Common use of Remittance Reports; P&I Advances Clause in Contracts

Remittance Reports; P&I Advances. (a) On the Business Day following each Determination Date, each Servicer shall deliver to the Trust Administrator, the Trustee and the Certificate Insurer by telecopy (or by such other means as such Servicer, the Trust Administrator, the Trustee or the Certificate Insurer, as the case may be, may agree from time to time) a Remittance Report with respect to the related Distribution Date. On the same date, the related Servicer shall forward to the Trust Administrator by overnight mail or internet mail an electronic file containing the information set forth in such Remittance Report with respect to the related Distribution Date. The Trust Administrator hereby agrees to forward a copy of the Remittance Report received from Option One in electronic format to the Master Servicer by the Business Day following its receipt thereof. Such Remittance Reports will include (i) the amount of P&I Advances to be made by the related Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable P&I Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator may reasonably require to perform the calculations necessary to make the distributions contemplated by Section 4.01 and to prepare the statements to Certificateholders contemplated by Section 4.02. Not later than the close of business on the third Business Day prior to the Distribution Date, the Trust Administrator shall deliver or cause to be delivered to the Certificate Insurer, in addition to the information provided on the Remittance Report, a report setting forth (i) the Guaranteed Distribution for such Distribution Date, separately identifying the portions thereof allocable to principal and interest; (ii) the Available Distribution Amount for such Distribution Date; (iii) whether the Available Distribution Amount expected to be on deposit in the Distribution Account on such Distribution Date will be sufficient to cover the Guaranteed Distribution and, if not, the amount of the shortfall; (iv) with respect to any reimbursement to be made to the Certificate Insurer on such Distribution Date pursuant to Section 4.01(a)(2)(iv), the amount, if any, allocable to principal and the amount allocable to interest; and (v) Cumulative Insurance Payments after giving effect to the distributions to be made on such Distribution Date. The Trust Administrator shall not be responsible (except with regard to any information regarding the Prepayment Charges to the extent set forth below) to recompute, recalculate or verify any information provided to it by the Servicers. Notwithstanding the foregoing, in connection with any Principal Prepayment on any Mortgage Loan listed on Schedule 2 hereto, the Trust Administrator shall verify that the related Prepayment Charge was delivered to the Trust Administrator for deposit in the Distribution Account in the amount set forth on such Schedule 2 or that such Prepayment Charge was waived in accordance with the terms hereof.

Remittance Reports; P&I Advances. (a) On the Business Day following each Determination Master Servicer Remittance Date, each the Master Servicer shall deliver to the Trust Administrator, the Trustee and the Certificate Insurer by telecopy (or by such other means as such Servicer, the Trust Administrator, Master Servicer and the Trustee or the Certificate Insurer, as the case may be, may agree from time to time) a Remittance Report with respect to the related Distribution Date. On the same date, the related Servicer shall forward to the Trust Administrator by overnight mail or internet mail an electronic file containing the information set forth in such Such Remittance Report with respect to the related Distribution Date. The Trust Administrator hereby agrees to forward a copy of the Remittance Report received from Option One in electronic format to the Master Servicer by the Business Day following its receipt thereof. Such Remittance Reports will include (i) the amount of P&I Advances to be made by the related Master Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable P&I Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator Trustee may reasonably require to perform the calculations necessary to make the distributions contemplated by Section 4.01 and to prepare the statements to Certificateholders contemplated by Section 4.02. Not later than the close of business on the third Business Day prior to the Distribution Date, the Trust Administrator shall deliver or cause to be delivered to the Certificate Insurer, in addition to the information provided on the Remittance Report, a report setting forth (i) the Guaranteed Distribution for such Distribution Date, separately identifying the portions thereof allocable to principal and interest; (ii) the Available Distribution Amount for such Distribution Date; (iii) whether the Available Distribution Amount expected to be on deposit in the Distribution Account on such Distribution Date will be sufficient to cover the Guaranteed Distribution and, if not, the amount of the shortfall; (iv) with respect to any reimbursement to be made to the Certificate Insurer on such Distribution Date pursuant to Section 4.01(a)(2)(iv), the amount, if any, allocable to principal and the amount allocable to interest; and (v) Cumulative Insurance Payments after giving effect to the distributions to be made on such Distribution Date. The Trust Administrator Trustee shall not be responsible (except with regard to any information regarding the Prepayment Charges to the extent set forth below) to recompute, recalculate or verify any information provided to it by the ServicersMaster Servicer. Notwithstanding the foregoing, in connection with any Principal Prepayment on any Mortgage Loan listed on Schedule 2 heretoOn or prior to each Master Servicer Remittance Date, the Trust Administrator Master Servicer shall verify provide in an electronic format acceptable to the Trustee the data necessary for the Trustee to perform its verification duties set forth in this Section 4.03(a). The Trustee or a third party reasonably acceptable to the Trustee and the Depositor (the "Verification Agent") will perform such verification duties and will use its best efforts to issue its findings in a report (the "Verification Report") within ten (10) Business Days following the Master Servicer Remittance Date; provided, however, that if the Verification Agent is unable to issue the Verification Report within ten (10) Business Days following the Master Servicer Remittance Date, the Verification Agent may issue the Verification Report upon the completion of its verification duties. The Trustee shall forward the Verification Report to the Master Servicer and shall notify the Master Servicer if the Trustee has determined that the related Master Servicer did not deliver the appropriate Prepayment Charge was delivered Charges to the Trust Administrator for deposit in the Distribution Account in the amount set forth on such Schedule 2 or that such Prepayment Charge was waived Trustee in accordance with Section 3.10 and Schedule 2 hereof. Such written notification from the terms Trustee shall include the loan number, prepayment penalty code and prepayment penalty amount as calculated by the Trustee or the Verification Agent, as applicable, of each Mortgage Loan for which there is a discrepancy. If the Master Servicer agrees with the verified amounts, the Master Servicer shall adjust the immediately succeeding Remittance Report and the amount remitted to the Trustee with respect to prepayments accordingly. If the Master Servicer disagrees with the determination of the Trustee, the Master Servicer shall, within five (5) Business Days of its receipt of the Verification Report, notify the Trustee of such disagreement and provide the Trustee with detailed information to support the Master Servicer's position. The Master Servicer and the Trustee shall cooperate to resolve any discrepancy on or prior to the immediately succeeding Master Servicer Remittance Date, and the Master Servicer will indicate the effect of such resolution on the related Remittance Report and shall adjust the amount remitted with respect to prepayments on such Master Servicer Remittance Date accordingly. During such time as the Master Servicer and the Trustee are resolving discrepancies with respect to the Prepayment Charges, no payments in respect of any disputed Prepayment Charges will be remitted to the Collection Account and the Trustee shall not be obligated to remit such payments, unless otherwise required pursuant to Section 7.02 hereof. In connection with such duties, the Trustee shall be able to rely solely on the information provided to it by the Master Servicer and any Verification Agent in accordance with this Section. The Trustee shall not be responsible for verifying the accuracy of any of the information provided to it by the Master Servicer or the Verification Agent. The costs of such verification, whether performed by the Trustee or any third party on behalf of the Trustee, shall be paid by the Trustee. Anything to the contrary herein notwithstanding, the verification procedures set forth in this Section shall not be performed after the securities relating to any resecuritization of the Class P Certificates have been paid in full.

Remittance Reports; P&I Advances. (a) On the Business Day following each Determination Date, each the Master Servicer shall deliver to the Trust Administrator, Administrator and the Trustee and the Certificate Insurer by telecopy (or by such other means as such the Master Servicer, the Trust Administrator, the Trustee Administrator or the Certificate InsurerTrustee, as the case may be, may agree from time to time) a Remittance Report with respect to the related Distribution Date. On the same date, the related Master Servicer shall forward to the Trust Administrator by overnight mail or internet mail an electronic file a computer readable magnetic tape containing the information set forth in such Remittance Report with respect to the related Distribution Date. The Trust Administrator hereby agrees to forward a copy of the Such Remittance Report received from Option One in electronic format to the Master Servicer by the Business Day following its receipt thereof. Such Remittance Reports will include (i) the amount of P&I Advances to be made by the related Master Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable P&I Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator may reasonably require to perform the calculations necessary to make the distributions contemplated by Section 4.01 and to prepare the statements to Certificateholders contemplated by Section 4.02. Not later than the close of business on the third Business Day prior to the Distribution Date, the Trust Administrator shall deliver or cause to be delivered to the Certificate Insurer, in addition to the information provided on the Remittance Report, a report setting forth (i) the Guaranteed Distribution for such Distribution Date, separately identifying the portions thereof allocable to principal and interest; (ii) the Available Distribution Amount for such Distribution Date; (iii) whether the Available Distribution Amount expected to be on deposit in the Distribution Account on such Distribution Date will be sufficient to cover the Guaranteed Distribution and, if not, the amount of the shortfall; (iv) with respect to any reimbursement to be made to the Certificate Insurer on such Distribution Date pursuant to Section 4.01(a)(2)(iv), the amount, if any, allocable to principal and the amount allocable to interest; and (v) Cumulative Insurance Payments after giving effect to the distributions to be made on such Distribution Date. The Trust Administrator shall not be responsible (except with regard to any information regarding the Prepayment Charges to the extent set forth below) to recompute, recalculate or verify any information provided to it by the ServicersMaster Servicer. Notwithstanding the foregoing, in connection with any Principal Prepayment on any Mortgage Loan listed on Schedule 2 hereto, the Trust Administrator shall verify that the related Prepayment Charge was delivered to the Trust Administrator for deposit in the Distribution Account in the amount set forth on such Schedule 2 or that such Prepayment Charge was waived in accordance with the terms hereof.

Remittance Reports; P&I Advances. (a) On the Business Day following each Determination Date, each the Master Servicer shall deliver to the Trust Administrator, the Trustee and the Certificate Insurer by telecopy (or by such other means as such the Master Servicer, the Trust Administrator, the Trustee or the Certificate Insurer, as the case may be, may agree from time to time) a Remittance Report with respect to the related Distribution Date. On the same date, the related Master Servicer shall forward to the Trust Administrator Trustee by overnight mail or internet mail an electronic file a computer readable magnetic tape containing the information set forth in such Remittance Report with respect to the related Distribution Date. The Trust Administrator hereby agrees to forward a copy of the Such Remittance Report received from Option One in electronic format to the Master Servicer by the Business Day following its receipt thereof. Such Remittance Reports will include (i) the amount of P&I Advances to be made by the related Master Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable P&I Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator Trustee may reasonably require to perform the calculations necessary to make the distributions contemplated by Section 4.01 and to prepare the statements to Certificateholders contemplated by Section 4.02. Not later than the close of business on the third Business Day prior to the Distribution Date, the Trust Administrator Trustee shall deliver or cause to be delivered to the Certificate Insurer, in addition to the information provided on the Remittance Report, a report setting forth (i) the Guaranteed Distribution for such Distribution Date, separately identifying the portions thereof allocable to principal and interest; (ii) the Available Distribution Amount for such Distribution Date; (iii) whether the Available Distribution Amount expected to be on deposit in the Distribution Account on such Distribution Date will be sufficient to cover the Guaranteed Distribution and, if not, the amount of the shortfall; (iv) with respect to any reimbursement to be made to the Certificate Insurer on such Distribution Date pursuant to Section 4.01(a)(2)(iv), the amount, if any, allocable to principal and the amount allocable to interest; and (v) Cumulative Insurance Payments after giving effect to the distributions to be made on such Distribution Date. The Trust Administrator Trustee shall not be responsible (except with regard to any information regarding the Prepayment Charges to the extent set forth below) to recompute, recalculate or verify any information provided to it by the Servicers. Notwithstanding the foregoing, in connection with any Principal Prepayment on any Mortgage Loan listed on Schedule 2 hereto, the Trust Administrator shall verify that the related Prepayment Charge was delivered to the Trust Administrator for deposit in the Distribution Account in the amount set forth on such Schedule 2 or that such Prepayment Charge was waived in accordance with the terms hereofMaster Servicer.

Remittance Reports; P&I Advances. (a) On the Business Day following each Determination Date, each the Master Servicer shall deliver to the Trust Administrator, the Trustee and the Certificate Insurer by telecopy (or by such other means as such Servicer, the Trust Administrator, Master Servicer and the Trustee or the Certificate Insurer, as the case may be, may agree from time to time) a Remittance Report with respect to the related Distribution Date. On the same date, the related Servicer shall forward to the Trust Administrator by overnight mail or internet mail an electronic file containing the information set forth in such Such Remittance Report with respect to the related Distribution Date. The Trust Administrator hereby agrees to forward a copy of the Remittance Report received from Option One in electronic format to the Master Servicer by the Business Day following its receipt thereof. Such Remittance Reports will include (i) the amount of P&I Advances to be made by the related Master Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable P&I Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator Trustee may reasonably require to perform the calculations necessary to make the distributions contemplated by Section 4.01 and to prepare the statements to Certificateholders contemplated by Section 4.02. Not later than the close of business New York time on the third second Business Day prior to following the Distribution Master Servicer Remittance Date, the Trust Administrator Trustee shall deliver or cause to be delivered to the Certificate Insurer, in addition to the information provided on the Remittance Report, a report setting forth (i) the Guaranteed Distribution for such Distribution Date, separately identifying the portions thereof allocable to principal and interest; (ii) the Available Distribution Amount for such Distribution Date; (iii) whether the Available Distribution Amount expected to be on deposit in the Distribution Account on such Distribution Date will be sufficient to cover the Guaranteed Distribution and, if not, the amount of the shortfall; (iv) with respect to any reimbursement to be made to the Certificate Insurer on such Distribution Date pursuant to Section 4.01(a)(2)(iv), the amount, if any, allocable to principal and the amount allocable to interest; and (v) Cumulative Insurance Payments after giving effect to the distributions to be made on such Distribution Date. The Trust Administrator Trustee shall not be responsible (except with regard to any information regarding the Prepayment Charges to the extent set forth below) to recompute, recalculate or verify any information provided to it by the Servicers. Notwithstanding the foregoing, in connection with any Principal Prepayment on any Mortgage Loan listed on Schedule 2 hereto, the Trust Administrator shall verify that the related Prepayment Charge was delivered to the Trust Administrator for deposit in the Distribution Account in the amount set forth on such Schedule 2 or that such Prepayment Charge was waived in accordance with the terms hereofMaster Servicer.

Remittance Reports; P&I Advances. (a) On the Business Day following each Determination Date, each Servicer shall deliver to the Trust Administrator, the Trustee and the Certificate Insurer by telecopy (or by such other means as such Servicer, the Trust Administrator, the Trustee or the Certificate Insurer, as the case may be, may agree from time to time) a Remittance Report with respect to the related Distribution Date. On the same date, the related Servicer shall forward to the Trust Administrator by overnight mail or internet mail an electronic file containing the information set forth in such Remittance Report with respect to the related Distribution Date. The Trust Administrator hereby agrees to forward a copy of the Remittance Report received from Option One from________ in electronic format to the Master Servicer by the Business Day following its receipt thereof. Such Remittance Reports will include (i) the amount of P&I Advances to be made by the related Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable P&I Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator may reasonably require to perform the calculations necessary to make the distributions contemplated by Section 4.01 and to prepare the statements to Certificateholders contemplated by Section 4.02. Not later than the close of business on the third Business Day prior to the Distribution Date, the Trust Administrator shall deliver or cause to be delivered to the Certificate Insurer, in addition to the information provided on the Remittance Report, a report setting forth (i) the Guaranteed Distribution for such Distribution Date, separately identifying the portions thereof allocable to principal and interest; (ii) the Available Distribution Amount for such Distribution Date; (iii) whether the Available Distribution Amount expected to be on deposit in the Distribution Account on such Distribution Date will be sufficient to cover the Guaranteed Distribution and, if not, the amount of the shortfall; (iv) with respect to any reimbursement to be made to the Certificate Insurer on such Distribution Date pursuant to Section 4.01(a)(2)(iv), the amount, if any, allocable to principal and the amount allocable to interest; and (v) Cumulative Insurance Payments after giving effect to the distributions to be made on such Distribution Date. The Trust Administrator shall not be responsible (except with regard to any information regarding the Prepayment Charges to the extent set forth below) to recompute, recalculate or verify any information provided to it by the Servicers. Notwithstanding the foregoing, in connection with any Principal Prepayment on any Mortgage Loan listed on Schedule 2 hereto, the Trust Administrator shall verify that the related Prepayment Charge was delivered to the Trust Administrator for deposit in the Distribution Account in the amount set forth on such Schedule 2 or that such Prepayment Charge was waived in accordance with the terms hereof.

Remittance Reports; P&I Advances. (a) On the tenth day of each calendar month, the Master Servicer shall deliver to the Trustee in an electronic format acceptable to the Trustee, information with respect to each Mortgage Loan as is mutually agreed upon between the Master Servicer and the Trustee. On the Business Day following each Determination Date, each the Master Servicer shall deliver to the Trust Administrator, the Trustee and the Certificate Insurer by telecopy (or by such other means as such Servicer, the Trust Administrator, the Trustee Master Servicer or the Certificate InsurerTrustee, as the case may be, may agree from time to time) a Remittance Report with respect to the related Distribution Date. On the same date, the related Master Servicer shall forward to the Trust Administrator Trustee by overnight mail a computer readable magnetic tape or internet mail an electronic electronically transmit (in a format acceptable to the Trustee) on the day thereafter, a data file containing the information set forth in such Remittance Report with respect to the related Distribution Date. The Trust Administrator hereby agrees to forward a copy of the Such Remittance Report received from Option One in electronic format to the Master Servicer by the Business Day following its receipt thereof. Such Remittance Reports will include (i) the amount of P&I Advances to be made by the related Master Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable P&I Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator Trustee may reasonably require to perform the calculations necessary to make the distributions contemplated by Section 4.01 and to prepare the statements to Certificateholders contemplated by Section 4.02. Not later than the close of business on the third Business Day prior to the Distribution Date, the Trust Administrator shall deliver or cause to be delivered to the Certificate Insurer, in addition to the information provided on the Remittance Report, a report setting forth (i) the Guaranteed Distribution for such Distribution Date, separately identifying the portions thereof allocable to principal and interest; (ii) the Available Distribution Amount for such Distribution Date; (iii) whether the Available Distribution Amount expected to be on deposit in the Distribution Account on such Distribution Date will be sufficient to cover the Guaranteed Distribution and, if not, the amount of the shortfall; (iv) with respect to any reimbursement to be made to the Certificate Insurer on such Distribution Date pursuant to Section 4.01(a)(2)(iv), the amount, if any, allocable to principal and the amount allocable to interest; and (v) Cumulative Insurance Payments after giving effect to the distributions to be made on such Distribution Date. The Trust Administrator Trustee shall not be responsible (except with regard to any information regarding the Prepayment Charges to the extent set forth below) to recompute, recalculate or verify any information provided to it by the ServicersMaster Servicer. Notwithstanding the foregoing, in connection with any Principal Prepayment on any Mortgage Loan listed on Schedule 2 hereto, the Trust Administrator Trustee shall verify that the related Prepayment Charge was delivered to the Trust Administrator Trustee for deposit in the Distribution Account in the amount set forth on such Schedule 2 or that such Prepayment Charge was waived in accordance with the terms hereof.

Remittance Reports; P&I Advances. (a) On the Business Day following each Determination Date, each the Master Servicer shall deliver to the Trust Administrator, the Trustee and the Certificate Insurer by telecopy (or by such other means as such Servicer, the Trust Administrator, Master Servicer and the Trustee or the Certificate Insurer, as the case may be, may agree from time to time) a Remittance Report with respect to the related Distribution Date. On the same date, the related Servicer shall forward to the Trust Administrator by overnight mail or internet mail an electronic file containing the information set forth in such Such Remittance Report with respect to the related Distribution Date. The Trust Administrator hereby agrees to forward a copy of the Remittance Report received from Option One in electronic format to the Master Servicer by the Business Day following its receipt thereof. Such Remittance Reports will include (i) the amount of P&I Advances to be made by the related Master Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable P&I Xxxxxxxxxxxxxx X&X Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator Trustee may reasonably require to perform the calculations necessary to make the distributions contemplated by Section 4.01 and to prepare the statements to Certificateholders contemplated by Section 4.02. Not later than the close of business New York time on the third second Business Day prior to following the Distribution Master Servicer Remittance Date, the Trust Administrator Trustee shall deliver or cause to be delivered to the Certificate Insurer, in addition to the information provided on the Remittance Report, a report setting forth (i) the Guaranteed Distribution for such Distribution Date, separately identifying the portions thereof allocable to principal and interest; (ii) the Available Distribution Amount for such Distribution Date; (iii) whether the Available Distribution Amount expected to be on deposit in the Distribution Account on Deficiency Amount, if any, for such Distribution Date will be sufficient to cover the Guaranteed Distribution and, if not, the amount of the shortfallDate; (iv) with respect to any reimbursement to be made to the Certificate Insurer on such Distribution Date pursuant to Section 4.01(a)(2)(iv)4.01(a) FIFTH, the amount, if any, allocable to principal and the amount allocable to interest; and (v) Cumulative Insurance Payments the amount of any Certificate Insurer Reimbursement Amount that will remain unpaid and outstanding after giving effect to the distributions to be made on such Distribution Date. The Trust Administrator Trustee shall not be responsible (except with regard to any information regarding the Prepayment Charges to the extent set forth below) to recompute, recalculate or verify any information provided to it by the Servicers. Notwithstanding the foregoing, in connection with any Principal Prepayment on any Mortgage Loan listed on Schedule 2 hereto, the Trust Administrator shall verify that the related Prepayment Charge was delivered to the Trust Administrator for deposit in the Distribution Account in the amount set forth on such Schedule 2 or that such Prepayment Charge was waived in accordance with the terms hereofMaster Servicer.

Remittance Reports; P&I Advances. (a) On the Business Day following each Determination Master Servicer Reporting Date, each the Master Servicer shall deliver to the Trust Administrator, the Trustee and the Certificate Insurer by telecopy (or by such other means as such Servicer, the Trust Administrator, Master Servicer and the Trustee or the Certificate Insurer, as the case may be, may agree from time to time) a Remittance Report with respect to the related Distribution Date. On the same date, the related Servicer shall forward to the Trust Administrator by overnight mail or internet mail an electronic file containing the information set forth in such Such Remittance Report with respect to the related Distribution Date. The Trust Administrator hereby agrees to forward a copy of the Remittance Report received from Option One in electronic format to the Master Servicer by the Business Day following its receipt thereof. Such Remittance Reports will include (i) the amount of P&I Advances to be made by the related Master Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable P&I Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator Trustee may reasonably require to perform the calculations necessary to make the distributions contemplated by Section 4.01 and to prepare the statements to Certificateholders contemplated by Section 4.02. Not later than the close of business on the third Business Day prior to the Distribution Date, the Trust Administrator shall deliver or cause to be delivered to the Certificate Insurer, in addition to the information provided on the Remittance Report, a report setting forth (i) the Guaranteed Distribution for such Distribution Date, separately identifying the portions thereof allocable to principal and interest; (ii) the Available Distribution Amount for such Distribution Date; (iii) whether the Available Distribution Amount expected to be on deposit in the Distribution Account on such Distribution Date will be sufficient to cover the Guaranteed Distribution and, if not, the amount of the shortfall; (iv) with respect to any reimbursement to be made to the Certificate Insurer on such Distribution Date pursuant to Section 4.01(a)(2)(iv), the amount, if any, allocable to principal and the amount allocable to interest; and (v) Cumulative Insurance Payments after giving effect to the distributions to be made on such Distribution Date. The Trust Administrator Trustee shall not be responsible (except with regard to any information regarding the Prepayment Charges to the extent set forth below) to recompute, recalculate or verify any information provided to it by the ServicersMaster Servicer. Notwithstanding the foregoing, in connection with any Principal Prepayment on any Mortgage Loan listed on Schedule 2 heretoOn or prior to each Master Servicer Reporting Date, the Trust Administrator Master Servicer shall verify provide in an electronic format acceptable to the Trustee the data necessary for the Trustee to perform its verification duties set forth in this Section 4.03(a). The Trustee or a third party reasonably acceptable to the Trustee and the Depositor (the "Verification Agent") will perform such verification duties and will use its best efforts to issue its findings in a report (the "Verification Report") within ten (10) Business Days following the Master Servicer Reporting Date; provided, however, that if the Verification Agent is unable to issue the Verification Report within ten (10) Business Days following the Master Servicer Reporting Date, the Verification Agent may issue the Verification Report upon the completion of its verification duties. The Trustee shall forward the Verification Report to the Master Servicer and shall notify the Master Servicer if the Trustee has determined that the related Master Servicer did not deliver the appropriate Prepayment Charge was delivered Charges to the Trust Administrator for deposit in the Distribution Account in the amount set forth on such Schedule 2 or that such Prepayment Charge was waived Trustee in accordance with Section 3.10 and Schedule 2 hereof. Such written notification from the terms Trustee shall include the loan number, prepayment penalty code and prepayment penalty amount as calculated by the Trustee or the Verification Agent, as applicable, of each Mortgage Loan for which there is a discrepancy. If the Master Servicer agrees with the verified amounts, the Master Servicer shall adjust the immediately succeeding Remittance Report and the amount remitted to the Trustee with respect to prepayments accordingly. If the Master Servicer disagrees with the determination of the Trustee, the Master Servicer shall, within five (5) Business Days of its receipt of the Verification Report, notify the Trustee of such disagreement and provide the Trustee with detailed information to support the Master Servicer's position. The Master Servicer and the Trustee shall cooperate to resolve any discrepancy on or prior to the immediately succeeding Master Servicer Remittance Date, and the Master Servicer will indicate the effect of such resolution on the related Remittance Report and shall adjust the amount remitted with respect to prepayments on such Master Servicer Remittance Date accordingly. During such time as the Master Servicer and the Trustee are resolving discrepancies with respect to the Prepayment Charges, no payments in respect of any disputed Prepayment Charges will be remitted to the Collection Account and the Trustee shall not be obligated to remit such payments, unless otherwise required pursuant to Section 7.02 hereof. In connection with such duties, the Trustee shall be able to rely solely on the information provided to it by the Master Servicer and any Verification Agent in accordance with this Section. The Trustee shall not be responsible for verifying the accuracy of any of the information provided to it by the Master Servicer or the Verification Agent. The costs of such verification, whether performed by the Trustee or any third party on behalf of the Trustee, shall be paid by the Trustee. Anything to the contrary herein notwithstanding, the verification procedures set forth in this Section shall not be performed after the earlier to occur of (i) the July 2005 Distribution Date or (ii) the securities relating to any resecuritization of the Class P Certificates have been paid in full.

Remittance Reports; P&I Advances. (a) On the Business Day following each Determination Date, each the Master Servicer shall deliver to the Trust Administrator, the Trustee and the Certificate Insurer by telecopy (or by such other means as such Servicer, the Trust Administrator, Master Servicer and the Trustee or the Certificate Insurer, as the case may be, may agree from time to time) a Remittance Report with respect to the related Distribution Date. On the same date, the related Servicer shall forward to the Trust Administrator by overnight mail or internet mail an electronic file containing the information set forth in such Such Remittance Report with respect to the related Distribution Date. The Trust Administrator hereby agrees to forward a copy of the Remittance Report received from Option One in electronic format to the Master Servicer by the Business Day following its receipt thereof. Such Remittance Reports will include (i) the amount of P&I Advances to be made by the related Master Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable P&I Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator Trustee may reasonably require to perform the calculations necessary to make the distributions contemplated by Section 4.01 and to prepare the statements to Certificateholders contemplated by Section 4.02. Not later than the close of business New York time on the third second Business Day prior to following the Distribution Master Servicer Remittance Date, the Trust Administrator Trustee shall deliver or cause to be delivered to the Certificate Insurer, in addition to the information provided on the Remittance Report, a report setting forth (i) the Guaranteed Distribution for such Distribution Date, separately identifying the portions thereof allocable to principal and interest; (ii) the Available Distribution Amount for such Distribution Date; (iii) whether the Available Distribution Amount expected to be on deposit in the Distribution Account on such Distribution Date will be sufficient to cover the Guaranteed Distribution and, if not, the amount of the shortfall; (iv) with respect to any reimbursement to be made to the Certificate Insurer on such Distribution Date pursuant to Section 4.01(a)(2)(iv4.01(a)(iv), the amount, if any, allocable to principal and the amount allocable to interest; and (v) Cumulative Insurance Payments after giving effect to the distributions to be made on such Distribution Date. The Trust Administrator Trustee shall not be responsible (except with regard to any information regarding the Prepayment Charges to the extent set forth below) to recompute, recalculate or verify any information provided to it by the Servicers. Notwithstanding the foregoing, in connection with any Principal Prepayment on any Mortgage Loan listed on Schedule 2 hereto, the Trust Administrator shall verify that the related Prepayment Charge was delivered to the Trust Administrator for deposit in the Distribution Account in the amount set forth on such Schedule 2 or that such Prepayment Charge was waived in accordance with the terms hereofMaster Servicer.

Remittance Reports; P&I Advances. (a) On the Business Day following each Determination Date, each the Master Servicer shall deliver to the Trust Administrator, the Trustee and the Certificate Insurer by telecopy (or by such other means as such the Master Servicer, the Trust Administrator, the Trustee or the Certificate Insurer, as the case may be, may agree from time to time) a Remittance Report with respect to the related Distribution Date. On the same date, the related Master Servicer shall forward to the Trust Administrator by overnight mail or internet mail an electronic file a computer readable magnetic tape containing the information set forth in such Remittance Report with respect to the related Distribution Date. The Trust Administrator hereby agrees to forward a copy of the Such Remittance Report received from Option One in electronic format to the Master Servicer by the Business Day following its receipt thereof. Such Remittance Reports will include (i) the amount of P&I Advances to be made by the related Master Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable P&I Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator may reasonably require to perform the calculations necessary to make the distributions contemplated by Section 4.01 and to prepare the statements to Certificateholders contemplated by Section 4.02. Not later than the close of business on the third Business Day prior to the Distribution Date, the Trust Administrator shall deliver or cause to be delivered to the Certificate Insurer, in addition to the information provided on the Remittance Report, a report setting forth (i) the Guaranteed Distribution for such Distribution Date, separately identifying the portions thereof allocable to principal and interest; (ii) the Available Distribution Amount for such Distribution Date; (iii) whether the Available Distribution Amount expected to be on deposit in the Distribution Account on such Distribution Date will be sufficient to cover the Guaranteed Distribution and, if not, the amount of the shortfall; (iv) with respect to any reimbursement to be made to the Certificate Insurer on such Distribution Date pursuant to Section 4.01(a)(2)(iv), the amount, if any, allocable to principal and the amount allocable to interest; and (v) Cumulative Insurance Payments after giving effect to the distributions to be made on such Distribution Date. The Trust Administrator shall not be responsible (except with regard to any information regarding the Prepayment Charges to the extent set forth below) to recompute, recalculate or verify any information provided to it by the ServicersMaster Servicer. Notwithstanding the foregoing, in connection with any Principal Prepayment on any Mortgage Loan listed on Schedule 2 hereto, the Trust Administrator shall verify that the related Prepayment Charge was delivered to the Trust Administrator for deposit in the Distribution Account in the amount set forth on such Schedule 2 or that such Prepayment Charge was waived in accordance with the terms hereof.

Remittance Reports; P&I Advances. (a) On Prior to 10:00 a.m. Pacific time on the Business Day following each Determination Date, each the Master Servicer shall deliver to the Trust Administrator, the Trustee and the Certificate Insurer by telecopy (or by such other means as such Servicer, the Trust Administrator, the Trustee or the Certificate Insurer, as the case may be, may agree from time to time) a Remittance Report with respect to the related Distribution Date. On the same date, the related Servicer Date and shall forward deliver to the Trust Administrator by overnight mail or internet mail an electronic file Trustee a computer readable magnetic tape containing the information set forth in such Remittance Report with respect to the related such Distribution Date. The Trust Administrator hereby agrees to forward a copy of the Such Remittance Report received from Option One in electronic format to the Master Servicer by the Business Day following its receipt thereof. Such Remittance Reports will include (i) the amount of P&I Advances to be made by the related Master Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable P&I Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator Trustee may reasonably require to perform the calculations necessary to make the distributions contemplated by Section 4.01 and to prepare the statements to Certificateholders contemplated by Section 4.02. Not later than the close of business New York time on the third Business Day prior to following the Distribution Determination Date, the Trust Administrator Trustee shall deliver or cause to be delivered to the Certificate Insurer, in addition to the information provided on the Remittance Report, a report setting forth (i) the Guaranteed Distribution for such Distribution Date, separately identifying the portions thereof allocable to principal and interest; (ii) the Available Distribution Amount for such Distribution Date; (iii) whether the Available Distribution Amount expected to be on deposit in the Distribution Account on such Distribution Date will be sufficient to cover the Guaranteed Distribution and, if not, the amount of the shortfall; (iv) with respect to any reimbursement to be made to the Certificate Insurer on such Distribution Date pursuant to Section 4.01(a)(2)(iv4.01(a)(v), the amount, if any, allocable to principal and the amount allocable to interest; and (v) Cumulative Insurance Payments after giving effect to the distributions to be made on such Distribution Date. The Trust Administrator Trustee shall not be responsible (except with regard to any information regarding the Prepayment Charges to the extent set forth below) to recompute, recalculate or verify any information provided to it by the Servicers. Notwithstanding the foregoing, in connection with any Principal Prepayment on any Mortgage Loan listed on Schedule 2 hereto, the Trust Administrator shall verify that the related Prepayment Charge was delivered to the Trust Administrator for deposit in the Distribution Account in the amount set forth on such Schedule 2 or that such Prepayment Charge was waived in accordance with the terms hereofMaster Servicer.

Remittance Reports; P&I Advances. (a) On the Business Day following each Determination Master Servicer Remittance Date, each the Master Servicer shall deliver to the Trust Administrator, the Trustee and the Certificate Insurer by telecopy (or by such other means as such Servicer, the Trust Administrator, Master Servicer and the Trustee or the Certificate Insurer, as the case may be, may agree from time to time) a Remittance Report with respect to the related Distribution Date. On the same date, the related Servicer shall forward to the Trust Administrator by overnight mail or internet mail an electronic file containing the information set forth in such Such Remittance Report with respect to the related Distribution Date. The Trust Administrator hereby agrees to forward a copy of the Remittance Report received from Option One in electronic format to the Master Servicer by the Business Day following its receipt thereof. Such Remittance Reports will include (i) the amount of P&I Advances to be made by the related Master Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable P&I Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator Trustee may reasonably require to perform the calculations necessary to make the distributions contemplated by Section 4.01 and to prepare the statements to Certificateholders contemplated by Section 4.02. Not later than the close of business on the third Business Day prior to the Distribution Date, the Trust Administrator shall deliver or cause to be delivered to the Certificate Insurer, in addition to the information provided on the Remittance Report, a report setting forth (i) the Guaranteed Distribution for such Distribution Date, separately identifying the portions thereof allocable to principal and interest; (ii) the Available Distribution Amount for such Distribution Date; (iii) whether the Available Distribution Amount expected to be on deposit in the Distribution Account on such Distribution Date will be sufficient to cover the Guaranteed Distribution and, if not, the amount of the shortfall; (iv) with respect to any reimbursement to be made to the Certificate Insurer on such Distribution Date pursuant to Section 4.01(a)(2)(iv), the amount, if any, allocable to principal and the amount allocable to interest; and (v) Cumulative Insurance Payments after giving effect to the distributions to be made on such Distribution Date. The Trust Administrator Trustee shall not be responsible (except with regard to any information regarding the Prepayment Charges to the extent set forth below) to recompute, recalculate or verify any information provided to it by the ServicersMaster Servicer. Notwithstanding the foregoing, in connection with any Principal Prepayment on any Mortgage Loan listed on Schedule 2 heretoOn or prior to each Master Servicer Remittance Date, the Trust Administrator Master Servicer shall verify provide in an electronic format mutually agreed upon by the Master Servicer and the Trustee the data necessary for the Trustee to perform its verification duties set forth in this Section 4.03(a). The Trustee or a third party reasonably acceptable to the Trustee and the Depositor (the "Verification Agent") will perform such verification duties and will use its best efforts to issue its findings in a report (the "Verification Report") within ten (10) Business Days following the Master Servicer Remittance Date; provided, however, that if the Verification Agent is unable to issue the Verification Report within ten (10) Business Days following the Master Servicer Remittance Date, the Verification Agent may issue the Verification Report upon the completion of its verification duties. The Trustee shall forward the Verification Report to the Master Servicer and shall notify the Master Servicer if the Trustee has determined that the related Master Servicer did not deliver the appropriate Prepayment Charge was delivered Charges to the Trust Administrator for deposit in the Distribution Account in the amount set forth on such Schedule 2 or that such Prepayment Charge was waived Trustee in accordance with Section 3.10 and Schedule 2 hereof. Such written notification from the terms Trustee shall include the Master Servicer Mortgage Loan identifying number, Prepayment Charge code and Prepayment Charge amount as calculated by the Trustee or the Verification Agent, as applicable, for each Mortgage Loan for which there is a discrepancy. If the Master Servicer agrees with the verified amounts, the Master Servicer shall adjust the immediately succeeding Remittance Report and the amount remitted to the Trustee with respect to Principal Prepayments accordingly. If the Master Servicer disagrees with the determination of the Trustee, the Master Servicer shall, within five (5) Business Days of its receipt of the Verification Report, notify the Trustee of such disagreement and provide the Trustee with information to support the Master Servicer's position. The Master Servicer and the Trustee shall cooperate to resolve any discrepancy on or prior to the immediately succeeding Master Servicer Remittance Date, and the Master Servicer will indicate the effect of such resolution on the related Remittance Report and shall adjust the amount remitted with respect to Principal Prepayments on such Master Servicer Remittance Date accordingly. During such time as the Master Servicer and the Trustee are resolving discrepancies with respect to the Prepayment Charges, no payments in respect of any disputed Prepayment Charges will be remitted to the Collection Account and the Trustee shall not be obligated to remit such payments, unless otherwise required pursuant to Section 7.02 hereof. In connection with such duties, the Trustee shall be able to rely solely on the information provided to it by the Master Servicer and any Verification Agent in accordance with this Section. The Trustee shall not be responsible for verifying the accuracy of any of the information provided to it by the Master Servicer or the Verification Agent. The costs of such verification, whether performed by the Trustee or any third party on behalf of the Trustee, shall be paid by the Trustee. Anything to the contrary herein notwithstanding, the verification procedures set forth in this Section shall not be performed after the securities relating to any resecuritization of the Class P Certificates have been paid in full.

Remittance Reports; P&I Advances. (a) On the tenth day of each calendar month, the Master Servicer shall deliver to the Trust Administrator in an electronic format acceptable to the Trust Administrator, information with respect to each Mortgage Loan as is mutually agreed upon between the Master Servicer and the Trust Administrator. On the Business Day following each Determination Date, each the Master Servicer shall deliver to the Trust Administrator, the Trustee and the Certificate Insurer Administrator by telecopy (or by such other means as such Servicer, the Master Servicer or the Trust Administrator, the Trustee or the Certificate Insurer, as the case may be, may agree from time to time) a Remittance Report with respect to the related Distribution Date. On the same date, the related Master Servicer shall forward to the Trust Administrator by overnight mail a computer readable magnetic tape or internet mail an electronic electronically transmit (in a format acceptable to the Trust Administrator) on the day thereafter, a data file containing the information set forth in such Remittance Report with respect to the related Distribution Date. The Trust Administrator hereby agrees to forward a copy of the Such Remittance Report received from Option One in electronic format to the Master Servicer by the Business Day following its receipt thereof. Such Remittance Reports will include (i) the amount of P&I Advances to be made by the related Master Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable P&I Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator may reasonably require to perform the calculations necessary to make the distributions contemplated by Section 4.01 and to prepare the statements to Certificateholders contemplated by Section 4.02. Not later than the close of business on the third Business Day prior to the Distribution Date, the Trust Administrator shall deliver or cause to be delivered to the Certificate Insurer, in addition to the information provided on the Remittance Report, a report setting forth (i) the Guaranteed Distribution for such Distribution Date, separately identifying the portions thereof allocable to principal and interest; (ii) the Available Distribution Amount for such Distribution Date; (iii) whether the Available Distribution Amount expected to be on deposit in the Distribution Account on such Distribution Date will be sufficient to cover the Guaranteed Distribution and, if not, the amount of the shortfall; (iv) with respect to any reimbursement to be made to the Certificate Insurer on such Distribution Date pursuant to Section 4.01(a)(2)(iv), the amount, if any, allocable to principal and the amount allocable to interest; and (v) Cumulative Insurance Payments after giving effect to the distributions to be made on such Distribution Date. The Trust Administrator shall not be responsible (except with regard to any information regarding the Prepayment Charges to the extent set forth below) to recompute, recalculate or verify any information provided to it by the ServicersMaster Servicer. Notwithstanding the foregoing, in connection with any Principal Prepayment on any Mortgage Loan listed on Schedule 2 hereto, the Trust Administrator shall verify that the related Prepayment Charge was delivered to the Trust Administrator for deposit in the Distribution Account in the amount set forth on such Schedule 2 or that such Prepayment Charge was waived in accordance with the terms hereof.

Remittance Reports; P&I Advances. (a) On Prior to 10:00 a.m. Pacific time on the Business Day following each Determination Date, each the Master Servicer shall deliver to the Trust Administrator, the Trustee and the Certificate Insurer by telecopy (or by such other means as such Servicer, the Trust Administrator, the Trustee or the Certificate Insurer, as the case may be, may agree from time to time) a Remittance Report with respect to the related Distribution Date and shall deliver to the Trustee a computer readable magnetic tape containing the information set forth in such Remittance Report with respect to such Distribution Date. On the same date, the related Master Servicer shall forward to the Trust Administrator Trustee by overnight mail or internet mail an electronic file a computer readable magnetic tape containing the information set forth in such Remittance Report with respect to the related Distribution Date. The Trust Administrator hereby agrees to forward a copy of the Such Remittance Report received from Option One in electronic format to the Master Servicer by the Business Day following its receipt thereof. Such Remittance Reports will include (i) the amount of P&I Advances to be made by the related Master Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable P&I Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator Trustee may reasonably require to perform the calculations necessary to make the distributions contemplated by Section 4.01 and to prepare the statements to Certificateholders contemplated by Section 4.02. Not later than the close of business New York time on the third Business Day prior to following the Distribution Determination Date, the Trust Administrator Trustee shall deliver or cause to be delivered to the Certificate Insurer, in addition to the information provided on the Remittance Report, a report setting forth (i) the Guaranteed Distribution for such Distribution Date, separately identifying the portions thereof allocable to principal and interest; (ii) the Available Distribution Amount for such Distribution Date; (iii) whether the Available Distribution Amount expected to be on deposit in the Distribution Account on such Distribution Date will be sufficient to cover the Guaranteed Distribution and, if not, the amount of the shortfall; (iv) with respect to any reimbursement to be made to the Certificate Insurer on such Distribution Date pursuant to Section 4.01(a)(2)(iv), the amount, if any, allocable to principal and the amount allocable to interest; and (v) Cumulative Insurance Payments after giving effect to the distributions to be made on such Distribution Date. The Trust Administrator Trustee shall not be responsible (except with regard to any information regarding the Prepayment Charges to the extent set forth below) to recompute, recalculate or verify any information provided to it by the Servicers. Notwithstanding the foregoing, in connection with any Principal Prepayment on any Mortgage Loan listed on Schedule 2 hereto, the Trust Administrator shall verify that the related Prepayment Charge was delivered to the Trust Administrator for deposit in the Distribution Account in the amount set forth on such Schedule 2 or that such Prepayment Charge was waived in accordance with the terms hereofMaster Servicer.

Remittance Reports; P&I Advances. (a) On the Business Day following each Determination Master Servicer Reporting Date, each the Master Servicer shall deliver to the Trust Administrator, the Trustee and the Certificate Insurer by telecopy (or by such other means as such Servicer, the Trust Administrator, Master Servicer and the Trustee or the Certificate Insurer, as the case may be, may agree from time to time) a Remittance Report with respect to the related Distribution Date. On the same date, the related Servicer shall forward to the Trust Administrator by overnight mail or internet mail an electronic file containing the information set forth in such Such Remittance Report with respect to the related Distribution Date. The Trust Administrator hereby agrees to forward a copy of the Remittance Report received from Option One in electronic format to the Master Servicer by the Business Day following its receipt thereof. Such Remittance Reports will include (i) the amount of P&I Advances to be made by the related Master Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable P&I Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator Trustee may reasonably require to perform the calculations necessary to make the distributions contemplated by Section 4.01 and to prepare the statements to Certificateholders contemplated by Section 4.02. Not later than the close of business on the third Business Day prior to the Distribution Date, the Trust Administrator shall deliver or cause to be delivered to the Certificate Insurer, in addition to the information provided on the Remittance Report, a report setting forth (i) the Guaranteed Distribution for such Distribution Date, separately identifying the portions thereof allocable to principal and interest; (ii) the Available Distribution Amount for such Distribution Date; (iii) whether the Available Distribution Amount expected to be on deposit in the Distribution Account on such Distribution Date will be sufficient to cover the Guaranteed Distribution and, if not, the amount of the shortfall; (iv) with respect to any reimbursement to be made to the Certificate Insurer on such Distribution Date pursuant to Section 4.01(a)(2)(iv), the amount, if any, allocable to principal and the amount allocable to interest; and (v) Cumulative Insurance Payments after giving effect to the distributions to be made on such Distribution Date. The Trust Administrator Trustee shall not be responsible (except with regard to any information regarding the Prepayment Charges to the extent set forth below) to recompute, recalculate or verify any information provided to it by the ServicersMaster Servicer. Notwithstanding the foregoing, in connection with any Principal Prepayment on any Mortgage Loan listed on Schedule 2 heretoOn or prior to each Master Servicer Reporting Date, the Trust Administrator Master Servicer shall verify provide in an electronic format acceptable to the Trustee the data necessary for the Trustee to perform its verification duties set forth in this Section 4.03(a). The Trustee or a third party reasonably acceptable to the Trustee and the Depositor (the "Verification Agent") will perform such verification duties and will use its best efforts to issue its findings in a report (the "Verification Report") within ten (10) Business Days following the Master Servicer Reporting Date; provided, however, that if the Verification Agent is unable to issue the Verification Report within ten (10) Business Days following the Master Servicer Reporting Date, the Verification Agent may issue the Verification Report upon the completion of its verification duties. The Trustee shall forward the Verification Report to the Master Servicer and shall notify the Master Servicer if the Trustee has determined that the related Master Servicer did not deliver the appropriate Prepayment Charge was delivered Charges to the Trust Administrator for deposit in the Distribution Account in the amount set forth on such Schedule 2 or that such Prepayment Charge was waived Trustee in accordance with Section 3.10 and Schedule 2 hereof. Such written notification from the terms Trustee shall include the loan number, prepayment penalty code and prepayment penalty amount as calculated by the Trustee or the Verification Agent, as applicable, of each Mortgage Loan for which there is a discrepancy. If the Master Servicer agrees with the verified amounts, the Master Servicer shall adjust the immediately succeeding Remittance Report and the amount remitted to the Trustee with respect to prepayments accordingly. If the Master Servicer disagrees with the determination of the Trustee, the Master Servicer shall, within five (5) Business Days of its receipt of the Verification Report, notify the Trustee of such disagreement and provide the Trustee with detailed information to support the Master Servicer's position. The Master Servicer and the Trustee shall cooperate to resolve any discrepancy on or prior to the immediately succeeding Master Servicer Remittance Date, and the Master Servicer will indicate the effect of such resolution on the related Remittance Report and shall adjust the amount remitted with respect to prepayments on such Master Servicer Remittance Date accordingly. During such time as the Master Servicer and the Trustee are resolving discrepancies with respect to the Prepayment Charges, no payments in respect of any disputed Prepayment Charges will be remitted to the Collection Account and the Trustee shall not be obligated to remit such payments, unless otherwise required pursuant to Section 7.02 hereof. In connection with such duties, the Trustee shall be able to rely solely on the information provided to it by the Master Servicer and any Verification Agent in accordance with this Section. The Trustee shall not be responsible for verifying the accuracy of any of the information provided to it by the Master Servicer or the Verification Agent. The costs of such verification, whether performed by the Trustee or any third party on behalf of the Trustee, shall be paid by the Trustee. Anything to the contrary herein notwithstanding, the verification procedures set forth in this Section shall not be performed after the earlier to occur of (i) the May 2005 Distribution Date or (ii) the securities relating to any resecuritization of the Class P Certificates have been paid in full.

Remittance Reports; P&I Advances. (a) On the Business Day following each Determination Date, each Servicer shall deliver to the Trust AdministratorTrustee, the Trustee Guarantor and the Certificate Insurer by telecopy (or by such other means as such the related Servicer, the Trust AdministratorTrustee, the Trustee Guarantor or the Certificate Insurer, as the case may be, may agree from time to time) a Remittance Report with respect to the related Distribution Date. All such reports shall be delivered to the Guarantor as specified in the Guarantor's Lender Guide, as amended from time to time. On the same date, the related each Servicer shall forward electronically transmit (in a format acceptable to the Trust Administrator by overnight mail or internet mail an electronic Trustee), a data file containing the information set forth in such Remittance Report with respect to the related Distribution Date. The Trust Administrator hereby agrees to Date or if electronic transmission is not available, the related Servicer shall forward a copy of the Remittance Report received from Option One in electronic format to the Master Servicer Trustee by the Business Day following its receipt thereofovernight mail a computer readable magnetic tape. Such Remittance Reports Report will include (i) the amount of P&I Advances to be made by the related Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable P&I Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator Trustee may reasonably require to perform the calculations necessary to make the distributions contemplated by Section 4.01 and to prepare the statements to Certificateholders contemplated by Section 4.02. Not later than each Servicer Remittance Date (or, in the close case of business on certain information, as agreed between the third Trustee and the related Servicer, not later than four Business Day prior to Days after the Distribution Dateend of each Due Period), the Trust Administrator each Servicer shall deliver or cause to be delivered to the Certificate Insurer, Trustee in addition to the information provided on the Remittance Report, a report setting forth (i) the Guaranteed Distribution for such Distribution Date, separately identifying the portions thereof allocable other information reasonably available to principal and interest; (ii) the Available Distribution Amount for such Distribution Date; (iii) whether the Available Distribution Amount expected to be on deposit in the Distribution Account on such Distribution Date will be sufficient to cover the Guaranteed Distribution and, if not, the amount of the shortfall; (iv) it with respect to any reimbursement the Mortgage Loans as the Trustee may reasonably require to be made perform the calculations necessary to the Certificate Insurer on such Distribution Date pursuant to Section 4.01(a)(2)(iv), the amount, if any, allocable to principal and the amount allocable to interest; and (v) Cumulative Insurance Payments after giving effect to make the distributions contemplated by Section 4.01 and to be made on such Distribution Dateprepare the statements to Certificateholders contemplated by Section 4.02. The Trust Administrator Trustee shall not be responsible (except with regard to any information regarding the Prepayment Charges to the extent set forth below) to recompute, recalculate or verify any information provided to it by the Servicers. Notwithstanding the foregoing, in connection with any Principal Prepayment on any Mortgage Loan listed on Schedule 2 hereto, the Trust Administrator shall verify that the related Prepayment Charge was delivered to the Trust Administrator for deposit in the Distribution Account in the amount set forth on such Schedule 2 or that such Prepayment Charge was waived in accordance with the terms hereofeither Servicer.

Remittance Reports; P&I Advances. (a) On the Business Day following each Determination Date, each the Master Servicer shall deliver to the Trust Administrator, the Trustee and the Certificate Insurer by telecopy (or by such other means as such Servicer, the Trust Administrator, Master Servicer and the Trustee or the Certificate Insurer, as the case may be, may agree from time to time) a Remittance Report with respect to the related Distribution Date. On the same date, the related Servicer shall forward to the Trust Administrator by overnight mail or internet mail an electronic file containing the information set forth in such Such Remittance Report with respect to the related Distribution Date. The Trust Administrator hereby agrees to forward a copy of the Remittance Report received from Option One in electronic format to the Master Servicer by the Business Day following its receipt thereof. Such Remittance Reports will include (i) the amount of P&I Advances to be made by the related Master Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable P&I Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator Trustee may reasonably require to perform the calculations necessary to make the distributions contemplated by Section 4.01 and to prepare the statements to Certificateholders contemplated by Section 4.02. Not later than the close of business New York time on the third second Business Day prior to following the Distribution Master Servicer Remittance Date, the Trust Administrator Trustee shall deliver or cause to be delivered to the Certificate Insurer, in addition to the information provided on the Remittance Report, a report setting forth (i) the Guaranteed Distribution for such Distribution Date, separately identifying the portions thereof allocable to principal and interest; (ii) the Available Distribution Amount for such Distribution Date; (iii) whether the Available Distribution Amount expected to be on deposit in the Distribution Account on Deficiency Amount, if any, for such Distribution Date will be sufficient to cover the Guaranteed Distribution and, if not, the amount of the shortfallDate; (iv) with respect to any reimbursement to be made to the Certificate Insurer on such Distribution Date pursuant to Section 4.01(a)(2)(iv), the amount, if any, allocable to principal and the amount allocable to interest; and (v) the amount of any Cumulative Insurance Payments after giving effect to the distributions to be made on such Distribution Date. The Trust Administrator Trustee shall not be responsible (except with regard to any information regarding the Prepayment Charges to the extent set forth below) to recompute, recalculate or verify any information provided to it by the Servicers. Notwithstanding the foregoing, in connection with any Principal Prepayment on any Mortgage Loan listed on Schedule 2 hereto, the Trust Administrator shall verify that the related Prepayment Charge was delivered to the Trust Administrator for deposit in the Distribution Account in the amount set forth on such Schedule 2 or that such Prepayment Charge was waived in accordance with the terms hereofMaster Servicer.