0001144204-06-049598 Sample Contracts

RECONSTITUTED SERVICING AGREEMENT
Servicing Agreement • November 21st, 2006 • HSI Asset Securitization CORP Trust 2006-He1 • Asset-backed securities • New York

This RECONSTITUTED SERVICING AGREEMENT (this “Agreement”), entered into as of the 1st day of October, 2006, by and between HSBC BANK USA, NATIONAL ASSOCIATION (“HSBC” or the “Seller”), HSI ASSET SECURITIZATION CORPORATION (“HASCO” or the “Depositor”) and WELLS FARGO BANK, N.A., as servicer (in such capacity, the “Servicer”), and is acknowledged by WELLS FARGO BANK, N.A., as master servicer (in such capacity, the “Master Servicer”) and securities administrator (in such capacity, the “Securities Administrator”), and DEUTSCHE BANK NATIONAL TRUST COMPANY (the “Trustee”), recites and provides as follows:

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MORTGAGE LOAN PURCHASE AGREEMENT
Mortgage Loan Purchase Agreement • November 21st, 2006 • HSI Asset Securitization CORP Trust 2006-He1 • Asset-backed securities • New York

This Mortgage Loan Purchase Agreement (the “Agreement”), dated as of October 1, 2006, is between HSI Asset Securitization Corporation, a Delaware corporation (the “Company”), and HSBC Bank USA, National Association, a national banking association (the “Seller”).

ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT
Assignment, Assumption and Recognition Agreement • November 21st, 2006 • HSI Asset Securitization CORP Trust 2006-He1 • Asset-backed securities • New York

THIS SERVICING AGREEMENT (this “Agreement”) dated as of August 30, 2006, is by and between COUNTRYWIDE HOME LOANS INC., in its capacity as servicer ( “Countrywide”), and HSBC Bank USA, National Association, and its permitted successors and assigns, as Purchaser (the “Purchaser”).

HSI ASSET SECURITIZATION CORPORATION, Depositor, WELLS FARGO BANK, N.A., Master Servicer, Securities Administrator and Custodian, DEUTSCHE BANK NATIONAL TRUST COMPANY, Trustee and CLAYTON FIXED INCOME SERVICES INC., Credit Risk Manager
Pooling and Servicing Agreement • November 21st, 2006 • HSI Asset Securitization CORP Trust 2006-He1 • Asset-backed securities • New York

THIS POOLING AND SERVICING AGREEMENT, dated as of October 1, 2006, among HSI ASSET SECURITIZATION CORPORATION, as depositor (the “Depositor”), WELLS FARGO BANK, N.A., a national banking association, as master servicer (in such capacity, the “Master Servicer”), as securities administrator (in such capacity, the “Securities Administrator”) and as custodian (in such capacity, “the Custodian”), CLAYTON FIXED INCOME SERVICES INC., as credit risk manager (the “Credit Risk Manager”), and DEUTSCHE BANK NATIONAL TRUST COMPANY, a national banking association, as trustee (the “Trustee”).

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