgage NY1-172102.4 105 Loan, to the Class A-12 Certificates, in an amount equal to the Discount Fraction of the principal portion thereof, and the remainder of such Realized Losses and the entire amount of such Realized Losses on Non-Discount Mortgage Loans among all the Senior Certificates (other than the Class A-12 Certificates) and, in respect of the interest portion of such Realized Losses, the Excess Spread, on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Losses and Extraordinary Losses on the Non-Discount Mortgage Loans will be allocated among the Senior Certificates Class A (other than the Class A-12 Certificates), Class M, Class B and Subordinate Class R Certificates, and, in respect of the interest portion of such Realized Losses, the Excess Spread, on a pro rata basis, as described below. The principal portion of such losses on Discount Mortgage Loans will be allocated to the Class A-12 Certificates in an amount equal to the related Discount Fraction thereof, and the remainder of such losses on Discount Mortgage Loans will be allocated among the Class A Certificates (other than the Class A-12 Certificates), Class M, Class B and Class R Certificates on a pro rata basis, as described below; except that Defaulted Mortgage Losses otherwise allocable to the Class A-4 and Class A-7 Certificates will be allocated to the Class A-11 Certificates until the Certificate Principal Balance of the Class A-11 Certificates is reduced to zero. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates and the Excess Spread means an allocation on a pro rata basis, among the various Classes so specifiedspecified and the Excess Spread, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Accrued Certificate Interest Distributable Amount thereon or amount of Excess Spread payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Except as provided in the following sentence, any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to a Class of Certificates shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated, which allocation shall be deemed to have occurred on such Distribution Date. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates or, after the Certificate Principal Balances of the Class B Certificates have been reduced to zero, to the Class of Class M Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “"Certificate Principal Balance” " and by operation of the provisions of Section 4.014.02(a). Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” "Accrued Certificate Interest" and by operation of the provisions of Section 4.014.02(a). Allocations of the principal portion of Debt Service Reductions shall be made by operation of NY1-172102.4 106 the provisions of Section 4.014.02(a). All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. Prior to each Distribution Determination Date, the each Master Servicer shall determine the total amount of Realized LossesLosses with respect to the Mortgage Loans serviced by it, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Periodcalendar month preceding such Distribution Date. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate' Certificate delivered to the Trustee no later than the Determination Date. All Realized Losses, Losses other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated by the Trustee as follows: first, sequentially to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced B-5, Class B-4, Class B-3, Class B-2, Class B-1, Class M, and then to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior Certificates (other than the Class PO Certificates) on a pro rata basis, as described below. The Class PO Fraction of Realized Losses relating to any Class PO Mortgage Loan shall be allocated solely to the Class PO Certificates. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Losses and Extraordinary Losses on the Mortgage Loans (other than the Class PO Fraction of any such Realized Losses attributable to the Class PO Mortgage Loans) will be allocated among the Senior Certificates and Subordinate (other than the Class PO Certificates, ) on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “Certificate Principal Balance” and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.on

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ ' Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 M-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 M-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 M-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter thereafter, the entire amount of such Realized Losses will be allocated on Mortgage Loans among all the Senior Class A Certificates and Class R Certificates, on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Losses and Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates Class A, Class M, Class B and Subordinate Class R Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Accrued Certificate Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates or, after the Certificate Principal Balances of the Class B Certificates have been reduced to zero, to the Class of Class M Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “"Certificate Principal Balance” " and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” "Accrued Certificate Interest" and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. (a) All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, on the Mortgage Loans allocated to any Regular Certificate shall be allocated by the Trustee on each Distribution Date as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zeroNet Monthly Excess Cashflow; second, to the Class B-5 Certificates C Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifthM-2 Certificates, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such fifth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses will to be allocated among all to the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to of all Classes on any Distribution Date shall be so allocated after the actual distributions to be made on such date as provided above. All references above to the Certificate Principal Balance of any Class of Certificates shall be to the Certificate Principal Balance of such Class immediately prior to the relevant Distribution Date Date, before reduction thereof by any Realized Losses, in the each case to be allocated to such Class of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable Certificates, on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation a Mezzanine Certificate on any Distribution Date shall be made by operation reducing the Certificate Principal Balance thereof by the amount so allocated; any allocation of Realized Losses to a Class C Certificates shall be made first by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(ix). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the definition Senior Certificates or the Class P Certificates. 99 (i) The REMIC 1 Marker Allocation Percentage of “all Realized Losses on the Mortgage Loans shall be deemed to have been allocated in the specified percentages, as follows: first, to Uncertificated Accrued Interest payable to the REMIC 1 Regular Interest LTAA and REMIC 1 Regular Interest LTZZ up to an aggregate amount equal to the REMIC 1 Interest Loss Allocation Amount, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LTAA and REMIC 1 Regular Interest LTZZ up to an aggregate amount equal to the REMIC 1 Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LTAA, REMIC 1 Regular Interest LTM3 and REMIC 1 Regular Interest LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LTM3 has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LTAA, REMIC 1 Regular Interest LTM2 and REMIC 1 Regular Interest LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LTM2 has been reduced to zero; and fifth, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LTAA, REMIC 1 Regular Interest LTM1 and REMIC 1 Regular Interest LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LTM1 has been reduced to zero. (ii) The REMIC 1 Sub WAC Allocation Percentage of all Realized Losses shall be applied after all distributions have been made on each Distribution Date first, so as to keep the Uncertificated Principal Balance of each REMIC 1 Regular Interest ending with the designation "GRP" equal to 0.01% of the aggregate Principal Balance of the Mortgage Loans in the related Loan Group; second, to each REMIC 1 Regular Interest ending with the designation "SUB," so that the Uncertificated Principal Balance of each such REMIC 1 Regular Interest is equal to 0.01% of the excess of (x) the aggregate Principal Balance of the Mortgage Loans in the related Loan Group over (y) the current Certificate Principal Balance” and by operation Balance of the provisions of Section 4.01. Allocations of Senior Certificate in the interest portions related Loan Group (except that if any such excess is a larger number than in the preceding distribution period, the least amount of Realized Losses shall be made by operation of applied to such REMIC 1 Regular Interests such that the definition of “Monthly Interest Distributable Amount” REMIC 1 Subordinated Balance Ratio is maintained); and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions third, any remaining Realized Losses shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced therebyREMIC 1 Regular Interest LTXX. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.100

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. (a) All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date as follows: first, to Net Monthly Excess Cashflow, through a distribution of the Class B-6 Certificates until the Certificate Extra Principal Balance thereof has been reduced to zeroDistribution Amount for that Distribution Date; second, to the Overcollateralized Amount by a reduction of the Certificate Principal Balance of the Class B-5 Certificates C Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates B Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifthM-2 Certificates, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such fifth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses will to be allocated among all to the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to of all Classes on any Distribution Date shall be so allocated after the actual distributions to be made on such date as provided above. All references above to the Certificate Principal Balance of any Class of Certificates shall be to the Certificate Principal Balance of such Class immediately prior to the relevant Distribution Date Date, before reduction thereof by any Realized Losses, in the each case to be allocated to such Class of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable Certificates, on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation a Mezzanine Certificate or Subordinate Certificate on any Distribution Date shall be made by operation of reducing the definition of “Certificate Principal Balance” and Balance thereof by operation the amount so allocated. Any allocation of Realized Losses to a Class C Certificate shall be made by reducing the provisions amount otherwise payable in respect thereof pursuant to Section 4.01(c)(viii). No allocations of Section 4.01. Allocations of the interest portions of any Realized Losses shall be made by operation to the Certificate Principal Balances of the definition of “Monthly Interest Distributable Amount” and by operation of Class A Certificates or the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. Class P Certificates. (b) All Realized Losses and all other losses allocated to a Class of Certificates hereunder will on the Mortgage Loans shall be allocated among by the Certificates of such Class in proportion Trustee on each Distribution Date as follows: first, to REMIC 1 Regular Interest LT-1 until the Percentage Interests evidenced thereby. Uncertificated Principal Balance thereof has been reduced to zero, second, to REMIC 1 Regular Interest LT-2 until the Uncertificated Principal Balance thereof has been reduced to zero, third, to REMIC 1 Regular Interest LT-3 until the Uncertificated Principal Balance thereof has been reduced to zero, fourth, to REMIC 1 Regular Interest LT-4 until the Uncertificated Principal Balance thereof has been reduced to zero, and fifth, to REMIC 1 Regular Interest LT-5 until the Uncertificated Principal Balance thereof has been reduced to zero. (c) All Realized Losses on REMIC 1 Regular Interest LT-1, REMIC 1 Regular Interest LT-2, REMIC 1 Regular Interest LT-3, REMIC 1 Regular Interest LT-4 and REMIC 1 Regular Interest LT-5 shall be allocated to the following REMIC 2 Regular Certificates shall be deemed allocated Interests (other than REMIC 2 Regular Interest MT-IO) in the specified percentages, as follows: first to Uncertificated Accrued Interest payable to the REMIC I 2 Regular Interests in Interest MT-AA and REMIC 2 Regular Interest MT-ZZ up to an aggregate amount equal to the same REMIC 2 Interest Loss Allocation Amount, 98% and 2% respectively; second, to the Uncertificated Principal Balances of REMIC 2 Regular Interest MT-AA and REMIC 2 Regular Interest MT-ZZ up to an aggregate amount equal to the REMIC 2 Principal Loss Allocation Amount, 98% and priority allocated 2%, respectively; third, to Corresponding Certificated Intereststhe Uncertificated Principal Balances of REMIC 2 Regular Interest MT-AA, REMIC 2 Regular Interest MT-B and REMIC 2 Regular Interest MT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest MT-B has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest MT-AA, REMIC 2 Regular Interest MT-M2 and REMIC 2 Regular Interest MT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest MT-M2 has been reduced to zero; and fifth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest MT-AA, REMIC 2 Regular Interest MT-M1 and REMIC 2 Regular Interest MT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest MT-M1 has been reduced to zero.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “Certificate Principal Balance” and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. (a) Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Servicing Modifications, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment PeriodPeriod or, in the case of a Servicing Modification that constitutes a reduction of the interest rate on a Mortgage Loan, the amount of the reduction in the interest portion of the Monthly Payment due in the month in which such Distribution Date occurs. The amount of each Realized Loss shall be evidenced by an Officers’ ' Certificate. All Realized Losses, Losses on the Mortgage Loans (other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, ) shall be allocated as follows: first, to the Class B-6 Certificates until Excess Cash Flow, by increasing the Certificate amount of clause (iv) of the definition of Principal Balance thereof has been reduced to zero; Distribution Amount, second, to by reduction of the Class B-5 Certificates Overcollateralization Amount, until the Certificate Principal Balance thereof such amount has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zeroM-3 Certificates; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zeroM-2 Certificates; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zeroM-1 Certificates; sixthand thereafter, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior A Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among to the Senior Class A and Class M Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, in an amount equal to a fraction of such losses equal to (x) the aggregate Certificate Principal Balance of the Class A and Class M Certificates over (y) the aggregate Stated Principal Balance of the Mortgage Loans, and the remainder of such losses shall be allocated to the Overcollateralization Amount in reduction of the amount thereof. (b) An allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Accrued Certificate Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B A or Class M Certificates then outstanding with the highest numerical designation shall be made by operation of reducing the definition of “Certificate Principal Balance” and Balance thereof by operation of the provisions of Section 4.01amount so allocated, which allocation shall be deemed to have occurred on such Distribution Date. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” "Accrued Certificate Interest" and by operation of the priority of payment provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.014.02(c). All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. (c) All Realized Losses on the Mortgage Loans shall be allocated on each Distribution Date to the following REMIC I Regular Interests to REMIC I Regular Interest LT-1 until the Uncertificated Principal Balance has been reduced to zero, then to REMIC I Regular Interest LT-2 until the Uncertificated Principal Balance has been reduced to zero, then to REMIC I Regular Interest LT-3 until the Uncertificated Principal Balance has been reduced to zero, then to REMIC I Regular Interest LT-4 until the Uncertificated Principal Balance has been reduced to zero, then to REMIC I Regular Interest LT-5 until the Uncertificated Principal Balance has been reduced to zero, then to REMIC I Regular Interest LT-6 until the Uncertificated Principal Balance has been reduced to zero. All Realized Losses on the REMIC I Regular Interest LT-1, REMIC I Regular Interest LT-2, REMIC I Regular Interest LT-3, REMIC I Regular Interest LT-4, REMIC I Regular Interest LT-5 and REMIC I Regular Interest LT-6 shall be deemed to have been allocated to the following REMIC II Regular Interests in the specified percentages, as follows: first, to Uncertificated Accrued Interest payable to the REMIC II Regular Interests MT-1 and MT-10 up to an aggregate amount equal to the excess of (a) the REMIC II Interest Loss Allocation Amount over (b) Prepayment Interest Shortfalls (to the extent not covered by Compensating Interest) relating to the Mortgage Loans for such Distribution Date, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of the REMIC II Regular Interests MT-1 and MT-10 up to an aggregate amount equal to the REMIC II Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Principal Balance of REMIC II Regular Interest MT-1, 98%, REMIC II Regular Interests MT-2, MT-3, MT-4, MT-5, MT- 6, MT-7, MT-8 and MT-9, 1%, pro rata with the amount of Realized Losses allocated to the Corresponding Certificates, and REMIC II Regular Certificates shall be deemed allocated Interest MT-10, 1%, respectively, until the Uncertificated Principal Balances of REMIC II Regular Interest MT-2, MT-3, MT-4, MT-5, MT-6, MT-7, MT-8 and MT-9 have been reduced to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interestszero.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer Servicer, based solely on the information provided by the related Servicer, shall determine the total amount of Realized Losses, if any, that resulted from with respect to each Loan. Realized Losses on the Loans for any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: Distribution Date will first, to cause a reduction in Net Monthly Excess Cash Flow for that Distribution Date and second, cause a reduction in the Certificate Principal Balance of the Class B-6 CE Certificates for that Distribution Date, until the Certificate Principal Balance thereof has been reduced to zero. To the extent that Realized Losses on a Distribution Date cause the aggregate Certificate Principal Balance of the Class A Certificates (other than the Class A-X-1, Class A-X-2 and Class A-X Certificates), Class M and Class P Certificates, after taking into account all distributions on such Distribution Date to exceed the aggregate Principal Balance of the Loans as of the last day of the related Due Period, such excess will be allocated first, to the Class M-5 Certificates; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zeroM-4 Certificates; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zeroM-3 Certificates; fourth, to the Class B-3 M-2 Certificates, fifth, to the Class M-1 Certificates until and sixth, to the Class A Certificates on a pro rata basis based on the Certificate Principal Balance of each such Class, in each case to reduce the Certificate Principal Balance thereof until it has been reduced to zero; fifth. In addition, to the extent the related Servicer receives Subsequent Recoveries with respect to any defaulted Loan, the amount of the Realized Loss with respect to that defaulted Loan will be reduced to the extent such Subsequent Recoveries are applied to reduce the Certificate Principal Balance of any Class B-2 of Certificates until on any Distribution Date. Any allocation of Realized Losses to a Class A Certificate or Class M Certificate on any Distribution Date shall be made by reducing the Certificate Principal Balance thereof has by the amount so allocated as of such Distribution Date after all distributions on such Distribution Date have been reduced to zeromade; sixthprovided however, that, with respect to the Class B-1 Certificates until A-3 Certificates, the Certificate Principal Balance thereof has been will be reduced pursuant to zero; this Section 4.2 only by that amount so allocated and thereafter such not covered by a Guaranteed Distribution made by the Certificate Insurer. Any allocation of Realized Losses to a Class CE Certificates shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.1(a)(iii)(F). No allocations of Realized Losses shall be made to the Class P Certificates. Notwithstanding anything to the contrary in this Agreement, in no event will the Certificate Principal Balance of any Class A Certificate or Class M Certificate be allocated among all reduced more than once in respect of any particular amount both (i) allocable to the Senior Certificates on a pro rata basis, Class A Certificate or Class M Certificate in respect of Realized Losses and (ii) payable as described below. Any principal to the Holder of the Certificate from Net Monthly Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described belowCashflow. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “Certificate Principal Balance” and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Any Subsequent Recoveries collected by the Servicers will be distributed as part of the Available Distribution Amount in accordance with the priorities described under Section 4.1. In addition, the Certificate Principal Balance of each Class of Certificates that has been reduced by the allocation of a Realized Loss to such Certificate will be increased, on a pro rata basis based on the related Allocated Realized Loss Amount with respect to the Senior Certificates, and in order of seniority with respect to the Class M Certificates, by the amount of such Subsequent Recoveries, but only to the extent that such Certificate has not been reimbursed for the amount of such Realized Loss (or a portion thereof) allocated to such Certificate from Net Monthly Excess Cashflow. Holders of such Certificates will not be entitled to any payment in respect of current interest on the amount of such increases for any Interest Accrual Period preceding the Distribution Date on which such increase occurs. All reductions in the Certificate Principal Balance of a Certificate effected by distributions of principal or allocations of Realized Losses with respect to Loans made on any Distribution Date shall be binding upon all Holders of such Certificate and of any Certificate issued upon the registration of transfer or exchange therefor or in lieu thereof, whether or not such distribution is noted on such Certificate. All Realized Losses on the Loans shall be allocated on each Distribution Date to the Regular Certificates shall be deemed allocated to the following REMIC I Regular Interests in the specified percentages, as follows: first, to Uncertificated Accrued Interest payable to the REMIC I Regular Interest AA and REMIC I Regular Interest ZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of the REMIC I Regular Interest AA and REMIC I Regular Interest ZZ up to an aggregate amount equal to the REMIC I Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Principal Balances of REMIC I Regular Interest AA, REMIC I Regular Interest M-5 and REMIC I Regular Interest ZZ, 98% 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC I Regular Interest M-5 has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC I Regular Interest AA, REMIC I Regular Interest M-4 and REMIC I Regular Interest ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC I Regular Interest M-4 has been reduced to zero; fifth, to the Uncertificated Principal Balances of REMIC I Regular Interest AA, REMIC I Regular Interest M-3 and REMIC I Regular Interest ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC I Regular Interest M-3 has been reduced to zero; sixth, to the Uncertificated Principal Balances of REMIC I Regular Interest AA, REMIC I Regular Interest M-2 and REMIC I Regular Interest ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC I Regular Interest M-2 has been reduced to zero; and seventh, to the Uncertificated Principal Balances of REMIC I Regular Interest AA, REMIC I Regular Interest M-1 and REMIC I Regular Interest ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC I Regular Interest M-1 has been reduced to zero. All Realized Losses on the REMIC II Regular Interests shall be allocated in the same amount order and priority as Realized Losses are allocated to the Corresponding Certificated InterestsInterest. All Realized Losses on the REMIC III Regular Interests shall be allocated in the same order and priority as Realized Losses are allocated to the Corresponding Certificates.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate' Certificate by the Master Servicer. Realized Losses shall be allocated among the various Classes of Certificates as determined by the Trustee in accordance with the following provisions. All Realized Losses, Losses other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, first to the Class B-6 R Certificates, then to the Class SB Certificates (to the extent of the interest portions of such Realized Losses), then to the Class B Certificates, then to the Class A-2 Certificates, in each case (other than for the Class SB Certificates) until the Certificate Principal Balance thereof has been reduced to zero; second, and, thereafter, the principal portion of any Realized Losses on the Mortgage Loans will be allocated to the Class B-5 A-1 Certificates until and the Certificate Principal Balance interest portion thereof has been reduced to zero; third, to the Class B-4 SA Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the and Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior A-1 Certificates on a pro rata basis. Notwithstanding the foregoing, as described belowsuch Realized Losses on the Mortgage Loans will not be allocated to any of the Senior Certificates or the Class B Certificates on any Distribution Date to the extent that such Realized Losses are less than the sum of (i) the Available Distribution Amount on such Distribution Date after the distribution made pursuant to Section 4.01(b)(vii) and (ii) the Certificate Principal Balance of the Class R Certificates immediately prior to such Distribution Date. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Losses and Extraordinary Losses on the Mortgage Loans will be allocated among to the Senior Class SA Certificates, the Class A-1 Certificates, the Class A-2 Certificates, the Class B Certificates, the Class SB Certificates and Subordinate Certificates, the Class R Certificates on a pro rata basis, as and to the extent described below. Notwithstanding the foregoing, any such Realized Losses on the Mortgage Loans will not be allocated to any of the Senior Certificates or Class B Certificates on any Distribution Date to the extent that such Realized Losses together with any other Realized Losses are less than the sum of (i) the portion of the Available Distribution Amount on such Distribution Date remaining after the distribution made pursuant to Section 4.01(b)(vii) and (ii) the Certificate Principal Balance of the Class R Certificates immediately prior to such Distribution Date. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, without priority among the various Classes so specified, to each such Class of Certificates on the basis of their the then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date thereof in the case of the principal portion of a Realized Loss or based on the Monthly Accrued Certificate Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to a Certificate (except as follows) shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated, which allocation shall be deemed to have occurred at the close of business on such Distribution Date. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the most subordinate Class B of Certificates then outstanding with the highest numerical designation outstanding, shall be made by operation of the definition of “"Certificate Principal Balance” ," and by operation of the provisions of Section 4.014.01(b). Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” "Accrued Certificate Interest" and by operation of the provisions of Section 4.014.01(b). Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.014.01(b). All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated For purposes of the foregoing, the Trustee shall maintain records relating to the Regular Certificates shall be deemed allocated Bankruptcy Amount, Fraud Loss Amount and Special Hazard Amount as in effect from time to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Intereststime.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ ' Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 M-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 M-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 M-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter thereafter, the entire amount of such Realized Losses will be allocated on Mortgage Loans among all the Senior Class A Certificates and Class R Certificates and the Excess Servicing Strip, on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Losses and Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Class A, Class M, Class B and Class R Certificates and Subordinate Certificatesthe Excess Servicing Strip, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates and the Excess Servicing Strip means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or among the various Classes so specified and Excess Servicing Strip based on the Monthly Accrued Certificate Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates or, after the Certificate Principal Balances of the Class B Certificates have been reduced to zero, to the Class of Class M Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “"Certificate Principal Balance” " and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” "Accrued Certificate Interest" and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate' Certificate by the Master Servicer. Realized Losses shall be allocated among the various Classes of Certificates as determined by the Trustee in accordance with the following provisions. All Realized Losses, Losses other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, first to the Class B-6 R Certificates, then to the Class SB Certificates (to the extent of the interest portions of such Realized Losses), then to the Class B-2 Certificates, then to the Class B-1 Certificates, then to the Class A-2 Certificates, in each case (other than for the Class SB Certificates) until the Certificate Principal Balance thereof has been reduced to zero; second, and, thereafter, the principal portion of any Realized Losses on the Mortgage Loans will be allocated to the Class B-5 A-1 Certificates until and the Certificate Principal Balance interest portion thereof has been reduced to zero; third, to the Class B-4 SA Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the and Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior A-1 Certificates on a pro rata basis. Notwithstanding the foregoing, as described belowsuch Realized Losses on the Mortgage Loans will not be allocated to any of the Senior Certificates or the Class B Certificates on any Distribution Date to the extent that such Realized Losses are less than the sum of (i) the Available Distribution Amount on such Distribution Date after the distribution made pursuant to Section 4.01(b)(ix) and (ii) the Certificate Principal Balance of the Class R Certificates immediately prior to such Distribution Date. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Losses and Extraordinary Losses on the Mortgage Loans will be allocated among to the Senior Class SA Certificates, the Class A-1 Certificates, the Class A-2 Certificates, the Class B Certificates, the Class SB Certificates and Subordinate Certificates, the Class R Certificates on a pro rata basis, as and to the extent described below. Notwithstanding the foregoing, any such Realized Losses on the Mortgage loan will not be allocated to any of the Certificates on any Distribution Date to the extent that such Realized losses together with any other Realized Losses are less than the sum of (i) the portion of the Available Distribution Amount on such Distribution Date remaining after the distribution made pursuant to section 4.01 (b)(ix) and (ii) the Certificate Principal Balance of the Class R Certificates immediately prior to such Distribution Date. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses and Extraordinary Losses on the Mortgage Loans will be allocated to the Class SA Certificates, the Class A-1 Certificates, the Class A-2 Certificates, the Class B Certificates, the Class SB Certificates and the Class R Certificates on a pro rata basis, as and to the extent described below. Notwithstanding the foregoing, any such Realized Losses on the Mortgage Loans will not be allocated to any of the Senior Certificates or Class B Certificates on any Distribution Date to the extent that such Realized Losses together with any other Realized Losses are less than the sum of (i) the portion of the Available Distribution Amount on such Distribution Date remaining after the distribution made pursuant to Section 4.01(b)(ix) and (ii) the Certificate Principal Balance of the Class R Certificates immediately prior to such Distribution Date. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, without priority among the various Classes so specified, to each such Class of Certificates on the basis of their the then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date thereof in the case of the principal portion of a Realized Loss or based on the Monthly Accrued Certificate Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to a Certificate (except as follows) shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated, which allocation shall be deemed to have occurred at the close of business on such Distribution Date. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the most subordinate Class B of Certificates then outstanding with the highest numerical designation outstanding, shall be made by operation of the definition of “"Certificate Principal Balance” ," and by operation of the provisions of Section 4.014.01(b). Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” "Accrued Certificate Interest" and by operation of the provisions of Section 4.014.01(b). Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.014.01(b). All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated For purposes of the foregoing, the Trustee shall maintain records relating to the Regular Certificates shall be deemed allocated Bankruptcy Amount, Fraud Loss Amount and Special Hazard Amount as in effect from time to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Intereststime.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ CertificateOfficer's Certificate and shall be based solely upon information provided by the Servicer. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter and, thereafter, if such Realized Losses will are on a Discount Mortgage Loan, to the Class PO Certificates, in an amount equal to the Discount Fraction of the principal portion thereof, and the remainder of such Realized Losses and the entire amount of such Realized Losses on Non-Discount Mortgage Loans shall be allocated among all the Senior Class A Certificates and Class R Certificates, on a pro rata basis, as described below; provided, however, that Realized Losses otherwise allocable to the Super Senior Certificates will be allocated to the Senior Support Lockout Certificates until the Certificate Principal Balance of the Senior Support Lockout Certificates is reduced to zero. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Losses and Extraordinary Losses on the Non-Discount Mortgage Loans will be allocated among the Senior Certificates Class A, Class X, Class B and Subordinate Class R Certificates, on a pro rata basis, as described below. The principal portion of such losses on Discount Mortgage Loans will be allocated to the Class PO Certificates in an amount equal to the related Discount Fraction thereof, and the remainder of such losses on Discount Mortgage Loans will be allocated among the Class A, Class X, Class B and Class R Certificates. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or among the various Classes so specified based on the Monthly Accrued Certificate Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “"Certificate Principal Balance” " and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” "Accrued Certificate Interest" and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ ' Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 M-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 M-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 M-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter thereafter, if such Realized Losses will be allocated are on a Discount Mortgage Loan, to the Principal Only Certificates, in an amount equal to the Discount Fraction of the principal portion thereof, and the remainder of such Realized Losses and the entire amount of such Realized Losses on Non-Discount Mortgage Loans among all the Senior Class A Certificates (other than the Principal Only Certificates) and Class R Certificates, on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Losses and Extraordinary Losses on the Non-Discount Mortgage Loans will be allocated among the Senior Certificates Class A (other than the Principal Only Certificates), Class M, Class B and Subordinate Class R Certificates, on a pro rata basis, as described below. The principal portion of such losses on Discount Mortgage Loans will be allocated to the Principal Only Certificates in an amount equal to the related Discount Fraction thereof, and the remainder of such losses on Discount Mortgage Loans will be allocated among the Class A Certificates (other than the Principal Only Certificates), Class M, Class B and Class R Certificates on a pro rata basis, as described below. Notwithstanding the above, all Realized Losses otherwise allocable to the Super Senior Certificates will be allocated to the related Component until the Component Principal Balance of such Component is reduced to zero. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Accrued Certificate Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates or, after the Certificate Principal Balances of the Class B Certificates have been reduced to zero, to the Class of Class M Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “"Certificate Principal Balance” " and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” "Accrued Certificate Interest" and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. Prior (a) On or prior to each Distribution Determination Date, the Master Servicer shall determine the total amount of Realized Losses, if anyincluding Excess Losses, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during with respect to each Loan Group and the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. All Distribution Date. (b) Realized Losses, other than Excess Bankruptcy Losses, Fraud Losses and Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, with respect to each Loan Group and any Distribution Date shall be allocated as follows: (i) Realized Losses, Bankruptcy Losses, Fraud Losses and Special Hazard Losses with respect to each Loan Group (other than Excess Losses) shall be allocated: first, to the Subordinate Certificates in reverse order of their respective numerical Class B-6 designations (beginning with the Class of Subordinate Certificates with the highest numerical Class designation) until the Class Certificate Principal Balance thereof has been of each such Class is reduced to zero; second, to the related Class B-5 of Senior Mezzanine Certificates until the Class Certificate Principal Balance thereof has been is reduced to zero, and third, to the related Class of Super Senior Certificates until the Class Certificate Balance thereof is reduced to zero; third, and (ii) any Excess Losses on the Mortgage Loans in a Loan Group shall be allocated to the related Classes of Senior Certificates and the related Components of the Subordinate Certificates then outstanding, pro rata, on the basis of the respective Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced Balances of the Classes of Senior Certificates in the related Certificate Group and the respective Component Balances of the Classes of Subordinate Certificates related to zerosuch Loan Group; fourthprovided, to however, that on any Distribution Date occurring on and after the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifthSenior Credit Support Depletion Date, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized any Excess Losses will be allocated among all the related Class of Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, pro rata, based on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such their respective Class of Certificates on the basis of their then outstanding Certificate Principal Balances immediately prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date. (c) in the case of an interest portion of a Realized Loss. Any allocation The Class Certificate Principal Balance of the principal portion Class of Realized Losses (other than Debt Service Reductions) to the Class B Subordinate Certificates then outstanding with the highest numerical Class designation shall be made reduced on each Distribution Date by operation the amount, if any, by which the aggregate of the definition of “Class Certificate Principal Balance” Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and by operation the allocation of Realized Losses, Bankruptcy Losses, Fraud Losses and Special Hazard Losses and Excess Losses on such Distribution Date) exceeds the aggregate of the provisions Stated Principal Balances of Section 4.01. Allocations of all the interest portions of Mortgage Loans for the following Distribution Date. (d) Any Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses Loss, Bankruptcy Loss, Fraud Loss, Special Hazard Loss or Excess Loss allocated to a Class of Certificates hereunder will or any reduction in the Class Certificate Principal Balance of a Class of Certificates pursuant to Section 4.03(b) or (c) shall be allocated among the Certificates of such Class Class, pro rata, in proportion to the Percentage Interests evidenced thereby. their respective Certificate Balances. (e) Any allocation of Realized Losses allocated to a Certificate or any reduction in the Regular Certificates Certificate Balance of a Certificate pursuant to Section 4.03(b) or (c) shall be deemed allocated to accomplished by reducing the REMIC I Regular Interests Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the same amount and priority allocated to Corresponding Certificated Interestsdefinition of "Certificate Balance."

Allocation of Realized Losses. (a) Prior to each Distribution Determination Date, the Master Servicer shall determine as to each Mortgage Loan and REO Property: (i) the total amount of Realized Losses, if any, that resulted from incurred in connection with any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred Final Recovery Determinations made during the related Prepayment Period; and (ii) the respective portions of such Realized Losses allocable to interest and allocable to principal. Prior to each Determination Date, the Servicer shall also determine as to each Mortgage Loan: (i) the total amount of Realized Losses, if any, incurred in connection with any Deficient Valuations made during the related Prepayment Period; and (ii) the total amount of Realized Losses, if any, incurred in connection with Debt Service Reductions in respect of Monthly Payments due during the related Due Period. The amount of each Realized Loss information described in the preceding sentence that is to be supplied by the Servicer shall be evidenced by an Officers’ Certificate. ' Certificate delivered to the Trustee by the Servicer prior to the Determination Date immediately following the end of the Prepayment Period during which any such Realized Loss was incurred. (b) All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zeroNet Monthly Excess Cashflow; second, to the Class B-5 Certificates CE Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 MV-6 Certificates and the Class MF-6 Certificates, on a PRO RATA basis, based on the respective Certificate Principal Balances of such Classes of Certificates, until the respective Certificate Principal Balance Balances thereof has have been reduced to zero; fourth, to the Class B-3 Certificates M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such eighth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses will to be allocated among to the Certificate Principal Balances of all Classes on any Distribution Date shall be so allocated after the Senior actual distributions to be made on such date as provided above. All references above to the Certificate Principal Balance of any Class of Certificates on a pro rata basisshall be to the Certificate Principal Balance of such Class immediately prior to the relevant Distribution Date, as described below. Any Excess Special Hazard before reduction thereof by any Realized Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will in each case to be allocated among the Senior Certificates and Subordinate to such Class of Certificates, on such Distribution Date. Any allocation of Realized Losses to a pro rata basis, as described belowMezzanine Certificate on any Distribution Date shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated; any allocation of Realized Losses to a Class CE Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(a)(4)(xiii). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates. As used herein, an allocation of a Realized Loss on a “pro rata "PRO RATA basis” " among two or more specified Classes of Certificates means an allocation on a pro rata PRO RATA basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “Certificate Principal Balance” and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. . (i) The REMIC I Marker Percentage of all Realized Losses on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date to the Regular Certificates shall be deemed allocated to the following REMIC I Regular Interests in the same specified percentages, as follows: first, to Uncertificated Interest payable to the REMIC I Regular Interest I-LTAA and REMIC I Regular Interest I-LTZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, 98% and priority 2%, respectively; second, to the Uncertificated Balances of the REMIC I Regular Interest I-LTAA and REMIC I Regular Interest I- LTZZ up to an aggregate amount equal to the REMIC I Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Balances of REMIC I Regular Interest I-LTAA, REMIC I Regular Interest I-LTMV6, REMIC Regular Interest I-LTMF6, and REMIC I Regular Interest I- LTZZ, 98%, 0.50%, 0.50% and 1%, respectively, until the Uncertificated Balances of REMIC I Regular Interest I-LTMV6 and REMIC I Regular Interest I-LTMF6 have been reduced to zero; fourth, to the Uncertificated Balances of REMIC I Regular Interest I-LTAA, REMIC I Regular Interest I-LTM5 and REMIC I Regular Interest I-LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Balance of REMIC I Regular Interest I-LTM5 has been reduced to zero; fifth, to the Uncertificated Balances of REMIC I Regular Interest I-LTAA, REMIC I Regular Interest I-LTM4 and REMIC I Regular Interest I-LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Balance of REMIC I Regular Interest I-LTM4 has been reduced to zero; sixth, to the Uncertificated Balances of REMIC I Regular Interest I-LTAA, REMIC I Regular Interest I-LTM3 and REMIC I Regular Interest I-LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Balance of REMIC I Regular Interest I-LTM3 has been reduced to zero; seventh to the Uncertificated Balances of REMIC I Regular Interest I-LTAA, REMIC I Regular Interest I-LTM2 and REMIC I Regular Interest I-LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Balance of REMIC I Regular Interest I-LTM2 has been reduced to zero; and eighth, to the Uncertificated Balances of REMIC I Regular Interest I-LTAA, REMIC I Regular Interest I-LTM1 and REMIC I Regular Interest II-LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Balance of REMIC I Regular Interest I- LTM1 has been reduced to zero. (ii) The REMIC I Sub WAC Allocation Percentage of all Realized Losses shall be applied after all distributions have been made on each Distribution Date first, so as to keep the Uncertificated Balance of each REMIC I Regular Interest ending with the designation "GRP" equal to 0.01% of the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group; second, to each REMIC I Regular Interest ending with the designation "SUB," so that the Uncertificated Balance of each such REMIC I Regular Interest is equal to 0.01% of the excess of (x) the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group over (y) the Certificate Principal Balance of the Class A Certificate in the related Loan Group (except that if any such excess is a larger number than in the preceding distribution period, the least amount of Realized Losses shall be applied to such REMIC I Regular Interests such that the REMIC I Subordinated Balance Ratio is maintained); and third, any remaining Realized Losses shall be allocated to Corresponding Certificated InterestsREMIC I Regular Interest I-LTXX.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. (a) All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, on the Mortgage Loans allocated to any Regular Certificate shall be allocated by the Trustee on each Distribution Date as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zeroNet Monthly Excess Cashflow; second, to the Class B-5 Certificates C Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, concurrently, to the Class B-3 M-2A Certificates and the Class M-2B Certificates, on a PRO RATA basis based on the Certificate Principal Balances thereof, until the Certificate Principal Balances thereof have been reduced to zero; and fifth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, . All Realized Losses to be allocated to the Certificate Principal Balances of all Classes on any Distribution Date shall be so allocated after the actual distributions to be made on such date as provided above. All references above to the Certificate Principal Balance of any Class B-2 of Certificates until shall be to the Certificate Principal Balance of such Class immediately prior to the relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of Realized Losses to a Mezzanine Certificate on any Distribution Date shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated; any allocation of Realized Losses to a Class C Certificates shall be made first by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(x). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class A Certificates or the Class P Certificates. (b) All Realized Losses on the Mortgage Loans shall be deemed to have been allocated in the specified percentages, as follows: first, to Uncertificated Accrued Interest payable to the REMIC 1 Regular Interest LTAA and REMIC 1 Regular Interest LTZZ up to an aggregate amount equal to the REMIC 1 Interest Loss Allocation Amount, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LTAA and REMIC 1 Regular Interest LTZZ up to an aggregate amount equal to the REMIC 1 Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LTAA, REMIC 1 Regular Interest LTM3 and REMIC 1 Regular Interest LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LTM3 has been reduced to zero; sixthfourth, concurrently, to (x) the Class B-1 Certificates Uncertificated Principal Balances of REMIC 1 Regular Interest LTAA, REMIC 1 Regular Interest LTM2A and REMIC 1 Regular Interest LTZZ, 98%, 1% and 1%, respectively, until the Certificate Uncertificated Principal Balance thereof of REMIC 1 Regular Interest LTM2A has been reduced to zero; , and thereafter such Realized Losses will be allocated among all (y) the Senior Certificates on a pro rata basisUncertificated Principal Balances of REMIC 1 Regular Interest LTAA, as described below. Any Excess Special Hazard LossesREMIC 1 Regular Interest LTM2B and REMIC 1 Regular Interest LTZZ, Excess Bankruptcy Losses98%, Excess Fraud Losses1% and 1%, Extraordinary Losses on respectively, until the Mortgage Loans will be allocated among the Senior Certificates and Subordinate CertificatesUncertificated Principal Balance of REMIC 1 Regular Interest LTM2B has been reduced to zero, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the PRO RATA basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly respective Uncertificated Principal Balances of REMIC 1 Regular Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating LTM2A and REMIC 1 Regular Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) LTM2B; and fifth, to the Class B Certificates then outstanding with Uncertificated Principal Balances of REMIC 1 Regular Interest LTAA, REMIC 1 Regular Interest LTM1 and REMIC 1 Regular Interest LTZZ, 98%, 1% and 1%, respectively, until the highest numerical designation shall be made by operation Uncertificated Principal Balance of the definition of “Certificate Principal Balance” and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly REMIC 1 Regular Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated LTM1 has been reduced to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interestszero.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ CertificateOfficer's Certificate and shall be based solely upon information provided by the Servicer. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter and, thereafter, if such Realized Losses will are on a Discount Mortgage Loan, to the Class PO Certificates, in an amount equal to the Discount Fraction of the principal portion thereof, and the remainder of such Realized Losses and the entire amount of such Realized Losses on Non-Discount Mortgage Loans shall be allocated among all the Senior Class A Certificates and Class R Certificates, on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Losses and Extraordinary Losses on the Non-Discount Mortgage Loans will be allocated among the Senior Certificates Class A, Class X, Class B and Subordinate Class R Certificates, on a pro rata basis, as described below. The principal portion of such losses on Discount Mortgage Loans will be allocated to the Class PO Certificates in an amount equal to the related Discount Fraction thereof, and the remainder of such losses on Discount Mortgage Loans will be allocated among the Class A, Class X, Class B and Class R Certificates. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or among the various Classes so specified based on the Monthly Accrued Certificate Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “"Certificate Principal Balance” " and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” "Accrued Certificate Interest" and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ ' Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 R Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Net Monthly Excess Cashflow for such Distribution Date, and third, to the Class B-5 A Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Losses and Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Class A and Class R Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to a Class of Certificates shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated, which allocation shall be deemed to have occurred on such Distribution Date. Any allocation of the principal portion of Realized Losses to the Class B Certificates then outstanding with the highest numerical designation R Certificates, shall be made by operation of the definition of “"Certificate Principal Balance” " and by operation of the provisions of Section 4.014.02(a). Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” "Accrued Certificate Interest" and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.014.02(a). All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. (a) All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zeroNet Monthly Excess Cashflow; second, to the Class B-5 Certificates C Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates B Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifthM-2 Certificates, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such fifth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses will to be allocated among all to the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to of all Classes on any Distribution Date shall be so allocated after the actual distributions to be made on such date as provided above. All references above to the Certificate Principal Balance of any Class of Certificates shall be to the Certificate Principal Balance of such Class immediately prior to the relevant Distribution Date Date, before reduction thereof by any Realized Losses, in the each case to be allocated to such Class of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable Certificates, on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation a Mezzanine Certificate on any Distribution Date shall be made by operation of reducing the definition of “Certificate Principal Balance” and Balance thereof by operation the amount so allocated. Any allocation of Realized Losses to a Class C Certificate shall be made by reducing the provisions amount otherwise payable in respect thereof pursuant to Section 4.01(d)(viii). No allocations of Section 4.01. Allocations of the interest portions of any Realized Losses shall be made by operation to the Certificate Principal Balances of the definition of “Monthly Interest Distributable Amount” and by operation of Class A Certificates or the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. Class P Certificates. (b) All Realized Losses and all other losses allocated to a Class of Certificates hereunder will on the Mortgage Loans shall be allocated among by the Certificates of such Class Trustee on each Distribution Date to REMIC 1 Regular Interest LT1A until the Uncertificated Principal Balance has been reduced to zero and then to REMIC 1 Regular Interest LT1B until the Uncertificated Principal Balance has been reduced to zero. (c) All Realized Losses on the REMIC 1 Regular Interest LT1A and REMIC 1 Regular Interest LT1B shall be deemed to have been allocated in proportion the specified percentages, as follows: first, to Uncertificated Accrued Interest payable to the Percentage REMIC 2 Regular Interest LT2A and REMIC 2 Regular Interest LT2L up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2A and REMIC 2 Regular Interest LT2L up to an aggregate amount equal to the REMIC 2 Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2A, REMIC 2 Regular Interest LT2K and REMIC 2 Regular Interest LT2L, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2K has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2A, REMIC 2 Regular Interest LT2J and REMIC 2 Regular Interest LT2L, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2J has been reduced to zero; and fifth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2A, REMIC 2 Regular Interest LT2I and REMIC 2 Regular Interest LT2L, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2I has been reduced to zero. (d) All Realized Losses on the REMIC 2 Regular Interests evidenced thereby. shall be allocated by the Trustee on each Distribution Date to REMIC 3 Regular Interest LT3C, REMIC 3 Regular Interest LT3B, REMIC 3 Regular Interest LT3M-2 and REMIC 3 Regular Interest LT3M-1, respectively, in accordance with the amount and priority of Realized Losses allocated to the Regular Class C Certificates, the Class B Certificates, the Class M-2 Certificates shall be deemed allocated to and the REMIC I Regular Interests Class M-1 Certificates, respectively, in the same amount and priority allocated to Corresponding Certificated Interestsaccordance with Section 4.05(a).

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. (a) All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, on the Mortgage Loans allocated to any Regular Certificate shall be allocated by the Trustee on each Distribution Date as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zeroNet Monthly Excess Cashflow; second, to the Class B-5 Certificates C Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourthM-2 Certificates, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such fourth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses will to be allocated among all to the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to of all Classes on any Distribution Date shall be so allocated after the actual distributions to be made on such date as provided above. All references above to the Certificate Principal Balance of any Class of Certificates shall be to the Certificate Principal Balance of such Class immediately prior to the relevant Distribution Date Date, before reduction thereof by any Realized Losses, in the each case to be allocated to such Class of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable Certificates, on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation a Mezzanine Certificate on any Distribution Date shall be made by operation of reducing the definition of “Certificate Principal Balance” and Balance thereof by operation the amount so allocated; any allocation of Realized Losses to a Class C Certificate shall be made by reducing the provisions amount otherwise payable in respect thereof pursuant to Section 4.01(d)(viii). No allocations of Section 4.01. Allocations of the interest portions of any Realized Losses shall be made by operation to the Certificate Principal Balances of the definition of “Monthly Interest Distributable Amount” and by operation of Class A Certificates or the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. Class P Certificates. (b) All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among on the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates Mortgage Loans shall be deemed to have been allocated in the specified percentages, as follows: with respect to Realized Losses on the Group I Mortgage Loans, first, to Uncertificated Accrued Interest payable to the REMIC 1 Regular Interest LT1A and REMIC 1 Regular Interest LT1E up to an aggregate amount equal to the REMIC 1 Group I Interest Loss Allocation Amount, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of REMIC 1 Regular Interests in Interest LT1A and REMIC 1 Regular Interest LT1E up to an aggregate amount equal to the same REMIC 1 Group I Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LT1A, REMIC 1 Regular 95 Interest LT1D and REMIC 1 Regular Interest LT1E, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LT1D has been reduced to zero; and fourth, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LT1A, REMIC 1 Regular Interest LT1C and REMIC 1 Regular Interest LT1E, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LT1C has been reduced to zero and with respect to Realized Losses on the Group II Mortgage Loans, first, to Uncertificated Accrued Interest payable to the REMIC 1 Regular Interest LT1F and REMIC 1 Regular Interest LT1J up to an aggregate amount equal to the REMIC 1 Group II Interest Loss Allocation Amount, 98% and priority allocated 2%, respectively; second, to Corresponding Certificated Intereststhe Uncertificated Principal Balances of REMIC 1 Regular Interest LT1F and REMIC 1 Regular Interest LT1J up to an aggregate amount equal to the REMIC 1 Group II Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LT1F, REMIC 1 Regular Interest LT1I and REMIC 1 Regular Interest LT1J, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LT1I has been reduced to zero; and fourth, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LT1F, REMIC 1 Regular Interest LT1H and REMIC 1 Regular Interest LT1J, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LT1H has been reduced to zero.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior Certificates on a pro rata basis, as described below, provided that any of such Realized Losses allocable to the Class A-2 Certificates will be allocated to the Class A-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “Certificate Principal Balance” and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate. (a) All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, on the Mortgage Loans allocated to any REMIC 5 Regular Interest shall be allocated by the Trustee on each Distribution Date as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zeroNet Monthly Excess Cashflow; second, to the Class B-5 Certificates C Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifthM-2 Certificates, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such fifth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses will to be allocated among all to the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to of all Classes on any Distribution Date shall be so allocated after the actual distributions to be made on such date as provided above. All references above to the Certificate Principal Balance of any Class of Certificates shall be to the Certificate Principal Balance of such Class immediately prior to the relevant Distribution Date Date, before reduction thereof by any Realized Losses, in the each case to be allocated to such Class of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable Certificates, on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation a Mezzanine Certificate on any Distribution Date shall be made by operation of reducing the definition of “Certificate Principal Balance” and Balance thereof by operation the amount so allocated; any allocation of Realized Losses to a Class C Certificate shall be made by reducing the provisions amount otherwise payable in respect thereof pursuant to Section 4.01(d)(ix). No allocations of Section 4.01. Allocations of the interest portions of any Realized Losses shall be made by operation to the Certificate Principal Balances of the definition of “Monthly Interest Distributable Amount” and by operation of Class A Certificates or the provisions of Section 4.01Class P Certificates. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. 105 (b) All Realized Losses and all other losses allocated to a Class of Certificates hereunder will on the Mortgage Loans shall be allocated among by the Certificates of such Class in proportion Trustee on each Distribution Date to REMIC 1 Regular Interest LT1A until the Percentage Interests evidenced thereby. Uncertificated Principal Balance has been reduced to zero and then to REMIC 1 Regular Interest LT1B until the Uncertificated Principal Balance has been reduced to zero. (c) All Realized Losses allocated to on the REMIC 1 Regular Certificates Interest LT1A and REMIC 1 Regular Interest LT1B shall be deemed to have been allocated in the specified percentages, as follows: first, to Uncertificated Accrued Interest payable to the REMIC I 2 Regular Interest LT2A and REMIC 2 Regular Interest LT2F up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2A and REMIC 2 Regular Interest LT2F up to an aggregate amount equal to the REMIC 2 Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2A, REMIC 2 Regular Interest LT2E and REMIC 2 Regular Interest LT2F, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2E has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2A, REMIC 2 Regular Interest LT2D and REMIC 2 Regular Interest LT2F, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2D has been reduced to zero; and fifth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2A, REMIC 2 Regular Interest LT2C and REMIC 2 Regular Interest LT2F, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2C has been reduced to zero. (d) All Realized Losses on the REMIC 3 Regular Interests shall be allocated by the Trustee on each Distribution Date among the REMIC 3 Regular Interests in the same amount and priority proportion that Realized Losses are allocated to the related Uncertificated Corresponding Certificated Interests.Component. 106

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ ' Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Monthly Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation shall be made by operation of the definition of “"Certificate Principal Balance” " and by operation of the provisions of Section 4.01. Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “"Monthly Interest Distributable Amount” " and by operation of the provisions of Section 4.01. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.01. All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests. For federal income tax purposes, Realized Losses allocated to the Class A-9 Certificates in respect of principal shall be deemed allocated to the Class A-9A Component, and Realized Losses allocated to the Class A-9 Certificates in respect of interest on any Distribution Date shall be allocated between the Class A-9A Component and the Class A-9B Component in proportion to each such component's entitlement to interest on such Distribution Date.

Allocation of Realized Losses. Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ Certificate' Certificate by the Master Servicer. Realized Losses shall be allocated among the various Classes of Certificates as determined by the Trustee in accordance with the following provisions. All Realized Losses, Losses other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, first to the Class B-6 R Certificates, then to the Class SB Certificates (to the extent of the interest portions of such Realized Losses), then to the Class B Certificates, then to the Class A-2 Certificates, in each case (other than for the Class SB Certificates) until the Certificate Principal Balance thereof has been reduced to zero; second, and then the principal portion thereof to the Class B-5 A-1 Certificates until and the Certificate Principal Balance interest portion thereof has been reduced to zero; third, to the Class B-4 SA Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the and Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated among all the Senior A-1 Certificates on a pro rata basis. In addition, as described belowamounts otherwise distributable on the Class SB Certificates may be applied to reimburse the principal portions of Realized Losses previously allocated to the Senior Certificates or the Class B Certificates. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Losses and Extraordinary Losses on the Mortgage Loans will be allocated among to the Senior Class SA Certificates, the Class A-1 Certificates, the Class A-2 Certificates, the Class B Certificates, the Class SB Certificates and Subordinate Certificates, the Class R Certificates on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “"pro rata basis” " among two or more specified Classes of Certificates means an allocation on a pro rata basis, without priority among the various Classes so specified, to each such Class of Certificates on the basis of their the then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date thereof in the case of the principal portion of a Realized Loss or based on the Monthly Accrued Certificate Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to a Certificate (except as follows) shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated, which allocation shall be deemed to have occurred at the close of business on such Distribution Date. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the most subordinate Class B of Certificates then outstanding with the highest numerical designation outstanding, shall be made by operation of the definition of “"Certificate Principal Balance” ," and by operation of the provisions of Section 4.014.01(b). Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable Amount” "Accrued Certificate Interest" and by operation of the provisions of Section 4.014.01(b). Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.014.01(b). All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated For purposes of the foregoing, the Trustee shall maintain records relating to the Regular Certificates shall be deemed allocated Bankruptcy Amount, Fraud Loss Amount and Special Hazard Amount as in effect from time to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Intereststime.

Allocation of Realized Losses. (a) Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period. The amount of each Realized Loss shall be evidenced by an Officers’ CertificateCertificate by the Master Servicer. Realized Losses shall be allocated among the various Classes of Certificates as determined by the Trustee in accordance with the following provisions. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Excess Bankruptcy Losses, Excess Bankruptcy Fraud Losses or Excess Fraud Losses, Extraordinary Losses shall be allocated as follows: first, to the Class B-6 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-5 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-4 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class B-1 B Certificates until the Certificate Principal Balance thereof has been reduced to zero; and thereafter such Realized Losses will be allocated second, among all the Senior Class A Certificates on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Losses and Extraordinary Losses on the Mortgage Loans will be allocated among the Senior Class A and Class B Certificates and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, without priority among the various Classes so specified, to each such Class of Certificates on the basis of their the then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date thereof in the case of the principal portion of a Realized Loss or based on the Monthly Accrued Certificate Interest Distributable Amount thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Allocations of Realized Losses which are Default Losses to the Class A Certificates will be made on a pro rata basis, based on their then outstanding Certificate Principal Balances, or the Accrued Certificate Interest thereon, as applicable, between the Class X- 0, Class A-5 and Class A-6 Certificates, on the one hand, and the Class A-2, Class A-3, Class A-4 and Variable Strip Certificates, on the other. Any such Realized Losses so allocated to the Class A-1, Class A-5 and Class A-6 Certificates will be allocated first to the Class A-6 Certificates until the Certificate Principal Balance thereof or the Accrued Certificate Interest thereon, as appropriate, is reduced to zero and then to the Class A-1 and Class A-5 Certificates on a pro rata basis. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to a Class A Certificate shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated, which allocation shall be deemed to have occurred at the close of business on such Distribution Date. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Class B Certificates then outstanding with the highest numerical designation Certificates, shall be made by operation of the definition of “Certificate Principal Balance” and by operation of the provisions of Section 4.014.01(b). Allocations of the interest portions of Realized Losses shall be made by operation of the definition of “Monthly Interest Distributable AmountAccrued Certificate Interest” and by operation of the provisions of Section 4.014.01(b) or 4.01(d), as applicable. Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.014.01(b) or 4.01(d), as applicable. All Realized Losses and all other losses allocated to a Class of Certificates hereunder under this Section 4.04 will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Realized Losses allocated to the Regular Certificates shall be deemed allocated to the REMIC I Regular Interests in the same amount and priority allocated to Corresponding Certificated Interests.