Common use of Type of Mortgaged Property Clause in Contracts

Type of Mortgaged Property. The Mortgaged Property is a fee simple estate, or a leasehold estate located in a jurisdiction in which the use of a leasehold estate for residential properties is a widely-accepted practice, that consists of one or more separate and complete tax parcels of real property improved by a residential dwelling; provided, however, that any condominium unit or planned unit development (other than a de minimis planned unit development) shall conform with the Underwriting Guidelines. In the case of any Mortgaged Properties that are Manufactured Homes ("Manufactured Home Mortgage Loans"), (i) the related manufactured dwelling is permanently affixed to the land, (ii) the related manufactured dwelling and the related land are subject to a Mortgage properly filed in the appropriate public recording office and naming WMC Mortgage Corp. as mortgagee, (iii) the applicable laws of the jurisdiction in which the related Mortgaged Property is located will deem the manufactured dwelling located on such Mortgaged Property to be a part of the real property on which such dwelling is located, and (iv) such Manufactured Home Mortgage Loan is (x) a qualified mortgage under Section 860G(a)(3) of the Internal Revenue Code of 1986, as amended and (y) secured by manufactured housing treated as a single family residence under Section 25(e)(10) of the Code. No portion of the Mortgaged Property was used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used for commercial purposes; provided, that Mortgaged Properties which contain a home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not storing any chemicals or raw materials other than those commonly used for homeowner repair, maintenance and/or household purposes. None of the Mortgaged Properties are log homes, mobile homes, geodesic domes or other unique property types;

Type of Mortgaged Property. The Mortgaged Property is a fee simple estate, or a leasehold estate located in a jurisdiction in which the use of a leasehold estate for residential properties is a widely-accepted practice, that consists of one or more separate and complete tax parcels of real property improved by a residential dwellingResidential Dwelling; provided, however, that any condominium unit or planned unit development (other than a de minimis planned unit development) shall conform with the Underwriting Guidelines. In the case of any Mortgaged Properties that are Manufactured Homes (a "Manufactured Home Mortgage Loans"), (i) the related manufactured dwelling is permanently affixed to the land, (ii) the related manufactured dwelling and the related land are subject to a Mortgage properly filed in the appropriate public recording office and naming WMC Mortgage Corp. Seller as mortgagee, (iii) the applicable laws of the jurisdiction in which the related Mortgaged Property is located will deem the manufactured dwelling located on such Mortgaged Property to be a part of the real property on which such dwelling is located, (iv) as of the origination date of such Manufactured Home Mortgage Loan, the related Mortgagor occupied the related Manufactured Home as its primary residence, and (ivv) such Manufactured Home Mortgage Loan is (x) a qualified mortgage under Section 860G(a)(3) of the Internal Revenue Code of 1986, as amended and (y) secured by manufactured housing treated as a single family residence under Section 25(e)(10) of the Code. No portion of the Mortgaged Property was is used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used for commercial purposes; provided, that Mortgaged Properties which contain a home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not storing any chemicals or raw materials other than those commonly used for homeowner repair, maintenance and/or household purposes. None of the Mortgaged Properties are log homes, mobile homes, geodesic domes or other unique property types. Clause (iv) above is a Deemed Material and Adverse Representation;

Type of Mortgaged Property. The Mortgaged Property is a fee simple estate, or a leasehold estate located in a jurisdiction in which the use of a leasehold estate for residential properties is a widely-accepted practice, that consists of one or more separate and complete tax parcels of real property improved by a residential dwellingResidential Dwelling; provided, however, that any condominium unit or planned unit development (other than a de minimis planned unit development) shall conform with the Underwriting Guidelines. In the case of any Mortgaged Properties that are Manufactured Homes (a "Manufactured Home Mortgage Loans"), (i) the related manufactured dwelling is permanently affixed to the land, (ii) the related manufactured dwelling and the related land are subject to a Mortgage properly filed in the appropriate public recording office and naming WMC Mortgage Corp. Seller as mortgagee, (iii) the applicable laws of the jurisdiction in which the related Mortgaged Property is located will deem the manufactured dwelling located on such Mortgaged Property to be a part of the real property on which such dwelling is located, and (iv) such Manufactured Home Mortgage Loan is (x) a qualified mortgage under Section 860G(a)(3) of the Internal Revenue Code of 1986, as amended and (y) secured by manufactured housing treated as a single family residence under Section 25(e)(10) of the Code. No portion of the Mortgaged Property was is used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used for commercial purposes; provided, that Mortgaged Properties which contain a home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not storing any chemicals or raw materials other than those commonly used for homeowner repair, maintenance and/or household purposes. None of the Mortgaged Properties are log homes, mobile homes, geodesic domes or other unique property types;

Type of Mortgaged Property. The Mortgaged Property is a fee simple estate, or a leasehold estate located in a jurisdiction in which the use of a leasehold estate for residential properties is a widely-accepted practice, that consists of one or more separate and complete tax parcels of real property improved by a residential dwellingResidential Dwelling; provided, however, that any condominium unit or planned unit development (other than a de minimis planned unit development) shall conform with the Underwriting Guidelines. In the case of any Mortgaged Properties that are Manufactured Homes (a "Manufactured Home Mortgage Loans"), (i) the related manufactured dwelling is permanently affixed to the land, (ii) the related manufactured dwelling and the related land are subject to a Mortgage properly filed in the appropriate public recording office and naming WMC Mortgage Corp. Seller as mortgagee, (iii) the applicable laws of the jurisdiction in which the related Mortgaged Property is located will deem the manufactured dwelling located on such Mortgaged Property to be a part of the real property on which such dwelling is located, (iv) as of the origination date of the related Mortgage Loan, the related manufactured housing unit that secures such Mortgage Loan either (x) was the principal residence of the Mortgagor or (y) was classified as real property under applicable state law, and (ivv) such Manufactured Home Mortgage Loan is (x) a qualified mortgage under Section 860G(a)(3) of the Internal Revenue Code of 1986, as amended and (y) secured by manufactured housing treated as a single family residence under Section 25(e)(10) of the Code. No portion of the Mortgaged Property was is used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used for commercial purposes; provided, that Mortgaged Properties which contain a home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not storing any chemicals or raw materials other than those commonly used for homeowner repair, maintenance and/or household purposes. None of the Mortgaged Properties are log homes, mobile homes, geodesic domes or other unique property types. Clause (iv) above is a Deemed Material and Adverse Representation;

Type of Mortgaged Property. The With respect to a Mortgage Loan that is not a Co-op Loan and is not secured by an interest in a leasehold estate, the Mortgaged Property is a fee simple estateestate that consists of a single parcel of real property with a detached single family residence erected thereon, or a leasehold estate located two- to four-family dwelling, or an individual residential condominium unit in a jurisdiction condominium project, or an individual unit in which the use of a leasehold estate for residential properties is a widelyplanned unit development, (or, with respect to each Co-accepted practiceop Loan, that consists of one or more separate and complete tax parcels of real property improved by an individual unit in a residential dwellingcooperative housing corporation); provided, however, that any condominium unit or unit, planned unit development (other than a de minimis planned unit development) or residential cooperative housing corporation shall conform with the Underwriting Guidelines. In Any condominium unit or planned unit development is "warrantable" with respect thereto or "nonwarrantable" if underwritten in accordance with the case of any Mortgaged Properties that are Manufactured Homes ("Manufactured Home Mortgage Loans"), (i) the related manufactured dwelling is permanently affixed to the land, (ii) the related manufactured dwelling and the related land are subject to a Mortgage properly filed in the appropriate public recording office and naming WMC Mortgage Corp. as mortgagee, (iii) the applicable laws of the jurisdiction in which the related Mortgaged Property is located will deem the manufactured dwelling located on such Mortgaged Property to be a part of the real property on which such dwelling is located, and (iv) such Manufactured Home Mortgage Loan is (x) a qualified mortgage under Section 860G(a)(3) of the Internal Revenue Code of 1986, as amended and (y) secured by manufactured housing treated as a single family residence under Section 25(e)(10) of the CodeUnderwriting Guidelines. No portion of the Mortgaged Property was (or underlying Mortgaged Property, in the case of a Co-op Loan) is used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used for commercial purposes; provided, that Mortgaged Properties which contain a home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not storing any chemicals or raw materials other than those commonly used for homeowner repair, maintenance and/or household purposes. No such residence is a mobile home. None of the Mortgage Loans are considered agricultural loans. No Mortgaged Properties Property consists of a log home except as permitted pursuant to the Fannie Mae guidelines, an earthen home, underground home or a homx xxxxh is situated on more than forty acres of property. Any Mortgage Property secured by a leasehold estate was underwritten in accordance with the Underwriting Guidelines. None of the Mortgage Loans are log homes, mobile homes, geodesic domes or other unique property typesmade for the purchase of land only;

Type of Mortgaged Property. The With respect to a Mortgage Loan that is not a Co-op Loan, the Mortgaged Property is a fee simple estate, estate or a leasehold estate located in a jurisdiction in which the use of a leasehold estate for residential properties is a widely-widely accepted practice, practice that consists of one or more separate and complete tax parcels of real property improved by a residential dwellingResidential Dwelling; provided, however, that any condominium unit or unit, planned unit development or residential cooperative housing corporation (other than a de minimis planned unit development) shall conform with the Underwriting Guidelines. In the case of any Mortgaged Properties that are Manufactured Homes (a "Manufactured Home Mortgage LoansLoan"), (i) the related manufactured dwelling is permanently affixed to the land, (ii) the related manufactured dwelling and the related land are subject to a Mortgage properly filed in the appropriate public recording office and naming WMC Seller (or the Mortgage Corp. Loan originator) as mortgagee, (iii) the applicable laws of the jurisdiction in which the related Mortgaged Property is located will deem the manufactured dwelling located on such Mortgaged Property to be a part of the real property on which such dwelling is located, and (iv) such Manufactured manufactured Home Mortgage Loan is (x) a qualified mortgage under Section 860G(a)(3) of the Internal Revenue Code of 1986, as amended and (y) secured by manufactured housing treated as a single family residence under Section 25(e)(10) of the CodeCode and (v) as of the origination date of the related Mortgage Loan, the related manufactured housing unit that secures such Mortgage Loan either (x) was the principal residence of the Mortgagor or (y) was classified as real property under applicable state law. No portion of the Mortgaged Property was (or underlying Mortgaged Property, in the case of a Co-op Loan) is used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used for commercial purposes; provided, that Mortgaged Properties which contain a home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not storing any chemicals or raw materials other than those commonly used for homeowner repair, maintenance and/or household purposes. None of the Mortgaged Properties are log homes, mobile homes, geodesic domes or other unique property types. This representation and warranty is a Deemed Material and Adverse Representation;

Type of Mortgaged Property. The With respect to a Mortgage Loan that is not a Co-op Loan, the Mortgaged Property is a fee simple estate, estate or a leasehold estate located in a jurisdiction in which the use of a leasehold estate for residential properties is a widely-widely accepted practice, practice that consists of one or more separate and complete tax parcels a single parcel of real property improved by with a detached single family residence erected thereon, or a two- to four-family dwelling, or an individual residential condominium unit in a condominium project, or a manufactured home, or an individual unit in a planned unit development, or an individual unit in a residential dwellingcooperative housing corporation; provided, however, that any condominium unit or unit, planned unit development (other than a de minimis planned unit development) or residential cooperative housing corporation shall conform with the Underwriting Guidelines. In the case of any Mortgaged Properties that are Manufactured Homes ("Manufactured Home Mortgage Loans"), (i) the related manufactured dwelling is permanently affixed to the land, (ii) the related manufactured dwelling and the related land are subject to a Mortgage properly filed in the appropriate public recording office and naming WMC Mortgage Corp. as mortgagee, (iii) the applicable laws of the jurisdiction in which the related Mortgaged Property is located will deem the manufactured dwelling located on such Mortgaged Property to be a part of the real property on which such dwelling is located, and (iv) such Manufactured Home Mortgage Loan is (x) a qualified mortgage under Section 860G(a)(3) of the Internal Revenue Code of 1986, as amended and (y) secured by manufactured housing treated as a single family residence under Section 25(e)(10) of the Code. No portion of the Mortgaged Property was (or underlying Mortgaged Property, in the case of a Co-op Loan) is used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used for commercial purposes; provided, that Mortgaged Properties which contain a home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not storing any chemicals or raw materials other than those commonly used for homeowner repair, maintenance and/or household purposes. In the case of a manufactured home, (i) the related manufactured dwelling and the related land are subject to a Mortgage properly filed in the appropriate public recording office and naming Seller as mortgagee, (ii) the applicable laws of the jurisdiction in which the related Mortgaged Property is located will deem the manufactured dwelling located on such Mortgaged Property to be a part of the real property on which such dwelling is located, (iii) as of the origination date of the related Mortgage Loan, the related manufactured housing unit that secures such Mortgage Loan either (x) was the principal residence of the Mortgagor or (y) was classified as real property under applicable state law and (iv) such manufactured home Mortgage Loan (x) would be a "qualified mortgage" under Section 860G(a)(3) of the Internal Revenue Code of 1986, as amended if transferred to a REMIC on its startup day in exchange for the regular or residual interests in the REMIC and (y) is secured by manufactured housing treated as a single family residence under Section 25(e)(10) of the Code. None of the Mortgaged Properties are log homes, mobile homes, geodesic domes or other unique property types;

Type of Mortgaged Property. The With respect to a Mortgage Loan that is not a Co-op Loan, the Mortgaged Property is a fee simple estate, estate or a leasehold estate located in a jurisdiction in which the use of a leasehold estate for residential properties is a widely-widely accepted practice, practice that consists of one or more separate and complete tax parcels a single parcel of real property improved by with a detached single family residence erected thereon, or a two- to four-family dwelling, or an individual residential condominium unit in a condominium project, or a manufactured home, or an individual unit in a planned unit development, or an individual unit in a residential dwellingcooperative housing corporation; provided, however, that any condominium unit or unit, planned unit development (other than a de minimis planned unit development) or residential cooperative housing corporation shall conform with the Underwriting GuidelinesGuidelines and any manufactured dwelling shall conform with the applicable Fannie Mae and Freddie Mac requirements regarding such dwellings. In Xx xxrtion of xxx Xxxtgaged Property (or underlying Mortgaged Property, in the case of any Mortgaged Properties that are Manufactured Homes ("Manufactured Home Mortgage Loans"), (ia Co-op Loan) the related manufactured dwelling is permanently affixed to the land, (ii) the related manufactured dwelling and the related land are subject to a Mortgage properly filed in the appropriate public recording office and naming WMC Mortgage Corp. as mortgagee, (iii) the applicable laws of the jurisdiction in which the related Mortgaged Property is located will deem the manufactured dwelling located on such Mortgaged Property to be a part of the real property on which such dwelling is located, and (iv) such Manufactured Home Mortgage Loan is (x) a qualified mortgage under Section 860G(a)(3) of the Internal Revenue Code of 1986, as amended and (y) secured by manufactured housing treated as a single family residence under Section 25(e)(10) of the Code. No portion of the Mortgaged Property was used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used for commercial purposes; provided, that Mortgaged Properties which contain a home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not storing any chemicals or raw materials other than those commonly used for homeowner repair, maintenance and/or household purposes. In the case of a manufactured home, (i) the related manufactured dwelling and the related land are subject to a Mortgage properly filed in the appropriate public recording office and naming Seller as mortgagee, (ii) the applicable laws of the jurisdiction in which the related Mortgaged Property is located will deem the manufactured dwelling located on such Mortgaged Property to be a part of the real property on which such dwelling is located, (iii) the related manufactured dwelling was the related Mortgagor's principal residence as of the origination date of such manufactured home Mortgage Loan and (iv) such manufactured home Mortgage Loan is (x) a qualified mortgage under Section 860G(a)(3) of the Internal Revenue Code of 1986, as amended and (y) secured by manufactured housing treated as a single family residence under Section 25(e)(10) of the Code. None of the Mortgaged Properties are log homes, mobile homes, geodesic domes or other unique property types;

Type of Mortgaged Property. The With respect to a Mortgage Loan that is not a Co-op Loan, the Mortgaged Property is a fee simple estate, estate or a leasehold estate located in a jurisdiction in which the use of a leasehold estate for residential properties is a widely-widely accepted practice, practice that consists of one or more separate and complete tax parcels of real property improved by a residential dwellingResidential Dwelling; provided, however, that any condominium unit or unit, planned unit development (other than a de minimis planned unit development) or residential cooperative housing corporation shall conform with the Underwriting Guidelines. In the case of any Mortgaged Properties that are Manufactured Homes (a "Manufactured Home Mortgage LoansLoan"), (i) the related manufactured dwelling is permanently affixed to the land, (ii) the related manufactured dwelling and the related land are subject to a Mortgage properly filed in the appropriate public recording office and naming WMC Seller (or the Mortgage Corp. Loan originator) as mortgagee, (iii) the applicable laws of the jurisdiction in which the related Mortgaged Property is located will deem the manufactured dwelling located on such Mortgaged Property to be a part of the real property on which such dwelling is located, and (iv) such Manufactured manufactured Home Mortgage Loan is (x) a qualified mortgage under Section 860G(a)(3) of the Internal Revenue Code of 1986, as amended and (y) secured by manufactured housing treated as a single family residence under Section 25(e)(10) of the Code. No portion of the Mortgaged Property was (or underlying Mortgaged Property, in the case of a Co-op Loan) is used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used for commercial purposes; provided, that Mortgaged Properties which contain a home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not storing any chemicals or raw materials other than those commonly used for homeowner repair, maintenance and/or household purposes. None of the Mortgaged Properties are log homes, mobile homes, geodesic domes or other unique property types;

Type of Mortgaged Property. The Mortgaged Property is a fee simple estate, or a leasehold estate located in a jurisdiction in which the use of a leasehold estate for residential properties is a widely-accepted practice, that consists of one or more separate and complete tax parcels of real property improved by a residential dwellingResidential Dwelling; provided, however, that any condominium unit or planned unit development (other than a de minimis planned unit development) shall conform with the Underwriting Guidelines. In the case of any Mortgaged Properties that are Manufactured Homes ("a “Manufactured Home Mortgage Loans"”), (i) the related manufactured dwelling is permanently affixed to the land, (ii) the related manufactured dwelling and the related land are subject to a Mortgage properly filed in the appropriate public recording office and naming WMC Mortgage Corp. Seller as mortgagee, (iii) the applicable laws of the jurisdiction in which the related Mortgaged Property is located will deem the manufactured dwelling located on such Mortgaged Property to be a part of the real property on which such dwelling is located, and (iv) such Manufactured Home Mortgage Loan is (x) a qualified mortgage under Section 860G(a)(3) of the Internal Revenue Code of 1986, as amended and (y) secured by manufactured housing treated as a single family residence under Section 25(e)(10) of the Code. No portion of the Mortgaged Property was is used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used for commercial purposes; provided, that Mortgaged Properties which contain a home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not storing any chemicals or raw materials other than those commonly used for homeowner repair, maintenance and/or household purposes. None of the Mortgaged Properties are log homes, mobile homes, geodesic domes or other unique property types;

Type of Mortgaged Property. The Mortgaged Property is a fee simple estate, or a leasehold estate located in a jurisdiction in which the use of a leasehold estate for residential properties is a widely-accepted practice, that consists of one or more separate and complete tax parcels of real property improved by a residential dwellingResidential Dwelling; provided, however, that any condominium unit or planned unit development (other than a de minimis planned unit development) shall conform with the Underwriting Guidelines. In the case of any Mortgaged Properties that are Manufactured Homes ("a “Manufactured Home Mortgage Loans"”), (i) the related manufactured dwelling is permanently affixed to the land, (ii) the related manufactured dwelling and the related land are subject to a Mortgage properly filed in the appropriate public recording office and naming WMC Mortgage Corp. Seller as mortgagee, (iii) the applicable laws of the jurisdiction in which the related Mortgaged Property is located will deem the manufactured dwelling located on such Mortgaged Property to be a part of the real property on which such dwelling is located, (iv) as of the origination date of such Manufactured Home Mortgage Loan, the related Mortgagor occupied the related Manufactured Home as its primary residence, and (ivv) such Manufactured Home Mortgage Loan is (x) a qualified mortgage under Section 860G(a)(3) of the Internal Revenue Code of 1986, as amended and (y) secured by manufactured housing treated as a single family residence under Section 25(e)(10) of the Code. No portion of the Mortgaged Property was is used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used for commercial purposes; provided, that Mortgaged Properties which contain a home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not storing any chemicals or raw materials other than those commonly used for homeowner repair, maintenance and/or household purposes. None of the Mortgaged Properties are log homes, mobile homes, geodesic domes or other unique property types. Clause (iv) above is a Deemed Material and Adverse Representation;

Type of Mortgaged Property. The Mortgaged Property is located in the state identified in the related Mortgage Loan Schedule and, with respect a fee simple Mortgage Loan that is not a Co-op Loan and is not secured by an interest in a leasehold estate, consists of real property with a detached single family residence erected thereon, or a leasehold estate located two- to four-family dwelling, or an individual condominium unit in a jurisdiction low-rise condominium project, or an individual unit in a planned unit development or a de minimis planned unit development which the use of a leasehold estate for residential properties is a widely-accepted practicein each case four stories or less, that consists of one or more separate and complete tax parcels of real property improved by a residential dwelling; provided, however, that any condominium unit mobile home (double wide only) or planned unit development (other than a de minimis planned unit development) manufactured dwelling shall conform with the Underwriting Guidelines. In the case of any Mortgaged Properties applicable Fxxxxx Mxx and Fxxxxxx Mac requirements regarding such dwellings and that are Manufactured Homes ("Manufactured Home Mortgage Loans"), (i) the related manufactured dwelling is permanently affixed to the land, (ii) the related manufactured dwelling and the related land are subject to a Mortgage properly filed in the appropriate public recording office and naming WMC Mortgage Corp. as mortgagee, (iii) the applicable laws of the jurisdiction in which the related Mortgaged Property is located will deem the manufactured dwelling located on such Mortgaged Property to be a part of the real property on which such dwelling is located, and (iv) such Manufactured Home no Mortgage Loan is (x) secured by a qualified mortgage under Section 860G(a)(3) single parcel of real property with a cooperative housing corporation, a log home or a mobile home erected thereon or by a mixed-use property, a property in excess of 10 acres, or other unique property types. As of the Internal Revenue Code date of 1986origination, as amended and (y) secured by manufactured housing treated as a single family residence under Section 25(e)(10) of the Code. No no portion of the Mortgaged Property was used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used for commercial purposes; provided, that Mortgaged Properties which contain a home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not storing any chemicals or raw materials other than those commonly used for homeowner repair, maintenance and/or household purposes. None With respect to any Mortgage Loan secured by a Mortgaged Property improved by manufactured housing, (i) the related manufactured housing unit is permanently affixed to the land, (ii) the related manufactured housing unit and the related land are subject to a Mortgage properly filed in the appropriate public recording office and naming the Seller as mortgagee, (iii) the related Mortgaged Property is not located in the state of New Jersey and (iv) as of the Mortgaged Properties are log homesorigination date of the related Mortgage Loan, mobile homes, geodesic domes the related manufactured housing unit that secures such Mortgage Loan either: (x) was the principal residence of the Mortgagor or other unique (y) was classified as real property typesunder applicable state law. This representation and warranty is a Deemed Material Breach Representation;

Type of Mortgaged Property. The With respect to a Mortgage Loan that is not a Co-op Loan, the Mortgaged Property is a fee simple estate, estate or a leasehold estate located in a jurisdiction in which the use of a leasehold estate for residential properties is a widely-widely accepted practice, practice that consists of one or more separate and complete tax parcels a single parcel of real property improved by with a detached single family residence erected thereon, or a two- to four-family dwelling, or an individual residential condominium unit in a condominium project, or a manufactured home, or an individual unit in a planned unit development, or an individual unit in a residential dwellingcooperative housing corporation; provided, however, that any condominium unit or unit, planned unit development (other than a de minimis planned unit development) or residential cooperative housing corporation shall conform with the Underwriting GuidelinesGuidelines and any manufactured dwelling shall conform with the applicable Fannie Mae and Freddie Mac requirements regarding such dwellings. In Xx xxrxxxn of xxx Xxxtgaged Property (or underlying Mortgaged Property, in the case of any Mortgaged Properties that are Manufactured Homes ("Manufactured Home Mortgage Loans"), (ia Co-op Loan) the related manufactured dwelling is permanently affixed to the land, (ii) the related manufactured dwelling and the related land are subject to a Mortgage properly filed in the appropriate public recording office and naming WMC Mortgage Corp. as mortgagee, (iii) the applicable laws of the jurisdiction in which the related Mortgaged Property is located will deem the manufactured dwelling located on such Mortgaged Property to be a part of the real property on which such dwelling is located, and (iv) such Manufactured Home Mortgage Loan is (x) a qualified mortgage under Section 860G(a)(3) of the Internal Revenue Code of 1986, as amended and (y) secured by manufactured housing treated as a single family residence under Section 25(e)(10) of the Code. No portion of the Mortgaged Property was used for commercial purposes, and since the date of origination, no portion of the Mortgaged Property has been used for commercial purposes; provided, that Mortgaged Properties which contain a home office shall not be considered as being used for commercial purposes as long as the Mortgaged Property has not been altered for commercial purposes and is not storing any chemicals or raw materials other than those commonly used for homeowner repair, maintenance and/or household purposes. In the case of a manufactured home, (i) the related manufactured dwelling and the related land are subject to a Mortgage properly filed in the appropriate public recording office and naming Seller as mortgagee, (ii) the applicable laws of the jurisdiction in which the related Mortgaged Property is located will deem the manufactured dwelling located on such Mortgaged Property to be a part of the real property on which such dwelling is located, and (iii) such manufactured home Mortgage Loan is (x) a qualified mortgage under Section 860G(a)(3) of the Internal Revenue Code of 1986, as amended and (y) secured by manufactured housing treated as a single family residence under Section 25(e)(10) of the Code. None of the Mortgaged Properties are log homes, mobile homes, geodesic domes or other unique property types;