Common use of Statements to Securityholders Clause in Contracts

Statements to Securityholders. Not later than 10:00 A.M. on each Determination Date, the Servicer shall provide to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), and the Indenture Trustee shall forward to each Bondholder of record as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forth, to the extent applicable: (i) the amount, if any, of the distributions to the holders of each Class of Bonds on such Distribution Date applied to reduce the aggregate Bond Class Balance thereof; (ii) the amount of the distributions to holders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment Premiums; (iii) the outstanding Funding Note Balance as of the related Determination Date; (iv) the number and Aggregate Stated Principal Balance of outstanding Mortgage Loans in the Mortgage Pool; (v) the number and aggregate Stated Principal Balance of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commenced; (vi) with respect to any REO Property acquired during the related Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO Property; (vii) (A) the most recent appraised value of any REO Property as of the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage Loan; (viii) the aggregate Bond Class Balance of each Class of Bonds before and after giving effect to the distributions made on such Distribution Date; (ix) the aggregate amount of Principal Prepayments made during the related Prepayment Period; (x) the aggregate amount of servicing compensation retained by or paid to the Servicer and the Special Servicer; (xi) the amount of Realized Losses, if any, incurred with respect to the Mortgage Loans during the related Collection Period; (xii) the aggregate amount of Servicing Advances and P&I Advances outstanding as of the end of the prior calendar month that have been made by the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately stated; (xiii) the Overcollateralization Level at the close of business on such Distribution Date; (xiv) the amount, if any, withdrawn from the Collection Account and paid to the Fiscal Agent, the Indenture Trustee, the Servicer or the Special Servicer as reimbursement for Nonrecoverable Advances; (xv) with respect to any Mortgage Loan that is delinquent in respect of three or more Monthly Payments, (A) the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances and Servicing

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Servicer shall provide forward the Servicing Certificate to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), and the Indenture Trustee Trustee, pursuant to Section 3.26 of the Indenture, shall forward make such Servicing Certificate available to each Bondholder of record Certificateholder, each Noteholder, the Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent, Bear ▇▇▇▇▇▇▇ Capital Markets Inc. and each Rating Agency. The Servicing Certificate shall set forth the following information as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) for each Loan Group, the amountaggregate amount of (a) Interest Collections, if any(b) Principal Collections (and, of the distributions with respect to any Payment Date relating to the holders of each Class of Bonds on Managed Amortization Period, Net Principal Collections) and (c) Substitution Adjustment Amounts for such Distribution Date applied to reduce the aggregate Bond Class Balance thereofCollection Period; (ii) the amount of such distribution as principal to the distributions to holders Noteholders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsNotes; (iii) the outstanding Funding Note Balance amount of such distribution as interest to the Noteholders of each Class of Notes, the amount thereof, if any, payable in respect of unpaid Interest Shortfalls, and the amount of any Interest Shortfalls for the related Determination Payment Date; (iv) the number Policy Draw Amount, if any, for such Payment Date and Aggregate Stated Principal Balance the aggregate amount of outstanding Mortgage Loans in prior draws on the Mortgage PoolPolicy thereunder not yet reimbursed; (v) the number and aggregate Stated Principal Balance amount of Mortgage Loans in such distribution to the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedCertificateholders; (vi) with respect to any REO Property acquired during the related Collection Period, the Stated aggregate Principal Balance of the related Mortgage Loans in each Loan Group as of the date of acquisition end of the REO Propertypreceding Collection Period; (vii) the number and aggregate Principal Balances of Mortgage Loans (A) the most recent appraised value of any REO Property as of the related Determination Date, (Ba) as to any REO Property sold during which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days and 90 or more days, respectively, (b) the related Collection Period, the date Mortgaged Property of which has been foreclosed upon and (c) as to which the related determination by the Special Servicer that it Mortgaged Property has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each become REO Property during the related Collection Period and credited to the Collection AccountProperty, in each case identifying such REO Property by the loan number as of the related Mortgage Loanend of the preceding Collection Period; provided, however, that such information shall not be provided on the statements relating to the first Payment Date; (viii) the aggregate Bond Class Balance of each Class of Bonds before Net Loan Rate for Loan Groups I and after giving effect to II for the distributions made on such Distribution Daterelated Collection Period; (ix) prior to the second Determination Date following the commencement of the Rapid Amortization Period for the Floating Rate Term Notes, the aggregate amount of Principal Prepayments made Additional Balances created during the related Prepayment previous Collection Period and conveyed to the Issuer prior to the commencement of such Rapid Amortization Period; (x) the aggregate amount of servicing compensation retained by or paid Liquidation Loss Amounts with respect to the Servicer related Collection Period for each Loan Group, the amount distributed as principal to Noteholders in respect of Liquidation Loss Amounts and the Special Serviceraggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as dollar amount and as a percentage of the aggregate Cut-Off Date Principal Balances of the Mortgage Loans; (xi) the amount aggregate Note Balance of Realized Losses, if any, incurred with respect each Class of Notes and the Certificate Balance of the Certificates after giving effect to the Mortgage Loans during the related Collection Perioddistribution of principal on such Payment Date; (xii) the aggregate amount balance of Servicing Advances the Pre-Funding Account, Funding Account, Capitalized Interest Account and P&I Advances outstanding Reserve Account as of the end of the prior calendar month that have been made by the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately statedpreceding Collection Period; (xiii) the Overcollateralization Level at Percentage Interest applicable to each of the close Securities, after application of business payments made on such Distribution Payment Date; (xiv) the amount, if any, withdrawn from Overcollateralization Amount for each Loan Group as of the end of the preceding Collection Account and paid Period; and (xv) the aggregate Principal Balance of Subsequent Mortgage Loans transferred to the Fiscal AgentTrust Estate for each Loan Group. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Term Note, Variable Funding Note or Certificate, as applicable, with a $25,000 denomination. If a Managed Amortization Event, a Rapid Amortization Event or a Servicing Default shall occur, on the Business Day following the related Determination Date, the Servicer shall forward to the Indenture Trustee, and the Servicer Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall forward or cause to be forwarded by mail to each Certificateholder, each Noteholder, the Special Servicer as reimbursement for Nonrecoverable Advances; Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement to such effect, including, in the case of a Rapid Amortization Event or a Servicing Default, the nature thereof. Such statement may be included in, or separate from, the regular statement sent to Securityholders. The Indenture Trustee will make the monthly statement to Securityholders (xvand, at its option, any additional files containing the same information in an alternative format) with respect available each month to any Mortgage Loan that is delinquent in respect of three or more Monthly PaymentsSecurityholders, and other parties to this Agreement via the Indenture Trustee's internet website and its fax-on-demand service. The Indenture Trustee's fax-on-demand service may be accessed by calling (A▇▇▇) the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unre▇▇▇-▇▇▇▇. The Indenture Trustee's internet website shall initially be located at "▇▇▇.▇▇▇▇▇▇▇▇ .▇&▇ Advances ▇▇". Assistance in using the website or the fax-on demand service can be obtained by calling the Indenture Trustee's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and Servicingindicating such. The Indenture Trustee shall have the right to change the way the statements to Securityholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. (b) The Servicer shall forward to the Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on the Business Day next succeeding each Determination Date, the Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and deposited into the Note Payment Account, Reserve Account, Funding Account and/or Distribution Account on the Business Day preceding the related Payment Date pursuant to Section 3.03. The determination by the Servicer of such amounts shall, in the absence of obvious error, be deemed to be presumptively correct for all purposes hereunder, and the Owner Trustee and the Indenture Trustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer's written request, the Servicer shall promptly furnish such information reasonably requested by the Issuer that is reasonably available to the Servicer to enable the Issuer to perform its federal and state income tax reporting obligations.

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Servicer shall provide forward to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), Trustee and the Indenture Trustee pursuant to Section 3.26 of the Indenture shall forward or cause to be forwarded by mail or otherwise make available electronically at www.jpmorgan.com/sfr to each Bondholder of record Certificateholder, Noteholder, t▇▇ ▇▇▇▇▇cer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement setting forth the following information (the "Servicing Certificate") as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amountapplicable Record Date, if any, of the distributions to the holders of each Class of Bonds on such Distribution Determination Date applied to reduce the aggregate Bond Class Balance thereofand Payment Date; (ii) the aggregate amount of payments received with respect to the distributions to holders of Mortgage Loans in each Class of Bonds on such Distribution Date allocable to (A) interestLoan Group, (B) Interest Carryover Shortfalls and (C) Prepayment Premiumsincluding prepayment amounts; (iii) the outstanding Funding Note Balance as of Servicing Fee payable to the related Determination DateServicer; (iv) the number amount of any other fees or expenses paid, and Aggregate Stated Principal Balance the identity of outstanding Mortgage Loans in the Mortgage Poolparty receiving such fees or expenses; (v) the number and aggregate Stated Principal Balance amount of Mortgage Loans in the Mortgage Pool (Aa) delinquent one monthInterest Collections for each Loan Group, (Bb) delinquent two monthsPrincipal Collections for each Loan Group, (Cc) delinquent three or more months or Substitution Adjustment Amounts for each Loan Group and (Dd) as to which foreclosure proceedings have been commencedExcess Spread, for the related Collection Period; (vi) with respect the amount paid as principal to any REO Property acquired during the related Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO PropertyNoteholders; (vii) (A) the most recent appraised value amount paid as interest to the Noteholders, the amount of any REO Property as of the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable Interest Carryforward Amount and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during any Relief Act Shortfalls for the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage LoanPayment Date; (viii) the aggregate Bond Class Balance amount of interest remaining unpaid for each Class Loan Group, if any, for each of Bonds before and the Notes, after giving effect to the distributions payments made on such Distribution Payment Date; (ix) each Policy Draw Amount, if any, for such Payment Date, the aggregate amount of Principal Prepayments made during prior draws on the related Prepayment PeriodPolicy thereunder not yet reimbursed the amount paid to the Credit Enhancer in reimbursement for prior draws; (x) the aggregate amount of servicing compensation retained by or paid such distribution as principal and interest to the Servicer and Certificateholders of the Special ServicerCertificates, separately stating the portion thereof which resulted in a reduction of the Certificate Balance thereof; (xi) the amount aggregate Principal Balance of Realized Losses, if any, incurred with respect to the Mortgage Loans during in each Loan Group as of the end of the related Collection Period; (xii) the number and aggregate amount Principal Balances of Servicing Advances Mortgage Loans in each Loan Group (a) as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days, 150-179 days and P&I Advances outstanding greater than 180 days, respectively, (b) the related Mortgaged Property of which has been foreclosed upon and (c) as to which the related Mortgaged Property has become REO Property, in each case as of the end of the prior calendar month related Collection Period; provided, however, that have been made by such information shall not be provided on the Servicer, statements relating to the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately statedfirst Payment Date; (xiii) the Overcollateralization Level at number and aggregate Principal Balance of Mortgage Loans in each Loan Group repurchased pursuant to Section 3.15(a) herein during the close related Collection Period; (xiv) the Net WAC Rate for the related Collection Period; (xv) the aggregate Liquidation Loss Amounts, aggregate Group I Liquidation Loss Amount and aggregate Group II Liquidation Loss Amounts with respect to the related Collection Period, the amount distributed as principal to the related Noteholders in respect of business Liquidation Loss Amounts and the aggregate of the Liquidation Loss Amounts aggregate Group I Liquidation Loss Amount and aggregate Group II Liquidation Loss Amounts (in all cases minus any related Subsequent Net Recovery Amounts) from all Collection Periods to date expressed as dollar amount and as a percentage of the aggregate Cut-Off Date Principal Balances of the Mortgage Loans; (xvi) the aggregate Note Balance and the Certificate Balance after giving effect to the distribution of principal on such Distribution Payment Date; (xivxvii) the balance in each Pre-Funding Account and each Capitalized Interest Account, as of the end of the related Collection Period; (xviii) the Percentage Interest applicable to each of the Securities, after application of payments made on such Payment Date; (xix) the amount, if any, withdrawn from of the Hedge Payments for such Distribution Date and any shortfall in amounts previously required to be paid under the Hedge Agreement for prior Distribution Dates; (xx) the Overcollateralization Amount, the Overcollateralization Amount for the Group I Loans and Overcollateralization Amount for the Group II Loans, in all cases, as of the end of the related Collection Account Period; and (xxi) the aggregate Principal Balance of Subsequent Mortgage Loans transferred to each Loan Group during the related Collection Period. In the case of information furnished pursuant to clauses (vi) and paid (vii) above, the amounts shall be expressed as an aggregate dollar amount per Note or Certificate, as applicable, with a $25,000 denomination per Note and with a denomination equal to a 100% Percentage Interest per Certificate. If a Servicing Default shall occur, on the Business Day following the related Determination Date, the Servicer shall forward to the Fiscal AgentIndenture Trustee a statement to such effect, including the nature of such Servicing Default. The Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall deliver or cause to be delivered by mail to each Certificateholder, each Noteholder, the Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, notice of such Servicing Default, including the nature thereof. Such statement may be included in, or separate from, the regular statement made available to Securityholders. The Indenture Trustee will make the Servicing Certificate (and, at its option, any additional files containing the same information in an alternative format) available each month to Securityholders, and other parties to this Agreement via the Indenture Trustee, 's internet website. The Indenture Trustee's internet website shall initially be located at "www.jpmorgan.com/sfr." Assistance in using the Servicer or the Special Servicer as reimbursement for Nonrecoverable Advances; (xv) with respect to any Mortgage Loan that is delinquent in respect of three or more Monthly Payments, (A) the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unrewebsite can b▇ ▇▇▇▇▇▇▇▇ ▇&▇ Advances ▇▇▇▇▇▇g the Indenture Trustee's customer service desk at (877) 722-1095. Parties that are unable to use the above distri▇▇▇▇▇▇ ▇▇▇▇▇▇▇ are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and Servicingindicating such. The Indenture Trustee shall have the right to change the way the statements to Securityholders are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Indenture Trustee may require registration and the acceptance of a disclaimer in connection with access to its website. (b) The Servicer shall forward to the Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on the Business Day next succeeding each Determination Date, the Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and deposited into the Note Payment Account or Distribution Account on the Business Day preceding the related Payment Date pursuant to Section 3.03. The determination by the Servicer of such amounts shall, in the absence of obvious error, be deemed to be presumptively correct for all purposes hereunder, and the Owner Trustee and the Indenture Trustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer's written request, the Servicer shall promptly furnish such information reasonably requested by the Issuer that is reasonably available to the Servicer to enable the Issuer to perform its federal and state income tax reporting obligations.

Statements to Securityholders. Not later than 10:00 A.M. on On each Determination Distribution Date, the Servicer shall provide to prepare and will include with the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), and the Indenture Trustee shall forward distribution to each Bondholder of record as of Securityholder, the most recent Record Date and to Monthly Report, setting forth for the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) related Due Period the following statements: (a) a statement substantially in the form of Exhibit B, setting forth, to the extent applicableinformation: (i) the amount, if any, amount of collections on the distributions to Contracts during the holders of each Class of Bonds on such Distribution Date applied to reduce the aggregate Bond Class Balance thereofimmediately preceding Due Period; (ii) the amount Amount Available for payment of all amounts distributable in respect of the distributions to holders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls Securities and (C) Prepayment Premiumsthe Servicer Payment; (iii) the outstanding Funding Note Balance as amount of the related Determination Datedistribution allocable to principal of the Notes and to the Certificate Balance of the Certificates, including any overdue principal; (iv) the number and Aggregate Stated Principal Balance amount of outstanding Mortgage Loans in the Mortgage Pooldistribution allocable to interest on or with respect to each class of Securities, including any overdue interest; (v) the number Pool Balance, the Note Pool Factor and aggregate Stated Principal Balance the Certificate Pool Factor as of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedend of the related Due Period; (vi) with respect to any REO Property acquired during the related Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO Property; (vii) (A) the most recent appraised value of any REO Property as of the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage Loan; (viii) the aggregate Bond Class Balance of each Class of Bonds before and after giving effect to the distributions made on Payment for such Distribution Date; (ix) the aggregate amount of Principal Prepayments made during the related Prepayment Period; (x) the aggregate amount of servicing compensation retained by or paid to the Servicer and the Special Servicer; (xivii) the amount of Realized Losses, if any, incurred with respect to the Mortgage Loans during the related Collection PeriodMonthly Advances and Non-Reimbursable Payments on such date; (xii) the aggregate amount of Servicing Advances and P&I Advances outstanding as of the end of the prior calendar month that have been made by the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately stated; (xiii) the Overcollateralization Level at the close of business on such Distribution Date; (xivviii) the amount, if any, withdrawn from the Collection Cash Collateral Account and paid distributed to the Fiscal AgentCertificateholders with respect to such Distribution Date; (ix) the Available Cash Collateral Amount, after giving effect to any deposit to or withdrawal from the Cash Collateral Account with respect to such Distribution Date, and such amount expressed as a percentage of the Pool Balance; (x) the aggregate principal balance of all Contracts which were delinquent 30, 60 and 90 days or more as of the last day of the related Due Period; (xi) the amount of investment earnings, net of losses and investment expenses on amounts on deposit in the Collection Account; (xii) during the Funding Period, the Indenture Trusteeamount of funds on deposit in the Pre-Funding Account; (xiii) during the Funding Period, the Servicer or number and aggregate principal balance of Subsequent Contracts; (xiv) during the Special Servicer as reimbursement for Nonrecoverable AdvancesFunding Period, the number and aggregate principal balance of Subsequent Contracts purchased by the Trust on the related Distribution Date; (xv) during the Funding Period, the amount, if any, withdrawn from the Capitalized Interest Account to make payments of interest on the Securities; (xvi) during the Funding Period, the amount remaining on deposit in the Capitalized Interest Account; (xvii) during the Funding Period, the amount investment earnings, net of losses and investment expenses on amounts on deposit in the Pre-Funding Account; (xviii) during the Funding Period, the amount investment earnings, net of losses and investment expenses on amounts on deposit in the Capitalized Interest Account; (xix) on the Distribution Date immediately following the end of the Funding Period (or if the Funding Period ends on a Distribution Date on such Distribution Date), the aggregate principal amount and percentage of each of the Notes and Certificates which are being redeemed; (xx) the aggregate principal balance of all Contracts which became Defaulted Contracts during the related Due Period; (xxi) the number and aggregate principal amount of Contracts which were prepaid, in part or in whole, during the related Due Period; (xxii) the aggregate outstanding principal balance of the Notes as of such Distribution Date after giving effect to any distributions on such Distribution Date; (xxiii) the Certificate Balance as of such Distribution Date after giving effect to any distributions thereon and reductions thereto on such Distribution Date; (xxiv) the amount, if any, by which the amount due to be distributed to Noteholders and Certificateholders exceeds the actual amount distributed on the related Distribution Date to Noteholders and Certificateholders, respectively; (xxv) the Draw Amount, if any, and the Final Draw Amount (if applicable) with respect to any Mortgage Loan that is delinquent such Distribution Date; (xxvi) the Required Cash Collateral Amount; (xxvii) the amount of the surplus to be distributed to the holder of the GP Interest after all payments have been made in respect of three the Securities and the Servicer Payment has been paid. Within a reasonable period of time after the end of each calendar year, but not later than the latest date permitted by law, the Servicer shall furnish or more Monthly Payments, (A) cause to be furnished to each Person who at any time during the loan number thereof, (B) calendar year was a Securityholder a statement containing the unpaid balance thereof, (C) whether information with respect to interest accrued and principal paid on its Securities during such calendar year. Such obligation shall be deemed to have been satisfied to the delinquency is extent that substantially comparable information shall be provided to the Securityholders pursuant to any requirements of the Code as from time to time in respect of any Balloon Payment, (D) the aggregate amount of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances and Servicingforce.

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Servicer shall provide forward to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), Trustee and the Indenture Trustee pursuant to Section 3.26 of the Indenture shall forward or cause to be forwarded by mail or otherwise make available electronically at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇ to each Bondholder of record Certificateholder, Noteholder, the Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement setting forth the following information (the "Servicing Certificate") as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amountapplicable Record Date, if any, of the distributions to the holders of each Class of Bonds on such Distribution Determination Date applied to reduce the aggregate Bond Class Balance thereofand Payment Date; (ii) the aggregate amount of payments received with respect to the distributions to holders of each Class of Bonds on such Distribution Date allocable to (A) interestMortgage Loans, (B) Interest Carryover Shortfalls and (C) Prepayment Premiumsincluding prepayment amounts; (iii) the outstanding Funding Note Balance as of Servicing Fee payable to the related Determination DateServicer; (iv) the number amount of any other fees or expenses paid, and Aggregate Stated Principal Balance the identity of outstanding Mortgage Loans in the Mortgage Poolparty receiving such fees or expenses; (v) the number and aggregate Stated Principal Balance amount of Mortgage Loans in the Mortgage Pool (Aa) delinquent one monthInterest Collections, (Bb) delinquent two monthsPrincipal Collections, (Cc) delinquent three or more months or Substitution Adjustment Amounts and (Dd) as to which foreclosure proceedings have been commencedExcess Spread, for the related Collection Period; (vi) with respect the amount paid as principal to any REO Property acquired during the related Collection Period, the Stated Principal Balance Noteholders of the related Mortgage Loan as each Class of the date of acquisition of the REO PropertyNotes; (vii) (A) the most recent appraised value amount paid as interest to the Noteholders of each Class of Notes, the amount of any REO Property as of the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable Interest Carry Forward Amount and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during any Relief Act Shortfalls for the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage LoanPayment Date; (viii) the aggregate Bond Class Balance amount of interest remaining unpaid, if any, for each Class of Bonds before and the Notes, after giving effect to the distributions payments made on such Distribution Payment Date; (ix) each Policy Draw Amount, if any, for such Payment Date, the aggregate amount of Principal Prepayments made during prior draws on the related Prepayment PeriodPolicy thereunder not yet reimbursed the amount paid to the Enhancer in reimbursement for prior draws; (x) the aggregate amount of servicing compensation retained by or paid such distribution as principal and interest to the Servicer and Certificateholders of the Special ServicerCertificates, separately stating the portion thereof which resulted in a reduction of the Certificate Balance thereof; (xi) the amount aggregate Principal Balance of Realized Losses, if any, incurred with respect to the Mortgage Loans during as of the end of the related Collection Period; (xii) the number and aggregate amount Principal Balances of Servicing Advances Mortgage Loans (a) as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days, 150-179 days and P&I Advances outstanding greater than 180 days, respectively, (b) the related Mortgaged Property of which has been foreclosed upon and (c) as to which the related Mortgaged Property has become REO Property, in each case as of the end of the prior calendar month related Collection Period; provided, however, that have been made by such information shall not be provided on the Servicer, statements relating to the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately statedfirst Payment Date; (xiii) the Overcollateralization Level at number and aggregate Principal Balance of Mortgage Loans repurchased pursuant to Section 3.15(a) herein during the close related Collection Period; (xiv) the Net WAC Rate for the related Collection Period; (xv) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount distributed as principal to Noteholders in respect of business Liquidation Loss Amounts and the aggregate of the Liquidation Loss Amounts (minus any Subsequent Net Recovery Amounts) from all Collection Periods to date expressed as dollar amount and as a percentage of the aggregate Cut-Off Date Principal Balances of the Mortgage Loans; (xvi) the aggregate Note Balance of each Class of Notes and the Certificate Balance of each Class of Certificates after giving effect to the distribution of principal on such Distribution Payment Date; (xivxvii) the balance of the Pre-Funding Account and Capitalized Interest Account, as of the end of the related Collection Period; (xviii) the Percentage Interest applicable to each of the Securities, after application of payments made on such Payment Date; (xix) the amount, if any, withdrawn from of the Yield Maintenance Payments for such Distribution Date and any shortfall in amounts previously required to be paid under the Yield Maintenance Agreement for prior Distribution Dates; (xx) the Overcollateralization Amount as of the end of the related Collection Account and paid Period; and (xxi) the aggregate Principal Balance of Subsequent Mortgage Loans transferred to the Fiscal AgentTrust Estate during the related Collection Period. In the case of information furnished pursuant to clauses (vi) and (vii) above, the amounts shall be expressed as an aggregate dollar amount per Note or Certificate, as applicable, with a $25,000 denomination per Note and with a denomination equal to a 100% Percentage Interest per Certificate. If a Servicing Default shall occur, on the Business Day following the related Determination Date, the Servicer shall forward to the Indenture Trustee a statement to such effect, including the nature of such Servicing Default. The Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall deliver or cause to be delivered by mail to each Certificateholder, each Noteholder, the Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, notice of such Servicing Default, including the nature thereof. Such statement may be included in, or separate from, the regular statement made available to Securityholders. The Indenture Trustee will make the Servicing Certificate (and, at its option, any additional files containing the same information in an alternative format) available each month to Securityholders, and other parties to this Agreement via the Indenture Trustee, the Servicer or the Special Servicer as reimbursement for Nonrecoverable Advances; (xv) with respect to any Mortgage Loan that is delinquent in respect of three or more Monthly Payments, (A) the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unre's internet website. The Indenture Trustee's internet website shall initially be located at "▇▇▇.▇▇▇▇▇▇▇▇ ▇&▇ Advances .▇▇▇/▇▇▇." Assistance in using the website can be obtained by calling the Indenture Trustee's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and Servicingindicating such. The Indenture Trustee shall have the right to change the way the statements to Securityholders are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Indenture Trustee may require registration and the acceptance of a disclaimer in connection with access to its website. (b) The Servicer shall forward to the Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on the Business Day next succeeding each Determination Date, the Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and deposited into the Note Payment Account or Distribution Account on the Business Day preceding the related Payment Date pursuant to Section 3.03. The determination by the Servicer of such amounts shall, in the absence of obvious error, be deemed to be presumptively correct for all purposes hereunder, and the Owner Trustee and the Indenture Trustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer's written request, the Servicer shall promptly furnish such information reasonably requested by the Issuer that is reasonably available to the Servicer to enable the Issuer to perform its federal and state income tax reporting obligations.

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Servicer shall provide forward to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), Trustee and the Indenture Trustee pursuant to Section 3.26 of the Indenture shall forward or cause to be forwarded by mail or otherwise make available electronically at www.jpmorgan.com/sfr to each Bondholder of record Certificateholder, Noteholder, the Credit ▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇itor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement setting forth the following information (the "Servicing Certificate") as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amountapplicable Record Date, if any, of the distributions to the holders of each Class of Bonds on such Distribution Determination Date applied to reduce the aggregate Bond Class Balance thereofand Payment Date; (ii) the aggregate amount of payments received with respect to the distributions to holders of each Class of Bonds on such Distribution Date allocable to (A) interestHome Equity Loans, (B) Interest Carryover Shortfalls and (C) Prepayment Premiumsincluding prepayment amounts; (iii) the outstanding Funding Note Balance as of Servicing Fee payable to the related Determination DateServicer; (iv) the number amount of any other fees or expenses paid, and Aggregate Stated Principal Balance the identity of outstanding Mortgage Loans in the Mortgage Poolparty receiving such fees or expenses; (v) the number and aggregate Stated Principal Balance amount of Mortgage Loans in the Mortgage Pool (Aa) delinquent one monthInterest Collections, (Bb) delinquent two months, Principal Collections and (Cc) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedSubstitution Adjustment Amounts for such Collection Period; (vi) with respect the amount paid as principal to any REO Property acquired during the related Collection Period, the Stated Principal Balance Noteholders of the related Mortgage Loan as each Class of the date of acquisition of the REO PropertyNotes; (vii) (A) the most recent appraised value of any REO Property as of the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited paid as interest to the Collection AccountNoteholders of each Class of Notes, separately stating the portion thereof in each case identifying such REO Property by the loan number respect of the related Mortgage LoanRelief Act Shortfalls, if any; (viii) the aggregate Bond Class Balance amount of interest remaining unpaid, if any, for each Class of Bonds before and the Notes, after giving effect to the distributions payments made on such Distribution Payment Date; (ix) the amount of any draw on the Policy for such Payment Date, the amount paid to the Credit Enhancer in reimbursement for prior draws and the aggregate amount of Principal Prepayments made during prior draws under the related Prepayment PeriodPolicies not yet reimbursed; (x) the aggregate amount of servicing compensation retained by or paid such distribution as principal and interest to the Servicer and Certificateholders of the Special ServicerCertificates, separately stating the portion thereof which resulted in a reduction of the Certificate Balance thereof; (xi) the amount aggregate Principal Balance of Realized Losses, if any, incurred with respect to the Mortgage Home Loans during as of the related end of the preceding Collection Period; (xii) the number and aggregate amount Principal Balances of Servicing Advances Home Loans (a) as to which the Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days and P&I Advances outstanding 150-179 days, respectively, (b) the related Mortgaged Property of which has been foreclosed upon and (c) as to which the related Mortgaged Property has become REO Property, in each case as of the end of the prior calendar month preceding Collection Period; provided, however, that have been made by such information shall not be provided on the Servicer, statements relating to the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately statedfirst Payment Date; (xiii) the Overcollateralization Level at aggregate Liquidation Loss Amounts with respect to the close related Collection Period, the amount distributed as principal to Noteholders in respect of business on such Distribution DateLiquidation Loss Amounts (minus any Recovery Amounts) and the aggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as dollar amount and as a percentage of the aggregate Cut-Off Date Principal Balances of the Home Loans; (xiv) the amount, if any, withdrawn from aggregate Note Balance of each Class of Notes and the Collection Account and paid Certificate Balance of the Certificates after giving effect to the Fiscal Agent, the Indenture Trustee, the Servicer or the Special Servicer as reimbursement for Nonrecoverable Advancesdistribution of principal on such Payment Date; (xv) the Percentage Interest applicable to each of the Securities, after application of payments made on such Payment Date; (xvi) the Overcollateralization Amount as of the end of the preceding Collection Period and the Overcollateralization Release Amount for such Payment Date; (xvii) the amount of any payment to be made to the designee or designees of the Credit Enhancer with respect to any Mortgage Loan that is delinquent in respect of three or more Monthly Payments, such Payment Date pursuant to Sections 3.05(a)(i); (Axviii) the loan number thereof, weighted average of the Net Loan Rates for the Home Loans for the related Collection Period; and (Bxix) the unpaid balance thereofnumber and aggregate Principal Balance of Home Loans repurchased pursuant to Section 3.15(a) herein during the related Collection Period. In the case of information furnished pursuant to clauses (vi) and (vii) above, the amounts shall be expressed as an aggregate dollar amount per Note or Certificate, as applicable, with a $25,000 denomination. If a Servicing Default shall occur, on the Business Day following the related Determination Date, the Servicer shall forward to the Indenture Trustee, and the Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall forward or cause to be forwarded by mail to each Certificateholder, each Noteholder, the Credit Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement to such effect, including the nature of such Servicing Default. Such statement may be included in, or separate from, the regular statement sent to Securityholders. The Indenture Trustee will make the monthly statement to Securityholders (Cand, at its option, any additional files containing the same information in an alternative format) whether available each month to Securityholders, and other parties to this Agreement via the delinquency is Indenture Trustee's internet website. The Indenture Trustee's internet website shall initially be located at "www.jpmorgan.com/sfr". Assistance in respect of any Balloon Payment, (D) using the aggregate amount of unrewebsite can be obtained by ca▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇&▇▇stee's customer service desk at 877-722-1095. Parties that are unable to use the above website are entitled ▇▇ Advances ▇▇▇▇ ▇ ▇aper copy mailed to them via first class mail by calling the customer service desk and Servicingindicating such. The Indenture Trustee shall have the right to change the way the statements to Securityholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. (b) In addition, with respect to each Payment Date, on the Business Day following the related Determination Date, the Servicer shall forward to the Credit Enhancer and the Rating Agencies the following information for each Capitalization Workout entered into during the related Collection Period: (i) the original Home Equity Loan amount; (ii) the Home Loan amount after the Capitalization Workout; (iii) the original Monthly Payment amount; (iv) the Monthly Payment amount after the Capitalization Workout; (v) the Capitalized Amount as defined in Section 3.02(a)(v) herein; (vi) the CLTV prior to the Capitalization Workout; (vii) the CLTV after the Capitalization Workout; and (viii) if an appraisal was used in determining the CLTV referred to in (vii) above, the type and date of appraisal. (c) The Servicer shall forward to the Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on the Business Day next succeeding each Determination Date, the Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and deposited into the Note Payment Account and/or Distribution Account on the Business Day preceding the related Payment Date pursuant to Section 3.03. The determination by the Servicer of such amounts shall, in the absence of obvious error, be deemed to be presumptively correct for all purposes hereunder, and the Owner Trustee and the Indenture Trustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer's written request, the Servicer shall promptly furnish such information reasonably requested by the Issuer that is reasonably available to the Servicer to enable the Issuer to perform its federal and state income tax reporting obligations.

Statements to Securityholders. Not later than 10:00 A.M. on (a) On or prior to each Determination Payment Date, the Servicer shall provide to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies Trustee and each Paying Agent), and the Indenture Trustee shall forward to each Bondholder of record as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement Rating Agencies) for such Paying Agent the Trustee and the Owner Trustee to forward to each Certificateholder Securityholder of record as (in the case of the most recent Record DateTrustee, pursuant to Section 5.8(b)) the following statements: (a) a statement or statements provided by the Servicer in substantially in the form of attached hereto as Exhibit B, E setting forth, to forth at least the extent applicablefollowing information: (i) the amount, if any, amount of the any distributions allocable to the holders principal of each Class of Bonds on such Distribution Date applied to reduce the aggregate Bond Class Balance thereofNotes; (ii) the amount of the distributions such distribution allocable to holders of interest on or with respect to each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsNotes; (iii) the outstanding Funding Note Pool Balance as of the close of business on the last day of the related Determination DateCollection Period; (iv) the number and Aggregate Stated Principal Note Balance for each Class of outstanding Mortgage Loans in the Mortgage PoolNotes after giving effect to payments allocated to principal reported under clause (i) above; (v) the number amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period, and aggregate Stated Principal Balance the amount of Mortgage Loans any unpaid Servicing Fees and the change in such amount from the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedprior Payment Date; (vi) the amount of the Backup Servicing Fee and the Trustee Fees paid to the Backup Servicer, the Trustee and the Owner Trustee, as applicable, with respect to any REO Property acquired during the related Collection Period, and the Stated Principal Balance amount of any unpaid Backup Servicing Fees and Trustee Fees and the related Mortgage Loan as of change in all such amounts from the date of acquisition of the REO Propertyprior Payment Date; (vii) (A) the most recent appraised value Noteholders’ Interest Carryover Shortfall for each Class of any REO Property as of the related Determination Notes for such Payment Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage Loan; (viii) the aggregate Bond Class Balance of each Class of Bonds before and after giving effect amount, if any, paid to the distributions made on Noteholders from the Series 2012-A Spread Account for such Distribution Payment Date; (ix) the aggregate amount of Principal Prepayments made during in the related Prepayment PeriodSeries 2012-A Spread Account and the change in such amount from the previous Payment Date and the Specified Spread Account Requisite Amount for such Payment Date; (x) the aggregate amount number of servicing compensation retained by or paid to the Servicer Receivables and the Special Serviceraggregate net balance thereon for which the related Obligors are delinquent in making Scheduled Receivable Payments for (a) 31 to 60 days, (b) 61 to 90 days, and (c) 91 days or more; (xi) the amount of Realized Losses, if any, incurred number and the aggregate Purchase Amounts for Receivables purchased by CPS or purchased by the Servicer during the related Collection Period and summary information as to losses and delinquencies with respect to such Receivables; (xii) the Mortgage Loans Principal Balance of all Receivables that have become Liquidated Receivables, net of Recoveries, during the related Collection Period; (xii) the aggregate amount of Servicing Advances and P&I Advances outstanding as of the end of the prior calendar month that have been made by the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately stated; (xiii) the Overcollateralization Level at cumulative Principal Balance of all Receivables that have become Liquidated Receivables, net of Recoveries, during the close period from the Cutoff Date to the last day of business on such Distribution Datethe related Collection Period; (xiv) the amount, if any, withdrawn from amount of any Texas Franchise Tax due and owing by CPS under the Collection Account and paid Receivables Purchase Agreement to the Fiscal Agent, taxing authority of the Indenture Trustee, State of Texas on or prior to the Servicer related Payment Date or paid by CPS since the Special Servicer as reimbursement for Nonrecoverable Advancesprior Payment Date; (xv) the Three-Month Rolling Average Extension Ratio, the Cumulative Net Loss Rate, the Delinquency Ratio and the Three-Month Rolling Average Delinquency Ratio; (xvi) the aggregate Sale Amount with respect to Sold Receivables, if any, during the related Collection Period; (xvii) for any Mortgage Loan Payment Date during the Funding Period, the Pre-Funded Amount and the change in such amount from the previous Payment Date; and (xviii) for the Mandatory Redemption Date, the amount of any remaining Pre-Funded Amount that is delinquent was not used to fund the purchase of Subsequent Receivables. (b) Within 60 days after the end of each calendar year, the Servicer shall deliver to the Trustee a statement setting forth the amounts paid during such preceding calendar year in respect of three or more Monthly Paymentsparagraphs (i), (A) the loan number thereofii), (Bv) the unpaid balance thereof, and (Cvi) whether the delinquency is above. The Trustee shall mail a copy of such statement to each person who at any time during such preceding calendar year shall have been a Securityholder of record and received any payment in respect of any Balloon Paymentthe Securities. (c) The Trustee may make available to the Securityholders, (D) via the aggregate amount Trustee’s Internet Website, all statements described herein and, with the consent or at the direction of unrethe Seller, such other information regarding the Notes and/or the Receivables as the Trustee may have in its possession, but only with the use of a password provided by the Trustee. The Trustee will make no representation or warranties as to the accuracy or completeness of such documents and will assume no responsibility therefor. The Trustee’s Internet Website shall be initially located at “w▇▇.▇▇▇▇▇▇▇▇ .▇&▇ Advances ▇▇” or at such other address as shall be specified by the Trustee from time to time in writing to the Securityholders. In connection with providing access to the Trustee’s Internet Website, the Trustee may require registration and Servicingthe acceptance of a disclaimer. The Trustee shall not be liable for the dissemination of information in accordance with this Agreement. (d) The Servicer will supply to the Trustee, at the time and in the manner required by applicable Treasury Regulations, for further distribution to such Persons, and to the extent, required by applicable Treasury Regulations information with respect to any “original issue discount” accruing on the Class C Notes and the Class D Notes.

Statements to Securityholders. Not later than 10:00 A.M. on On each Determination Payment Date, the Servicer shall provide to the Indenture Trustee, in electronic form Trustee (with a copy to the each Rating Agencies and each Paying Agent), and Agency) for the Indenture Trustee shall to forward to each Bondholder Noteholder of record as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under for the Trust Agreement for such Paying Agent Owner Trustee to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) Date a statement substantially in the form of Exhibit B, respectively, setting forth, forth at least the following information as to the Securities to the extent applicable: (i) the amount, if any, amount of the distributions collections received with respect to the holders of Receivables during the related Collection Period and allocable to principal allocable to each Class of Bonds Notes on such Distribution Date applied to reduce the aggregate Bond Class Balance thereofPayment Date; (ii) the amount of collections received with respect to the distributions Receivables during the related Collection Period and allocable to holders of interest allocable to each Class of Bonds Notes on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsPayment Date; (iii) the outstanding Funding Outstanding Amount of each Class of Notes, the Note Balance Pool Factor for each such Class as of the related Determination Dateclose of business on the last day of the preceding Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (iv) the number amount of the Servicing Fee paid to the Servicer and Aggregate Stated Principal Balance the amount of outstanding Mortgage Loans in any fees payable to the Mortgage PoolOwner Trustee, or the Indenture Trustee with respect to the related Collection Period; (v) the number and aggregate Stated Principal Balance amounts of Mortgage Loans in Realized Losses, if any, with respect to the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedrelated Collection Period; (vi) with respect the balance of the Reserve Account on the related Determination Date after giving effect to any REO Property acquired during deposits and withdrawals to be made on the relevant Payment Date, if any; (vii) the Pool Balance as of the close of business on the last day of the related Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO Property; after giving effect to payments allocated to principal reported under clause (viii) (A) the most recent appraised value of any REO Property as of the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage Loanabove; (viii) the aggregate Bond Class Balance amount of each Class of Bonds before and after giving effect any deposit to the distributions made on Reserve Account and the amount and application of any funds withdrawn from the Reserve Account, in each case with respect to such Distribution Payment Date; (ix) the aggregate amount principal balance of Principal Prepayments made all Receivables that became Liquidated Receivables or Purchased Receivables during the related Prepayment Collection Period; (x) the aggregate amount principal balance and number of servicing compensation retained by Receivables that are 30 to 60 days, 61 to 90 days or paid to 91 days or more delinquent as of the Servicer and the Special Servicer; (xi) the amount last day of Realized Losses, if any, incurred with respect to the Mortgage Loans during the related Collection Period; (xi) any Available Amounts Shortfall after giving effect to payments on such Payment Date, and any change in such amounts from the preceding statement; (xii) the aggregate amount of Servicing Advances and P&I Advances outstanding as of the end of the prior calendar month Purchase Amounts for Receivables, if any, that have been made by the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately statedwere purchased during or with respect to such Collection Period; (xiii) the Overcollateralization Level at aggregate Principal Balance and number of all Receivables with respect to which the close of business on such Distribution Daterelated Financed Vehicle was repossessed; (xiv) the amount, if any, withdrawn from the Collection Account aggregate Principal Balance and paid number of Receivables with respect to the Fiscal Agent, the Indenture Trustee, which the Servicer or the Special Servicer as reimbursement for Nonrecoverable Advancesgranted an extension; (xv) the Required Yield Supplement Overcollateralization Amount for the next Collection Period; and (xvi) any amounts distributed to the Certificateholders. Each amount set forth on the Payment Date statement under clauses (i), (ii) or (iv) above shall be expressed as a dollar amount per $1,000 of original principal balance of a Certificate or Note, as applicable. The Indenture Trustee may make any such statement (and, at its option, any additional files containing the same information in an alternative format) available to the applicable Noteholders via [___________]. In connection with respect providing access to the Indenture Trustee's website, the Indenture Trustee may require registration and the acceptance of certain terms and conditions. The Indenture Trustee shall have the right to change the way such statements are distributed in order to make such distributions more convenient and/or more accessible to the above parties regarding any such changes; provided, however, that the Indenture Trustee will also mail copies of any such statements to any Mortgage Loan that is delinquent in respect of three or more Monthly Payments, (A) the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances and Servicingrequesting Noteholder.

Statements to Securityholders. Not later than 10:00 A.M. on On each Determination Date, Distribution Date the Servicer shall provide to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), and the Indenture Trustee shall forward or cause to be forwarded by mail to each Bondholder Holder of record as of the most recent Record Date a Security and to the Owner Trustee (with Seller, the Loan Seller and the Master Servicer a copy statement as to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: distribution setting forth: (a) a statement substantially in the form amount of Exhibit B, setting forth, such distribution to the extent applicable: (i) the amount, if any, of the distributions to the holders Securityholders of each Class of Bonds on such Distribution Date applied to reduce the aggregate Bond Class Security Principal Balance thereof, (b) the aggregate amount included therein representing Principal Prepayments, (c) the Class FXA Prepayment Percentage with respect to the Class FXA Securities, the Class A Prepayment Percentage with respect to the Class A Securities, the Class FX Lockout Prepayment Percentage with respect to the Class FX Lockout Securities, the Class A Lockout Prepayment Percentage with respect to the Class A Lockout Securities and the Class B Percentage applicable to such distribution and (d) the aggregate of the Stated Principal Balances of any Mortgage Loans repurchased during the related Prepayment Period (on aggregate basis and on a Loan Group by Loan Group basis); (ii) the amount of such distribution to the distributions to holders Securityholders of each such Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment Premiums; (iii) the outstanding Funding Note Balance as amount of related servicing compensation and the amount of servicing compensation attributable to penalties and fees received by or on behalf of the related Determination DateMaster Servicer and any Sub-Servicers with respect to such Distribution Date and such other customary information as the Master Servicer deems necessary or desirable and supplies to the Trustee, or which a Securityholder reasonably requests, to enable Securityholders to prepare their tax returns; (iv) the number and Aggregate Stated Principal Balance amount of outstanding Mortgage Loans Advances (other than Servicing Advance), presented in the Mortgage Poolaggregate and the amount of principal and the amount of interest Advances included in such distribution on such Distribution Date; (v) the number and aggregate Stated Principal Balance of the Mortgage Loans in at the close of business on such Distribution Date (on an aggregate basis and on a Loan Group-by-Loan Group basis); (vi) the Security Principal Balance of a Single Security of such Class, the aggregate Security Principal Balance of the Class FXA-1 Securities, Class FXA-3 Securities, Class FXA-4 Securities, Class FXA-5 Securities, Class FXA-6 Securities, Class FXA-7 Securities, Class FXA-8 Securities, Class FXA-9 Securities, Class FXA-10 Securities, Class FXA-11 Securities, Class A-1 Securities, Class A-2 Securities, Class A-3 Securities, Class A-5 Securities, Class A-6 Securities, Class A-7 Securities, Class A-8 Securities, Class FXP Securities, Class P Securities, Class B-1 Securities, Class B-2 Securities, Class 100 B-3 Securities, Class B-4 Securities, Class B-5 Securities and Class B-6 Securities, respectively, the Notional Amounts for the Class FXS Securities, the Class FXA-2 Securities, the Class S Securities and the Class A-4 Securities, the Class FXA Percentage, the Class A Percentage, the Class B-1 Percentage, the Class B-2 Percentage, the Class B-3 Percentage, the Class B-4 Percentage, Class B-5 Percentage and the Class B-6 Percentage after giving effect to the amounts distributed on such Distribution Date separately identifying any reduction thereof due to Realized Losses other than pursuant to an actual distribution of principal (on an aggregate basis and on a Loan Group-by-Loan Group basis); (vii) the number and aggregate Stated Principal Balance of Mortgage Pool Loans (Aa) delinquent one month31 to 60 days, (Bb) delinquent two months, 61 to 90 days and (Cc) delinquent three 91 days or more months or (Don an aggregate basis and on a Loan Group-by-Loan Group basis) as of the close of business on the Determination Date to which such distribution relates; (viii) the number and aggregate Stated Principal Balance of Mortgage Loans as to which foreclosure proceedings have been commencedcommenced in each case as of the related Determination Date and which are (a) delinquent 31 to 60 days, (b) delinquent 61 to 90 days and (c) delinquent 91 days or more (on an aggregate basis and on a Loan Group-by-Loan Group basis) as of the close of business on the Determination Date to which such distribution relates; (viix) the number and aggregate Stated Principal Balance of Mortgage Loans as to which bankruptcy proceedings have been commenced in each case as of the related Determination Date and which are (a) delinquent 31 to 60 days, (b) delinquent 61 to 90 days and (c) delinquent 91 days or more (on an aggregate basis and on a Loan Group-by-Loan Group basis) as of the close of business on the Determination Date to which such distribution relates; (x) with respect to any Mortgage Loan that became a REO Property acquired during the related Collection Periodpreceding calendar month, the loan number and Stated Principal Balance of the related such Mortgage Loan as of the close of business on the Distribution Date in such month and the date of acquisition of the REO Propertythereof; (vii) (Axi) the most recent appraised book value of any REO Property as of the related Determination Date, (B) as to any REO Property sold during close of business on the related Collection Period, the date last Business Day of the related determination by calendar month preceding the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage Loan; (viii) the aggregate Bond Class Balance of each Class of Bonds before and after giving effect to the distributions made on such Distribution Date; (ix) the aggregate amount of Principal Prepayments made during the related Prepayment Period; (x) the aggregate amount of servicing compensation retained by or paid to the Servicer and the Special Servicer; (xi) the amount of Realized Losses, if any, incurred with respect to the Mortgage Loans during the related Collection Period; (xii) the aggregate amount of Servicing Advances and P&I Advances outstanding as of Pass-Through Rate in effect for the end of the prior preceding calendar month that have been made by with respect to each Class of Securities (other than the Servicer, the Special Servicer, the Indenture Trustee Principal Only Securities and the Fiscal Agent, separately stated;Residual Securities); 101 (xiii) the Overcollateralization Level at remaining aggregate Security Principal Balance of each Class of Securities, after giving effect to the close of business distribution made on such Distribution Date; (xiv) the amountSpecial Hazard Amount, if any, withdrawn from the Collection Account Fraud Loss Amount and paid to the Fiscal Agent, the Indenture Trustee, the Servicer or the Special Servicer as reimbursement for Nonrecoverable AdvancesBankruptcy Amount remaining available immediately after such Distribution Date; (xv) the aggregate Realized Losses incurred since the Cut-off Date (on an aggregate basis and on a Loan Group-by-Loan Group basis); and (xvi) the amount of any Excess Proceeds distributed to each Class of Securities and the remaining balance of the Excess Proceeds Account, if any, on such Distribution Date, after giving effect to distributions made on such date. In the case of information furnished pursuant to subclauses (i)-(iii) above, the amounts shall also be expressed as a dollar amount per Single Security. Within a reasonable period of time after the end of each calendar year, the Trustee shall prepare and forward, to each Person who at any time during the calendar year was a Holder of a Security (other than the Class R or Class RP Securities) a statement containing the information set forth in subclauses (i)-(iii) above, aggregated for such calendar year or applicable portion thereof during which such person was a Securityholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code and regulations thereunder as from time to time are in force. On each Distribution Date the Trustee shall prepare and forward, to each Holder of a Class R or Class RP Security a copy of the reports forwarded to each of the Securityholders (other than the Class R or Class RP Securityholders) on such Distribution Date and a statement setting forth the amounts actually distributed with respect to the Class R or Class RP Securities on such Distribution Date. Within a reasonable period of time after the end of each calendar year, the Trustee shall prepare and forward, to each Person who at any Mortgage Loan time during the calendar year was a Holder of a Class R or Class RP Security a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R or Class RP Securityholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that is delinquent substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time are in respect of three or more Monthly Payments, (A) the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances and Servicingforce.

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Servicer shall provide forward to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), and the Indenture Trustee Trustee, pursuant to Section 3.26 of the Indenture, shall forward or cause to be forwarded by mail to each Bondholder of record Certificateholder, each Noteholder, the Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement setting forth the following information as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amountaggregate amount of (a) Interest Collections, if any(b) Principal Collections (and, of the distributions with respect to any Payment Date relating to the holders of each Class of Bonds on Managed Amortization Period, Net Principal Collections) and (c) Substitution Adjustment Amounts for such Distribution Date applied to reduce the aggregate Bond Class Balance thereofCollection Period; (ii) the amount of such distribution as principal to the distributions to holders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsNoteholders; (iii) the outstanding Funding Note Balance amount of such distribution as interest to the Noteholders, the amount thereof, if any, payable in respect of unpaid Interest Shortfalls, and the amount of any Interest Shortfalls for the related Determination Payment Date; (iv) the number Policy Draw Amount, if any, for such Payment Date and Aggregate Stated Principal Balance the aggregate amount of outstanding Mortgage Loans in prior draws on the Mortgage PoolPolicy thereunder not yet reimbursed; (v) the number and aggregate Stated Principal Balance amount of Mortgage Loans in such distribution to the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedCertificateholders; (vi) with respect to any REO Property acquired during the related Collection Period, the Stated aggregate Principal Balance of the related Mortgage Loan Loans as of the date of acquisition end of the REO Propertypreceding Collection Period; (vii) the number and aggregate Principal Balances of Mortgage Loans (A) the most recent appraised value of any REO Property as of the related Determination Date, (Ba) as to any REO Property sold during which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days and 90 or more days, respectively, (b) the related Collection Period, the date Mortgaged Property of which has been foreclosed upon and (c) as to which the related determination by the Special Servicer that it Mortgaged Property has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each become REO Property during the related Collection Period and credited to the Collection AccountProperty, in each case identifying such REO Property by the loan number as of the related Mortgage Loanend of the preceding Collection Period; provided, however, that such information shall not be provided on the statements relating to the first Payment Date; (viii) the aggregate Bond Class Balance of each Class of Bonds before and after giving effect to the distributions made on such Distribution Date; (ix) the aggregate amount of Principal Prepayments made during the related Prepayment Period; (x) the aggregate amount of servicing compensation retained by or paid to the Servicer and the Special Servicer; (xi) the amount of Realized Losses, if any, incurred with respect to the Mortgage Loans during Weighted Average Net Loan Rate for the related Collection Period; (xiiix) prior to the second Determination Date following the commencement of the Rapid Amortization Period, the aggregate amount of Servicing Advances and P&I Advances outstanding as Additional Balances created during the previous Collection Period conveyed to the Issuer prior to the commencement of the end of the prior calendar month that have been made by the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately statedRapid Amortization Period; (x) [Reserved] (xi) [Reserved] (xii) [Reserved] (xiii) the Overcollateralization Level at aggregate Liquidation Loss Amounts with respect to the close related Collection Period, the amount distributed as principal to Noteholders in respect of business on such Distribution DateLiquidation Loss Amounts and the aggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as dollar amount and as a percentage of the aggregate Cut-Off Date Principal Balances of the Mortgage Loans; (xiv) the amount, if any, withdrawn from aggregate Note Balance of each Class of Notes and the Collection Account and paid Certificate Balance of the Certificates after giving effect to the Fiscal Agent, the Indenture Trustee, the Servicer or the Special Servicer as reimbursement for Nonrecoverable Advancesdistribution of principal on such Payment Date; (xv) the Percentage Interest applicable to each of the Securities, after application of payments made on such Payment Date; and (xvi) the Outstanding Overcollateralization Amount immediately following such Payment Date. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Term Note, Variable Funding Note or Certificate, as applicable, with respect a $25,000 denomination. If a Managed Amortization Event, a Rapid Amortization Event or a Servicing Default shall occur, on the Business Day following the related Determination Date, the Servicer shall forward to the Indenture Trustee, and the Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall forward or cause to be forwarded by mail to each Certificateholder, each Noteholder, the Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement to such effect, including, in the case of a Rapid Amortization Event or a Servicing Default, the nature thereof. Such statement may be included in, or separate from, the regular statement sent to Securityholders. (b) The Servicer shall forward to the Indenture Trustee any Mortgage Loan other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on the Business Day next succeeding each Determination Date, the Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and deposited into the Note Payment Account or Distribution Account on the Business Day preceding the related Payment Date pursuant to Section 3.03. The determination by the Servicer of such amounts shall, in the absence of obvious error, be deemed to be presumptively correct for all purposes hereunder, and the Owner Trustee and the Indenture Trustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer's written request, the Servicer shall promptly furnish such information reasonably requested by the Issuer that is delinquent in respect of three or more Monthly Payments, (A) reasonably available to the loan number thereof, (B) Servicer to enable the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances Issuer to perform its federal and Servicingstate income tax reporting obligations.

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Servicer shall provide forward the Servicing Certificate and a computer file containing mutually agreed upon loan level information to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), and the Indenture Trustee Trustee, pursuant to Section 3.26 of the Indenture, shall forward make such Servicing Certificate available to each Bondholder of record Certificateholder, each Noteholder, the Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent, Bear Stearns Capital Markets Inc. and each Rating ▇▇▇▇▇▇. The Servicing Certificate shall set forth the following information as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amountaggregate amount of (a) Interest Collections, if any(b) Principal Collections, of the distributions to the holders of each Class of Bonds on and (c) Substitution Adjustment Amounts for such Distribution Date applied to reduce the aggregate Bond Class Balance thereofCollection Period; (ii) the amount of such distribution as principal to the distributions to holders Noteholders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsNotes; (iii) the outstanding Funding Note Balance amount of such distribution as interest to the Noteholders of each Class of Notes, the amount thereof, if any, payable in respect of unpaid Interest Shortfalls, and the amount of any Interest Shortfalls for the related Determination Payment Date; (iv) the number Policy Draw Amount, if any, for such Payment Date and Aggregate Stated Principal Balance the aggregate amount of outstanding Mortgage Loans in prior draws on the Mortgage PoolPolicy thereunder not yet reimbursed; (v) the number and aggregate Stated Principal Balance amount of Mortgage Loans in such distribution to the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedCertificateholders; (vi) with respect to any REO Property acquired during the related Collection Period, the Stated aggregate Principal Balance of the related Mortgage Loan Loans as of the date of acquisition end of the REO Propertypreceding Collection Period; (vii) the number and aggregate Principal Balances of Mortgage Loans (A) the most recent appraised value of any REO Property as of the related Determination Date, (Ba) as to any REO Property sold during which the Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days and 150-179 days, respectively, (b) the related Collection Period, the date Mortgaged Property of which has been foreclosed upon and (c) as to which the related determination by the Special Servicer that it Mortgaged Property has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each become REO Property during the related Collection Period and credited to the Collection AccountProperty, in each case identifying such REO Property by the loan number as of the related Mortgage Loanend of the preceding Collection Period; provided, however, that such information shall not be provided on the statements relating to the first Payment Date; (viii) the aggregate Bond Class Balance of each Class of Bonds before and after giving effect Liquidation Loss Amounts with respect to the distributions made on such Distribution Daterelated Collection Period, the amount distributed as principal to Noteholders in respect of Liquidation Loss Amounts and the aggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as dollar amount and as a percentage of the aggregate Cut-Off Date Principal Balances of the Mortgage Loans; (ix) the aggregate amount Note Balance of Principal Prepayments made during each Class of Notes and the related Prepayment PeriodCertificate Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (x) the aggregate amount on deposit in each of servicing compensation retained by or paid to the Servicer Pre-Funding Account and Capitalized Interest Account as of the Special Servicerend of the preceding Collection Period; (xi) the amount Percentage Interest applicable to each of Realized Lossesthe Securities, if any, incurred with respect to after application of payments made on such Payment Date; (xii) the Overcollateralization Amount as of the end of the preceding Collection Period; (xiii) the weighted average of the Net Loan Rates for the Mortgage Loans during for the related Collection Period; (xiixiv) the number and aggregate Principal Balance of Mortgage Loans repurchased pursuant to Section 3.15 herein during such Collection Period; and (xv) the aggregate amount Principal Balance of Servicing Advances Subsequent Mortgage Loans transferred to the Trust Estate. In the case of information furnished pursuant to clauses (ii) and P&I Advances outstanding as of the end of the prior calendar month that have been made by the Servicer(iii) above, the Special Serviceramounts shall be expressed as an aggregate dollar amount per Note, as applicable, with a $25,000 denomination and per Certificate with a denomination equal to a 100% Percentage Interest. In the case of information furnished pursuant to clause (iii) above for the Class A-IO Notes, the Indenture Trustee and amount shall be expressed as an aggregate dollar amount with a $1,000,000 denomination. If a Servicing Default shall occur, on the Fiscal AgentBusiness Day following the related Determination Date, separately stated; (xiii) the Overcollateralization Level at the close of business on such Distribution Date; (xiv) the amount, if any, withdrawn from the Collection Account and paid Servicer shall forward to the Fiscal Agent, the Indenture Trustee, and the Servicer Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall forward or cause to be forwarded by mail to each Certificateholder, each Noteholder, the Special Servicer as reimbursement for Nonrecoverable Advances; Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement to such effect, including the nature of such Servicing Default. Such statement may be included in, or separate from, the regular statement sent to Securityholders. The Indenture Trustee will make the monthly statement to Securityholders (xvand, at its option, any additional files containing the same information in an alternative format) with respect available each month to any Mortgage Loan Securityholders, and other parties to this Agreement via the Indenture Trustee's internet website. The Indenture Trustee's internet website shall initially be located at "www.abs.bankone.com". Assistance in using the webs▇▇▇ ▇▇▇ ▇▇ ▇▇▇▇▇▇ed by calling the Indenture Trustee's customer service desk at 800-524-9472. Parties that is delinquent in respect of three or more Monthly Payments, (A) are unable to use the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unreab▇▇▇ ▇▇▇▇▇▇▇▇ ▇&▇ Advances tion options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and Servicingindicating such. The Indenture Trustee shall have the right to change the way the statements to Securityholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. (b) The Servicer shall forward to the Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on the Business Day next succeeding each Determination Date, the Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and deposited into the Note Payment Account and/or Distribution Account on the Business Day preceding the related Payment Date pursuant to Section 3.03. The determination by the Servicer of such amounts shall, in the absence of obvious error, be deemed to be presumptively correct for all purposes hereunder, and the Owner Trustee and the Indenture Trustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer's written request, the Servicer shall promptly furnish such information reasonably requested by the Issuer that is reasonably available to the Servicer to enable the Issuer to perform its federal and state income tax reporting obligations.

Statements to Securityholders. Not later than 10:00 A.M. on On each Determination Distribution Date, the Servicer shall provide to the Indenture Trustee, in electronic form Trustee (with a copy to the Rating Agencies and each Paying Agent), and ) for the Indenture Trustee shall to forward to each Bondholder Noteholder of record as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under Agent) for the Trust Agreement for such Paying Agent Owner Trustee to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) Date a statement substantially in the form of Exhibit B, setting forth, forth at least the following information as to the Securities to the extent applicable: : (i) the amount of such distribution allocable to principal allocable to each Class of Notes and to the Certificates; (ii) the amount of such distribution allocable to interest allocable to each Class of Notes and to the Certificates; (iii) the Outstanding Amount of each Class of Notes, the Note Pool Factor for each such Class, the Certificate Balance and the Certificate Pool Factor as of the close of business on the last day of the preceding Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (iv) the amount of the Servicing Fee paid to the Servicer and the amount of any fees payable to the Owner Trustee or the Indenture Trustee with respect to the related Collection Period; (v) the aggregate amounts of Realized Losses, if any, and Cram Down Losses, if any, separately identified, with respect to the related Collection Period; (vi) the amount, if any, of the distributions distribution payable pursuant to claims under the holders Policy; (vii) the balance of each Class of Bonds the Spread Account on the related Payment Determination Date after giving effect to deposits and withdrawals to be made on such Distribution Date applied Date, if any; (viii) the Pool Balance as of the close of business on the last day of the related Collection Period, after giving effect to reduce the aggregate Bond Class Balance thereof; payments allocated to principal reported under clause (iii) above. (ix) the amount of the distributions to holders of each any Class of Bonds A-2 Additional Principal Distribution Amount on such Distribution Date allocable to Date; (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment Premiums; (iiix) the outstanding Funding Note Balance as amount of any deposit to the related Determination Date; Spread Account and the amount and application of any funds withdrawn from the Spread Account; (ivxi) the number and Aggregate Stated Principal Balance aggregate principal balance of outstanding Mortgage Loans in the Mortgage Pool; (v) the number and aggregate Stated Principal Balance of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three all Receivables that became Liquidated Receivables or more months or (D) as to which foreclosure proceedings have been commenced; (vi) with respect to any REO Property acquired Purchased Receivables during the related Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO Property; (vii) (A) the most recent appraised value of any REO Property as of the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage Loan; (viii) the aggregate Bond Class Balance of each Class of Bonds before and after giving effect to the distributions made on such Distribution Date; (ix) the aggregate amount of Principal Prepayments made during the related Prepayment Period; (x) the aggregate amount of servicing compensation retained by or paid to the Servicer and the Special Servicer; (xi) the amount of Realized Losses, if any, incurred with respect to the Mortgage Loans during the related Collection Period; ; (xii) the aggregate amount principal balance of Servicing Advances and P&I Advances outstanding as of the end of the prior calendar month Receivables that have been made by the Servicerare 30 to 59 days, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately stated; 60 to 89 days or 90 days or more delinquent; (xiii) the Overcollateralization Level at Class A-1 Interest Carryover Shortfall, the close of business Class A-1 Principal Carryover Shortfall, the Class A-2 Interest Carryover Shortfall, the Class A-2 Principal Carryover Shortfall, the Certificateholders' Interest Carryover Shortfall and the Certificateholders' Principal Carryover Shortfall, if any,in each case after giving effect to payments on such Distribution Date; , and any change in such amounts from the preceding statement; and (xiv) the amountaggregate Purchase Amounts for Receivables, if any, withdrawn from the Collection Account and paid to the Fiscal Agent, the Indenture Trustee, the Servicer that were purchased during or the Special Servicer as reimbursement for Nonrecoverable Advances; (xv) with respect to any Mortgage Loan that is delinquent in respect of three or more Monthly Paymentssuch Collection Period. Each amount set forth on the Distribution Date statement under clauses (i), (A) the loan number thereofii), (B) the unpaid balance thereofvi), (Cix) whether the delinquency is in respect and (xiii) above shall be expressed as a dollar amount per $1,000 of any Balloon Paymentoriginal principal balance of a Certificate or Note, (D) the aggregate amount of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances and Servicingas applicable.

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Servicer shall provide forward to the Indenture Trustee, in electronic form (with a copy Trustee the Loan information reasonably available to the Rating Agencies and each Paying Agent), and Servicer with respect to the Loans as the Indenture Trustee may reasonably request in order for the Indenture Trustee to perform the calculations necessary to prepare the statements contemplated by this Section 4.01 (the "Servicing Certificate"). The Indenture Trustee pursuant to Section 3.23 of the Indenture shall forward or cause to be forwarded by mail to each Bondholder of record Certificateholder, Noteholder, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement setting forth the following information as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amountaggregate amount of (a) Interest Remittance Amount, if any, of the distributions to the holders of each Class of Bonds on such Distribution Date applied to reduce the aggregate Bond Class Balance thereof(b) Principal Remittance Amount and (c) Substitution Amounts; (ii) the amount of such distribution as principal to the distributions to holders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsNoteholders; (iii) the outstanding Funding Note Balance amount of such distribution as interest to the Noteholders, separately stating the portion thereof in respect of the related Determination Dateoverdue accrued interest; (iv) the number and Aggregate Stated Principal Loan Balance of outstanding Mortgage the Loans in as of the Mortgage Poolend of the related Collection Period; (v) the number and aggregate Stated Principal Balance Balances of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (Da) as to which foreclosure proceedings the Monthly Payment is Delinquent for 30-59 days, 60-89 days and 90 or more days, respectively, (b) that are foreclosed, (c) that have become REO, and (d) that have been commencedfinally liquidated due to being 180 days or more delinquent, in each case as of the end of the related Collection Period; PROVIDED, HOWEVER, that such information will not be provided on the statements relating to the first Payment Date; (vi) with respect to any REO Property acquired during the weighted average Loan Rate for the related Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO Property; (vii) (A) the most recent appraised value of any REO Property as of the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited Class Principal Balance after giving effect to the Collection Account, in each case identifying distribution of principal on such REO Property by the loan number of the related Mortgage LoanPayment Date; (viii) the aggregate Bond Class Balance of each Class of Bonds before and after giving effect to the distributions made on Certificate Distribution Amount immediately following such Distribution Payment Date; (ix) the aggregate amount of Principal Prepayments made during Servicing Fees for the related Prepayment Collection Period; (x) the aggregate amount of servicing compensation retained by or paid to the Servicer Overcollateralization Amount and the Special ServicerTargeted Overcollateralization Amount immediately following such Payment Date; (xi) the number and principal amount of Realized Losses, if any, incurred with respect Capitalization Workouts pursuant to Section 3.02(a)(v) entered into since the Mortgage Loans during the related Collection PeriodClosing Date; (xii) the aggregate amount recovered during the related Collection Period consisting of Servicing Advances and P&I Advances outstanding as of the end of the prior calendar month all subsequent recoveries on any Loan that have been made by the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately stated;was 180 days or more delinquent; and (xiii) the Overcollateralization Level at related Basis Risk Shortfall for the Class A, Class M-1 and Class B-1 Notes and the Available Funds Shortfall for the Class B-2 Notes on each Payment Date. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Note or Certificate, as applicable, with a $1,000 denomination. (b) In addition, with respect to each Payment Date, on the Business Day following the related Determination Date, the Servicer shall forward to the Rating Agencies the following information for each Capitalization Workout entered into during the related Collection Period: (i) the original Loan amount; (ii) the Loan amount after the Capitalization Workout; (iii) the original Monthly Payment amount; (iv) the Monthly Payment amount after the Capitalization Workout; (v) the Capitalized Amount as defined in Section 3.02(a)(v) herein; (vi) the Combined Loan-to-Value Ratio prior to the Capitalization Workout; (vii) the Combined Loan-to-Value Ratio after the Capitalization Workout; and (viii) if an appraisal was used in determining the Combined Loan-to-Value Ratio referred to in (vii) above, the type and date of appraisal. The Servicer shall also forward to the Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on such Distribution the Business Day next succeeding each Determination Date; (xiv) , the amount, if any, Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Collection Custodial Account and paid deposited into the Payment Account on the Business Day preceding the related Payment Date pursuant to Section 3.03. The determination by the Fiscal AgentServicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be correct for all purposes hereunder and the Owner Trustee and Indenture TrusteeTrustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer's written request, the Servicer or shall promptly furnish information reasonably requested by the Special Servicer as reimbursement for Nonrecoverable Advances; (xv) with respect to any Mortgage Loan Issuer that is delinquent in respect of three or more Monthly Payments, (A) reasonably available to the loan number thereof, (B) Servicer to enable the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances Issuer to perform its federal and Servicingstate income tax reporting obligations.

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Servicer shall provide forward the Servicing Certificate to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), and the Indenture Trustee Trustee, pursuant to Section 3.26 of the Indenture, shall forward make such Servicing Certificate available to each Bondholder of record Certificateholder, each Noteholder, the Depositor, the Owner Trustee, the Certificate Paying Agent, each Rating Agency and the Enhancer. The Servicing Certificate shall set forth the following information as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amountaggregate amount of (a) Interest Collections, if any(b) Principal Collections (and, of the distributions with respect to any Payment Date relating to the holders of each Class of Bonds on such Distribution Date applied to reduce Managed Amortization Period, Net Principal Collections), (c) Substitution Adjustment Amounts and (d) Excess Spread, for the aggregate Bond Class Balance thereofrelated Collection Period; (ii) the amount of such distribution as principal to the distributions to holders Noteholders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsNotes; (iii) the outstanding Funding Note Balance amount of such distribution as interest to the Noteholders of each Class of Notes, the amount thereof, if any, payable in respect of unpaid Interest Shortfalls, and the amount of any Interest Shortfalls and Relief Act Shortfalls for the related Determination Payment Date; (iv) each Policy Draw Amount, if any, for such Payment Date and the number and Aggregate Stated Principal Balance aggregate amount of outstanding Mortgage Loans in prior draws on the Mortgage PoolPolicy thereunder not yet reimbursed; (v) the number and aggregate Stated Principal Balance amount of Mortgage Loans in such distribution to the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedCertificateholders; (vi) with respect the amount of any Additional Balance Increase Amount payable to any REO Property acquired during the related Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO PropertyCertificateholders; (vii) (A) the most recent appraised value aggregate Principal Balance of any REO Property the Mortgage Loans as of the related Determination Date, (B) as to any REO Property sold during end of the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage Loan; (viii) the number and aggregate Bond Class Balance Principal Balances of Mortgage Loans (a) as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days, 150-179 days and greater than 180 days, respectively, (b) the related Mortgaged Property of which has been foreclosed upon and (c) as to which the related Mortgaged Property has become REO Property, in each Class case as of Bonds before and after giving effect the end of the related Collection Period; provided, however, that such information shall not be provided on the statements relating to the distributions made on such Distribution first Payment Date; (ix) the number and aggregate amount Principal Balance of Principal Prepayments made during the related Prepayment Period; (x) the aggregate amount of servicing compensation retained by or paid to the Servicer and the Special Servicer; (xi) the amount of Realized Losses, if any, incurred with respect to the Mortgage Loans repurchased pursuant to Section 3.15(a) herein during the related Collection Period; (x) the Net WAC Rate for the related Collection Period; (xi) prior to the second Determination Date following the commencement of the Rapid Amortization Period, the aggregate amount of Additional Balances created during the related Collection Period and conveyed to the Issuer prior to the commencement of such Rapid Amortization Period; (xii) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount distributed as principal to Noteholders or paid to the Funding Account in respect of Servicing Advances Liquidation Loss Amounts and P&I Advances outstanding as the aggregate of the end Liquidation Loss Amounts (minus any Subsequent Net Recovery Amounts) from all Collection Periods to date expressed as dollar amount and as a percentage of the prior calendar month that have been made by aggregate Cut-Off Date Principal Balances of the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately statedMortgage Loans; (xiii) the Overcollateralization Level at aggregate Note Balance of each Class of Notes and the close Certificate Balance of business each Class of the Certificates after giving effect to the distribution of principal on such Distribution Payment Date; (xiv) the amountbalance of the Pre-Funding Account, if anyCapitalized Interest Account, withdrawn from the Collection Funding Account and paid to the Fiscal Agent, Reserve Sub-Account as of the Indenture Trustee, end of the Servicer or the Special Servicer as reimbursement for Nonrecoverable Advancesrelated Collection Period; (xv) with respect the Percentage Interest applicable to any Mortgage Loan that is delinquent in respect each of three or more Monthly Paymentsthe Securities, after application of payments made on such Payment Date; (Axvi) the loan number thereof, (B) Overcollateralization Amount as of the unpaid balance thereof, (C) end of the related Collection Period and whether the delinquency Excess Spread Test is in respect satisfied as of any Balloon Payment, the end of the related Collection Period; and (Dxvii) the aggregate Principal Balance of Subsequent Mortgage Loans transferred to the Trust Estate during the related Collection Period. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Note or Certificate, as applicable, with a $25,000 denomination per Note and with a denomination equal to a 100% Percentage Interest per Certificate. If a Rapid Amortization Event or a Servicing Default shall occur, on the Business Day following the related Determination Date, the Servicer shall forward to the Indenture Trustee a statement to such effect, including the nature of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances such Rapid Amortization Event or Servicing Default. Upon the Servicer's becoming aware of any Early Amortization Event, the Servicer shall forward to the Indenture Trustee a statement to such effect, including the nature of such Early Amortization Event. The Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall deliver or cause to be delivered by mail to each Certificateholder, each Noteholder, the Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and Servicingeach Rating Agency, notice of such Rapid Amortization Event, Early Amortization Event or Servicing Default, including the nature thereof. Such statement may be included in, or separate from, the regular statement made available to Securityholders.

Statements to Securityholders. Not later than 10:00 A.M. on On each Determination Payment Date, the Servicer shall provide to the Indenture Trustee, in electronic form Trustee (with a copy to the each Rating Agencies and each Paying Agent), and Agency) for the Indenture Trustee shall to forward to each Bondholder Noteholder of record as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under for the Trust Agreement for such Paying Agent Owner Trustee to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) Date a statement substantially in the form of Exhibit B, respectively, setting forth, forth at least the following information as to the Securities to the extent applicable: (i) the amount, if any, amount of the distributions collections received with respect to the holders of Receivables during the related Collection Period and allocable to principal allocable to each Class of Bonds Notes on such Distribution Date applied to reduce the aggregate Bond Class Balance thereofPayment Date; (ii) the amount of collections received with respect to the distributions Receivables during the related Collection Period and allocable to holders of interest allocable to each Class of Bonds Notes on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsPayment Date; (iii) the outstanding Funding Outstanding Amount of each Class of Notes, the Note Balance Pool Factor for each such Class as of the related Determination Dateclose of business on the last day of the preceding Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (iv) the number amount of the Servicing Fee paid to the Servicer and Aggregate Stated Principal Balance the amount of outstanding Mortgage Loans in any fees payable to the Mortgage PoolOwner Trustee, or the Indenture Trustee with respect to the related Collection Period; (v) the number and aggregate Stated Principal Balance amounts of Mortgage Loans in Realized Losses, if any, with respect to the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedrelated Collection Period; (vi) with respect the balance of the Reserve Account on the related Determination Date after giving effect to any REO Property acquired during deposits and withdrawals to be made on the relevant Payment Date, if any; (vii) the Pool Balance as of the close of business on the last day of the related Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO Property; after giving effect to payments allocated to principal reported under clause (viii) (A) the most recent appraised value of any REO Property as of the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage Loanabove; (viii) the aggregate Bond Class Balance amount of each Class of Bonds before and after giving effect any deposit to the distributions made on Reserve Account and the amount and application of any funds withdrawn from the Reserve Account, in each case with respect to such Distribution Payment Date; (ix) the aggregate amount principal balance of Principal Prepayments made all Receivables that became Liquidated Receivables or Purchased Receivables during the related Prepayment Collection Period; (x) the aggregate amount principal balance and number of servicing compensation retained by Receivables that are 30 to 60 days, 61 to 90 days or paid to 91 days or more delinquent as of the Servicer and the Special Servicer; (xi) the amount last day of Realized Losses, if any, incurred with respect to the Mortgage Loans during the related Collection Period; (xi) any Available Amounts Shortfall after giving effect to payments on such Payment Date, and any change in such amounts from the preceding statement; (xii) the aggregate amount of Servicing Advances and P&I Advances outstanding as of the end of the prior calendar month Purchase Amounts for Receivables, if any, that have been made by the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately statedwere purchased during or with respect to such Collection Period; (xiii) the Overcollateralization Level at aggregate Principal Balance and number of all Receivables with respect to which the close of business on such Distribution Daterelated Financed Vehicle was repossessed; (xiv) the amount, if any, withdrawn from the Collection Account aggregate Principal Balance and paid number of Receivables with respect to the Fiscal Agent, the Indenture Trustee, which the Servicer or the Special Servicer as reimbursement for Nonrecoverable Advancesgranted an extension; (xv) with respect the Required Yield Supplement Overcollateralization Amount for the next Collection Period; and (xvi) any amounts distributed to any Mortgage Loan that is delinquent in respect of three or more Monthly Paymentsthe Certificateholders. Each amount set forth on the Payment Date statement under clauses (i), (Aii) or (iv) above shall be expressed as a dollar amount per $1,000 of original principal balance of a Certificate or Note, as applicable. The Indenture Trustee may make any such statement (and, at its option, any additional files containing the loan number thereof, (Bsame information in an alternative format) available to the unpaid balance thereof, (C) whether applicable Noteholders via www.CTSLink.com. In connection with providing access to the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unreIndenture ▇▇▇▇▇▇▇'▇ ▇&▇ Advances ▇▇▇ite, the Indenture Trustee may require registration and Servicingthe acceptance of a disclaimer. The Indenture Trustee shall have the right to change the way such statements are distributed in order to make such distributions more convenient and/or more accessible to the above parties regarding any such changes; provided, however, that the Indenture Trustee will also mail copies of any such statements to any requesting Noteholder.

Statements to Securityholders. Not later than 10:00 A.M. on (a) On or before each Determination Distribution Date, the Master Servicer shall provide to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), and the Indenture Trustee shall forward to each Bondholder of record as of the most recent Record Date and to the Owner Trustee (with a copy copies to each Paying Agent under the Trust Agreement for such Paying Agent Depositor and the Rating Agencies) to forward to each Certificateholder of record as record, and to the Indenture Trustee, to forward to each Noteholder of record, a statement, based on the most recent Record Date) related Master Servicer's Certificate setting forth at least the following statements: (a) a statement information as to the Securities with respect to the related Distribution Date and Collection Period, in substantially in the form of Exhibit B, setting forth, to the extent applicable: (i) the amount, if any, amount of the distributions such distribution allocable to the holders of principal for each Class of Bonds on such Distribution Date applied to reduce the aggregate Bond Class Balance thereofNotes; (ii) the amount of the distributions to holders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsPriority Principal Distributable Amount; (iii) the outstanding Funding Note Balance as of the related Determination DateSecondary Principal Distributable Amount; (iv) the number and Aggregate Stated Regular Principal Balance of outstanding Mortgage Loans in the Mortgage PoolDistributable Amount; (v) the number amount of such distribution allocable to current and aggregate Stated Principal Balance overdue interest (including any interest on overdue interest) for each Class of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedNotes; (vi) with respect to any REO Property acquired during the related Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO PropertyTotal Servicing Fee; (vii) (A) the most recent appraised value of any REO Property as of the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage LoanTotal Trustee Fees; (viii) the aggregate Bond Class Balance outstanding principal amount of each Class of Bonds before Notes and the Note Pool Factor with respect to each Class of Notes (in each case after giving effect to the distributions made on such Distribution Datepayments allocated to principal reported under clause (i) above); (ix) the aggregate amount Pool Balance as of Principal Prepayments made during the close of business on the last day of the related Prepayment Collection Period; (x) the aggregate amount of servicing compensation retained by Reserve Fund Amount on such Distribution Date (after giving effect to all deposits to or paid to withdrawals from the Servicer Reserve Fund on such Distribution Date) and the Special ServicerReserve Fund Draw Amount; (xi) the amount aggregate Purchase Amount of Realized LossesReceivables repurchased by the Seller or purchased by the Master Servicer, if any, incurred with respect to the Mortgage Loans during the related Collection Period; (xii) the number and aggregate amount Principal Balance of Servicing Advances and P&I Advances outstanding Receivables that were 30-59 days, 60-89 days or 90 days or more delinquent as of the end last day of the prior calendar month that have been made by the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately statedrelated Collection Period; (xiii) the Nonrecoverable Advances, if any; (xiv) the Net Losses with respect to the related Collection Period; (xv) the Overcollateralization Level at Target Amount and the close of business amount by which the Pool Balance exceeds the Note Balance (after giving effect to any payments made to the Noteholders on such Distribution Date); (xivxvi) the amount of Available Collections; (xvii) the Cumulative Net Loss Percentage and the Sequential Payment Trigger; (xviii) the Yield Supplement Account Draw Amount; (xix) the amount of Excess Collections; (xx) the amount, if any, withdrawn from the Pre-Funding Account to purchase Subsequent Receivables; (xxi) the Pre-Funding Account Amount, if any; (xxii) the Negative Carry Account Draw Amount; (xxiii) investment earnings on amounts on deposit in the Pre-Funding Account during such Collection Period, if any; and (xxiv) for the Distribution Date following the Collection Period in which the Pre-Funding Period ends, the Pre-Funding Account and Amount that is being paid to the Fiscal AgentNoteholders as an additional payment of principal on the Notes in accordance with the final paragraph of Section 2.08(b) of the Indenture. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of the Issuer, but not later than the latest date permitted by law, the Indenture related Trustee, the Servicer or the Special Servicer as reimbursement for Nonrecoverable Advances; (xv) with respect to any Mortgage Loan that is delinquent in respect of three or more Monthly Payments, (A) the loan number upon receipt thereof, (B) shall mail to each Person who at any time during such calendar year shall have been a Securityholder, a statement, prepared by the unpaid balance thereofMaster Servicer, (C) whether containing certain information for such calendar year or, in the delinquency is in respect event such Person shall have been a Securityholder during a portion of such calendar year, for the applicable portion of such year, for the purposes of such Securityholder's preparation of federal income tax returns. In addition, the Master Servicer shall furnish to the Trustees for distribution to such Person at such time any Balloon Payment, (D) other information necessary under applicable law for the aggregate amount preparation of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances and Servicingsuch income tax returns.

Statements to Securityholders. Not later than 10:00 A.M. on (a) With respect to each Determination Payment Date, the Servicer shall provide forward to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), Trustee and the Indenture Trustee pursuant to Section 3.26 of the Indenture shall forward or cause to be forwarded by mail to each Bondholder of record Certificateholder, Noteholder, the Credit Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement setting forth the following information as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amount, if any, aggregate amount of the distributions (a) Security Interest Collections with respect to the holders of each Class of Bonds on such Distribution Date applied Notes and the Certificates, (b) aggregate Security Principal Collections with respect to reduce the aggregate Bond Class Balance thereofNotes and the Certificates and (c) Security Collections for the related Collection Period with respect to the Notes and the Certificates; (ii) the amount of such distribution to the distributions Securityholders of the Notes and the Certificates applied to holders reduce the principal balance thereof and separately stating the portion thereof in respect of each Class of Bonds the Accelerated Principal Distribution Amount and the amount to be deposited in the Funding Account on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsPayment Date; (iii) the outstanding Funding Note Balance as amount of such distribution to the Securityholders of the related Determination DateNotes and the Certificates allocable to interest and separately stating the portion thereof in respect of overdue accrued interest; (iv) the number Credit Enhancement Draw Amount, if any, for such Payment Date and Aggregate Stated Principal Balance the aggregate amount of outstanding Mortgage Loans in the Mortgage Poolprior draws thereunder not yet reimbursed; (v) the number and aggregate Stated Principal Balance of Mortgage Loans in (a) the ________ Loans, (b) the ______ Loans, (c) the _________ Loans, as of the end of the preceding Collection Period and (d) all of the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedLoans; (vi) with respect the number and aggregate Principal Balances of Mortgage Loans (a) as to any REO Property acquired during which the related Collection PeriodMinimum Monthly Payment is delinquent for 30-59 days, the Stated Principal Balance of the related Mortgage Loan 60-89 days, 90-179 days and 180 or more days, respectively and (b) that have become REO, in each case as of the date of acquisition end of the REO Propertypreceding Collection Period; PROVIDED, HOWEVER, that such information will not be provided on the statements relating to the first Payment Date; (vii) (A) the most recent appraised value of any REO Property as of the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during Weighted Average Net Mortgage Rate for the related Collection Period and credited to the Collection AccountWeighted Average Net Mortgage Rate for (a) the ________ Loans, in each case identifying such REO Property by (b) the loan number of _______Loans and (c) the _________ Loans for the related Mortgage LoanCollection Period; (viii) the aggregate Bond Class Balance Special Capital Distribution Amount and the Required Special Capital Distribution Amount, in each case as the end of each Class of Bonds before and after giving effect to the distributions made on such Distribution Date;related Collection Period; and (ix) the aggregate amount of Principal Prepayments made Additional Loans acquired during the related Prepayment Periodprevious Collection Period with amounts in respect of Net Principal Collections from the Funding Account; (x) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount of servicing compensation retained by or paid any remaining Carryover Loss Amount with respect to the Servicer Notes and Certificates, respectively, and the Special Serviceraggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as a percentage of the sum of (a) the Cut-Off Date Pool Balance and (b) the amount by which the Pool Balance as of the latest date that the Additional Loans have been transferred to the Depositor exceeds the Cut-Off Date Pool Balance; (xi) any unpaid interest on the amount of Realized LossesNotes and Certificates, if anyrespectively, incurred with respect to the Mortgage Loans during the related Collection Periodafter such Distribution Date; (xii) the aggregate amount Principal Balance of Servicing Advances each Class of Notes and P&I Advances outstanding as of the end Certificates after giving effect to the distribution of the prior calendar month that have been made by the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately statedprincipal on such Payment Date; (xiii) the Overcollateralization Level at respective Security Percentage applicable to the Notes and Certificates, after application of payments made on such Payment Date; and (xiv) the amount distributed pursuant to Section 3.05(a)(xi) of the Indenture on such Payment Date. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Note or Certificate with a $1,000 denomination. Prior to the close of business on such Distribution the Business Day next succeeding each Determination Date; , the Servicer shall furnish a written statement to the Depositor, the Owner Trustee, the Depositor, the Certificate Paying Agent and the Indenture Trustee setting forth (xivi) all the foregoing information, (ii) the amount, if any, aggregate amounts required to be withdrawn from the Collection Account and paid deposited into the Payment Account on the Business Day preceding the Payment Date pursuant to Section 3.03 and (iii) the amounts (A) withdrawn from the Payment Account and deposited to the Fiscal Agent, Funding Account pursuant to Section 8.02(b) of the Indenture Trusteeand (B) withdrawn from the Funding Account and deposited to the Collection Account pursuant to Section 8.02(c)(i) of the Indenture. The determination by the Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be correct for all purposes hereunder and the Owner Trustee and Indenture Trustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Depositor's written request, the Servicer or shall promptly furnish information reasonably requested by the Special Servicer as reimbursement for Nonrecoverable Advances; (xv) with respect to any Mortgage Loan Depositor that is delinquent in respect of three or more Monthly Payments, (A) reasonably available to the loan number thereof, (B) Servicer to enable the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances Depositor to perform its federal and Servicingstate income tax reporting obligations.

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Servicer shall provide forward the Servicing Certificate to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), and the Indenture Trustee Trustee, pursuant to Section 3.26 of the Indenture, shall forward make such Servicing Certificate available to each Bondholder of record Certificateholder, each Noteholder, the Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent, Bear ▇▇▇▇▇▇▇ Capital Markets Inc. and each Rating Agency. The Servicing Certificate shall set forth the following information as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) for each Loan Group, the amountaggregate amount of (a) Interest Collections, if any(b) Principal Collections (and, of the distributions with respect to any Payment Date relating to the holders of each Class of Bonds on Managed Amortization Period, Net Principal Collections) and (c) Substitution Adjustment Amounts for such Distribution Date applied to reduce the aggregate Bond Class Balance thereofCollection Period; (ii) the amount of such distribution as principal to the distributions to holders Noteholders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsNotes; (iii) the outstanding Funding Note Balance amount of such distribution as interest to the Noteholders of each Class of Notes, the amount thereof, if any, payable in respect of unpaid Interest Shortfalls, and the amount of any Interest Shortfalls for the related Determination Payment Date; (iv) the number Policy Draw Amount, if any, for such Payment Date and Aggregate Stated Principal Balance the aggregate amount of outstanding Mortgage Loans in prior draws on the Mortgage PoolPolicy thereunder not yet reimbursed; (v) the number and aggregate Stated Principal Balance amount of Mortgage Loans in such distribution to the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedCertificateholders; (vi) with respect to any REO Property acquired during the related Collection Period, the Stated aggregate Principal Balance of the related Mortgage Loans in each Loan Group as of the date of acquisition end of the REO Propertypreceding Collection Period; (vii) the number and aggregate Principal Balances of Mortgage Loans (A) the most recent appraised value of any REO Property as of the related Determination Date, (Ba) as to any REO Property sold during which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89, 90-119 days, 120-149 days and 150-179 days, respectively, (b) the related Collection Period, the date Mortgaged Property of which has been foreclosed upon and (c) as to which the related determination by the Special Servicer that it Mortgaged Property has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each become REO Property during the related Collection Period and credited to the Collection AccountProperty, in each case identifying such REO Property by the loan number as of the related Mortgage Loanend of the preceding Collection Period; provided, however, that such information shall not be provided on the statements relating to the first Payment Date; (viii) the number and aggregate Bond Class Principal Balance of each Class of Bonds before and after giving effect Mortgage Loans repurchased pursuant to the distributions made on Section 3.15(a) herein during such Distribution DateCollection Period; (ix) the aggregate amount of Principal Prepayments made during the related Prepayment Period; (x) the aggregate amount of servicing compensation retained by or paid to the Servicer and the Special Servicer; (xi) the amount of Realized Losses, if any, incurred with respect to the Mortgage Loans during Net Loan Rate for each Loan Group for the related Collection Period; (x) prior to the second Determination Date following the commencement of the Rapid Amortization Period, the aggregate amount of Additional Balances created during the previous Collection Period and conveyed to the Issuer prior to the commencement of such Rapid Amortization Period; (xi) the aggregate Liquidation Loss Amounts with respect to the related Collection Period for each Loan Group, the amount distributed as principal to Noteholders in respect of Liquidation Loss Amounts and the aggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as dollar amount and as a percentage of the aggregate Cut-Off Date Principal Balances of the Mortgage Loans; (xii) the aggregate amount Note Balance of Servicing Advances each Class of Notes and P&I Advances outstanding the Certificate Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xiii) the balance of the Pre-Funding Account, Funding Account, Capitalized Interest Account and Reserve Account as of the end of the prior calendar month that have been made by the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately stated; (xiii) the Overcollateralization Level at the close of business on such Distribution Datepreceding Collection Period; (xiv) the amountPercentage Interest applicable to each of the Securities, if any, withdrawn from the Collection Account and paid to the Fiscal Agent, the Indenture Trustee, the Servicer or the Special Servicer as reimbursement for Nonrecoverable Advancesafter application of payments made on such Payment Date; (xv) with respect to any Mortgage the Overcollateralization Amount for each Loan that is delinquent in respect Group as of three or more Monthly Payments, the end of the preceding Collection Period; and (A) the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (Dxvi) the aggregate Principal Balance of Subsequent Mortgage Loans transferred to the Trust Estate for each Loan Group. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Term Note, Variable Funding Note or Certificate, as applicable, with a $25,000 denomination. If a Managed Amortization Event, a Rapid Amortization Event or a Servicing Default shall occur, on the Business Day following the related Determination Date, the Servicer shall forward to the Indenture Trustee, and the Indenture Trustee, pursuant to Section 3.26 of unrethe Indenture, shall forward or cause to be forwarded by mail to each Certificateholder, each Noteholder, the Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement to such effect, including, in the case of a Rapid Amortization Event or a Servicing Default, the nature thereof. Such statement may be included in, or separate from, the regular statement sent to Securityholders. The Indenture Trustee will make the monthly statement to Securityholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Securityholders, and other parties to this Agreement via the Indenture Trustee's internet website and its fax-on-demand service. The Indenture Trustee's fax-on-demand service may be accessed by calling (▇▇▇) ▇▇▇-▇▇▇▇. The Indenture Trustee's internet website shall initially be located at "▇▇▇.▇▇▇▇▇▇▇▇ .▇&▇ Advances ▇▇". Assistance in using the website or the fax-on demand service can be obtained by calling the Indenture Trustee's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and Servicingindicating such. The Indenture Trustee shall have the right to change the way the statements to Securityholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. (b) The Servicer shall forward to the Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on the Business Day next succeeding each Determination Date, the Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and deposited into the Note Payment Account, Reserve Account, Funding Account and/or Distribution Account on the Business Day preceding the related Payment Date pursuant to Section 3.03. The determination by the Servicer of such amounts shall, in the absence of obvious error, be deemed to be presumptively correct for all purposes hereunder, and the Owner Trustee and the Indenture Trustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer's written request, the Servicer shall promptly furnish such information reasonably requested by the Issuer that is reasonably available to the Servicer to enable the Issuer to perform its federal and state income tax reporting obligations.

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Master Servicer shall provide forward to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), Trustee and the Indenture Trustee pursuant to Section 3.26 of the Indenture shall forward make available electronically at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇ to each Bondholder of record Certificateholder, Noteholder, the Credit Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement setting forth the following information (the "Servicing Certificate") as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amountapplicable Record Date, if any, of the distributions to the holders of each Class of Bonds on such Distribution Determination Date applied to reduce the aggregate Bond Class Balance thereofand Payment Date; (ii) the aggregate amount of payments received with respect to the distributions to holders of each Class of Bonds on such Distribution Date allocable to (A) interestHome Equity Loans, (B) Interest Carryover Shortfalls and (C) Prepayment Premiumsincluding prepayment amounts; (iii) the outstanding Funding Note Balance as of Servicing Fee and Subservicing Fee payable to the related Determination DateMaster Servicer and the Subservicer; (iv) the number amount of any other fees or expenses paid, and Aggregate Stated Principal Balance the identity of outstanding Mortgage Loans in the Mortgage Poolparty receiving such fees or expenses; (v) the number and aggregate Stated Principal Balance amount of Mortgage Loans in the Mortgage Pool (Aa) delinquent one monthInterest Collections, (Bb) delinquent two months, Principal Collections and (Cc) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedSubstitution Adjustment Amounts for such Collection Period; (vi) with respect the amount paid as principal to any REO Property acquired during the related Collection Period, the Stated Principal Balance Noteholders of the related Mortgage Loan as each Class of the date of acquisition of the REO PropertyNotes; (vii) (A) the most recent appraised value of any REO Property as of the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited paid as interest to the Collection AccountNoteholders of each Class of Notes, separately stating the portion thereof in each case identifying such REO Property by the loan number respect of the related Mortgage LoanPrepayment Interest Shortfalls, Relief Act Shortfalls or Net WAC Cap Shortfalls, if any; (viii) the aggregate Bond Class Balance of Interest Distribution Amount remaining unpaid, if any, for each Class of Bonds before and Notes, after giving effect to the distributions payments made on such Distribution Payment Date; (ix) the aggregate amount of Principal Prepayments made during the related Prepayment Period[Reserved]; (x) the amount of any draw on the Policy for such Payment Date, the amount paid to the Credit Enhancer in reimbursement for prior draws and the aggregate amount of servicing compensation retained by or paid to prior draws under the Servicer and the Special ServicerPolicy not yet reimbursed; (xi) the amount of Realized Lossessuch distribution as principal and interest to the Certificateholders of the Certificates, if anyseparately stating the portion thereof which resulted in a reduction of the Certificate Loan Balance thereof; (xii) the aggregate Loan Balance of the Home Equity Loans as of the end of the preceding Collection Period; (xiii) the aggregate amount of Additional Balances on the Home Equity Loans created during the previous Collection Period conveyed to the Issuer; (xiv) the number and aggregate Loan Balances of Home Equity Loans (a) as to which the Minimum Monthly Payment is Delinquent for 30 to 59 days, incurred 60 to 89 days and 90 or more days, respectively, (b) that are foreclosed and (c) that have become REO, in each case as of the end of the related Collection Period; provided, however, that such information will not be provided on the statements relating to the first Payment Date; (xv) the Note Rate and the Net WAC Rate for the related Collection Period; (xvi) the aggregate Liquidation Loss Amounts with respect to the Mortgage related Collection Period, the amount of any Liquidation Loss Distribution Amounts with respect to the Notes, and the aggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as dollars and as a percentage of the aggregate Cut-off Date Loan Balance; (xvii) the aggregate Bankruptcy Losses and losses caused by or resulting from an Extraordinary Event with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xviii) the Security Balance of each Class of Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xix) the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection Period; (xx) the number and amount of any increases in the Credit Limits of the Home Equity Loans during the related Collection Period; (xiixxi) the aggregate Overcollateralization Amount, the Undercollateralization Amount and the Required Overcollateralization Amount immediately following such Payment Date; (xxii) any material modifications, extensions or waivers to the terms of the Home Equity Loans during the Collection Period or that have cumulatively become material over time; (xxiii) any material breaches of Home Equity Loan representations or warranties or covenants in the Purchase Agreement; (xxiv) the number and principal amount of Servicing Advances release agreements pursuant to Section 3.05(c) entered into during the calendar year and P&I Advances since the Closing Date, stated separately, for the Home Equity Loans and, the aggregate outstanding principal amount of such release agreements expressed as a percentage of the end Pool Balance with information provided separately with respect to all Unsecured Loans and (2) the number and principal amount of Capitalization Workouts pursuant to Section 3.02(a)(v) entered into during the calendar year and since the Closing Date and the aggregate outstanding amount of the prior calendar month that have been made by Capitalization Workouts expressed as a percentage of the ServicerPool Balance; (xxv) the calculation of any Servicing Trigger or Trigger Event; (xxvi) the amount of any RAHI Premium payable pursuant to Section 3.05(e) of the Indenture; and (xxvii) the amount of the premium on the Policy pursuant to Section 3.05(a) of the Indenture. In the case of information furnished pursuant to clauses (ii) and (iii) above, the Special Serviceramounts shall be expressed as an aggregate dollar amount per Variable Funding Note, Term Note or Certificate, as applicable, with a $1,000 denomination. If an Amortization Event or Servicing Default shall occur, on the Business Day following the related Determination Date, the Master Servicer shall forward to the Indenture Trustee, a statement of such effect, including the nature of such Amortization Event or Servicing Default. The Indenture Trustee shall deliver or cause to be delivered by mail to the Credit Enhancer notice of such Amortization Event or Servicing Default, including, the nature thereof. Such statement may be included in, or separate from, the regular statement to Securityholders. In addition, the Master Servicer shall forward to the Indenture Trustee and any other information reasonably requested by the Fiscal Agent, separately stated; (xiii) Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Overcollateralization Level at Indenture. Prior to the close of business on such Distribution the Business Day next succeeding each Determination Date; (xiv) , the amount, if any, Master Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Collection Custodial Account and paid deposited into the Payment Account on the Business Day preceding the related Payment Date pursuant to Section 3.03. The determination by the Master Servicer of such amounts shall be presumptively deemed to be correct for all purposes hereunder and the Owner Trustee and Indenture Trustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer's written request, the Master Servicer shall promptly furnish information reasonably requested by the Issuer that is reasonably available to the Fiscal Agent, Master Servicer to enable the Indenture Trustee, the Servicer or the Special Servicer as reimbursement for Nonrecoverable Advances; (xv) with respect Issuer to any Mortgage Loan that is delinquent in respect of three or more Monthly Payments, (A) the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances perform its federal and Servicingstate income tax reporting obligations.

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day preceding the related Determination Date, the Servicer shall provide forward the Servicing Certificate and shall prepare and deliver to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), and the Indenture Trustee Trustee, pursuant to Section 3.26 of the Indenture, shall forward make a monthly statement available to each Bondholder of record Certificateholder, each Noteholder, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency. The monthly statement shall set forth the following information as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amountaggregate amount of (a) Interest Collections and (b) Principal Collections, if any, of for the distributions to the holders of each Class of Bonds on such Distribution Date applied to reduce the aggregate Bond Class Balance thereofrelated period; (ii) the amount of such distribution as principal to the distributions to holders Noteholders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsNotes; (iii) the outstanding Funding Note Balance amount of such distribution as interest to the Noteholders of the related Determination Dateeach Class of Notes; (iv) the number and Aggregate Weighted Average Maximum Net Loan Rate; (v) the amount of such distribution to the Certificateholders; (vi) the aggregate Stated Principal Balance of outstanding the Mortgage Loans in as of the end of the preceding Due Period, the aggregate Stated Principal Balance of the fixed rate Mortgage PoolLoans, and the aggregate Stated Principal Balance of the adjustable rate Mortgage Loans; (vvii) the number and aggregate Stated Principal Balance Balances of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (Da) as to which foreclosure proceedings have been commenced; the Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days and 150-179 days, respectively, (vib) with respect to any REO Property acquired during the related Collection Period, the Stated Principal Balance Mortgaged Property of the related Mortgage Loan as of the date of acquisition of the REO Property; which has been foreclosed upon and (vii) (A) the most recent appraised value of any REO Property as of the related Determination Date, (Bc) as to any REO Property sold during which the related Collection Period, the date of the related determination by the Special Servicer that it Mortgaged Property has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each become REO Property during the related Collection Period and credited to the Collection AccountProperty, in each case identifying such REO Property by the loan number as of the related Mortgage Loanend of the preceding Due Period; provided, however, that such information shall not be provided on the statements relating to the first Payment Date; (viii) the number and aggregate Bond Class Balance Stated Principal Balances of Land Loans (a) as to which the Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days and 150-179 days, respectively, (b) the related Mortgaged Property of which has been foreclosed upon and (c) as to which the related Mortgaged Property has become REO Property, in each Class case as of Bonds before and after giving effect the end of the preceding Due Period; provided, however, that such information shall not be provided on the statements relating to the distributions made on such Distribution first Payment Date; (ix) the aggregate amount of Principal Prepayments made during Liquidation Loss Amounts and Substitution Adjustment Amounts with respect to the related Prepayment PeriodPayment Date, the amount distributed as principal to Noteholders in respect of Liquidation Loss Amounts and the aggregate of the Liquidation Loss Amounts from all Payment Dates to date expressed as dollar amount and as a percentage of the aggregate Cut-Off Date Principal Balances of the Mortgage Loans; (x) the aggregate amount Note Balance of servicing compensation retained by or paid each Class of Notes and the Certificate Balance of the Certificates after giving effect to the Servicer and the Special Servicerdistribution of principal on such Payment Date; (xi) the amount Percentage Interest applicable to each of Realized Lossesthe Securities, if any, incurred with respect to the Mortgage Loans during the related Collection Periodafter application of payments made on such Payment Date; (xii) the aggregate amount of Servicing Advances Overcollateralization Amount and P&I Advances outstanding the Required Overcollateralization Amount as of the end of the prior calendar month that have been made by the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately statedPayment Date; (xiii) the Overcollateralization Level weighted average of the Net Loan Rates for the Mortgage Loans for the related Due Period; (xiv) any Deficiency Amount; (xv) the Twelve Month Loss Amount (minus the amount of any Recovery Amounts); and (xvi) the Rolling Three Month Delinquency Rate for such Payment Date and the two preceding Payment Dates. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Note or Certificate, as applicable, with a $25,000 denomination. If a Servicing Default shall occur, on the Business Day following the related Determination Date, the Servicer shall forward to the Indenture Trustee, and the Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall forward or cause to be forwarded by mail to each Certificateholder, each Noteholder, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement to such effect, including the nature of such Servicing Default. Such statement may be included in, or separate from, the regular statement sent to Securityholders. The Indenture Trustee will make the monthly statement to Securityholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Securityholders, and other parties to this Agreement via the Indenture Trustee's internet website. Assistance in using the website can be obtained by calling the customer service desk at (877) 722-1095. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first Class mail by calling the customer service desk and indicating such. The Indenture Trustee shall have the right to change the way the statements to Securityholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. (b) [Reserved]. (c) The Servicer shall forward to the Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on such Distribution the Business Day next succeeding each Determination Date; (xiv) , the amount, if any, Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Collection Custodial Account and paid deposited into the Note Payment Account and/or Distribution Account on the Business Day preceding the related Payment Date pursuant to Section 3.03. The determination by the Fiscal AgentServicer of such amounts shall, in the absence of obvious error, be deemed to be presumptively correct for all purposes hereunder, and the Owner Trustee and the Indenture TrusteeTrustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer's written request, the Servicer or shall promptly furnish such information reasonably requested by the Special Issuer that is reasonably available to the Servicer as reimbursement for Nonrecoverable Advances;to enable the Issuer to perform its federal and state income tax reporting obligations. (xvd) with respect On or before 2:00 P.M. New York time on each Business Day immediately preceding each Payment Date, the Servicer shall either (i) deposit in the Note Payment Account from its own funds, or funds received therefor from the Subservicers, an amount equal to any Mortgage Loan that is delinquent the Advances to be made by the Servicer in respect of three or more Monthly Paymentsthe related Payment Date, (A) the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is which shall be in respect of any Balloon Payment, (D) an aggregate amount equal to the aggregate amount of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances Monthly Payments (with each interest portion thereof adjusted to the Net Loan Rate), less the amount of any related Servicing Modifications, Debt Service Reductions or reductions in the amount of interest collectable from the Mortgagor pursuant to the Servicemembers Civil Relief Act on the Mortgage Loans outstanding as of the related Due Date, which Monthly Payments were delinquent as of the close of business as of the related Determination Date; provided that no Advance shall be made if it would be a Nonrecoverable Advance, (ii) withdraw from amounts on deposit in the Custodial Account and Servicingdeposit in the Note Payment Account all or a portion of the Amount Held for Future Distribution in discharge of any such Advance, or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Advance. Any portion of the Amount Held for Future Distribution so used shall be replaced by the Servicer by deposit in the Note Payment Account on or before 11:00 A.M. New York time on any future Business Day immediately preceding each Payment Date to the extent that funds attributable to the Mortgage Loans that are available in the Custodial Account for deposit in the Note Payment Account on such Payment Date shall be less than payments to Securityholders required to be made on the following Payment Date. Such allocations shall be conclusive for purposes of reimbursement to the Servicer from recoveries on related Mortgage Loans pursuant to Section 3.10(a). The determination by the Servicer that it has made a Nonrecoverable Advance or that any proposed Advance, if made, would constitute a Nonrecoverable Advance, shall be evidenced by an Officers' Certificate of the Servicer delivered to the Depositor and the Indenture Trustee. If the Servicer determines as of the Business Day preceding any Note Payment Account Deposit Date that it will be unable to deposit in the Note Payment Account an amount equal to the Advance required to be made for the immediately succeeding Payment Date, it shall give notice to the Trustee of its inability to advance (such notice may be given by telecopy), not later than 3:00 P.M., New York time, on such Business Day, specifying the portion of such amount that it will be unable to deposit. Not later than 3:00 P.M., New York time, on the Note Payment Account Deposit Date the Trustee shall, unless by 12:00 Noon, New York time, on such day the Indenture Trustee shall have been notified in writing (by telecopy) that the Servicer shall have directly or indirectly deposited in the Note Payment Account such portion of the amount of the Advance as to which the Servicer shall have given notice pursuant to the preceding sentence, pursuant to Section 7.01, (a) terminate all of the rights and obligations of the Servicer under this Agreement in accordance with Section 7.01 and (b) assume the obligations of the Servicer hereunder, including the obligation to deposit in the Note Payment Account an amount equal to the Advance for the immediately succeeding Payment Date and such other rights and obligations set forth in Section 7.02 hereof. The Indenture Trustee shall deposit all funds it receives pursuant to this Section 4.01 into the Note Payment Account.

Statements to Securityholders. Not later than 10:00 A.M. on (a) On each Determination Distribution Date, the Servicer shall provide to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), and i) the Indenture Trustee shall forward include with each distribution to each Bondholder Noteholder of record as of the most recent related Record Date Date, and to the Owner Trustee (with a copy to each Paying Agent under ii) the Trust Agreement for such Paying Agent to forward shall include with each distribution to each Certificateholder of record as of the most recent related Record Date) , a statement, prepared by the Servicer, based on the information in the Distribution Date Statement furnished pursuant to Section 3.09, setting forth for such Distribution Date the following statements: (a) a statement substantially in information as of the form of Exhibit Brelated Record Date or such Distribution Date, setting forth, to as the extent applicablecase may be: (i) the amount, if any, amount of the distributions such distribution allocable to the holders of principal (stated separately for each Class of Bonds on such Distribution Date applied to reduce Notes and the Certificates), separately identifying the aggregate Bond Class Balance thereofamount included therein of any (i) Full Prepayments of principal on Precomputed Contracts and (ii) Full Prepayments and partial prepayments of principal on Simple Interest Contracts; (ii) the amount of the distributions such distribution allocable to holders of interest (stated separately for each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls Notes and (C) Prepayment Premiumsthe Certificates); (iii) the outstanding Funding Note Balance Percentage and the Certificate Percentage as of the related Determination Dateclose of business on the last day of such Collection Period; (iv) the number Certificate Distributable Amount and Aggregate Stated Principal Balance of outstanding Mortgage Loans in the Mortgage PoolNote Distributable Amount for such Distribution Date; (v) the number and aggregate Stated Principal Balance of Mortgage Loans in Premium payable to the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedInsurer; (vi) with the amount to be on deposit in the Spread Account on such Distribution Date, before and after giving effect to deposits thereto and withdrawals therefrom to be made in respect to any REO Property acquired during the related Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO Propertysuch Distribution Date; (vii) the amount of the withdrawal, if any, required to be made from the Spread Account by the Indenture Trustee, specifying as to whether such amount is to be (A) deposited into the most recent appraised value of any REO Property as of the related Determination DatePayment Account, (B) as paid to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale Insurer or (C) deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited Certificate Distribution Account for distribution to the Collection Account, in each case identifying such REO Property by the loan number holders of the related Mortgage LoanResidual Interests pursuant to Section 4.04(b); (viii) the aggregate Bond Class Balance of each Class of Bonds before and after giving effect Servicing Fee with respect to the distributions made on such Distribution DateContracts for the related Collection Period; (ix) the aggregate amount of Principal Prepayments made during fees paid to the Owner Trustee, the Trust Agent and the Indenture Trustee, with respect to the related Prepayment Collection Period; (x) the aggregate amount of servicing compensation retained by or paid any Note Interest Carryover Shortfall, Note Principal Carryover Shortfall, Certificate Interest Carryover Shortfall and Certificate Principal Carryover Shortfall on such Distribution Date and the change in such amounts from those with respect to the Servicer and the Special Servicerimmediately preceding Distribution Date; (xi) the number of, and aggregate amount of, monthly principal and interest payments due on the Contracts which are delinquent as of Realized Losses, if any, incurred with respect to the Mortgage Loans during end of the related Collection PeriodPeriod presented on a 30-day, 60-day and 90-day basis; (xii) the aggregate amount of Servicing Advances and P&I Advances outstanding as of the end of the prior calendar month that have been made by the Servicer, the Special Servicer, the Indenture Trustee Net Collections and the Fiscal AgentPolicy Claim Amount, separately statedif any, for such Distribution Date; (xiii) the Overcollateralization Level at the close aggregate amount of business on such Distribution Date;Liquidation Proceeds received for Defaulted Contracts; -52- 57 (xiv) the amount, if any, withdrawn from net credit losses and Cram Down Losses for the Collection Account and paid to the Fiscal Agent, the Indenture Trustee, the Servicer or the Special Servicer as reimbursement for Nonrecoverable AdvancesPeriod; (xv) with respect the number and net outstanding balance of Contracts for which the Financed Vehicle has been repossessed; and (xvi) the Pool Balance, the Note Pool Factor for each Class of Notes and the Certificate Pool Factor as of such Distribution Date after giving effect to the distribution made on such Distribution Date. Each amount set forth pursuant to subclauses (i) or (ii) above shall be expressed as a dollar amount per $1,000.00 of original principal amount of a Note or original Certificate Balance, as the case may be. (b) Within a reasonable period of time after the end of each calendar year, but not later than the latest date permitted by law, the Servicer shall prepare and furnish to the Issuer, the Indenture Trustee and each Paying Agent, and the Paying Agent for the Notes and the Paying Agent for the Certificates shall furnish to each Person who on any Mortgage Loan that Record Date during such calendar year shall have been a Holder of a Note or a Certificate, respectively, a statement or statements containing the sum of the amounts set forth in clauses (i) and (ii) above for such calendar year and such other information as is delinquent reasonably necessary for the preparation of such Person's federal income tax return in respect of three the Notes or more Monthly PaymentsCertificates or, (A) in the loan number thereofevent such Person shall have been a Holder of a Note or a Certificate during a portion of such calendar year, (B) for the unpaid balance thereofapplicable portion of such year, (C) whether for the delinquency is in respect purposes of any Balloon Payment, (D) the aggregate amount such Noteholder's or Certificateholder's preparation of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances and Servicingfederal income tax returns.

Statements to Securityholders. Not later than 10:00 A.M. on (a) On each Determination Distribution Date, the Servicer shall provide to the Indenture Trustee, in electronic form Owner Trustee (with a copy copies to the Depositor, the Insurer, the Rating Agencies and each Paying Agent), and the Indenture Trustee shall forward to each Bondholder of record as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent ) to forward to each Certificateholder of record, and to the Indenture Trustee to forward to each Noteholder of record as of a statement, based on the most recent Record Date) related Servicer's Certificate setting forth at least the following statements: (a) a statement substantially in information as to the form of Exhibit B, setting forthSecurities with respect to the related Distribution Date and Collection Period, to the extent applicable: (i) the amount, if any, amount of the distributions such distribution allocable to the holders of principal for each Class of Bonds on such Distribution Date applied to reduce Notes and the aggregate Bond Class Balance thereofCertificates; (ii) the amount of the distributions such distribution allocable to holders of current and overdue interest (including any interest on overdue interest), as allocated to each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls Notes and (C) Prepayment Premiumsthe Certificates; (iii) the outstanding Funding Note Balance as of the related Determination DateAvailable Collections; (iv) the number and Aggregate Stated Principal Balance of outstanding Mortgage Loans in the Mortgage Pool; (v) the number and aggregate Stated Principal Balance of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commenced; (vi) with respect to any REO Property acquired during the related Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO Property; (vii) (A) the most recent appraised value of any REO Property as of the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage Loan; (viii) the aggregate Bond Class Balance of each Class of Bonds before and after giving effect to the distributions made on such Distribution Date; (ix) the aggregate amount of Principal Prepayments made during the related Prepayment Period; (x) the aggregate amount of servicing compensation retained by or paid to the Servicer and the Special Servicer; (xi) the amount of Realized Losses, if any, incurred with respect to the Mortgage Loans Receivables that became Defaulted Receivables during the related Collection Period; (v) the Pool Balance as of the close of business on the last day of the related Collection Period; (vi) the Note Distributable Amount and the Certificate Distributable Amount; (vii) the Servicing Fee paid to the Servicer; (viii) the aggregate outstanding principal balance of each Class of Notes, the Note Pool Factor with respect to each Class of Notes, the Certificate Balance and the Certificate Pool Factor (in each case after giving effect to payments allocated to principal reported under clause (i) above); (ix) the amount of Trust Fees and Expenses; (x) the Insurance Premiums; (xi) the Unreimbursed Insurance Payments, if any; (xii) the aggregate amount of Servicing Advances and P&I Advances outstanding as of the end of the prior calendar month that have been made by the ServicerInsurance Payment Amount, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately statedif any; (xiii) the Overcollateralization Level at the close of business Reserve Fund Amount on such Distribution Date, after giving effect to all deposits thereto and withdrawals therefrom made on such Distribution Date or the related Deposit Date, if any, and the change in such balance from the immediately preceding Distribution Date; (xiv) the amountReserve Fund Draw Amount, if any, withdrawn from the Collection Account and paid to the Fiscal Agent, the Indenture Trustee, the Servicer or the Special Servicer as reimbursement for Nonrecoverable Advances; (xv) the aggregate Repurchase Amount of Receivables repurchased by the Seller or purchased by the Servicer, if any, with respect to any Mortgage Loan the related Collection Period; (xvi) the number and aggregate Principal Balance of Receivables that is delinquent in respect of three were 31-60 days, 61-90 days and 91 days or more Monthly Paymentsdelinquent as of the last day of the preceding Collection Period; and (xvii) the Net Losses with respect to the related Collection Period. Each amount set forth on the Distribution Date statement under clauses (i), (Aii) and (v) above shall be expressed as a dollar amount per $1,000 of original principal balance of a Note or the loan number thereofInitial Certificate Balance of a Certificate, as the case may be. (Bb) Within the unpaid balance thereofprescribed period of time for tax reporting purposes after the end of each calendar year during the term of the Issuer, (C) whether but not later than the delinquency is latest date permitted by law, the related Trustee shall mail to each Person who at any time during such calendar year shall have been a Securityholder, a statement, prepared by the Servicer, containing certain information for such calendar year or, in respect the event such Person shall have been a Securityholder during a portion of such calendar year, for the applicable portion of such year, for the purposes of such Securityholder's preparation of federal income tax returns. In addition, the Servicer shall furnish to the Trustees for distribution to such Person at such time any Balloon Payment, (D) other information necessary under applicable law for the aggregate amount preparation of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances and Servicingsuch income tax returns.

Statements to Securityholders. Not Each Servicer (other than PNC) shall provide to the Master Servicer, and PNC shall provide to the Trust Administrator, the information (the “Servicing Certificate”) necessary to calculate the information set forth below, and any other information the Trust Administrator reasonably requires, in such form as the Trust Administrator shall reasonably request, or in such form as may be mutually agreed upon between such Servicer and the Trust Administrator, with respect to each Loan serviced by such Servicer no later than 10:00 A.M. 4:00 PM New York City time on the Data Remittance Date to enable the Trust Administrator to calculate the amounts to be distributed to each Determination DateClass of Notes and Certificates and otherwise perform its distribution, accounting and reporting requirements hereunder and under the Indenture. On or prior to the 18th calendar day of each month, the Master Servicer shall provide to the Trust Administrator a report incorporating the information in each Servicing Certificate received by it from the related Servicers (other than PNC). Based solely on the information provided by the Servicers, upon which information it may conclusively rely without verification, the Trust Administrator pursuant to Section 3.25 of the Indenture shall make available on its website initially located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇” to each Securityholder, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, each Servicing Certificate setting forth the following information, together with the other information set forth in electronic form (with a copy the monthly statement prepared by the Trust Administrator pursuant to Section 3.25 of the Indenture, as to the Rating Agencies Notes and each Paying Agent), and the Indenture Trustee shall forward to each Bondholder of record as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthCertificates, to the extent applicable: (i) the amountaggregate amount of (a) the Interest Remittance Amount, if any(b) the Principal Remittance Amount, of (c) the distributions to the holders of each Class of Bonds on such Additional Balance Advance Interest Distribution Date applied to reduce the aggregate Bond Class Balance thereofAmount and (d) Substitution Amounts; (ii) the amount amounts paid in respect of the distributions to holders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsAdditional Balances from the Payment Account; (iii) the outstanding Funding Note number and Aggregate Loan Balance of the Loans as of the end of the related Determination DateCollection Period; (iv) the number and Aggregate Stated aggregate Principal Balance Balances of outstanding Mortgage Loans (a) as to which the Monthly Payment is delinquent for 30-59 days, 60-89 days and 90 or more days, respectively, (b) that are foreclosed, (c) that have become REO, and (d) that have been finally liquidated due to being 180 days or more delinquent, in each case as of the Mortgage Poolend of the related Collection Period assuming twelve, thirty day months; provided, however, that such information will not be provided on the statements relating to the first Payment Date; (v) the number and aggregate Stated Principal Balance of weighted average Mortgage Loans in Interest Rate for the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedrelated Collection Period; (vi) with respect to any REO Property acquired during whether or not as an Amortization Event is in effect for the related Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO PropertyPayment Date; (vii) (A) the most recent appraised value of any REO Property as of Excluded Amounts, if any, received for the related Determination Date, (B) as to any REO Property sold during the related applicable Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage Loan; (viii) the aggregate Bond Class Balance of each Class of Bonds before and after giving effect to Servicing Fees for the distributions made on such Distribution Date;related Collection Period; and (ix) the aggregate amount of Principal Prepayments made during the related Prepayment Period; (x) the aggregate amount of servicing compensation retained by or paid to the Servicer and the Special Servicer; (xi) the amount of Realized Losses, if any, incurred with respect to the Mortgage Loans recovered during the related Collection Period; (xii) the aggregate amount Period consisting of Servicing Advances and P&I Advances outstanding as of the end of the prior calendar month all Net Recoveries on any Loan that have been made by the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately stated; (xiii) the Overcollateralization Level at was 180 days or more delinquent. Prior to the close of business on such Distribution the Business Day next succeeding each Servicer Remittance Date; (xiv) , each Servicer shall furnish a written statement to the amount, if any, Certificate Paying Agent and the Trust Administrator setting forth the aggregate amounts required to be withdrawn from the Collection related Custodial Account and paid deposited into the Master Servicer Account or Payment Account, as applicable, prior to the Fiscal Agentrelated Servicer Remittance Date pursuant to Section 3.03. The determination by a Servicer of such amounts shall, in the Indenture Trusteeabsence of obvious error, be presumptively deemed to be correct for all purposes hereunder and the Owner Trustee and Trust Administrator shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer’s written request, each Servicer or shall promptly furnish information reasonably requested by the Special Servicer as reimbursement for Nonrecoverable Advances; (xv) with respect to any Mortgage Loan Issuer that is delinquent in respect of three or more Monthly Payments, (A) reasonably available to such Servicer to enable the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances Issuer to perform its federal and Servicingstate income tax reporting obligations.

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Servicer shall provide forward the Servicing Certificate to the Indenture Trustee, in electronic form (and the Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall make such Servicing Certificate available to each Certificateholder, each Noteholder, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, with a copy to the Rating Agencies and each Paying Agent), and Enhancer. The Servicing Certificate shall set forth the Indenture Trustee shall forward to each Bondholder of record following information as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amountaggregate amount of (a) Interest Collections, if any(b) Principal Collections (and, of the distributions with respect to any Payment Date relating to the holders of each Class of Bonds on Managed Amortization Period, Net Principal Collections) and (c) Substitution Adjustment Amounts for such Distribution Date applied to reduce the aggregate Bond Class Balance thereofCollection Period; (ii) the amount of such distribution as principal to the distributions to holders Noteholders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsNotes; (iii) the outstanding Funding Note Balance amount of such distribution as interest to the Noteholders of each Class of Notes, the amount thereof, if any, payable in respect of unpaid Interest Shortfalls, and the amount of any Interest Shortfalls for the related Determination Payment Date; (iv) each Policy Draw Amount, if any, for such Payment Date and the number and Aggregate Stated Principal Balance aggregate amount of outstanding Mortgage Loans in prior draws on the Mortgage PoolPolicy thereunder not yet reimbursed; (v) the number and aggregate Stated Principal Balance amount of Mortgage Loans in such distribution to the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedCertificateholders; (vi) with respect the amount of any Additional Balance Increase Amount payable to any REO Property acquired during the related Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO PropertyCertificateholders; (vii) (A) the most recent appraised value aggregate Principal Balance of any REO Property the Mortgage Loans as of the related Determination Date, (B) as to any REO Property sold during end of the related preceding Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage Loan; (viii) the number and aggregate Bond Class Balance Principal Balances of Mortgage Loans (a) as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days and 150-179 days, respectively, (b) the related Mortgaged Property of which has been foreclosed upon and (c) as to which the related Mortgaged Property has become REO Property, in each Class case as of Bonds before and after giving effect the end of the preceding Collection Period; provided, however, that such information shall not be provided on the statements relating to the distributions made on such Distribution first Payment Date; (ix) the number and aggregate amount Principal Balance of Principal Prepayments made Mortgage Loans repurchased pursuant to Section 3.15(a) herein during the related Prepayment such Collection Period; (x) the aggregate amount of servicing compensation retained by or paid to Net WAC Rate for the Servicer and the Special Servicerrelated Collection Period; (xi) prior to the second Determination Date following the commencement of the Rapid Amortization Period, the aggregate amount of Realized Losses, if any, incurred with respect Additional Balances created during the previous Collection Period and conveyed to the Mortgage Loans during Issuer prior to the related Collection commencement of such Rapid Amortization Period; (xii) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount distributed as principal to Noteholders in respect of Servicing Advances Liquidation Loss Amounts and P&I Advances outstanding as the aggregate of the end Liquidation Loss Amounts (minus any Subsequent Net Recovery Amounts) from all Collection Periods to date expressed as dollar amount and as a percentage of the prior calendar month that have been made by aggregate Cut-Off Date Principal Balances of the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately statedMortgage Loans; (xiii) the Overcollateralization Level at aggregate Note Balance of each Class of Notes and the close Certificate Balance of business each Class of the Certificates after giving effect to the distribution of principal on such Distribution Payment Date; (xiv) the amountbalance of the Pre-Funding Account, if any, withdrawn from the Collection Funding Account and paid to Capitalized Interest Account as of the Fiscal Agent, end of the Indenture Trustee, the Servicer or the Special Servicer as reimbursement for Nonrecoverable Advancespreceding Collection Period; (xv) with respect the Percentage Interest applicable to any Mortgage Loan that is delinquent in respect each of three or more Monthly Paymentsthe Securities, after application of payments made on such Payment Date; (Axvi) the loan number thereof, Overcollateralization Amount as of the end of the preceding Collection Period; and (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (Dxvii) the aggregate Principal Balance of Subsequent Mortgage Loans transferred to the Trust Estate. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Note or Certificate, as applicable, with a $25,000 denomination and per Certificate with a denomination equal to a 100% Percentage Interest. If a Managed Amortization Event, a Rapid Amortization Event or a Servicing Default shall occur, on the Business Day following the related Determination Date, the Servicer shall forward to the Indenture Trustee, a statement to such effect, including the nature of unresuch Rapid Amortization Event or Servicing Default. The Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall deliver or cause to be delivered by mail to each Certificateholder, each Noteholder, the Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, notice of such Managed Amortization Event, Rapid Amortization Event or Servicing Default, including, in the case of a Rapid Amortization Event or a Servicing Default, the nature thereof. Such statement may be included in, or separate from, the regular statement sent to Securityholders. The Indenture Trustee will make the Servicing Certificate (and, at its option, any additional files containing the same information in an alternative format) available each month to Securityholders, and other parties to this Agreement via the Indenture Trustee's internet website. The Indenture Trustee's internet website shall initially be located at "www.ctslink.com". Assistance in usi▇▇ ▇▇▇ ▇▇▇▇▇▇▇ can be obtained by calling the Indenture Trustee's customer service desk at (301) 815-6600. Parties that are ▇&▇▇▇▇▇ Advances ▇▇ ▇▇e the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and Servicingindicating such. The Indenture Trustee shall have the right to change the way the statements to Securityholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Indenture Trustee may require registration and the acceptance of a disclaimer in connection with access to its website. (b) The Servicer shall forward to the Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on the Business Day next succeeding each Determination Date, the Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and deposited into the Note Payment Account, Funding Account and/or Distribution Account on the Business Day preceding the related Payment Date pursuant to Section 3.03. The determination by the Servicer of such amounts shall, in the absence of obvious error, be deemed to be presumptively correct for all purposes hereunder, and the Owner Trustee and the Indenture Trustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer's written request, the Servicer shall promptly furnish such information reasonably requested by the Issuer that is reasonably available to the Servicer to enable the Issuer to perform its federal and state income tax reporting obligations.

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Servicer shall provide forward the Servicing Certificate to the Indenture Trustee, in electronic form (and the Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall make such Servicing Certificate available to each Certificateholder, each Noteholder, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, with a copy to the Rating Agencies and each Paying Agent), and Enhancer. The Servicing Certificate shall set forth the Indenture Trustee shall forward to each Bondholder of record following information as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amountaggregate amount of (a) Interest Collections, if any(b) Principal Collections (and, of the distributions with respect to any Payment Date relating to the holders of each Class of Bonds on such Distribution Date applied to reduce Managed Amortization Period, Net Principal Collections), (c) Substitution Adjustment Amounts and (d) Excess Spread, for the aggregate Bond Class Balance thereofrelated Collection Period; (ii) the amount of such distribution as principal to the distributions to holders Noteholders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsNotes; (iii) the outstanding Funding Note Balance amount of such distribution as interest to the Noteholders of each Class of Notes, the amount thereof, if any, payable in respect of unpaid Interest Shortfalls, and the amount of any Interest Shortfalls and Relief Act Shortfalls for the related Determination Payment Date; (iv) each Policy Draw Amount, if any, for such Payment Date and the number and Aggregate Stated Principal Balance aggregate amount of outstanding Mortgage Loans in prior draws on the Mortgage PoolPolicy thereunder not yet reimbursed; (v) the number and aggregate Stated Principal Balance amount of Mortgage Loans in such distribution to the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedCertificateholders; (vi) with respect the amount of any Additional Balance Increase Amount payable to any REO Property acquired during the related Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO PropertyCertificateholders; (vii) (A) the most recent appraised value aggregate Principal Balance of any REO Property the Mortgage Loans as of the related Determination Date, (B) as to any REO Property sold during end of the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage Loan; (viii) the number and aggregate Bond Class Balance Principal Balances of Mortgage Loans (a) as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days, 150-179 days and greater than 180 days, respectively, (b) the related Mortgaged Property of which has been foreclosed upon and (c) as to which the related Mortgaged Property has become REO Property, in each Class case as of Bonds before and after giving effect the end of the related Collection Period; provided, however, that such information shall not be provided on the statements relating to the distributions made on such Distribution first Payment Date; (ix) the number and aggregate amount Principal Balance of Principal Prepayments made during the related Prepayment Period; (x) the aggregate amount of servicing compensation retained by or paid to the Servicer and the Special Servicer; (xi) the amount of Realized Losses, if any, incurred with respect to the Mortgage Loans repurchased pursuant to Section 3.15(a) herein during the related Collection Period; (x) the Net WAC Rate for the related Collection Period; (xi) prior to the second Determination Date following the commencement of the Rapid Amortization Period, the aggregate amount of Additional Balances created during the related Collection Period and conveyed to the Issuer prior to the commencement of such Rapid Amortization Period; (xii) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount distributed as principal to Noteholders or paid to the Funding Account in respect of Servicing Advances Liquidation Loss Amounts and P&I Advances outstanding as the aggregate of the end Liquidation Loss Amounts (minus any Subsequent Net Recovery Amounts) from all Collection Periods to date expressed as dollar amount and as a percentage of the prior calendar month that have been made by aggregate Cut-Off Date Principal Balances of the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately statedMortgage Loans; (xiii) the Overcollateralization Level at aggregate Note Balance of each Class of Notes and the close Certificate Balance of business each Class of the Certificates after giving effect to the distribution of principal on such Distribution Payment Date; (xiv) the amountbalance of the Pre-Funding Account, if anyCapitalized Interest Account, withdrawn from the Collection Funding Account and paid to the Fiscal Agent, Reserve Sub-Account as of the Indenture Trustee, end of the Servicer or the Special Servicer as reimbursement for Nonrecoverable Advancesrelated Collection Period; (xv) with respect the Percentage Interest applicable to any Mortgage Loan that is delinquent in respect each of three or more Monthly Paymentsthe Securities, after application of payments made on such Payment Date; (Axvi) the loan number thereof, (B) Overcollateralization Amount as of the unpaid balance thereof, (C) end of the related Collection Period and whether the delinquency Excess Spread Test is in respect satisfied as of any Balloon Payment, the end of the related Collection Period; and (Dxvii) the aggregate Principal Balance of Subsequent Mortgage Loans transferred to the Trust Estate during the related Collection Period. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Note or Certificate, as applicable, with a $25,000 denomination and per Certificate with a denomination equal to a 100% Percentage Interest. If a Rapid Amortization Event or a Servicing Default shall occur, on the Business Day following the related Determination Date, the Servicer shall forward to the Indenture Trustee, a statement to such effect, including the nature of unresuch Rapid Amortization Event or Servicing Default. Upon the Servicer's becoming aware of any Early Amortization Event, the Servicer shall forward to the Indenture Trustee, a statement to such effect, including the nature of such Early Amortization Event. The Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall deliver or cause to be delivered by mail to each Certificateholder, each Noteholder, the Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, notice of such Rapid Amortization Event, Early Amortization Event or Servicing Default, including, the nature thereof. Such statement may be included in, or separate from, the regular statement sent to Securityholders. The Indenture Trustee will make the Servicing Certificate (and, at its option, any additional files containing the same information in an alternative format) available each month to Securityholders, and other parties to this Agreement via the Indenture Trustee's internet website. The Indenture Trustee's internet website shall initially be located at "www.ctslink.com." Assistance in ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇te can be obtained by calling the Indenture Trustee's customer service desk at (301) 815-6600. Parties that ▇▇▇ ▇▇▇▇▇▇ ▇&▇ Advances use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and Servicingindicating such. The Indenture Trustee shall have the right to change the way the statements to Securityholders are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Indenture Trustee may require registration and the acceptance of a disclaimer in connection with access to its website. (b) The Servicer shall forward to the Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on the Business Day next succeeding each Determination Date, the Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and the Reserve Sub-Account and deposited into the Note Payment Account, Reserve Sub-Account, Funding Account or Distribution Account on the Business Day preceding the related Payment Date pursuant to Section 3.03. The determination by the Servicer of such amounts shall, in the absence of obvious error, be deemed to be presumptively correct for all purposes hereunder, and the Owner Trustee and the Indenture Trustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer's written request, the Servicer shall promptly furnish such information reasonably requested by the Issuer that is reasonably available to the Servicer to enable the Issuer to perform its federal and state income tax reporting obligations. (c) If the Note Balance of the Variable Pay Revolving Notes is to be reduced on any Payment Date pursuant to the terms of the Indenture, the Servicer shall, not later than 12:00 Noon (New York time) on the second Business Day prior to such Payment Date, deliver a written notice to the Administrative Agent specifying the amount of such reduction.

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Servicer shall provide forward to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), Trustee and the Indenture Trustee pursuant to Sections 3.26 and [___] of the Indenture shall forward or cause to be forwarded by mail or otherwise make available electronically at www.[__________].[___] to each Bondholder of record Certificateholder, Noteholder, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement setting forth the following information (the “Servicing Certificate”) as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amountapplicable Record Date, if any, of the distributions to the holders of each Class of Bonds on such Distribution Determination Date applied to reduce the aggregate Bond Class Balance thereofand Payment Date; (ii) the aggregate amount of payments received with respect to the distributions to holders of each Class of Bonds on such Distribution Date allocable to (A) interestMortgage Loans, (B) Interest Carryover Shortfalls and (C) Prepayment Premiumsincluding prepayment amounts; (iii) the outstanding Funding Note Balance as of Servicing Fee payable to the related Determination DateServicer; (iv) the number amount of any other fees or expenses paid, and Aggregate Stated Principal Balance the identity of outstanding Mortgage Loans in the Mortgage Poolparty receiving such fees or expenses; (v) the number and aggregate Stated Principal Balance amount of Mortgage Loans in the Mortgage Pool (Aa) delinquent one monthInterest Collections, (Bb) delinquent two monthsPrincipal Collections, (Cc) delinquent three or more months or Substitution Adjustment Amounts and (Dd) as to which foreclosure proceedings have been commencedExcess Spread, for the related Collection Period; (vi) with respect the amount paid as principal to any REO Property acquired during the related Collection Period, the Stated Principal Balance Noteholders of the related Mortgage Loan as each Class of the date of acquisition of the REO PropertyNotes; (vii) (A) the most recent appraised value amount paid as interest to the Noteholders of any REO Property as each Class of the related Determination DateNotes, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during any Relief Act Shortfalls for the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage LoanPayment Date; (viii) the aggregate Bond Class Balance amount of interest remaining unpaid, if any, for each Class of Bonds before and the Notes, after giving effect to the distributions payments made on such Distribution Payment Date; (ix) the aggregate amount of Principal Prepayments made during such distribution as principal and interest to the related Prepayment PeriodCertificateholders of the Certificates, separately stating the portion thereof which resulted in a reduction of the Certificate Balance thereof; (x) the aggregate amount Principal Balance of servicing compensation retained by or paid to the Servicer and Mortgage Loans as of the Special Servicerend of the related Collection Period; (xi) the amount number and aggregate Principal Balances of Realized LossesMortgage Loans (a) as to which the Minimum Monthly Payment is delinquent for 30-59 days, if any60-89 days, incurred with respect 90-119 days, 120-149 days, 150-179 days and greater than 180 days, respectively, (b) the related Mortgaged Property of which has been foreclosed upon and (c) as to which the related Mortgaged Property has become REO Property, in each case as of the end of the related Collection Period; provided, however, that such information shall not be provided on the statements relating to the first Payment Date; (xii) the number and aggregate Principal Balance of Mortgage Loans repurchased pursuant to Section 3.15(a) herein during the related Collection Period; (xiixiii) the Net WAC Rate for the related Collection Period; (xiv) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount distributed as principal to Noteholders in respect of Servicing Advances Liquidation Loss Amounts and P&I Advances outstanding the aggregate of the Liquidation Loss Amounts (minus any Subsequent Net Recovery Amounts) from all Collection Periods to date expressed as dollar amount and as a percentage of the aggregate Cut-Off Date Principal Balances of the Mortgage Loans; (xv) the aggregate Note Balance of each Class of Notes and the Certificate Balance of each Class of Certificates after giving effect to the distribution of principal on such Payment Date; (xvi) the Percentage Interest applicable to each of the Securities, after application of payments made on such Payment Date; and (xvii) the Overcollateralization Amount as of the end of the prior calendar month that have been made by related Collection Period. In the Servicercase of information furnished pursuant to clauses (vi) and (vii) above, the Special Serviceramounts shall be expressed as an aggregate dollar amount per Note or Certificate, as applicable, with a $25,000 denomination per Note and with a denomination equal to a 100% Percentage Interest per Certificate. If a Servicing Default shall occur, on the Business Day following the related Determination Date, the Servicer shall forward to the Indenture Trustee a statement to such effect, including the nature of such Servicing Default. The Indenture Trustee, pursuant to Sections 3.26 and [___] of the Indenture, shall deliver or cause to be delivered by mail to each Certificateholder, each Noteholder, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, notice of such Servicing Default, including the nature thereof. Such statement may be included in, or separate from, the regular statement made available to Securityholders. The Indenture Trustee will make the Servicing Certificate (and, at its option, any additional files containing the same information in an alternative format) available each month to Securityholders, and other parties to this Agreement via the Indenture Trustee’s internet website. The Indenture Trustee’s internet website shall initially be located at “www.[________].[___].” Assistance in using the website can be obtained by calling the Indenture Trustee’s customer service desk at ([___]) [___]-[____]. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Indenture Trustee shall have the right to change the way the statements to Securityholders are distributed in order to make such distribution more convenient or more accessible to the above parties and the Fiscal Agent, separately stated;Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Indenture Trustee may require registration and the acceptance of a disclaimer in connection with access to its website. (xiiib) The Servicer shall forward to the Overcollateralization Level at Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on such Distribution the Business Day next succeeding each Determination Date; (xiv) , the amount, if any, Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Collection Custodial Account and paid deposited into the Note Payment Account or Distribution Account on the Business Day preceding the related Payment Date pursuant to Section 3.03. The determination by the Fiscal AgentServicer of such amounts shall, in the absence of obvious error, be deemed to be presumptively correct for all purposes hereunder, and the Owner Trustee and the Indenture TrusteeTrustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer’s written request, the Servicer or shall promptly furnish such information reasonably requested by the Special Servicer as reimbursement for Nonrecoverable Advances; (xv) with respect to any Mortgage Loan Issuer that is delinquent in respect of three or more Monthly Payments, (A) reasonably available to the loan number thereof, (B) Servicer to enable the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances Issuer to perform its federal and Servicingstate income tax reporting obligations.

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Servicer shall provide forward the Servicing Certificate and a computer file containing mutually agreed upon loan level information to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), and the Indenture Trustee Trustee, pursuant to Section 3.26 of the Indenture, shall forward make such Servicing Certificate available to each Bondholder of record Certificateholder, each Noteholder, the Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency. The Servicing Certificate shall set forth the following information as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) for each Group, the amountaggregate amount of (a) Interest Collections, if any(b) Principal Collections (and, of the distributions with respect to any Payment Date relating to the holders of each Class of Bonds on Managed Amortization Period, Net Principal Collections) and (c) Substitution Adjustment Amounts for such Distribution Date applied to reduce the aggregate Bond Class Balance thereofCollection Period; (ii) the amount of such distribution as principal to the distributions to holders Noteholders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsNotes; (iii) the outstanding Funding Note Balance amount of such distribution as interest to the Noteholders of each Class of Notes, the amount thereof, if any, payable in respect of unpaid Interest Shortfalls, and the amount of any Interest Shortfalls for the related Determination Payment Date; (iv) each Policy Draw Amount, if any, for such Payment Date and the number and Aggregate Stated Principal Balance aggregate amount of outstanding Mortgage Loans in prior draws on the Mortgage PoolPolicy thereunder not yet reimbursed; (v) the amount of such distribution to the Certificateholders; (vi) the aggregate Principal Balance of the Mortgage Loans in each Group as of the end of the preceding Collection Period; (vii) for each Group, the number and aggregate Stated Principal Balances of Mortgage Loans (a) as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days and 150-179 days, respectively, (b) the related Mortgaged Property of which has been foreclosed upon and (c) as to which the related Mortgaged Property has become REO Property, in each case as of the end of the preceding Collection Period; provided, however, that such information shall not be provided on the statements relating to the first Payment Date; (viii) for each Group, the number and aggregate Principal Balance of Mortgage Loans in the Mortgage Pool (Arepurchased pursuant to Section 3.15(a) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commenced; (vi) with respect to any REO Property acquired herein during the related such Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO Property; (vii) (A) the most recent appraised value of any REO Property as of the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage Loan; (viii) the aggregate Bond Class Balance of each Class of Bonds before and after giving effect to the distributions made on such Distribution Date; (ix) the aggregate amount of Principal Prepayments made during the related Prepayment Period; (x) the aggregate amount of servicing compensation retained by or paid to the Servicer and the Special Servicer; (xi) the amount of Realized Losses, if any, incurred with respect to the Mortgage Loans during Net WAC Rate for each Group for the related Collection Period; (x) prior to the second Determination Date following the commencement of the Rapid Amortization Period, the aggregate amount of Additional Balances created during the previous Collection Period and conveyed to the Issuer prior to the commencement of such Rapid Amortization Period; (xi) for each Group, the aggregate Liquidation Loss Amounts with respect to the related Collection Period for each Group, the amount distributed as principal to Noteholders in respect of Liquidation Loss Amounts and the aggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as dollar amount and as a percentage of the aggregate Cut-Off Date Principal Balances of the Mortgage Loans; (xii) the aggregate amount Note Balance of Servicing Advances each Class of Notes and P&I Advances outstanding the Certificate Balance of each Class of the Certificates after giving effect to the distribution of principal on such Payment Date; (xiii) the balance of the Pre-Funding Account, Funding Account, Capitalized Interest Account and Reserve Account as of the end of the prior calendar month that have been made by the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately stated; (xiii) the Overcollateralization Level at the close of business on such Distribution Datepreceding Collection Period; (xiv) the amountPercentage Interest applicable to each of the Securities, if any, withdrawn from the Collection Account and paid to the Fiscal Agent, the Indenture Trustee, the Servicer or the Special Servicer as reimbursement for Nonrecoverable Advancesafter application of payments made on such Payment Date; (xv) with respect to any Mortgage Loan that is delinquent in respect the Overcollateralization Amount for each Group as of three or more Monthly Payments, the end of the preceding Collection Period; and (A) the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (Dxvi) the aggregate Principal Balance of Subsequent Mortgage Loans transferred to the Trust Estate for each Group. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Term Note, Variable Funding Note or Certificate, as applicable, with a $25,000 denomination and per Certificate with a denomination equal to a 100% Percentage Interest. If a Managed Amortization Event, a Rapid Amortization Event or a Servicing Default shall occur, on the Business Day following the related Determination Date, the Servicer shall forward to the Indenture Trustee, and the Indenture Trustee, pursuant to Section 3.26 of unrethe Indenture, shall forward or cause to be forwarded by mail to each Certificateholder, each Noteholder, the Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement to such effect, including, in the case of a Rapid Amortization Event or a Servicing Default, the nature thereof. Such statement may be included in, or separate from, the regular statement sent to Securityholders. The Indenture Trustee will make the monthly statement to Securityholders (and, at its option, any additional files containing the same information in an alternative format) available each month to Securityholders, and other parties to this Agreement via the Indenture Trustee's internet website. The Indenture Trustee's internet website shall initially be located at "www.abs.bankone.com". Assistance ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇ite can be obtained by calling the Indenture Trustee's customer service desk at (800) 524-9472. Parties that are ▇▇▇▇▇▇ ▇&▇ Advances ▇▇▇ the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and Servicingindicating such. The Indenture Trustee shall have the right to change the way the statements to Securityholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. (b) The Servicer shall forward to the Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on the Business Day next succeeding each Determination Date, the Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and deposited into the Note Payment Account, Reserve Account, Funding Account and/or Distribution Account on the Business Day preceding the related Payment Date pursuant to Section 3.03. The determination by the Servicer of such amounts shall, in the absence of obvious error, be deemed to be presumptively correct for all purposes hereunder, and the Owner Trustee and the Indenture Trustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer's written request, the Servicer shall promptly furnish such information reasonably requested by the Issuer that is reasonably available to the Servicer to enable the Issuer to perform its federal and state income tax reporting obligations.

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Servicer shall provide forward the Servicing Certificate to the Indenture Trustee, in electronic form (and the Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall make such Servicing Certificate available to each Certificateholder, each Noteholder, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, with a copy to the Rating Agencies and each Paying Agent), and Enhancer. The Servicing Certificate shall set forth the Indenture Trustee shall forward to each Bondholder of record following information as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amountaggregate amount of (a) Interest Collections, if any(b) Principal Collections (and, of the distributions with respect to any Payment Date relating to the holders of each Class of Bonds on Managed Amortization Period, Net Principal Collections) and (c) Substitution Adjustment Amounts for such Distribution Date applied to reduce the aggregate Bond Class Balance thereofCollection Period; (ii) the amount of such distribution as principal to the distributions to holders Noteholders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsNotes; (iii) the outstanding Funding Note Balance amount of such distribution as interest to the Noteholders of each Class of Notes, the amount thereof, if any, payable in respect of unpaid Interest Shortfalls, and the amount of any Interest Shortfalls for the related Determination Payment Date; (iv) each Policy Draw Amount, if any, for such Payment Date and the number and Aggregate Stated Principal Balance aggregate amount of outstanding Mortgage Loans in prior draws on the Mortgage PoolPolicy thereunder not yet reimbursed; (v) the number and aggregate Stated Principal Balance amount of Mortgage Loans in such distribution to the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedCertificateholders; (vi) with respect the amount of any Additional Balance Increase Amount payable to any REO Property acquired during the related Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO PropertyCertificateholders; (vii) (A) the most recent appraised value aggregate Principal Balance of any REO Property the Mortgage Loans as of the related Determination Date, (B) as to any REO Property sold during end of the related preceding Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage Loan; (viii) the number and aggregate Bond Class Balance Principal Balances of Mortgage Loans (a) as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days and 150-179 days, respectively, (b) the related Mortgaged Property of which has been foreclosed upon and (c) as to which the related Mortgaged Property has become REO Property, in each Class case as of Bonds before and after giving effect the end of the preceding Collection Period; provided, however, that such information shall not be provided on the statements relating to the distributions made on such Distribution first Payment Date; (ix) the number and aggregate amount Principal Balance of Principal Prepayments made Mortgage Loans repurchased pursuant to Section 3.15(a) herein during the related Prepayment such Collection Period; (x) the aggregate amount of servicing compensation retained by or paid to Net WAC Rate for the Servicer and the Special Servicerrelated Collection Period; (xi) prior to the second Determination Date following the commencement of the Rapid Amortization Period, the aggregate amount of Realized Losses, if any, incurred with respect Additional Balances created during the previous Collection Period and conveyed to the Mortgage Loans during Issuer prior to the related Collection commencement of such Rapid Amortization Period; (xii) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount distributed as principal to Noteholders in respect of Servicing Advances Liquidation Loss Amounts and P&I Advances outstanding as the aggregate of the end Liquidation Loss Amounts (minus any Subsequent Net Recovery Amounts) from all Collection Periods to date expressed as dollar amount and as a percentage of the prior calendar month that have been made by aggregate Cut-Off Date Principal Balances of the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately statedMortgage Loans; (xiii) the Overcollateralization Level at aggregate Note Balance of each Class of Notes and the close Certificate Balance of business each Class of the Certificates after giving effect to the distribution of principal on such Distribution Payment Date; (xiv) the amount, if any, withdrawn from balance of the Collection Funding Account and paid to the Fiscal Agent, Reserve Sub-Account as of the Indenture Trustee, end of the Servicer or the Special Servicer as reimbursement for Nonrecoverable Advancespreceding Collection Period; (xv) with respect the Percentage Interest applicable to any Mortgage Loan that is delinquent in respect each of three or more Monthly Paymentsthe Securities, after application of payments made on such Payment Date; (Axvi) the loan number thereof, Overcollateralization Amount as of the end of the preceding Collection Period; and (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (Dxvii) the aggregate Principal Balance of Subsequent Mortgage Loans transferred to the Trust Estate. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Note or Certificate, as applicable, with a $25,000 denomination and per Certificate with a denomination equal to a 100% Percentage Interest. If a Rapid Amortization Event or a Servicing Default shall occur, on the Business Day following the related Determination Date, the Servicer shall forward to the Indenture Trustee, a statement to such effect, including the nature of unresuch Rapid Amortization Event or Servicing Default. Upon the Servicer's becoming aware of any Early Amortization Event, the Servicer shall forward to the Indenture Trustee and the Enhancer, a statement to such effect, including the nature of such Early Amortization Event. The Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall deliver or cause to be delivered by mail to each Certificateholder, each Noteholder, the Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, notice of such Rapid Amortization Event, Early Amortization Event or Servicing Default, including, the nature thereof. Such statement may be included in, or separate from, the regular statement sent to Securityholders. The Indenture Trustee will make the Servicing Certificate (and, at its option, any additional files containing the same information in an alternative format) available each month to Securityholders, and other parties to this Agreement via the Indenture Trustee's internet website. The Indenture Trustee's internet website shall initially be located at "www.ctslink.com". Assistance in using the website can be obtained ▇▇ ▇▇▇▇▇▇▇ ▇▇▇ Indenture Trustee's customer service desk at (301) 815-6600. Parties that are unable to use the above di▇▇▇▇▇▇▇▇▇▇ ▇&▇ Advances ▇▇ions are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and Servicingindicating such. The Indenture Trustee shall have the right to change the way the statements to Securityholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Indenture Trustee may require registration and the acceptance of a disclaimer in connection with access to its website. (b) The Servicer shall forward to the Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on the Business Day next succeeding each Determination Date, the Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and the Reserve Sub-Account and deposited into the Note Payment Account, Reserve Sub-Account, Funding Account and/or Distribution Account on the Business Day preceding the related Payment Date pursuant to Section 3.03. The determination by the Servicer of such amounts shall, in the absence of obvious error, be deemed to be presumptively correct for all purposes hereunder, and the Owner Trustee and the Indenture Trustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer's written request, the Servicer shall promptly furnish such information reasonably requested by the Issuer that is reasonably available to the Servicer to enable the Issuer to perform its federal and state income tax reporting obligations. (c) If the Note Balance of the Variable Pay Revolving Notes is to be reduced on any Payment Date pursuant to the terms of the Indenture, the Servicer shall, not later than 12:00 Noon (New York time) on the second Business Day prior to such Payment Date, deliver a written notice to the Administrative Agent specifying the amount of such reduction.

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Servicer shall provide forward the Servicing Certificate to the Indenture Trustee, in electronic form (and the Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall on such Payment Date make such Servicing Certificate available to each Certificateholder, each Noteholder, the Depositor, the Owner Trustee, the Certificate Paying Agent, the Paying Agent and each Rating Agency, with a copy to the Rating Agencies and each Paying Agent), and Enhancer. The Servicing Certificate shall set forth the Indenture Trustee shall forward to each Bondholder of record following information as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amountaggregate amount of (a) Interest Collections, if any(b) Principal Collections (and, of the distributions with respect to any Payment Date relating to the holders of each Class of Bonds on Managed Amortization Period, Net Principal Collections) and (c) Substitution Adjustment Amounts for such Distribution Date applied to reduce the aggregate Bond Class Balance thereofCollection Period; (ii) the amount of such distribution as principal to the distributions to holders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsNoteholders; (iii) the outstanding Funding Note Balance amount of such distribution as interest to the Noteholders, the amount thereof, if any, payable in respect of unpaid Interest Shortfalls, and the amount of any Interest Shortfalls for the related Determination Payment Date; (iv) each Deficiency Amount, if any, for such Payment Date and the number and Aggregate Stated Principal Balance aggregate amount of outstanding Mortgage Loans in prior draws on the Mortgage PoolPolicy thereunder not yet reimbursed; (v) the number and aggregate Stated Principal Balance of Mortgage Loans in amount, if any, received under the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedYield Maintenance Agreement; (vi) with respect the amount of such distribution to any REO Property acquired during the related Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO PropertyCertificateholders; (vii) (A) the most recent appraised value amount of any REO Property as of Additional Balance Increase Amount payable to the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable Certificateholders and the amount of the proceeds Principal Collections paid in respect of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage LoanAdditional Balance Increase Amount; (viii) the aggregate Bond Class Principal Balance of each Class the Mortgage Loans as of Bonds before and after giving effect to the distributions made on such Distribution Dateend of the preceding Collection Period; (ix) the number and aggregate amount Principal Balances of Principal Prepayments made during Mortgage Loans (a) as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days, 150-179 days and 180 or more days, respectively, (b) the related Prepayment Mortgaged Property of which has been foreclosed upon and (c) as to which the related Mortgaged Property has become REO Property, in each case as of the end of the preceding Collection Period; provided, however, that such information shall not be provided on the statements relating to the first Payment Date; (x) LIBOR for each of the aggregate amount of servicing compensation retained by or paid to Class A-1 Notes and Class A-2 Notes for the Servicer and the Special Servicerrelated Interest Period; (xi) the amount Note Rate for each of Realized Losses, if any, incurred with respect to the Mortgage Loans during Class A-1 Notes and the Class A-2 Notes for such Payment Date; (xii) the Net WAC Rate for the related Collection Period; (xiixiii) prior to the second Determination Date following the commencement of the Rapid Amortization Period, the aggregate amount of Servicing Advances Additional Balances created during the previous Collection Period and P&I Advances outstanding conveyed to the Issuer prior to the commencement of such Rapid Amortization Period; (xiv) the aggregate Liquidation Loss Amounts (other than amounts allocated in respect of the Excluded Amount) with respect to the related Collection Period, the amount distributed as principal to Noteholders in respect of Liquidation Loss Amounts and the aggregate of the Liquidation Loss Amounts (minus any Subsequent Net Recovery Amounts and other than amounts allocated in respect of the Excluded Amount) from all Collection Periods to date expressed as dollar amount and as a percentage of the aggregate Cut-Off Date Principal Balances of the Mortgage Loans; (xv) the Note Balance of the Notes and the Certificate Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xvi) the balance of the Funding Account as of the end of the prior calendar month that have been made by the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately statedpreceding Collection Period; (xiiixvii) the Overcollateralization Level at Percentage Interest applicable to each of the close Securities, after application of business payments made on such Distribution Payment Date; (xivxviii) the amount, if any, withdrawn from Overcollateralization Amount as of the end of the preceding Collection Account and paid to the Fiscal Agent, the Indenture Trustee, the Servicer or the Special Servicer as reimbursement for Nonrecoverable AdvancesPeriod; (xv) with respect to any Mortgage Loan that is delinquent in respect of three or more Monthly Payments, (A) the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances and Servicing

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Servicer shall provide forward the Servicing Certificate to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), and the Indenture Trustee Trustee, pursuant to Section 3.26 of the Indenture, shall forward make such Servicing Certificate available to each Bondholder of record Certificateholder, each Noteholder, RAMP, the Owner Trustee, the Certificate Paying Agent, each Rating Agency and the Enhancer. The Servicing Certificate shall set forth the following information as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amountaggregate amount of (a) Interest Collections, if any(b) Principal Collections (and, of the distributions with respect to any Payment Date relating to the holders of each Class of Bonds on such Distribution Date applied to reduce Managed Amortization Period, Net Principal Collections), (c) Substitution Adjustment Amounts and (d) Excess Spread, for the aggregate Bond Class Balance thereofrelated Collection Period; (ii) the amount of such distribution as principal to the distributions to holders Noteholders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsNotes; (iii) the outstanding Funding Note Balance amount of such distribution as interest to the Noteholders of each Class of Notes, the amount thereof, if any, payable in respect of unpaid Interest Shortfalls, and the amount of any Interest Shortfalls and Relief Act Shortfalls for the related Determination Payment Date; (iv) each Policy Draw Amount, if any, for such Payment Date and the number and Aggregate Stated Principal Balance aggregate amount of outstanding Mortgage Loans in prior draws on the Mortgage PoolPolicy thereunder not yet reimbursed; (v) the number and aggregate Stated Principal Balance amount of Mortgage Loans in such distribution to the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedCertificateholders; (vi) with respect the amount of any Additional Balance Increase Amount payable to any REO Property acquired during the related Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO PropertyCertificateholders; (vii) (A) the most recent appraised value aggregate Principal Balance of any REO Property the Mortgage Loans as of the related Determination Date, (B) beginning and as to any REO Property sold during of the end of the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage Loan; (viii) the number and aggregate Bond Class Balance Principal Balances of Mortgage Loans (a) as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days, 150-179 days and greater than 180 days, respectively, (b) the related Mortgaged Property of which has been foreclosed upon and (c) as to which the related Mortgaged Property has become REO Property, in each Class case as of Bonds before and after giving effect the end of the related Collection Period; provided, however, that such information shall not be provided on the statements relating to the distributions made on such Distribution first Payment Date; (ix) the number and aggregate amount Principal Balance of Principal Prepayments made during the related Prepayment Period; (x) the aggregate amount of servicing compensation retained by or paid to the Servicer and the Special Servicer; (xi) the amount of Realized Losses, if any, incurred with respect to the Mortgage Loans repurchased pursuant to Section 3.15(a) herein during the related Collection Period; (x) the Net WAC Rate for the related Collection Period; (xi) prior to the second Determination Date following the commencement of the Rapid Amortization Period, the aggregate amount of Additional Balances created during the related Collection Period and conveyed to the Issuer prior to the commencement of such Rapid Amortization Period; (xii) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount distributed as principal to Noteholders or paid to the Funding Account in respect of Servicing Advances Liquidation Loss Amounts and P&I Advances outstanding as the aggregate of the end Liquidation Loss Amounts (minus any Subsequent Net Recovery Amounts) from all Collection Periods to date expressed as dollar amount and as a percentage of the prior calendar month that have been made by aggregate Cut-Off Date Principal Balances of the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately statedMortgage Loans; (xiii) the Overcollateralization Level at aggregate Note Balance of each Class of Notes and the close Certificate Balance of business each Class of the Certificates after giving effect to the distribution of principal on such Distribution Payment Date; (xiv) the amountbalance of the Pre-Funding Account, if anyCapitalized Interest Account, withdrawn from the Collection Funding Account and paid to the Fiscal Agent, Reserve Sub-Account as of the Indenture Trustee, beginning and as of the Servicer or end of the Special Servicer as reimbursement for Nonrecoverable Advancesrelated Collection Period; (xv) with respect the Percentage Interest applicable to any Mortgage Loan that is delinquent in respect each of three or more Monthly Paymentsthe Securities, after application of payments made on such Payment Date; (Axvi) the loan number thereof, Overcollateralization Amount as of the end of the related Collection Period and whether the Excess Spread Test is satisfied as of the end of the related Collection Period; (Bxvii) the unpaid balance thereofaggregate Principal Balance of Subsequent Mortgage Loans transferred to the Trust Estate during the related Collection Period; (xviii) the applicable Record Date, Determination Date and Payment Date; (C) whether the delinquency is in respect of any Balloon Payment, (Dxix) the aggregate amount of unrepayments received with respect to the Mortgage Loans including prepayment amounts; (xx) the Servicing Fee payable to the Servicer; (xxi) the amount of any other fees and expenses paid, and the identity of the party receiving such fees or expenses; (xxii) the amount, terms and general purpose of any Advance by the Servicer pursuant to Section 3.02 hereof and the amount of all Servicing Advances that have been reimbursed during the preceding Collection Period; and (xxiii) any material modifications, extensions or waivers to the terms of the Mortgage Loans during the Collection Period or that have cumulatively become material over time. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Note or Certificate, as applicable, with a $25,000 denomination per Note and with a denomination equal to a 100% Percentage Interest per Certificate. If a Rapid Amortization Event or a Servicing Default shall occur, on the Business Day following the related Determination Date, the Servicer shall forward to the Indenture Trustee a statement to such effect, including the nature of such Rapid Amortization Event or Servicing Default. Upon the Servicer's becoming aware of any Early Amortization Event, the Servicer shall forward to the Indenture Trustee a statement to such effect, including the nature of such Early Amortization Event. The Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall deliver or cause to be delivered by mail to each Certificateholder, each Noteholder, the Enhancer, RAMP, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, notice of such Rapid Amortization Event, Early Amortization Event or Servicing Default, including the nature thereof. Such statement may be included in, or separate from, the regular statement made available to Securityholders. The Indenture Trustee will make the Servicing Certificate (and, at its option, any additional files containing the same information in an alternative format) available each month to Securityholders, and other parties to this Agreement via the Indenture Trustee's internet website. The Indenture Trustee's internet website shall initially be located at "▇▇▇.▇▇▇▇▇▇▇▇ .▇&▇ Advances ▇▇." Assistance in using the website can be obtained by calling the Indenture Trustee's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and Servicingindicating such. The Indenture Trustee shall have the right to change the way the statements to Securityholders are distributed in order to make such distribution more convenient or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Indenture Trustee may require registration and the acceptance of a disclaimer in connection with access to its website. (b) The Servicer shall forward to the Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on the Business Day next succeeding each Determination Date, the Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and the Reserve Sub-Account and deposited into the Note Payment Account, Reserve Sub-Account, Funding Account or Distribution Account on the Business Day preceding the related Payment Date pursuant to Section 3.03. The determination by the Servicer of such amounts shall, in the absence of obvious error, be deemed to be presumptively correct for all purposes hereunder, and the Owner Trustee and the Indenture Trustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer's written request, the Servicer shall promptly furnish such information reasonably requested by the Issuer that is reasonably available to the Servicer to enable the Issuer to perform its federal and state income tax reporting obligations. (c) If the Note Balance of the Variable Pay Revolving Notes is to be reduced on any Payment Date pursuant to the terms of the Indenture, the Servicer shall, not later than 12:00 Noon (New York time) on the second Business Day prior to such Payment Date, deliver a written notice to the Administrative Agent specifying the amount of such reduction.

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Servicer shall provide forward the Servicing Certificate to the Indenture Trustee and the Paying Agent, and the Paying Agent, pursuant to Section 3.26 of the Indenture, shall on such Payment Date make such Servicing Certificate available to each Certificateholder, each Noteholder, the Depositor, the Owner Trustee, in electronic form (the Certificate Paying Agent, the Paying Agent and each Rating Agency, with a copy to the Rating Agencies and each Paying Agent), and Enhancer. The Servicing Certificate shall set forth the Indenture Trustee shall forward to each Bondholder of record following information as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amountaggregate amount of (a) Interest Collections, if any(b) Principal Collections (and, of the distributions with respect to any Payment Date relating to the holders of each Class of Bonds on Managed Amortization Period, Net Principal Collections) and (c) Substitution Adjustment Amounts for such Distribution Date applied to reduce the aggregate Bond Class Balance thereofCollection Period; (ii) the amount of such distribution as principal to the distributions to holders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsNoteholders; (iii) the outstanding Funding Note Balance amount of such distribution as interest to the Noteholders, the amount thereof, if any, payable in respect of unpaid Interest Shortfalls, and the amount of any Interest Shortfalls for the related Determination Payment Date; (iv) each Deficiency Amount, if any, for such Payment Date and the number and Aggregate Stated Principal Balance aggregate amount of outstanding Mortgage Loans in prior draws on the Mortgage PoolPolicy thereunder not yet reimbursed; (v) the number and aggregate Stated Principal Balance of Mortgage Loans in amount, if any, received under the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedYield Maintenance Agreement; (vi) with respect the amount of such distribution to any REO Property acquired during the related Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO PropertyCertificateholders; (vii) (A) the most recent appraised value amount of any REO Property as of Additional Balance Increase Amount payable to the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable Certificateholders and the amount of the proceeds Principal Collections paid in respect of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage LoanAdditional Balance Increase Amount; (viii) the aggregate Bond Class Principal Balance of each Class the Mortgage Loans as of Bonds before and after giving effect to the distributions made on such Distribution Dateend of the preceding Collection Period; (ix) the number and aggregate amount Principal Balances of Principal Prepayments made during Mortgage Loans (a) as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days, 150-179 days and 180 or more days, respectively, (b) the related Prepayment Mortgaged Property of which has been foreclosed upon and (c) as to which the related Mortgaged Property has become REO Property, in each case as of the end of the preceding Collection Period; provided, however, that such information shall not be provided on the statements relating to the first Payment Date; (x) LIBOR for the aggregate amount of servicing compensation retained by or paid to the Servicer and the Special Servicerrelated Interest Period; (xi) the amount of Realized Losses, if any, incurred with respect to Note Rate for the Mortgage Loans during Notes for such Payment Date; (xii) the Net WAC Rate for the related Collection Period; (xiixiii) prior to the second Determination Date following the commencement of the Rapid Amortization Period, the aggregate amount of Servicing Advances Additional Balances created during the previous Collection Period and P&I Advances outstanding conveyed to the Issuer prior to the commencement of the Rapid Amortization Period; (xiv) the aggregate Liquidation Loss Amounts (other than amounts allocated in respect of the Excluded Amount) with respect to the related Collection Period, the amount distributed as principal to Noteholders in respect of Liquidation Loss Amounts and the aggregate of the Liquidation Loss Amounts (minus any Subsequent Recovery Amounts and other than amounts allocated in respect of the Excluded Amount) from all Collection Periods to date expressed as dollar amount and as a percentage of the aggregate Cut-Off Date Principal Balances of the Mortgage Loans; (xv) the Note Balance of the Notes and the Certificate Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xvi) the balance of the Funding Account as of the end of the prior calendar month that preceding Collection Period; (xvii) the Percentage Interest applicable to each of the Securities, after application of payments made on such Payment Date; (xviii) the Overcollateralization Amount as of the end of the preceding Collection Period; (xix) the aggregate Principal Balance of Subsequent Mortgage Loans transferred to the Trust Estate since the Closing Date; (xx) reserved; (xxi) reserved; (xxii) on or after the Stepdown Date, a statement (yes or no) as to whether each of the Stepdown Delinquency Test and the Stepdown Cumulative Loss Test have been made by met as of the Servicerrelated Payment Date; (xxiii) the aggregate outstanding Principal Balance of the three largest Mortgage Loans as of the close of business on the last day of the related Collection Period; (xxiv) the Overcollateralization Target Amount; and (xxv) the number of Mortgage Loans that are the subject of a Promotional Rate and the aggregate amount of Promotional Advances with respect to such Mortgage Loan. In the case of information furnished pursuant to clauses (ii) and (iii) above, the Special Serviceramounts shall be expressed as an aggregate dollar amount per Note or Certificate, as applicable, with a $______ denomination and per Certificate with a denomination equal to a 100% Percentage Interest. If a Managed Amortization Event, a Rapid Amortization Event or a Servicing Default shall occur, on the Business Day following the related Determination Date, the Servicer shall forward to the Indenture Trustee and the Fiscal Paying Agent, separately stated; (xiii) a statement to such effect, including the Overcollateralization Level at the close nature of business on such Distribution Date; (xiv) the amountRapid Amortization Event or Servicing Default. The Paying Agent shall deliver or cause to be delivered by mail to each Certificateholder, if any, withdrawn from the Collection Account and paid to the Fiscal Agenteach Noteholder, the Indenture Enhancer, the Depositor, the Owner Trustee, the Servicer Certificate Paying Agent and each Rating Agency, notice of such Managed Amortization Event, Rapid Amortization Event or Servicing Default, including, in the Special Servicer as reimbursement for Nonrecoverable Advances; case of a Rapid Amortization Event or a Servicing Default, the nature thereof. Such statement may be included in, or separate from, the regular statement sent to Securityholders. The Paying Agent shall make the Servicing Certificate (xvand, at its option, any additional files containing the same information in an alternative format) with respect available each month to any Mortgage Loan that is delinquent in respect of three or more Monthly PaymentsSecurityholders and the Enhancer, (A) and other parties to this Agreement via the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unrePaying Agent’s internet website. The Paying Agent’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇ ▇&▇ Advances ▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Paying Agent’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and Servicingindicating such. The Paying Agent shall have the right to change the way the statements to Securityholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Paying Agent shall provide timely and adequate notification to all above parties regarding any such changes. The Paying Agent may require registration and the acceptance of a disclaimer in connection with access to its website (b) The Servicer shall forward to the Paying Agent any other information reasonably requested by the Paying Agent necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on the Business Day next succeeding each Determination Date, the Servicer shall furnish a written statement to the Certificate Paying Agent, the Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and deposited into the Note Payment Account, Funding Account and/or Distribution Account on the Business Day preceding the related Payment Date pursuant to Section 3.04. The determination by the Servicer of such amounts shall, in the absence of obvious error, be deemed to be presumptively correct for all purposes hereunder, and the Owner Trustee, the Paying Agent and the Indenture Trustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer’s written request, the Servicer shall promptly furnish such information reasonably requested by the Issuer that is reasonably available to the Servicer to enable the Issuer to perform its federal and state income tax reporting obligations.

Statements to Securityholders. Not later than 10:00 A.M. on (a) On each Determination Distribution Date, the Servicer shall provide to the Indenture Trustee, in electronic form Owner Trustee (with a copy copies to the Depositor, the Rating Agencies and each Paying Agent), and the Indenture Trustee shall forward to each Bondholder of record as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent ) to forward to each Certificateholder of record, and to the Indenture Trustee, either directly or through a Paying Agent, to forward to each Noteholder of record as of a statement, based on the most recent Record Date) related Servicer's Certificate setting forth at least the following statements: (a) a statement information as to the Securities with respect to the related Distribution Date and Collection Period, in substantially in the form of Exhibit B, setting forth, to the extent applicable: (i) the amount, if any, amount of the distributions such distribution allocable to the holders of principal for each Class of Bonds on such Distribution Date applied to reduce the aggregate Bond Class Balance thereofNotes; (ii) the amount of the distributions to holders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsPriority Principal Distributable Amount; (iii) the outstanding Funding Note Balance as of the related Determination DateSecondary Principal Distributable Amount; (iv) the number and Aggregate Stated Tertiary Principal Balance of outstanding Mortgage Loans in the Mortgage PoolDistributable Amount; (v) the number and aggregate Stated Regular Principal Balance of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedDistributable Amount; (vi) with respect the amount of such distribution allocable to current and overdue interest (including any REO Property acquired during the related Collection Period, the Stated Principal Balance interest on overdue interest) for each Class of the related Mortgage Loan as of the date of acquisition of the REO PropertyNotes; (vii) (A) the most recent appraised value of any REO Property as of the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage LoanTotal Servicing Fee; (viii) the aggregate Bond Class Balance of each Class of Bonds before and after giving effect to the distributions made on such Distribution DateTotal Trustee Fees; (ix) the aggregate amount outstanding principal balance of Principal Prepayments made during each Class of Notes and the related Prepayment PeriodNote Pool Factor with respect to each Class of Notes (in each case after giving effect to payments allocated to principal reported under clause (i) above); (x) the aggregate amount Pool Balance as of servicing compensation retained by or paid to the Servicer and close of business on the Special Servicer; (xi) the amount last day of Realized Losses, if any, incurred with respect to the Mortgage Loans during the related Collection Period; (xi) the Reserve Fund Amount on such Distribution Date (after giving effect to all deposits to or withdrawals from the Reserve Fund on such Distribution Date) and the Reserve Fund Draw Amount; (xii) the aggregate amount Purchase Amount of Servicing Advances and P&I Advances outstanding as of Receivables repurchased by the end of the prior calendar month that have been made Seller or purchased by the Servicer, if any, with respect to the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately statedrelated Collection Period; (xiii) the Overcollateralization Level at number and aggregate Principal Balance of Receivables that were 31-60 days, 61-90 days or 91 days or more delinquent as of the close last day of business on such Distribution Datethe related Collection Period; (xiv) the amount, if any, withdrawn from the Collection Account and paid Net Losses with respect to the Fiscal Agent, the Indenture Trustee, the Servicer or the Special Servicer as reimbursement for Nonrecoverable Advancesrelated Collection Period; (xv) with respect the Overcollateralization Target Amount and the amount by which the Pool Balance exceeds the Note Balance (after giving effect to any Mortgage Loan that is delinquent in respect of three or more Monthly Payments, payments made to the Noteholders on such Distribution Date); (Axvi) the loan number amount of Available Collections for the related Collection Period; (xvii) the Cumulative Net Loss Percentage and the Sequential Payment Trigger; (xviii) the Yield Supplement Account Draw Amount; and (xix) the amount of Excess Collections. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of the Issuer, but not later than the latest date permitted by law, the related Trustee, upon receipt thereof, (B) shall mail to each Person who at any time during such calendar year shall have been a Securityholder, a statement, prepared by the unpaid balance thereofServicer, (C) whether containing certain information for such calendar year or, in the delinquency is in respect event such Person shall have been a Securityholder during a portion of such calendar year, for the applicable portion of such year, for the purposes of such Securityholder's preparation of federal income tax returns. In addition, the Servicer shall furnish to the Trustees for distribution to such Person at such time any Balloon Payment, (D) other information necessary under applicable law for the aggregate amount preparation of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances and Servicingsuch income tax returns.

Statements to Securityholders. Not later than 10:00 A.M. on (a) On each Determination Distribution Date, the Servicer shall provide to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), and i) the Indenture Trustee shall forward include with each distribution to each Bondholder Noteholder of record as of the most recent related Record Date and to (ii) the Owner Trustee (shall include with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward distribution to each Certificateholder of record as of the most recent related Record Date) Date a statement, prepared by the Master Servicer, based on the information in the Distribution Date Statement furnished pursuant to Section 4.09, setting forth for such Distribution Date the following statements: (a) a statement substantially in information as of the form of Exhibit Brelated Record Date or such Distribution Date, setting forth, to as the extent applicablecase may be: (i) the amount, if any, amount of the distributions such distribution allocable to the holders of principal (stated separately for each Class of Bonds on such Distribution Date applied to reduce the aggregate Bond Class Balance thereofNotes); (ii) the amount of the distributions such distribution allocable to holders of interest (stated separately for each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsNotes); (iii) the outstanding Funding Note Balance as Interest Distributable Amount for each Class of the related Determination DateNotes; (iv) the number amount of any Interest Carryover Shortfall on such Distribution Date and Aggregate Stated Principal Balance of outstanding Mortgage Loans the change in such amounts from those with respect to the Mortgage Poolimmediately preceding Distribution Date; (v) the number and aggregate Stated Principal Balance amount of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as Servicing Fee paid to which foreclosure proceedings have been commencedthe Master Servicer with respect to the related Collection Period; (vi) with respect to any REO Property acquired during the Aggregate Net Liquidation Losses for the related Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO Property; (vii) (A) the most recent appraised value aggregate Principal Balance of any REO Property Delinquent Contracts as of the related Determination Date, (B) as to any REO Property sold during close of business on the related last day of such Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage Loan; (viii) the aggregate Bond Class Aggregate Principal Balance as of each Class the close of Bonds before and after giving effect to business on the distributions made on last day of such Distribution DateCollection Period; (ix) the aggregate principal amount of Principal Prepayments made during the related Prepayment Periodeach Class of Notes as of such Distribution Date, after giving effect to payments allocated to principal reported under clause (i) above; (x) the aggregate amount of servicing compensation retained by or paid to the Servicer and the Special ServicerCertificate Distributable Amount; (xi) the amount of Realized Losseson deposit in the Spread Account on such Distribution Date, if anyafter giving effect to distributions made on such Distribution Date, incurred with respect to and the Mortgage Loans during change in such balance from the related Collection Periodimmediately preceding Distribution Date; (xii) the aggregate Overcollateralization Amount and the amount of Servicing Advances and P&I Advances outstanding as by which the Aggregate Principal Balance exceeds the Outstanding Amount of the end Notes (after giving effect to any payments made to Holders of the prior calendar month Notes on that have been made by the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately statedDistribution Date); (xiii) the disposition amounts withdrawn from the Spread Account, including the amounts used to increase the level of overcollateralization to the Overcollateralization Level at Amount, and the close of business on Excess Spread Amount, if any, for such Distribution Date; (xiv) the amount of Net Collections; (xv) during the Pre-Funding Period, the amount, if any, withdrawn from the Pre-Funding Account to purchase Subsequent Contracts during the Pre-Funding Period; and (xvi) for the first Distribution Date immediately following the end of the Pre-Funding Period, the Remaining Pre-Funding Amount, if any, as of the close of business of the last day of the related Collection Account Period. Each amount set forth pursuant to clauses (i), (ii), (iv) and paid to (v) above shall be expressed in the Fiscal Agentaggregate and as a dollar amount per $1,000.00 original principal amount of a Note. (b) Within a reasonable period of time after the end of each calendar year, but not later than the latest date permitted by law, the Indenture TrusteeTrustee shall mail to each Person who at any time during such calendar year shall have been a Holder of a Note a statement or statements, prepared by the Master Servicer, which in the aggregate contain the sum of the amounts set forth in clauses (i), (ii), (iv) and (v) of above for such calendar year or, in the event such Person shall have been a Holder of a Note during a portion of such calendar year, for the applicable portion of such year, for the purposes of such Noteholder's preparation of federal income tax returns. In addition, the Master Servicer or shall furnish to the Special Servicer as reimbursement Indenture Trustee for Nonrecoverable Advances; (xv) with respect distribution to such Person at such time any Mortgage Loan that is delinquent in respect other information necessary under applicable law for the preparation of three or more Monthly Payments, (A) the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances and Servicingsuch income tax returns.

Statements to Securityholders. Not later than 10:00 A.M. on (a) On or prior to each Determination Payment Date, the Servicer shall provide to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies Trustee and each Paying Agent), and the Indenture Trustee shall forward to each Bondholder of record as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement Rating Agencies) for such Paying Agent the Trustee and the Owner Trustee to forward to each Certificateholder Securityholder of record as (in the case of the most recent Record DateTrustee, pursuant to Section 5.8(b)) the following statements: (a) a statement or statements provided by the Servicer in substantially in the form of attached hereto as Exhibit B, E setting forth, to forth at least the extent applicablefollowing information: (i) the amount, if any, amount of the any distributions allocable to the holders principal of each Class of Bonds on such Distribution Date applied to reduce the aggregate Bond Class Balance thereofNotes; (ii) the amount of the distributions such distribution allocable to holders of interest on or with respect to each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsNotes; (iii) the outstanding Funding Note Pool Balance as of the close of business on the last day of the related Determination DateCollection Period; (iv) the number and Aggregate Stated Principal Note Balance for each Class of outstanding Mortgage Loans in the Mortgage PoolNotes after giving effect to payments allocated to principal reported under clause (i) above; (v) the number amount of the Servicing Fee paid to the Servicer with respect to the related Collection Period, and aggregate Stated Principal Balance the amount of Mortgage Loans any unpaid Servicing Fees and the change in such amount from the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedprior Payment Date; (vi) the amount of the Backup Servicing Fee and the Trustee Fees paid to the Backup Servicer, the Trustee and the Owner Trustee, as applicable, with respect to any REO Property acquired during the related Collection Period, and the Stated Principal Balance amount of any unpaid Backup Servicing Fees and Trustee Fees and the related Mortgage Loan as of change in all such amounts from the date of acquisition of the REO Propertyprior Payment Date; (vii) (A) the most recent appraised value Noteholders’ Interest Carryover Shortfall for each Class of any REO Property as of the related Determination Notes for such Payment Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage Loan; (viii) the aggregate Bond Class Balance of each Class of Bonds before and after giving effect amount, if any, paid to the distributions made on Noteholders from the Series 2012-C Spread Account for such Distribution Payment Date; (ix) the aggregate amount of Principal Prepayments made during in the related Prepayment PeriodSeries 2012-C Spread Account and the change in such amount from the previous Payment Date and the Specified Spread Account Requisite Amount for such Payment Date; (x) the aggregate amount number of servicing compensation retained by or paid to the Servicer Receivables and the Special Serviceraggregate net balance thereon for which the related Obligors are delinquent in making Scheduled Receivable Payments for (a) 31 to 60 days, (b) 61 to 90 days, and (c) 91 days or more; (xi) the amount of Realized Losses, if any, incurred number and the aggregate Purchase Amounts for Receivables purchased by CPS or purchased by the Servicer during the related Collection Period and summary information as to losses and delinquencies with respect to such Receivables; (xii) the Mortgage Loans Principal Balance of all Receivables that have become Liquidated Receivables, net of Recoveries, during the related Collection Period; (xii) the aggregate amount of Servicing Advances and P&I Advances outstanding as of the end of the prior calendar month that have been made by the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately stated; (xiii) the Overcollateralization Level at cumulative Principal Balance of all Receivables that have become Liquidated Receivables, net of Recoveries, during the close period from the Cutoff Date to the last day of business on such Distribution Datethe related Collection Period; (xiv) the amount, if any, withdrawn from amount of any Texas Franchise Tax due and owing by CPS under the Collection Account and paid Receivables Purchase Agreement to the Fiscal Agent, taxing authority of the Indenture Trustee, State of Texas on or prior to the Servicer related Payment Date or paid by CPS since the Special Servicer as reimbursement for Nonrecoverable Advancesprior Payment Date; (xv) the Three-Month Rolling Average Extension Ratio, the Cumulative Net Loss Rate, the Delinquency Ratio and the Three-Month Rolling Average Delinquency Ratio; (xvi) the aggregate Sale Amount with respect to Sold Receivables, if any, during the related Collection Period; (xvii) for any Mortgage Loan Payment Date during the Funding Period, the Pre-Funded Amount and the change in such amount from the previous Payment Date; and (xviii) for the Mandatory Redemption Date, the amount of any remaining Pre-Funded Amount that is delinquent was not used to fund the purchase of Subsequent Receivables. (b) Within 60 days after the end of each calendar year, the Servicer shall deliver to the Trustee a statement setting forth the amounts paid during such preceding calendar year in respect of three or more Monthly Paymentsparagraphs (i), (A) the loan number thereofii), (Bv) the unpaid balance thereof, and (Cvi) whether the delinquency is above. The Trustee shall mail a copy of such statement to each person who at any time during such preceding calendar year shall have been a Securityholder of record and received any payment in respect of any Balloon Paymentthe Securities. (c) The Trustee may make available to the Securityholders, (D) via the aggregate amount Trustee’s Internet Website, all statements described herein and, with the consent or at the direction of unrethe Seller, such other information regarding the Notes and/or the Receivables as the Trustee may have in its possession, but only with the use of a password provided by the Trustee. The Trustee will make no representation or warranties as to the accuracy or completeness of such documents and will assume no responsibility therefor. The Trustee’s Internet Website shall be initially located at “w▇▇.▇▇▇▇▇▇▇▇ .▇&▇ Advances ▇▇” or at such other address as shall be specified by the Trustee from time to time in writing to the Securityholders. In connection with providing access to the Trustee’s Internet Website, the Trustee may require registration and Servicingthe acceptance of a disclaimer. The Trustee shall not be liable for the dissemination of information in accordance with this Agreement. (d) The Servicer will supply to the Trustee, at the time and in the manner required by applicable Treasury Regulations, for further distribution to such Persons, and to the extent, required by applicable Treasury Regulations information with respect to any “original issue discount” accruing on the Class D Notes and the Class E Notes.

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Servicer shall provide forward the Servicing Certificate to the Indenture Trustee and the Paying Agent, and the Paying Agent, pursuant to Section 3.26 of the Indenture, shall on such Payment Date make such Servicing Certificate available to each Certificateholder, each Noteholder, the Depositor, the Owner Trustee, in electronic form (the Certificate Paying Agent, the Paying Agent and each Rating Agency, with a copy to the Rating Agencies and each Paying Agent), and Enhancer. The Servicing Certificate shall set forth the Indenture Trustee shall forward to each Bondholder of record following information as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amountaggregate amount of (a) Interest Collections, if any(b) Principal Collections (and, of the distributions with respect to any Payment Date relating to the holders of each Class of Bonds on Managed Amortization Period, Net Principal Collections) and (c) Substitution Adjustment Amounts for such Distribution Date applied to reduce the aggregate Bond Class Balance thereofCollection Period; (ii) the amount of such distribution as principal to the distributions to holders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsNoteholders; (iii) the outstanding Funding Note Balance amount of such distribution as interest to the Noteholders, the amount thereof, if any, payable in respect of unpaid Interest Shortfalls, and the amount of any Interest Shortfalls for the related Determination Payment Date; (iv) each Deficiency Amount, if any, for such Payment Date and the number and Aggregate Stated Principal Balance aggregate amount of outstanding Mortgage Loans in prior draws on the Mortgage PoolPolicy thereunder not yet reimbursed; (v) the number and aggregate Stated Principal Balance of Mortgage Loans in amount, if any, received under the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedYield Maintenance Agreement; (vi) with respect the amount of such distribution to any REO Property acquired during the related Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO PropertyCertificateholders; (vii) (A) the most recent appraised value amount of any REO Property as of Additional Balance Increase Amount payable to the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable Certificateholders and the amount of the proceeds Principal Collections paid in respect of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage LoanAdditional Balance Increase Amount; (viii) the aggregate Bond Class Principal Balance of each Class the Mortgage Loans as of Bonds before and after giving effect to the distributions made on such Distribution Dateend of the preceding Collection Period; (ix) the number and aggregate amount Principal Balances of Principal Prepayments made during Mortgage Loans (a) as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days, 150-179 days and 180 or more days, respectively, (b) the related Prepayment Mortgaged Property of which has been foreclosed upon and (c) as to which the related Mortgaged Property has become REO Property, in each case as of the end of the preceding Collection Period; provided, however, that such information shall not be provided on the statements relating to the first Payment Date; (x) LIBOR for the aggregate amount of servicing compensation retained by or paid to the Servicer and the Special Servicerrelated Interest Period; (xi) the amount of Realized Losses, if any, incurred with respect to Note Rate for the Mortgage Loans during Notes for such Payment Date; (xii) the Net WAC Rate for the related Collection Period; (xiixiii) prior to the second Determination Date following the commencement of the Rapid Amortization Period, the aggregate amount of Servicing Advances Additional Balances created during the previous Collection Period and P&I Advances outstanding conveyed to the Issuer prior to the commencement of the Rapid Amortization Period; (xiv) the aggregate Liquidation Loss Amounts (other than amounts allocated in respect of the Excluded Amount) with respect to the related Collection Period, the amount distributed as principal to Noteholders in respect of Liquidation Loss Amounts and the aggregate of the Liquidation Loss Amounts (minus any Subsequent Recovery Amounts and other than amounts allocated in respect of the Excluded Amount) from all Collection Periods to date expressed as dollar amount and as a percentage of the aggregate Cut-Off Date Principal Balances of the Mortgage Loans; (xv) the Note Balance of the Notes and the Certificate Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xvi) the balance of the Funding Account as of the end of the prior calendar month that preceding Collection Period; (xvii) the Percentage Interest applicable to each of the Securities, after application of payments made on such Payment Date; (xviii) the Overcollateralization Amount as of the end of the preceding Collection Period; (xix) the aggregate Principal Balance of Subsequent Mortgage Loans transferred to the Trust Estate since the Closing Date; (xx) reserved; (xxi) reserved; (xxii) on or after the Stepdown Date, a statement (yes or no) as to whether each of the Stepdown Delinquency Test and the Stepdown Cumulative Loss Test have been made by met as of the Servicerrelated Payment Date; (xxiii) the aggregate outstanding Principal Balance of the three largest Mortgage Loans as of the close of business on the last day of the related Collection Period; (xxiv) the Overcollateralization Target Amount; and (xxv) the number of Mortgage Loans that are the subject of a Promotional Rate and the aggregate amount of Promotional Advances with respect to such Mortgage Loan. In the case of information furnished pursuant to clauses (ii) and (iii) above, the Special Serviceramounts shall be expressed as an aggregate dollar amount per Note or Certificate, as applicable, with a $25,000 denomination and per Certificate with a denomination equal to a 100% Percentage Interest. If a Managed Amortization Event, a Rapid Amortization Event or a Servicing Default shall occur, on the Business Day following the related Determination Date, the Servicer shall forward to the Indenture Trustee and the Fiscal Paying Agent, separately stated; (xiii) a statement to such effect, including the Overcollateralization Level at the close nature of business on such Distribution Date; (xiv) the amountRapid Amortization Event or Servicing Default. The Paying Agent shall deliver or cause to be delivered by mail to each Certificateholder, if any, withdrawn from the Collection Account and paid to the Fiscal Agenteach Noteholder, the Indenture Enhancer, the Depositor, the Owner Trustee, the Servicer Certificate Paying Agent and each Rating Agency, notice of such Managed Amortization Event, Rapid Amortization Event or Servicing Default, including, in the Special Servicer as reimbursement for Nonrecoverable Advances; case of a Rapid Amortization Event or a Servicing Default, the nature thereof. Such statement may be included in, or separate from, the regular statement sent to Securityholders. The Paying Agent shall make the Servicing Certificate (xvand, at its option, any additional files containing the same information in an alternative format) with respect available each month to any Mortgage Loan that is delinquent in respect of three or more Monthly PaymentsSecurityholders and the Enhancer, (A) and other parties to this Agreement via the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unrePaying Agent's internet website. The Paying Agent's internet website shall initially be located at "▇▇▇.▇▇▇▇▇▇▇▇ ▇&▇ Advances ▇▇▇▇.▇▇▇". Assistance in using the website can be obtained by calling the Paying Agent's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and Servicingindicating such. The Paying Agent shall have the right to change the way the statements to Securityholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Paying Agent shall provide timely and adequate notification to all above parties regarding any such changes. The Paying Agent may require registration and the acceptance of a disclaimer in connection with access to its website (b) The Servicer shall forward to the Paying Agent any other information reasonably requested by the Paying Agent necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on the Business Day next succeeding each Determination Date, the Servicer shall furnish a written statement to the Certificate Paying Agent, the Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and deposited into the Note Payment Account, Funding Account and/or Distribution Account on the Business Day preceding the related Payment Date pursuant to Section 3.04. The determination by the Servicer of such amounts shall, in the absence of obvious error, be deemed to be presumptively correct for all purposes hereunder, and the Owner Trustee, the Paying Agent and the Indenture Trustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer's written request, the Servicer shall promptly furnish such information reasonably requested by the Issuer that is reasonably available to the Servicer to enable the Issuer to perform its federal and state income tax reporting obligations.

Statements to Securityholders. Not later than 10:00 A.M. on (a) On or prior to each Determination Payment Date, the Servicer shall provide to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies Trustee and each Paying Agent), and the Indenture Trustee shall forward to each Bondholder of record as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement Note Insurer and the Rating Agencies) for such Paying Agent the Trustee and Owner Trustee to forward to each Certificateholder Securityholder of record as of the most recent Record Date) a statement setting forth at least the following statements: (a) a statement substantially in information as to the form of Exhibit B, setting forth, Notes and the Certificates to the extent applicable: (i) the amount, if any, amount of such distribution allocable to principal of the distributions to Class A-1 Notes, the holders of each Class of Bonds on such Distribution Date applied to reduce A-2 Notes, the aggregate Bond Class Balance thereofA-3 Notes, the Class A-4 Notes and the Class A-5 Notes, respectively; (ii) the amount of the distributions to holders of each Class of Bonds on such Distribution Date distribution allocable to (A) interestinterest on or with respect to the Class A-1 Notes, (B) Interest Carryover Shortfalls the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and (C) Prepayment Premiumsthe Class A-5 Notes, respectively; (iii) the outstanding Funding amount of such distribution payable out of amounts withdrawn from the Spread Account or pursuant to a claim on the Note Balance as of the related Determination DatePolicy; (iv) the number and Aggregate Stated Principal Pool Balance as of outstanding Mortgage Loans in the Mortgage Poolclose of business on the last day of the preceding Collection Period; (v) the number and aggregate Stated Principal Balance outstanding principal amount of Mortgage Loans in each Class of Notes, the Mortgage Note Pool Factor for each Class of Notes after giving effect to payments allocated to principal reported under clause (Ai) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedabove; (vi) the amount of the Servicing Fee paid to the Servicer with respect to any REO Property acquired during the related Collection Period, and the Stated Principal Balance amount of any unpaid Servicing Fees and the related Mortgage Loan as of change in such amount from the date of acquisition of the REO Propertyprior Payment Date; (vii) (A) the most recent appraised value amount of any REO Property as each of the related Determination DateStandby Fee, (B) the Trustee Fee and the Collateral Agent Fee paid to the Standby Servicer, the Trustee and the Collateral Agent, as applicable, with respect to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of any unpaid Standby Fees, Trustee Fees and Collateral Agent Fees and the proceeds of change in such sale deposited into amount from the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage Loanprior Payment Date; (viii) the aggregate Bond Class Balance of each A-1 Noteholders' Interest Carryover Shortfall, the Class of Bonds before A-2 Noteholders' Interest Carryover Shortfall, the Class A-3 Noteholders' Interest Carryover Shortfall, the Class A-4 Noteholders' Interest Carryover Shortfall, the Class A-5 Noteholders' Interest Carryover Shortfall and after giving effect to the distributions made on such Distribution DateNoteholders' Principal Carryover Shortfall; (ix) the number of Receivables and the aggregate gross amount of Principal Prepayments made during scheduled to be paid thereon, including unearned finance and other charges, for which the related Prepayment PeriodObligors are delinquent in making Scheduled Receivable Payments for (a) 31 to 59 days, (b) 60 to 89 days, (c) 90 to 119 days, (d) 120 to 149 days, (e) 150 to 179 days, (f) 180 to 209 days and (g) 210 days or more; (x) the aggregate amount of servicing compensation retained by or paid to the Servicer and aggregate Realized Losses, if any, for the Special Servicersecond preceding Collection Period; (xi) the amount of Realized Losses, if any, incurred any payments made with respect to the Mortgage Loans during the related Collection PeriodPayment Date pursuant to Sections 5.12(a)(i), (ii) and (iii), respectively; (xii) the aggregate amount of Servicing Advances and P&I Advances outstanding as of the end of the prior calendar month that have been made by the Servicer, the Special Servicer, the Indenture Trustee number and the Fiscal Agentaggregate Purchase Amounts for Receivables, separately statedif any, that were repurchased in such period and summary information as to losses and delinquencies with respect to the Receivables; (xiii) for Payment Dates during the Overcollateralization Level at Funding Period (if any), the close of business on such Distribution Dateremaining Pre-Funded Amount; (xiv) for the amount, if any, withdrawn from the Collection Account and paid to the Fiscal Agentfinal Subsequent Transfer Date, the Indenture Trustee, amount of any remaining Pre-Funded Amount that has not been used to fund the Servicer or the Special Servicer as reimbursement for Nonrecoverable Advances;purchase of Subsequent Receivables; and (xv) with respect the cumulative amount of Realized Losses, from the Initial Cutoff Date to any Mortgage Loan that is delinquent the last day of the related Collection Period. Each amount set forth pursuant to paragraphs (i), (ii), (iii), (vi), (vii), (viii) and (xi) above shall be expressed as a dollar amount per $1,000 of the initial principal balance of the Notes (or Class thereof) or Certificates, as applicable. (b) Within 60 days after the end of each calendar year, the Servicer shall deliver to the Trustee a statement setting forth the amounts paid during such preceding calendar year in respect of three or more Monthly Payments(i) principal of the Notes, (Aii) interest on the loan number thereof, Notes and (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances and Servicingiii)

Statements to Securityholders. Not later than 10:00 A.M. on (a) On each Determination ----------------------------- Distribution Date, the Servicer shall provide to the Indenture Owner Trustee, in electronic form (with a copy to or the Rating Agencies and each Paying Agent), shall include with each distribution to a Certificateholder, and the Indenture Trustee shall forward mail to each Bondholder of record as of Noteholder a statement prepared by the most recent Record Date and Servicer (which statement shall also be provided to the Owner Trustee (with a copy Rating Agencies), based on information in the Servicer's Certificate furnished pursuant to each Paying Agent under the Trust Agreement for Section 3.9. Each such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) statement shall set forth the following statements: (a) a statement substantially in the form of Exhibit B, setting forth, information as to the extent Securities with respect to such Distribution Date or the preceding Collection Period, as applicable: (i) the amount, if any, amount of the distribution allocable to principal with respect to each class of Notes and any distributions to on the holders Certificates and the derivation of each Class of Bonds on such Distribution Date applied to reduce the aggregate Bond Class Balance thereofamounts; (ii) the amount of the distributions to holders of each Class of Bonds on such Distribution Date distribution allocable to (A) interest, (B) Interest Carryover Shortfalls interest on or with respect to each class of Notes and (C) Prepayment Premiumsthe Certificates; (iii) amount of the outstanding Funding Note Balance as Total Servicing Fee paid or payable to the Servicer in respect of the related Determination DateCollection Period; (iv) the number aggregate Outstanding Advances (if any) as of the last day of the preceding Collection Period and Aggregate Stated Principal Balance of outstanding Mortgage Loans the change in such amount from the Mortgage Poolprevious Collection Period; (v) the number and aggregate Stated Principal Aggregate Receivables Balance as of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedclose of business on the last day of the preceding Collection Period; (vi) with respect the aggregate outstanding principal balance and the Note Pool Factor for each class of such Notes, in each case after giving effect to any REO Property acquired during the related Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO Propertyall payments reported under clause (i) above on such date; (vii) (A) the most recent appraised value of any REO Property as of the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into aggregate Realized Losses, if any, for the preceding Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage LoanPeriod; (viii) the aggregate Bond Noteholders' Interest Carryover Shortfall, the Class Balance A Noteholders' Interest Carryover Shortfall, the Class B Noteholders' Principal Carryover Shortfall, the Certificateholders' Interest Carryover Shortfall and the Certificateholders' Principal Carryover Shortfall, if any, in each case as applicable to each class of each Class of Bonds before Securities and after giving effect to the distributions made on change in such Distribution Dateamounts from the preceding statement; (ix) the aggregate amount of Principal Prepayments made during Repurchase Amount with respect to Purchased Receivables, if any, that were repurchased by the related Prepayment Seller or purchased by the Servicer in such Collection Period; (x) the aggregate amount balance of servicing compensation retained by or paid the Reserve Account, as of such date, after giving effect to changes therein on such date, calculation of the Servicer Average Delinquency Ratio, the Average Net Loss Ratio and the Special Servicer;Specified Reserve Account Balance on such date; and (xi) the amount of Realized Losses, if any, incurred with respect to the Mortgage Loans during the related Collection Period;Gross Loss Ratio. (xiib) the aggregate amount Within a reasonable period of Servicing Advances and P&I Advances outstanding as of time after the end of each calendar year, but not later than the prior calendar month that have been made latest date permitted by the Servicerlaw, the Special Servicer, Servicer shall furnish a report to the Indenture Trustee and the Fiscal AgentOwner Trustee and the Indenture Trustee or the Owner Trustee, separately stated; (xiii) the Overcollateralization Level as applicable, shall furnish, or cause to be furnished, to each Person who at the close of business on any time during such Distribution Date; (xiv) the amountcalendar year shall have been a Securityholder, if any, withdrawn from the Collection Account and paid such statement as to the Fiscal Agentsum of the amounts determined in clauses (i), (ii), (iii), (viii) and (x) above for such calendar year, or, in the Indenture Trusteeevent such Person shall have been a Securityholder during a portion of such calendar year, for the applicable portion of such year, and such other information as is available to the Servicer as the Servicer deems necessary or desirable to enable the Special Servicer as reimbursement for Nonrecoverable Advances; (xv) with respect Securityholders to any Mortgage Loan that is delinquent in respect of three or more Monthly Payments, (A) the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances and Servicingprepare their federal income tax returns.

Statements to Securityholders. Not later than 10:00 A.M. on (a) On each Determination Distribution Date, the Servicer shall provide to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), and i) the Indenture Trustee shall forward include with each distribution to each Bondholder Noteholder of record as of the most recent related Record Date Date, and to the Owner Trustee (with a copy to each Paying Agent under ii) the Trust Agreement for such Paying Agent to forward shall include with each distribution to each Certificateholder of record as of the most recent related Record Date) , a statement, prepared by the Servicer, based on the information in the Distribution Date Statement furnished pursuant to Section 3.09, setting forth for such Distribution Date the following statements: (a) a statement substantially in information as of the form of Exhibit Brelated Record Date or such Distribution Date, setting forth, to as the extent applicablecase may be: (i) the amount, if any, amount of the distributions such distribution allocable to the holders of principal (stated separately for each Class of Bonds on such Distribution Date applied to reduce Notes and the Certificates), separately identifying the aggregate Bond Class Balance thereofamount included therein of any (i) Full Prepayments of principal on Precomputed Contracts and (ii) Full Prepayments and partial prepayments of principal on Simple Interest Contracts; (ii) the amount of the distributions such distribution allocable to holders of interest (stated separately for each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls Notes and (C) Prepayment Premiumsthe Certificates); (iii) the outstanding Funding Note Balance Percentage and the Certificate Percentage as of the related Determination Dateclose of business on the last day of such Collection Period; (iv) the number Certificate Distributable Amount and Aggregate Stated Principal Balance of outstanding Mortgage Loans in the Mortgage PoolNote Distributable Amount for such Distribution Date; (v) the number and aggregate Stated Principal Balance of Mortgage Loans in Premium payable to the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedInsurer; (vi) with the amount to be on deposit in the Spread Account on such Distribution Date, before and after giving effect to deposits thereto and withdrawals therefrom to be made in respect to any REO Property acquired during the related Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO Propertysuch Distribution Date; (vii) the amount of the withdrawal, if any, required to be made from the Spread Account by the Indenture Trustee, specifying as to whether such amount is to be (A) deposited into the most recent appraised value of any REO Property as of the related Determination DatePayment Account, (B) as paid to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale Insurer or (C) deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited Certificate Distribution Account for distribution to the Collection Account, in each case identifying such REO Property by the loan number holders of the related Mortgage LoanResidual Interests pursuant to Section 4.04(b); (viii) the aggregate Bond Class Balance Servicing Fee with respect to the Contracts for the related Collection Period; (ix) the amount of fees paid to the Owner Trustee, the Trust Agent and the Indenture Trustee, with respect to the related Collection Period; (x) the amount of any Note Interest Carryover Shortfall, Note Principal Carryover Shortfall, Certificate Interest Carryover Shortfall and Certificate Principal Carryover Shortfall on such Distribution Date and the change in such amounts from those with respect to the immediately preceding Distribution Date; (xi) the number of, and aggregate amount of, monthly principal and interest payments due on the Contracts which are delinquent as of the end of the related Collection Period presented on a 30-day, 60-day and 90-day basis; (xii) the Net Collections and the Policy Claim Amount, if any, for such Distribution Date; (xiii) the aggregate amount of Liquidation Proceeds received for Defaulted Contracts; (xiv) the net credit losses and Cram Down Losses for the Collection Period; (xv) the number and net outstanding balance of Contracts for which the Financed Vehicle has been repossessed; (xvi) the Pool Balance, the Note Pool Factor for each Class of Bonds before Notes and the Certificate Pool Factor as of such Distribution Date after giving effect to the distributions distribution made on such Distribution Date; (ixxvii) the aggregate amount of Principal Prepayments made on each Distribution Date occurring during the related Prepayment Period; (x) the aggregate amount of servicing compensation retained by or paid to the Servicer and the Special Servicer; (xi) the amount of Realized Losses, if any, incurred with respect to the Mortgage Loans during the related Collection Period; (xii) the aggregate amount of Servicing Advances and P&I Advances outstanding as of immediately following the end of the prior calendar month that have been made by the ServicerFunding Period, the Special Servicer, amount on deposit in each of the Indenture Trustee Prefunding Account and the Fiscal AgentCapitalized Interest Account on such Distribution Date, separately stated; (xiii) the Overcollateralization Level at the close before and after giving effect to withdrawals therefrom to be made in respect of business on such Distribution Date; (xivxviii) on each Distribution Date occurring during and immediately following the amountend of the Funding Period, if any, withdrawn the amounts of investment earnings and other amounts transferred from the Collection Prefunding Account and paid the amounts transferred from the Capitalized Interest Account to the Fiscal AgentPayment Account; and (xix) on the Distribution Date immediately following the end of the Funding Period, the Mandatory Partial Redemption Amount. Each amount set forth pursuant to subclauses (i) or (ii) above shall be expressed as a dollar amount per $1,000.00 of original principal amount of a Note or original Certificate Balance, as the case may be. (b) Within a reasonable period of time after the end of each calendar year, but not later than the latest date permitted by law, the Servicer shall prepare and furnish to the Issuer, the Indenture TrusteeTrustee and each Paying Agent, and the Servicer Paying Agent for the Notes and the Paying Agent for the Certificates shall furnish to each Person who on any Record Date during such calendar year shall have been a Holder of a Note or a Certificate, respectively, a statement or statements containing the Special Servicer sum of the amounts set forth in clauses (i) and (ii) above for such calendar year and such other information as reimbursement is reasonably necessary for Nonrecoverable Advances; (xv) with respect to any Mortgage Loan that is delinquent the preparation of such Person's federal income tax return in respect of three the Notes or more Monthly PaymentsCertificates or, (A) in the loan number thereofevent such Person shall have been a Holder of a Note or a Certificate during a portion of such calendar year, (B) for the unpaid balance thereofapplicable portion of such year, (C) whether for the delinquency is in respect purposes of any Balloon Payment, (D) the aggregate amount such Noteholder's or Certificateholder's preparation of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances and Servicingfederal income tax returns.

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Servicer shall provide forward the Servicing Certificate and a computer file containing mutually agreed upon loan level information to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), and the Indenture Trustee Trustee, pursuant to Section 3.26 of the Indenture, shall forward make such Servicing Certificate available to each Bondholder of record Certificateholder, each Noteholder, the Credit Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent, the ISDA Counterparty and each Rating Agency. The Servicing Certificate shall set forth the following information as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amountfor each Loan Group, if any, of the distributions to the holders of each Class of Bonds on such Distribution Date applied to reduce the aggregate Bond Class Balance thereofamount of (a) Interest Collections, (b) Principal Collections, and (c) Substitution Adjustment Amounts for such Collection Period; (ii) the amount of such distribution as principal to the distributions to holders Noteholders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsNotes; (iii) the outstanding Funding Note Balance amount of such distribution as interest to the Noteholders of the related Determination Dateeach Class of Notes; (iv) the number Policy Draw Amount, if any, for such Payment Date and Aggregate Stated Principal Balance the aggregate amount of outstanding Mortgage Loans in prior draws on the Mortgage PoolPolicy thereunder not yet reimbursed; (v) the number and aggregate Stated Principal Balance amount of Mortgage Loans in such distribution to the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedCertificateholders; (vi) with respect to any REO Property acquired during the related Collection Period, the Stated aggregate Principal Balance of the related Mortgage Home Loans in each Loan Group as of the date of acquisition end of the REO Propertypreceding Collection Period; (vii) the number and aggregate Principal Balances of Home Loans (A) the most recent appraised value of any REO Property as of the related Determination Date, (Ba) as to any REO Property sold during which the Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days and 150-179 days, respectively, (b) the related Collection Period, the date Mortgaged Property of which has been foreclosed upon and (c) as to which the related determination by the Special Servicer that it Mortgaged Property has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each become REO Property during the related Collection Period and credited to the Collection AccountProperty, in each case identifying such REO Property by the loan number as of the related Mortgage Loanend of the preceding Collection Period; provided, however, that such information shall not be provided on the statements relating to the first Payment Date; (viii) the aggregate Bond Class Balance of each Class of Bonds before and after giving effect Liquidation Loss Amounts with respect to the distributions made on such Distribution Daterelated Collection Period, the amount distributed as principal to Noteholders in respect of Liquidation Loss Amounts and the aggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as dollar amount and as a percentage of the aggregate Cut-Off Date Principal Balances of the Home Loans; (ix) the aggregate amount Note Balance of Principal Prepayments made during each Class of Notes and the related Prepayment PeriodCertificate Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (x) the aggregate amount on deposit in each of servicing compensation retained by or paid to the Servicer Pre-Funding Account and Capitalized Interest Account as of the Special Servicerend of the preceding Collection Period; (xi) the Percentage Interest applicable to each of the Securities, after application of payments made on such Payment Date; (xii) the Overcollateralization Amount as of the end of the preceding Collection Period; (xiii) the amount of Realized Losses, if any, incurred any payment to be made to the designee or designees of the Credit Enhancer with respect to such Payment Date pursuant to Sections 3.05(a)(i) and 3.30 of the Mortgage Indenture and the Limited Reimbursement Agreement; (xiv) the weighted average of the Net Loan Rates for the Home Loans during for the related Collection Period; (xiixv) the number and aggregate Principal Balance of Home Loans repurchased pursuant to Section 3.15(a) herein during the related Collection Period; and (xvi) the aggregate amount Principal Balance of Servicing Advances Subsequent Home Loans transferred to the Trust Estate for each Loan Group. In the case of information furnished pursuant to clauses (ii) and P&I Advances outstanding as of the end of the prior calendar month that have been made by the Servicer(iii) above, the Special Serviceramounts shall be expressed as an aggregate dollar amount per Note or Certificate, as applicable, with a $25,000 denomination. If a Servicing Default shall occur, on the Business Day following the related Determination Date, the Indenture Trustee and the Fiscal Agent, separately stated; (xiii) the Overcollateralization Level at the close of business on such Distribution Date; (xiv) the amount, if any, withdrawn from the Collection Account and paid Servicer shall forward to the Fiscal Agent, the Indenture Trustee, and the Servicer Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall forward or cause to be forwarded by mail to each Certificateholder, each Noteholder, the Special Servicer as reimbursement for Nonrecoverable Advances; Credit Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement to such effect, including the nature of such Servicing Default. Such statement may be included in, or separate from, the regular statement sent to Securityholders. The Indenture Trustee will make the monthly statement to Securityholders (xvand, at its option, any additional files containing the same information in an alternative format) with respect available each month to any Mortgage Loan that is delinquent in respect of three or more Monthly PaymentsSecurityholders, (A) and other parties to this Agreement via the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unreIndenture Trustee's internet website. The Indenture Trustee's internet website shall initially be located at "www.abs.bankone.com". Assistance ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇e can be obtained by calling Indenture Trustee's customer service desk at 800-524-9472. Parties that are u▇▇▇▇▇ ▇&▇ Advances ▇▇▇ the above website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and Servicingindicating such. The Indenture Trustee shall have the right to change the way the statements to Securityholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. (b) In addition, with respect to each Payment Date, on the Business Day following the related Determination Date, the Servicer shall forward to the Credit Enhancer and the Rating Agencies the following information for each Capitalization Workout entered into during the related Collection Period: (i) the original Home Equity Loan amount; (ii) the Home Loan amount after the Capitalization Workout; (iii) the original Monthly Payment amount; (iv) the Monthly Payment amount after the Capitalization Workout; (v) the Capitalized Amount as defined in Section 3.02(a)(v) herein; (vi) the CLTV prior to the Capitalization Workout; (vii) the CLTV after the Capitalization Workout; and (viii) if an appraisal was used in determining the CLTV referred to in (vii) above, the type and date of appraisal. (c) The Servicer shall forward to the Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on the Business Day next succeeding each Determination Date, the Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and deposited into the Note Payment Account and/or Distribution Account on the Business Day preceding the related Payment Date pursuant to Section 3.03. The determination by the Servicer of such amounts shall, in the absence of obvious error, be deemed to be presumptively correct for all purposes hereunder, and the Owner Trustee and the Indenture Trustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer's written request, the Servicer shall promptly furnish such information reasonably requested by the Issuer that is reasonably available to the Servicer to enable the Issuer to perform its federal and state income tax reporting obligations.

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Servicer shall provide forward the Servicing Certificate to the Indenture Trustee, in electronic form (and the Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall make such Servicing Certificate available to each Certificateholder, each Noteholder, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, with a copy to the Rating Agencies and each Paying Agent), and Enhancer. The Servicing Certificate shall set forth the Indenture Trustee shall forward to each Bondholder of record following information as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amountaggregate amount of (a) Interest Collections, if any(b) Principal Collections (and, of the distributions with respect to any Payment Date relating to the holders of each Class of Bonds on Managed Amortization Period, Net Principal Collections) and (c) Substitution Adjustment Amounts for such Distribution Date applied to reduce the aggregate Bond Class Balance thereofCollection Period; (ii) the amount of such distribution as principal to the distributions to holders Noteholders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsNotes; (iii) the outstanding Funding Note Balance amount of such distribution as interest to the Noteholders of each Class of Notes, the amount thereof, if any, payable in respect of unpaid Interest Shortfalls, and the amount of any Interest Shortfalls for the related Determination Payment Date; (iv) each Policy Draw Amount, if any, for such Payment Date and the number and Aggregate Stated Principal Balance aggregate amount of outstanding Mortgage Loans in prior draws on the Mortgage PoolPolicy thereunder not yet reimbursed; (v) the number and aggregate Stated Principal Balance amount of Mortgage Loans in such distribution to the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedCertificateholders; (vi) with respect the amount of any Additional Balance Increase Amount payable to any REO Property acquired during the related Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO PropertyCertificateholders; (vii) (A) the most recent appraised value aggregate Principal Balance of any REO Property the Mortgage Loans as of the related Determination Date, (B) as to any REO Property sold during end of the related preceding Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage Loan; (viii) the number and aggregate Bond Class Balance Principal Balances of Mortgage Loans (a) as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days and 150-179 days, respectively, (b) the related Mortgaged Property of which has been foreclosed upon and (c) as to which the related Mortgaged Property has become REO Property, in each Class case as of Bonds before and after giving effect the end of the preceding Collection Period; provided, however, that such information shall not be provided on the statements relating to the distributions made on such Distribution first Payment Date; (ix) the number and aggregate amount Principal Balance of Principal Prepayments made Mortgage Loans repurchased pursuant to Section 3.15(a) herein during the related Prepayment such Collection Period; (x) the aggregate amount of servicing compensation retained by or paid to Net WAC Rate for the Servicer and the Special Servicerrelated Collection Period; (xi) prior to the second Determination Date following the commencement of the Rapid Amortization Period, the aggregate amount of Realized Losses, if any, incurred with respect Additional Balances created during the previous Collection Period and conveyed to the Mortgage Loans during Issuer prior to the related Collection commencement of such Rapid Amortization Period; (xii) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount distributed as principal to Noteholders in respect of Servicing Advances Liquidation Loss Amounts and P&I Advances outstanding as the aggregate of the end Liquidation Loss Amounts (minus any Subsequent Net Recovery Amounts) from all Collection Periods to date expressed as dollar amount and as a percentage of the prior calendar month that have been made by aggregate Cut-Off Date Principal Balances of the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately statedMortgage Loans; (xiii) the Overcollateralization Level at aggregate Note Balance of each Class of Notes and the close Certificate Balance of business each Class of the Certificates after giving effect to the distribution of principal on such Distribution Payment Date; (xiv) the amountbalance of the Pre-Funding Account, if anyFunding Account, withdrawn from the Collection Reserve Sub-Account and paid to Capitalized Interest Account as of the Fiscal Agent, end of the Indenture Trustee, the Servicer or the Special Servicer as reimbursement for Nonrecoverable Advancespreceding Collection Period; (xv) with respect the Percentage Interest applicable to any Mortgage Loan that is delinquent in respect each of three or more Monthly Paymentsthe Securities, after application of payments made on such Payment Date; (Axvi) the loan number thereof, Overcollateralization Amount as of the end of the preceding Collection Period; and (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (Dxvii) the aggregate Principal Balance of Subsequent Mortgage Loans transferred to the Trust Estate. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Note or Certificate, as applicable, with a $25,000 denomination and per Certificate with a denomination equal to a 100% Percentage Interest. If a Rapid Amortization Event or a Servicing Default shall occur, on the Business Day following the related Determination Date, the Servicer shall forward to the Indenture Trustee, a statement to such effect, including the nature of unresuch Rapid Amortization Event or Servicing Default. Upon the Servicer's becoming aware of any Early Amortization Event, the Servicer shall forward to the Indenture Trustee and the Enhancer, a statement to such effect, including the nature of such Early Amortization Event. The Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall deliver or cause to be delivered by mail to each Certificateholder, each Noteholder, the Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, notice of such Rapid Amortization Event, Early Amortization Event or Servicing Default, including, the nature thereof. Such statement may be included in, or separate from, the regular statement sent to Securityholders. The Indenture Trustee will make the Servicing Certificate (and, at its option, any additional files containing the same information in an alternative format) available each month to Securityholders, and other parties to this Agreement via the Indenture Trustee's internet website. The Indenture Trustee's internet website shall initially be located at "www.ctslink.com". Assistance in usi▇▇ ▇▇▇ ▇▇▇▇▇▇▇ can be obtained by calling the Indenture Trustee's customer service desk at (301) 815-6600. Parties that are ▇&▇▇▇▇▇ Advances ▇▇ ▇▇e the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and Servicingindicating such. The Indenture Trustee shall have the right to change the way the statements to Securityholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Indenture Trustee may require registration and the acceptance of a disclaimer in connection with access to its website. (b) The Servicer shall forward to the Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on the Business Day next succeeding each Determination Date, the Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and the Reserve Sub-Account and deposited into the Note Payment Account, Reserve Sub-Account, Funding Account and/or Distribution Account on the Business Day preceding the related Payment Date pursuant to Section 3.03. The determination by the Servicer of such amounts shall, in the absence of obvious error, be deemed to be presumptively correct for all purposes hereunder, and the Owner Trustee and the Indenture Trustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer's written request, the Servicer shall promptly furnish such information reasonably requested by the Issuer that is reasonably available to the Servicer to enable the Issuer to perform its federal and state income tax reporting obligations. (c) If the Note Balance of the Variable Pay Revolving Notes is to be reduced on any Payment Date pursuant to the terms of the Indenture, the Servicer shall, not later than 12:00 Noon (New York time) on the second Business Day prior to such Payment Date, deliver a written notice to the Administrative Agent specifying the amount of such reduction.

Statements to Securityholders. Not later than 10:00 A.M. on On each Determination Distribution Date, the Servicer shall provide to the Indenture Trustee, in electronic form Trustee (with a copy to the Rating Agencies and each Paying Agent), and ) for the Indenture Trustee shall to forward to each Bondholder Noteholder of record as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under Agent) for the Trust Agreement for such Paying Agent Owner Trustee to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) Date a statement substantially in the form of Exhibit B, respectively, setting forth, forth at least the following information as to the Securities to the extent applicable: (i) the amount, if any, amount of the distributions such distribution allocable to the holders of principal allocable to each Class of Bonds on such Distribution Date applied Notes and to reduce the aggregate Bond Class Balance thereofCertificates; (ii) the amount of the distributions such distribution allocable to holders of interest allocable to each Class of Bonds on such Distribution Date allocable Notes and to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment Premiumsthe Certificates; (iii) the outstanding Funding Outstanding Amount of each Class of Notes, the Note Pool Factor for each such Class, the Certificate Balance and the Certificate Pool Factor as of the related Determination Dateclose of business on the last day of the preceding Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (iv) the number amount of the Servicing Fee paid to the Servicer and Aggregate Stated Principal Balance the amount of outstanding Mortgage Loans in any fees payable to the Mortgage PoolOwner Trustee or the Indenture Trustee with respect to the related Collection Period; (v) the number and aggregate Stated Principal Balance of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commenced; (vi) with respect to any REO Property acquired during the related Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO Property; (vii) (A) the most recent appraised value of any REO Property as of the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage Loan; (viii) the aggregate Bond Class Balance of each Class of Bonds before and after giving effect to the distributions made on such Distribution Date; (ix) the aggregate amount of Principal Prepayments made during the related Prepayment Period; (x) the aggregate amount of servicing compensation retained by or paid to the Servicer and the Special Servicer; (xi) the amount amounts of Realized Losses, if any, incurred and Cram Down Losses, if any, separately identified, with respect to the Mortgage Loans related Collection Period; (vi) the amount, if any, of the distribution payable pursuant to claims under the Policies; (vii) the balance of the Spread Account on such Payment Determination Date after giving effect to deposits and withdrawals to be made on the next following Distribution Date, if any; (viii) the Pool Balance as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above. (ix) the amount of any Class A-2 Additional Principal Distribution Amount distributable to Class A-2 Noteholders on such date; (x) the amount of any deposit to the Spread Account and the amount and application of any funds withdrawn from the Spread Account; (xi) the aggregate principal balance of all Receivables that became Liquidated Receivables or Purchased Receivables during the related Collection Period; (xii) the aggregate amount principal balance of Servicing Advances and P&I Advances outstanding as of the end of the prior calendar month Receivables that have been made by the Servicerare 30 to 59 days, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately stated60 to 89 days or 90 days or more delinquent; (xiii) the Overcollateralization Level at Class A-1 Interest Carryover Shortfall, the close of business Class A-1 Principal Carryover Shortfall, the Class A-2 Interest Carryover Shortfall, the Class A-2 Principal Carryover Shortfall, the Certificateholders' Interest Carryover Shortfall and the Certificateholders' Principal Carryover Shortfall, if any, in each case after giving effect to payments on such Distribution Date, and any change in such amounts from the preceding statement; (xiv) the amountaggregate Purchase Amounts for Receivables, if any, withdrawn from the that were purchased during or with respect to such Collection Account and paid to the Fiscal Agent, the Indenture Trustee, the Servicer or the Special Servicer as reimbursement for Nonrecoverable AdvancesPeriod; (xv) with respect for each such date during the Funding Period, the remaining amount in the Pre-Funding Account and the amount remaining in the Capitalized Interest Account; and (xvi) the remaining Pre-Funded Amount following the end of the Funding Period that has not been used to any Mortgage Loan that fund the purchase of Subsequent Receivables and is delinquent in respect being passed through as payments of three principal on one or more Monthly Paymentsboth Classes of Notes and/or the Certificates. Each amount set forth on the Distribution Date statement under clauses (i), (Aii) the loan number thereofor (iv) above shall be expressed as a dollar amount per $1,000 of original principal balance of a Certificate or Note, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances and Servicingas applicable.

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Servicer shall provide forward the Servicing Certificate to the Indenture Trustee, in electronic form (and the Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall make such Servicing Certificate available to each Certificateholder, each Noteholder, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, with a copy to the Rating Agencies and each Paying Agent), and Enhancer. The Servicing Certificate shall set forth the Indenture Trustee shall forward to each Bondholder of record following information as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amountaggregate amount of (a) Interest Collections, if any(b) Principal Collections (and, of the distributions with respect to any Payment Date relating to the holders of each Class of Bonds on Managed Amortization Period, Net Principal Collections) and (c) Substitution Adjustment Amounts for such Distribution Date applied to reduce the aggregate Bond Class Balance thereofCollection Period; (ii) the amount of such distribution as principal to the distributions to holders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsNoteholders; (iii) the outstanding Funding Note Balance amount of such distribution as interest to the Noteholders, the amount thereof, if any, payable in respect of unpaid Interest Shortfalls, and the amount of any Interest Shortfalls for the related Determination Payment Date; (iv) each Deficiency Amount, if any, for such Payment Date and the number and Aggregate Stated Principal Balance aggregate amount of outstanding Mortgage Loans in prior draws on the Mortgage PoolPolicy thereunder not yet reimbursed; (v) the number and aggregate Stated Principal Balance amount of Mortgage Loans in such distribution to the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedCertificateholders; (vi) with the amount of any Additional Balance Increase Amount payable to the Certificateholders and the amount of Principal Collections paid in respect to any REO Property acquired during the related Collection Period, the Stated Principal of such Additional Balance of the related Mortgage Loan as of the date of acquisition of the REO PropertyIncrease Amount; (vii) (A) the most recent appraised value aggregate Principal Balance of any REO Property the Mortgage Loans as of the related Determination Date, (B) as to any REO Property sold during end of the related preceding Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage Loan; (viii) the number and aggregate Bond Class Balance Principal Balances of Mortgage Loans (a) as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days and 150-179 days, respectively, (b) the related Mortgaged Property of which has been foreclosed upon and (c) as to which the related Mortgaged Property has become REO Property, in each Class case as of Bonds before and after giving effect the end of the preceding Collection Period; provided, however, that such information shall not be provided on the statements relating to the distributions made on such Distribution first Payment Date; (ix) the number and aggregate amount Principal Balance of Principal Prepayments made Mortgage Loans repurchased pursuant to Section 3.15(a) herein during the related Prepayment such Collection Period; (x) the aggregate amount of servicing compensation retained by or paid to Net WAC Rate for the Servicer and the Special Servicerrelated Collection Period; (xi) prior to the second Determination Date following the commencement of the Rapid Amortization Period, the aggregate amount of Realized Losses, if any, incurred with respect Additional Balances created during the previous Collection Period and conveyed to the Mortgage Loans during Issuer prior to the related Collection commencement of such Rapid Amortization Period; (xii) the aggregate amount of Servicing Advances and P&I Advances outstanding as Liquidation Loss Amounts (other than amounts allocated in respect of the end Excluded Amount) with respect to the related Collection Period, the amount distributed as principal to Noteholders in respect of Liquidation Loss Amounts and the aggregate of the prior calendar month that have been made by Liquidation Loss Amounts (minus any Subsequent Net Recovery Amounts and other than amounts allocated in respect of the Servicer, Excluded Amount) from all Collection Periods to date expressed as dollar amount and as a percentage of the Special Servicer, aggregate Cut-Off Date Principal Balances of the Indenture Trustee and the Fiscal Agent, separately statedMortgage Loans; (xiii) the Overcollateralization Level at Note Balance and the close Certificate Balance of business the Certificates after giving effect to the distribution of principal on such Distribution Payment Date; (xiv) the amountbalance of the Pre-Funding Account, if any, withdrawn from the Collection Funding Account and paid to Capitalized Interest Account as of the Fiscal Agent, end of the Indenture Trustee, the Servicer or the Special Servicer as reimbursement for Nonrecoverable Advancespreceding Collection Period; (xv) with respect the Percentage Interest applicable to any Mortgage Loan that is delinquent in respect each of three or more Monthly Paymentsthe Securities, after application of payments made on such Payment Date; (Axvi) the loan number thereof, Overcollateralization Amount as of the end of the preceding Collection Period; and (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (Dxvii) the aggregate Principal Balance of Subsequent Mortgage Loans transferred to the Trust Estate. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Note or Certificate, as applicable, with a $25,000 denomination and per Certificate with a denomination equal to a 100% Percentage Interest. If a Managed Amortization Event, a Rapid Amortization Event or a Servicing Default shall occur, on the Business Day following the related Determination Date, the Servicer shall forward to the Indenture Trustee, a statement to such effect, including the nature of unresuch Rapid Amortization Event or Servicing Default. The Indenture Trustee shall deliver or cause to be delivered by mail to each Certificateholder, each Noteholder, the Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, notice of such Managed Amortization Event, Rapid Amortization Event or Servicing Default, including, in the case of a Rapid Amortization Event or a Servicing Default, the nature thereof. Such statement may be included in, or separate from, the regular statement sent to Securityholders. The Indenture Trustee shall make the Servicing Certificate (and, at its option, any additional files containing the same information in an alternative format) available each month to Securityholders, and other parties to this Agreement via mail, courier, email, facsimile copy, the Indenture Trustee's internet website or other electronic means. The Indenture Trustee's internet website shall initially be located at "▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇▇ ▇&▇ Advances .▇▇▇/absmbs". Assistance in using the website can be obtained by calling the Indenture Trustee's customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and Servicingindicating such. The Indenture Trustee shall have the right to change the way the statements to Securityholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Indenture Trustee may require registration and the acceptance of a disclaimer in connection with access to its website (b) The Servicer shall forward to the Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on the Business Day next succeeding each Determination Date, the Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and deposited into the Note Payment Account, Funding Account and/or Distribution Account on the Business Day preceding the related Payment Date pursuant to Section 3.04. The determination by the Servicer of such amounts shall, in the absence of obvious error, be deemed to be presumptively correct for all purposes hereunder, and the Owner Trustee and the Indenture Trustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer's written request, the Servicer shall promptly furnish such information reasonably requested by the Issuer that is reasonably available to the Servicer to enable the Issuer to perform its federal and state income tax reporting obligations.

Statements to Securityholders. Not later than 10:00 A.M. on On each Determination Date, Distribution Date the Servicer shall provide to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), and the Indenture Trustee shall forward or cause to be forwarded by mail to each Bondholder Holder of record as of the most recent Record Date a Security and to the Owner Trustee (with Seller, the Loan Seller and the Master Servicer a copy statement as to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: distribution setting forth: (a) a statement substantially in the form amount of Exhibit B, setting forth, such distribution to the extent applicable: (i) the amount, if any, of the distributions to the holders Securityholders of each Class of Bonds on such Distribution Date applied to reduce the aggregate Bond Class Security Principal Balance thereof, (b) the aggregate amount included therein representing Principal Prepayments, (c) the Class FXA Prepayment Percentage with respect to the Class FXA Securities, the Class A Prepayment Percentage with respect to the Class A Securities, the Class FXA-2 Prepayment Percentage with respect to the Class FXA-2 Securities, the Class A-4 Prepayment Percentage with respect to the Class A-4 Securities and the Class B Percentage applicable to such distribution and (d) the aggregate of the Stated Principal Balances of any Mortgage Loans repurchased during the related Prepayment Period (on aggregate basis and on a Loan Group by Loan Group basis); (ii) the amount of such distribution to the distributions to holders Securityholders of each such Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment Premiums; (iii) the outstanding Funding Note Balance as amount of related servicing compensation and the amount of servicing compensation attributable to penalties and fees received by or on behalf of the related Determination DateMaster Servicer and any Sub-Servicers with respect to such Distribution Date and such other customary information as the Master Servicer deems necessary or desirable and supplies to the Trustee, or which a Securityholder reasonably requests, to enable Securityholders to prepare their tax returns; (iv) the number and Aggregate Stated Principal Balance amount of outstanding Mortgage Loans Advances (other than Servicing Advance), presented in the Mortgage Poolaggregate and the amount of principal and the amount of interest Advances included in such distribution on such Distribution Date; (v) the number and aggregate Stated Principal Balance of the Mortgage Loans in at the close of business on such Distribution Date (on an aggregate basis and on a Loan Group-by-Loan Group basis); (vi) the Security Principal Balance of a Single Security of such Class, the aggregate Security Principal Balance of the Class FXA-1 Securities, Class FXA-2 Securities, Class FXA-3 Securities, Class FXA-4 Securities, Class FXA-5 Securities, Class FXA-6 Securities, Class FXA-7 Securities, Class FXA-8 Securities, Class A-1 Securities, Class A-2 Securities, Class A-3 Securities, Class A-4 Securities, Class FXP Securities, Class P Securities, Class B-1 Securities, Class B-2 Securities, Class B-3 Securities, Class B-4 Securities, Class B-5 Securities and Class B-6 Securities, respectively, the Notional Amounts for the Class FXS Securities, the Class S Securities and the Class FXA-9 Securities, the Class FXA Percentage, the Class A Percentage, the Class B-1 Percentage, the Class B-2 Percentage, the Class B-3 Percentage, the Class B-4 Percentage, Class B-5 Percentage and the Class B-6 Percentage after giving effect to the amounts distributed on such Distribution Date separately identifying any reduction thereof due to Realized Losses other than pursuant to an actual distribution of principal (on an aggregate basis and on a Loan Group-by-Loan Group basis); (vii) the number and aggregate Stated Principal Balance of Mortgage Pool Loans (Aa) delinquent one month31 to 60 days, (Bb) delinquent two months, 61 to 90 days and (Cc) delinquent three 91 days or more months or (Don an aggregate basis and on a Loan Group-by-Loan Group basis) as of the close of business on the Determination Date to which such distribution relates; (viii) the number and aggregate Stated Principal Balance of Mortgage Loans as to which foreclosure proceedings have been commencedcommenced in each case as of the related Determination Date and which are (a) delinquent 31 to 60 days, (b) delinquent 61 to 90 days and (c) delinquent 91 days or more (on an aggregate basis and on a Loan Group-byLoan Group basis) as of the close of business on the Determination Date to which such distribution relates; (viix) the number and aggregate Stated Principal Balance of Mortgage Loans as to which bankruptcy proceedings have been commenced in each case as of the related Determination Date and which are (a) delinquent 31 to 60 days, (b) delinquent 61 to 90 days and (c) delinquent 91 days or more (on an aggregate basis and on a Loan Group-byLoan Group basis) as of the close of business on the Determination Date to which such distribution relates; (x) with respect to any Mortgage Loan that became a REO Property acquired during the related Collection Periodpreceding calendar month, the loan number and Stated Principal Balance of the related such Mortgage Loan as of the close of business on the Distribution Date in such month and the date of acquisition of the REO Propertythereof; (vii) (Axi) the most recent appraised book value of any REO Property as of the related Determination Date, (B) as to any REO Property sold during close of business on the related Collection Period, the date last Business Day of the related determination by calendar month preceding the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage Loan; (viii) the aggregate Bond Class Balance of each Class of Bonds before and after giving effect to the distributions made on such Distribution Date; (ix) the aggregate amount of Principal Prepayments made during the related Prepayment Period; (x) the aggregate amount of servicing compensation retained by or paid to the Servicer and the Special Servicer; (xi) the amount of Realized Losses, if any, incurred with respect to the Mortgage Loans during the related Collection Period; (xii) the aggregate amount of Servicing Advances and P&I Advances outstanding as of Pass-Through Rate in effect for the end of the prior preceding calendar month that have been made by with respect to each Class of Securities (other than the Servicer, the Special Servicer, the Indenture Trustee Principal Only Securities and the Fiscal Agent, separately statedResidual Securities); (xiii) the Overcollateralization Level at remaining aggregate Security Principal Balance of each Class of Securities, after giving effect to the close of business distribution made on such Distribution Date; (xiv) the amountSpecial Hazard Amount, if any, withdrawn from the Collection Account Fraud Loss Amount and paid to the Fiscal Agent, the Indenture Trustee, the Servicer or the Special Servicer as reimbursement for Nonrecoverable AdvancesBankruptcy Amount remaining available immediately after such Distribution Date; (xv) the aggregate Realized Losses incurred since the Cut-off Date (on an aggregate basis and on a Loan Group-by-Loan Group basis); and (xvi) the amount of any Excess Proceeds distributed to each Class of Securities and the remaining balance of the Excess Proceeds Account, if any, on such Distribution Date, after giving effect to distributions made on such date. In the case of information furnished pursuant to subclauses (i)-(iii) above, the amounts shall also be expressed as a dollar amount per Single Security. Within a reasonable period of time after the end of each calendar year, the Trustee shall prepare and forward, to each Person who at any time during the calendar year was a Holder of a Security (other than the Class R or Class RP Securities) a statement containing the information set forth in subclauses (i)-(iii) above, aggregated for such calendar year or applicable portion thereof during which such person was a Securityholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code and regulations thereunder as from time to time are in force. On each Distribution Date the Trustee shall prepare and forward, to each Holder of a Class R or Class RP Security a copy of the reports forwarded to each of the Securityholders (other than the Class R or Class RP Securityholders) on such Distribution Date and a statement setting forth the amounts actually distributed with respect to the Class R or Class RP Securities on such Distribution Date. Within a reasonable period of time after the end of each calendar year, the Trustee shall prepare and forward, to each Person who at any Mortgage Loan time during the calendar year was a Holder of a Class R or Class RP Security a statement containing the information provided pursuant to the previous paragraph aggregated for such calendar year or applicable portion thereof during which such Person was a Class R or Class RP Securityholder. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that is delinquent substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time are in respect of three or more Monthly Payments, (A) the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances and Servicingforce.

Statements to Securityholders. Not later than 10:00 A.M. e) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Servicer shall provide forward to the Indenture Trustee, in electronic form (with a copy Trustee the Loan information reasonably available to the Rating Agencies and each Paying Agent), and Servicer with respect to the Loans as the Indenture Trustee may reasonably request in order for the Indenture Trustee to perform the calculations necessary to prepare the statements contemplated by this Section 4.01 (the “Servicing Certificate”). The Indenture Trustee pursuant to Section 3.23 of the Indenture shall forward or cause to be forwarded by mail to each Bondholder of record Certificateholder, Noteholder, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement setting forth the following information as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amountaggregate amount of (a) Interest Remittance Amount, if any, of the distributions to the holders of each Class of Bonds on such Distribution Date applied to reduce the aggregate Bond Class Balance thereof(b) Principal Remittance Amount and (c) Substitution Amounts; (ii) the amount of such distribution as principal to the distributions to holders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsNoteholders; (iii) the outstanding Funding Note Balance amount of such distribution as interest to the Noteholders, separately stating the portion thereof in respect of the related Determination Dateoverdue accrued interest; (iv) the number and Aggregate Stated Principal Loan Balance of outstanding Mortgage the Loans in as of the Mortgage Poolend of the related Collection Period; (v) the number and aggregate Stated Principal Balance Balances of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (Da) as to which foreclosure proceedings (i) one Monthly Payment is Delinquent, (ii) two Monthly Payments are Delinquent or (iii) three or more Monthly Payments are Delinquent, (b) that are foreclosed, (c) that have become REO, and (d) that have been commencedfinally liquidated due to being 180 days or more delinquent, in each case as of the end of the related Collection Period; provided, however, that such information will not be provided on the statements relating to the first Payment Date; (vi) with respect the number, average balance, weighted average remaining term to any REO Property acquired during maturity and weighted average Loan Rate of the related Collection Period, the Stated Principal Balance Mortgage Loans as of the related Mortgage Loan as of the date of acquisition of the REO PropertyDue Date; (vii) (A) the most recent appraised value of any REO Property as of the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited Class Principal Balance after giving effect to the Collection Account, in each case identifying distribution of principal on such REO Property by the loan number of the related Mortgage LoanPayment Date; (viii) the aggregate Bond Class Balance of each Class of Bonds before and after giving effect to the distributions made on Certificate Distribution Amount immediately following such Distribution Payment Date; (ix) the aggregate amount of Principal Prepayments made during Servicing Fees for the related Prepayment Collection Period; (x) the aggregate amount of servicing compensation retained by or paid to the Servicer Overcollateralization Amount and the Special ServicerTargeted Overcollateralization Amount immediately following such Payment Date; (xi) the number and principal amount of Realized Losses, if any, incurred with respect Capitalization Workouts pursuant to Section 3.02(a)(v) entered into since the Mortgage Loans during the related Collection PeriodClosing Date; (xii) the aggregate amount recovered during the related Collection Period consisting of Servicing Advances and P&I Advances outstanding as of the end of the prior calendar month all subsequent recoveries on any Loan that have been made by the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately statedwas 180 days or more delinquent; (xiii) the Overcollateralization Level at related Basis Risk Shortfall for the close of business Class A, Class M-1 and Class B-1 Notes and the Available Funds Shortfall for the Class B-2 Notes on such Distribution each Payment Date; (xiv) the amountapplicable record dates, if any, withdrawn from the Collection Account accrual periods and paid to the Fiscal Agent, the Indenture Trustee, the Servicer or the Special Servicer as reimbursement determination dates for Nonrecoverable Advancesdetermining distributions and general Payment Dates; (xv) with respect to any Mortgage Loan that is delinquent in respect of three or more Monthly Payments, the total cash flows received and the general sources thereof; (Axvi) the loan number thereof, Note Rate for each Class of Notes; (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (Dxvii) the aggregate amount of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances for the related Due Period (including the general purpose of such Advances), the aggregate amount of unreimbursed Advances at the close of business on the Payment Date, and Servicingthe general source of funds for reimbursements; (xviii) the aggregate amount of Realized Losses incurred during the related Due Period and the cumulative amount of Realized Losses; (xix) if applicable, material modifications, extensions or waivers to Mortgage Loan terms, fees, penalties or payments during the preceding calendar month or that have become material over time; and (xx) information about any additions of, substitutions for or removal of any Mortgage Loans from the Trust Fund, and any changes in the underwriting, acquisition or selection criteria as to any Mortgage Loans added to the Trust Fund. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Note or Certificate, as applicable, with a $1,000 denomination.

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Master Servicer shall provide forward to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), Trustee and the Indenture Trustee pursuant to Section 3.26 of the Indenture shall forward or cause to be forwarded by mail or otherwise make available electronically at www.jpmorgan.com/sfr to each Bondholder of record Certificateholder, Noteholder, the Credit E▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇tor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement setting forth the following information (the "Servicing Certificate") as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amountapplicable Record Date, if any, of the distributions to the holders of each Class of Bonds on such Distribution Determination Date applied to reduce the aggregate Bond Class Balance thereofand Payment Date; (ii) the aggregate amount of payments received with respect to the distributions to holders of each Class of Bonds on such Distribution Date allocable to (A) interestHome Equity Loans, (B) Interest Carryover Shortfalls and (C) Prepayment Premiumsincluding prepayment amounts; (iii) the outstanding Funding Note Balance as of Servicing Fee and Subservicing Fee payable to the related Determination DateMaster Servicer and the Subservicer; (iv) the number amount of any other fees or expenses paid, and Aggregate Stated Principal Balance the identity of outstanding Mortgage Loans in the Mortgage Poolparty receiving such fees or expenses; (v) the number and aggregate Stated Principal Balance amount of Mortgage Loans in the Mortgage Pool (Aa) delinquent one monthInterest Collections, (Bb) delinquent two months, Principal Collections and (Cc) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedSubstitution Adjustment Amounts for such Collection Period; (vi) with respect the amount paid as principal to any REO Property acquired during the related Collection Period, the Stated Principal Balance Noteholders of the related Mortgage Loan as each Class of the date of acquisition of the REO PropertyNotes; (vii) (A) the most recent appraised value of any REO Property as of the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited paid as interest to the Collection AccountNoteholders of each Class of Notes, separately stating the portion thereof in each case identifying such REO Property by the loan number respect of the related Mortgage LoanPrepayment Interest Shortfalls, Relief Act Shortfalls or Net WAC Cap Shortfalls, if any; (viii) the aggregate Bond Class Balance of Interest Distribution Amount remaining unpaid, if any, for each Class of Bonds before and Notes, after giving effect to the distributions payments made on such Distribution Payment Date; (ix) the aggregate amount of Principal Prepayments made during the related Prepayment Period[Reserved]; (x) the amount of any draw on the Policy for such Payment Date, the amount paid to the Credit Enhancer in reimbursement for prior draws and the aggregate amount of servicing compensation retained by or paid to prior draws under the Servicer and the Special ServicerPolicy not yet reimbursed; (xi) the amount of Realized Lossessuch distribution as principal and interest to the Certificateholders of the Certificates, if anyseparately stating the portion thereof which resulted in a reduction of the Certificate Loan Balance thereof; (xii) the aggregate Loan Balance of the Home Equity Loans as of the end of the preceding Collection Period; (xiii) the aggregate amount of Additional Balances on the Home Equity Loans created during the previous Collection Period conveyed to the Issuer; (xiv) the number and aggregate Loan Balances of Home Equity Loans (a) as to which the Minimum Monthly Payment is Delinquent for 30-59 days, incurred 60-89 days and 90 or more days, respectively, (b) that are foreclosed and (c) that have become REO, in each case as of the end of the related Collection Period; provided, however, that such information will not be provided on the statements relating to the first Payment Date; (xv) the Note Rate and the Net WAC Rate for the related Collection Period; (xvi) the aggregate Liquidation Loss Amounts with respect to the Mortgage related Collection Period, the amount of any Liquidation Loss Distribution Amounts with respect to the Notes, and the aggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as dollars and as a percentage of the aggregate Cut-off Date Loan Balance; (xvii) the aggregate Bankruptcy Losses and losses caused by or resulting from an Extraordinary Event with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xviii) the Security Balance of each Class of Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xix) the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection Period; (xx) the number and amount of any increases in the Credit Limits of the Home Equity Loans during the related Collection Period; (xiixxi) the aggregate Overcollateralization Amount, the Undercollateralization Amount and the Required Overcollateralization Amount immediately following such Payment Date; and (xxii) any material modifications, extensions or waivers to the terms of the Home Equity Loans during the Collection Period or that have cumulatively become material over time; (xxiii) any material breaches of Home Equity Loan representations or warranties or covenants in the Purchase Agreement; (xxiv) the number and principal amount of Servicing Advances release agreements pursuant to Section 3.05(c) entered into during the calendar year and P&I Advances since the Closing Date, stated separately, for the Home Equity Loans and, the aggregate outstanding principal amount of such release agreements expressed as a percentage of the end Pool Balance with information provided separately with respect to all Unsecured Loans and (2) the number and principal amount of Capitalization Workouts pursuant to Section 3.02(a)(v) entered into during the calendar year and since the Closing Date and the aggregate outstanding amount of the prior calendar month that have been made by Capitalization Workouts expressed as a percentage of the ServicerPool Balance; and (xxv) the calculation of any Servicing Trigger or Trigger Event. In the case of information furnished pursuant to clauses (ii) and (iii) above, the Special Serviceramounts shall be expressed as an aggregate dollar amount per Variable Funding Note, Term Note or Certificate, as applicable, with a $1,000 denomination. If an Amortization Event or Servicing Default shall occur, on the Business Day following the related Determination Date, the Master Servicer shall forward to the Indenture Trustee, a statement of such effect, including the nature of such Amortization Event or Servicing Default. The Indenture Trustee shall deliver or cause to be delivered by mail to the Credit Enhancer notice of such Amortization Event or Servicing Default, including, the nature thereof. Such statement may be included in, or separate from, the regular statement to Securityholders. In addition, the Master Servicer shall forward to the Indenture Trustee and any other information reasonably requested by the Fiscal Agent, separately stated; (xiii) Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Overcollateralization Level at Indenture. Prior to the close of business on such Distribution the Business Day next succeeding each Determination Date; (xiv) , the amount, if any, Master Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Collection Custodial Account and paid deposited into the Payment Account on the Business Day preceding the related Payment Date pursuant to Section 3.03. The determination by the Master Servicer of such amounts shall be presumptively deemed to be correct for all purposes hereunder and the Owner Trustee and Indenture Trustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer's written request, the Master Servicer shall promptly furnish information reasonably requested by the Issuer that is reasonably available to the Fiscal Agent, Master Servicer to enable the Indenture Trustee, the Servicer or the Special Servicer as reimbursement for Nonrecoverable Advances; (xv) with respect Issuer to any Mortgage Loan that is delinquent in respect of three or more Monthly Payments, (A) the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances perform its federal and Servicingstate income tax reporting obligations.

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day preceding the related Determination Date, the Servicer shall provide forward the Servicing Certificate and shall prepare and deliver to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), and the Indenture Trustee Trustee, pursuant to Section 3.26 of the Indenture, shall forward make a monthly statement available to each Bondholder of record Certificateholder, each Noteholder, the Depositor, the Owner Trustee, the Certificate Paying Agent, Bear Stearns Capital Markets Inc. and e▇▇▇ ▇▇ting Agency. The monthly statement shall set forth the following information as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amountaggregate amount of (a) Interest Collections and (b) Principal Collections, if any, of for the distributions to the holders of each Class of Bonds on such Distribution Date applied to reduce the aggregate Bond Class Balance thereofrelated period; (ii) the amount of such distribution as principal to the distributions to holders Noteholders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsNotes; (iii) the outstanding Funding Note Balance amount of such distribution as interest to the Noteholders of the related Determination Dateeach Class of Notes; (iv) the number and Aggregate amount, if any, received under the Hedge Agreement; (v) the amount of such distribution to the Certificateholders; (vi) the aggregate Stated Principal Balance of outstanding the Mortgage Loans in as of the end of the preceding Due Period, the aggregate Stated Principal Balance of the fixed rate Mortgage PoolLoans, and the aggregate Stated Principal Balance of the adjustable rate Mortgage Loans; (vvii) the number and aggregate Stated Principal Balance Balances of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (Da) as to which foreclosure proceedings have been commenced; the Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days and 150-179 days, respectively, (vib) with respect to any REO Property acquired during the related Collection Period, the Stated Principal Balance Mortgaged Property of the related Mortgage Loan as of the date of acquisition of the REO Property; which has been foreclosed upon and (vii) (A) the most recent appraised value of any REO Property as of the related Determination Date, (Bc) as to any REO Property sold during which the related Collection Period, the date of the related determination by the Special Servicer that it Mortgaged Property has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each become REO Property during the related Collection Period and credited to the Collection AccountProperty, in each case identifying such REO Property by the loan number as of the related Mortgage Loanend of the preceding Due Period; provided, however, that such information shall not be provided on the statements relating to the first Payment Date; (viii) the number and aggregate Bond Class Balance Stated Principal Balances of Land Loans (a) as to which the Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days and 150-179 days, respectively, (b) the related Mortgaged Property of which has been foreclosed upon and (c) as to which the related Mortgaged Property has become REO Property, in each Class case as of Bonds before and after giving effect the end of the preceding Due Period; provided, however, that such information shall not be provided on the statements relating to the distributions made on such Distribution first Payment Date; (ix) the aggregate amount of Principal Prepayments made during Liquidation Loss Amounts and Substitution Adjustment Amounts with respect to the related Prepayment PeriodPayment Date, the amount distributed as principal to Noteholders in respect of Liquidation Loss Amounts and the aggregate of the Liquidation Loss Amounts from all Payment Dates to date expressed as dollar amount and as a percentage of the aggregate Cut-Off Date Principal Balances of the Mortgage Loans; (x) the aggregate amount Note Balance of servicing compensation retained by or paid each Class of Notes and the Certificate Balance of the Certificates after giving effect to the Servicer and the Special Servicerdistribution of principal on such Payment Date; (xi) the amount Percentage Interest applicable to each of Realized Lossesthe Securities, if any, incurred with respect to the Mortgage Loans during the related Collection Periodafter application of payments made on such Payment Date; (xii) the aggregate amount of Servicing Advances Overcollateralization Amount and P&I Advances outstanding the Required Overcollateralization Amount as of the end of the prior calendar month that have been made by the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately statedPayment Date; (xiii) the Overcollateralization Level at weighted average of the close of business on such Distribution DateNet Loan Rates for the Mortgage Loans for the related Due Period; (xiv) the amountTwelve Month Loss Amount (minus the amount of any Recovery Amounts); and (xv) Rolling Three Month Delinquency Rate for such Payment Date and the two preceding Payment Dates. In the case of information furnished pursuant to clauses (ii) and (iii) above, if anythe amounts shall be expressed as an aggregate dollar amount per Note or Certificate, withdrawn from as applicable, with a $25,000 denomination. If a Servicing Default shall occur, on the Collection Account and paid Business Day following the related Determination Date, the Servicer shall forward to the Fiscal Agent, the Indenture Trustee, and the Servicer Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall forward or cause to be forwarded by mail to each Certificateholder, each Noteholder, the Special Servicer as reimbursement for Nonrecoverable Advances; Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement to such effect, including the nature of such Servicing Default. Such statement may be included in, or separate from, the regular statement sent to Securityholders. The Indenture Trustee will make the monthly statement to Securityholders (xvand, at its option, any additional files containing the same information in an alternative format) with respect available each month to any Mortgage Loan that is delinquent in respect of three or more Monthly PaymentsSecurityholders, (A) and other parties to this Agreement via the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unreIndenture Trustee's internet website. The Indenture Trustee's internet website shall initially be located at "www.abs.bankone.com". Assistance i▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇ can be obtained by calling the customer service desk at (800) 524-9472. Parties that are ▇&▇▇▇▇▇ ▇▇ ▇▇▇ the above distribution options are entitled to have a paper copy mailed to them via first Class mail by calling the customer service desk and indicating such. The Indenture Trustee shall have the right to change the way the statements to Securityholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. (b) [Reserved]. (c) The Servicer shall forward to the Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on the Business Day next succeeding each Determination Date, the Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and deposited into the Note Payment Account and/or Distribution Account on the Business Day preceding the related Payment Date pursuant to Section 3.03. The determination by the Servicer of such amounts shall, in the absence of obvious error, be deemed to be presumptively correct for all purposes hereunder, and the Owner Trustee and the Indenture Trustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer's written request, the Servicer shall promptly furnish such information reasonably requested by the Issuer that is reasonably available to the Servicer to enable the Issuer to perform its federal and state income tax reporting obligations. (d) On or before 2:00 P.M. New York time on each Business Day immediately preceding each Payment Date, the Servicer shall either (i) deposit in the Note Payment Account from its own funds, or funds received therefor from the Subservicers, an amount equal to the Advances to be made by the Servicer in respect of the related Payment Date, which shall be in an aggregate amount equal to the aggregate amount of Monthly Payments (with each interest portion thereof adjusted to the Net Loan Rate), less the amount of any related Servicing Modifications, Debt Service Reductions or reductions in the amount of interest collectable from the Mortgagor pursuant to the Soldiers' and ServicingSailors' Civil Relief Act of 1940, as amended, on the Mortgage Loans outstanding as of the related Due Date, which Monthly Payments were delinquent as of the close of business as of the related Determination Date; provided that no Advance shall be made if it would be a Nonrecoverable Advance, (ii) withdraw from amounts on deposit in the Custodial Account and deposit in the Note Payment Account all or a portion of the Amount Held for Future Distribution in discharge of any such Advance, or (iii) make advances in the form of any combination of (i) and (ii) aggregating the amount of such Advance. Any portion of the Amount Held for Future Distribution so used shall be replaced by the Servicer by deposit in the Note Payment Account on or before 11:00 A.M. New York time on any future Business Day immediately preceding each Payment Date to the extent that funds attributable to the Mortgage Loans that are available in the Custodial Account for deposit in the Note Payment Account on such Payment Date shall be less than payments to Securityholders required to be made on the following Payment Date. Such allocations shall be conclusive for purposes of reimbursement to the Servicer from recoveries on related Mortgage Loans pursuant to Section 3.10(a). The determination by the Servicer that it has made a Nonrecoverable Advance or that any proposed Advance, if made, would constitute a Nonrecoverable Advance, shall be evidenced by an Officers' Certificate of the Servicer delivered to the Depositor and the Indenture Trustee. If the Servicer determines as of the Business Day preceding any Note Payment Account Deposit Date that it will be unable to deposit in the Note Payment Account an amount equal to the Advance required to be made for the immediately succeeding Payment Date, it shall give notice to the Trustee of its inability to advance (such notice may be given by telecopy), not later than 3:00 P.M., New York time, on such Business Day, specifying the portion of such amount that it will be unable to deposit. Not later than 3:00 P.M., New York time, on the Note Payment Account Deposit Date the Trustee shall, unless by 12:00 Noon, New York time, on such day the Indenture Trustee shall have been notified in writing (by telecopy) that the Servicer shall have directly or indirectly deposited in the Note Payment Account such portion of the amount of the Advance sentence, pursuant to Section 7.01, (a) terminate all of the rights and obligations of the Servicer under this Agreement in accordance with Section 7.01 and (b) assume the obligations of the Servicer hereunder, including the obligation to deposit in the Note Payment Account an amount equal to the Advance for the immediately succeeding Payment Date and such other rights and obligations set forth in Section 7.02 hereof. The Indenture Trustee shall deposit all funds it receives pursuant to this Section 4.01 into the Note Payment Account.

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the [Master] Servicer shall provide forward to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), Trustee and the Indenture Trustee pursuant to Section 3.26 of the Indenture shall forward or cause to be forwarded by mail to each Bondholder of record as of Certificateholder, Noteholder, the most recent Record Date and to Credit Enhancer, the Depositor, the Owner Trustee (with a copy to each Trustee, the Certificate Paying Agent under the Trust Agreement for such Paying Agent to forward to and each Certificateholder of record as of the most recent Record Date) Rating Agency, a statement setting forth the following statements: information (athe "Servicing Certificate") a statement substantially in the form of Exhibit B, setting forthas to Notes and Certificates, to the extent applicable: (i) the amount, if any, aggregate amount of the distributions [(a) Security Interest Collections with respect to the holders of each Class of Bonds on such Distribution Date applied Variable Funding Notes, the Term Notes and the Certificates, (b) aggregate Security Principal Collections with respect to reduce the aggregate Bond Class Balance thereofVariable Funding Notes, the Term Notes and the Certificates and (c) Security Collections for the related Collection Period with respect to the Variable Funding Notes, the Term Notes and the Certificates;] [(a) Interest Collections, (b) Principal Collections and (c) Substitution Adjustment Amounts;] (ii) the amount of such distribution [as principal to the distributions Noteholders] [to holders the Securityholders of each Class the Variable Funding Notes, the Term Notes and the Certificates applied to reduce the principal balance thereof and separately stating the portion thereof in respect of Bonds the Accelerated Principal Distribution Amount and the amount to be deposited in the Funding Account on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsPayment Date]; (iii) the outstanding Funding Note Balance amount of such distribution [as interest to the Noteholders] [to the Securityholders of the related Determination DateVariable Funding Notes, the Term Notes and] the Certificates allocable to interest and separately stating the portion thereof in respect of overdue accrued interest; (iv) the number amount of any Credit Enhancement Draw Amount, if any, for such Payment Date and Aggregate Stated Principal Balance the aggregate amount of outstanding Mortgage Loans in the Mortgage Poolprior draws thereunder not yet reimbursed; (v) [the aggregate Asset Balance of (a) the __________ Loans, (b) the __________ Loans, (c) the __________ Loans, as of the end of the preceding Collection Period and (d) all of the Mortgage Loans;] [ the number and Pool Balance of the Mortgage Loans as of the end of the related Collection Period;] (vi) the number and aggregate Stated Principal Balance Asset Balances of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (Da) as to which foreclosure proceedings the Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-179 days and 180 or more days, respectively (b) that are foreclosed, (c) that have become REO, and (d) that have been commenced; (vi) with respect finally liquidated due to any REO Property acquired during being 180 days or more delinquent, in each case as of the end of the related Collection Period; provided, however, that such information will not be provided on the Stated Principal Balance of statements relating to the related Mortgage Loan as of the date of acquisition of the REO Propertyfirst Payment Date; (vii) (A) the most recent appraised value of any REO Property as of the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during weighted average Net Loan Rate for the related Collection Period and credited to the Collection Accountweighted average Net Loan Rate for (a) the __________ Loans, in each case identifying such REO Property by (b) the loan number of __________ Loans and (c) the __________ Loans for the related Mortgage LoanCollection Period; (viii) the aggregate Bond Class Balance Special Capital Distribution Amount and the Required Special Capital Distribution Amount, in each case as the end of each Class of Bonds before and after giving effect to the distributions made on such Distribution Daterelated Collection Period; (ix) the aggregate amount of Principal Prepayments made Additional Balances created during the related Prepayment Periodprevious Collection Period conveyed to the 200_-____ Trust; (x) the aggregate amount of servicing compensation retained by or paid to Additional Loans acquired during the Servicer and previous Collection Period with amounts in respect of Net Principal Collections from the Special ServicerFunding Account; (xi) [the amount of Realized Losses, if any, incurred aggregate Liquidation Loss Amounts with respect to the Mortgage Loans during the related Collection Period, the amount of any remaining Carryover Loss Amount with respect to the Term Notes, Certificates and Variable Funding Notes, respectively, and the aggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as a percentage of the sum of (a) the Cut-off Date Pool Balance and (b) the amount by which the Pool Balance as of the latest date that the Additional Loans have been transferred to the 200_-____ Trust exceeds the Cut-off Date Pool Balance; (xii) any unpaid interest on the aggregate amount of Servicing Advances Term Notes, Exchanged Notes, Certificates and P&I Advances outstanding as of the end of the prior calendar month that have been made by the ServicerVariable Funding Notes, the Special Servicerrespectively, the Indenture Trustee and the Fiscal Agent, separately statedafter such Distribution Date; (xiii) the Overcollateralization Level at aggregate Principal Balance of each Class of Notes and of the close Certificates after giving effect to the distribution of business principal on such Distribution Payment Date; (xiv) the amount, if any, withdrawn from the Collection Account and paid respective Security Percentage applicable to the Fiscal AgentTerm Notes, the Indenture TrusteeCertificates and Variable Funding Notes, the Servicer or the Special Servicer as reimbursement for Nonrecoverable Advances;after application of payments made on such Payment Date; and (xv) with respect the amount distributed pursuant to any Mortgage Loan that is delinquent in respect Section 3.05(a)(xi) of three or more Monthly Payments, (A) the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances and ServicingIndenture on such Payment Date.]

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Master Servicer shall provide forward the Servicing Certificate to the Indenture Trustee, in electronic form (and the Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall make such Servicing Certificate available to each Certificateholder, each Bondholder, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, with a copy to the Rating Agencies and each Paying Agent), and Enhancer. The Servicing Certificate shall set forth the Indenture Trustee shall forward to each Bondholder of record following information as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthBonds and Certificates, to the extent applicable: (i) the amountaggregate amount of (a) Interest Collections, if any(b) Principal Collections (and, of the distributions with respect to any Payment Date relating to the holders of each Class of Bonds on Managed Amortization Period, Net Principal Collections) and (c) Substitution Adjustment Amounts for such Distribution Date applied to reduce the aggregate Bond Class Balance thereofCollection Period; (ii) the amount of such distribution as principal to the distributions to holders Bondholders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsBonds; (iii) the outstanding Funding Note Balance amount of such distribution as interest to the Bondholders of each Class of Bonds, the amount thereof, if any, payable in respect of unpaid Interest Shortfalls, and the amount of any Interest Shortfalls for the related Determination Payment Date; (iv) each Policy Draw Amount, if any, for such Payment Date and the number and Aggregate Stated Principal Balance aggregate amount of outstanding Mortgage Loans in prior draws on the Mortgage PoolPolicy thereunder not yet reimbursed; (v) the number and aggregate Stated Principal Balance amount of Mortgage Loans in such distribution to the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedCertificateholders; (vi) with respect the amount of any Additional Balance Increase Amount payable to any REO Property acquired during the related Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO PropertyCertificateholders; (vii) (A) the most recent appraised value aggregate Principal Balance of any REO Property the Mortgage Loans as of the related Determination Date, (B) as to any REO Property sold during end of the related preceding Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage Loan; (viii) the number and aggregate Bond Class Balance Principal Balances of Mortgage Loans (a) as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days and 150-179 days, respectively, (b) the related Mortgaged Property of which has been foreclosed upon and (c) as to which the related Mortgaged Property has become REO Property, in each Class case as of Bonds before and after giving effect the end of the preceding Collection Period; provided, however, that such information shall not be provided on the statements relating to the distributions made on such Distribution first Payment Date; (ix) the number and aggregate amount Principal Balance of Principal Prepayments made Mortgage Loans repurchased pursuant to Section 3.15(a) herein during the related Prepayment such Collection Period; (x) the aggregate amount of servicing compensation retained by or paid to the Servicer and the Special Servicer; (xi) the amount of Realized Losses, if any, incurred with respect to the Mortgage Loans during Net WAC Rate for the related Collection Period; (xi) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount distributed as principal to Bondholders in respect of Liquidation Loss Amounts and the aggregate of the Liquidation Loss Amounts (minus any Subsequent Net Recovery Amounts) from all Collection Periods to date expressed as dollar amount and as a percentage of the aggregate Cut-Off Date Principal Balances of the Mortgage Loans; (xii) the aggregate amount Bond Balance of Servicing Advances each Class of Bonds and P&I Advances outstanding the Certificate Balance of each Class of the Certificates after giving effect to the distribution of principal on such Payment Date; (xiii) the Percentage Interest applicable to each of the Securities, after application of payments made on such Payment Date; and (xiv) the Overcollateralization Amount as of the end of the prior calendar month that have been made by preceding Collection Period. In the Servicercase of information furnished pursuant to clauses (ii) and (iii) above, the Special amounts shall be expressed as an aggregate dollar amount per Bond or Certificate, as applicable, with a $25,000 denomination and per Certificate with a denomination equal to a 100% Percentage Interest. If a Rapid Amortization Event or a Servicing Default shall occur, on the Business Day following the related Determination Date, the Master Servicer shall forward to the Indenture Trustee, a statement to such effect, including the nature of such Rapid Amortization Event or Servicing Default. Upon the Master Servicer’s becoming aware of any Early Amortization Event, the Master Servicer shall forward to the Indenture Trustee and the Fiscal AgentEnhancer, separately stated;a statement to such effect, including the nature of such Early Amortization Event. The Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall deliver or cause to be delivered by mail to each Certificateholder, each Bondholder, the Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, notice of such Rapid Amortization Event, Early Amortization Event or Servicing Default, including, the nature thereof. Such statement may be included in, or separate from, the regular statement sent to Securityholders. The Indenture Trustee will make the Servicing Certificate (and, at its option, any additional files containing the same information in an alternative format) available each month to Securityholders, and other parties to this Agreement via the Indenture Trustee’s internet website. The Indenture Trustee’s internet website shall initially be located at “ ”. Assistance in using the website can be obtained by calling the Indenture Trustee’s customer service desk at ( ) - . Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Indenture Trustee shall have the right to change the way the statements to Securityholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Indenture Trustee may require registration and the acceptance of a disclaimer in connection with access to its website. (xiiib) The Master Servicer shall forward to the Overcollateralization Level at Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on such Distribution the Business Day next succeeding each Determination Date; (xiv) , the amount, if any, Master Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Collection Custodial Account and paid deposited into the Bond Payment Account and/or Distribution Account on the Business Day preceding the related Payment Date pursuant to Section 3.03. The determination by the Master Servicer of such amounts shall, in the absence of obvious error, be deemed to be presumptively correct for all purposes hereunder, and the Owner Trustee and the Indenture Trustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer’s written request, the Master Servicer shall promptly furnish such information reasonably requested by the Issuer that is reasonably available to the Fiscal Agent, Master Servicer to enable the Indenture Trustee, the Servicer or the Special Servicer as reimbursement for Nonrecoverable Advances; (xv) with respect Issuer to any Mortgage Loan that is delinquent in respect of three or more Monthly Payments, (A) the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances perform its federal and Servicingstate income tax reporting obligations.

Statements to Securityholders. Not later than 10:00 A.M. on (a) On or before each Determination Payment Date, the Servicer Owner Trustee shall provide (except as otherwise provided in the Trust Agreement) include with each distribution to the Indenture Trustee, in electronic form (with a copy each Certificateholder to the Rating Agencies and each Paying Agent), be made on such date and the Indenture Trustee shall forward include with each distribution to each Bondholder of record as Term Noteholder and each Revolving Noteholder to be made on such date, a statement (which statement shall also be provided to the Rating Agencies) prepared by the Servicer based on information in the Servicer’s Accounting furnished pursuant to Section 3.05 of the most recent Record Date Pooling and Servicing Agreement. Except as otherwise set forth in the Officer’s Issuance Certificate with respect to the Owner Trustee (with a copy any series of Notes, each such statement to each Paying Agent under the Trust Agreement for such Paying Agent be delivered to forward to each Certificateholder of record as of the most recent Record Date) Securityholders shall set forth the following statements: (a) a statement substantially in information concerning the form of Exhibit BTerm Notes, setting forththe Revolving Notes or the Certificates, as appropriate, with respect to such Payment Date or the extent applicablepreceding Collection Period: (i) the amount, if any, of the distributions distribution allocable to principal on the Term Notes and Revolving Notes and to the holders of each Class of Bonds on such Distribution Date applied to reduce the aggregate Bond Class Balance thereofCertificate Balance; (ii) the amount amount, if any, of the distributions to holders of each Class of Bonds on such Distribution Date distribution allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment Premiumsinterest on or with respect to each series or class of Securities; (iii) the outstanding Funding Note Balance aggregate Outstanding Amount for the Term Notes, the Outstanding Amount of the Revolving Notes and the Certificate Balance, each as of such date and after giving effect to all payments reported under clause (i) above (or, in the case of any Revolving Notes during the Revolving Period, unless principal payments thereon are required on such Payment Date, as of the related Determination Datelast day of such Collection Period); (iv) the number and Aggregate Stated Principal Balance amount of outstanding Mortgage Loans in the Mortgage PoolServicer Advances on such date; (v) the number and aggregate Stated Principal Balance amount of Mortgage Loans in the Mortgage Pool (A) delinquent one monthMonthly Servicing Fee paid to the Servicer with respect to the related Collection Period or Periods, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedthe case may be; (vi) the per annum interest rate for the next Payment Date, for any series or class of Securities with respect to any REO Property acquired during the related Collection Period, the Stated Principal Balance of the related Mortgage Loan as of the date of acquisition of the REO Propertya variable or adjustable interest rate; (vii) (A) the most recent appraised value of any REO Property as of the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage Loan; (viii) the aggregate Bond Class Balance of each Class of Bonds before and after giving effect to the distributions made on such Distribution Date; (ix) the aggregate amount of Principal Prepayments made during the related Prepayment Period; (x) the aggregate amount of servicing compensation retained by or paid to the Servicer and the Special Servicer; (xi) the amount of Realized Losses, if any, incurred with respect to the Mortgage Loans during the related Collection Period; (xii) the aggregate amount of Servicing Advances and P&I Advances outstanding as of the end of the prior calendar month that have been made by the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately stated; (xiii) the Overcollateralization Level at the close of business on such Distribution Date; (xiv) the amount, if any, withdrawn from or credited to each of the Collection Account SWIFT 2007-AE-1 Reserve Funds; (viii) the accumulated interest and paid principal shortfalls, if any, on each series or class of Securities and the change in each of such amounts from the preceding Payment Date; (ix) the Trust Charge-Offs and Reallocated Principal Amounts allocated to each series or class of Securities and the Fiscal Agentchange in such amounts from the preceding Payment Date; (x) the balance of each of the SWIFT 2007-AE-1 Reserve Funds, if any, on such date after giving effect to changes therein or any distributions therefrom on such date; and (xi) the balance of each Accumulation Account, if any, on such date after giving effect to changes therein or any distributions therefrom on such date. (b) Within the prescribed period of time for tax reporting purposes after the end of each calendar year during the term of this Agreement, the Indenture TrusteeTrustee and the Administrator shall furnish (or cause to be furnished), to each Person who at any time during such calendar year shall have been a holder of record of Notes or Certificates, respectively, and received any payment thereon, a statement containing such information as may be required by the Servicer or the Special Servicer as reimbursement for Nonrecoverable Advances;Code and applicable Treasury Regulations to enable such Securityholder to prepare its federal income tax returns. (xvc) with respect A copy of each statement provided pursuant to any Mortgage Loan that is delinquent in respect of three or more Monthly Payments, (ASection 4.8(a) shall be made available for inspection at the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances and ServicingCorporate Trust Office.

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Servicer shall provide forward the Servicing Certificate and a computer file containing mutually agreed upon loan level information to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), and the Indenture Trustee Trustee, pursuant to Section 3.26 of the Indenture, shall forward make the Servicing Certificate available to each Bondholder of record Certificateholder, each Noteholder, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency. The Servicing Certificate shall set forth the following information as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amountaggregate amount of (a) Interest Collections, if any(b) Principal Collections, of the distributions to the holders of each Class of Bonds on and (c) Substitution Adjustment Amounts for such Distribution Date applied to reduce the aggregate Bond Class Balance thereofCollection Period; (ii) the amount of such distribution as principal to the distributions to holders Noteholders of each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsNotes; (iii) the outstanding Funding Note Balance amount of such distribution as interest to the Noteholders of each Class of Notes, the amount thereof, if any, payable in respect of unpaid Interest Shortfalls, and the amount of any Interest Shortfalls for the related Determination Payment Date; (iv) the number and Aggregate Stated Principal Balance amount of outstanding Mortgage Loans in such distribution to the Mortgage PoolCertificateholders; (v) the number and aggregate Stated Principal Balance of the Mortgage Loans in as of the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedend of the preceding Collection Period; (vi) the number and aggregate Principal Balances of Mortgage Loans (a) as to which the Monthly Payment is delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days and 150-179 days, respectively, (b) the related Mortgaged Property of which has been foreclosed upon and (c) as to which the related Mortgaged Property has become REO Property, in each case as of the end of the preceding Collection Period; provided, however, that such information shall not be provided on the statements relating to the first Payment Date; (vii) the aggregate Liquidation Loss Amounts with respect to any REO Property acquired during the related Collection Period, the Stated Principal Balance amount distributed as principal to Noteholders in respect of Liquidation Loss Amounts (minus any Subsequent Net Recovery Amounts) and the aggregate of the related Mortgage Loan Liquidation Loss Amounts from all Collection Periods to date expressed as dollar amount and as a percentage of the date of acquisition aggregate Cut-Off Date Principal Balances of the REO Property; (vii) (A) the most recent appraised value of any REO Property as of the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage LoanLoans; (viii) the aggregate Bond Class Note Balance of each Class of Bonds before Notes and the Certificate Balance of the Certificates after giving effect to the distributions made distribution of principal on such Distribution Payment Date; (ix) the aggregate amount on deposit in each of Principal Prepayments made during the related Prepayment Pre-Funding Account and Capitalized Interest Account as of the end of the preceding Collection Period; (x) the aggregate amount Percentage Interest applicable to each of servicing compensation retained by or paid to the Servicer and the Special ServicerSecurities, after application of payments made on such Payment Date; (xi) the amount Overcollateralization Amount as of Realized Losses, if any, incurred with respect to the Mortgage Loans during end of the related preceding Collection Period; (xii) the aggregate amount of Servicing Advances and P&I Advances outstanding as weighted average of the end of Net Loan Rates for the prior calendar month that have been made by Mortgage Loans for the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately statedrelated Collection Period; (xiii) the Overcollateralization Level at the close number and aggregate Principal Balance of business on Mortgage Loans repurchased pursuant to Section 3.15 herein during such Distribution DateCollection Period; (xiv) the amountNet Liquidation Proceeds, if anynet of any related Foreclosure Profit, withdrawn from the for such Collection Account and paid to the Fiscal Agent, the Indenture Trustee, the Servicer or the Special Servicer as reimbursement for Nonrecoverable AdvancesPeriod; (xv) with respect to any Mortgage Loan that is delinquent in respect of three or more Monthly Payments, the aggregate Subsequent Net Recovery Amounts for such Collection Period; and (A) the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (Dxvi) the aggregate Principal Balance of Subsequent Mortgage Loans transferred to the Trust Estate. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Note, as applicable, with a $25,000 denomination and per Certificate with a denomination equal to a 100% Percentage Interest. In the case of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances information furnished pursuant to clause (iii) above for the Class A-IO Notes, the amount shall be expressed as an aggregate dollar amount with a $1,000,000 denomination. If a Servicing Default shall occur, on the Business Day following the related Determination Date, the Servicer shall forward to the Indenture Trustee, and Servicingthe Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall forward or cause to be forwarded by mail to each Certificateholder, each Noteholder, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement to such effect, including the nature of such Servicing Default. Such statement may be included in, or separate from, the regular statement sent to Securityholders.

Statements to Securityholders. Not later than 10:00 A.M. on (a) With respect to each Determination Payment Date, the Servicer shall provide forward to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), Trustee and the Indenture Trustee pursuant to Section 3.26 of the Indenture shall forward or cause to be forwarded by mail to each Bondholder of record Certificateholder, Noteholder, the Credit Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement setting forth the following information as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amount, if any, aggregate amount of the distributions (a) Security Interest Collections with respect to the holders of each Class of Bonds on such Distribution Date applied Notes and the Certificates, (b) aggregate Security Principal Collections with respect to reduce the aggregate Bond Class Balance thereofNotes and the Certificates and (c) Security Collections for the related Collection Period with respect to the Notes and the Certificates; (ii) the amount of such distribution to the distributions Securityholders of the Notes and the Certificates applied to holders reduce the principal balance thereof and separately stating the portion thereof in respect of each Class of Bonds the Accelerated Principal Distribution Amount and the amount to be deposited in the Funding Account on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsPayment Date; (iii) the outstanding Funding Note Balance as amount of such distribution to the Securityholders of the related Determination DateNotes and the Certificates allocable to interest and separately stating the portion thereof in respect of overdue accrued interest; (iv) the number Credit Enhancement Draw Amount, if any, for such Payment Date and Aggregate Stated Principal Balance the aggregate amount of outstanding Mortgage Loans in the Mortgage Poolprior draws thereunder not yet reimbursed; (v) the number and aggregate Stated Principal Balance of Mortgage Loans in (a) the ________ Loans, (b) the ______ Loans, (c) the _________ Loans, as of the end of the preceding Collection Period and (d) all of the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedLoans; (vi) with respect the number and aggregate Principal Balances of Mortgage Loans (a) as to any REO Property acquired during which the related Collection PeriodMinimum Monthly Payment is delinquent for 30-59 days, the Stated Principal Balance of the related Mortgage Loan 60-89 days, 90- 179 days and 180 or more days, respectively and (b) that have become REO, in each case as of the date of acquisition end of the REO Propertypreceding Collection Period; PROVIDED, HOWEVER, that such information will not be provided on the statements relating to the first Payment Date; (vii) (A) the most recent appraised value of any REO Property as of the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during Weighted Average Net Mortgage Rate for the related Collection Period and credited to the Collection AccountWeighted Average Net Mortgage Rate for (a) the ________ Loans, in each case identifying such REO Property by (b) the loan number of _______Loans and (c) the _________ Loans for the related Mortgage LoanCollection Period; (viii) the aggregate Bond Class Balance Special Capital Distribution Amount and the Required Special Capital Distribution Amount, in each case as the end of each Class of Bonds before and after giving effect to the distributions made on such Distribution Date;related Collection Period; and (ix) the aggregate amount of Principal Prepayments made Additional Loans acquired during the related Prepayment Periodprevious Collection Period with amounts in respect of Net Principal Collections from the Funding Account; (x) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount of servicing compensation retained by or paid any remaining Carryover Loss Amount with respect to the Servicer Notes and Certificates, respectively, and the Special Serviceraggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as a percentage of the sum of (a) the Cut-Off Date Pool Balance and (b) the amount by which the Pool Balance as of the latest date that the Additional Loans have been transferred to the Company exceeds the Cut-Off Date Pool Balance; (xi) any unpaid interest on the amount of Realized LossesNotes and Certificates, if anyrespectively, incurred with respect to the Mortgage Loans during the related Collection Periodafter such Distribution Date; (xii) the aggregate amount Principal Balance of Servicing Advances each Class of Notes and P&I Advances outstanding as of the end Certificates after giving effect to the distribution of the prior calendar month that have been made by the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately statedprincipal on such Payment Date; (xiii) the Overcollateralization Level at respective Security Percentage applicable to the Notes and Certificates, after application of payments made on such Payment Date; and (xiv) the amount distributed pursuant to Section 3.05(a)(xi) of the Indenture on such Payment Date. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Note or Certificate with a $1,000 denomination. Prior to the close of business on such Distribution the Business Day next succeeding each Determination Date; , the Servicer shall furnish a written statement to the Company, the Owner Trustee, the Depositor, the Certificate Paying Agent and the Indenture Trustee setting forth (xivi) all the foregoing information, (ii) the amount, if any, aggregate amounts required to be withdrawn from the Collection Account and paid deposited into the Payment Account on the Business Day preceding the Payment Date pursuant to Section 3.03 and (iii) the amounts (A) withdrawn from the Payment Account and deposited to the Fiscal Agent, Funding Account pursuant to Section 8.02(b) of the Indenture Trusteeand (B) withdrawn from the Funding Account and deposited to the Collection Account pursuant to Section 8.02(c)(i) of the Indenture. The determination by the Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be correct for all purposes hereunder and the Owner Trustee and Indenture Trustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Company's written request, the Servicer or shall promptly furnish information reasonably requested by the Special Servicer as reimbursement for Nonrecoverable Advances; (xv) with respect to any Mortgage Loan Company that is delinquent in respect of three or more Monthly Payments, (A) reasonably available to the loan number thereof, (B) Servicer to enable the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances Company to perform its federal and Servicingstate income tax reporting obligations.

Statements to Securityholders. Not later than 10:00 A.M. on (a) On each Determination Distribution Date, the Servicer shall provide to the Indenture Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), and i) the Indenture Trustee shall forward include with each distribution to each Bondholder Noteholder of record as of the most recent related Record Date and to (ii) the Owner Trustee (shall include with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward distribution to each Certificateholder of record as of the most recent related Record Date) Date a statement, prepared by the Master Servicer, based on the information in the Distribution Date Statement furnished pursuant to Section 4.09, setting forth for such Distribution Date the following statements: (a) a statement substantially in information as of the form of Exhibit Brelated Record Date or such Distribution Date, setting forth, to as the extent applicablecase may be: (i) the amount, if any, amount of the distributions such distribution allocable to the holders of principal (stated separately for each Class of Bonds on such Distribution Date applied to reduce the aggregate Bond Class Balance thereofNotes); (ii) the amount of the distributions such distribution allocable to holders of interest (stated separately for each Class of Bonds on such Distribution Date allocable to (A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment PremiumsNotes); (iii) the outstanding Funding Note Balance as Interest Distributable Amount for each Class of the related Determination DateNotes; (iv) the number amount of any Interest Carryover Shortfall on such Distribution Date and Aggregate Stated Principal Balance of outstanding Mortgage Loans the change in such amounts from those with respect to the Mortgage Poolimmediately preceding Distribution Date; (v) the number and aggregate Stated Principal Balance amount of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as Servicing Fee paid to which foreclosure proceedings have been commencedthe Master Servicer with respect to the related Collection Period; (vi) with respect to any REO Property acquired during the related Collection PeriodClass A Principal Distributable Amount, the Stated Class B Principal Balance of Distributable Amount, the related Mortgage Loan as of Class C Principal Distributable Amount and the date of acquisition of the REO PropertyClass D Principal Distributable Amount; (vii) (A) the most recent appraised value of any REO Property as of the related Determination Date, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during Class of Notes, the related Collection Period and credited to the Collection Accountexcess, in each case identifying such REO Property by the loan number if any, of the related Mortgage Loanamount distributable in respect of principal on such Class of Notes over the amount allocated for the payment of principal on such Class of Notes; (viii) the aggregate Bond Class Balance of each Class of Bonds before and after giving effect to Aggregate Net Liquidation Losses for the distributions made on such Distribution Daterelated Collection Period; (ix) the aggregate amount Principal Balance of Principal Prepayments made during Delinquent Contracts as of the related Prepayment close of business on the last day of such Collection Period; (x) the aggregate amount Aggregate Principal Balance as of servicing compensation retained by or paid to the Servicer and close of business on the Special Servicerlast day of such Collection Period; (xi) the principal amount of Realized Losseseach Class of Notes as of such Distribution Date, if any, incurred with respect after giving effect to the Mortgage Loans during the related Collection Periodpayments allocated to principal reported under clause (i) above; (xii) the aggregate amount of Servicing Advances and P&I Advances outstanding as of the end of the prior calendar month that have been made by the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately statedCertificate Distributable Amount; (xiii) the Overcollateralization Level at amount on deposit in the close of business Spread Account on such Distribution Date, after giving effect to distributions made on such Distribution Date, and the change in such balance from the immediately preceding Distribution Date; (xiv) the Overcollateralization Amount and the amount by which the Aggregate Principal Balance exceeds the Outstanding Amount of the Notes (after giving effect to any payments made to Holders of the Notes on that Distribution Date); (xv) the disposition amounts withdrawn from the Spread Account, including the amounts used to increase the level of overcollateralization to the Overcollateralization Amount, and the Excess Spread Amount, if any, for such Distribution Date; (xvi) the amount of Net Collections; (xvii) during the Pre-Funding Period, the amount, if any, withdrawn from the Pre-Funding Account to purchase Subsequent Receivables during the related Collection Account Period; and (xviii) for the first Distribution Date immediately following the end of the Pre-Funding Period, the Remaining Pre-Funding Amount, if any. Each amount set forth pursuant to clauses (i), (ii), (iv) and paid to (v) above shall be expressed in the Fiscal Agentaggregate and as a dollar amount per $1,000.00 original principal amount of a Note. (b) Within a reasonable period of time after the end of each calendar year, but not later than the latest date permitted by law, the Indenture TrusteeTrustee shall mail to each Person who at any time during such calendar year shall have been a Holder of a Note a statement or statements, prepared by the Master Servicer, which in the aggregate contain the sum of the amounts set forth in clauses (i), (ii), (iv) and (v) of above for such calendar year or, in the event such Person shall have been a Holder of a Note during a portion of such calendar year, for the applicable portion of such year, for the purposes of such Noteholder's preparation of federal income tax returns. In addition, the Master Servicer or shall furnish to the Special Servicer as reimbursement Indenture Trustee for Nonrecoverable Advances; (xv) with respect distribution to such Person at such time any Mortgage Loan that is delinquent in respect other information necessary under applicable law for the preparation of three or more Monthly Payments, (A) the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unre▇▇▇▇▇▇▇▇ ▇&▇ Advances and Servicingsuch income tax returns.

Statements to Securityholders. Not later than 10:00 A.M. (a) With respect to each Payment Date, on each the Business Day following the related Determination Date, the Master Servicer shall provide forward the Servicing Certificate and a computer file containing mutually agreed upon loan level information to the Indenture Trustee, in electronic form (and the Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall make such Servicing Certificate available to each Certificateholder, each Noteholder, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, with a copy to the Rating Agencies and each Paying Agent), and Enhancer. The Servicing Certificate shall set forth the Indenture Trustee shall forward to each Bondholder of record following information as of the most recent Record Date and to the Owner Trustee (with a copy to each Paying Agent under the Trust Agreement for such Paying Agent to forward to each Certificateholder of record as of the most recent Record Date) the following statements: (a) a statement substantially in the form of Exhibit B, setting forthNotes and Certificates, to the extent applicable: (i) the amountapplicable Record Date, if any, of the distributions to the holders of each Class of Bonds on such Distribution Determination Date applied to reduce the aggregate Bond Class Balance thereofand Payment Date; (ii) the aggregate amount of payments received with respect to the distributions to holders of each Class of Bonds on such Distribution Date allocable to (A) interestMortgage Loans, (B) Interest Carryover Shortfalls and (C) Prepayment Premiumsincluding prepayment amounts; (iii) the outstanding Funding Note Balance as of Servicing Fee and Subservicing Fee payable to the related Determination DateMaster Servicer and the Subservicer; (iv) the number amount of any other fees or expenses paid, and Aggregate Stated Principal Balance the identity of outstanding Mortgage Loans in the Mortgage Poolparty receiving such fees or expenses; (va) the number amount of such distribution to the Securityholders of such Class applied to reduce the Securities Balance thereof, and (b) the aggregate Stated amount included therein representing Principal Balance of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months or (D) as to which foreclosure proceedings have been commencedPrepayments; (vi) with respect the amount of such distribution to any REO Property acquired during the related Collection Period, the Stated Principal Balance Holders of the related Mortgage Loan as such Class of the date of acquisition of the REO PropertySecurities allocable to interest; (vii) (A) if the most recent appraised value distribution to the Holders of any REO Property as such Class of Securities is less than the related Determination Datefull amount that would be distributable to such Holders if there were sufficient funds available therefor, (B) as to any REO Property sold during the related Collection Period, the date of the related determination by the Special Servicer that it has recovered all related proceeds that it expects to be finally recoverable and the amount of the proceeds of such sale deposited into the Collection Account, and (C) the aggregate amount of other revenues collected by the Servicer or the Special Servicer with respect to each REO Property during the related Collection Period and credited to the Collection Account, in each case identifying such REO Property by the loan number of the related Mortgage Loanshortfall; (viii) the aggregate Bond Class Securities Balance of each Class of Bonds Securities and [the Senior Percentage] [each of the related Class CB and Class NB Percentages and Subordinate Class Percentage], before and after giving effect to the distributions made amounts distributed on such Distribution Payment Date, separately identifying any reduction thereof due to Realized Losses other than pursuant to an actual distribution of principal; (ix) the aggregate amount weighted average remaining term to maturity of Principal Prepayments made during the related Prepayment PeriodMortgage Loans after giving effect to the amounts distributed on such Payment Date; (x) the aggregate amount weighted average Loan Rates of servicing compensation retained by or paid the Mortgage Loans after giving effect to the Servicer and the Special Serviceramounts distributed on such Payment Date; (xi) if applicable, the amount Special Hazard Amount, Fraud Loss Amount and Bankruptcy Amount at the opening of Realized Losses, if any, incurred with respect to business and as of the Mortgage Loans during close of business on the related Collection Periodapplicable Payment Date and a description of any change in the calculation of those amounts; (xii) the aggregate amount of Servicing Advances and P&I Advances outstanding as percentage of the end outstanding principal balances of the prior calendar month Senior Securities after giving effect to the distributions on that have been made by the Servicer, the Special Servicer, the Indenture Trustee and the Fiscal Agent, separately statedPayment Date; (xiii) the Overcollateralization Level number and Pool Balance of the Mortgage Loans after giving effect to the distribution of principal on such Payment Date and the number of Mortgage Loans at the close beginning and end of business on such Distribution Datethe preceding Collection Period; (xiv) on the basis of the most recent reports furnished to it by Sub-Servicers, the number and aggregate principal balances of Mortgage Loans that are Delinquent (A) 30-59 days, (B) 60-89 days and (C) 90 or more days and the number and aggregate principal balance of Mortgage Loans that are in foreclosure; (xv) the aggregate amount of Realized Losses for such Payment Date; (xvi) any material modifications, extensions or waivers to the terms of the Mortgage Loans during the due period or that have cumulatively become material over time; (xvii) any material breaches of Mortgage loan representations or warranties or covenants in the Agreement. (xviii) [the Guaranteed Payment for such Payment Date, and the respective portions thereof allocable to principal and interest for the Insured Securities;] (xix) [the amount of any Certificate Insurance Payment made on such Payment Date, the amount of any reimbursement payment made to Insurer on such Payment Date pursuant to Section [ ] of the Indenture and the amount of Cumulative Insurance Payments after giving effect to any such Insurance Payment or any such reimbursement payment to the Insurer;] (xx) the related [Subordinate Principal Payment Amount and Prepayment Payment Percentage], if applicable; (xxi) the number, aggregate principal balance and book value of any REO Properties; (xxii) the aggregate accrued interest remaining unpaid, if any, for each Class of Securities, after giving effect to the distribution made on such Payment Date; (xxiii) the weighted average pool strip rate for such Payment Date and the Pass-Through Rate with respect to the [Interest Only] Certificates and each Subclass, if any, thereof; (a) [the number and principal amount of release agreements pursuant to Section [ ] entered into during the calendar year and since the Closing Date, stated separately, for the Mortgage Loans and, the aggregate outstanding principal amount of such release agreements expressed as a percentage of the Pool Balance with information provided separately with respect to all Unsecured Loans and (b) the number and principal amount of Capitalization Workouts pursuant to Section [ ] entered into since the Closing Date;] (xxv) [the Pass-Through Rates on the [Floater Certificates] [and Inverse Floater Certificates] for such Payment Date, separately identifying LIBOR for such Payment Date;] (xxvi) the Notional Amount with respect to each class of Interest Only Securities and each Subclass Notional Amount; (xxvii) [the occurrence of the Credit Support Depletion Date [and the Accretion Termination Date;] (xxviii) [the related Senior Accelerated Distribution Percentage applicable to such distribution;] (xxix) [the related Senior Percentage for such Payment Date;] (xxx) the aggregate amount of any recoveries on previously foreclosed loans from Sellers due to a breach of a representation or warranty assigned to the Indenture Trustee; (xxxi) [the amount, if any, withdrawn to be paid by a Derivative Counterparty under a Derivative Contract;] (xxxii) whether or not a [Servicing Trigger] has occurred; and (xxxiii) [the amount of any payment made from the Collection Account Reserve Fund on such Payment Date and paid the balance of the Reserve Fund after giving effect to such amounts.] In the Fiscal Agentcase of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Note, as applicable, with a $xx,xxx denomination and per Certificate with a denomination equal to a xxx% Percentage Interest. In the case of information furnished pursuant to clause (iii) above for the Class A-IO Notes, the amount shall be expressed as an aggregate dollar amount with a $xxx,xxx,xxx denomination. If a Servicing Default shall occur, on the Business Day following the related Determination Date, the Master Servicer shall forward to the Indenture Trustee, a statement to such effect, including the Servicer nature of such Servicing Default. The Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall deliver or cause to be delivered by mail to each Certificateholder, each Noteholder, the Special Servicer as reimbursement for Nonrecoverable Advances; Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, notice of such Servicing Default, including the nature of such Servicing Default. Such statement may be included in, or separate from, the regular statement sent to Securityholders. The Indenture Trustee will make the Servicing Certificate (xvand, at its option, any additional files containing the same information in an alternative format) with respect available each month to any Mortgage Loan that is delinquent in respect of three or more Monthly PaymentsSecurityholders, (A) and other parties to this Agreement via the loan number thereof, (B) the unpaid balance thereof, (C) whether the delinquency is in respect of any Balloon Payment, (D) the aggregate amount of unreIndenture Trustee’s internet website. The Indenture Trustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇ .▇&▇ Advances ▇▇”. Assistance in using the website can be obtained by calling the Indenture Trustee’s customer service desk at xxx-xxx-xxxx. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and Servicingindicating such. The Indenture Trustee shall have the right to change the way the statements to Securityholders are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Indenture Trustee may require registration and the acceptance of a disclaimer in connection with access to its website. (b) The Master Servicer shall forward to the Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions pursuant to Section 3.05 of the Indenture. Prior to the close of business on the Business Day next succeeding each Determination Date, the Master Servicer shall furnish a written statement to the Certificate Paying Agent and the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and deposited into the Note Payment Account and/or Distribution Account on the Business Day preceding the related Payment Date pursuant to Section 3.03 hereof. The determination by the Master Servicer of such amounts shall, in the absence of obvious error, be deemed to be presumptively correct for all purposes hereunder, and the Owner Trustee and the Indenture Trustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer’s written request, the Master Servicer shall promptly furnish such information reasonably requested by the Issuer that is reasonably available to the Master Servicer to enable the Issuer to perform its federal and state income tax reporting obligations. (c) The Master Servicer shall, on behalf of the Depositor and in respect of the Trust Fund, prepare and cause to be filed with the Commission any periodic reports required to be filed under the provisions of the Exchange Act, and the rules and regulations of the Commission thereunder including, without limitation, reports on Form 10-K, Form 10-D and Form 8-K. In connection with the preparation and filing of such periodic reports, the Indenture Trustee shall timely provide to the Master Servicer (I) a list of Securityholders as shown on the Register as of the end of each calendar year, (II) copies of all pleadings, other legal process and any other documents relating to any claims, charges or complaints involving the Indenture Trustee, as trustee hereunder, or the Trust Estate that are received by the Indenture Trustee, (III) notice of all matters that, to the actual knowledge of a Responsible Officer of the Indenture Trustee, have been submitted to a vote of the Securityholders, other than those matters that have been submitted to a vote of the Securityholders at the request of the Depositor or the Master Servicer, and (IV) notice of any failure of the Indenture Trustee to make any distribution to the Securityholders as required pursuant to this Agreement. Neither the Master Servicer nor the Indenture Trustee shall have any liability with respect to the Master Servicer’s failure to properly prepare or file such periodic reports resulting from or relating to the Master Servicer’s inability or failure to obtain any information not resulting from the Master Servicer’s own negligence or willful misconduct (d) Any Form 10-K filed with the Commission in connection with this Section 4.01 shall include: (i) A certification, signed by the senior officer in charge of the servicing functions of the Master Servicer, in the form attached as Exhibit D-1 hereto or such other form as may be required or permitted by the Commission (the “Form 10-K Certification”), in compliance with Rules 13a-14 and 15d-14 under the Exchange Act and any additional directives of the Commission. (ii) A report regarding its assessment of compliance during the preceding calendar year with all applicable servicing criteria set forth in relevant Commission regulations with respect to mortgage-backed securities transactions taken as a whole involving the Master Servicer that are backed by the same types of assets as those backing the securities, as well as similar reports on assessment of compliance received from other parties participating in the servicing function as required by relevant Commission regulations, as described in Item 1122(a) of Regulation AB. The Master Servicer shall obtain from all other parties participating in the servicing function any required certifications. (iii) With respect to each assessment report described immediately above, a report by a registered public accounting firm that attests to, and reports on, the assessment made by the asserting party, as set forth in relevant Commission regulations, as described in Regulation 1122(b) of Regulation AB and Section 3.11. (iv) The servicer compliance certificate required to be delivered pursuant Section 3.10. (e) In connection with the Form 10-K Certification, the Indenture Trustee shall provide the Master Servicer with a back-up certification substantially in the form attached hereto as Exhibit D-2. (f) This Section 4.01 may be amended in accordance with this Agreement without the consent of the Securityholders.