Common use of Loan Limits Clause in Contracts

Loan Limits. (i) No first lien Mortgage Loan has an original principal balance that exceeds the applicable Fxxxxx Mae loan limit (as in effect on the Closing Date); (ii) With respect to any subordinate lien Mortgage Loan, (A) has an original principal balance that exceeds one-half of the one-unit limitation for first lien mortgage loans, i.e., $208,500 (in Alaska, Guam, Hawaii or Virgin Islands: $312,750), without regard to the number of units; and (B) the original principal balance of the related first lien mortgage loan plus the original principal balance of subordinate lien Mortgage Loan does not exceed the applicable Fxxxxx Mxx Mac loan limit for first lien mortgage loans for that property type (as in effect on the Closing Date). UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS AN INTEREST IN A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), AND CERTAIN OTHER ASSETS. NO TRANSFER OF THIS CERTIFICATE SHALL BE REGISTERED UNLESS THE PROSPECTIVE TRANSFEREE PROVIDES THE TRUST ADMINISTRATOR WITH (A) A REPRESENTATION TO THE EFFECT THAT SUCH TRANSFEREE IS NEITHER AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN OR CHURCH PLAN SUBJECT TO SIMILAR LAW (COLLECTIVELY, A “PLAN”), NOR A PERSON ACTING FOR, ON BEHALF OF OR WITH THE ASSETS OF, ANY SUCH PLAN, OR (B) AN OPINION OF COUNSEL SATISFACTORY TO THE TRUST ADMINISTRATOR, AND UPON WHICH THE DEPOSITOR, THE TRUSTEE, THE TRUST ADMINISTRATOR, THE SWAP ADMINISTRATOR, THE MASTER SERVICER, THE NIM INSURER, IF ANY, AND THE SERVICER SHALL BE ENTITLED TO RELY, TO THE EFFECT THAT THE PURCHASE OR HOLDING OF SUCH CERTIFICATE BY THE PROSPECTIVE TRANSFEREE (I) IS PERMISSIBLE UNDER APPLICABLE LAW, (II) WILL NOT RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER TITLE I OF ERISA OR SECTION 4975 OF THE CODE OR A VIOLATION OF SIMILAR LAW AND (III) WILL NOT SUBJECT THE DEPOSITOR, THE TRUSTEE, THE SWAP ADMINISTRATOR, THE TRUST ADMINISTRATOR, THE MASTER SERVICER, THE NIM INSURER, IF ANY, OR THE SERVICER TO ANY OBLIGATION OR LIABILITY (INCLUDING OBLIGATIONS OR LIABILITIES UNDER ERISA OR SECTION 4975 OF THE CODE) IN ADDITION TO THOSE UNDERTAKEN BY SUCH ENTITIES IN THE POOLING AND SERVICING AGREEMENT, WHICH OPINION OF COUNSEL SHALL NOT BE AN EXPENSE OF THE DEPOSITOR, THE TRUSTEE, THE TRUST ADMINISTRATOR, THE MASTER SERVICER, THE SERVICER, THE SWAP ADMINISTRATOR, THE NIM INSURER, IF ANY, OR THE TRUST FUND. A TRANSFEREE OF A BOOK-ENTRY CERTIFICATE SHALL BE DEEMED TO HAVE MADE A REPRESENTATION AS REQUIRED HEREIN. Certificate No. : Cut-off Date : November 1, 2006 First Distribution Date : The Distribution Date in December 2006 Initial Certificate Balance of this Certificate (“Denomination”) : Initial Certificate Balances of all Certificates of this Class : Class Principal Amount 1-A1 $ 602,413,000 2-A1 $ 300,378,000 2-A2 $ 131,716,000 2-A3 $ 146,221,000 2-A4 $ 48,424,000 M1 $ 74,132,000 M2 $ 71,741,000 M3 $ 26,305,000 M4 $ 30,290,000 M5 $ 27,102,000 M6 $ 19,131,000 M7 $ 17,537,000 M8 $ 14,438,000 M9 $ 19,131,000 M10 $ 23,914,000 CUSIP : Class CUSIP No. 1-A1 35729V AA 5 2-A1 35729V AX0 0-X0 35729V AC1 2-A3 35729V AD9 2-A4 35729V AX0 X0 35729V AF4 M2 35729V AG2 M3 35729V AH0 M4 35729V AX0 X0 35729V AX0 X0 35729V AX0 X0 35729V AX0 X0 35729V AN7 M9 35729V AP2 M10 35729V AQ0 ISIN : 1-A1 US35729VAA52 2-A1 US35729VAB36 2-A2 US35729VAC19 2-A3 US35729VAD91 2-A4 US35729VAE74 M1 US35729VAF40 M2 US35729VAG23 M3 US35729VAH06 M4 US35729VAJ61 M5 US35729VAK35 M6 US35729VAL18 M7 US35729VAM90 M8 US35729VAN73 M9 US35729VAP22 M00 XX00000XXX00 evidencing a percentage interest in the distributions allocable to the Certificates of the above-referenced Class. Principal in respect of this Certificate is distributable monthly as set forth herein. Accordingly, the Certificate Balance at any time may be less than the Certificate Balance as set forth herein. This Certificate does not evidence an obligation of, or an interest in, and is not guaranteed by the Depositor, the Servicer, the Trust Administrator, the Master Servicer or the Trustee referred to below or any of their respective affiliates. Neither this Certificate nor the Mortgage Loans are guaranteed or insured by any governmental agency or instrumentality. This certifies that CEDE & CO. is the registered owner of the Percentage Interest evidenced by this Certificate (obtained by dividing the denomination of this Certificate by the aggregate of the denominations of all Certificates of the Class to which this Certificate belongs) in certain monthly distributions pursuant to a Pooling and Servicing Agreement, dated as of November 1, 2006 (the “Agreement”), among Fremont Mortgage Securities Corporation, as depositor (the “Depositor”), Fremont Investment & Loan, as sponsor, originator and servicer (“Fremont”), Wxxxx Fargo Bank, N.A., as master servicer, trust administrator (the “Trust Administrator”) and swap administrator, and HSBC Bank USA, National Association, as trustee (the “Trustee”). To the extent not defined herein, the capitalized terms used herein have the meanings assigned in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. No transfer of a Certificate of this Class shall be made, except as provided in section 5.02 of the Agreement. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose unless manually countersigned by an authorized signatory of the Trust Administrator.

Loan Limits. (i) No first lien Mortgage Loan has an original principal balance that exceeds the applicable Fxxxxx Mae Fxxxxxx Mac loan limit (as in effect on the Closing Date); (ii) With respect to any subordinate lien Mortgage Loan, (A) such lien is on a one- to four-family residence that is the principal residence of the borrower; (B) has an original principal balance that exceeds one-half of the one-unit limitation for first lien mortgage loans, i.e., $208,500 (in Alaska, Guam, Hawaii or Virgin Islands: $312,750), without regard to the number of units; and (BC) the original principal balance of the related first lien mortgage loan plus the original principal balance of subordinate lien Mortgage Loan does not exceed the applicable Fxxxxx Mxx Fxxxxxx Mac loan limit for first lien mortgage loans for that property type (as in effect on the Closing Date). UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS AN INTEREST IN A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), AND CERTAIN OTHER ASSETS. NO TRANSFER EACH OWNER OF AN THIS CERTIFICATE OR ANY INTEREST THEREIN WILL (I) BE DEEMED TO HAVE REPRESENTED, BY VIRTUE OF ITS ACQUISITION OR HOLDING OF THIS CERTIFICATE SHALL BE REGISTERED UNLESS THE PROSPECTIVE TRANSFEREE PROVIDES THE TRUST ADMINISTRATOR WITH (A) A REPRESENTATION TO THE EFFECT OR INTEREST THEREIN, THAT SUCH TRANSFEREE IT IS NEITHER NOT AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN OR CHURCH PLAN SUBJECT TO SIMILAR LAW (COLLECTIVELY, A “PLAN”), NOR A PERSON ACTING FOR, ON BEHALF OF OR WITH THE ASSETS OF, ANY SUCH PLAN, PLAN OR (BII) PROVIDE THE TRUST ADMINISTRATOR WITH AN OPINION OF COUNSEL SATISFACTORY TO THE TRUST ADMINISTRATOR, AND UPON ON WHICH THE DEPOSITOR, THE TRUSTEE, THE TRUST ADMINISTRATOR, THE SWAP ADMINISTRATOR, THE MASTER SERVICER, THE NIM INSURER, IF ANY, SERVICER AND THE MASTER SERVICER SHALL BE ENTITLED TO MAY RELY, TO THE EFFECT THAT THE PURCHASE OR HOLDING OF SUCH THE OFFERED CERTIFICATE BY THE PROSPECTIVE TRANSFEREE (IA) IS PERMISSIBLE UNDER APPLICABLE LAW, (IIB) WILL NOT CONSTITUTE OR RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER TITLE I OF ERISA OR ERISA, SECTION 4975 OF THE CODE OR A VIOLATION OF SIMILAR LAW AND (IIIC) WILL NOT SUBJECT THE DEPOSITOR, THE TRUSTEE, THE TRUST ADMINISTRATOR, THE SWAP ADMINISTRATOR, THE TRUST ADMINISTRATOR, SERVICER OR THE MASTER SERVICER, THE NIM INSURER, IF ANY, OR THE SERVICER TO ANY OBLIGATION OR LIABILITY (INCLUDING OBLIGATIONS OR LIABILITIES UNDER ERISA OR SECTION 4975 OF THE CODE) IN ADDITION TO THOSE UNDERTAKEN BY SUCH ENTITIES IN THE POOLING AND SERVICING AGREEMENT, WHICH OPINION OF COUNSEL SHALL NOT BE AN EXPENSE OF THE DEPOSITOR, THE TRUSTEE, THE TRUST ADMINISTRATOR, THE SWAP ADMINISTRATOR, THE SERVICER AND THE MASTER SERVICER. IF THIS CERTIFICATE OR ANY INTEREST THEREIN IS ACQUIRED OR HELD IN VIOLATION OF THE CONDITIONS DESCRIBED IN THE ABOVE, THE SERVICERNEXT PRECEDING PERMITTED OWNER WILL BE TREATED AS THE OWNER OF THAT CERTIFICATE, RETROACTIVE TO THE DATE OF TRANSFER TO THE PURPORTED OWNER. ANY PURPORTED OWNER WHOSE ACQUISITION OR HOLDING OF ANY SUCH CERTIFICATE OR INTEREST THEREIN WAS EFFECTED IN VIOLATION OF THE CONDITIONS DESCRIBED ABOVE WILL INDEMNIFY AND HOLD HARMLESS THE DEPOSITOR, THE TRUSTEE, THE TRUST ADMINISTRATOR, THE SWAP ADMINISTRATOR, THE NIM INSURERSERVICER, IF ANY, OR THE MASTER SERVICER AND THE TRUST FUND. FROM AND AGAINST ANY AND ALL LIABILITIES, CLAIMS, COSTS OR EXPENSES INCURRED BY THOSE PARTIES AS A TRANSFEREE RESULT OF A BOOK-ENTRY CERTIFICATE SHALL BE DEEMED TO HAVE MADE A REPRESENTATION AS REQUIRED HEREINTHAT ACQUISITION OR HOLDING. Certificate No. : Cut-off Date : November August 1, 2006 First Distribution Date : The Distribution Date in December September, 2006 Initial Certificate Balance of this Certificate (“Denomination”) : Initial Certificate Balances of all Certificates of this Class : Class Principal Amount 1-A1 1- A $ 602,413,000 [__________] 2-A1 A-1 $ 300,378,000 [__________] 2-A2 A-2 $ 131,716,000 [__________] 2-A3 A-3 $ 146,221,000 [__________] 2-A4 A-4 $ 48,424,000 [__________] M-1 $ [__________] M-2 $ [__________] M-3 $ [__________] M-4 $ [__________] M-5 $ [__________] M-6 $ [__________] M-7 $ [__________] M-8 $ [__________] M-9 $ [__________] M-10 $ [__________] M-11 $ [__________] SL-A $ [__________] SL-M1 $ 74,132,000 [__________] SL-M2 $ 71,741,000 [__________] SL-M3 $ 26,305,000 [__________] SL-M4 $ 30,290,000 [__________] SL-M5 $ 27,102,000 [__________] SL-M6 $ 19,131,000 [__________] SL-M7 $ 17,537,000 [__________] SL-M8 $ 14,438,000 [__________] SL-M9 $ 19,131,000 M10 [__________] SL-B1 $ 23,914,000 [__________] CUSIP : Class CUSIP No. 1-A1 35729V AA 5 A [__________] 2-A1 35729V AX0 0-X0 35729V AC1 A-1 [__________] 2-A3 35729V AD9 A-2 [__________] 2-A4 35729V AX0 X0 35729V AF4 A-3 [__________] 2-A-4 [__________] M-1 [__________] M-2 [__________] M-3 [__________] M-4 [__________] M-5 [__________] M-6 [__________] M-7 [__________] M-8 [__________] M-9 [__________] M-10 [__________] M-11 [__________] SL-A [__________] SL-M1 [__________] SL-M2 35729V AG2 [__________] SL-M3 35729V AH0 [__________] SL-M4 35729V AX0 X0 35729V AX0 X0 35729V AX0 X0 35729V AX0 X0 35729V AN7 [__________] SL-M5 [__________] SL-M6 [__________] SL-M7 [__________] SL-M8 [__________] SL-M9 35729V AP2 M10 35729V AQ0 [__________] SL-B1 [__________] ISIN : 1-A1 US35729VAA52 A [__________] 2-A1 US35729VAB36 A-1 [__________] 2-A2 US35729VAC19 A-2 [__________] 2-A3 US35729VAD91 A-3 [__________] 2-A4 US35729VAE74 A-4 [__________] M-1 [__________] M-2 [__________] M-3 [__________] M-4 [__________] M-5 [__________] M-6 [__________] M-7 [__________] M-8 [__________] M-9 [__________] M-10 [__________] M-11 [__________] SL-A [__________] SL-M1 US35729VAF40 [__________] SL-M2 US35729VAG23 [__________] SL-M3 US35729VAH06 [__________] SL-M4 US35729VAJ61 [__________] SL-M5 US35729VAK35 [__________] SL-M6 US35729VAL18 [__________] SL-M7 US35729VAM90 [__________] SL-M8 US35729VAN73 [__________] SL-M9 US35729VAP22 M00 XX00000XXX00 [__________] SL-B1 [__________] evidencing a percentage interest in the distributions allocable to the Certificates of the above-referenced Class. Principal in respect of this Certificate is distributable monthly as set forth herein. Accordingly, the Certificate Balance at any time may be less than the Certificate Balance as set forth herein. This Certificate does not evidence an obligation of, or an interest in, and is not guaranteed by the Depositor, the Servicer, the Trust Administrator, the Master Servicer or the Trustee referred to below or any of their respective affiliates. Neither this Certificate nor the Mortgage Loans are guaranteed or insured by any governmental agency or instrumentality. This certifies that CEDE & CO. is the registered owner of the Percentage Interest evidenced by this Certificate (obtained by dividing the denomination of this Certificate by the aggregate of the denominations of all Certificates of the Class to which this Certificate belongs) in certain monthly distributions pursuant to a Pooling and Servicing Agreement, dated as of November August 1, 2006 (the “Agreement”), among Fremont Mortgage Securities Corporation, as depositor (the “Depositor”), Fremont Investment & Loan, as sponsor, originator and servicer (“Fremont”), Wxxxx Fargo Bank, N.A., as master servicer, servicer and trust administrator (the “Trust Administrator”) and swap administrator, and HSBC Bank USA, National Association, as trustee (the “Trustee”). To the extent not defined herein, the capitalized terms used herein have the meanings assigned in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. No transfer of a Certificate of this Class shall be made, except as provided in section 5.02 of the Agreement. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose unless manually countersigned by an authorized signatory of the Trust Administrator.

Loan Limits. (i) No first lien Mortgage Loan has an original principal balance that exceeds the applicable Fxxxxx Mae loan limit (as in effect on the Closing Date); (ii) With respect to any subordinate lien Mortgage Loan, (A) has an original principal balance that exceeds one-half of the one-unit limitation for first lien mortgage loans, i.e., $208,500 (in Alaska, Guam, Hawaii or Virgin Islands: $312,750), without regard to the number of units; and (B) the original principal balance of the related first lien mortgage loan plus the original principal balance of subordinate lien Mortgage Loan does not exceed the applicable Fxxxxx Mxx Mac loan limit for first lien mortgage loans for that property type (as in effect on the Closing Date). UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS AN INTEREST IN A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), AND CERTAIN OTHER ASSETS. NO TRANSFER OF THIS CERTIFICATE SHALL BE REGISTERED UNLESS THE PROSPECTIVE TRANSFEREE PROVIDES THE TRUST ADMINISTRATOR WITH (A) A REPRESENTATION TO THE EFFECT THAT SUCH TRANSFEREE IS NEITHER AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN OR CHURCH PLAN SUBJECT TO SIMILAR LAW (COLLECTIVELY, A “PLAN”), NOR A PERSON ACTING FOR, ON BEHALF OF OR WITH THE ASSETS OF, ANY SUCH PLAN, OR (B) AN OPINION OF COUNSEL SATISFACTORY TO THE TRUST ADMINISTRATOR, AND UPON WHICH THE DEPOSITOR, THE TRUSTEE, THE TRUST ADMINISTRATOR, THE SWAP ADMINISTRATOR, THE MASTER SERVICER, THE NIM INSURER, IF ANY, SERVICER AND THE SERVICER SHALL BE ENTITLED TO RELY, TO THE EFFECT THAT THE PURCHASE OR HOLDING OF SUCH CERTIFICATE BY THE PROSPECTIVE TRANSFEREE (I) IS PERMISSIBLE UNDER APPLICABLE LAW, (II) WILL NOT RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER TITLE I OF ERISA OR SECTION 4975 OF THE CODE OR A VIOLATION OF SIMILAR LAW AND (III) WILL NOT SUBJECT THE DEPOSITOR, THE TRUSTEE, THE SWAP ADMINISTRATOR, THE TRUST ADMINISTRATOR, THE MASTER SERVICER, THE NIM INSURER, IF ANY, SERVICER OR THE SERVICER TO ANY OBLIGATION OR LIABILITY (INCLUDING OBLIGATIONS OR LIABILITIES UNDER ERISA OR SECTION 4975 OF THE CODE) IN ADDITION TO THOSE UNDERTAKEN BY SUCH ENTITIES IN THE POOLING AND SERVICING AGREEMENT, WHICH OPINION OF COUNSEL SHALL NOT BE AN EXPENSE OF THE DEPOSITOR, THE TRUSTEE, THE TRUST ADMINISTRATOR, THE MASTER SERVICER, THE SERVICER, THE SWAP ADMINISTRATOR, THE NIM INSURER, IF ANY, ADMINISTRATOR OR THE TRUST FUND. A TRANSFEREE OF A BOOK-ENTRY CERTIFICATE SHALL BE DEEMED TO HAVE MADE A REPRESENTATION AS REQUIRED HEREIN. Certificate No. : Cut-off Date : November September 1, 2006 First Distribution Date : The Distribution Date in December October, 2006 Initial Certificate Balance of this Certificate (“Denomination”) : Initial Certificate Balances of all Certificates of this Class : Class Principal Amount 1-A1 $ 602,413,000 2-A1 $ 300,378,000 2-A2 $ 131,716,000 2-A3 $ 146,221,000 2-A4 $ 48,424,000 M1 $ 74,132,000 M2 $ 71,741,000 M3 $ 26,305,000 M4 $ 30,290,000 M5 $ 27,102,000 M6 $ 19,131,000 M7 $ 17,537,000 M8 $ 14,438,000 M9 $ 19,131,000 M10 $ 23,914,000 CUSIP : Class CUSIP No. 1-A1 35729V AA 5 2-A1 35729V AX0 0-X0 35729V AC1 2-A3 35729V AD9 2-A4 35729V AX0 X0 35729V AF4 M2 35729V AG2 M3 35729V AH0 M4 35729V AX0 X0 35729V AX0 X0 35729V AX0 X0 35729V AX0 X0 35729V AN7 M9 35729V AP2 M10 35729V AQ0 ISIN 30000XXX0 M11 30000XXX0 XXXX : 1-A1 US35729VAA52 2-A1 US35729VAB36 2-A2 US35729VAC19 2-A3 US35729VAD91 2-A4 US35729VAE74 M1 US35729VAF40 M2 US35729VAG23 M3 US35729VAH06 M4 US35729VAJ61 M5 US35729VAK35 M6 US35729VAL18 M7 US35729VAM90 M8 US35729VAN73 M9 US35729VAP22 US35729TAA07 M00 XX00000XXX00 evidencing a percentage interest in the distributions allocable to the Certificates of the above-referenced Class. M00 XX00000XXX00 Principal in respect of this Certificate is distributable monthly as set forth herein. Accordingly, the Certificate Balance at any time may be less than the Certificate Balance as set forth herein. This Certificate does not evidence an obligation of, or an interest in, and is not guaranteed by the Depositor, the Servicer, the Trust Administrator, the Master Servicer or the Trustee referred to below or any of their respective affiliates. Neither this Certificate nor the Mortgage Loans are guaranteed or insured by any governmental agency or instrumentality. This certifies that CEDE & CO. is the registered owner of the Percentage Interest evidenced by this Certificate (obtained by dividing the denomination of this Certificate by the aggregate of the denominations of all Certificates of the Class to which this Certificate belongs) in certain monthly distributions pursuant to a Pooling and Servicing Agreement, dated as of November September 1, 2006 (the “Agreement”), among Fremont Mortgage Securities Corporation, as depositor (the “Depositor”), Fremont Investment & Loan, as sponsor, originator and servicer (“Fremont”), Wxxxx Fargo Bank, N.A., as master servicer, trust administrator (the “Trust Administrator”) and swap administrator, and HSBC Bank USA, National Association, as trustee (the “Trustee”). To the extent not defined herein, the capitalized terms used herein have the meanings assigned in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. No transfer of a Certificate of this Class shall be made, except as provided in section 5.02 of the Agreement, unless the Trust Administrator shall have received a representation letter from the transferee of such Certificate, acceptable to and in form and substance satisfactory to the Trust Administrator, to the effect that such transferee is not an employee benefit plan subject to Section 406 of ERISA, Section 4975 of the Code or any materially similar provisions of applicable Federal, state or local law (“Similar Law”), or a person acting on behalf of or investing plan assets of any such plan, which representation letter shall not be an expense of the Trustee, the Trust Administrator or the Trust Fund. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose unless manually countersigned by an authorized signatory of the Trust Administrator.

Loan Limits. (i) No first lien Mortgage Loan has an original principal balance that exceeds the applicable Fxxxxx Mae Fxxxxxx Mac loan limit (as in effect on the Closing Date); (ii) With respect to any subordinate lien Mortgage Loan, (Ai) such lien is on a one- to four-family residence that is the principal residence of the borrower; (ii) has an original principal balance that exceeds one-half of the one-unit limitation for first lien mortgage loans, i.e., $208,500 (in Alaska, Guam, Hawaii or Virgin Islands: $312,750), without regard to the number of units; and (Biii) the original principal balance of the related first lien mortgage loan plus the original principal balance of subordinate lien Mortgage Loan does not exceed the applicable Fxxxxx Mxx Fxxxxxx Mac loan limit for first lien mortgage loans for that property type (as in effect on the Closing Date). UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. SOLELY FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS AN INTEREST IN A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), AND CERTAIN OTHER ASSETS. NO TRANSFER OF THIS CERTIFICATE SHALL BE REGISTERED UNLESS THE PROSPECTIVE TRANSFEREE PROVIDES THE TRUST ADMINISTRATOR WITH (A) A REPRESENTATION TO THE EFFECT THAT SUCH TRANSFEREE IS NEITHER AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN OR CHURCH PLAN SUBJECT TO SIMILAR LAW (COLLECTIVELY, A “PLAN”), NOR A PERSON ACTING FOR, ON BEHALF OF OR WITH THE ASSETS OF, ANY SUCH PLAN, OR (B) AN OPINION OF COUNSEL SATISFACTORY TO THE TRUST ADMINISTRATOR, AND UPON WHICH THE DEPOSITOR, THE TRUSTEE, THE TRUST ADMINISTRATOR, THE SWAP ADMINISTRATOR, THE MASTER SERVICER, THE NIM INSURER, IF ANY, AND THE SERVICER SHALL BE ENTITLED TO RELY, TO THE EFFECT THAT THE PURCHASE OR HOLDING OF SUCH CERTIFICATE BY THE PROSPECTIVE TRANSFEREE (I) IS PERMISSIBLE UNDER APPLICABLE LAW, (II) WILL NOT RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER TITLE I OF ERISA OR SECTION 4975 OF THE CODE OR A VIOLATION OF SIMILAR LAW AND (III) WILL NOT SUBJECT THE DEPOSITOR, THE TRUSTEE, THE SWAP ADMINISTRATOR, THE TRUST ADMINISTRATOR, THE MASTER SERVICER, THE NIM INSURER, IF ANY, OR THE SERVICER TO ANY OBLIGATION OR LIABILITY (INCLUDING OBLIGATIONS OR LIABILITIES UNDER ERISA OR SECTION 4975 OF THE CODE) IN ADDITION TO THOSE UNDERTAKEN BY SUCH ENTITIES IN THE POOLING AND SERVICING AGREEMENT, WHICH OPINION OF COUNSEL SHALL NOT BE AN EXPENSE OF THE DEPOSITOR, THE TRUSTEE, THE TRUST ADMINISTRATOR, THE MASTER SERVICER, THE SERVICER, THE SWAP ADMINISTRATOR, THE NIM INSURER, IF ANY, OR THE TRUST FUND. A TRANSFEREE OF A BOOK-ENTRY CERTIFICATE SHALL BE DEEMED TO HAVE MADE A REPRESENTATION AS REQUIRED HEREIN. Certificate No. : Cut-off Date : November December 1, 2006 First Distribution Date : The Distribution Date in December 2006 January 2007 Initial Certificate Balance of this Certificate (“Denomination”) : Initial Certificate Balances of all Certificates of this Class : Class Principal Amount 1-A1 $ 602,413,000 468,289,000 2-A1 $ 300,378,000 261,573,000 2-A2 $ 131,716,000 97,102,000 2-A3 $ 146,221,000 93,888,000 2-A4 A-4 $ 48,424,000 44,239,000 M1 $ 74,132,000 60,318,000 M2 $ 71,741,000 61,602,000 M3 $ 26,305,000 20,533,000 M4 $ 30,290,000 30,159,000 M5 $ 27,102,000 22,459,000 M6 $ 19,131,000 16,042,000 M7 $ 17,537,000 16,043,000 M8 $ 14,438,000 11,550,000 M9 $ 19,131,000 18,609,000 M10 $ 23,914,000 22,459,000 CUSIP : Class CUSIP No. 1-A1 35729V AA 5 35279NAA3 2-A1 35729V AX0 035279NAB1 2-X0 35729V AC1 A2 35279NAC9 2-A3 35729V AD9 35279NAD7 2-A4 35729V AX0 X0 35729V AF4 30000XXX0 M1 35279NAE5 M2 35729V AG2 35279NAF2 M3 35729V AH0 35279NAG0 M4 35729V AX0 X0 35729V AX0 X0 35729V AX0 X0 35729V AX0 X0 35729V AN7 35279NAH8 M5 35279NAJ4 M6 35279NAK1 M7 35279NAL9 M8 35279NAM7 M9 35729V AP2 35279NAN5 M10 35729V AQ0 35279NAP0 ISIN : ISIN 1-A1 US35729VAA52 US35279NAA37 2-A1 US35729VAB36 US35279NAB10 2-A2 US35729VAC19 US35279NAC92 2-A3 US35729VAD91 US35279NAD75 2-A4 US35729VAE74 US35729NAT28 M1 US35729VAF40 US35279NAE58 M2 US35729VAG23 US35279NAF24 M3 US35729VAH06 US35279NAG07 M4 US35729VAJ61 US35279NAH89 M5 US35729VAK35 US35279NAJ46 M6 US35729VAL18 US35279NAK19 M7 US35729VAM90 US35279NAL91 M8 US35729VAN73 US35279NAM74 M9 US35729VAP22 US35279NAN57 M00 XX00000XXX00 evidencing a percentage interest in the distributions allocable to the Certificates of the above-referenced Class. Principal in respect of this Certificate is distributable monthly as set forth herein. Accordingly, the Certificate Balance at any time may be less than the Certificate Balance as set forth herein. This Certificate does not evidence an obligation of, or an interest in, and is not guaranteed by the Depositor, the Servicer, the Trust Administrator, the Master Servicer or the Trustee referred to below or any of their respective affiliates. Neither this Certificate nor the Mortgage Loans are guaranteed or insured by any governmental agency or instrumentality. This certifies that CEDE & CO. is the registered owner of the Percentage Interest evidenced by this Certificate (obtained by dividing the denomination of this Certificate by the aggregate of the denominations of all Certificates of the Class to which this Certificate belongs) in certain monthly distributions pursuant to a Pooling and Servicing Agreement, dated as of November December 1, 2006 (the “Agreement”), among Fremont Mortgage Securities Corporation, as depositor (the “Depositor”), Fremont Investment & Loan, as sponsor, originator and servicer (“Fremont”), Wxxxx Fargo Bank, N.A., as master servicer, trust administrator (the “Trust Administrator”) and swap administrator, and HSBC Bank USA, National Association, as trustee (the “Trustee”). To the extent not defined herein, the capitalized terms used herein have the meanings assigned in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. No transfer of a Certificate of this Class shall be made, except as provided in section 5.02 of the Agreement. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose unless manually countersigned by an authorized signatory of the Trust Administrator.