Common use of Collection of Payments with respect to the Mortgage Loans; Investment of Accounts Clause in Contracts

Collection of Payments with respect to the Mortgage Loans; Investment of Accounts. (a) The Securities Administrator shall establish with itself, a separate account (the “Payment Account”) titled “HSBC Bank USA, National Association, as Indenture Trustee, in trust for the registered holders of Renaissance Home Equity Loan Trust 2006-3 Home Equity Loan Asset-Backed Notes, Series 2006-3.” The Payment Account shall be an Eligible Account. The Securities Administrator shall deposit any amounts representing payments on and any collections in respect of the Mortgage Loans received by it immediately following receipt thereof, including, without limitation, all amounts withdrawn by the Servicer from the Collection Account pursuant to Section 3.03 of the Servicing Agreement for deposit to the Payment Account. Amounts on deposit in the Payment Account may be invested in Eligible Investments pursuant to Section 3.01(b). In addition, the Securities Administrator shall deposit the Initial Deposit in the Payment Account on the Closing Date. Immediately prior to each Payment Date, the Securities Administrator shall withdraw from the Payment Account and pay to the Master Servicer an amount equal to the Master Servicing Fee for such Payment Date and any unreimbursed Monthly Advances made by the Master Servicer. The Securities Administrator shall make all payments of principal of and interest on the Notes, subject to Section 3.03 as provided in Section 3.05 herein from monies on deposit in the Payment Account. (b) Consistent with any requirements of the Code, all or a portion of any Account held by the Securities Administrator shall be invested and reinvested by the Securities Administrator (in the case of the Payment Account) or as directed in writing by the Servicer (in the case of the Collection Account) or the Seller (in the case of any other Account) (the applicable Person, the “Directing Party”), in one or more Eligible Investments bearing interest or sold at a discount. If the applicable Directing Party does not provide investment directions, or if the Directing Party is the Servicer and a Servicer Event of Default shall have occurred and be continuing, the Securities Administrator shall invest all Accounts in Eligible Investments described in paragraph (vi) of the definition of Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Payment Date (except that for any such Account other than the Payment Account (i) if such Eligible Investment is an obligation of the Securities Administrator or a money market fund for which the Securities Administrator or any Affiliate is the manager or the advisor, then such Eligible Investment shall mature not later than such Payment Date and (ii) any other date may be approved by the Rating Agencies). (c) If any amounts are needed for disbursement from any Account held by the Securities Administrator and sufficient uninvested funds are not available to make such disbursement, the Securities Administrator shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Securities Administrator shall not be liable for any investment loss or other charge resulting therefrom unless the Securities Administrator’s failure to perform in accordance with this Section 3.01(c) is the cause of such loss or charge. (d) The Securities Administrator shall not in any way be held liable by reason of any insufficiency in any Account held by the Securities Administrator resulting from any investment loss on any Eligible Investment included therein (except to the extent that the Securities Administrator is the obligor and has defaulted thereon or as provided in subsection (c) of this Section 3.01). (e) The Securities Administrator shall invest and reinvest funds in the Accounts held by the Securities Administrator, to the fullest extent practicable, in such manner as the applicable Directing Party shall from time to time direct as set forth in Section 3.01(b), but only in one or more Eligible Investments. (f) So long as no Servicer Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in the Collection Account shall be for the benefit of the Servicer as Servicing Compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the Collection Account, the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefore from its own funds. (g) All net income and gain realized from investment of, and all earnings on, funds deposited in the Collection Account shall be for the benefit of the Servicer for the period from the date of deposit to the Deposit Date, as Servicing Compensation in addition to the Servicing Fee. All net income and gain realized from investment of, and all earnings on, funds deposited in the Payment Account shall be for the benefit of the Securities Administrator for the period from the Deposit Date to the Payment Date, as compensation. Any such income shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Securities Administrator, as applicable, shall deposit in the Payment Account from its own funds the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon payable to Securities Administrator immediately upon the realization of such loss, without any right to reimbursement therefor.

Collection of Payments with respect to the Mortgage Loans; Investment of Accounts. (a) The Securities Administrator shall establish with itself, a separate account (the “Payment Account”) titled “HSBC Bank USA, National Association, as Indenture Trustee, in trust for the registered holders of Renaissance Home Equity Loan Trust 20062005-3 Home Equity Loan Asset-Backed Notes, Series 20062005-3.” The Payment Account shall be an Eligible Account. The Securities Administrator shall deposit any amounts representing payments on and any collections in respect of the Mortgage Loans received by it immediately following receipt thereof, including, without limitation, all amounts withdrawn by the Servicer from the Collection Account pursuant to Section 3.03 of the Servicing Agreement for deposit to the Payment Account. Amounts on deposit in the Payment Account may be invested in Eligible Investments pursuant to Section 3.01(b). In addition, the Securities Administrator shall deposit the Initial Deposit in the Payment Account on the Closing Date. Immediately prior to each Payment Date, the Securities Administrator shall withdraw from the Payment Account and pay to the Master Servicer an amount equal to the Master Servicing Fee for such Payment Date and any unreimbursed Monthly Advances made by the Master Servicer. The Securities Administrator shall make all payments of principal of and interest on the Notes, subject to Section 3.03 as provided in Section 3.05 herein from monies on deposit in the Payment Account. (b) Consistent with any requirements of the Code, all or a portion of any Account held by the Securities Administrator shall be invested and reinvested by the Securities Administrator (in the case of the Payment Account) or as directed in writing by the Servicer (in the case of the Collection Account) or the Seller (in the case of any other Account) (the applicable Person, the “Directing Party”), in one or more Eligible Investments bearing interest or sold at a discount. If the applicable Directing Party does not provide investment directions, or if the Directing Party is the Servicer and a Servicer Event of Default shall have occurred and be continuing, the Securities Administrator shall invest all Accounts in Eligible Investments described in paragraph (vi) of the definition of Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Payment Date (except that for any such Account other than the Payment Account (i) if such Eligible Investment is an obligation of the Securities Administrator or a money market fund for which the Securities Administrator or any Affiliate is the manager or the advisor, then such Eligible Investment shall mature not later than such Payment Date and (ii) any other date may be approved by the Rating Agencies). (c) If any amounts are needed for disbursement from any Account held by the Securities Administrator and sufficient uninvested funds are not available to make such disbursement, the Securities Administrator shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Securities Administrator shall not be liable for any investment loss or other charge resulting therefrom unless the Securities Administrator’s failure to perform in accordance with this Section 3.01(c) is the cause of such loss or charge. (d) The Securities Administrator shall not in any way be held liable by reason of any insufficiency in any Account held by the Securities Administrator resulting from any investment loss on any Eligible Investment included therein (except to the extent that the Securities Administrator is the obligor and has defaulted thereon or as provided in subsection (c) of this Section 3.01). (e) The Securities Administrator shall invest and reinvest funds in the Accounts held by the Securities Administrator, to the fullest extent practicable, in such manner as the applicable Directing Party shall from time to time direct as set forth in Section 3.01(b), but only in one or more Eligible Investments. (f) So long as no Servicer Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in the Collection Account shall be for the benefit of the Servicer as Servicing Compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the Collection Account, the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefore from its own funds. (g) All net income and gain realized from investment of, and all earnings on, funds deposited in the Collection Account shall be for the benefit of the Servicer for the period from the date of deposit to the Deposit Date, as Servicing Compensation in addition to the Servicing Fee. All net income and gain realized from investment of, and all earnings on, funds deposited in the Payment Account shall be for the benefit of the Securities Administrator for the period from the Deposit Date to the Payment Date, as compensation. Any such income shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Securities Administrator, as applicable, shall deposit in the Payment Account from its own funds the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon payable to Securities Administrator immediately upon the realization of such loss, without any right to reimbursement therefor.

Collection of Payments with respect to the Mortgage Loans; Investment of Accounts. (a) The Securities Administrator shall establish with itself, a separate account (the “Payment Account”) titled “HSBC Bank USA, National Association, as Indenture Trustee, in trust for the registered holders of Renaissance Home Equity Loan Trust 20062005-3 2 Home Equity Loan Asset-Backed Notes, Series 20062005-32.” The Payment Account shall be an Eligible Account. The Securities Administrator shall deposit any amounts representing payments on and any collections in respect of the Mortgage Loans received by it immediately following receipt thereof, including, without limitation, all amounts withdrawn by the Servicer from the Collection Account pursuant to Section 3.03 of the Servicing Agreement for deposit to the Payment Account. Amounts on deposit in the Payment Account may be invested in Eligible Investments pursuant to Section 3.01(b). In addition, the Securities Administrator shall deposit the Initial Deposit in the Payment Account on the Closing Date. Immediately prior to each Payment Date, the Securities Administrator shall withdraw from the Payment Account and pay to the Master Servicer an amount equal to the Master Servicing Fee for such Payment Date and any unreimbursed Monthly Advances made by the Master Servicer. The Securities Administrator shall make all payments of principal of and interest on the Notes, subject to Section 3.03 as provided in Section 3.05 herein from monies on deposit in the Payment Account. (b) Consistent with any requirements of the Code, all or a portion of any Account held by the Securities Administrator shall be invested and reinvested by the Securities Administrator (in the case of the Payment Account) or as directed in writing by the Servicer (in the case of the Collection Account) or the Seller (in the case of any other Account) (the applicable Person, the “Directing Party”), in one or more Eligible Investments bearing interest or sold at a discount. If the applicable Directing Party does not provide investment directions, or if the Directing Party is the Servicer and a Servicer Event of Default shall have occurred and be continuing, the Securities Administrator shall invest all Accounts in Eligible Investments described in paragraph (vi) of the definition of Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Payment Date (except that for any such Account other than the Payment Account (i) if such Eligible Investment is an obligation of the Securities Administrator or a money market fund for which the Securities Administrator or any Affiliate is the manager or the advisor, then such Eligible Investment shall mature not later than such Payment Date and (ii) any other date may be approved by the Rating Agencies). (c) If any amounts are needed for disbursement from any Account held by the Securities Administrator and sufficient uninvested funds are not available to make such disbursement, the Securities Administrator shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Securities Administrator shall not be liable for any investment loss or other charge resulting therefrom unless the Securities Administrator’s failure to perform in accordance with this Section 3.01(c) is the cause of such loss or charge. (d) The Securities Administrator shall not in any way be held liable by reason of any insufficiency in any Account held by the Securities Administrator resulting from any investment loss on any Eligible Investment included therein (except to the extent that the Securities Administrator is the obligor and has defaulted thereon or as provided in subsection (c) of this Section 3.01). (e) The Securities Administrator shall invest and reinvest funds in the Accounts held by the Securities Administrator, to the fullest extent practicable, in such manner as the applicable Directing Party shall from time to time direct as set forth in Section 3.01(b), but only in one or more Eligible Investments. (f) So long as no Servicer Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in the Collection Account shall be for the benefit of the Servicer as Servicing Compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the Collection Account, the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefore from its own funds. (g) All net income and gain realized from investment of, and all earnings on, funds deposited in the Collection Account shall be for the benefit of the Servicer for the period from the date of deposit to the Deposit Date, as Servicing Compensation in addition to the Servicing Fee. All net income and gain realized from investment of, and all earnings on, funds deposited in the Payment Account shall be for the benefit of the Securities Administrator for the period from the Deposit Date to the Payment Date, as compensation. Any such income shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Securities Administrator, as applicable, shall deposit in the Payment Account from its own funds the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon payable to Securities Administrator immediately upon the realization of such loss, without any right to reimbursement therefor.

Collection of Payments with respect to the Mortgage Loans; Investment of Accounts. (a) The Securities Administrator shall establish with itself, a separate account (the “Payment Account”) titled “HSBC Bank USA, National Association, as Indenture Trustee, in trust for the registered holders of Renaissance Home Equity Loan Trust 2006-3 1 Home Equity Loan Asset-Backed Notes, Series 2006-31.” The Payment Account shall be an Eligible Account. The Securities Administrator shall deposit any amounts representing payments on and any collections in respect of the Mortgage Loans received by it immediately following receipt thereof, including, without limitation, all amounts withdrawn by the Servicer from the Collection Account pursuant to Section 3.03 of the Servicing Agreement for deposit to the Payment Account. Amounts on deposit in the Payment Account may be invested in Eligible Investments pursuant to Section 3.01(b). In addition, the Securities Administrator shall deposit the Initial Deposit in the Payment Account on the Closing Date. Immediately prior to each Payment Date, the Securities Administrator shall withdraw from the Payment Account and pay to the Master Servicer an amount equal to the Master Servicing Fee for such Payment Date and any unreimbursed Monthly Advances made by the Master Servicer. The Securities Administrator shall make all payments of principal of and interest on the Notes, subject to Section 3.03 as provided in Section 3.05 herein from monies on deposit in the Payment Account. (b) Consistent with any requirements of the Code, all or a portion of any Account held by the Securities Administrator shall be invested and reinvested by the Securities Administrator (in the case of the Payment Account) or as directed in writing by the Servicer (in the case of the Collection Account) or the Seller (in the case of any other Account) (the applicable Person, the “Directing Party”), in one or more Eligible Investments bearing interest or sold at a discount. If the applicable Directing Party does not provide investment directions, or if the Directing Party is the Servicer and a Servicer Event of Default shall have occurred and be continuing, the Securities Administrator shall invest all Accounts in Eligible Investments described in paragraph (vi) of the definition of Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Payment Date (except that for any such Account other than the Payment Account (i) if such Eligible Investment is an obligation of the Securities Administrator or a money market fund for which the Securities Administrator or any Affiliate is the manager or the advisor, then such Eligible Investment shall mature not later than such Payment Date and (ii) any other date may be approved by the Rating Agencies). (c) If any amounts are needed for disbursement from any Account held by the Securities Administrator and sufficient uninvested funds are not available to make such disbursement, the Securities Administrator shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Securities Administrator shall not be liable for any investment loss or other charge resulting therefrom unless the Securities Administrator’s failure to perform in accordance with this Section 3.01(c) is the cause of such loss or charge. (d) The Securities Administrator shall not in any way be held liable by reason of any insufficiency in any Account held by the Securities Administrator resulting from any investment loss on any Eligible Investment included therein (except to the extent that the Securities Administrator is the obligor and has defaulted thereon or as provided in subsection (c) of this Section 3.01). (e) The Securities Administrator shall invest and reinvest funds in the Accounts held by the Securities Administrator, to the fullest extent practicable, in such manner as the applicable Directing Party shall from time to time direct as set forth in Section 3.01(b), but only in one or more Eligible Investments. (f) So long as no Servicer Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in the Collection Account shall be for the benefit of the Servicer as Servicing Compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the Collection Account, the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefore from its own funds. (g) All net income and gain realized from investment of, and all earnings on, funds deposited in the Collection Account shall be for the benefit of the Servicer for the period from the date of deposit to the Deposit Date, as Servicing Compensation in addition to the Servicing Fee. All net income and gain realized from investment of, and all earnings on, funds deposited in the Payment Account shall be for the benefit of the Securities Administrator for the period from the Deposit Date to the Payment Date, as compensation. Any such income shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Securities Administrator, as applicable, shall deposit in the Payment Account from its own funds the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon payable to Securities Administrator immediately upon the realization of such loss, without any right to reimbursement therefor.

Collection of Payments with respect to the Mortgage Loans; Investment of Accounts. (a) The Securities Administrator shall establish with itself, a separate account (the “Payment Account”) titled “HSBC Bank USA, National Association, as Indenture Trustee, in trust for the registered holders of Renaissance Home Equity Loan Trust 20062007-3 2 Home Equity Loan Asset-Backed Notes, Series 20062007-32.” The Payment Account shall be an Eligible Account. The Securities Administrator shall deposit any amounts representing payments on and any collections in respect of the Mortgage Loans received by it immediately following receipt thereof, including, without limitation, all amounts withdrawn by the Servicer from the Collection Account pursuant to Section 3.03 of the Servicing Agreement for deposit to the Payment Account. Amounts on deposit in the Payment Account may be invested in Eligible Investments pursuant to Section 3.01(b). In addition, the Securities Administrator shall deposit the Initial Deposit in the Payment Account on the Closing Date. Immediately prior to each Payment Date, the Securities Administrator shall withdraw from the Payment Account and pay to the Master Servicer an amount equal to the Master Servicing Fee for such Payment Date and any unreimbursed Monthly Advances made by the Master Servicer. The Securities Administrator shall make all payments of principal of and interest on the Notes, subject to Section 3.03 as provided in Section 3.05 herein from monies on deposit in the Payment Account. (b) Consistent with any requirements of the Code, all or a portion of any Account held by the Securities Administrator shall be invested and reinvested by the Securities Administrator (in the case of the Payment Account) or as directed in writing by the Servicer (in the case of the Collection Account) or the Seller (in the case of any other Account) (the applicable Person, the “Directing Party”), in one or more Eligible Investments bearing interest or sold at a discount. If the applicable Directing Party does not provide investment directions, or if the Directing Party is the Servicer and a Servicer Event of Default shall have occurred and be continuing, the Securities Administrator shall invest all Accounts in Eligible Investments described in paragraph (vi) of the definition of Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Payment Date (except that for any such Account other than the Payment Account (i) if such Eligible Investment is an obligation of the Securities Administrator or a money market fund for which the Securities Administrator or any Affiliate is the manager or the advisor, then such Eligible Investment shall mature not later than such Payment Date and (ii) any other date may be approved by the Rating Agencies). (c) If any amounts are needed for disbursement from any Account held by the Securities Administrator and sufficient uninvested funds are not available to make such disbursement, the Securities Administrator shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Securities Administrator shall not be liable for any investment loss or other charge resulting therefrom unless the Securities Administrator’s failure to perform in accordance with this Section 3.01(c) is the cause of such loss or charge. (d) The Except as set forth in Section 3.01(g), the Securities Administrator shall not in any way be held liable by reason of any insufficiency in any Account held by the Securities Administrator resulting from any investment loss on any Eligible Investment included therein (except to the extent that the Securities Administrator is the obligor and has defaulted thereon or as provided in subsection (c) of this Section 3.01). (e) The Securities Administrator shall invest and reinvest funds in the Accounts held by the Securities Administrator, to the fullest extent practicable, in such manner as the applicable Directing Party shall from time to time direct as set forth in Section 3.01(b), but only in one or more Eligible Investments. (f) So long as no Servicer Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in the Collection Account shall be for the benefit of the Servicer as Servicing Compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the Collection Account, the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefore from its own funds. (g) All net income and gain realized from investment of, and all earnings on, funds deposited in the Collection Account shall be for the benefit of the Servicer for the period from the date of deposit to the Deposit Date, as Servicing Compensation in addition to the Servicing Fee. All net income and gain realized from investment of, and all earnings on, funds deposited in the Payment Account shall be for the benefit of the Securities Administrator for the period from the Deposit Date to the Payment Date, as compensation. Any such income shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Securities Administrator, as applicable, Administrator shall deposit in the Payment Account from its own funds the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon payable to Securities Administrator immediately upon the realization of such loss, without any right to reimbursement therefor.

Collection of Payments with respect to the Mortgage Loans; Investment of Accounts. (a) The Securities Administrator shall establish with itself, a separate account (the “Payment Account”) titled “HSBC Bank USA, National Association, as Indenture Trustee, in trust for the registered holders of Renaissance Home Equity Loan Trust 20062005-3 4 Home Equity Loan Asset-Backed Notes, Series 20062005-34.” The Payment Account shall be an Eligible Account. The Securities Administrator shall deposit any amounts representing payments on and any collections in respect of the Mortgage Loans received by it immediately following receipt thereof, including, without limitation, all amounts withdrawn by the Servicer from the Collection Account pursuant to Section 3.03 of the Servicing Agreement for deposit to the Payment Account. Amounts on deposit in the Payment Account may be invested in Eligible Investments pursuant to Section 3.01(b). In addition, the Securities Administrator shall deposit the Initial Deposit in the Payment Account on the Closing Date. Immediately prior to each Payment Date, the Securities Administrator shall withdraw from the Payment Account and pay to the Master Servicer an amount equal to the Master Servicing Fee for such Payment Date and any unreimbursed Monthly Advances made by the Master Servicer. The Securities Administrator shall make all payments of principal of and interest on the Notes, subject to Section 3.03 as provided in Section 3.05 herein from monies on deposit in the Payment Account. (b) Consistent with any requirements of the Code, all or a portion of any Account held by the Securities Administrator shall be invested and reinvested by the Securities Administrator (in the case of the Payment Account) or as directed in writing by the Servicer (in the case of the Collection Account) or the Seller (in the case of any other Account) (the applicable Person, the “Directing Party”), in one or more Eligible Investments bearing interest or sold at a discount. If the applicable Directing Party does not provide investment directions, or if the Directing Party is the Servicer and a Servicer Event of Default shall have occurred and be continuing, the Securities Administrator shall invest all Accounts in Eligible Investments described in paragraph (vi) of the definition of Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Payment Date (except that for any such Account other than the Payment Account (i) if such Eligible Investment is an obligation of the Securities Administrator or a money market fund for which the Securities Administrator or any Affiliate is the manager or the advisor, then such Eligible Investment shall mature not later than such Payment Date and (ii) any other date may be approved by the Rating Agencies). (c) If any amounts are needed for disbursement from any Account held by the Securities Administrator and sufficient uninvested funds are not available to make such disbursement, the Securities Administrator shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Securities Administrator shall not be liable for any investment loss or other charge resulting therefrom unless the Securities Administrator’s failure to perform in accordance with this Section 3.01(c) is the cause of such loss or charge. (d) The Securities Administrator shall not in any way be held liable by reason of any insufficiency in any Account held by the Securities Administrator resulting from any investment loss on any Eligible Investment included therein (except to the extent that the Securities Administrator is the obligor and has defaulted thereon or as provided in subsection (c) of this Section 3.01). (e) The Securities Administrator shall invest and reinvest funds in the Accounts held by the Securities Administrator, to the fullest extent practicable, in such manner as the applicable Directing Party shall from time to time direct as set forth in Section 3.01(b), but only in one or more Eligible Investments. (f) So long as no Servicer Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in the Collection Account shall be for the benefit of the Servicer as Servicing Compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the Collection Account, the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefore from its own funds. (g) All net income and gain realized from investment of, and all earnings on, funds deposited in the Collection Account shall be for the benefit of the Servicer for the period from the date of deposit to the Deposit Date, as Servicing Compensation in addition to the Servicing Fee. All net income and gain realized from investment of, and all earnings on, funds deposited in the Payment Account shall be for the benefit of the Securities Administrator for the period from the Deposit Date to the Payment Date, as compensation. Any such income shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Securities Administrator, as applicable, shall deposit in the Payment Account from its own funds the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon payable to Securities Administrator immediately upon the realization of such loss, without any right to reimbursement therefor.

Collection of Payments with respect to the Mortgage Loans; Investment of Accounts. (a) The Securities Administrator shall establish with itself, a separate account (the “"Payment Account”") titled “"HSBC Bank USA, National Association, as Indenture Trustee, in trust for the registered holders of Renaissance Home Equity Loan Trust 20062005-3 1 Home Equity Loan Asset-Backed Notes, Series 2006-3.” 2005- 1. The Payment Account shall be an Eligible Account. The Securities Administrator shall deposit any amounts representing payments on and any collections in respect of the Mortgage Loans received by it immediately following receipt thereof, including, without limitation, all amounts withdrawn by the Servicer from the Collection Account pursuant to Section 3.03 of the Servicing Agreement for deposit to the Payment Account. Amounts on deposit in the Payment Account may be invested in Eligible Investments pursuant to Section 3.01(b). In addition, the Securities Administrator shall deposit the Initial Deposit in the Payment Account on the Closing Date. Immediately prior to each Payment Date, the Securities Administrator shall withdraw from the Payment Account and pay to the Master Servicer an amount equal to the Master Servicing Fee for such Payment Date and any unreimbursed Monthly Advances made by the Master Servicer. The Securities Administrator shall make all payments of principal of and interest on the Notes, subject to Section 3.03 as provided in Section 3.05 herein from monies on deposit in the Payment Account. (b) Consistent with any requirements of the Code, all or a portion of any Account held by the Securities Administrator shall be invested and reinvested by the Securities Administrator (in the case of the Payment Account) or as directed in writing by the Servicer (in the case of the Collection Account) or the Seller (in the case of any other Account) (the applicable Person, the “"Directing Party”"), in one or more Eligible Investments bearing interest or sold at a discount. If the applicable Directing Party does not provide investment directions, or if the Directing Party is the Servicer and a Servicer Event of Default shall have occurred and be continuing, the Securities Administrator shall invest all Accounts in Eligible Investments described in paragraph (vi) of the definition of Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Payment Date (except that for any such Account other than the Payment Account (i) if such Eligible Investment is an obligation of the Securities Administrator or a money market fund for which the Securities Administrator or any Affiliate is the manager or the advisor, then such Eligible Investment shall mature not later than such Payment Date and (ii) any other date may be approved by the Rating Agencies). (c) If any amounts are needed for disbursement from any Account held by the Securities Administrator and sufficient uninvested funds are not available to make such disbursement, the Securities Administrator shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Securities Administrator shall not be liable for any investment loss or other charge resulting therefrom unless the Securities Administrator’s 's failure to perform in accordance with this Section 3.01(c) is the cause of such loss or charge. (d) The Securities Administrator shall not in any way be held liable by reason of any insufficiency in any Account held by the Securities Administrator resulting from any investment loss on any Eligible Investment included therein (except to the extent that the Securities Administrator is the obligor and has defaulted thereon or as provided in subsection (c) of this Section 3.01). (e) The Securities Administrator shall invest and reinvest funds in the Accounts held by the Securities Administrator, to the fullest extent practicable, in such manner as the applicable Directing Party shall from time to time direct as set forth in Section 3.01(b), but only in one or more Eligible Investments. (f) So long as no Servicer Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in the Collection Account shall be for the benefit of the Servicer as Servicing Compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the Collection Account, the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefore from its own funds. (g) All net income and gain realized from investment of, and all earnings on, funds deposited in the Collection Account shall be for the benefit of the Servicer for the period from the date of deposit to the Deposit Date, as Servicing Compensation in addition to the Servicing Fee. All net income and gain realized from investment of, and all earnings on, funds deposited in the Payment Account shall be for the benefit of the Securities Administrator for the period from the Deposit Date to the Payment Date, as compensation. Any such income shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Securities Administrator, as applicable, shall deposit in the Payment Account from its own funds the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon payable to Securities Administrator immediately upon the realization of such loss, without any right to reimbursement therefor.

Collection of Payments with respect to the Mortgage Loans; Investment of Accounts. (a) The Securities Administrator shall establish with itself, a separate account (the “Payment Account”) titled “HSBC Bank USA, National Association, as Indenture Trustee, in trust for the registered holders of Renaissance Home Equity Loan Trust 2006-3 2 Home Equity Loan Asset-Backed Notes, Series 2006-32.” The Payment Account shall be an Eligible Account. The Securities Administrator shall deposit any amounts representing payments on and any collections in respect of the Mortgage Loans received by it immediately following receipt thereof, including, without limitation, all amounts withdrawn by the Servicer from the Collection Account pursuant to Section 3.03 of the Servicing Agreement for deposit to the Payment Account. Amounts on deposit in the Payment Account may be invested in Eligible Investments pursuant to Section 3.01(b). In addition, the Securities Administrator shall deposit the Initial Deposit in the Payment Account on the Closing Date. Immediately prior to each Payment Date, the Securities Administrator shall withdraw from the Payment Account and pay to the Master Servicer an amount equal to the Master Servicing Fee for such Payment Date and any unreimbursed Monthly Advances made by the Master Servicer. The Securities Administrator shall make all payments of principal of and interest on the Notes, subject to Section 3.03 as provided in Section 3.05 herein from monies on deposit in the Payment Account. (b) Consistent with any requirements of the Code, all or a portion of any Account held by the Securities Administrator shall be invested and reinvested by the Securities Administrator (in the case of the Payment Account) or as directed in writing by the Servicer (in the case of the Collection Account) or the Seller (in the case of any other Account) (the applicable Person, the “Directing Party”), in one or more Eligible Investments bearing interest or sold at a discount. If the applicable Directing Party does not provide investment directions, or if the Directing Party is the Servicer and a Servicer Event of Default shall have occurred and be continuing, the Securities Administrator shall invest all Accounts in Eligible Investments described in paragraph (vi) of the definition of Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Payment Date (except that for any such Account other than the Payment Account (i) if such Eligible Investment is an obligation of the Securities Administrator or a money market fund for which the Securities Administrator or any Affiliate is the manager or the advisor, then such Eligible Investment shall mature not later than such Payment Date and (ii) any other date may be approved by the Rating Agencies). (c) If any amounts are needed for disbursement from any Account held by the Securities Administrator and sufficient uninvested funds are not available to make such disbursement, the Securities Administrator shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Securities Administrator shall not be liable for any investment loss or other charge resulting therefrom unless the Securities Administrator’s failure to perform in accordance with this Section 3.01(c) is the cause of such loss or charge. (d) The Securities Administrator shall not in any way be held liable by reason of any insufficiency in any Account held by the Securities Administrator resulting from any investment loss on any Eligible Investment included therein (except to the extent that the Securities Administrator is the obligor and has defaulted thereon or as provided in subsection (c) of this Section 3.01). (e) The Securities Administrator shall invest and reinvest funds in the Accounts held by the Securities Administrator, to the fullest extent practicable, in such manner as the applicable Directing Party shall from time to time direct as set forth in Section 3.01(b), but only in one or more Eligible Investments. (f) So long as no Servicer Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in the Collection Account shall be for the benefit of the Servicer as Servicing Compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the Collection Account, the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefore from its own funds. (g) All net income and gain realized from investment of, and all earnings on, funds deposited in the Collection Account shall be for the benefit of the Servicer for the period from the date of deposit to the Deposit Date, as Servicing Compensation in addition to the Servicing Fee. All net income and gain realized from investment of, and all earnings on, funds deposited in the Payment Account shall be for the benefit of the Securities Administrator for the period from the Deposit Date to the Payment Date, as compensation. Any such income shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Securities Administrator, as applicable, shall deposit in the Payment Account from its own funds the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon payable to Securities Administrator immediately upon the realization of such loss, without any right to reimbursement therefor.

Collection of Payments with respect to the Mortgage Loans; Investment of Accounts. (a) The Securities Administrator shall establish with itself, a separate account (the “Payment Account”) titled “HSBC Bank USA, National Association, as Indenture Trustee, in trust for the registered holders of Renaissance Home Equity Loan Trust 20062007-3 1 Home Equity Loan Asset-Backed Notes, Series 20062007-31.” The Payment Account shall be an Eligible Account. The Securities Administrator shall deposit any amounts representing payments on and any collections in respect of the Mortgage Loans received by it immediately following receipt thereof, including, without limitation, all amounts withdrawn by the Servicer from the Collection Account pursuant to Section 3.03 of the Servicing Agreement for deposit to the Payment Account. Amounts on deposit in the Payment Account may be invested in Eligible Investments pursuant to Section 3.01(b). In addition, the Securities Administrator shall deposit the Initial Deposit in the Payment Account on the Closing Date. Immediately prior to each Payment Date, the Securities Administrator shall withdraw from the Payment Account and pay to the Master Servicer an amount equal to the Master Servicing Fee for such Payment Date and any unreimbursed Monthly Advances made by the Master Servicer. The Securities Administrator shall make all payments of principal of and interest on the Notes, subject to Section 3.03 as provided in Section 3.05 herein from monies on deposit in the Payment Account. (b) Consistent with any requirements of the Code, all or a portion of any Account held by the Securities Administrator shall be invested and reinvested by the Securities Administrator (in the case of the Payment Account) or as directed in writing by the Servicer (in the case of the Collection Account) or the Seller (in the case of any other Account) (the applicable Person, the “Directing Party”), in one or more Eligible Investments bearing interest or sold at a discount. If the applicable Directing Party does not provide investment directions, or if the Directing Party is the Servicer and a Servicer Event of Default shall have occurred and be continuing, the Securities Administrator shall invest all Accounts in Eligible Investments described in paragraph (vi) of the definition of Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Payment Date (except that for any such Account other than the Payment Account (i) if such Eligible Investment is an obligation of the Securities Administrator or a money market fund for which the Securities Administrator or any Affiliate is the manager or the advisor, then such Eligible Investment shall mature not later than such Payment Date and (ii) any other date may be approved by the Rating Agencies). (c) If any amounts are needed for disbursement from any Account held by the Securities Administrator and sufficient uninvested funds are not available to make such disbursement, the Securities Administrator shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Securities Administrator shall not be liable for any investment loss or other charge resulting therefrom unless the Securities Administrator’s failure to perform in accordance with this Section 3.01(c) is the cause of such loss or charge. (d) The Except as set forth in Section 3.01(g), the Securities Administrator shall not in any way be held liable by reason of any insufficiency in any Account held by the Securities Administrator resulting from any investment loss on any Eligible Investment included therein (except to the extent that the Securities Administrator is the obligor and has defaulted thereon or as provided in subsection (c) of this Section 3.01). (e) The Securities Administrator shall invest and reinvest funds in the Accounts held by the Securities Administrator, to the fullest extent practicable, in such manner as the applicable Directing Party shall from time to time direct as set forth in Section 3.01(b), but only in one or more Eligible Investments. (f) So long as no Servicer Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in the Collection Account shall be for the benefit of the Servicer as Servicing Compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the Collection Account, the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefore from its own funds. (g) All net income and gain realized from investment of, and all earnings on, funds deposited in the Collection Account shall be for the benefit of the Servicer for the period from the date of deposit to the Deposit Date, as Servicing Compensation in addition to the Servicing Fee. All net income and gain realized from investment of, and all earnings on, funds deposited in the Payment Account shall be for the benefit of the Securities Administrator for the period from the Deposit Date to the Payment Date, as compensation. Any such income shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Securities Administrator, as applicable, Administrator shall deposit in the Payment Account from its own funds the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon payable to Securities Administrator immediately upon the realization of such loss, without any right to reimbursement therefor.

Collection of Payments with respect to the Mortgage Loans; Investment of Accounts. (a) The Securities Administrator shall establish with itself, a separate account (the “Payment Account”) titled “HSBC Bank USA, National Association, as Indenture Trustee, in trust for the registered holders of Renaissance Home Equity Loan Trust 2006-3 4 Home Equity Loan Asset-Backed Notes, Series 2006-34.” The Payment Account shall be an Eligible Account. The Securities Administrator shall deposit any amounts representing payments on and any collections in respect of the Mortgage Loans received by it immediately following receipt thereof, including, without limitation, all amounts withdrawn by the Servicer from the Collection Account pursuant to Section 3.03 of the Servicing Agreement for deposit to the Payment Account. Amounts on deposit in the Payment Account may be invested in Eligible Investments pursuant to Section 3.01(b). In addition, the Securities Administrator shall deposit the Initial Deposit in the Payment Account on the Closing Date. Immediately prior to each Payment Date, the Securities Administrator shall withdraw from the Payment Account and pay to the Master Servicer an amount equal to the Master Servicing Fee for such Payment Date and any unreimbursed Monthly Advances made by the Master Servicer. The Securities Administrator shall make all payments of principal of and interest on the Notes, subject to Section 3.03 as provided in Section 3.05 herein from monies on deposit in the Payment Account. (b) Consistent with any requirements of the Code, all or a portion of any Account held by the Securities Administrator shall be invested and reinvested by the Securities Administrator (in the case of the Payment Account) or as directed in writing by the Servicer (in the case of the Collection Account) or the Seller (in the case of any other Account) (the applicable Person, the “Directing Party”), in one or more Eligible Investments bearing interest or sold at a discount. If the applicable Directing Party does not provide investment directions, or if the Directing Party is the Servicer and a Servicer Event of Default shall have occurred and be continuing, the Securities Administrator shall invest all Accounts in Eligible Investments described in paragraph (vi) of the definition of Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Payment Date (except that for any such Account other than the Payment Account (i) if such Eligible Investment is an obligation of the Securities Administrator or a money market fund for which the Securities Administrator or any Affiliate is the manager or the advisor, then such Eligible Investment shall mature not later than such Payment Date and (ii) any other date may be approved by the Rating Agencies). (c) If any amounts are needed for disbursement from any Account held by the Securities Administrator and sufficient uninvested funds are not available to make such disbursement, the Securities Administrator shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Securities Administrator shall not be liable for any investment loss or other charge resulting therefrom unless the Securities Administrator’s failure to perform in accordance with this Section 3.01(c) is the cause of such loss or charge. (d) The Except as set forth in Section 3.01(g), the Securities Administrator shall not in any way be held liable by reason of any insufficiency in any Account held by the Securities Administrator resulting from any investment loss on any Eligible Investment included therein (except to the extent that the Securities Administrator is the obligor and has defaulted thereon or as provided in subsection (c) of this Section 3.01). (e) The Securities Administrator shall invest and reinvest funds in the Accounts held by the Securities Administrator, to the fullest extent practicable, in such manner as the applicable Directing Party shall from time to time direct as set forth in Section 3.01(b), but only in one or more Eligible Investments. (f) So long as no Servicer Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in the Collection Account shall be for the benefit of the Servicer as Servicing Compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the Collection Account, the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefore from its own funds. (g) All net income and gain realized from investment of, and all earnings on, funds deposited in the Collection Account shall be for the benefit of the Servicer for the period from the date of deposit to the Deposit Date, as Servicing Compensation in addition to the Servicing Fee. All net income and gain realized from investment of, and all earnings on, funds deposited in the Payment Account shall be for the benefit of the Securities Administrator for the period from the Deposit Date to the Payment Date, as compensation. Any such income shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Securities Administrator, as applicable, Administrator shall deposit in the Payment Account from its own funds the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon payable to Securities Administrator immediately upon the realization of such loss, without any right to reimbursement therefor.

Collection of Payments with respect to the Mortgage Loans; Investment of Accounts. (a) The Securities Administrator shall establish with itself, a separate account (the “"Payment Account”") titled “HSBC Bank USA, National Association, "[o] as Indenture Trustee, in trust for the registered holders of Renaissance Home Equity Loan Trust 2006-3 [o] Home Equity Loan Asset-Backed Notes, Series 2006-3[o].” " The Payment Account shall be an Eligible Account. The Securities Administrator shall deposit any amounts representing payments on and any collections in respect of the Mortgage Loans received by it immediately following receipt thereof, including, without limitation, all amounts withdrawn by the Servicer from the Collection Account pursuant to Section 3.03 of the Servicing Agreement for deposit to the Payment Account. Amounts on deposit in the Payment Account may be invested in Eligible Investments pursuant to Section 3.01(b). In addition, the Securities Administrator shall deposit the Initial Deposit in the Payment Account on the Closing Date. Immediately prior to each Payment Date, the Securities Administrator shall withdraw from the Payment Account and pay to the Master Servicer an amount equal to the Master Servicing Fee for such Payment Date and any unreimbursed Monthly Advances made by the Master Servicer. The Securities Administrator shall make all payments of principal of and interest on the Notes, subject to Section 3.03 as provided in Section 3.05 herein from monies on deposit in the Payment Account. (b) Consistent with any requirements of the Code, all or a portion of any Account held by the Securities Administrator shall be invested and reinvested by the Securities Administrator (in the case of the Payment Account) or as directed in writing by the Servicer (in the case of the Collection Account) or the Seller (in the case of any other Account) (the applicable Person, the “"Directing Party”"), in one or more Eligible Investments bearing interest or sold at a discount. If the applicable Directing Party does not provide investment directions, or if the Directing Party is the Servicer and a Servicer Event of Default shall have occurred and be continuing, the Securities Administrator shall invest all Accounts in Eligible Investments described in paragraph (vi) of the definition of Eligible Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Payment Date (except that for any such Account other than the Payment Account (i) if such Eligible Investment is an obligation of the Securities Administrator or a money market fund for which the Securities Administrator or any Affiliate is the manager or the advisor, then such Eligible Investment shall mature not later than such Payment Date and (ii) any other date may be approved by the Rating Agencies). (c) If any amounts are needed for disbursement from any Account held by the Securities Administrator and sufficient uninvested funds are not available to make such disbursement, the Securities Administrator shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Securities Administrator shall not be liable for any investment loss or other charge resulting therefrom unless the Securities Administrator’s 's failure to perform in accordance with this Section 3.01(c) is the cause of such loss or charge. (d) The Securities Administrator shall not in any way be held liable by reason of any insufficiency in any Account held by the Securities Administrator resulting from any investment loss on any Eligible Investment included therein (except to the extent that the Securities Administrator is the obligor and has defaulted thereon or as provided in subsection (c) of this Section 3.01). (e) The Securities Administrator shall invest and reinvest funds in the Accounts held by the Securities Administrator, to the fullest extent practicable, in such manner as the applicable Directing Party shall from time to time direct as set forth in Section 3.01(b), but only in one or more Eligible Investments. (f) So long as no Servicer Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in the Collection Account shall be for the benefit of the Servicer as Servicing Compensation (in addition to the Servicing Fee), and shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Servicer shall deposit in the Collection Account, the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefore from its own funds. (g) All net income and gain realized from investment of, and all earnings on, funds deposited in the Collection Account shall be for the benefit of the Servicer for the period from the date of deposit to the Deposit Date, as Servicing Compensation in addition to the Servicing Fee. All net income and gain realized from investment of, and all earnings on, funds deposited in the Payment Account shall be for the benefit of the Securities Administrator for the period from the Deposit Date to the Payment Date, as compensation. Any such income shall be subject to withdrawal on or before the first Business Day of the month following the month in which such income or gain is received. The Securities Administrator, as applicable, shall deposit in the Payment Account from its own funds the amount of any loss incurred in respect of any Eligible Investment held therein which is in excess of the income and gain thereon payable to Securities Administrator immediately upon the realization of such loss, without any right to reimbursement therefor.