Common use of Origination; Payment Terms Clause in Contracts

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;

Origination; Payment Terms. Either (a) the The Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. No Mortgage Loan contains terms or provisions which would result in negative amortization. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to in the case of an Adjustable Rate Mortgage loansLoan, the Lifetime Rate Cap and the Periodic Cap, Cap are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on the first day of each month. There are no Convertible The Mortgage Loans which contain Loan does not require a provision allowing balloon payment on its stated maturity date, unless otherwise specified in the Mortgagor to convert the related Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage NoteLoan Schedule;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller Accredited meets the requirements set forth in clause (a), ) and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerAccredited, using application forms and related credit documents approved by the SellerAccredited, (ii) the Seller Accredited approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Accredited agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the SellerAccredited, and (iv) such Mortgage Loan was actually funded by the Seller Accredited and was purchased by the Seller Accredited at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced are required to commence no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Except with respect to a "balloon" Mortgage Loan, the Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee Mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: NC Capital purchased the Seller Mortgage Loan from New Century Mortgage Corporation, its affiliate, that meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerNew Century Mortgage Corporation, using application forms and related credit documents approved by the SellerNew Century Mortgage Corporation, (ii) the Seller New Century Mortgage Corporation approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller New Century Mortgage Corporation agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, New Century Mortgage Corporation and (iv) such Mortgage Loan was actually funded by the Seller New Century Mortgage Corporation and was purchased by the Seller New Century Mortgage Corporation at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, are is as set forth on Mortgage Loan Schedule hereto (including in the related case of Adjustable Rate Mortgage Loans, the interest rate and payment limitations set forth on Mortgage Loan Schedule hereto). All Mortgage Loans have Due Dates on the first day of each month except as specified on the Mortgage Loan Schedule. The Each Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, arrears and is not calculated on a simple interest basis. The monthly principal payments on each Mortgage Loan is sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on There is no negative amortization allowed in the related terms of any Mortgage Loan Schedule, Note. None of the Mortgage Loans allows for negative amortization or the conversion of the interest rate thereon from an adjustable rate to a fixed rate or from a fixed rate to an adjustable rate. No Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage NoteBalloon Loan;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced are required to commence no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Except with respect to a "balloon" Mortgage Loan, the Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee Mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller NC Capital Corporation meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerNC Capital Corporation, using application forms and related credit documents approved by the SellerNC Capital Corporation, (ii) the Seller NC Capital Corporation approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller NC Capital Corporation agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, NC Capital Corporation and (iv) such Mortgage Loan was actually funded by the Seller NC Capital Corporation and was purchased by the Seller NC Capital Corporation at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, are is as set forth on Mortgage Loan Schedule hereto (including in the related case of Adjustable Rate Mortgage Loans, the interest rate and payment limitations set forth on Mortgage Loan Schedule hereto). All Mortgage Loans have Due Dates on the first day of each month except as specified on the Mortgage Loan Schedule. The Each Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, arrears and is not calculated on a simple interest basis. The monthly principal payments on each Mortgage Loan is sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on There is no negative amortization allowed in the related terms of any Mortgage Loan Schedule, Note. None of the Mortgage Loans allows for negative amortization or the conversion of the interest rate thereon from an adjustable rate to a fixed rate or from a fixed rate to an adjustable rate. No Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage NoteBalloon Loan;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller Aames meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerAames, using application forms and related credit documents approved by the SellerAames, (ii) the Seller Aames approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Aames agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the SellerAames, and (iv) such Mortgage Loan was actually funded by the Seller Aames and was purchased by the Seller Aames at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loansLoans, the Lifetime Rate Cap and the Periodic Rate Cap, are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related description of pool characteristics for the applicable Mortgage Loan SchedulePackage delivered pursuant to the Aames Purchase Agreement, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee Mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: NC Capital Corporation purchased the Seller Mortgage Loan from New Century Mortgage Corporation, its affiliate, that meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerNew Century Mortgage Corporation, using application forms and related credit documents approved by the SellerNew Century Mortgage Corporation, (ii) the Seller New Century Mortgage Corporation approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller New Century Mortgage Corporation agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, New Century Mortgage Corporation and (iv) such Mortgage Loan was actually funded by the Seller New Century Mortgage Corporation and was purchased by the Seller New Century Mortgage Corporation at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, are is as set forth on Mortgage Loan Schedule hereto (including in the related case of Adjustable Rate Mortgage Loans, the interest rate and payment limitations set forth on Mortgage Loan Schedule hereto). All Mortgage Loans have Due Dates on the first day of each month except as specified on the Mortgage Loan Schedule. The Each Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, arrears and is not calculated on a simple interest basis. The monthly principal payments on each Mortgage Loan is sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on There is no negative amortization allowed in the related terms of any Mortgage Loan Schedule, Note. None of the Mortgage Loans allows for negative amortization or the conversion of the interest rate thereon from an adjustable rate to a fixed rate or from a fixed rate to an adjustable rate. No Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage NoteBalloon Loan;

Origination; Payment Terms. Either (a) At the time the Mortgage Loan was originated by originated, the originator was a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, an operating subsidiary of a national bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. No Mortgage Loan contains terms or provisions which would result in negative amortization. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap and the Periodic Rate Cap, are as set forth on the related Mortgage Loan ScheduleExhibit I hereto. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Scheduledescription of pool characteristics attached as Exhibit I hereto, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;

Origination; Payment Terms. Either (a) the The Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority. The Seller and all other parties which have had any interest in the Mortgage Loan, whether as mortgagee, assignee, pledgee or otherwise, are (or, during the period in which they held and disposed of such interest, were) (1) in compliance with any and all applicable licensing requirements of the laws of the state wherein the Mortgaged Property is located, and (2) organized under the laws of such state, or (b3) the following requirements have been met qualified to do business in such state, or (4) federal savings and loan associations or national banks having principal offices in such state, or (5) not doing business in such state. Except with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such any Interest-Only Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal principal payments on the Mortgage Loan commenced no more than sixty (60) days after funds were disbursed in connection with the proceeds of the Mortgage LoanLoan were disbursed. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over Loans have an original term to maturity of not more than thirty years from commencement (30) years, with interest payable in arrears. As to each ARM Mortgage Loan, on each applicable Adjustment Date, the Mortgage Interest Rate will be adjusted to equal the sum of amortization. Unless otherwise specified the Index plus the applicable Gross Margin, rounded up or down as stated on the related Mortgage Loan ScheduleNote; provided, however, that the Mortgage Interest Rate will not increase or decrease by more than the Initial Rate Cap on the first Adjustment Date or the Periodic Rate Cap on any subsequent Adjustment Date, and will in no event exceed the Lifetime Rate Cap. Each Mortgage Note requires a monthly payment which is sufficient (i) during the period prior to the first adjustment to the Mortgage Interest Rate, to amortize the original principal balance fully over the original term thereof and to pay interest at the related Mortgage Interest Rate, and (ii) during the period following each Adjustment Date in the case of each ARM Mortgage Loan is payable on (or following each Interest-Only Adjustment Date in the case of each Interest-Only Mortgage Loan), to amortize the outstanding principal balance fully as of the first day of each monthsuch period over the then remaining term of such Mortgage Note and to pay interest at the related Mortgage Interest Rate. There are no Convertible The Mortgage Loans which contain a provision allowing the Mortgagor to convert Note does not permit negative amortization. Interest on the Mortgage Note from an adjustable is calculated on the basis of a 360-day year consisting of twelve 30-day months. No Mortgage Loan is a Convertible Mortgage Loan. None of the Mortgage Loans are simple interest rate Mortgage Note to a fixed interest rate Mortgage Note;Loans.

Origination; Payment Terms. Either (a) the The Acoustic Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. No Acoustic Mortgage Loan contains terms or provisions which would result in negative amortization. Principal payments on the Acoustic Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Acoustic Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap and the Periodic Mortgage Interest Rate Cap, are as set forth on the related Acoustic Mortgage Loan Schedule. The Except with respect to Interest Only Mortgage Loans, the Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Acoustic Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortizationamortization with interest calculated and payable in arrears. Unless otherwise specified All installments of interest with respect to Adjustable Rate Mortgage Loans are subject to change due to the adjustments to the Mortgage Interest Rate on the related Mortgage Loan Schedule, the each Adjustment Date. The Acoustic Mortgage Loan is payable on the first day of each month. There are no Convertible No Acoustic Mortgage Loans which contain Loan is a provision allowing the Mortgagor to convert the Mortgage Note from balloon mortgage loan that has an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Noteoriginal stated maturity of less than seven (7) years;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loansLoans, the Lifetime Rate Cap and the Periodic Cap, Cap are as set forth on Exhibit B to the related Mortgage Loan ScheduleAssignment and Conveyance. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related description of pool characteristics for the applicable Mortgage Loan SchedulePackage delivered pursuant to Section 11 on the related Closing Date attached as Exhibit B to the related Assignment and Conveyance, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee Mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller NC Capital Corporation meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerNC Capital Corporation, using application forms and related credit documents approved by the SellerNC Capital Corporation, (ii) the Seller NC Capital Corporation approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller NC Capital Corporation agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the SellerNC Capital Corporation, and (iv) such Mortgage Loan was actually funded by the Seller NC Capital Corporation and was purchased by the Seller NC Capital Corporation at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, are is as set forth on Mortgage Loan Schedule hereto (including in the related case of Adjustable Rate Mortgage Loans, the interest rate and payment limitations set forth on Mortgage Loan Schedule hereto). All Mortgage Loans have Due Dates on the first day of each month except as specified on the Mortgage Loan Schedule. The Each Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, arrears and is not calculated on a simple interest basis. The monthly principal payments on each Mortgage Loan is sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on There is no negative amortization allowed in the related terms of any Mortgage Loan Schedule, Note. None of the Mortgage Loans allows for negative amortization or the conversion of the interest rate thereon from an adjustable rate to a fixed rate or from a fixed rate to an adjustable rate. No Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage NoteBalloon Loan;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: NC Capital Corporation purchased the Seller Mortgage Loan from New Century Mortgage Corporation, its affiliate, that meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerNew Century Mortgage Corporation, using application forms and related credit documents approved by the SellerNew Century Mortgage Corporation, (ii) the Seller New Century Mortgage Corporation approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller New Century Mortgage Corporation agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, New Century Mortgage Corporation and (iv) such Mortgage Loan was actually funded by the Seller New Century Mortgage Corporation and was purchased by the Seller New Century Mortgage Corporation at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, are is as set forth on Mortgage Loan Schedule hereto (including in the related case of Adjustable Rate Mortgage Loans, the interest rate and payment limitations set forth on Mortgage Loan Schedule hereto). All Mortgage Loans have Due Dates on the first day of each month except as specified on the Mortgage Loan Schedule. The Each Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, arrears and is not calculated on a simple interest basis. The monthly principal payments on each Mortgage Loan is sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on There is no negative amortization allowed in the related terms of any Mortgage Loan Schedule, Note. None of the Mortgage Loans allows for negative amortization or the conversion of the interest rate thereon from an adjustable rate to a fixed rate or from a fixed rate to an adjustable rate. No Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage NoteBalloon Loan;

Origination; Payment Terms. Either (a) the The Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. No Mortgage Loan contains terms or provisions which would result in negative amortization. Principal payments on the Mortgage Loan commenced no more than sixty (60) days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty (30) years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the The Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note. No Mortgage Loan is a balloon mortgage loan that has an original stated maturity of less than seven (7) years;

Origination; Payment Terms. Either (a) the The Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. No Mortgage Loan contains terms or provisions which would result in negative amortization. Principal payments on the Mortgage Loan (other than a Mortgage Loan that does not provide for payment of principal for a period of twenty-four to thirty-six months after the date of origination (such Mortgage Loan, an "Interest Only Mortgage Loan")) commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap and the Periodic Cap, Mortgage Interest Rate Cap are as set forth on the related Mortgage Loan Schedule. The With respect to any Mortgage Loan other than an Interest Only Mortgage Loan, the Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Mortgage Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on None of the related Mortgage Loan Schedule, Loans allows for conversion of the interest rate thereon from an adjustable rate to a fixed rate. No Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable simple interest rate Mortgage Note to a fixed interest rate Mortgage Notemortgage loan;

Origination; Payment Terms. Either (a) Except with respect to a Correspondent Mortgage Loan, the Mortgage Loan was originated by Seller. Seller is a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. No Mortgage Loan contains terms or provisions which would result in negative amortization. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate mortgage interest rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap lifetime rate cap and the Periodic Cap, periodic cap are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate adjustable rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate mortgage interest rate on each Interest Rate Adjustment Dateinterest rate adjustment date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedulespecified, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;.

Origination; Payment Terms. Either (a) the The Mortgage Loan was originated by (i) a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, authority or (bii) by a correspondent mortgage banker or broker licensed or authorized to do business in the following requirements have been met with respect to jurisdiction in which the related Mortgaged Property is located, in which case the Mortgage Loan: Loan was re-underwritten by the Seller meets prior to purchasing the requirements set forth Mortgage Loan in clause (a), and (i) accordance with its Underwriting Guidelines in effect on the date such Mortgage Loan was underwritten originated. The Seller and all other parties which have had any interest in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, whether as mortgagee, assignee, pledgee or otherwise, are (iiior, during the period in which they held and disposed of such interest, were) in compliance with any and all applicable “doing business” and licensing requirements of the closing documents for such Mortgage Loan were prepared on forms approved by laws of the Seller, and (iv) such Mortgage Loan was actually funded by state wherein the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleadingMortgaged Property is located. Principal payments on the Mortgage Loan commenced no more than sixty (60) days after funds were disbursed in connection with the proceeds of the Mortgage LoanLoan were disbursed. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over Loans have an original term to maturity of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule(30) years, the Mortgage Loan is with interest payable in arrears on the first day of each the month. There are As to each ARM Mortgage Loan, on each applicable Adjustment Date, the Mortgage Interest Rate will be adjusted to equal the sum of the Index plus the applicable Gross Margin, rounded up or down to the nearest multiple of 0.125%; provided, however, that the Mortgage Interest Rate will not increase or decrease by more than the Initial Rate Cap on the first Adjustment Date or the Periodic Rate Cap on any subsequent Adjustment Date, and will in no Convertible event exceed the Lifetime Rate Cap. Other than with respect to all Interest-Only Mortgage Loans or a Mortgage Loan with a balloon feature, each Mortgage Note requires a monthly payment which contain a provision allowing is sufficient (i) during the Mortgagor period prior to convert the first adjustment to the Mortgage Interest Rate, to amortize the original principal balance fully over the original term thereof and to pay interest at the related Mortgage Interest Rate, and (ii) during the period following each Adjustment Date in the case of each ARM Mortgage Loan (or following each Interest-Only Adjustment Date in the case of each Interest-Only Mortgage Loan), to amortize the outstanding principal balance fully as of the first day of such period over the then remaining term of such Mortgage Note and to pay interest at the related Mortgage Interest Rate. The Mortgage Note does not permit negative amortization. Interest on the Mortgage Note from an adjustable is calculated on the basis of a 360-day year consisting of twelve 30-day months. No Mortgage Loan is a Convertible Mortgage Loan. None of the Mortgage Loans are simple interest rate Mortgage Note to a fixed interest rate Mortgage Note;Loans.

Origination; Payment Terms. Each Mortgage Loan was either originated by the Originator or acquired by the Originator from a Third Party Originator or Qualified Correspondent and, subsequent to the Originator’s origination or acquisition of such Mortgage Loan, the Originator conveyed the Mortgage Loan to the Seller. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets and the Originator meet the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerSeller and the Originator, using application forms and related credit documents approved by the SellerSeller and the Originator, (ii) the Seller and the Originator approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller and the Originator agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the SellerSeller and the Originator, and (iv) such Mortgage Loan was actually funded by the Seller and the Originator and was purchased by the Seller and the Originator at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal No Mortgage Loan contains terms or provisions which would result in negative amortization. Except with respect to IO Mortgage Loans, principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap Cap, the Initial Rate Cape and the Periodic Cap, are as set forth on the related Mortgage Loan ScheduleExhibit G hereto. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on ; provided that with respect to IO Mortgage Loans, The Mortgage Note is initially payable in equal monthly installments of interest, with interest calculated and payable in arrears, for such period set forth in the related Mortgage Note and then the Mortgage Note is payable in equal monthly installments of principal and interest, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan Schedulefully by the stated maturity date, over the remaining term of the IO Mortgage Loan. The Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;

Origination; Payment Terms. Either Except as set forth on the Mortgage Loan Schedule, either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact No Mortgage Loan contains terms or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleadingprovisions which would result in negative amortization. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan ScheduleExhibit I hereto. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Scheduledescription of pool characteristics attached as Exhibit G hereto, the Mortgage Loan is payable on the first day of each monthmonth (subject to a grace period set forth in the related Mortgage Note). There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller Responsible Party meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerResponsible Party, using application forms and related credit documents approved by the SellerResponsible Party, (ii) the Seller Responsible Party approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Responsible Party agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the SellerResponsible Party, and (iv) such Mortgage Loan was actually funded by the Seller and Responsible Party or was purchased by the Seller Responsible Party at closing or soon thereafter. The To the best of the Responsible Party's knowledge, the documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleadingmisleading in light of the circumstances under which they were made. Principal payments on the Mortgage Loan commenced no more than sixty days two months after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate as the lifetime Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, Mortgage Rate Cap are as set forth on the related Mortgage Loan ScheduleSchedule hereto. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, except with respect to Balloon Loans sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. The Mortgage Loan bears interest at the Mortgage Rate and the Mortgage Note does not permit negative amortization. Unless otherwise specified on the related Mortgage Loan Scheduledescription of pool characteristics attached as Exhibit I to the Purchase Agreement, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage NoteLoans;

Origination; Payment Terms. Either Except as set forth on the Mortgage Loan Schedule, either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller Responsible Party meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerResponsible Party, using application forms and related credit documents approved by the SellerResponsible Party, (ii) the Seller Responsible Party approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Responsible Party agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the SellerResponsible Party, and (iv) such Mortgage Loan was actually funded by the Seller Responsible Party and was purchased by the Seller Responsible Party at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact No Mortgage Loan contains terms or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleadingprovisions which would result in negative amortization. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan ScheduleExhibit I hereto. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Scheduledescription of pool characteristics attached as Exhibit G hereto, the Mortgage Loan is payable on the first day of each monthmonth (subject to a grace period set forth in the related Mortgage Note). There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;

Origination; Payment Terms. Either (a) the The Senderra Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal No Senderra Mortgage Loan contains terms or provisions which would result in negative amortization. Unless such Senderra Mortgage Loan is an Interest-Only Loan, principal payments on the Senderra Mortgage Loan commenced no more than sixty (60) days after funds were disbursed in connection with the Senderra Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Exhibit I hereto. Unless such Senderra Mortgage Loan Schedule. The is an Interest-Only Loan, for which monthly payments include interest only and not principal until maturity, the Mortgage Note is payable on the first day of each month in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Senderra Mortgage Loan, unless such Senderra Mortgage Loan is an Interest-Only Loan, fully by the stated maturity date, over an original term of not more than thirty (30) years from commencement of amortization. Unless otherwise specified on the related amortization (other than with respect to 40/30 Mortgage Loan Schedule, the Mortgage Loan is payable on the first day of each monthLoans). There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note. No Senderra Mortgage Loan is a balloon mortgage loan that has an original stated maturity of less than seven (7) years;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller Responsible Party meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerResponsible Party, using application forms and related credit documents approved by the SellerResponsible Party, (ii) the Seller Responsible Party approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Responsible Party agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the SellerResponsible Party, and (iv) such Mortgage Loan was actually funded by the Seller Responsible Party and was purchased by the Seller Responsible Party at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal No Mortgage Loan contains terms or provisions which would result in negative amortization. Except with respect to Interest Only Mortgage Loans, principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Except with respect to Interest Only Mortgage Loans, the Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. With respect to Adjustable Rate Mortgage Loans, such installments of interest are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date. Unless otherwise specified on the related description of pool characteristics on the Mortgage Loan Schedule, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note. No Mortgage Loan is a balloon mortgage loan that has an original stated maturity of less than seven (7) years;

Origination; Payment Terms. Either Except as set forth in the related Mortgage Loan Schedule, either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact No Mortgage Loan contains terms or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleadingprovisions which would result in negative amortization. Principal payments on the Mortgage Loan commenced no more than sixty seventy days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the The Mortgage Loan is payable on the first day of each monthmonth (subject to a grace period set forth in the related Mortgage Note). There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;

Origination; Payment Terms. Either The Meritage Mortgage Loan was originated, either (a) the Mortgage Loan originator was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, Act or a savings and loan association, a savings bank, a commercial bank, credit union, insurance company bank or other similar banking institution which is supervised and examined by a federal Federal or state authority, State authority or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller Meritage meets the requirements set forth in clause (a), and (i) such Meritage Mortgage Loan was underwritten in accordance with standards established by the SellerMeritage, using application forms and related credit documents approved by the SellerMeritage, (ii) the Seller Meritage approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Meritage agreed to fund such Meritage Mortgage Loan, (iii) the closing documents for such Meritage Mortgage Loan were prepared on forms approved by the SellerMeritage, and (iv) such Meritage Mortgage Loan was actually funded by the Seller and was purchased by the Seller Meritage at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal No Meritage Mortgage Loan contains terms or provisions which would result in negative amortization. Except with respect to Meritage Mortgage Loans that are Interest Only Mortgage Loans, principal payments on the Meritage Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Meritage Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap and the Periodic Mortgage Interest Rate Cap, are as set forth on the related Meritage Mortgage Loan ScheduleSchedule hereto. The Except with respect to Meritage Mortgage Loans that are Interest Only Mortgage Loans or Meritage Mortgage Loans that require principal and interest payments sufficient to amortize the Mortgage Loan fully by the stated maturity date over an original term of not more than 40 years from commencement of amortization, the Mortgage Note is payable in equal monthly installments of principal and interest (or with respect to Meritage Mortgage Loans that are Interest Only Mortgage Loans, payments of interest during the interest-only period), which installments of interest, interest with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the The Mortgage Loan is payable on the first day of each month. There are no Convertible No Meritage Mortgage Loans which contain Loan is a provision allowing the Mortgagor to convert the Mortgage Note from balloon mortgage loan that has an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Noteoriginal stated maturity of less than seven (7) years;

Origination; Payment Terms. Either As of the Securitization Closing Date, either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced are required to commence no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Except with respect to a "balloon" Mortgage Loan, the Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;

Origination; Payment Terms. Either (a) the The Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements . The Seller and all other parties which have been met with respect to had any interest in the Mortgage Loan: , whether as mortgagee, assignee, pledgee or otherwise, are (or, during the Seller meets period in which they held and disposed of such interest, were) in compliance with any and all applicable “doing business” and licensing requirements of the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by laws of the Seller, using application forms and related credit documents approved by state wherein the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleadingMortgaged Property is located. Principal payments on the Mortgage Loan commenced no more than sixty (60) days after funds were disbursed in connection with the proceeds of the Mortgage LoanLoan were disbursed. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over Loans have an original term to maturity of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule(30) years, the Mortgage Loan is with interest payable in arrears on the first day of each the month. There are As to each ARM Mortgage Loan, on each applicable Adjustment Date, the Mortgage Interest Rate will be adjusted to equal the sum of the Index plus the applicable Gross Margin, rounded up or down to the nearest multiple of 0.125%; provided, however, that the Mortgage Interest Rate will not increase or decrease by more than the Initial Rate Cap on the first Adjustment Date or the Periodic Rate Cap on any subsequent Adjustment Date, and will in no Convertible event exceed the Lifetime Rate Cap. Each Mortgage Loans Note requires a monthly payment which contain a provision allowing is sufficient (i) during the Mortgagor period prior to convert the first adjustment to the Mortgage Interest Rate, to amortize the original principal balance fully over the original term thereof and to pay interest at the related Mortgage Interest Rate, and (ii) during the period following each Adjustment Date in the case of each ARM Mortgage Loan (or following each Interest-Only Adjustment Date in the case of each Interest-Only Mortgage Loan), to amortize the outstanding principal balance fully as of the first day of such period over the then remaining term of such Mortgage Note and to pay interest at the related Mortgage Interest Rate. The Mortgage Note does not permit negative amortization. Interest on the Mortgage Note from an adjustable is calculated on the basis of a 360-day year consisting of twelve 30-day months. No Mortgage Loan is a Convertible Mortgage Loan. None of the Mortgage Loans are simple interest rate Mortgage Note to a fixed interest rate Mortgage Note;Loans.

Origination; Payment Terms. Either (a) the The Mortgage Loan was originated Originated by Seller, which is a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which that is supervised and examined by a federal or state authority or duly licensed by state licensing authority, or (b) the following requirements if applicable. Seller and all other parties that have been met with respect to had any interest in the Mortgage Loan: , whether as mortgagee, assignee, pledgee or otherwise, are (or, during the Seller meets period in which they held and disposed of such interest, were) in compliance with any and all applicable licensing requirements of the requirements set forth in clause (a)laws of the state wherein the Mortgaged Property is located, and either (i1) organized under the laws of such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Sellerstate, (ii2) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no qualified to do business in such commitment was issued until the Seller agreed to fund such Mortgage Loanstate, (iii3) the closing documents for federal savings and loan associations, savings banks or national banks having principal offices in such Mortgage Loan were prepared on forms approved state, (4) not doing business in such state or (5) not required by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement any Requirement of material fact or omit to state a material fact required Law to be stated therein or necessary qualified to make the information and statements therein not misleadingdo business in such state. Principal payments on the Mortgage Loan commenced or will commence no more than sixty (60) days after funds were disbursed in connection with the proceeds of the Mortgage LoanLoan were disbursed. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is requires interest payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable arrears on the first day of each the month. There are no Convertible Each Mortgage Loans which contain Note requires a provision allowing monthly payment that is sufficient (i) during the Mortgagor period before the first adjustment to convert the Mortgage interest rate, to amortize the original principal balance fully over the original term thereof (unless otherwise provided in the Agency Guidelines) and to pay interest at the related Mortgage interest rate, and (ii) during the period following each interest rate adjustment date in the case of each adjustable rate Mortgage Loan, to amortize the outstanding principal balance fully as of the first day of such period over the then remaining term of such Mortgage Note and to pay interest at the related Mortgage interest rate. The Mortgage Note does not permit negative amortization. Interest on the Mortgage Note from an adjustable is calculated on the basis of a 360 day year consisting of twelve 30-day months. The Mortgage Loan is not a simple interest rate Mortgage Loan (meaning a Mortgage Loan on which interest is calculated on a daily basis). The Mortgage Loan does not require a balloon payment upon the maturity thereof. The Mortgage Note to a fixed interest rate Mortgage Note;does not by its terms provide for the capitalization or forbearance of interest.

Origination; Payment Terms. Either (a) the The Mortgage Loan was originated by Seller or, if a Correspondent Loan, an Approved Correspondent, which is a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which that is supervised and examined by a federal or state authority or duly licensed by state licensing authority, or (b) the following requirements if applicable. Seller and all other parties that have been met with respect to had any interest in the Mortgage Loan: , whether as mortgagee, assignee, pledgee or otherwise, are (or, during the Seller meets period in which they held and disposed of such interest, were) in compliance with any and all applicable licensing requirements of the requirements set forth in clause (a)laws of the state wherein the Mortgaged Property is located, and either (i1) organized under the laws of such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Sellerstate, (ii2) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no qualified to do business in such commitment was issued until the Seller agreed to fund such Mortgage Loanstate, (iii3) the closing documents for federal savings and loan associations or national banks having principal offices in such Mortgage Loan were prepared on forms approved by the Seller, and state or (iv4) not doing business in such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleadingstate. Principal payments on the Mortgage Loan commenced or will commence no more than sixty (60) days after funds were disbursed in connection with the proceeds of the Mortgage LoanLoan were disbursed. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is requires interest payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable arrears on the first day of each the month. There are no Convertible Each Mortgage Loans which contain Note requires a provision allowing monthly payment that is sufficient (i) during the Mortgagor period before the first adjustment to convert the Mortgage interest rate, to amortize the original principal balance fully over the original term thereof (unless otherwise provided in the applicable Agency Guidelines) and to pay interest at the related Mortgage interest rate, and (ii) during the period following each interest rate adjustment date in the case of each adjustable rate Mortgage Loan, to amortize the outstanding principal balance fully as of the first day of such period over the then remaining term of such Mortgage Note and to pay interest at the related Mortgage interest rate. The Mortgage Note does not permit negative amortization. Interest on the Mortgage Note from an adjustable is calculated on the basis of a 360 day year consisting of twelve 30-day months. The Mortgage Loan is not a simple interest rate Mortgage Loan (meaning a Mortgage Loan on which interest is calculated daily). The Mortgage Loan does not require a balloon payment upon the maturity thereof. The Mortgage Note to a fixed interest rate Mortgage Note;does not by its terms provide for the capitalization or forbearance of interest.

Origination; Payment Terms. Either (a) the The Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements . The Seller and all other parties which have been met with respect to had any interest in the Mortgage Loan: , whether as mortgagee, assignee, pledgee or otherwise, are (or, during the Seller meets period in which they held and disposed of such interest, were) in compliance with any and all applicable “doing business” and licensing requirements of the laws of the state wherein the Mortgaged Property is located, which such “doing business” and licensing requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by are necessary to ensure the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund enforceability of such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty (60) days after funds were disbursed in connection with the proceeds of the Mortgage LoanLoan were disbursed. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over Loans have an original term to maturity of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule(30) years, the Mortgage Loan is with interest payable in arrears on the first day of each the month. There are As to each ARM Mortgage Loan, on each applicable Adjustment Date, the Mortgage Interest Rate will be adjusted to equal the sum of the Index plus the applicable Gross Margin, rounded up or down to the nearest multiple of 0.125%; provided, however, that the Mortgage Interest Rate will not increase or decrease by more than the Initial Rate Cap on the first Adjustment Date or the Periodic Rate Cap on any subsequent Adjustment Date, and will in no Convertible event exceed the Lifetime Rate Cap. Each Mortgage Loans Note requires a monthly payment which contain a provision allowing is sufficient (i) during the Mortgagor period prior to convert the first adjustment to the Mortgage Interest Rate, to amortize the original principal balance fully over the original term thereof and to pay interest at the related Mortgage Interest Rate, and (ii) during the period following each Adjustment Date, to amortize the outstanding principal balance fully as of the first day of such period over the then remaining term of such Mortgage Note and to pay interest at the related Mortgage Interest Rate. The Mortgage Note does not permit negative amortization. Interest on the Mortgage Note from an adjustable is calculated on the basis of a 360-day year consisting of twelve 30-day months. No Mortgage Loan is a Convertible Mortgage Loan. None of the Mortgage Loans are simple interest rate Mortgage Note to a fixed interest rate Mortgage Note;Loans.

Origination; Payment Terms. Either (a) the The Mortgage Loan was originated by or in conjunction with a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar banking institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal and/or interest payments on the Mortgage Loan commenced no more than sixty 60 days after funds were disbursed in connection with the Mortgage Loan. The No Mortgage Loan has a balloon payment feature. To the extent required by the Underwriting Guidelines, the Mortgagor contributed at least five percent (5%) (or three and one-half percent (3.5%) for FHA Loans) of the purchase price for the Mortgaged Property from their own funds. Interest on the Mortgage Loan is calculated on the basis of a 360-day year consisting of twelve 30-day months. With respect to adjustable rate Mortgage Loans, the Mortgage Interest Rate as well asis adjusted on each Interest Rate Adjustment Date to equal the Index plus the Gross Margin (rounded up or down to the nearest .125%), with respect subject to Adjustable the Mortgage Interest Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable on the first day of each month in equal monthly installments of principal and interestand/or interest (subject to an “interest only” period in the case of Interest Only Loans), which installments of interest, interest (a) with respect to Adjustable Rate adjustable rate Mortgage Loans, Loans are subject to change on the Interest Rate Adjustment Date due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date and (b) with respect to Interest Only Loans are subject to change on the Interest Only Adjustment Date due to adjustments to the Mortgage Interest Rate on each Interest Only Adjustment Date, in both cases with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty 30 years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;.

Origination; Payment Terms. Either (a) the The Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements . The Seller and all other parties which have been met with respect to had any interest in the Mortgage Loan: , whether as mortgagee, assignee, pledgee or otherwise, are (or, during the Seller meets period in which they held and disposed of such interest, were) in compliance with any and all applicable “doing business” and licensing requirements of the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by laws of the Seller, using application forms and related credit documents approved by state wherein the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleadingMortgaged Property is located. Principal payments on the Mortgage Loan commenced no more than sixty (60) days after funds were disbursed in connection with the proceeds of the Mortgage LoanLoan were disbursed. The Mortgage Loans have an original term to maturity of not more than thirty (30) years, with interest payable in arrears on the first day of the month. As to each ARM Mortgage Loan, on each applicable Adjustment Date, the Mortgage Interest Rate as well aswill be adjusted to equal the sum of the Index plus the applicable Gross Margin, with respect rounded up or down to Adjustable the nearest multiple of 0.125%; provided, however, that the Mortgage Interest Rate Mortgage loanswill not increase or decrease by more than the Initial Rate Cap on the first Adjustment Date or the Periodic Rate Cap on any subsequent Adjustment Date, and will in no event exceed the Lifetime Rate Cap Cap. Each Mortgage Note requires a monthly payment which is sufficient (i) during the period prior to the first adjustment to the Mortgage Interest Rate, to amortize the original principal balance fully over the original term thereof and the Periodic Cap, are as set forth on to pay interest at the related Mortgage Loan ScheduleInterest Rate, and (ii) during the period following each Adjustment Date, to amortize the outstanding principal balance fully as of the first day of such period over the then remaining term of such Mortgage Note and to pay interest at the related Mortgage Interest Rate. The Mortgage Note does not permit negative amortization. Each Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, . The Monthly Payments are sufficient to amortize the Mortgage Loan fully by the maturity date stated maturity datein the Note, over an original a remaining term of not more than thirty years from commencement (30) years, within a tolerance of amortizationone hundred dollars ($100). Unless otherwise specified Purchaser shall be entitled to the remedies set out in this Sale Agreement for breach of representation or warranty as if the forgoing representation and warranty shall have been given without any reference to a tolerance. Interest on the related Mortgage Loan Schedule, the each Mortgage Loan is calculated and payable on the first day of each monthin arrears. There are no No Mortgage Loan is a Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert Loan. None of the Mortgage Note from an adjustable Loans are simple interest rate Mortgage Note to a fixed interest rate Mortgage Note;Loans.

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, authority or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller Mortgage Loan meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerBorrowers, using application forms and related credit documents approved by the SellerBorrowers, (ii) the Seller Borrowers approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Borrowers agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, Borrowers and (iv) such Mortgage Loan was actually funded by the Seller Borrowers and was purchased by the Seller Borrowers at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the No Mortgage Loan commenced no more than sixty days after funds were disbursed contains terms or provisions which would result in connection with the Mortgage Loannegative amortization. The Mortgage Interest Rate as well asis adjusted, with respect to Adjustable adjustable rate Mortgage Loans, on each Interest Rate Adjustment Date equal to the Index plus the Gross Margin (rounded up or down to the nearest 0.125%), subject to the Mortgage loans, the Lifetime Interest Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable on the first day of each month in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate adjustable rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty 30 years from the commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;.

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, Act or a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause subclause (a), ) of this Subsection 9.02(t) and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments Payments on the Mortgage Loan commenced no more than sixty seventy days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to in the case of an Adjustable Rate Mortgage loansLoan, the Lifetime Rate Cap and the Periodic Cap, Rate Cap and the Periodic Rate Floor are as set forth on the related Mortgage Loan Schedule. The Mortgage Interest Rate is adjusted with respect to Adjustable Rate Mortgage Loans, on each Interest Rate Adjustment Date to equal the Index plus the Gross Margin (rounded up or down to the nearest 0.125%), subject to the Periodic Rate Cap. The Mortgage Note is payable in equal monthly installments of principal (except for Mortgage Loans that provide for a fixed period of interest-only payments at the beginning of their term) and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty forty (40) years from commencement of amortization. With respect to any Mortgage Loan that provides for a fixed period of interest-only payments at the beginning of its term, at the end of such interest-only period, the Monthly Payment will be recalculated so as to require Monthly Payments sufficient to amortize the Mortgage Loan fully by its stated maturity date. Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on the first day of each month. There are no Convertible The Mortgage Loans which contain Loan does not require a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Noteballoon payment on its stated maturity date; and by its original terms or any modification thereof, does not provide for amortization beyond its scheduled maturity date;

Origination; Payment Terms. Either (a) the The Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority. The Seller and all other parties which have had any interest in the Mortgage Loan, whether as mortgagee, assignee, pledgee or otherwise, are (or, during the period in which they held and disposed of such interest, were) (1) in compliance with any and all applicable licensing requirements of the laws of the state wherein the Mortgaged Property is located, and (2) organized under the laws of such state, or (b3) the following requirements have been met qualified to do business in such state, or (4) federal savings and loan associations or national banks having principal offices in such state, or (5) not doing business in such state. Other than with respect to the Interest-Only Mortgage Loan: the Seller meets the requirements set forth in clause (a)Loans, and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal principal payments on the Mortgage Loan commenced no more than sixty (60) days after funds were disbursed in connection with the proceeds of the Mortgage LoanLoan were disbursed. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over Loans have an original term to maturity of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule(30) years, the Mortgage Loan is with interest payable in arrears on the first day of each the month. There are As to each ARM Mortgage Loan, on each applicable Adjustment Date, the Mortgage Interest Rate will be adjusted to equal the sum of the Index plus the applicable Gross Margin, rounded up or down to the nearest multiple of 0.125%; provided, however, that the Mortgage Interest Rate will not increase or decrease by more than the Initial Rate Cap on the first Adjustment Date or the Periodic Rate Cap on any subsequent Adjustment Date, and will in no Convertible event exceed the Lifetime Rate Cap. Each Mortgage Note requires a monthly payment which is sufficient (i) other than with respect to Interest-Only Mortgage Loans which contain a provision allowing and Balloon Loans, during the Mortgagor period prior to convert the first adjustment to the Mortgage Interest Rate, to amortize the original principal balance fully over the original term thereof and to pay interest at the related Mortgage Interest Rate, and (ii) other than with respect to Balloon Loans, during the period following each Adjustment Date in the case of each ARM Mortgage Loan (or following each Interest-Only Adjustment Date in the case of each Interest-Only Mortgage Loan), to amortize the outstanding principal balance fully as of the first day of such period over the then remaining term of such Mortgage Note and to pay interest at the related Mortgage Interest Rate. The Mortgage Note does not permit negative amortization. Interest on the Mortgage Note from an adjustable is calculated on the basis of a 360-day year consisting of twelve 30-day months. No Mortgage Loan is a Convertible Mortgage Loan. None of the Mortgage Loans are simple interest rate Mortgage Note to a fixed interest rate Mortgage Note;Loans.

Origination; Payment Terms. Either (a) At the time the Mortgage Loan was originated by either (a) the originator was a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, or a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar banking institution which is supervised and examined by a federal or state authority, authority or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty seventy days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to in the case of an Adjustable Rate Mortgage loansLoan, the Lifetime Rate Cap and the Periodic Cap, are Rate Cap as set forth on the related Mortgage Loan Schedule. The Unless specified on the related Mortgage Loan Schedule as an interest-only loan or a Balloon Mortgage Loan, the Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty (30) years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on the first day of each month. There are no Convertible The Mortgage Loans which contain Loan does not provide for amortization beyond its scheduled maturity date. The Mortgage Loan does not require a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Noteballoon payment on its stated maturity date;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, authority or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller Responsible Party meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerResponsible Party, using application forms and related credit documents approved by the SellerResponsible Party, (ii) the Seller Responsible Party approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Responsible Party agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the SellerResponsible Party, and (iv) such Mortgage Loan was actually funded by the Seller Responsible Party and was purchased by the Seller Responsible Party at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. No Mortgage Loan contains terms or provisions which would result in negative amortization. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well asRate, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, Mortgage Interest Rate Cap are as set forth on the related Mortgage Loan Schedule hereto (including in the case of Adjustable Rate Mortgage Loans, the interest rate and payment limitations set forth on Mortgage Loan Schedule hereto). All Mortgage Loans have Due Dates on the first day of each month except as specified on the Mortgage Loan Schedule. The Each Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, arrears and is not calculated on a simple interest basis. The monthly principal payments on each Mortgage Loan is sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Each Mortgage Loan is payable on the first day of each month. There are is no Convertible negative amortization allowed in the terms of any Mortgage Note. None of the Mortgage Loans which contain a provision allowing allows for negative amortization or the Mortgagor to convert conversion of the Mortgage Note interest rate thereon from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Noteor from a fixed rate to an adjustable rate;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loansLoans, the Lifetime Rate Cap and the Periodic Cap, Cap are as set forth on Exhibit B to the related Mortgage Loan ScheduleAssignment and Conveyance. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related description of pool characteristics for the applicable Mortgage Loan SchedulePackage delivered pursuant to Section 11 attached as Exhibit B to the related Assignment and Conveyance, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;

Origination; Payment Terms. Either At the time the Mortgage Loan was originated, either (a) the Mortgage Loan originator was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, Act or a savings and loan association, a savings bank, a commercial bank, credit union, insurance company bank or other similar banking institution which is supervised and examined by a federal Federal or state authority, State authority or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documentsNo Mortgage Loan contains terms or provisions which would result in negative amortization. Unless such Mortgage Loan is an Interest Only Loan, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal principal payments on the Mortgage Loan commenced or were scheduled to commence no more than sixty (60) days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well asis adjusted, with respect to Adjustable adjustable rate Mortgage Loans, on each Interest Rate Adjustment Date to equal the applicable index plus the Gross Margin (rounded up or down to the nearest 0.125%), subject to the Maximum Mortgage loansInterest Rate. Unless such Mortgage Loan is an Interest-Only Loan, the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable on the first day of each month in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate adjustable rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan, unless such Mortgage Loan is an Interest-Only Loan, fully by the stated maturity date, over an original term of not more than thirty 30 years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on The due date of the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert payment under the Mortgage Note is no more than sixty (60) days from an adjustable interest rate Mortgage Note to a fixed interest rate the date of the Mortgage Note;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller Responsible Party meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerResponsible Party, using application forms and related credit documents approved by the SellerResponsible Party, (ii) the Seller Responsible Party approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Responsible Party agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the SellerResponsible Party, and (iv) such Mortgage Loan was actually funded by the Seller Responsible Party and was purchased by the Seller Responsible Party at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal No Mortgage Loan contains terms or provisions which would result in negative amortization. Except with respect to Interest Only Mortgage Loans, principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well asRate, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, Mortgage Interest Rate Cap are as set forth on Mortgage Loan Schedule hereto (including in the related case of Adjustable Rate Mortgage Loans, the interest rate and payment limitations set forth on Mortgage Loan Schedule hereto). All Mortgage Loans have Due Dates on the first day of each month except as specified on the Mortgage Loan Schedule. The Each Mortgage Note is payable in equal monthly installments of principal and and/or interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, arrears and is not calculated on a simple interest basis. The monthly principal payments on each Mortgage Loan is sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Each Mortgage Loan is payable on the first day of each month. There are no Convertible convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;.

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller The Originator meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerOriginator, using application forms and related credit documents approved by the SellerOriginator, (ii) the Seller Originator approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Originator agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the SellerOriginator, and (iv) such Mortgage Loan was actually funded by the Seller Originator and was purchased by the Seller Originator at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee Mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: NC Capital Corporation purchased the Seller Mortgage Loan from New Century Mortgage Corporation, its affiliate, that meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerNew Century Mortgage Corporation, using application forms and related credit documents approved by the SellerNew Century Mortgage Corporation, (ii) the Seller New Century Mortgage Corporation approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller New Century Mortgage Corporation agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, New Century Mortgage Corporation and (iv) such Mortgage Loan was actually funded by the Seller New Century Mortgage Corporation and was purchased by the Seller New Century Mortgage Corporation at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty seventy days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, are is as set forth on Mortgage Loan Schedule hereto (including the related interest rate and payment limitations set forth on Mortgage Loan Schedule hereto). All Mortgage Loans have Due Dates on the first day of each month except as specified on the Mortgage Loan Schedule. The Each Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, interest are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, arrears and is not calculated on a simple interest basis. The monthly principal payments on each Mortgage Loan is sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on There is no negative amortization allowed in the related terms of any Mortgage Loan Schedule, Note. None of the Mortgage Loans allows for negative amortization or the conversion of the interest rate thereon from an adjustable rate to a fixed rate or from a fixed rate to an adjustable rate. No Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage NoteBalloon Loan;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets and the Originator meet the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerSeller and the Originator, using application forms and related credit documents approved by the SellerSeller and the Originator, (ii) the Seller and the Originator approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller and the Originator agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the SellerSeller and the Originator, and (iv) such Mortgage Loan was actually funded by the Seller and the Originator and was purchased by the Seller and the Originator at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal No Mortgage Loan contains terms or provisions which would result in negative amortization. Except with respect to IO Mortgage Loans, principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap Cap, the Initial Rate Cape and the Periodic Cap, are as set forth on Exhibit G to the related Master Mortgage Loan SchedulePurchase, Warranties and Interim Servicing Agreement, dated May 1, 2004 (as amended from time to time, the “Master Agreement”), among the Seller, New Century Mortgage Corporation (the “Originator”) and NC Capital. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on ; provided that with respect to IO Mortgage Loans, The Mortgage Note is initially payable in equal monthly installments of interest, with interest calculated and payable in arrears, for such period set forth in the related Mortgage Note and then the Mortgage Note is payable in equal monthly installments of principal and interest, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan Schedulefully by the stated maturity date, over the remaining term of the IO Mortgage Loan. The Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;

Origination; Payment Terms. Either At the time the Mortgage Loan was originated, either (a) the Mortgage Loan originator was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, Act or a savings and loan association, a savings bank, a commercial bank, credit union, insurance company bank or other similar banking institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller Option One meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in all material respects in accordance with standards established by the SellerOption One, using application forms and related credit documents approved by the SellerOption One, (ii) the Seller Option One approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Option One agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the SellerOption One, and (iv) such Mortgage Loan was actually funded by the Seller Option One and was purchased by the Seller Option One at closing of the Mortgage Loan or was not funded by Option One at closing of the Mortgage Loan but was purchased soon thereafter. The To the best of Option One's knowledge, after customary due diligence as would be conducted by prudent originators of mortgage loans similar to the Mortgage Loans, the documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loansLoans, the Lifetime Rate Cap lifetime rate cap and the Periodic Capperiodic cap, are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, except with respect to Balloon Loans, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;

Origination; Payment Terms. Either (a) the The Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements . The Seller and all other parties which have been met with respect to had any interest in the Mortgage Loan: , whether as mortgagee, assignee, pledgee or otherwise, are (or, during the Seller meets period in which they held and disposed of such interest, were) in compliance with any and all applicable “doing business” and licensing requirements of the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by laws of the Seller, using application forms and related credit documents approved by state wherein the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleadingMortgaged Property is located. Principal payments on the Mortgage Loan commenced no more than sixty (60) days after funds were disbursed in connection with the proceeds of the Mortgage LoanLoan were disbursed. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over Loans have an original term to maturity of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Scheduleforty (40) years, the Mortgage Loan is with interest payable in arrears on the first day of each the month. There are As to each ARM Mortgage Loan, on each applicable Adjustment Date, the Mortgage Interest Rate will be adjusted to equal the sum of the Index plus the applicable Gross Margin; provided, however, that the Mortgage Interest Rate will not increase or decrease by more than the Initial Rate Cap on the first Adjustment Date or the Periodic Rate Cap on any subsequent Adjustment Date, and will in no Convertible event exceed the Lifetime Rate Cap. Each Mortgage Loans Note requires a monthly payment which contain a provision allowing is sufficient (i) during the Mortgagor period prior to convert the first adjustment to the Mortgage Interest Rate, to amortize the original principal balance fully over the original term thereof and to pay interest at the related Mortgage Interest Rate, and (ii) during the period following each Adjustment Date in the case of each ARM Mortgage Loan (or following each Interest-Only Adjustment Date in the case of each Interest-Only Mortgage Loan), to amortize the outstanding principal balance fully as of the first day of such period over the then remaining term of such Mortgage Note and to pay interest at the related Mortgage Interest Rate. The Mortgage Note does not permit negative amortization. Interest on the Mortgage Note from an adjustable is calculated on the basis of a 360-day year consisting of twelve 30-day months. No Mortgage Loan is a Convertible Mortgage Loan. None of the Mortgage Loans are simple interest rate Mortgage Note to a fixed interest rate Mortgage Note;Loans.

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller Responsible Party meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerResponsible Party, using application forms and related credit documents approved by the SellerResponsible Party, (ii) the Seller Responsible Party approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Responsible Party agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the SellerResponsible Party, and (iv) such Mortgage Loan was actually funded by the Seller Responsible Party and was purchased by the Seller Responsible Party at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. No Mortgage Loan contains terms or provisions which would result in negative amortization. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well asRate, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, Mortgage Interest Rate Cap are as set forth on Mortgage Loan Schedule hereto (including in the related case of Adjustable Rate Mortgage Loans, the interest rate and payment limitations set forth on Mortgage Loan Schedule hereto). All Mortgage Loans have Due Dates on the first day of each month except as specified on the Mortgage Loan Schedule. The Each Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, arrears and is not calculated on a simple interest basis. The monthly principal payments on each Mortgage Loan is sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Each Mortgage Loan is payable on the first day of each month. There are is no Convertible negative amortization allowed in the terms of any Mortgage Note. None of the Mortgage Loans which contain a provision allowing allows for negative amortization or the Mortgagor to convert conversion of the Mortgage Note interest rate thereon from an adjustable interest rate Mortgage Note to a fixed interest rate or from a fixed rate to an adjustable rate. No Mortgage NoteLoan is a Balloon Loan;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller Aames meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerAames, using application forms and related credit documents approved by the SellerXxxxs, (ii) the Seller Aames approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Aames agreed to fund such Mortgage Loan, (iii) the closing documents for such fox xxxh Mortgage Loan were prepared on forms approved by the SellerAames, and (iv) such Mortgage Loan was actually funded by the Seller Aames and was purchased xxxxhased by the Seller Aames at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loansLoans, the Lifetime Rate Cap and the Periodic Rate Cap, are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related description of pool characteristics for the applicable Mortgage Loan SchedulePackage delivered pursuant to the Aames Purchase Agreement, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller Aames meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerAames, using application forms and related credit documents approved by the SellerAames, (ii) the Seller Aames approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Aames agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the SellerAames, and (iv) such Mortgage Loan was actually funded by the Seller Aames and was purchased by the Seller Aames at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. [The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loansLoans, the Lifetime Rate Cap and the Periodic Cap, Rate Cap are as set forth on the related Mortgage Loan Schedule]. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related description of pool characteristics for the applicable Mortgage Loan SchedulePackage delivered pursuant to the Aames Purchase Agreement, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: NC Capital Corporation purchased the Seller Mortgage Loan from New Century Mortgage Corporation, its affiliate, that meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerNew Century Mortgage Corporation, using application forms and related credit documents approved by the SellerNew Century Mortgage Corporation, (ii) the Seller New Century Mortgage Corporation approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller New Century Mortgage Corporation agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, New Century Mortgage Corporation and (iv) such Mortgage Loan was actually funded by the Seller New Century Mortgage Corporation and was purchased by the Seller New Century Mortgage Corporation at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, are is as set forth on Mortgage Loan Schedule hereto (including in the related case of Adjustable Rate Mortgage Loans, the interest rate and payment limitations set forth on Mortgage Loan Schedule hereto) All Mortgage Loans have Due Dates on the first day of each month except as specified on the Mortgage Loan Schedule. The Each Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, arrears and is not calculated on a simple interest basis. The monthly principal payments on each Mortgage Loan is sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on There is no negative amortization allowed in the related terms of any Mortgage Loan Schedule, Note. None of the Mortgage Loans allows for negative amortization or the conversion of the interest rate thereon from an adjustable rate to a fixed rate or from a fixed rate to an adjustable rate. No Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage NoteBalloon Loan;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller Responsible Party meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerResponsible Party, using application forms and related credit documents approved by the SellerResponsible Party, (ii) the Seller Responsible Party approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Responsible Party agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the SellerResponsible Party, and (iv) such Mortgage Loan was actually funded by the Seller Responsible Party and was purchased by the Seller Responsible Party at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal No Mortgage Loan contains terms or provisions which would result in negative amortization. Except with respect to interest only Mortgage Loans, principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well asadjusts on each Adjustment Date to the sum of either the One-Month LIBOR Index or the Six-Month LIBOR Index plus the applicable Gross Margin, with respect subject to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Mortgage Interest Rate Cap. The Mortgage Interest Rate, Lifetime Rate Cap and Periodic Mortgage Interest Rate Cap are as set forth on the related Mortgage Loan Schedule hereto (including the interest rate and payment limitations set forth on Mortgage Loan Schedule hereto). All Mortgage Loans have Due Dates on the first day of each month except as specified on the Mortgage Loan Schedule. The Each Mortgage Note is payable in equal monthly installments of principal and and/or interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, arrears and is not calculated on a simple interest basis. The monthly principal payments on each Mortgage Loan is sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Each Mortgage Loan is payable on the first day of each month. There are no Convertible convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development HUD pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller Company meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerCompany, using application forms and related credit documents approved by the SellerCompany, (ii) the Seller Company approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Company agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the SellerCompany, and (iv) such Mortgage Loan was actually funded by the Seller Company and was purchased by the Seller Company at closing or soon thereafter. The To the best of the Company's knowledge, after reasonable inquiry, the documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty days two months after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan ScheduleExhibit I hereto. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, except with respect to balloon Mortgage Loans sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Scheduledescription of pool characteristics attached as Exhibit I hereto, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage NoteLoans;

Origination; Payment Terms. Either (a) Except with respect to a Correspondent Mortgage Loan, the Mortgage Loan was originated by Seller. Seller is a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. No Mortgage Loan contains terms or provisions which would result in negative amortization. Principal payments on the Mortgage Loan that is not a Gxxxxx Mxx Modified Loan commenced no more than sixty (60) days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate mortgage interest rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap lifetime rate cap and the Periodic Cap, periodic cap are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate adjustable rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate mortgage interest rate on each Interest Rate Adjustment Dateinterest rate adjustment date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty (30) years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedulespecified, the Mortgage Loan is payable on the first (1st) day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;.

Origination; Payment Terms. Either (a) At the time the Mortgage Loan was originated by originated, the originator was a (i) mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. No Mortgage Loan contains terms or provisions which would result in negative amortization. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap and the Periodic Rate Cap, are as set forth on the related Mortgage Loan ScheduleExhibit I hereto. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Scheduledescription of pool characteristics attached as Exhibit I hereto, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documentsNo Mortgage Loan contains terms or provisions which would result in negative amortization. Unless such Mortgage Loan is an Interest-Only Loan, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal principal payments on the Mortgage Loan commenced no more than sixty 60 days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well asis adjusted, with respect to Adjustable adjustable rate Mortgage Loans, on each Interest Rate Adjustment Date to equal the Index plus the Gross Margin (rounded up or down to the nearest 0.125%), subject to the Mortgage loansInterest Rate Cap. Unless such Mortgage Loan is an Interest-Only Loan, for which monthly payments include interest only and not principal until maturity, the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable on the first day of each month in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate adjustable rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan, unless such Mortgage Loan is an Interest-Only Loan, fully by the stated maturity date, over an original term of not more than thirty 30 years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on The due date of the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert payment under the Mortgage Note is no more than 60 days from an adjustable interest rate Mortgage Note to a fixed interest rate the date of the Mortgage Note;

Origination; Payment Terms. Either (a) At the time the Mortgage Loan was originated by originated, the originator was a (i) mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, Act or a savings and loan association, a savings bank, a commercial bank, credit union, insurance company bank or other similar banking institution which is supervised and examined by a federal Federal or state State authority, or (bii) a correspondent mortgage banker or broker licensed or authorized to do business in the following requirements have been met with respect to jurisdiction in which the related Mortgaged Property is located, applying the same standards and procedures used by the Responsible Party in originating Mortgage Loans directly. The Responsible Party determined that the Mortgage Loan: Loans were originated in compliance with such standards prior to purchasing the Seller meets Mortgage Loans. To the requirements set forth in clause (a)best of the Responsible Party's knowledge, and (i) such Mortgage Loan was underwritten in accordance with standards established by after reasonable inquiry, the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty days two months after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, except with respect to balloon Mortgage Loans sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage NoteLoans;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee Mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: NC Capital Corporation purchased the Seller Mortgage Loan from New Century Mortgage Corporation, its affiliate, that meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerNew Century Mortgage Corporation, using application forms and related credit documents approved by the SellerNew Century Mortgage Corporation, (ii) the Seller New Century Mortgage Corporation approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller New Century Mortgage Corporation agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, New Century Mortgage Corporation and (iv) such Mortgage Loan was actually funded by the Seller New Century Mortgage Corporation and was purchased by the Seller New Century Mortgage Corporation at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty seventy days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, are is as set forth on Mortgage Loan Schedule hereto (including in the related case of Adjustable Rate Mortgage Loans, the interest rate and payment limitations set forth on Mortgage Loan Schedule hereto). All Mortgage Loans have Due Dates on the first day of each month except as specified on the Mortgage Loan Schedule. The Each Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, arrears and is not calculated on a simple interest basis. The monthly principal payments on each Mortgage Loan is sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on There is no negative amortization allowed in the related terms of any Mortgage Loan Schedule, Note. None of the Mortgage Loans allows for negative amortization or the conversion of the interest rate thereon from an adjustable rate to a fixed rate or from a fixed rate to an adjustable rate. No Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage NoteBalloon Loan;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: [___________] purchased the Seller Mortgage Loan from [____________], its affiliate, that meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller[MORTGAGEE], using application forms and related credit documents approved by the Seller[MORTGAGEE], (ii) the Seller [MORTGAGEE] approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller [MORTGAGEE] agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, [MORTGAGEE] and (iv) such Mortgage Loan was actually funded by the Seller [MORTGAGEE] and was purchased by the Seller [MORTGAGEE] at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, are is as set forth on Mortgage Loan Schedule hereto (including in the related case of Adjustable Rate Mortgage Loans, the interest rate and payment limitations set forth on Mortgage Loan Schedule hereto). All Mortgage Loans have Due Dates on the first day of each month except as specified on the Mortgage Loan Schedule. The Each Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, arrears and is not calculated on a simple interest basis. The monthly principal payments on each Mortgage Loan is sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on There is no negative amortization allowed in the related terms of any Mortgage Loan Schedule, Note. None of the Mortgage Loans allows for negative amortization or the conversion of the interest rate thereon from an adjustable rate to a fixed rate or from a fixed rate to an adjustable rate. No Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage NoteBalloon Loan;

Origination; Payment Terms. Either (a) Except with respect to a Correspondent Mortgage Loan, the Mortgage Loan was originated by or in conjunction with Seller. Seller is a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 203, 211 or 184 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. No Mortgage Loan contains terms or provisions which would result in negative amortization. Principal payments on the a Mortgage Loan that is not a Xxxxxx Mae Modified Loan commenced no more than sixty (60) days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate mortgage interest rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap lifetime rate cap and the Periodic Cap, periodic cap are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate adjustable rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate mortgage interest rate on each Interest Rate Adjustment Dateinterest rate adjustment date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty (30) years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedulespecified, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;. (qq) Construction or Rehabilitation of Mortgaged Property. Other than with respect to [***] or any other specific Mortgage Loan acceptable to Buyer in writing, no Mortgage Loan was made in connection with the construction or rehabilitation of a Mortgaged Property or facilitating the trade in or exchange of a Mortgaged Property.

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller Responsible Party meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerResponsible Party, using application forms and related credit documents approved by the SellerResponsible Party, (ii) the Seller Responsible Party approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Responsible Party agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the SellerResponsible Party, and (iv) such Mortgage Loan was actually funded by the Seller Responsible Party and was purchased by the Seller Responsible Party at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. No Mortgage Loan contains terms or provisions which would result in negative amortization. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well asRate, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, Mortgage Interest Rate Cap are as set forth on Mortgage Loan Schedule hereto (including in the related case of Adjustable Rate Mortgage Loans, the interest rate and payment limitations set forth on Mortgage Loan Schedule hereto). All Mortgage Loans have Due Dates on the first day of each month except as specified on the Mortgage Loan Schedule. The Each Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, arrears and is not calculated on a simple interest basis. The monthly principal payments on each Mortgage Loan is sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Each Mortgage Loan is payable on the first day of each month. There are no Convertible convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;.

Origination; Payment Terms. Either (a) the NC Capital Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the NC Capital Mortgage Loan: the Seller Responsible Party meets the requirements set forth in clause (a), and (i) such NC Capital Mortgage Loan was underwritten in accordance with standards established by the SellerResponsible Party, using application forms and related credit documents approved by the SellerResponsible Party, (ii) the Seller Responsible Party approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Responsible Party agreed to fund such NC Capital Mortgage Loan, (iii) the closing documents for such NC Capital Mortgage Loan were prepared on forms approved by the SellerResponsible Party, and (iv) such NC Capital Mortgage Loan was actually funded by the Seller Responsible Party and was purchased by the Seller Responsible Party at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal No NC Capital Mortgage Loan contains terms or provisions which would result in negative amortization. Except with respect to Interest Only NC Capital Mortgage Loans, principal payments on the NC Capital Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the NC Capital Mortgage Loan. The Mortgage Interest Rate as well asRate, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, Mortgage Interest Rate Cap are as set forth on NC Capital Mortgage Loan Schedule hereto (including in the related case of Adjustable Rate NC Capital Mortgage Loans, the interest rate and payment limitations set forth on NC Capital Mortgage Loan Schedule hereto). All NC Capital Mortgage Loans have Due Dates on the first day of each month except as specified on the NC Capital Mortgage Loan Schedule. The Each Mortgage Note is payable in equal monthly installments of principal and and/or interest, which installments of interest, with respect to Adjustable Rate NC Capital Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, arrears and is not calculated on a simple interest basis. The monthly principal payments on each NC Capital Mortgage Loan is sufficient to amortize the NC Capital Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Each NC Capital Mortgage Loan is payable on the first day of each month. There are no Convertible convertible NC Capital Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;.

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, authority or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller Option One meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerOption One, using application forms and related credit documents approved by the SellerOption One, (ii) the Seller Option One approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Option One agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the SellerOption One, and (iv) such Mortgage Loan was actually funded by the Seller Option One and was purchased by the Seller Option One at closing or soon thereafter. The To the best of Option One's knowledge, after reasonable inquiry, the documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty days two months after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well asRate, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, Mortgage Interest Rate Cap are as set forth on the related Mortgage Loan Schedule hereto (including in the case of Adjustable Rate Mortgage Loans, the interest rate and payment limitations set forth on Mortgage Loan Schedule hereto). All Mortgage Loans have Due Dates on the first day of each month except as specified on the Mortgage Loan Schedule. The Each Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, except with respect to Balloon Loans, is sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, None of the Mortgage Loan is payable on Loans allows for the first day conversion of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note interest rate thereon from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Noteor from a fixed rate to an adjustable rate;

Origination; Payment Terms. Either (a) the Mortgage Loan -------------------------- was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, authority or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller Mortgage Loan meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerBorrower, using application forms and related credit documents approved by the SellerBorrower, (ii) the Seller Borrower approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Borrower agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, Borrower and (iv) such Mortgage Loan was actually funded by the Seller Borrower and was purchased by the Seller Borrower at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the No Mortgage Loan commenced no more than sixty days after funds were disbursed contains terms or provisions which would result in connection with the Mortgage Loannegative amortization . The Mortgage Interest Rate as well asis adjusted, with respect to Adjustable adjustable rate Mortgage Loans, on each Interest Rate Adjustment Date equal to the Index plus the Gross Margin (rounded up or down to the nearest 0.125%), subject to the Mortgage loans, the Lifetime Interest Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable on the first day of each month in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate adjustable rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty 30 years from the commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;.

Origination; Payment Terms. Either (a) the The Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. No Mortgage Loan contains terms or provisions which would result in negative amortization. Principal payments on the Mortgage Loan (other than a Mortgage Loan that does not provide for payment of principal for a period of twenty-four to thirty-six months after the date of origination (such Mortgage Loan, an "Interest Only Mortgage Loan")) commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap and the Periodic Cap, Mortgage Interest Rate Cap are as set forth on the related Mortgage Loan Schedule. The With respect to any Mortgage Loan other than an Interest Only Mortgage Loan, the Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Mortgage Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;from

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller Responsible Party meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerResponsible Party, using application forms and related credit documents approved by the SellerResponsible Party, (ii) the Seller Responsible Party approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Responsible Party agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the SellerResponsible Party, and (iv) such Mortgage Loan was actually funded by the Seller Responsible Party and was purchased by the Seller Responsible Party at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. No Mortgage Loan contains terms or provisions which would result in negative amortization. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, are is as set forth on Mortgage Loan Schedule hereto. All Mortgage Loans have Due Dates on the related first day of each month except as specified on the Mortgage Loan Schedule. The Each Mortgage Note is payable in equal monthly installments of principal and and/or interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, arrears and is not calculated on a simple interest basis. The monthly principal payments on each Mortgage Loan is sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Each Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;.

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller Responsible Party meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerResponsible Party, using application forms and related credit documents approved by the SellerResponsible Party, (ii) the Seller Responsible Party approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Responsible Party agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the SellerResponsible Party, and (iv) such Mortgage Loan was actually funded by the Seller Responsible Party and was purchased by the Seller Responsible Party at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal No Mortgage Loan contains terms or provisions which would result in negative amortization. Except with respect to interest only Mortgage Loans, principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well asadjusts on each Adjustment Date to the sum of the Six-Month LIBOR Index plus the applicable Gross Margin, with respect subject to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Mortgage Interest Rate Cap. The Mortgage Interest Rate, Lifetime Rate Cap and Periodic Mortgage Interest Rate Cap are as set forth on the related Mortgage Loan Schedule hereto (including the interest rate and payment limitations set forth on Mortgage Loan Schedule hereto). All Mortgage Loans have Due Dates on the first day of each month except as specified on the Mortgage Loan Schedule. The Each Mortgage Note is payable in equal monthly installments of principal and and/or interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, arrears and is not calculated on a simple interest basis. The monthly principal payments on each Mortgage Loan is sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Each Mortgage Loan is payable on the first day of each month. There are no Convertible convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;

Origination; Payment Terms. Either (ai) the Mortgage Loan was originated by a mortgagee Mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (bii) the following requirements have been met with respect to the Mortgage Loan: the Seller Responsible Party meets the requirements set forth in clause (ai), and (iA) such Mortgage Loan was underwritten in accordance with standards established by the SellerResponsible Party, using application forms and related credit documents approved by the SellerResponsible Party, (iiB) the Seller Responsible Party approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Responsible Party agreed to fund such Mortgage Loan, (iiiC) the closing documents for such Mortgage Loan were prepared on forms approved by the SellerResponsible Party, and (ivD) such Mortgage Loan was actually funded by the Seller Responsible Party and was purchased by the Seller Responsible Party at closing or soon thereafter. The To the best of the Responsible Party's knowledge, after customary due diligence as would be conducted by prudent originators of mortgage loans similar to the Mortgage Loans, the documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate Rate, as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap and the Periodic Cap, are is as set forth on in the related Mortgage Loan ScheduleData Tape Information. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, except with respect to Balloon Mortgage Loans sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on in the related Mortgage Loan ScheduleData Tape Information, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;.

Origination; Payment Terms. Either At the time the Mortgage Loan was originated, either (a) the Mortgage Loan originator was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, Act or a savings and loan association, a savings bank, a commercial bank, credit union, insurance company bank or other similar banking institution which is supervised and examined by a federal Federal or state authority, State authority or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty seventy days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to in the case of an Adjustable Rate Mortgage loansLoan, the Lifetime Rate Cap and the Periodic Cap, Cap are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable in equal monthly installments of principal (except for Mortgage Loans that provide for a fixed period of interest-only payments at the beginning of their term) and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty (30) years from commencement of amortization. With respect to any Mortgage Loan that provides for a fixed period of interest-only payments at the beginning of its term, at the end of such interest-only period, the Monthly Payment will be recalculated so as to require Monthly Payments sufficient to amortize the Mortgage Loan fully by its stated maturity date. Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on the first day of each month. There are no Convertible Except for Balloon Mortgage Loans which contain a provision allowing the Mortgagor to convert Loans, the Mortgage Note from an adjustable interest rate Mortgage Note to Loan does not require a fixed interest rate Mortgage Noteballoon payment on its stated maturity date;

Origination; Payment Terms. Either (a) the The Mortgage Loan was (A) originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, authority or (bB) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (aA), and (i) the Mortgage Loan was originated by a correspondent and such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by or acceptable to the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by or acceptable to the Seller, Seller and (iviii) such the Mortgage Loan was actually funded acquired by the Seller and was purchased by from the correspondent at closing in accordance with a pre-existing relationship between the Seller at closing or soon thereafterand the correspondent. The documentsSeller and all other parties which have had any interest in the Mortgage Loan, instruments whether as mortgagee, assignee, pledgee or otherwise, are (or, during the period in which they held and agreements submitted for loan underwriting were not falsified disposed of such interest, were) in compliance with any and contain no untrue statement all applicable “doing business” and licensing requirements of material fact or omit to the laws of the state a material fact required to be stated therein or necessary to make wherein the information and statements therein not misleadingMortgaged Property is located. Principal payments on the Mortgage Loan commenced no more than sixty (60) days after funds the proceeds of the Mortgage Loan were disbursed disbursed. Unless otherwise agreed by the parties, the Mortgage Loans have an original term to maturity of not more than forty (40) years, with interest payable in connection with arrears on the first day of the month. As to each ARM Mortgage Loan, on each applicable Adjustment Date, the Mortgage Interest Rate will be adjusted to equal the sum of the Index plus the applicable Gross Margin, rounded up or down to the nearest multiple of 0.125%; provided, however, that the Mortgage Interest Rate will not increase or decrease by more than the Initial Rate Cap on the first Adjustment Date or the Periodic Rate Cap on any subsequent Adjustment Date, and will in no event exceed the Lifetime Rate Cap. With respect to each Mortgage Loan other than the Interest Only Mortgage Loans, each Mortgage Note requires a monthly payment which is sufficient (i) during the period prior to the first adjustment to the Mortgage Interest Rate, to amortize the original principal balance fully over the original term thereof and to pay interest at the related Mortgage Interest Rate, and (ii) during the period following each Adjustment Date, to amortize the outstanding principal balance fully as of the first day of such period over the then remaining term of such Mortgage Note and to pay interest at the related Mortgage Interest Rate. With respect to each Mortgage Loan identified on the Mortgage Loan Schedule as an Interest-Only Mortgage Loan, the interest-only period shall not exceed ten (10) years (or such other period specified on the Mortgage Loan Schedule) and following the expiration of such interest-only period, the remaining Monthly Payments shall be sufficient to fully amortize the original principal balance over the remaining term of the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan ScheduleNote does not permit negative amortization. The Mortgage Each Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears. Except for Mortgage Loans identified as Interest Only Mortgage Loans on the Mortgage Loan Schedule, the Monthly Payments are sufficient to amortize the Mortgage Loan fully by the maturity date stated maturity datein the Note, over an original a remaining term of not more than thirty years from commencement of amortizationforty (40) years. Unless otherwise specified Interest on each Mortgage Loan is calculated and payable in arrears. Except as set forth on the related Mortgage Loan Schedule, the no Mortgage Loan is payable on the first day of each month. There are no a Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert Loan. None of the Mortgage Note from an adjustable Loans are simple interest rate Mortgage Note to a fixed interest rate Mortgage Note;Loans.

Origination; Payment Terms. Either (a) the The Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 21 1 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements . The Seller and all other parties which have been met with respect to had any interest in the Mortgage Loan: , whether as mortgagee, assignee, pledgee or otherwise, are (or, during the Seller meets period in which they held and disposed of such interest, were) in compliance with any and all applicable "doing business" and licensing requirements of the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by laws of the Seller, using application forms and related credit documents approved by state wherein the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleadingMortgaged Property is located. Principal payments on the Mortgage Loan commenced no more than sixty (60) days after funds were disbursed in connection with the proceeds of the Mortgage LoanLoan were disbursed. The Mortgage Loans have an original term to maturity of not more than thirty (30) years, with interest payable in arrears on the first day of the month. As to each ARM Mortgage Loan, on each applicable Adjustment Date, the Mortgage Interest Rate as well aswill be adjusted to equal the sum of the Index plus the applicable Gross Margin, with respect rounded up or down to Adjustable the nearest multiple of 0.125%; provided, however, that the Mortgage Interest Rate Mortgage loanswill not increase or decrease by more than the Initial Rate Cap on the first Adjustment Date or the Periodic Rate Cap on any subsequent Adjustment Date, and will in no event exceed the Lifetime Rate Cap Cap. Each Mortgage Note requires a monthly payment which is sufficient (i) during the period prior to the first adjustment to the Mortgage Interest Rate, to amortize the original principal balance fully over the original term thereof and the Periodic Cap, are as set forth on to pay interest at the related Mortgage Loan ScheduleInterest Rate, and (ii) during the period following each Adjustment Date, to amortize the outstanding principal balance fully as of the first day of such period over the then remaining term of such Mortgage Note and to pay interest at the related Mortgage Interest Rate. The Mortgage Note does not permit negative amortization. Each Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, . The Monthly Payments are sufficient to amortize the Mortgage Loan fully by the maturity date stated maturity datein the Note, over an original a remaining term of not more than thirty years from commencement (30) years, within a tolerance of amortizationone hundred dollars ($100). Unless otherwise specified Purchaser shall be entitled to the remedies set out in this Sale Agreement for breach of representation or warranty as if the forgoing representation and warranty shall have been given without any reference to a tolerance. Interest on the related Mortgage Loan Schedule, the each Mortgage Loan is calculated and payable on the first day of each monthin arrears. There are no No Mortgage Loan is a Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert Loan. None of the Mortgage Note from an adjustable Loans are simple interest rate Mortgage Note to a fixed interest rate Mortgage Note;Loans.

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, authority or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller Mortgage Loan meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerBorrowers, using application forms and related credit documents approved by the SellerBorrowers, (ii) the Seller Borrowers approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Borrowers agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, Borrowers and (iv) such Mortgage Loan was actually funded by the Seller Borrowers and was purchased by the Seller Borrowers at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the No Mortgage Loan commenced no more than sixty days after funds were disbursed contains terms or provisions which would result in connection with the Mortgage Loannegative amortization. The Mortgage Interest Rate as well asis adjusted, with respect to Adjustable adjustable rate Mortgage Loans, on each Interest Rate Adjustment Date equal to the Index plus the Gross Margin (rounded up or down to the nearest 0.125%), subject to the Mortgage loans, the Lifetime Interest Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable on the first day of each month in equal monthly installments of principal and interest (except if the related Mortgage Loan is an interest-only loan, no installments of principal shall be payable during the interest-only period), which installments of interest, with respect to Adjustable Rate adjustable rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty 30 years from the commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;.

Origination; Payment Terms. Either (a) Except with respect to a Correspondent Mortgage Loan, the Mortgage Loan was originated by Seller. Seller is a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. No Mortgage Loan contains terms or provisions which would result in negative amortization. Principal payments on the Mortgage Loan that is not a Xxxxxx Xxx Modified Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate mortgage interest rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap lifetime rate cap and the Periodic Cap, periodic cap are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate adjustable rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate mortgage interest rate on each Interest Rate Adjustment Dateinterest rate adjustment date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedulespecified, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;.

Origination; Payment Terms. Either (a) Unless otherwise indicated on the Mortgage Loan Schedule, the Mortgage Loan was originated by Seller. Seller is a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority. To the best of Seller’s knowledge, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal Other than with respect to HECM Loans, no Mortgage Loan contains terms or provisions which would result in negative amortization. Other than with respect to HECM Loans, principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate mortgage interest rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap lifetime rate cap and the Periodic Cap, periodic cap are as set forth on the related Mortgage Loan Schedule. The Other than with respect to HECM Loans, the Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate adjustable rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate mortgage interest rate on each Interest Rate Adjustment Dateinterest rate adjustment date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Scheduleand other than with respect to HECM Loans, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;.

Origination; Payment Terms. Either (a) the The Mortgage Loan was originated by or in conjunction with a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar banking institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well asis adjusted, with respect to Adjustable adjustable rate Mortgage Loans, on each Interest Rate Adjustment Date to equal the Index plus the Gross Margin (rounded up or down to the nearest 0.125%), subject to the Mortgage loans, the Lifetime Interest Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable on the first day of each month in equal monthly installments of principal and interest, which installments of and/or interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with installments of interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, date (and such Mortgage Loan shall at no time prior to the stated maturity date be subject to any negative amortization) over an original term of not more than thirty (30) years from the commencement of amortization, except (i) with respect to installments of interest related to adjustable rate Mortgage Loans and Interest-Only Mortgage Loans, which are subject to change due to adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date or Interest Only Adjustment Date, as applicable, and (ii) with respect to “30/40” Mortgage Loans, the Mortgage Note is payable in equal monthly installments of principal and interest based upon a 40-year amortization schedule with a “balloon” payment due on the stated maturity date, which is not more than thirty (30) years after commencement of amortization. Unless otherwise specified on Except with respect to Interest-Only Mortgage Loans the related Mortgage Loan Schedule, the Mortgage Loan is payable on due date of the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert principal payment under the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate is no more than sixty (60) calendar days after the date of the Mortgage Note;.”

Origination; Payment Terms. Either (a) the The Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty (60) days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate Rate, as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap and the Periodic CapRate Cap if the Mortgage Loan is an ARM Loan, are as set forth on the related Mortgage Loan ScheduleExhibit J and/or Exhibit K hereto. The Mortgage Note is payable on the first day of each month in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, interest are subject to change if the Mortgage Loan is an ARM Loan due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related There is no negative amortization with respect to any Mortgage Loan. Each Convertible Mortgage Loan Schedule, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain contains a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note in accordance with the terms of the Mortgage Note or a rider to the related Mortgage Note;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller Accredited meets the requirements set forth in clause (a), ) and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerAccredited, using application forms and related credit documents approved by the SellerAccredited, (ii) the Seller Accredited approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Accredited agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the SellerAccredited, and (iv) such Mortgage Loan was actually funded by the Seller Accredited and was purchased by the Seller Accredited at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced are required to commence no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Except with respect to a "balloon" Mortgage Loan, the Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on the first day of each month. There are no Convertible convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;

Origination; Payment Terms. Either At the time the Mortgage Loan was originated, either (a) the Mortgage Loan originator was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, Act or a savings and loan association, a savings bank, a commercial bank, credit union, insurance company bank or other similar banking institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller Responsible Party meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in all material respects in accordance with standards established by the SellerResponsible Party, using application forms and related credit documents approved by the SellerResponsible Party, (ii) the Seller Responsible Party approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Responsible Party agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the SellerResponsible Party, and (iv) such Mortgage Loan was actually funded by the Seller Responsible Party and was purchased by the Seller Responsible Party at closing of the Mortgage Loan or was not funded by the Responsible Party at closing of the Mortgage Loan but was purchased soon thereafter. The To the best of the Responsible Party's knowledge, after customary due diligence as would be conducted by prudent originators of mortgage loans similar to the Mortgage Loans, the documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap lifetime rate cap and the Periodic Capperiodic cap, are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, except with respect to Balloon Loans sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller The Responsible Party meets the requirements set forth in clause (a), ) and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerResponsible Party, using application forms and related credit documents approved by the SellerResponsible Party, (ii) the Seller Responsible Party approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Responsible Party agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the SellerResponsible Party, and (iv) such Mortgage Loan was actually funded by the Seller Responsible Party and was purchased by the Seller Responsible Party at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced are required to commence no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Except with respect to a "balloon" Mortgage Loan, the Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee Mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller Aames Capital Corporation meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerAames Capital Corporation, using application forms and related credit documents approved by the SellerAames Capital Corporation, (ii) the Seller Aames Capital Corporation approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Aames Capital Corporation agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the SellerAames Capital Corporation, and (iv) such Mortgage Loan was actually funded by the Seller Aames Capital Corporation and was purchased by the Seller Aames Capital Corporation at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, are is as set forth on Mortgage Loan Schedule hereto (including the related interest rate and payment limitations set forth on Mortgage Loan Schedule hereto). All Mortgage Loans have Due Dates on the first day of each month except as specified on the Mortgage Loan Schedule. The Each Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, interest are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, arrears and is not calculated on a simple interest basis. The monthly principal payments on each Mortgage Loan is sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on There is no negative amortization allowed in the related terms of any Mortgage Loan Schedule, Note. None of the Mortgage Loans allows for negative amortization or the conversion of the interest rate thereon from an adjustable rate to a fixed rate or from a fixed rate to an adjustable rate. No Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage NoteBalloon Loan;

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related The Mortgage Loan Schedule, the Mortgage Loan is may be payable on a day other than the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;

Origination; Payment Terms. Either (a) the The Mortgage Loan was originated by Seller, which is a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections Paragraphs 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority or duly licensed by state licensing authority, if applicable. Seller and all other parties which have had any interest in the Mortgage Loan, whether as mortgagee, assignee, pledgee or otherwise, are (or, during the period in which they held and disposed of such interest, were) (1) in compliance in all material respects with any and all applicable licensing requirements of the laws of the state wherein the Mortgaged Property is located, and (2) organized under the laws of such state, or (b3) the following requirements have been met with respect qualified to the Mortgage Loan: the Seller meets the requirements set forth do business in clause such state, or (a)4) federal savings and loan associations or national banks having principal offices in such state, and or (i5) not doing business in such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleadingstate. Principal payments on the Mortgage Loan commenced or will commence no more than sixty (60) days after funds the proceeds of the Mortgage Loan were disbursed disbursed. The Mortgage Loan requires interest payable in connection with arrears on the first day of the month. Each Mortgage Note requires a monthly payment which is sufficient (i) during the period prior to the first adjustment to the Mortgage interest rate, to amortize the original principal balance fully over the original term thereof (unless otherwise provided in the Takeout Guidelines) and to pay interest at the related Mortgage interest rate, and (ii) during the period following each interest rate adjustment date in the case of each adjustable rate Mortgage Loan, to amortize the outstanding principal balance fully as of the first day of such period over the then remaining term of such Mortgage Note and to pay interest at the related Mortgage interest rate. The Mortgage Note does not permit negative amortization. Interest on the Mortgage Note is calculated on the basis of a 360 day year consisting of twelve 30 day months. The Mortgage Loan is not a simple Exhibit B-4 interest Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, Loan does not require a balloon payment upon the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedulematurity thereof. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments does not by its terms provide for the capitalization or forbearance of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;.

Origination; Payment Terms. Either (a) At the Mortgage time the Loan was originated by originated, the originator was a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, Act or a savings and loan association, a savings bank, a commercial bank, credit union, insurance company bank or other similar banking institution which is supervised and examined by a federal Federal or state State authority, or . Except for an Option ARM Loan (b) the following requirements have been met with respect to the Mortgage Loan: extent permitted under the Seller meets the requirements set forth in clause (aPricing Side Letter), and no Loan is a Negative Amortization Loan. Except for an Interest-Only Loan or Option ARM Loan (i) such Mortgage Loan was underwritten in accordance with standards established by each to the Sellerextent permitted under the Pricing Side Letter), using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal principal payments on the Mortgage Loan commenced no more than sixty (60) days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well asis adjusted, with respect to Adjustable Rate adjustable rate Loans, on each Adjustment Date to equal the applicable Index plus the Gross Margin (rounded up or down to the nearest 0.125%), subject to the Maximum Mortgage loansInterest Rate. Except for an Interest-Only Loan or Option ARM Loan (each to the extent permitted under the Pricing Side Letter), the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable on the first day of each month in equal monthly installments of principal and interest, which installments of interest, with respect to an Adjustable Rate Mortgage LoansLoan, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty (30) years from commencement of amortization. Unless otherwise The Due Date of the first payment under the Note is no more than sixty (60) days from the date of the Note. With respect to each Interest-Only Loan, the interest-only period shall not exceed the period specified on the related Mortgage Loan ScheduleSchedule and following the expiration of such interest-only period, the Mortgage remaining Monthly Payments shall be sufficient to fully amortize the original principal balance over the remaining term of the Loan. With respect to an Option ARM Loan (to the extent permitted under the Pricing Side Letter), the related Note requires a Monthly Payment which is payable on sufficient during the period following each Payment Adjustment Date, to fully amortize the outstanding principal balance as of the first day of each month. There are no Convertible such period (including any Negative Amortization) over the then remaining term of such Note and to pay interest at the related Mortgage Loans Interest Rate; provided that the Monthly Payment shall not increase to an amount that exceeds 107.5% of the amount of the Monthly Payment that was due immediately prior to the Payment Adjustment Date; provided, further, that the payment adjustment cap shall not be applicable with respect to the adjustment made to the Monthly Payment that occurs in a year in which contain the Loan has been outstanding for a provision allowing multiple of five (5) years and in any such year the Mortgagor Monthly Payment shall be adjusted to convert fully amortize the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;Loan over the remaining term.

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee Mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller New Century meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the SellerNew Century, using application forms and related credit documents approved by the SellerNew Century, (ii) the Seller New Century approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller New Century agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, New Century and (iv) such Mortgage Loan was actually funded by the Seller New Century and was purchased by the Seller New Century at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, the Lifetime Rate Cap and the Periodic Cap, are is as set forth on Mortgage Loan Schedule hereto (including in the related case of Adjustable Rate Mortgage Loans, the interest rate and payment limitations set forth on Mortgage Loan Schedule hereto). All Mortgage Loans have Due Dates on the first day of each month except as specified on the Mortgage Loan Schedule. The Each Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, arrears and is not calculated on a simple interest basis. The monthly principal payments on each Mortgage Loan is sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on There is no negative amortization allowed in the related terms of any Mortgage Loan Schedule, Note. None of the Mortgage Loans allows for negative amortization or the conversion of the interest rate thereon from an adjustable rate to a fixed rate or from a fixed rate to an adjustable rate. No Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage NoteBalloon Loan;

Origination; Payment Terms. Either Except as set forth on the Mortgage Loan Schedule, either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact No Mortgage Loan contains terms or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleadingprovisions which would result in negative amortization. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan ScheduleExhibit I hereto. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan Scheduledescription of pool characteristics attached as Exhibit G hereto, the Mortgage Loan is payable on the first day of each monthmonth (subject to a grace period set forth in the related Mortgage Note). There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;; (u)

Origination; Payment Terms. Either (a) the Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in accordance with standards established by the Seller, using application forms and related credit documents approved by the Seller, (ii) the Seller approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the Seller, and (iv) such Mortgage Loan was actually funded by the Seller and was purchased by the Seller at closing or soon thereafter. The documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal No Mortgage Loan contains terms or provisions which would result in negative amortization other than an Option ARM Mortgage Loan. Except with respect to Interest Only Mortgage Loans, principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Except with respect to Interest Only Mortgage Loans and Option ARM Mortgage Loans, the Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. With respect to Adjustable Rate Mortgage Loans, such installments of interest are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date. Unless otherwise specified on the related Mortgage Loan Scheduledescription of pool characteristics attached as Exhibit I hereto, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note. No Mortgage Loan is a balloon mortgage loan that has an original stated maturity of less than seven (7) years;

Origination; Payment Terms. Either At the time the Mortgage Loan was originated, either (a) the Mortgage Loan originator was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, Act or a savings and loan association, a savings bank, a commercial bank, credit union, insurance company bank or other similar banking institution which is supervised and examined by a federal or state authority, or (b) the following requirements have been met with respect to the Mortgage Loan: the Seller Company meets the requirements set forth in clause (a), and (i) such Mortgage Loan was underwritten in all material respects in accordance with standards established by the SellerCompany, using application forms and related credit documents approved by the SellerCompany, (ii) the Seller Company approved each application and the related credit documents before a commitment by the correspondent was issued, and no such commitment was issued until the Seller Company agreed to fund such Mortgage Loan, (iii) the closing documents for such Mortgage Loan were prepared on forms approved by the SellerCompany, and (iv) such Mortgage Loan was actually funded by the Seller Company and was purchased by the Seller Company at closing or was not funded by the Company at closing but was purchased soon thereafter. The To the best of the Company's knowledge, after customary due diligence as would be conducted by prudent originators of mortgage loans similar to the Mortgage Loans, the documents, instruments and agreements submitted for loan underwriting were not falsified and contain no untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the information and statements therein not misleading. Principal payments on the Mortgage Loan commenced no more than sixty days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, with respect to Adjustable Rate Mortgage loans, as the Lifetime Rate Cap and the Periodic Cap, are as set forth on the related Mortgage Loan Schedule. The Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, except with respect to balloon Mortgage Loans sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization. Unless otherwise specified on the related Mortgage Loan ScheduleSchedule attached as Exhibit A to the Assignment and Conveyance Agreement, the Mortgage Loan is payable on the first day of each month. There are no Convertible Mortgage Loans which contain a provision allowing the Mortgagor to convert the Mortgage Note from an adjustable interest rate Mortgage Note to a fixed interest rate Mortgage Note;