March __, 2001 Deutsche Banc Alex. Brown Inc. 31 West 52nd Street New York, New York 10019 Opinion: Underwriting Agreement ACE Securities Home Equity Loan Trust, Series 2001-NC1 Asset Backed Pass-Through Certificates...Underwriting Agreement • March 22nd, 2001 • Ace Securities Corp • Asset-backed securities
We have acted as counsel to ACE Securities Corp. (the "Depositor") in connection with (i) the Mortgage Loan Purchase Agreement, dated March 19, 2001 (the "Mortgage Loan Purchase Agreement"), among the Depositor, NC Capital Corporation and Deutsche Bank AG New York Branch (the "Seller"), (ii) the Pooling and Servicing Agreement, dated as of March 1, 2001 (the "Pooling and Servicing Agreement"), among the Depositor as depositor, Litton Loan Servicing LP as servicer (the "Servicer"), U.S. Bank National Association as trustee (the "Trustee") and Bankers Trust Company of California, N.A. as trust administrator (the "Trust Administrator") and the certificates issued pursuant thereto designated as Asset-Backed Pass-Through Certificates, Series 2001-NC1, (collectively, the "Certificates"), (iii) the Underwriting Agreement, dated March 19, 2001 (the "Underwriting Agreement"), between the Depositor and Deutsche Banc Alex. Brown Inc. (the "Underwriter") pursuant to which certain Certificates were
