CWABS, INC., Depositor COUNTRYWIDE HOME LOANS, INC., Seller PARK SIENNA LLC, Seller PARK GRANADA LLC, Seller COUNTRYWIDE HOME LOANS SERVICING LP, Master Servicer and THE BANK OF NEW YORK, Trustee
CWABS,
INC.,
Depositor
COUNTRYWIDE
HOME LOANS, INC.,
Seller
PARK
SIENNA LLC,
Seller
PARK
GRANADA LLC,
Seller
COUNTRYWIDE
HOME LOANS SERVICING LP,
Master
Servicer
and
THE
BANK
OF NEW YORK,
Trustee
AMENDMENT
NO. 1 dated as of
May
22,
2007 to the
Dated
as
of February 1, 2007
ASSET-BACKED
CERTIFICATES, SERIES 2007-BC1
AMENDMENT
NO. 1 dated as of May 22, 2007, among CWABS, INC., a Delaware corporation,
as
depositor (the “Depositor”), COUNTRYWIDE HOME LOANS, INC., a New York
corporation, as seller (“CHL” or a “Seller”), PARK GRANADA LLC., a Delaware
limited liability company, as a seller (“Park Granada” or a “Seller”), PARK
SIENNA LLC, a Delaware limited liability company, as a seller (“Park Sienna” or
a “Seller”, and together with CHL and Park Granada, the “Sellers”), COUNTRYWIDE
HOME LOANS SERVICING LP, a Texas limited partnership, as master servicer (the
“Master Servicer”), and THE BANK OF NEW YORK, a New York banking corporation, as
trustee (the “Trustee”).
Preliminary
Statement
The
Depositor, the Trustee, the Sellers and the Master Servicer entered into a
Pooling and Servicing Agreement (the “Agreement”), dated as of February 1, 2007,
relating to the issuance of Asset-Backed Certificates, Series 2007-BC1. This
amendment is made pursuant to Section 10.01 of the Agreement.
In
consideration of the mutual premises and agreements herein, the Depositor,
the
Trustee, the Sellers and the Master Servicer agree as follows:
| 1. |
Capitalized
terms not defined herein have the meanings assigned to them in the
Agreement.
|
| 2. |
Section
2.03(a)(77)(C) is hereby amended as follows (revised language
underlined):
|
“As
part
of the due diligence process relating to the Certificates, CHL reviewed a
statistically significant sampling of 33 mortgage loans proposed for inclusion
in Loan Group 1 and confirmed the following: none
of the
mortgage loans sampled exceed the thresholds set by HOEPA and its implementing
regulations, including 12 CFR § 226.32(a)(1)(i). CHL
confirms that (a) the Mortgage Loans sampled include refinance and purchase
money mortgage loans; (b) the sampling was done using methodology ordinarily
and
customarily used by underwriters of residential mortgage-backed securities
to
diligence pools of residential mortgage loans, and (c) it is not aware of any
mortgage loans that were not sampled that exceed the thresholds set by
HOEPA;”
IN
WITNESS WHEREOF, the parties hereto have caused their names to be signed hereto
by their respective officers thereunto duly authorized as of the day and year
first above written.
|
CWABS,
INC.,
as
Depositor
|
||
| |
|
|
| By: | /s/ Xxxxxxx Xxxxxxxxxxxx | |
|
Name: Xxxxxxx Xxxxxxxxxxxx |
||
| Title: Managing Director | ||
|
COUNTRYWIDE
HOME LOANS SERVICING LP,
as
Master Servicer
|
||
| |
|
|
| By: | COUNTRYWIDE GP, INC. | |
| By: | /s/ Xxxxxxx Xxxxxxxxxxxx | |
|
Name: Xxxxxxx Xxxxxxxxxxxx |
||
| Title: Managing Director | ||
|
THE
BANK OF NEW YORK,
as
Trustee
|
||
| |
|
|
| By: | /s/ Xxxxxxx X. Xxxxxxxx | |
|
Name: Xxxxxxx X. Xxxxxxxx |
||
| Title: Assistant Treasurer | ||
|
COUNTRYWIDE
HOME LOANS, INC.,
as
a Seller
|
||
| |
|
|
| By: | /s/ Xxxxxxx Xxxxxxxxxxxx | |
|
Name: Xxxxxxx Xxxxxxxxxxxx |
||
| Title: Managing Director | ||
|
PARK
SIENNA LLC,
as
a Seller
|
||
| |
|
|
| By: | /s/ Xxxxxxx Xxxxxxxxxxxx | |
|
Name: Xxxxxxx Xxxxxxxxxxxx |
||
| Title: Managing Director | ||
|
PARK
GRANADA LLC,
as
a Seller
|
||
| |
|
|
| By: | /s/ Xxxxxxx Xxxxxxxxxxxx | |
|
Name: Xxxxxxx Xxxxxxxxxxxx |
||
| Title: Managing Director | ||
