Common use of Statements to Securityholders Clause in Contracts

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master 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 or otherwise make available electronically to each 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 to the Notes and Certificates, to the extent applicable: (i) the aggregate amount of (a) Interest Collections, (b) Principal Collections and (c) Substitution Adjustment Amounts; (ii) the amount of such distribution as principal to the Noteholders; (iii) the amount of such distribution as interest to the Noteholders, separately stating the portion thereof in respect of overdue accrued interest; (iv) the number and Pool Balance of the Home Loans as of the end of the related Collection Period; (v) the amount of any Credit Enhancement Draw Amount, if any, for such Payment Date and the aggregate amount of prior draws thereunder not yet reimbursed; (vi) the number and aggregate Loan Balances of Home 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 end of the related Collection Period; PROVIDED, HOWEVER, that such information will not be provided on the statements relating to the first Payment Date; (vii) the weighted average Loan Rate for the related Collection Period; (viii) the aggregate Liquidation Loss Amounts with respect to the 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; (ix) the aggregate Excess Loss Amounts with respect to the related Collection Period and the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Losses and Fraud Losses with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xi) the Note Balance of the Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xii) the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection Period; (xiii) the Outstanding Reserve Amount, the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following such Payment Date; (a) the number and principal amount of release agreements pursuant to Section 3.05(b)(iv) entered into during the calendar year and since the Closing Date, stated separately, for the Home 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 3.02(a)(v) entered into since the Closing Date; and (xv) the aggregate amount recovered during the related Collection Period consisting of all subsequent recoveries on any Home Loan that was 180 days or more delinquent. 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 Master 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 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 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 Master 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 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 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, 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 Issuer's written request, the Master Servicer shall promptly furnish 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. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home Loans.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master Servicer shall forward to the Indenture Trustee a report containing the information found on their servicing system (Fidelity) in reports P139, P195, S214 and S215 and any additional information reasonably available to the Servicer 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”). Based solely on the information provided by the Servicer, upon which information it may conclusively rely without verification, the Indenture Trustee pursuant to Section 3.26 3.25 of the Indenture shall forward or cause to be forwarded by mail or otherwise make available electronically on its website initially located at “▇▇▇.▇▇▇▇▇▇.▇▇▇/▇▇▇” to each Certificateholder, Noteholder, the Credit EnhancerSecurityholder, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement the Servicing Certificate setting forth the following information, together with the other information (set forth in the "Servicing Certificate") monthly statement prepared by the Indenture Trustee pursuant to Section 3.25 of the Indenture, as to the Notes and Certificates, to the extent applicable: (i) the aggregate amount of (a) the Group I Interest CollectionsRemittance Amount, (b) the Group I Principal Collections and Remittance Amount, (b) the Group 2 Interest Remittance Amount, (c) Group ▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, (▇) the Additional Balance Advance Interest Distribution Amount and (e) Substitution Adjustment AmountsAmounts for each Loan Group; (ii) amounts paid in respect of the amount of such distribution as principal to Additional Balances from the NoteholdersCustodial Account; (iii) the amount of such distribution as interest with respect to the Noteholders, separately stating the portion thereof in respect of overdue accrued interest; (iv) each Loan Group the number and Pool Aggregate Loan Balance of the Home Loans in such Loan Group as of the end of the related Collection Period; (viv) the amount of any Credit Enhancement Draw Amountwith respect to each Loan Group, if any, for such Payment Date and the aggregate amount of prior draws thereunder not yet reimbursed; (vi) the number and aggregate Loan Principal Balances of Home 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 end of the related Collection PeriodPeriod assuming twelve, thirty day months; PROVIDEDprovided, HOWEVERhowever, that such information will not be provided on the statements relating to the first Payment Date; (viiv) with respect to each Loan Group, the weighted average Loan Mortgage Interest Rate for the related Collection Period; (viiivi) the aggregate Liquidation Loss Amounts with respect to whether or not as an Amortization Event is in effect for the 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; (ix) the aggregate Excess Loss Amounts with respect to the related Collection Period and the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Losses and Fraud Losses with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xi) the Note Balance of the Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xiivii) the Excluded Amounts, if any, received for the applicable Collection Period; (viii) with respect to each Loan Group, the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection Period; (xiii) the Outstanding Reserve Amount, the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following such Payment Date; (a) the number and principal amount of release agreements pursuant to Section 3.05(b)(iv) entered into during the calendar year and since the Closing Date, stated separately, for the Home 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 3.02(a)(v) entered into since the Closing Date; and (xvix) with respect to each Loan Group, the aggregate amount recovered during the related Collection Period consisting of all subsequent recoveries on any Home Loan that was 180 days or more delinquent. 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 Master 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 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 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 Master 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. The Servicer agrees to perform the obligations of the Servicer set forth in Section 8.02 of the Trust Agreement set forth in Article XI 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 Payment Account on the Business Day preceding prior to 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 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 ’s written request, the Master Servicer shall promptly furnish 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. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home Loans.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master Servicer shall forward to the Indenture Trustee monthly Servicing Reports in a mutually agreeable electronic format. The Servicing Reports shall set forth the following information to the extent applicable: (i) the aggregate amount of (a) Interest Collections, (b) Principal Collections, (c) Substitution Adjustment Amounts and (d) Investor P&I Collections; (ii) (a) the aggregate Loan Balance of the Home Equity Loans as of the end of the preceding Billing Cycle, (b) the Investor Amount, (c) the aggregate Loan Balance of the Mortgage Loans and (d) the aggregate Loan Balance of the Revolving Credit Loans; (iii) with respect to the Revolving Credit Loans, the aggregate amount of Additional Balances created during the previous Billing Cycle conveyed to the Issuer; (iv) the number and aggregate Loan Balances of Home Equity Loans (a) as to which the Minimum Monthly Payment is delinquent (as calculated by the OTS Method) for 30 59 days, 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 preceding Billing Cycle; provided, however, that such information will not be provided on the statements relating to the first Payment Date; (v) the aggregate Liquidation Loss Amounts with respect to the related Billing Cycle, the amount of any Liquidation Loss Distribution Amounts with respect to the Notes, and the aggregate of the Liquidation Loss Amounts from all Billing Cycles to date expressed as dollars and as a percentage of the aggregate Cut off Date Loan Balance; (vi) the aggregate Servicing Fees for the related Billing Cycle and the aggregate amount of Draws for the related Billing Cycle; (vii) the aggregate outstanding principal balance of the three Home Equity Loans having the largest outstanding principal balances or Credit Limits, as applicable for the related Billing Cycle; (viii) the number and aggregate outstanding principal balances of the Charge Off Loans and of the Home Equity Loans which are 180 or more days delinquent in the payment of all or any portion of the scheduled interest or principal for the related Billing Cycle; (ix) the 60+ Delinquency Percentage (Rolling Six Month) for the related Billing Cycle; (x) the number and the aggregate Loan Balances of Liquidated Home Equity Loans for the related Billing Cycle; and (xi) the number and the aggregate Loan Balances of Home Equity Loans having an outstanding principal balance (or any other amounts owing but otherwise unpaid) as of or following the final maturity date as set forth in the Related Documents respecting such Home Equity Loans. (b) The Indenture Trustee pursuant to Section 3.26 of the Indenture shall forward or cause to be forwarded by mail or otherwise prepare its monthly Statement based solely on the information contained in the Servicing Reports and shall make available electronically such Statements to each Certificateholder, Noteholder, the Credit Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency. The Indenture Trustee may conclusively rely on the correctness of the information contained in the Servicing Reports, a statement setting forth without independent verification thereof. The Statements to Securityholders shall contain the information in the Servicing Report and the following information (the "Servicing Certificate") as to the Notes and Certificates, to the extent applicableinformation: (i) the aggregate amount of (a) Interest Collections, (b) Principal Collections and (c) Substitution Adjustment Amountsany distribution of principal to the Noteholders; (ii) the amount of such any distribution as principal to the Noteholders; (iii) the amount of such distribution as interest to the Noteholders, separately stating the portion thereof in respect of overdue accrued interest; (iv) the number and Pool Balance of the Home Loans as of the end of the related Collection Period; (viii) the amount of any Credit Enhancement Draw Amount, if any, for such Payment Date and the aggregate amount of prior draws thereunder not yet reimbursed; (viiv) the number amount of such distribution as principal and aggregate Loan Balances interest to the Certificateholders of Home Loans (a) as to each Class of Certificates, separately stating the portion thereof 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, resulted in each case as a reduction 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 DateCertificate Principal Balance thereof; (viiv) the weighted average Net Loan Rate for the related Collection PeriodBilling Cycle; (viiivi) the aggregate Liquidation Loss Amounts with respect to the 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; (ix) the aggregate Excess Loss Amounts with respect to the related Collection Period and the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Losses and Fraud Losses with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xi) the Note Security Balance of the Notes and the Certificate Class Principal Balance of the each Class of Certificates after giving effect to the distribution of principal on such Payment Date; (xiivii) the aggregate Servicing Fees Required Overcollateralization Amount for the related Collection Period and the aggregate amount of Draws for the related Collection Period; (xiii) the Outstanding Reserve Amount, the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following such Payment Date; (a) the number and principal amount of release agreements pursuant to Section 3.05(b)(iv) entered into during the calendar year and since the Closing Date, stated separately, for the Home 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 3.02(a)(v) entered into since the Closing Date; and (xvviii) the aggregate amount recovered during Overcollateralization Amount for the related Collection Period consisting of all subsequent recoveries on any Home Loan that was 180 days or more delinquentPayment Date. In the case of information furnished pursuant to clauses (iii) and (iiiii) above, the amounts shall be expressed as an aggregate dollar amount per Note or Certificate, as applicable, with a $1,000 denomination. . The Indenture Trustee will make the monthly statement (band, at its option, any additional files containing the same information in an alternative format) In addition, with respect available each month to each Payment Date, on the Business Day following the related Determination DateNoteholders, the Master Servicer Certificateholders, and the other parties described in the second preceding paragraph via the Indenture Trustee’s internet website. The Indenture Trustee’s internet website shall forward 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 Statement distribution option 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 monthly Statements are distributed in order to make such distribution more convenient and/or more accessible to the Noteholders and the Certificateholders and the Indenture Trustee shall provide timely and adequate notification to all the Noteholders and the Certificateholders regarding any such changes. The Indenture Trustee shall deliver 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 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 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) abovea paper copy of such monthly Statements. In addition, the type and date of appraisal. The Master Servicer shall also forward to the Indenture Trustee any other information reasonably requested by the Indenture Trustee necessary to make distributions payments 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 Collection Account and deposited into the Payment Account on the Business Day preceding the related Payment such Determination Date pursuant to Section 3.03. The determination by the Master 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 Certificate Paying Agent and Indenture Trustee shall be protected in relying upon the same without any independent check or verification. In addition, upon the Issuer's ’s written request, the Master Servicer shall promptly furnish 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. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home Loans.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master 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 or otherwise make available electronically to each 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 to the Notes and Certificates, to the extent applicable: (i) the aggregate amount of (a) Interest Collections, (b) Principal Collections and (c) Substitution Adjustment Amounts; (ii) the amount of such distribution as principal to the Noteholders; (iii) the amount of such distribution as interest to the Noteholders, separately stating the portion thereof in respect of overdue accrued interest; (iv) the number and Pool Balance of the Home Loans as of the end of the related Collection Period; (v) the amount of any Credit Enhancement Draw Amount, if any, for such Payment Date and the aggregate amount of prior draws thereunder not yet reimbursed; (vi) the number and aggregate Loan Balances of Home 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 end of the related Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will not be provided on the statements relating to the first Payment Date; (vii) the weighted average Loan Rate for the related Collection Period; (viii) the aggregate Liquidation Loss Amounts with respect to the 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; (ix) the aggregate Excess Loss Amounts with respect to the related Collection Period and the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Losses and Fraud Losses with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xi) the Note Balance of the Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xii) the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection Period; (xiii) the Outstanding Reserve Amount, the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following such Payment Date; (a) the number and principal amount of release agreements pursuant to Section 3.05(b)(iv) entered into during the calendar year and since the Closing Date, stated separately, for the Home 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 3.02(a)(v) entered into since the Closing Date; and (xv) the aggregate amount recovered during the related Collection Period consisting of all subsequent recoveries on any Home Loan that was 180 days or more delinquent. 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 Master 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 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 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 Master 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 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 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, 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 Issuer's written request, the Master Servicer shall promptly furnish 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. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home Loans.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master 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 or otherwise make made available electronically on its website initially located at "www.jpmorgam.com/sfr," to each 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 to the Notes and Certificates, to the extent applicable: (i) for each of Loan Group I and Loan Group II, the aggregate amount of (a) Interest Collections, (b) Principal Collections and (c) Substitution Adjustment AmountsAmounts for such Collection Period; (ii) the amount of such distribution paid as principal to the NoteholdersNoteholders of each Class of Notes; (iii) for each of Loan Group I and Loan Group II, the amount of such distribution paid as interest to the NoteholdersNoteholders of each Class of Notes, separately stating the portion thereof in respect of overdue accrued interestPrepayment Interest Shortfalls, Relief Act Shortfalls, Group I Net WAC Cap Shortfalls or Group II Net WAC Cap Shortfalls, if any; (iv) for each of Loan Group I and Loan Group II, the number aggregate Interest Distribution Amount remaining unpaid, if any, for each Class of Class I Notes and Pool Balance of Class II Notes, after giving effect to the Home Loans as of the end of the related Collection Periodpayments made on such Payment Date; (v) [Reserved]; (vi) the amount of any Credit Enhancement Draw Amount, if any, draw on the Group I Policy or the Group II Policy for such Payment Date Date, the amount paid to the Credit Enhancer in reimbursement for prior draws and the aggregate amount of prior draws thereunder under the Policies not yet reimbursed; (vivii) for each of Loan Group I and Loan Group II, the amount of such distribution as principal and interest to the Certificateholders of the Certificates, separately stating the portion thereof which resulted in a reduction of the Certificate Loan Balance thereof; (viii) the aggregate Loan Balance of the Home Equity Loans in each Loan Group as of the end of the preceding Collection Period; (ix) the aggregate amount of Additional Balances on the Group II Loans created during the previous Collection Period conveyed to the Issuer; (x) for each of Loan Group I and Loan Group II, the number and aggregate Loan Balances of Home Equity Loans (a) as to which the Minimum Monthly Payment is Delinquent for 30-59 days, 60-89 days and 90 or more days, respectively, (b) that are foreclosed, foreclosed and (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 end of the related Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will not be provided on the statements relating to the first Payment Date; (viixi) the weighted average Loan Note Rate for each Class of Class I Notes and Class II Notes, the Group I Net WAC Rate and the Group II Net WAC Rate for the related Collection Period; (viiixii) for each of Loan Group I and Loan Group II, the aggregate Liquidation Loss Amounts with respect to the 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 BalanceBalance for such Loan Group; (ixxiii) the aggregate Excess Loss Amounts with respect to the Group I Loans and the Group II Loans with respect to the related Collection Period and the aggregate of the Excess Loss Amounts with respect to the Group I Loans and the Group II Loans from all Collection Periods to date; (xxiv) for each Loan Group, the aggregate Special Hazard Bankruptcy Losses and Fraud Losses 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; (xixv) for each of Loan Group I and Loan Group II, the Note Security Balance of the each related Class of Notes and the Certificate Principal Balance of the related Certificates after giving effect to the distribution of principal on such Payment Date; (xiixvi) the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection Period; (xiiixvii) the Outstanding Reserve number and amount of any increases in the Credit Limits of the Home Equity Loans during the related Collection Period; (xviii) the Group I Overcollateralization Amount, the Special Hazard Group II Overcollateralization Amount, the Fraud Loss Undercollateralization Amount, the Group I Required Overcollateralization Amount immediately following such Payment Date and the Reserve Group II Required Overcollateralization Amount Target immediately following such Payment Date; (a) ; and the number and principal amount of release agreements pursuant to Section 3.05(b)(iv3.05(c) entered into during the calendar year and since the Closing Date, stated separately, for the Home Group II Loans and, the aggregate outstanding principal amount of such release agreements expressed as a percentage of the Pool Balance for Loan Group II with information provided separately with respect to all Unsecured Loans and (b2) 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 (xv) , stated separately for each of Loan Group I and Loan Group II and the aggregate outstanding amount recovered during of the related Collection Period consisting Capitalization Workouts expressed as a percentage of all subsequent recoveries on any Home Loan that was 180 days or more delinquentthe respective Pool Balance. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Variable Funding Note, Term Note or Certificate, as applicable, with a $1,000 denomination. (b) In addition, with respect to each Payment Date. 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 and the Rating Agencies the following information for each Capitalization Workout entered into during the related Collection Period: (i) the original Home 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 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) abovenotice of such Amortization Event or Servicing Default, including, the type and date of appraisalnature thereof. The Such statement may be included in, or separate from, the regular statement to Securityholders. In addition, the Master 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 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 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, in the absence of obvious error, 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 Master Servicer to enable the Issuer to perform its federal and state income tax reporting obligations. . (b) The Master Servicer shall, on behalf of the Depositor and in respect of the Trust, sign 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. In connection with the preparation and filing of such periodic reports, the Indenture Trustee shall also forward timely provide to the Credit Enhancer and/or its designees Master Servicer (I) a list of Holders as shown on the Certificate Register and the Note Register as of the end of each calendar year, (II) copies of all pleadings, other legal process and any additional informationother documents relating to any claims, including without limitationcharges and complaints involving the Indenture Trustee, loss and delinquency information requested as indenture trustee hereunder, or the Trust that are received by the Credit EnhancerIndenture 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 Holders, other than those matters that have been submitted to a vote of the Holders 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 Holders as required pursuant to this Agreement. Neither the Master Servicer nor the Indenture Trustee shall have any liability with respect to the Home LoansMaster 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. Any Form 10-K filed with the Commission in connection with this clause (b) shall include a certification, signed by the senior officer in charge of the servicing functions of the Master Servicer, in the form attached as Exhibit E 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. 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 F. This Section 4.01(b) may be amended in accordance with this Agreement, but without the Rating Agency confirmations otherwise required by Section 8.01, and without the consent of the Holders.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master Servicer shall forward to the Indenture Trustee monthly Servicing Reports in a mutually agreeable electronic format 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 prepare its monthly statement based solely on the Servicing Reports and shall provide such Statements to each Certificateholder, Noteholder, the Credit Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency. The Indenture Trustee may conclusively rely on the correctness of the Servicing Reports, a statement setting without independent verification thereof. The Servicing Reports shall set forth the following information (the "Servicing Certificate") as to the Notes and Certificates, to the extent applicable: (i) the aggregate amount of (a) Interest Collections, (b) Principal Collections and Collections, (c) Substitution Adjustment AmountsAmounts and (d) Investor P&I Collections; (ii) the amount of such distribution as principal to the Noteholders; (iii) the amount of such distribution as interest to the Noteholders, separately stating the portion thereof in respect of overdue accrued interest; (iv) the number and Pool Balance of the Home Loans as of the end of the related Collection Period; (v) the amount of any Credit Enhancement Draw Amount, if any, for such Payment Date and the aggregate amount of prior draws thereunder not yet reimbursed; (v) the amount of such distribution as principal and interest to the Certificateholders of the Certificates, separately stating the portion thereof which resulted in a reduction of the Certificate Principal Balance thereof; (vi) the aggregate Loan Balance of the Revolving Credit Loans as of the end of the preceding Collection Period and the Investor Amount; (vii) the aggregate amount of Additional Balances created during the previous Collection Period conveyed to the Issuer; (viii) the number and aggregate Loan Balances of Home Revolving Credit Loans (a) as to which the Minimum Monthly Payment is Delinquent delinquent for 30-59 days, 60-89 days and 90 or more days, respectively, (b) that are foreclosed, foreclosed and (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 end of the related preceding Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will not be provided on the statements relating to the first Payment Date; (viiix) the weighted average Net Loan Rate for the related Collection Period; (viiix) the aggregate Liquidation Loss Amounts with respect to the 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; (ix) the aggregate Excess Loss Amounts with respect to the related Collection Period and the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Losses and Fraud Losses with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xi) the Note Balance of the each Class of Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date;; and (xii) the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection Period; (xiii) the Outstanding Reserve Amount, the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following such Payment Date; (a) the number and principal amount of release agreements pursuant to Section 3.05(b)(iv) entered into during the calendar year and since the Closing Date, stated separately, for the Home 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 3.02(a)(v) entered into since the Closing Date; and (xv) the aggregate amount recovered during the related Collection Period consisting of all subsequent recoveries on any Home Loan that was 180 days or more delinquent. 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. The Indenture Trustee may make available each month, to any interested party, the monthly statement to Noteholders and Certificateholders via the Indenture Trustee's website, electronic bulletin board and its fax-on-demand service. The Indenture Trustee's website will be located at "▇▇▇. ▇▇▇▇▇▇▇.▇▇▇". The Indenture Trustee's electronic bulletin board may be accessed by calling (b▇▇▇) ▇▇▇-▇▇▇▇, and its fax-on-demand service may be accessed by calling (301) 815-6610. In addition, with respect to each Payment Date, on the Business Day following the related Determination Date, the Master 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 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 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 Master 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 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 Collection Account and deposited into the Payment Account on the Business Day preceding the related Payment such Determination Date pursuant to Section 3.03. The determination by the Master 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 Issuer's written request, the Master Servicer shall promptly furnish 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. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home Loans.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master 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 or otherwise make available electronically at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇ to each 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 to the Notes and Certificates, to the extent applicable: (i) the applicable Record Date, Determination Date and Payment Date; (ii) the aggregate amount of payments received with respect to the Home Equity Loans, including prepayment amounts; (iii) the Servicing Fee and Subservicing Fee payable to the Master Servicer and the Subservicer; (iv) the amount of any other fees or expenses paid, and the identity of the party receiving such fees or expenses; (v) the aggregate amount of (a) Interest Collections, (b) Principal Collections and (c) Substitution Adjustment AmountsAmounts for such Collection Period; (iivi) the amount of such distribution paid as principal to the NoteholdersNoteholders of each Class of Notes; (iiivii) the amount of such distribution paid as interest to the NoteholdersNoteholders of each Class of Notes, separately stating the portion thereof in respect of overdue accrued interestPrepayment Interest Shortfalls, Relief Act Shortfalls or Net WAC Cap Shortfalls, if any; (ivviii) the number aggregate Interest Distribution Amount remaining unpaid, if any, for each Class of Notes, after giving effect to the payments made on such Payment Date; (ix) [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 Pool the aggregate amount of prior draws under the Policy not yet reimbursed; (xi) the amount of such distribution as principal and interest to the Certificateholders of the Certificates, separately 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 related preceding Collection Period; (vxiii) the amount of any Credit Enhancement Draw Amount, if any, for such Payment Date and the aggregate amount of prior draws thereunder not yet reimbursedAdditional Balances on the Home Equity Loans created during the previous Collection Period conveyed to the Issuer; (vixiv) the number and aggregate Loan Balances of Home Equity Loans (a) as to which the Minimum Monthly Payment is Delinquent for 30-30 to 59 days, 60-60 to 89 days and 90 or more days, respectively, (b) that are foreclosed, foreclosed and (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 end of the related Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will not be provided on the statements relating to the first Payment Date; (viixv) the weighted average Loan Note Rate and the Net WAC Rate for the related Collection Period; (viiixvi) the aggregate Liquidation Loss Amounts with respect to the 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; (ixxvii) the aggregate Excess Loss Amounts with respect to the related Collection Period and the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Bankruptcy Losses and Fraud Losses 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; (xixviii) the Note Security Balance of the each Class of Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xiixix) the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection Period; (xiiixx) the Outstanding Reserve number and amount of any increases in the Credit Limits of the Home Equity Loans during the related Collection Period; (xxi) the Overcollateralization Amount, the Special Hazard Amount, the Fraud Loss Undercollateralization Amount and the Reserve Required Overcollateralization Amount Target immediately following such Payment Date; (axxii) 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 release agreements pursuant to Section 3.05(b)(iv3.05(c) entered into during the calendar year and 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 Pool Balance with information provided separately with respect to all Unsecured Loans and (b2) 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 DateDate and the aggregate outstanding amount of the Capitalization Workouts expressed as a percentage of the Pool 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 (xvxxvii) the aggregate amount recovered during of the related Collection Period consisting premium on the Policy pursuant to Section 3.05(a) of all subsequent recoveries on any Home Loan that was 180 days or more delinquentthe Indenture. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Variable Funding Note, Term Note or Certificate, as applicable, with a $1,000 denomination. (b) In addition, with respect to each Payment Date. 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 and the Rating Agencies the following information for each Capitalization Workout entered into during the related Collection Period: (i) the original Home 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 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) abovenotice of such Amortization Event or Servicing Default, including, the type and date of appraisalnature thereof. The Such statement may be included in, or separate from, the regular statement to Securityholders. In addition, the Master 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 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 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, in the absence of obvious error, 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 Master Servicer to enable the Issuer to perform its federal and state income tax reporting obligations. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home Loans.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master 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 or otherwise make available electronically to each 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 to the Notes and Certificates, to the extent applicable: (ia) for each Loan Group, the aggregate amount of (a) Interest Collections, (b) Principal Collections and (c) Substitution Adjustment AmountsAmounts for such Collection Period; (iib) the amount of such distribution paid as principal to the NoteholdersNoteholders of each Class of Notes; (iiic) for each Loan Group, the amount of such distribution paid as interest to the NoteholdersNoteholders of each Class of Notes, separately stating the portion thereof in respect of overdue accrued interestPrepayment Interest Shortfalls, Relief Act Shortfalls, Group I Net WAC Cap Shortfalls or Group II Net WAC Cap Shortfalls, if any; (ivd) for each Loan Group, the number aggregate Interest Distribution Amount remaining unpaid, if any, for each Class of Class I Notes and Pool Balance of Class II Notes, after giving effect to the Home Loans as of the end of the related Collection Periodpayments made on such Payment Date; (ve) with respect to Loan Group I, the amount of any Group I Credit Enhancement Draw AmountAmount or Dissolution Draw, if any, for such Payment Date Date, the amount paid to the Credit Enhancer in reimbursement for prior draws and the aggregate amount of prior draws thereunder under the Group I Policy not yet reimbursed; (vif) with respect to Loan Group II, the amount of any Group II Credit Enhancement Draw Amount or Dissolution Draw, if any, for such Payment Date, the amount paid to the Credit Enhancer in reimbursement for prior draws and the aggregate amount of prior draws under the Group II Policy not yet reimbursed; (g) for each Loan Group, the amount of such distribution as principal and interest to the Certificateholders of the Certificates, separately stating the portion thereof which resulted in a reduction of the Certificate Loan Balance thereof; (h) the aggregate Loan Balance of the Home Equity Loans in each Loan Group as of the end of the preceding Collection Period; (i) the aggregate amount of Additional Balances on the Group II Loans created during the previous Collection Period conveyed to the Issuer; (j) for each Loan Group, the number and aggregate Loan Balances of Home Equity Loans (a) as to which the Minimum Monthly Payment is Delinquent for 30-59 days, 60-89 days and 90 or more days, respectively, (b) that are foreclosed, foreclosed and (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 end of the related Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will not be provided on the statements relating to the first Payment Date; (viik) the weighted average Loan Note Rate for each Class of Class I Notes and Class II Notes, the Group I Net WAC Rate and the Group II Net WAC Rate for the related Collection Period; (viiil) for each Loan Group, the aggregate Liquidation Loss Amounts with respect to the 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 BalanceBalance for such Loan Group; (ixm) the aggregate Excess Loss Amounts with respect to the Group II Loans with respect to the related Collection Period and the aggregate of the Excess Loss Amounts with respect to the Group II Loans from all Collection Periods to date; (xn) for each Loan Group, the aggregate Special Hazard Losses, Fraud Losses, Bankruptcy Losses and Fraud Losses 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; (xio) for each Loan Group, the Note Security Balance of the each related Class of Notes and the Certificate Principal Balance of the related Certificates after giving effect to the distribution of principal on such Payment Date; (xiip) the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection Period; (xiiiq) the Outstanding Reserve number and amount of any increases in the Credit Limits of the Home Equity Loans during the related Collection Period; (r) the Group I Overcollateralization Amount, the Group II Overcollateralization Amount, the Undercollateralization Amount, the Special Hazard AmountAmount for each Loan Group, the Fraud Loss Amount for each Loan Group, the Bankruptcy Loss Amount for each Loan Group, the Group I Required Overcollateralization Amount immediately following such Payment Date and the Reserve Group II Required Overcollateralization Amount Target immediately following such Payment Date;; and (as) (1) the number and principal amount of release agreements pursuant to Section 3.05(b)(iv3.05(c) entered into during the calendar year and since the Closing Date, stated separately, for the Home Group II Loans and, the aggregate outstanding principal amount of such release agreements expressed as a percentage of the Pool Balance for Loan Group II with information provided separately with respect to all Unsecured Loans and (b2) 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 (xv) , stated separately for each Loan Group and the aggregate outstanding amount recovered during of the related Collection Period consisting Capitalization Workouts expressed as a percentage of all subsequent recoveries on any Home Loan that was 180 days or more delinquentthe respective Pool Balance. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Variable Funding Note, Term 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 Master 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 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 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 Master 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 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 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, 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 Issuer's written request, the Master Servicer shall promptly furnish 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. . (b) The Master Servicer shall, on behalf of the Depositor and in respect of the Trust, sign 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. In connection with the preparation and filing of such periodic reports, the Indenture Trustee shall also forward timely provide to the Credit Enhancer and/or its designees Master Servicer (I) a list of Holders as shown on the Certificate Register and the Note Register as of the end of each calendar year, (II) copies of all pleadings, other legal process and any additional informationother documents relating to any claims, including without limitationcharges and complaints involving the Indenture Trustee, loss and delinquency information requested as indenture trustee hereunder, or the Trust that are received by the Credit EnhancerIndenture 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 Holders, other than those matters that have been submitted to a vote of the Holders 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 Holders as required pursuant to this Agreement. Neither the Master Servicer nor the Indenture Trustee shall have any liability with respect to the Home LoansMaster 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. Any Form 10-K filed with the Commission in connection with this clause (b) shall include a certification, signed by the senior officer in charge of the servicing functions of the Master Servicer, in the form attached as Exhibit E 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. 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 F. This Section 4.01(b) may be amended in accordance with this Agreement, but without the Rating Agency confirmations otherwise required by Section 8.01, and without the consent of the Holders.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master Servicer shall forward the Servicing Certificate and a computer file containing mutually agreed upon loan level information to the Indenture Trustee Trustee, and the Indenture Trustee Trustee, pursuant to Section 3.26 of the Indenture Indenture, shall forward or cause to be forwarded by mail or otherwise make such Servicing Certificate available electronically to each Certificateholder, each Noteholder, the Credit Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement setting . The Servicing Certificate shall set forth the following information (the "Servicing Certificate") as to the Notes and Certificates, to the extent applicable: (i) for each Loan Group, the aggregate amount of (a) Interest Collections, (b) Principal Collections Collections, and (c) Substitution Adjustment AmountsAmounts for such Collection Period; (ii) the amount of such distribution as principal to the NoteholdersNoteholders of each Class of Notes; (iii) the amount of such distribution as interest to the Noteholders, separately stating the portion thereof in respect Noteholders of overdue accrued interesteach Class of Notes; (iv) the number and Pool Balance of the Home Loans as of the end of the related Collection Period; (v) the amount of any Credit Enhancement Draw Insured Amount, if any, for such Payment Date and the aggregate amount of prior draws on the Policy thereunder not yet reimbursed; (v) the amount of such distribution to the Certificateholders; (vi) the aggregate Principal Balance of the Home Loans in each Loan Group as of the end of the preceding Collection Period; (vii) the number and aggregate Loan Principal Balances of Home Loans (a) as to which the Monthly Payment is Delinquent delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days and 90 or more 150-179 days, respectively, (b) that are foreclosed, the related Mortgaged Property of which has been foreclosed upon and (c) that have as to which the related Mortgaged Property has become REO, and (d) that have been finally liquidated due to being 180 days or more delinquentREO Property, in each case as of the end of the related preceding Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will shall not be provided on the statements relating to the first Payment Date; (vii) the weighted average Loan Rate for the related Collection Period; (viii) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount distributed as principal to Noteholders in respect of any Liquidation Loss Distribution Amounts with respect to the Notes, (minus any Recovery Amounts) and the aggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as dollars dollar amount and as a percentage of the aggregate Cut-off Off Date Loan BalancePrincipal Balances of the Home Loans; (ix) the aggregate Excess Loss Amounts with respect to the related Collection Period and the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Losses and Fraud Losses with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xi) the Note Balance of the each Class of Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (x) the amount on deposit in each of the Pre-Funding Account and Capitalized Interest Account as of the end 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 aggregate Servicing Fees Overcollateralization Amount as of the end of the preceding Collection Period; (xiii) the amount of 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); (xiv) the weighted average of the Net Loan Rates for the related Collection Period and the aggregate amount of Draws Home Loans for the related Collection Period; (xiii) the Outstanding Reserve Amount, the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following such Payment Date; (axv) the number and principal amount aggregate Principal Balance of release agreements Home Loans repurchased pursuant to Section 3.05(b)(iv3.15(a) entered into herein during the calendar year and since the Closing Date, stated separately, for the Home 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 3.02(a)(v) entered into since the Closing Daterelated Collection Period; and (xvxvi) the aggregate amount recovered during Principal Balance of Subsequent Home Loans transferred to the related Collection Period consisting of all subsequent recoveries on any Home Trust Estate for each Loan that was 180 days or more delinquentGroup. 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 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 (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 Indenture Trustee's customer service desk at ▇▇▇-▇▇▇-▇▇▇▇. Parties that are unable to use the above website 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) In addition, with respect to each Payment Date, on the Business Day following the related Determination Date, the Master 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 Combined Loan-to-Value Ratio CLTV prior to the Capitalization Workout; (vii) the Combined Loan-to-Value Ratio CLTV after the Capitalization Workout; and (viii) if an appraisal was used in determining the Combined Loan-to-Value Ratio CLTV referred to in (vii) above, the type and date of appraisal. . (c) The Master 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 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. The determination by the Master Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be presumptively correct for all purposes hereunder 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. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home Loans.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master 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 or otherwise make available electronically to each 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 to the Notes and Certificates, to the extent applicable: (ia) for each Loan Group, the aggregate amount of (a) Interest Collections, (b) Principal Collections and (c) Substitution Adjustment AmountsAmounts for such Collection Period; (iib) the amount of such distribution paid as principal to the NoteholdersNoteholders of each Class of Notes; (iiic) for each Loan Group, the amount of such distribution paid as interest to the NoteholdersNoteholders of each Class of Notes, separately stating the portion thereof in respect of overdue accrued interestPrepayment Interest Shortfalls, Relief Act Shortfalls or Basis Risk Shortfalls, if any; (ivd) for each Loan Group, the number aggregate Interest Distribution Amount remaining unpaid, if any, for each Class of Class I Notes and Pool Balance of Class II Notes, after giving effect to the Home Loans as of the end of the related Collection Periodpayments made on such Payment Date; (ve) with respect to Loan Group I, the amount of any Group I Credit Enhancement Draw AmountAmount or Dissolution Draw, if any, for such Payment Date Date, the amount paid to the Credit Enhancer in reimbursement for prior draws and the aggregate amount of prior draws thereunder under the Group I Policy not yet reimbursed; (vif) with respect to Loan Group II, the amount of any Group II Credit Enhancement Draw Amount or Dissolution Draw, if any, for such Payment Date, the amount paid to the Credit Enhancer in reimbursement for prior draws and the aggregate amount of prior draws under the Group II Policy not yet reimbursed; (g) for each Loan Group, the amount of such distribution as principal and interest to the Certificateholders of the Certificates, separately stating the portion thereof which resulted in a reduction of the Certificate Loan Balance thereof; (h) the aggregate Loan Balance of the Home Equity Loans in each Loan Group as of the end of the preceding Collection Period; (i) the aggregate amount of Additional Balances on the Group II Loans created during the previous Collection Period conveyed to the Issuer; (j) for each Loan Group, the number and aggregate Loan Balances of Home Equity Loans (a) as to which the Minimum Monthly Payment is Delinquent for 30-59 days, 60-89 days and 90 or more days, respectively, (b) that are foreclosed, foreclosed and (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 end of the related Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will not be provided on the statements relating to the first Payment Date; (viik) the weighted average Loan Note Rate for each Class of Class I Notes and Class II Notes, the Group I Net WAC Rate and the Group II Net WAC Rate for the related Collection Period; (viiil) for each Loan Group, the aggregate Liquidation Loss Amounts with respect to the 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 BalanceBalance for such Loan Group; (ixm) the aggregate Excess Loss Amounts with respect to the Group II Loans with respect to the related Collection Period and the aggregate of the Excess Loss Amounts with respect to the Group II Loans from all Collection Periods to date; (xn) for each Loan Group, the aggregate Special Hazard Losses, Fraud Losses, Bankruptcy Losses and Fraud Losses 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; (xio) for each Loan Group, the Note Security Balance of the each related Class of Notes and the Certificate Principal Balance of the related Certificates after giving effect to the distribution of principal on such Payment Date; (xiip) the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection Period; (xiiiq) the Outstanding Reserve number and amount of any increases in the Credit Limits of the Home Equity Loans during the related Collection Period; (r) the Group I Overcollateralization Amount, the Group II Overcollateralization Amount, the Undercollateralization Amount, the Special Hazard AmountAmount for each Loan Group, the Fraud Loss Amount for each Loan Group, the Bankruptcy Loss Amount for each Loan Group, the Group I Required Overcollateralization Amount immediately following such Payment Date and the Reserve Group II Required Overcollateralization Amount Target immediately following such Payment Date;; and (as) (1) the number and principal amount of release agreements pursuant to Section 3.05(b)(iv3.05(c) entered into during the calendar year and since the Closing Date, stated separately, for the Home Group II Loans and, the aggregate outstanding principal amount of such release agreements expressed as a percentage of the Pool Balance for Loan Group II with information provided separately with respect to all Unsecured Loans and (b2) 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 (xv) , stated separately for each Loan Group and the aggregate outstanding amount recovered during of the related Collection Period consisting Capitalization Workouts expressed as a percentage of all subsequent recoveries on any Home Loan that was 180 days or more delinquentthe respective Pool Balance. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Variable Funding Note, Term 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 Master 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 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 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 Master 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 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 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, 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 Issuer's written request, the Master Servicer shall promptly furnish 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. . (b) The Master Servicer shall, on behalf of the Depositor and in respect of the Trust, sign 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. In connection with the preparation and filing of such periodic reports, the Indenture Trustee shall also forward timely provide to the Credit Enhancer and/or its designees Master Servicer (I) a list of Holders as of the end of each calendar year, (II) all material information with respect to any additional informationlegal proceedings involving the Indenture Trustee or the Trust that is in the possession of the Indenture Trustee and is not, including without limitationto the best of the Indenture Trustee's knowledge, loss and delinquency in the possession of the Master Servicer, (III) all material information requested by the Credit Enhancer, with respect to the Home Loanssubmission of matters to a vote of the Holders that is in the possession of the Indenture Trustee and is not, to the best of the Indenture Trustee's knowledge, in the possession of the Master Servicer, and (IV) all material information with respect to any failure of the Indenture Trustee to make any distribution to the Holders 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. Any Form 10-K filed with the Commission in connection with this clause (b) shall include a certification, signed by the senior officer in charge of the servicing functions of the Master Servicer, in the form attached as Exhibit E hereto or such other form as may be required or permitted by the Commission (the "Form 10-K Certification"), in compliance with Rule 13a-14 and 15d-14 under the Exchange Act and any additional directives of the Commission. This Section 4.01(b) may be amended in accordance with this Agreement without the consent of the Holders.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master 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 or otherwise make available electronically to each 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 to the Notes and Certificates, to the extent applicable: (i) the aggregate amount of (a) Security Interest CollectionsCollections with respect to the Notes and the Certificates, (b) aggregate Security Principal Collections with respect to the Notes and the Certificates and (c) Substitution Adjustment AmountsSecurity Collections for the related Collection Period with respect to the Notes and the Certificates; (ii) the amount of such distribution as principal to the NoteholdersSecurityholders of the Notes and the Certificates applied to reduce the principal balance thereof and separately stating the portion thereof in respect of the Accelerated Principal Distribution Amount and the amount to be deposited in the Funding Account on such Payment Date; (iii) the amount of such distribution as interest to the Noteholders, Securityholders of the Notes and the Certificates allocable to interest and separately stating the portion thereof in respect of overdue accrued interest; (iv) the number and Pool Balance of the Home Loans as of the end of the related Collection Period; (v) the amount of any Credit Enhancement Draw Amount, if any, for such Payment Date and the aggregate amount of prior draws thereunder not yet reimbursed; (v) the aggregate Principal 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; (vi) the number and aggregate Loan Principal Balances of Home Mortgage Loans (a) as to which the Minimum Monthly Payment is Delinquent delinquent for 30-59 days, 60-89 days, 90-179 days and 90 180 or more days, respectively, respectively and (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 end of the related preceding Collection Period; PROVIDED, HOWEVER, that such information will not be provided on the statements relating to the first Payment Date; (vii) the weighted average Loan Weighted Average Net Mortgage Rate for the related Collection Period and the Weighted Average Net Mortgage Rate for (a) the ________ Loans, (b) the _______Loans and (c) the _________ Loans for the related Collection Period; (viii) the Special Capital Distribution Amount and the Required Special Capital Distribution Amount, in each case as the end of the related Collection Period; and (ix) the aggregate amount of Additional Loans acquired during the previous 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 any Liquidation remaining Carryover Loss Distribution Amounts Amount with respect to the NotesNotes and Certificates, respectively, and the aggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as dollars and as a percentage of the aggregate sum of (a) the Cut-off Off Date Loan Balance; Pool Balance and (ixb) the aggregate Excess Loss Amounts with respect amount by which the Pool Balance as of the latest date that the Additional Loans have been transferred to the related Collection Period and Company exceeds the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Losses and Fraud Losses with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to dateCut-Off Date Pool Balance; (xi) the Note Balance of any unpaid interest on the Notes and Certificates, respectively, after such Distribution Date; (xii) the Certificate aggregate Principal Balance of each Class of Notes and of the Certificates after giving effect to the distribution of principal on such Payment Date; (xii) the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection Period; (xiii) the Outstanding Reserve Amountrespective Security Percentage applicable to the Notes and Certificates, the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following after application of payments made on such Payment Date; (a) the number and principal amount of release agreements pursuant to Section 3.05(b)(iv) entered into during the calendar year and since the Closing Date, stated separately, for the Home 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 3.02(a)(v) entered into since the Closing Date; and (xvxiv) the aggregate amount recovered during distributed pursuant to Section 3.05(a)(xi) of the related Collection Period consisting of all subsequent recoveries Indenture on any Home Loan that was 180 days or more delinquentsuch 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, Certificate with a $1,000 denomination. (b) In addition, with respect to each Payment Date, on the Business Day following the related Determination Date, the Master 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 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 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 Master 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 the Business Day next succeeding each Determination Date, the Master Servicer shall furnish a written statement to the Company, the Owner Trustee, the Depositor, the Certificate Paying Agent and the Indenture Trustee setting forth (i) all the foregoing information, (ii) the aggregate amounts required to be withdrawn from the Custodial Collection Account and deposited into the Payment Account on the Business Day preceding the related Payment Date pursuant to Section 3.033.03 and (iii) the amounts (A) withdrawn from the Payment Account and deposited to the Funding Account pursuant to Section 8.02(b) of the Indenture and (B) withdrawn from the Funding Account and deposited to the Collection Account pursuant to Section 8.02(c)(i) of the Indenture. The determination deter mination by the Master 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 IssuerCompany's written request, the Master Servicer shall promptly furnish information reasonably requested by the Issuer Company that is reasonably available to the Master Servicer to enable the Issuer Company to perform its federal and state income tax reporting obligations. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home Loans.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master 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 or otherwise make available electronically to each 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 to the Notes and Certificates, to the extent applicable: (i) the aggregate amount of (a) Interest Collections, (b) Principal Collections and (c) Substitution Adjustment Amounts; (ii) the amount of such distribution as principal to the Noteholders; (iii) the amount of such distribution as interest to the Noteholders, separately stating the portion thereof in respect of overdue accrued interest; (iv) the number and Pool Balance of the Home Loans as of the end of the related Collection Period; (v) the amount of any Credit Enhancement Draw Amount, if any, for such Payment Date and the aggregate amount of prior draws thereunder not yet reimbursed; (vi) the number and aggregate Loan Balances of Home 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 end of the related Collection Period; PROVIDED, HOWEVER, that such information will not be provided on the statements relating to the first Payment Date; (vii) the weighted average Loan Rate for the related Collection Period; (viii) the aggregate Liquidation Loss Amounts with respect to the 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; (ix) the aggregate Excess Loss Amounts with respect to the related Collection Period and the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Losses and Fraud Losses with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xi) the Note Balance of the Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xii) the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection Period; (xiii) the Outstanding Reserve Amount, the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following such Payment Date; (a) the number and principal amount of release agreements pursuant to Section 3.05(b)(iv) entered into during the calendar year and since the Closing Date, stated separately, for the Home 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 3.02(a)(v) entered into since the Closing Date; and (xv) the aggregate amount recovered during the related Collection Period consisting of all subsequent recoveries on any Home Loan that was 180 days or more delinquent. 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 Master 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 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 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 Master 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 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 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, 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 Issuer's written request, the Master Servicer shall promptly furnish 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. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home Loans.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master 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 or otherwise make available electronically to each 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 to the Notes and Certificates, to the extent applicable: (i) the aggregate amount of (a) Interest Collections, (b) Principal Collections and (c) Substitution Adjustment Amounts; (ii) the amount of such distribution as principal to the Noteholders; (iii) the amount of such distribution as interest to the Noteholders, separately stating the portion thereof in respect of overdue accrued interest; (iv) the number and Pool Balance of the Home Loans as of the end of the related Collection Period; (v) the amount of any Credit Enhancement Draw Amount, if any, for such Payment Date and the aggregate amount of prior draws thereunder not yet reimbursed; (vi) the number and aggregate Loan Balances of Home 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 end of the related Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will not be provided on the statements relating to the first Payment Date; (vii) the weighted average Loan Rate for the related Collection Period; (viii) the aggregate Liquidation Loss Amounts with respect to the 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; (ix) the aggregate Excess Loss Amounts with respect to the related Collection Period and the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Losses and Fraud Losses with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xi) the Note Balance of the Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xii) the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection Period; (xiii) the Outstanding Reserve Amount, the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following such Payment Date; (a) the number and principal amount of release agreements pursuant to Section 3.05(b)(iv) entered into during the calendar year and since the Closing Date, stated separately, for the Home 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 3.02(a)(v) entered into since the Closing Date; and (xv) the aggregate amount recovered during the related Collection Period consisting of all subsequent recoveries on any Home Loan that was 180 days or more delinquent. 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 Master 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 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 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 Master 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 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 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, 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 Issuer's written request, the Master Servicer shall promptly furnish 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. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home Loans.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master 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 or otherwise make available electronically to each 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 to the Notes and Certificates, to the extent applicable: (i) the aggregate amount of (a) Security Interest CollectionsCollections with respect to the Notes and the Certificates, (b) aggregate Security Principal Collections with respect to the Notes and the Certificates and (c) Substitution Adjustment AmountsSecurity Collections for the related Collection Period with respect to the Notes and the Certificates; (ii) the amount of such distribution as principal to the NoteholdersSecurityholders of the Notes and the Certificates applied to reduce the principal balance thereof and separately stating the portion thereof in respect of the Accelerated Principal Distribution Amount and the amount to be deposited in the Funding Account on such Payment Date; (iii) the amount of such distribution as interest to the Noteholders, Securityholders of the Notes and the Certificates allocable to interest and separately stating the portion thereof in respect of overdue accrued interest; (iv) the number and Pool Balance of the Home Loans as of the end of the related Collection Period; (v) the amount of any Credit Enhancement Draw Amount, if any, for such Payment Date and the aggregate amount of prior draws thereunder not yet reimbursed; (v) the aggregate Principal 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; (vi) the number and aggregate Loan Principal Balances of Home Mortgage Loans (a) as to which the Minimum Monthly Payment is Delinquent delinquent for 30-59 days, 60-89 days, 90-179 days and 90 180 or more days, respectively, respectively and (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 end of the related preceding Collection Period; PROVIDED, HOWEVER, that such information will not be provided on the statements relating to the first Payment Date; (vii) the weighted average Loan Weighted Average Net Mortgage Rate for the related Collection Period and the Weighted Average Net Mortgage Rate for (a) the ________ Loans, (b) the _______Loans and (c) the _________ Loans for the related Collection Period; (viii) the Special Capital Distribution Amount and the Required Special Capital Distribution Amount, in each case as the end of the related Collection Period; and (ix) the aggregate amount of Additional Loans acquired during the previous 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 any Liquidation remaining Carryover Loss Distribution Amounts Amount with respect to the NotesNotes and Certificates, respectively, and the aggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as dollars and as a percentage of the aggregate sum of (a) the Cut-off Off Date Loan Balance; Pool Balance and (ixb) the aggregate Excess Loss Amounts with respect amount by which the Pool Balance as of the latest date that the Additional Loans have been transferred to the related Collection Period and Depositor exceeds the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Losses and Fraud Losses with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to dateCut-Off Date Pool Balance; (xi) the Note Balance of any unpaid interest on the Notes and Certificates, respectively, after such Distribution Date; (xii) the Certificate aggregate Principal Balance of each Class of Notes and of the Certificates after giving effect to the distribution of principal on such Payment Date; (xii) the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection Period; (xiii) the Outstanding Reserve Amountrespective Security Percentage applicable to the Notes and Certificates, the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following after application of payments made on such Payment Date; (a) the number and principal amount of release agreements pursuant to Section 3.05(b)(iv) entered into during the calendar year and since the Closing Date, stated separately, for the Home 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 3.02(a)(v) entered into since the Closing Date; and (xvxiv) the aggregate amount recovered during distributed pursuant to Section 3.05(a)(xi) of the related Collection Period consisting of all subsequent recoveries Indenture on any Home Loan that was 180 days or more delinquentsuch 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, Certificate with a $1,000 denomination. (b) In addition, with respect to each Payment Date, on the Business Day following the related Determination Date, the Master 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 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 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 Master 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 the Business Day next succeeding each Determination Date, the Master Servicer shall furnish a written statement to the Depositor, the Owner Trustee, the Depositor, the Certificate Paying Agent and the Indenture Trustee setting forth (i) all the foregoing information, (ii) the aggregate amounts required to be withdrawn from the Custodial Collection Account and deposited into the Payment Account on the Business Day preceding the related Payment Date pursuant to Section 3.033.03 and (iii) the amounts (A) withdrawn from the Payment Account and deposited to the Funding Account pursuant to Section 8.02(b) of the Indenture and (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 Master 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 IssuerDepositor's written request, the Master Servicer shall promptly furnish information reasonably requested by the Issuer Depositor that is reasonably available to the Master Servicer to enable the Issuer Depositor to perform its federal and state income tax reporting obligations. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home Loans.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master 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 or otherwise make available electronically at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇ to each 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 to the Notes and Certificates, to the extent applicable: (i) the applicable Record Date, Determination Date and Payment Date; (ii) the aggregate amount of payments received with respect to the Mortgage Loans, including prepayment amounts; (iii) the Servicing Fee payable to the Servicer; (iv) the amount of any other fees or expenses paid, and the identity of the party receiving such fees or expenses; (v) the aggregate amount of (a) Interest Collections, (b) Principal Collections and Collections, (c) Substitution Adjustment AmountsAmounts and (d) Excess Spread, for the related Collection Period; (iivi) the amount paid as principal to the Noteholders; (vii) the amount paid as interest to the Noteholders and the amount of any Relief Act Shortfalls for the related Payment Date; (viii) the aggregate amount of interest remaining unpaid, if any, for each of the Notes, after giving effect to the payments made on such Payment Date; (ix) each Policy Draw Amount, if any, for such Payment Date, the aggregate amount of prior draws on the Policy thereunder not yet reimbursed the amount paid to the Credit Enhancer in reimbursement for prior draws; (x) the amount of such distribution as principal to the Noteholders; (iii) the amount of such distribution as and interest to the NoteholdersCertificateholders of the Certificates, separately stating the portion thereof which resulted in respect a reduction of overdue accrued interestthe Certificate Balance thereof; (ivxi) the number and Pool aggregate Principal Balance of the Home Mortgage Loans as of the end of the related Collection Period; (v) the amount of any Credit Enhancement Draw Amount, if any, for such Payment Date and the aggregate amount of prior draws thereunder not yet reimbursed; (vixii) the number and aggregate Loan Principal Balances of Home Mortgage Loans (a) as to which the Minimum Monthly Payment is Delinquent delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days, 150-179 days and 90 or more greater than 180 days, respectively, (b) that are foreclosed, the related Mortgaged Property of which has been foreclosed upon and (c) that have as to which the related Mortgaged Property has become REO, and (d) that have been finally liquidated due to being 180 days or more delinquentREO Property, in each case as of the end of the related Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will shall not be provided on the statements relating to the first Payment Date; (viixiii) the weighted average Loan number and aggregate Principal Balance of Mortgage Loans repurchased pursuant to Section 3.15(a) herein during the related Collection Period; (xiv) the Net WAC Rate for the related Collection Period; (viiixv) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount distributed as principal to Noteholders in respect of any Liquidation Loss Distribution Amounts with respect to the Notes, and the aggregate of the Liquidation Loss Amounts (minus any Subsequent Net Recovery Amounts) from all Collection Periods to date expressed as dollars dollar amount and as a percentage of the aggregate Cut-off Off Date Loan BalancePrincipal Balances of the Mortgage Loans; (ixxvi) the aggregate Excess Loss Amounts with respect to the related Collection Period and the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Losses and Fraud Losses with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xi) the Note Balance of the Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xiixvii) the aggregate Servicing Fees for balance of the related Collection Period Pre-Funding Account and Capitalized Interest Account, as of the aggregate amount end of Draws for the related Collection Period; (xiiixviii) the Outstanding Reserve AmountPercentage Interest applicable to each of the Securities, the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following after application of payments made on such Payment Date; (axix) the number and principal amount of release agreements pursuant to Section 3.05(b)(iv) entered into during the calendar year and since the Closing Date, stated separately, for the Home Loans and, the aggregate outstanding principal amount of such release agreements expressed Overcollateralization Amount as a percentage of the Pool Balance with information provided separately with respect to all Unsecured Loans and (b) end of the number and principal amount of Capitalization Workouts pursuant to Section 3.02(a)(v) entered into since the Closing Daterelated Collection Period; and (xvxx) the aggregate amount recovered Principal Balance of Subsequent Mortgage Loans transferred to the Trust Estate during the related Collection Period consisting of all subsequent recoveries on any Home Loan that was 180 days or more delinquentPeriod. In the case of information furnished pursuant to clauses (iivi) and (iiivii) 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, 25,000 denomination per Note and with respect a denomination equal to each Payment Datea 100% Percentage Interest per Certificate. If a Servicing Default shall occur, on the Business Day following the related Determination Date, the Master Servicer shall forward to the Credit Enhancer 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'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 or more accessible to the above parties and the Rating Agencies Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Indenture Trustee may require registration and the following information for each Capitalization Workout entered into during the related Collection Period:acceptance of a disclaimer in connection with access to its website. (ib) the original Home 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 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 Master 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 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 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 presumptively deemed to be presumptively correct for all purposes hereunder 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. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home Loans.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master 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 or otherwise make available electronically at www.jpmorgan.com/sfr to each CertificateholderCe▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇, Noteholder, the Credit Enhancer▇▇teholder, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement setting forth the following information (the "Servicing Certificate") as to the Notes and Certificates, to the extent applicable: (i) the aggregate amount of (a) Interest Collections, (b) Principal Collections and (c) Substitution Adjustment Amounts; (ii) the amount of such distribution as principal to the Noteholders; (iii) the amount of such distribution as interest to the Noteholders, separately stating the portion thereof in respect of overdue accrued interest; (iv) the number and Pool Balance of the Home Loans as of the end of the related Collection Period; (v) the amount of any Credit Enhancement Draw Amount, if any, for such Payment Date and the aggregate amount of prior draws thereunder not yet reimbursed; (vi) the number and aggregate Loan Balances of Home 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 end of the related Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will not be provided on the statements relating to the first Payment Date; (viivi) the weighted average Loan Rate for the related Collection Period; (viiivii) the aggregate Liquidation Loss Amounts with respect to the 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; (ixviii) the aggregate Excess Loss Amounts with respect to the related Collection Period and the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Losses and Fraud Losses with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xiix) the Note Balance of the Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xiix) the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection Period; (xiiixi) the Outstanding Reserve Amount, the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following such Payment Date; (a) the number and principal amount of release agreements pursuant to Section 3.05(b)(iv) entered into during the calendar year and since the Closing Date, stated separately, for the Home 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 3.02(a)(v) entered into since the Closing Date; and; (xvxiii) the aggregate amount recovered during the related Collection Period consisting of all subsequent recoveries on any Home Loan that was 180 days or more delinquent; (xiv) the amount, if any, to be paid by a Derivative Counterparty under a Derivative Contract; and (xv) whether or not a Servicing Trigger has occurred. 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 Master 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 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 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 Master 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 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 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, 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 Issuer's written request, the Master Servicer shall promptly furnish 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. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home Loans.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master 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 or otherwise make made available electronically on its website initially located at "www.jpmorgam.com/sfr," to each 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 to the Notes and Certificates, to the extent applicable: (i) for each of Loan Group I, Loan Group II-A and Loan Group II-B, the aggregate amount of (a) Interest Collections, (b) Principal Collections and (c) Substitution Adjustment AmountsAmounts for such Collection Period; (ii) the amount of such distribution paid as principal to the NoteholdersNoteholders of each Class of Notes; (iii) for each of Loan Group I, Loan Group II-A and Loan Group II-B, the amount of such distribution paid as interest to the NoteholdersNoteholders of each Class of Notes, separately stating the portion thereof in respect of overdue accrued interestPrepayment Interest Shortfalls, Relief Act Shortfalls, Group II-A Relief Act Shortfalls, Group II-B Relief Act Shortfalls, Group I Net WAC Cap Shortfalls, Group II-A Net WAC Cap Shortfalls or Group II-B Net WAC Cap Shortfalls, if any; (iv) for each of Loan Group I, Loan Group II-A and Loan Group II-B, the number aggregate Interest Distribution Amount remaining unpaid, if any, for each Class of Class I Notes and Pool Balance of Class II Notes, after giving effect to the Home Loans as of the end of the related Collection Periodpayments made on such Payment Date; (v) [Reserved]; (vi) the amount of any Credit Enhancement Draw Amount, if any, draw on the Group I Policy or the Group II Policy for such Payment Date Date, the amount paid to the Credit Enhancer in reimbursement for prior draws and the aggregate amount of prior draws thereunder under the Policies not yet reimbursed; (vivii) for each of Loan Group I, Loan Group II-A and Loan Group II-B, the amount of such distribution as principal and interest to the Certificateholders of the Certificates, separately stating the portion thereof which resulted in a reduction of the Certificate Loan Balance thereof; (viii) the aggregate Loan Balance of the Home Equity Loans in each Loan Group as of the end of the preceding Collection Period; (ix) the aggregate amount of Additional Balances on the Group II Loans created during the previous Collection Period conveyed to the Issuer; (x) for each of Loan Group I, Loan Group II-A and Loan Group II-B, the number and aggregate Loan Balances of Home Equity Loans (a) as to which the Minimum Monthly Payment is Delinquent for 30-59 days, 60-89 days and 90 or more days, respectively, (b) that are foreclosed, foreclosed and (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 end of the related Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will not be provided on the statements relating to the first Payment Date; (viixi) the weighted average Loan Note Rate for each Class of Class I Notes and Class II Notes, the Group I Net WAC Rate, the Group II-A Net WAC Rate and the Group II-B Net WAC Rate for the related Collection Period; (viiixii) for each of Loan Group I, Loan Group II-A and Loan Group II-B, the aggregate Liquidation Loss Amounts with respect to the 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 BalanceBalance for such Loan Group; (ixxiii) the aggregate Excess Loss Amounts with respect to the Group I Loans and the Group II Loans with respect to the related Collection Period and the aggregate of the Excess Loss Amounts with respect to the Group I Loans and the Group II Loans from all Collection Periods to date; (xxiv) for each Loan Group, the aggregate Special Hazard Losses, Fraud Losses, Bankruptcy Losses and Fraud Losses 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; (xixv) for each of Loan Group I, Loan Group II-A and Loan Group II-B, the Note Security Balance of the each related Class of Notes and the Certificate Principal Balance of the related Certificates after giving effect to the distribution of principal on such Payment Date; (xiixvi) the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection Period; (xiiixvii) the Outstanding Reserve number and amount of any increases in the Credit Limits of the Home Equity Loans during the related Collection Period; (xviii) the Group I Overcollateralization Amount, the Group II Overcollateralization Amount, the Undercollateralization Amount, the Special Hazard AmountAmount for each Loan Group, the Fraud Loss Amount for each Loan Group, the Bankruptcy Loss Amount for each Loan Group, the Group I Required Overcollateralization Amount immediately following such Payment Date and the Reserve Group II Required Overcollateralization Amount Target immediately following such Payment Date;; and (axix) the number and principal amount of release agreements pursuant to Section 3.05(b)(iv3.05(c) entered into during the calendar year and since the Closing Date, stated separately, for the Home Group II Loans and, the aggregate outstanding principal amount of such release agreements expressed as a percentage of the Pool Balance for Loan Group II with information provided separately with respect to all Unsecured Loans and (b2) 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 (xv) , stated separately for each of Loan Group I, Loan Group II-A and Loan Group II-B and the aggregate outstanding amount recovered during of the related Collection Period consisting Capitalization Workouts expressed as a percentage of all subsequent recoveries on any Home Loan that was 180 days or more delinquentthe respective Pool Balance. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Variable Funding Note, Term Note or Certificate, as applicable, with a $1,000 denomination. (b) In addition, with respect to each Payment Date. 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 and the Rating Agencies the following information for each Capitalization Workout entered into during the related Collection Period: (i) the original Home 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 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) abovenotice of such Amortization Event or Servicing Default, including, the type and date of appraisalnature thereof. The Such statement may be included in, or separate from, the regular statement to Securityholders. In addition, the Master 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 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 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, in the absence of obvious error, 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 Master Servicer to enable the Issuer to perform its federal and state income tax reporting obligations. . (b) The Master Servicer shall, on behalf of the Depositor and in respect of the Trust, sign 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. In connection with the preparation and filing of such periodic reports, the Indenture Trustee shall also forward timely provide to the Credit Enhancer and/or its designees Master Servicer (I) a list of Holders as shown on the Certificate Register and the Note Register as of the end of each calendar year, (II) copies of all pleadings, other legal process and any additional informationother documents relating to any claims, including without limitationcharges and complaints involving the Indenture Trustee, loss and delinquency information requested as indenture trustee hereunder, or the Trust that are received by the Credit EnhancerIndenture 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 Holders, other than those matters that have been submitted to a vote of the Holders 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 Holders as required pursuant to this Agreement. Neither the Master Servicer nor the Indenture Trustee shall have any liability with respect to the Home LoansMaster 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. Any Form 10-K filed with the Commission in connection with this clause (b) shall include a certification, signed by the senior officer in charge of the servicing functions of the Master Servicer, in the form attached as Exhibit E 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. 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 F. This Section 4.01(b) may be amended in accordance with this Agreement, but without the Rating Agency confirmations otherwise required by Section 8.01, and without the consent of the Holders.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master 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 or otherwise make made available electronically on its website initially located at "www.jpmorgan.com/sfr," to each Certificateholder, Noteholder, the Credit Enhancer▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇er, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement setting forth the following information (the "Servicing Certificate") as to the Notes and Certificates, to the extent applicable: (i) for each of Loan Group I and Loan Group II, the aggregate amount of (a) Interest Collections, (b) Principal Collections and (c) Substitution Adjustment AmountsAmounts for such Collection Period; (ii) the amount of such distribution paid as principal to the NoteholdersNoteholders of each Class of Notes; (iii) for each of Loan Group I and Loan Group II, the amount of such distribution paid as interest to the NoteholdersNoteholders of each Class of Notes, separately stating the portion thereof in respect of overdue accrued interestPrepayment Interest Shortfalls, Relief Act Shortfalls, Group I Net WAC Cap Shortfalls or Group II Net WAC Cap Shortfalls, if any; (iv) for each of Loan Group I and Loan Group II, the number aggregate Interest Distribution Amount remaining unpaid, if any, for each Class of Class I Notes and Pool Balance of Class II Notes, after giving effect to the Home Loans as of the end of the related Collection Periodpayments made on such Payment Date; (v) [Reserved]; (vi) the amount of any Credit Enhancement Draw Amount, if any, draw on the Group I Policy or the Group II Policy for such Payment Date Date, the amount paid to the Credit Enhancer in reimbursement for prior draws and the aggregate amount of prior draws thereunder under the Policies not yet reimbursed; (vivii) for each of Loan Group I and Loan Group II, the amount of such distribution as principal and interest to the Certificateholders of the Certificates, separately stating the portion thereof which resulted in a reduction of the Certificate Loan Balance thereof; (viii) the aggregate Loan Balance of the Home Equity Loans in each Loan Group as of the end of the preceding Collection Period; (ix) the aggregate amount of Additional Balances on the Group II Loans created during the previous Collection Period conveyed to the Issuer; (x) for each of Loan Group I and Loan Group II, the number and aggregate Loan Balances of Home Equity Loans (a) as to which the Minimum Monthly Payment is Delinquent for 30-59 days, 60-89 days and 90 or more days, respectively, (b) that are foreclosed, foreclosed and (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 end of the related Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will not be provided on the statements relating to the first Payment Date; (viixi) the weighted average Loan Note Rate for each Class of Class I Notes and Class II Notes, the Group I Net WAC Rate and the Group II Net WAC Rate for the related Collection Period; (viiixii) for each of Loan Group I and Loan Group II, the aggregate Liquidation Loss Amounts with respect to the 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 BalanceBalance for such Loan Group; (ixxiii) the aggregate Excess Loss Amounts with respect to the Group I Loans and the Group II Loans with respect to the related Collection Period and the aggregate of the Excess Loss Amounts with respect to the Group I Loans and the Group II Loans from all Collection Periods to date; (xxiv) for each Loan Group, the aggregate Special Hazard Bankruptcy Losses and Fraud Losses 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; (xixv) for each of Loan Group I and Loan Group II, the Note Security Balance of the each related Class of Notes and the Certificate Principal Balance of the related Certificates after giving effect to the distribution of principal on such Payment Date; (xiixvi) the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection Period; (xiiixvii) the Outstanding Reserve number and amount of any increases in the Credit Limits of the Home Equity Loans during the related Collection Period; (xviii) the Group I Overcollateralization Amount, the Special Hazard Group II Overcollateralization Amount, the Fraud Loss Undercollateralization Amount, the Group I Required Overcollateralization Amount immediately following such Payment Date and the Reserve Group II Required Overcollateralization Amount Target immediately following such Payment Date;; and (axix) the number and principal amount of release agreements pursuant to Section 3.05(b)(iv3.05(c) entered into during the calendar year and since the Closing Date, stated separately, for the Home Group II Loans and, the aggregate outstanding principal amount of such release agreements expressed as a percentage of the Pool Balance for Loan Group II with information provided separately with respect to all Unsecured Loans and (b2) 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 (xv) , stated separately for each of Loan Group I and Loan Group II and the aggregate outstanding amount recovered during of the related Collection Period consisting Capitalization Workouts expressed as a percentage of all subsequent recoveries on any Home Loan that was 180 days or more delinquentthe respective Pool Balance. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Variable Funding Note, Term Note or Certificate, as applicable, with a $1,000 denomination. (b) In addition, with respect to each Payment Date. 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 and the Rating Agencies the following information for each Capitalization Workout entered into during the related Collection Period: (i) the original Home 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 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) abovenotice of such Amortization Event or Servicing Default, including, the type and date of appraisalnature thereof. The Such statement may be included in, or separate from, the regular statement to Securityholders. In addition, the Master 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 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 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, in the absence of obvious error, 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 Master Servicer to enable the Issuer to perform its federal and state income tax reporting obligations. . (b) The Master Servicer shall, on behalf of the Depositor and in respect of the Trust, sign 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. In connection with the preparation and filing of such periodic reports, the Indenture Trustee shall also forward timely provide to the Credit Enhancer and/or its designees Master Servicer (I) a list of Holders as shown on the Certificate Register and the Note Register as of the end of each calendar year, (II) copies of all pleadings, other legal process and any additional informationother documents relating to any claims, including without limitationcharges and complaints involving the Indenture Trustee, loss and delinquency information requested as indenture trustee hereunder, or the Trust that are received by the Credit EnhancerIndenture 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 Holders, other than those matters that have been submitted to a vote of the Holders 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 Holders as required pursuant to this Agreement. Neither the Master Servicer nor the Indenture Trustee shall have any liability with respect to the Home LoansMaster 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. Any Form 10-K filed with the Commission in connection with this clause (b) shall include a certification, signed by the senior officer in charge of the servicing functions of the Master Servicer, in the form attached as Exhibit E 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. 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 F. This Section 4.01(b) may be amended in accordance with this Agreement, but without the Rating Agency confirmations otherwise required by Section 8.01, and without the consent of the Holders.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date (or with respect to any Payment Date for which a Credit Enhancement Draw Amount or Dissolution Draw will occur, no later than 12:00 P.M. New York City time, on the second Business Day prior to the applicable Payment Date), the Master 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 or otherwise make available electronically at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇ to each 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 to the Notes and Certificates, to the extent applicable: (i) the aggregate amount of (a) Interest Collections, (b) Principal Collections and (c) Substitution Adjustment Amounts; (ii) the amount of such distribution as principal to the Noteholders; (iii) the amount of such distribution as interest to the Noteholders, separately stating the portion thereof in respect of overdue accrued interest; (iv) the number and Pool Balance of the Home Loans as of the end of the related Collection Period; (v) the amount of any Credit Enhancement Draw AmountAmount or Dissolution Draw, if any, for such Payment Date and the aggregate amount of prior draws thereunder not yet reimbursed; (vi) the number and aggregate Loan Balances of Home 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 end of the related Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will not be provided on the statements relating to the first Payment Date; (vii) the weighted average Loan Rate for the related Collection Period; (viii) the aggregate Liquidation Loss Amounts with respect to the 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; (ix) the aggregate Excess Loss Amounts with respect to the related Collection Period and the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Losses and Fraud Losses with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xi) the Note Balance of the Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xiixi) the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection Period; (xiiixii) the Outstanding Reserve Amount, the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following such Payment Date; (xiii) (a) the number and principal amount of release agreements pursuant to Section 3.05(b)(iv) entered into during the calendar year and since the Closing Date, stated separately, for the Home 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 3.02(a)(v) entered into since the Closing Date; and; (xvxiv) the aggregate amount recovered during the related Collection Period consisting of all subsequent recoveries on any Home Loan that was 180 days or more delinquent; and (xv) the amount, if any, to be paid by a Derivative Counterparty under a Derivative Contract. 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 Master 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 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 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 Master 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 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 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, 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 Issuer's written request, the Master Servicer shall promptly furnish 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. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home Loans.

Statements to Securityholders. Section 4.02 (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master 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 or otherwise make available electronically to each 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 to the Notes and Certificates, to the extent applicable: (i) the aggregate amount of (a) Security Interest CollectionsCollections with respect to the Notes and the Certificates, (b) aggregate Security Principal Collections with respect to the Notes and the Certificates and (c) Substitution Adjustment AmountsSecurity Collections for the related Collection Period with respect to the Notes and the Certificates; (ii) the amount of such distribution as principal to the NoteholdersSecurityholders of the Notes and the Certificates applied to reduce the principal balance thereof and separately stating the portion thereof in respect of the Accelerated Principal Distribution Amount and the amount to be deposited in the Funding Account on such Payment Date; (iii) the amount of such distribution as interest to the Noteholders, Securityholders of the Notes and the Certificates allocable to interest and separately stating the portion thereof in respect of overdue accrued interest; (iv) the number and Pool Balance of the Home Loans as of the end of the related Collection Period; (v) the amount of any Credit Enhancement Draw Amount, if any, for such Payment Date and the aggregate amount of prior draws thereunder not yet reimbursed; (viv) the number and aggregate Loan Balances Principal Balance of Home Loans (a) as to which the Monthly Payment is Delinquent for 30-59 days, 60-89 days and 90 or more days, respectively________ Loans, (b) that are foreclosedthe ______ Loans, (c) that have become REOthe _________ Loans, as of the end of the preceding Collection Period and (d) that have been finally liquidated due to being 180 days or more delinquentall of the Mortgage Loans; (vi) the Weighted Average Net Mortgage Rate for the related Collection Period and the Weighted Average Net Mortgage Rate for the aggregate of the Stated Principal Balance of (A) all of the Mortgage Loans and (B) the Adjustable Rate Mortgage Loans, for the following Collection Period; (vii) the Special Capital Distribution Amount and the Required Special Capital Distribution Amount, in each case as of the end of the related Collection Period; PROVIDED, HOWEVER, that such information will not be provided on and (viii) the statements relating to aggregate amount of Additional Loans acquired during the first Payment Dateprevious Collection Period with amounts in respect of Net Principal Collections from the Funding Account; (vii) the weighted average Loan Rate for the related Collection Period; (viiiix) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount of any Liquidation remaining Carryover Loss Distribution Amounts Amount with respect to the NotesNotes and Certificates, respectively, and the aggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as dollars and as a percentage of the aggregate sum of (a) the Cut-off Off Date Loan Balance; Pool Balance and (ixb) the aggregate Excess Loss Amounts with respect amount by which the Pool Balance as of the latest date that the Additional Loans have been transferred to the related Collection Period and Depositor exceeds the aggregate of the Excess Loss Amounts from all Collection Periods to dateCut-Off Date Pool Balance; (x) any unpaid interest on the aggregate Special Hazard Losses Notes and Fraud Losses with respect to the related Collection Period and the aggregate of each of Certificates, respectively, after such losses from all Collection Periods to dateDistribution Date; (xi) the Note aggregate Principal Balance of the each Class of Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xii) the aggregate Servicing Fees for respective Security Percentage applicable to the related Collection Period Notes and the aggregate amount Certificates, after application of Draws for the related Collection Periodpayments made on such Payment Date; (xiii) the Outstanding Reserve Amount, amount distributed pursuant to Section 3.05(a)(xi) of the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following Indenture on such Payment Date; (axiv) the number applicable record dates, accrual periods, determination dates for calculating distributions and principal amount of release agreements pursuant to Section 3.05(b)(iv) entered into during the calendar year and since the Closing Date, stated separately, for the Home 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 3.02(a)(v) entered into since the Closing Date; andgeneral distribution dates; (xv) the total cash flows received and the general sources thereof; (xvi) the related amount of the Servicing Fees paid to or retained by the Master Servicer for the related Due Period; (xvii) the amount of any Net Swap Payment payable to the Derivative Administrator, any Net Swap Payment payable to the Swap Provider, any Swap Termination Payment payable to the Derivative Administrator and any Swap Termination Payment payable to the Swap Provider; (xviii) the Interest Carry Forward Amount and any Basis Risk Shortfall Carry Forward Amount for each Class of Certificates; (xix) the Certificate Principal Balance or Certificate Notional Amount, as applicable, of each Class after giving effect (i) to all distributions allocable to principal on such Distribution Date and (ii) the allocation of any Applied Realized Loss Amounts for such Distribution Date; (xx) the number and Stated Principal Balance of the Mortgage Loans in each Loan Group in respect of which (A) one Scheduled Payment is Delinquent, (B) two Scheduled Payments are Delinquent, (C) three or more Scheduled Payments are Delinquent and (D) foreclosure proceedings have been commenced, in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) Adjustable Rate Mortgage Loans, in each such Loan Group; provided, however, that such information will not be provided on the statements relating to the first Payment Date; (xxi) the amount of Advances included in the distribution on such Distribution Date (including the general purpose of such Advances), the aggregate amount recovered of unreimbursed Advances at the close of business on the Distribution Date, and the general source of funds for reimbursements; (xxii) the cumulative amount of Applied Realized Loss Amounts to date; (xxiii) 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; (xxiv) with respect to any Mortgage Loan that was liquidated during the preceding calendar month, the loan number and Stated Principal Balance of, and Realized Loss on, such Mortgage Loan as of the close of business on the Determination Date preceding such Distribution Date; (xxv) the total number and principal balance of any real estate owned or REO Properties as of the close of business on the Determination Date preceding such Distribution Date; (xxvi) the three month rolling average of the percent equivalent of a fraction, the numerator of which is the aggregate Stated Principal Balance of the Mortgage Loans that are 60 days or more delinquent or are in bankruptcy or foreclosure or are REO Properties, and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans in each case as of the close of business on the last day of the calendar month preceding such Distribution Date and separately identifying such information for the (1) first lien Mortgage Loans, and (2) Adjustable Rate Mortgage Loans; (xxvii) the Realized Losses during the related Collection Prepayment Period consisting and the cumulative Realized Losses through the end of all subsequent recoveries on the preceding month; (xxviii) whether a Trigger Event exists; (xxix) updated pool composition data including the following with respect to each Loan Group: average loan balance, weighted average mortgage rate, weighted average loan-to-value ratio at origination, weighted average FICO at origination weighted average remaining term; and [NOTE - Item 1121(a)(8) requires updated pool composition information, the foregoing is a suggestion of what to provide]; and (xxx) information about any Home Loan that was 180 days additions of, substitutions for or more delinquentremoval 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, Certificate with a $1,000 denomination. (b) In addition, with respect to each Payment Date, on the Business Day following the related Determination Date, the Master 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 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 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 Master 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 the Business Day next succeeding each Determination Date, the Master Servicer shall furnish a written statement to the Depositor, the Owner Trustee, the Depositor, the Certificate Paying Agent and the Indenture Trustee setting forth (i) all the foregoing information, (ii) the aggregate amounts required to be withdrawn from the Custodial Collection Account and deposited into the Payment Account on the Business Day preceding the related Payment Date pursuant to Section 3.033.03 and (iii) the amounts (A) withdrawn from the Payment Account and deposited to the Funding Account pursuant to Section 8.02(b) of the Indenture and (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 Master 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 IssuerDepositor's written request, the Master Servicer shall promptly furnish information reasonably requested by the Issuer Depositor that is reasonably available to the Master Servicer to enable the Issuer Depositor to perform its federal and state income tax reporting obligations. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home Loans.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master Servicer shall forward the Servicing Certificate and a computer file containing mutually agreed upon loan level information to the Indenture Trustee Trustee, and the Indenture Trustee Trustee, pursuant to Section 3.26 of the Indenture Indenture, shall forward or cause to be forwarded by mail or otherwise make the Servicing Certificate available electronically to each Certificateholder, each Noteholder, the Credit Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, with a statement setting copy to the Enhancer. The Servicing Certificate shall set forth the following information (the "Servicing Certificate") as to the Notes and Certificates, to the extent applicable: (i) the aggregate amount of (a) Interest Collections, (b) Principal Collections Collections, and (c) Substitution Adjustment AmountsAmounts for such Collection Period; (ii) the amount of such distribution as principal to the NoteholdersNoteholders of each Class of Notes; (iii) the amount of such distribution as interest to the NoteholdersNoteholders of each Class of Notes, separately stating the portion thereof amount thereof, if any, payable in respect of overdue accrued and unpaid interest, and the amount of any Interest Carry Forward Amount for the related Payment Date; (iv) the number and Pool Balance of the Home Loans as of the end of the related Collection Period; (v) the amount of any Credit Enhancement Draw Insured Amount, if any, for such Payment Date and the aggregate amount of prior draws on the Policy thereunder not yet reimbursed; (v) the amount of such distribution to the Certificateholders; (vi) the aggregate Principal Balance of the Mortgage Loans as of the end of the preceding Collection Period; (vii) the number and aggregate Loan Principal Balances of Home Mortgage Loans (a) as to which the Monthly Payment is Delinquent delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days and 90 or more 150-179 days, respectively, (b) that are foreclosed, the related Mortgaged Property of which has been foreclosed upon and (c) that have as to which the related Mortgaged Property has become REO, and (d) that have been finally liquidated due to being 180 days or more delinquentREO Property, in each case as of the end of the related preceding Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will shall not be provided on the statements relating to the first Payment Date; (vii) the weighted average Loan Rate for the related Collection Period; (viii) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount distributed as principal to Noteholders in respect of any Liquidation Loss Distribution Amounts with respect to the Notes, (minus any Subsequent Net Recovery Amounts) and the aggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as dollars dollar amount and as a percentage of the aggregate Cut-off Off Date Loan BalancePrincipal Balances of the Mortgage Loans; (ix) the aggregate Excess Loss Amounts with respect to the related Collection Period and the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Losses and Fraud Losses with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xi) the Note Balance of the each Class of Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (x) the amount on deposit in each of the Pre-Funding Account and Capitalized Interest Account as of the end 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 aggregate Servicing Fees Overcollateralization Amount as of the end of the preceding Collection Period; (xiii) the weighted average of the Net Loan Rates for the related Collection Period and the aggregate amount of Draws Mortgage Loans for the related Collection Period; (xiii) the Outstanding Reserve Amount, the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following such Payment Date; (axiv) the number and principal amount aggregate Principal Balance of release agreements Mortgage Loans repurchased pursuant to Section 3.05(b)(iv3.15 herein during such Collection Period; (xv) entered into during the calendar year and since the Closing DateNet Liquidation Proceeds, stated separatelynet of any related Foreclosure Profit, for such Collection Period; (xvi) the Home Loans andamount, if any, of the Hedge Payments for such Distribution Date and any shortfall in amounts previously required to be paid under the Hedge Agreements for prior Distribution Dates (xvii) the aggregate outstanding principal amount of Subsequent Net Recovery Amounts for 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 3.02(a)(v) entered into since the Closing DateCollection Period; and (xvxviii) the aggregate amount recovered during Principal Balance of Subsequent Mortgage Loans transferred to the related Collection Period consisting of all subsequent recoveries on any Home Loan that was 180 days or more delinquentTrust 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 CertificateNote, as applicable, with a $1,000 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 amount shall be expressed as an aggregate dollar amount with a $1,000,000 denomination. (b) In addition, with respect to each Payment Date. If a Servicing Default shall occur, on the Business Day following the related Determination Date, the Master Servicer shall forward to the Credit Enhancer Indenture Trustee, and the Rating Agencies the following information for each Capitalization Workout entered into during the related Collection Period: (i) the original Home 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 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) aboveIndenture Trustee, the type and date of appraisal. The Master 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 3.26 of the Indenture. Prior , shall forward or cause to the close of business on the Business Day next succeeding be forwarded by mail to each Determination DateCertificateholder, each Noteholder, the Master Servicer shall furnish a written statement to Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement to such effect, including the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and 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 nature of such amounts shallServicing Default. Such statement may be included in, 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 Issuer's written requestseparate from, the Master Servicer shall promptly furnish information reasonably requested by the Issuer that is reasonably available regular statement sent to the Master Servicer to enable the Issuer to perform its federal and state income tax reporting obligations. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home LoansSecurityholders.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master 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 or otherwise make available electronically to each 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 to the Notes and Certificates, to the extent applicable: (ia) for each of Loan Group I, Loan Group II-A and Loan Group II-B, the aggregate amount of (a) Interest Collections, (b) Principal Collections and (c) Substitution Adjustment AmountsAmounts for such Collection Period; (iib) the amount of such distribution paid as principal to the NoteholdersNoteholders of each Class of Notes; (iiic) for each of Loan Group I, Loan Group II-A and Loan Group II-B, the amount of such distribution paid as interest to the NoteholdersNoteholders of each Class of Notes, separately stating the portion thereof in respect of overdue accrued interestPrepayment Interest Shortfalls, Relief Act Shortfalls, Group II-A Relief Act Shortfalls, Group II-B Relief Act Shortfalls, Group I Net WAC Cap Shortfalls, Group II-A Net WAC Cap Shortfalls or Group II-B Net WAC Cap Shortfalls, if any; (ivd) for each of Loan Group I, Loan Group II-A and Loan Group II-B, the number aggregate Interest Distribution Amount remaining unpaid, if any, for each Class of Class I Notes and Pool Balance of Class II Notes, after giving effect to the Home Loans as of the end of the related Collection Periodpayments made on such Payment Date; (ve) [Reserved]; (f) with respect to Loan Group II, the amount of any Group II Credit Enhancement Draw AmountAmount or Dissolution Draw, if any, for such Payment Date Date, the amount paid to the Credit Enhancer in reimbursement for prior draws and the aggregate amount of prior draws thereunder under the Policy not yet reimbursed; (vig) for each of Loan Group I, Loan Group II-A and Loan Group II-B, the amount of such distribution as principal and interest to the Certificateholders of the Certificates, separately stating the portion thereof which resulted in a reduction of the Certificate Loan Balance thereof; (h) the aggregate Loan Balance of the Home Equity Loans in each Loan Group as of the end of the preceding Collection Period; (i) the aggregate amount of Additional Balances on the Group II Loans created during the previous Collection Period conveyed to the Issuer; (j) for each of Loan Group I, Loan Group II-A and Loan Group II-B, the number and aggregate Loan Balances of Home Equity Loans (a) as to which the Minimum Monthly Payment is Delinquent for 30-59 days, 60-89 days and 90 or more days, respectively, (b) that are foreclosed, foreclosed and (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 end of the related Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will not be provided on the statements relating to the first Payment Date; (viik) the weighted average Loan Note Rate for each Class of Class I Notes and Class II Notes, the Group I Net WAC Rate, the Group II-A Net WAC Rate and the Group II-B Net WAC Rate for the related Collection Period; (viiil) for each of Loan Group I, Loan Group II-A and Loan Group II-B, the aggregate Liquidation Loss Amounts with respect to the 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 BalanceBalance for such Loan Group; (ixm) the aggregate Excess Loss Amounts with respect to the Group II Loans with respect to the related Collection Period and the aggregate of the Excess Loss Amounts with respect to the Group II Loans from all Collection Periods to date; (xn) for each Loan Group, the aggregate Special Hazard Losses, Fraud Losses, Bankruptcy Losses and Fraud Losses 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; (xio) for each of Loan Group I, Loan Group II-A and Loan Group II-B, the Note Security Balance of the each related Class of Notes and the Certificate Principal Balance of the related Certificates after giving effect to the distribution of principal on such Payment Date; (xiip) the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection Period; (xiiiq) the Outstanding Reserve number and amount of any increases in the Credit Limits of the Home Equity Loans during the related Collection Period; (r) the Group I Overcollateralization Amount, the Group II Overcollateralization Amount, the Undercollateralization Amount, the Special Hazard AmountAmount for each Loan Group, the Fraud Loss Amount for each Loan Group, the Bankruptcy Loss Amount for each Loan Group, the Group I Required Overcollateralization Amount immediately following such Payment Date and the Reserve Group II Required Overcollateralization Amount Target immediately following such Payment Date;; and (as) (1) the number and principal amount of release agreements pursuant to Section 3.05(b)(iv3.05(c) entered into during the calendar year and since the Closing Date, stated separately, for the Home Group II Loans and, the aggregate outstanding principal amount of such release agreements expressed as a percentage of the Pool Balance for Loan Group II with information provided separately with respect to all Unsecured Loans and (b2) 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 (xv) , stated separately for each of Loan Group I, Loan Group II-A and Loan Group II-B and the aggregate outstanding amount recovered during of the related Collection Period consisting Capitalization Workouts expressed as a percentage of all subsequent recoveries on any Home Loan that was 180 days or more delinquentthe respective Pool Balance. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Variable Funding Note, Term 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 Master 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 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 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 Master 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 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 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, 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 Issuer's written request, the Master Servicer shall promptly furnish 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. . (b) The Master Servicer shall, on behalf of the Depositor and in respect of the Trust, sign 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. In connection with the preparation and filing of such periodic reports, the Indenture Trustee shall also forward timely provide to the Credit Enhancer and/or its designees Master Servicer (I) a list of Holders as shown on the Certificate Register and the Note Register as of the end of each calendar year, (II) copies of all pleadings, other legal process and any additional informationother documents relating to any claims, including without limitationcharges and complaints involving the Indenture Trustee, loss and delinquency information requested as indenture trustee hereunder, or the Trust that are received by the Credit EnhancerIndenture 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 Holders, other than those matters that have been submitted to a vote of the Holders 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 Holders as required pursuant to this Agreement. Neither the Master Servicer nor the Indenture Trustee shall have any liability with respect to the Home LoansMaster 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. Any Form 10-K filed with the Commission in connection with this clause (b) shall include a certification, signed by the senior officer in charge of the servicing functions of the Master Servicer, in the form attached as Exhibit E 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. 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 F. This Section 4.01(b) may be amended in accordance with this Agreement, but without the Rating Agency confirmations otherwise required by Section 8.01, and without the consent of the Holders.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master Servicer shall forward the Servicing Certificate and a computer file containing mutually agreed upon loan level information to the Indenture Trustee Trustee, and the Indenture Trustee Trustee, pursuant to Section 3.26 of the Indenture Indenture, shall forward or cause to be forwarded by mail or otherwise make the Servicing Certificate available electronically to each Certificateholder, each Noteholder, the Credit Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, with a statement setting copy to the Enhancer. The Servicing Certificate shall set forth the following information (the "Servicing Certificate") as to the Notes and Certificates, to the extent applicable: (i) the aggregate amount of (a) Interest Collections, (b) Principal Collections Collections, and (c) Substitution Adjustment AmountsAmounts for such Collection Period; (ii) the amount of such distribution as principal to the NoteholdersNoteholders of each Class of Notes; (iii) the amount of such distribution as interest to the NoteholdersNoteholders of each Class of Notes, separately stating the portion thereof amount thereof, if any, payable in respect of overdue accrued and unpaid interest, Interest Carry Forward Amount:, the amount of any accrued and unpaid interest for the related Payment Date and the amount of any Interest Carry Forward Amount for the related Payment Date; (iv) the number and Pool Balance of the Home Loans as of the end of the related Collection Period; (v) the amount of any Credit Enhancement Draw Insured Amount, if any, for such Payment Date and the aggregate amount of prior draws on the Policy thereunder not yet reimbursed; (v) the amount of such distribution to the Certificateholders; (vi) the aggregate Principal Balance of the Mortgage Loans as of the end of the preceding Collection Period; (vii) the number and aggregate Loan Principal Balances of Home Mortgage Loans (a) as to which the Monthly Payment is Delinquent delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days and 90 or more 150-179 days, respectively, (b) that are foreclosed, the related Mortgaged Property of which has been foreclosed upon and (c) that have as to which the related Mortgaged Property has become REO, and (d) that have been finally liquidated due to being 180 days or more delinquentREO Property, in each case as of the end of the related preceding Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will shall not be provided on the statements relating to the first Payment Date; (vii) the weighted average Loan Rate for the related Collection Period; (viii) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount distributed as principal to Noteholders in respect of any Liquidation Loss Distribution Amounts with respect to the Notes, (minus any Subsequent Net Recovery Amounts) and the aggregate of the Liquidation Loss Amounts from all Collection Periods to date expressed as dollars dollar amount and as a percentage of the aggregate Cut-off Off Date Loan BalancePrincipal Balances of the Mortgage Loans; (ix) the aggregate Excess Loss Amounts with respect to the related Collection Period and the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Losses and Fraud Losses with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xi) the Note Balance of the each Class of Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (x) the amount on deposit in each of the Pre-Funding Account and Capitalized Interest Account as of the end 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 aggregate Servicing Fees Overcollateralization Amount as of the end of the preceding Collection Period; (xiii) the weighted average of the Net Loan Rates for the related Collection Period and the aggregate amount of Draws Mortgage Loans for the related Collection Period; (xiii) the Outstanding Reserve Amount, the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following such Payment Date; (axiv) the number and principal amount aggregate Principal Balance of release agreements Mortgage Loans repurchased pursuant to Section 3.05(b)(iv3.15 herein during such Collection Period; (xv) entered into during the calendar year and since the Closing DateNet Liquidation Proceeds, stated separatelynet of any related Foreclosure Profit, for the Home Loans and, such Collection Period; (xvi) the aggregate outstanding principal amount of Subsequent Net Recovery Amounts for 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 3.02(a)(v) entered into since the Closing DateCollection Period; and (xvxvii) the aggregate amount recovered during Principal Balance of Subsequent Mortgage Loans transferred to the related Collection Period consisting of all subsequent recoveries on any Home Loan that was 180 days or more delinquentTrust 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 CertificateNote, as applicable, with a $1,000 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 amount shall be expressed as an aggregate dollar amount with a $1,000,000 denomination. (b) In addition, with respect to each Payment Date. If a Servicing Default shall occur, on the Business Day following the related Determination Date, the Master Servicer shall forward to the Credit Enhancer Indenture Trustee, and the Rating Agencies the following information for each Capitalization Workout entered into during the related Collection Period: (i) the original Home 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 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) aboveIndenture Trustee, the type and date of appraisal. The Master 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 3.26 of the Indenture. Prior , shall forward or cause to the close of business on the Business Day next succeeding be forwarded by mail to each Determination DateCertificateholder, each Noteholder, the Master Servicer shall furnish a written statement to Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement to such effect, including the Indenture Trustee setting forth the aggregate amounts required to be withdrawn from the Custodial Account and 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 nature of such amounts shallServicing Default. Such statement may be included in, 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 Issuer's written requestseparate from, the Master Servicer shall promptly furnish information reasonably requested by the Issuer that is reasonably available regular statement sent to the Master Servicer to enable the Issuer to perform its federal and state income tax reporting obligations. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home LoansSecurityholders.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master Servicer shall forward the Servicing Certificate and a computer file containing mutually agreed upon loan level information to the Indenture Trustee Trustee, and the Indenture Trustee Trustee, pursuant to Section 3.26 of the Indenture Indenture, shall forward or cause to be forwarded by mail or otherwise make such Servicing Certificate available electronically to each Certificateholder, each Noteholder, the Credit Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, with a statement setting copy to the Enhancer. The Servicing Certificate shall set forth the following information (the "Servicing Certificate") as to the Notes and Certificates, to the extent applicable: (i) the aggregate amount of (a) Interest Collections, (b) Principal Collections Collections, and (c) Substitution Adjustment AmountsAmounts for such Collection Period; (ii) the amount of such distribution as principal to the NoteholdersNoteholders of each Class of Notes; (iii) the amount of such distribution as interest to the NoteholdersNoteholders of each Class of Notes, separately stating the portion thereof amount thereof, if any, payable in respect of overdue accrued interestunpaid Interest Shortfalls, and the amount of any Interest Shortfalls for the related Payment Date; (iv) the number and Pool Balance of the Home Loans as of the end of the related Collection Period; (v) the amount of any Credit Enhancement Policy Draw Amount, if any, for such Payment Date and the aggregate amount of prior draws on the Policy thereunder not yet reimbursed; (v) the amount of such distribution to the Certificateholders; (vi) the aggregate Principal Balance of the Mortgage Loans as of the end of the preceding Collection Period; (vii) the number and aggregate Loan Principal Balances of Home Mortgage Loans (a) as to which the Monthly Payment is Delinquent delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days and 90 or more 150-179 days, respectively, (b) that are foreclosed, the related Mortgaged Property of which has been foreclosed upon and (c) that have as to which the related Mortgaged Property has become REO, and (d) that have been finally liquidated due to being 180 days or more delinquentREO Property, in each case as of the end of the related preceding Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will shall not be provided on the statements relating to the first Payment Date; (vii) the weighted average Loan Rate for the related Collection Period; (viii) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount distributed as principal to Noteholders in respect of any Liquidation Loss Distribution Amounts with respect to the Notes, and the aggregate of the Liquidation Loss Amounts (minus any Subsequent Net Recovery Amounts) from all Collection Periods to date expressed as dollars dollar amount and as a percentage of the aggregate Cut-off Off Date Loan BalancePrincipal Balances of the Mortgage Loans; (ix) the aggregate Excess Loss Amounts with respect to the related Collection Period and the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Losses and Fraud Losses with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xi) the Note Balance of the each Class of Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (x) during the Pre-Funding Period the amount on deposit in each of the Pre-Funding Account and Capitalized Interest Account as of the end 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 aggregate Servicing Fees Overcollateralization Amount as of the end of the preceding Collection Period; (xiii) the Weighted Average Net Loan Rate for the related Collection Period and the aggregate amount of Draws Mortgage Loans for the related Collection Period; (xiii) the Outstanding Reserve Amount, the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following such Payment Date; (axiv) the number and principal amount aggregate Principal Balance of release agreements Mortgage Loans repurchased pursuant to Section 3.05(b)(iv) entered into 3.15 herein during the calendar year and since the Closing Datesuch Collection Period, stated separately, for the Home 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 3.02(a)(v) entered into since the Closing Date; and (xv) the aggregate amount recovered during Principal Balance of Subsequent Mortgage Loans transferred to the related Collection Period consisting of all subsequent recoveries on any Home Loan that was 180 days or more delinquentTrust 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 CertificateNote, as applicable, with a $1,000 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 amount shall be expressed as an aggregate dollar amount with a $1,000,000 denomination. (b) In addition, with respect to each Payment Date. If a Servicing Default shall occur, on the Business Day following the related Determination Date, the Master Servicer shall forward to the Credit Enhancer 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 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 (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 ▇▇ ▇▇▇▇▇ ▇▇▇ ▇ebsite can be obtained by calling the Indenture Trustee's customer service desk at 301-815-6600. Parties that ▇▇▇ ▇▇▇▇▇▇ 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 Rating Agencies Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Indenture Trustee may require registration and the following information for each Capitalization Workout entered into during the related Collection Period:acceptance of a disclaimer in connection with access to its website. (ib) the original Home 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 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 Master 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 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 3.033.03 hereof. The determination by the Master Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be presumptively correct for all purposes hereunder 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. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home Loans.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master 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 or otherwise make available electronically at www.jpmorgan.com/sfr to each Certificateholder, Noteholder, the Credit Enhancer, the Depositor▇▇▇▇▇itor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, a statement setting forth the following information (the "Servicing Certificate") as to the Notes and Certificates, to the extent applicable: (i) the applicable Record Date, Determination Date and Payment Date; (ii) the aggregate amount of payments received with respect to the Mortgage Loans, including prepayment amounts; (iii) the Servicing Fee payable to the Servicer; (iv) the amount of any other fees or expenses paid, and the identity of the party receiving such fees or expenses; (v) the aggregate amount of (a) Interest Collections, (b) Principal Collections and Collections, (c) Substitution Adjustment AmountsAmounts and (d) Excess Spread, for the related Collection Period; (iivi) the amount paid as principal to the Noteholders; (vii) the amount paid as interest to the Noteholders and the amount of any Relief Act Shortfalls for the related Payment Date; (viii) the aggregate amount of interest remaining unpaid, if any, for each of the Notes, after giving effect to the payments made on such Payment Date; (ix) each Policy Draw Amount, if any, for such Payment Date, the aggregate amount of prior draws on the Policy thereunder not yet reimbursed the amount paid to the Credit Enhancer in reimbursement for prior draws; (x) the amount of such distribution as principal to the Noteholders; (iii) the amount of such distribution as and interest to the NoteholdersCertificateholders of the Certificates, separately stating the portion thereof which resulted in respect a reduction of overdue accrued interestthe Certificate Balance thereof; (ivxi) the number and Pool aggregate Principal Balance of the Home Mortgage Loans as of the end of the related Collection Period; (v) the amount of any Credit Enhancement Draw Amount, if any, for such Payment Date and the aggregate amount of prior draws thereunder not yet reimbursed; (vixii) the number and aggregate Loan Principal Balances of Home Mortgage Loans (a) as to which the Minimum Monthly Payment is Delinquent delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days, 150-179 days and 90 or more greater than 180 days, respectively, (b) that are foreclosed, the related Mortgaged Property of which has been foreclosed upon and (c) that have as to which the related Mortgaged Property has become REO, and (d) that have been finally liquidated due to being 180 days or more delinquentREO Property, in each case as of the end of the related Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will shall not be provided on the statements relating to the first Payment Date; (viixiii) the weighted average Loan number and aggregate Principal Balance of Mortgage Loans repurchased pursuant to Section 3.15(a) herein during the related Collection Period; (xiv) the Net WAC Rate for the related Collection Period; (viiixv) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount distributed as principal to Noteholders in respect of any Liquidation Loss Distribution Amounts with respect to the Notes, and the aggregate of the Liquidation Loss Amounts (minus any Subsequent Net Recovery Amounts) from all Collection Periods to date expressed as dollars dollar amount and as a percentage of the aggregate Cut-off Off Date Loan BalancePrincipal Balances of the Mortgage Loans; (ixxvi) the aggregate Excess Loss Amounts with respect to the related Collection Period and the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Losses and Fraud Losses with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xi) the Note Balance of the Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xiixvii) the aggregate Servicing Fees for balance of the related Collection Period Pre-Funding Account and Capitalized Interest Account, as of the aggregate amount end of Draws for the related Collection Period; (xiiixviii) the Outstanding Reserve AmountPercentage Interest applicable to each of the Securities, the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following after application of payments made on such Payment Date; (axix) the number and principal amount of release agreements pursuant to Section 3.05(b)(iv) entered into during the calendar year and since the Closing Date, stated separately, for the Home Loans and, the aggregate outstanding principal amount of such release agreements expressed Overcollateralization Amount as a percentage of the Pool Balance with information provided separately with respect to all Unsecured Loans and (b) end of the number and principal amount of Capitalization Workouts pursuant to Section 3.02(a)(v) entered into since the Closing Daterelated Collection Period; and (xvxx) the aggregate amount recovered Principal Balance of Subsequent Mortgage Loans transferred to the Trust Estate during the related Collection Period consisting of all subsequent recoveries on any Home Loan that was 180 days or more delinquentPeriod. In the case of information furnished pursuant to clauses (iivi) and (iiivii) 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, 25,000 denomination per Note and with respect a denomination equal to each Payment Datea 100% Percentage Interest per Certificate. If a Servicing Default shall occur, on the Business Day following the related Determination Date, the Master Servicer shall forward to the Credit Enhancer 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's internet website. The Indenture Trustee's internet website shall initially be located at "www.jpmorgan.com/sfr." Assistance in using the website can be obtained by ▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇ure Trustee's customer service desk at (877) 722-1095. Parties that are unable to use the above distribution options ▇▇▇ ▇▇▇▇▇▇▇d 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 Rating Agencies Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Indenture Trustee may require registration and the following information for each Capitalization Workout entered into during the related Collection Period:acceptance of a disclaimer in connection with access to its website. (ib) the original Home 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 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 Master 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 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 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 presumptively deemed to be presumptively correct for all purposes hereunder 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. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home Loans.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master 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 or otherwise make available electronically at w▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇ to each 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 to the Notes and Certificates, to the extent applicable: (i) the aggregate amount of (a) Interest Collections, (b) Principal Collections and (c) Substitution Adjustment Amounts; (ii) the amount of such distribution as principal to the Noteholders; (iii) the amount of such distribution as interest to the Noteholders, separately stating the portion thereof in respect of overdue accrued interest; (iv) the number and Pool Balance of the Home Loans as of the end of the related Collection Period; (v) the amount of any Credit Enhancement Draw Amount, if any, for such Payment Date and the aggregate amount of prior draws thereunder not yet reimbursed; (vi) the number and aggregate Loan Balances of Home 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 end of the related Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will not be provided on the statements relating to the first Payment Date; (viivi) the weighted average Loan Rate for the related Collection Period; (viiivii) the aggregate Liquidation Loss Amounts with respect to the 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; (ixviii) the aggregate Excess Loss Amounts with respect to the related Collection Period and the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Losses and Fraud Losses with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xiix) the Note Balance of the Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xiix) the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection Period; (xiiixi) the Outstanding Reserve Amount, the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following such Payment Date; (a) the number and principal amount of release agreements pursuant to Section 3.05(b)(iv) entered into during the calendar year and since the Closing Date, stated separately, for the Home 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 3.02(a)(v) entered into since the Closing Date; and; (xvxiii) the aggregate amount recovered during the related Collection Period consisting of all subsequent recoveries on any Home Loan that was 180 days or more delinquent; (xiv) the amount, if any, to be paid by a Derivative Counterparty under a Derivative Contract; and (xv) whether or not a Servicing Trigger has occurred. 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 Master 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 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 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 Master 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 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 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, 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 Issuer's written request, the Master Servicer shall promptly furnish 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. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home Loans.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date (or with respect to any Payment Date for which a Credit Enhancement Draw Amount or Dissolution Draw will occur, no later than 12:00 P.M. New York City time, on the second Business Day prior to the applicable Payment Date), the Master 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 or otherwise make available electronically at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇▇▇▇ to each 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 to the Notes and Certificates, to the extent applicable: (i) the aggregate amount of (a) Interest Collections, (b) Principal Collections and (c) Substitution Adjustment Amounts; (ii) the amount of such distribution as principal to the Noteholders; (iii) the amount of such distribution as interest to the Noteholders, separately stating the portion thereof in respect of overdue accrued interest; (iv) the number and Pool Balance of the Home Loans as of the end of the related Collection Period; (v) the amount of any Credit Enhancement Draw AmountAmount or Dissolution Draw, if any, for such Payment Date and the aggregate amount of prior draws thereunder not yet reimbursed; (vi) the number and aggregate Loan Balances of Home 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 end of the related Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will not be provided on the statements relating to the first Payment Date; (vii) the weighted average Loan Rate for the related Collection Period; (viii) the aggregate Liquidation Loss Amounts with respect to the 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; (ix) the aggregate Excess Loss Amounts with respect to the related Collection Period and the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Losses and Fraud Losses with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xi) the Note Balance of the Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xii) the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection Period; (xiii) the Outstanding Reserve Amount, the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following such Payment Date; (a) the number and principal amount of release agreements pursuant to Section 3.05(b)(iv) entered into during the calendar year and since the Closing Date, stated separately, for the Home 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 3.02(a)(v) entered into since the Closing Date; and (xv) the aggregate amount recovered during the related Collection Period consisting of all subsequent recoveries on any Home Loan that was 180 days or more delinquent. 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 Master 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 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 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 Master 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 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 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, 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 Issuer's written request, the Master Servicer shall promptly furnish 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. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home Loans.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master 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 or otherwise make made available electronically on its website initially located at "▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇," to each 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 to the Notes and Certificates, to the extent applicable: (i) for each of Loan Group I and Loan Group II, the aggregate amount of (a) Interest Collections, (b) Principal Collections and (c) Substitution Adjustment AmountsAmounts for such Collection Period; (ii) the amount of such distribution paid as principal to the NoteholdersNoteholders of each Class of Notes; (iii) for each of Loan Group I and Loan Group II, the amount of such distribution paid as interest to the NoteholdersNoteholders of each Class of Notes, separately stating the portion thereof in respect of overdue accrued interestPrepayment Interest Shortfalls, Relief Act Shortfalls, Group I Net WAC Cap Shortfalls or Group II Net WAC Cap Shortfalls, if any; (iv) for each of Loan Group I and Loan Group II, the number aggregate Interest Distribution Amount remaining unpaid, if any, for each Class of Class I Notes and Pool Balance of Class II Notes, after giving effect to the Home Loans as of the end of the related Collection Periodpayments made on such Payment Date; (v) [Reserved]; (vi) the amount of any Credit Enhancement Draw Amount, if any, draw on the Group I Policy or the Group II Policy for such Payment Date Date, the amount paid to the Credit Enhancer in reimbursement for prior draws and the aggregate amount of prior draws thereunder under the Policies not yet reimbursed; (vivii) for each of Loan Group I and Loan Group II, the amount of such distribution as principal and interest to the Certificateholders of the Certificates, separately stating the portion thereof which resulted in a reduction of the Certificate Loan Balance thereof; (viii) the aggregate Loan Balance of the Home Equity Loans in each Loan Group as of the end of the preceding Collection Period; (ix) the aggregate amount of Additional Balances on the Group II Loans created during the previous Collection Period conveyed to the Issuer; (x) for each of Loan Group I and Loan Group II, the number and aggregate Loan Balances of Home Equity Loans (a) as to which the Minimum Monthly Payment is Delinquent for 30-59 days, 60-89 days and 90 or more days, respectively, (b) that are foreclosed, foreclosed and (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 end of the related Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will not be provided on the statements relating to the first Payment Date; (viixi) the weighted average Loan Note Rate for each Class of Class I Notes and Class II Notes, the Group I Net WAC Rate and the Group II Net WAC Rate for the related Collection Period; (viiixii) for each of Loan Group I and Loan Group II, the aggregate Liquidation Loss Amounts with respect to the 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 BalanceBalance for such Loan Group; (ixxiii) the aggregate Excess Loss Amounts with respect to the Group I Loans and the Group II Loans with respect to the related Collection Period and the aggregate of the Excess Loss Amounts with respect to the Group I Loans and the Group II Loans from all Collection Periods to date; (xxiv) for each Loan Group, the aggregate Special Hazard Bankruptcy Losses and Fraud Losses 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; (xixv) for each of Loan Group I and Loan Group II, the Note Security Balance of the each related Class of Notes and the Certificate Principal Balance of the related Certificates after giving effect to the distribution of principal on such Payment Date; (xiixvi) the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection Period; (xiiixvii) the Outstanding Reserve number and amount of any increases in the Credit Limits of the Home Equity Loans during the related Collection Period; (xviii) the Group I Overcollateralization Amount, the Special Hazard Group II Overcollateralization Amount, the Fraud Loss Undercollateralization Amount, the Group I Required Overcollateralization Amount immediately following such Payment Date and the Reserve Group II Required Overcollateralization Amount Target immediately following such Payment Date;; and (axix) the number and principal amount of release agreements pursuant to Section 3.05(b)(iv3.05(c) entered into during the calendar year and since the Closing Date, stated separately, for the Home Group II Loans and, the aggregate outstanding principal amount of such release agreements expressed as a percentage of the Pool Balance for Loan Group II with information provided separately with respect to all Unsecured Loans and (b2) 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 (xv) , stated separately for each of Loan Group I and Loan Group II and the aggregate outstanding amount recovered during of the related Collection Period consisting Capitalization Workouts expressed as a percentage of all subsequent recoveries on any Home Loan that was 180 days or more delinquentthe respective Pool Balance. In the case of information furnished pursuant to clauses (ii) and (iii) above, the amounts shall be expressed as an aggregate dollar amount per Variable Funding Note, Term Note or Certificate, as applicable, with a $1,000 denomination. (b) In addition, with respect to each Payment Date. 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 and the Rating Agencies the following information for each Capitalization Workout entered into during the related Collection Period: (i) the original Home 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 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) abovenotice of such Amortization Event or Servicing Default, including, the type and date of appraisalnature thereof. The Such statement may be included in, or separate from, the regular statement to Securityholders. In addition, the Master 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 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 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, in the absence of obvious error, 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 Master Servicer to enable the Issuer to perform its federal and state income tax reporting obligations. . (b) The Master Servicer shall, on behalf of the Depositor and in respect of the Trust, sign 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. In connection with the preparation and filing of such periodic reports, the Indenture Trustee shall also forward timely provide to the Credit Enhancer and/or its designees Master Servicer (I) a list of Holders as shown on the Certificate Register and the Note Register as of the end of each calendar year, (II) copies of all pleadings, other legal process and any additional informationother documents relating to any claims, including without limitationcharges and complaints involving the Indenture Trustee, loss and delinquency information requested as indenture trustee hereunder, or the Trust that are received by the Credit EnhancerIndenture 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 Holders, other than those matters that have been submitted to a vote of the Holders 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 Holders as required pursuant to this Agreement. Neither the Master Servicer nor the Indenture Trustee shall have any liability with respect to the Home LoansMaster 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. Any Form 10-K filed with the Commission in connection with this clause (b) shall include a certification, signed by the senior officer in charge of the servicing functions of the Master Servicer, in the form attached as Exhibit E 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. 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 F. This Section 4.01(b) may be amended in accordance with this Agreement, but without the Rating Agency confirmations otherwise required by Section 8.01, and without the consent of the Holders.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date (or with respect to any Payment Date for which a Credit Enhancement Draw Amount or Dissolution Draw will occur, no later than 12:00 P.M. New York City time, on the second Business Day prior to the applicable Payment Date), the Master 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 or otherwise make available electronically at w▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇ to each 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 to the Notes and Certificates, to the extent applicable: (i) the aggregate amount of (a) Interest Collections, (b) Principal Collections and (c) Substitution Adjustment Amounts; (ii) the amount of such distribution as principal to the Noteholders; (iii) the amount of such distribution as interest to the Noteholders, separately stating the portion thereof in respect of overdue accrued interest; (iv) the number and Pool Balance of the Home Loans as of the end of the related Collection Period; (v) the amount of any Credit Enhancement Draw AmountAmount or Dissolution Draw, if any, for such Payment Date and the aggregate amount of prior draws thereunder not yet reimbursed; (vi) the number and aggregate Loan Balances of Home 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 end of the related Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will not be provided on the statements relating to the first Payment Date; (vii) the weighted average Loan Rate for the related Collection Period; (viii) the aggregate Liquidation Loss Amounts with respect to the 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; (ix) the aggregate Excess Loss Amounts with respect to the related Collection Period and the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Losses and Fraud Losses with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xi) the Note Balance of the Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xiixi) the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection Period; (xiiixii) the Outstanding Reserve Amount, the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following such Payment Date; (xiii) (a) the number and principal amount of release agreements pursuant to Section 3.05(b)(iv) entered into during the calendar year and since the Closing Date, stated separately, for the Home 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 3.02(a)(v) entered into since the Closing Date; and; (xvxiv) the aggregate amount recovered during the related Collection Period consisting of all subsequent recoveries on any Home Loan that was 180 days or more delinquent; (xv) the amount, if any, to be paid by a Derivative Counterparty under a Derivative Contract; and (xvi) whether or not a Servicing Trigger has occurred. 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 Master 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 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 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 Master 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 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 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, 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 Issuer's written request, the Master Servicer shall promptly furnish 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. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home Loans.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date (or with respect to any Payment Date for which a Credit Enhancement Draw Amount or Dissolution Draw will occur, no later than 12:00 P.M. New York City time, on the second Business Day prior to the applicable Payment Date), the Master 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 or otherwise make available electronically at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇ to each 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 to the Notes and Certificates, to the extent applicable: (i) the aggregate amount of (a) Interest Collections, (b) Principal Collections and (c) Substitution Adjustment Amounts; (ii) the amount of such distribution as principal to the Noteholders; (iii) the amount of such distribution as interest to the Noteholders, separately stating the portion thereof in respect of overdue accrued interest; (iv) the number and Pool Balance of the Home Loans as of the end of the related Collection Period; (v) the amount of any Credit Enhancement Draw AmountAmount or Dissolution Draw, if any, for such Payment Date and the aggregate amount of prior draws thereunder not yet reimbursed; (vi) the number and aggregate Loan Balances of Home 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 end of the related Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will not be provided on the statements relating to the first Payment Date; (vii) the weighted average Loan Rate for the related Collection Period; (viii) the aggregate Liquidation Loss Amounts with respect to the 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; (ix) the aggregate Excess Loss Amounts with respect to the related Collection Period and the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Losses and Fraud Losses with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xi) the Note Balance of the Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xiixi) the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection Period; ; (xiiixii) the Outstanding Reserve Amount, the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following such Payment Date; (a) the number and principal amount of release agreements pursuant to Section 3.05(b)(iv) entered into during the calendar year and since the Closing Date, stated separately, for the Home 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 3.02(a)(v) entered into since the Closing Date; and (xv) the aggregate amount recovered during the related Collection Period consisting of all subsequent recoveries on any Home Loan that was 180 days or more delinquent. 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 Master 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 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 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 Master 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 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 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, 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 Issuer's written request, the Master Servicer shall promptly furnish 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. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home Loans.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date (or with respect to any Payment Date for which a Credit Enhancement Draw Amount or Dissolution Draw will occur, no later than 12:00 P.M. New York City time, on the second Business Day prior to the applicable Payment Date), the Master 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 or otherwise make available electronically at ▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇ to each 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 to the Notes and Certificates, to the extent applicable: (i) the aggregate amount of (a) Interest Collections, (b) Principal Collections and (c) Substitution Adjustment Amounts; (ii) the amount of such distribution as principal to the Noteholders; (iii) the amount of such distribution as interest to the Noteholders, separately stating the portion thereof in respect of overdue accrued interest; (iv) the number and Pool Balance of the Home Loans as of the end of the related Collection Period; (v) the amount of any Credit Enhancement Draw AmountAmount or Dissolution Draw, if any, for such Payment Date and the aggregate amount of prior draws thereunder not yet reimbursed; (vi) the number and aggregate Loan Balances of Home 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 end of the related Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will not be provided on the statements relating to the first Payment Date; (vii) the weighted average Loan Rate for the related Collection Period; (viii) the aggregate Liquidation Loss Amounts with respect to the 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; (ix) the aggregate Excess Loss Amounts with respect to the related Collection Period and the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Losses and Fraud Losses with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xi) the Note Balance of the Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xiixi) the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection Period; (xiiixii) the Outstanding Reserve Amount, the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following such Payment Date; (a) the number and principal amount of release agreements pursuant to Section 3.05(b)(iv) entered into during the calendar year and since the Closing Date, stated separately, for the Home 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 3.02(a)(v) entered into since the Closing Date; and; (xvxiv) the aggregate amount recovered during the related Collection Period consisting of all subsequent recoveries on any Home Loan that was 180 days or more delinquent; (xv) the amount, if any, to be paid by a Derivative Counterparty under a Derivative Contract; and (xvi) whether or not a Servicing Trigger has occurred. 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 Master 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 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 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 Master 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 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 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, 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 Issuer's written request, the Master Servicer shall promptly furnish 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. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home Loans.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master Servicer shall forward the Servicing Certificate and a computer file containing mutually agreed upon loan level information to the Indenture Trustee Trustee, and the Indenture Trustee Trustee, pursuant to Section 3.26 of the Indenture Indenture, shall forward or cause to be forwarded by mail or otherwise make such Servicing Certificate available electronically to each Certificateholder, each Noteholder, the Credit Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, with a statement setting copy to the Enhancer. The Servicing Certificate shall set forth the following information (the "Servicing Certificate") as to the Notes and Certificates, to the extent applicable: (i) the aggregate amount of (a) Interest Collections, (b) Principal Collections Collections, and (c) Substitution Adjustment AmountsAmounts for such Collection Period; (ii) the amount of such distribution as principal to the NoteholdersNoteholders of each Class of Notes; (iii) the amount of such distribution as interest to the NoteholdersNoteholders of each Class of Notes, separately stating the portion thereof amount thereof, if any, payable in respect of overdue accrued interestunpaid Interest Shortfalls, and the amount of any Interest Shortfalls for the related Payment Date; (iv) the number and Pool Balance of the Home Loans as of the end of the related Collection Period; (v) the amount of any Credit Enhancement Policy Draw Amount, if any, for such Payment Date and the aggregate amount of prior draws on the Policy thereunder not yet reimbursed; (v) the amount of such distribution to the Certificateholders; (vi) the aggregate Principal Balance of the Mortgage Loans as of the end of the preceding Collection Period; (vii) the number and aggregate Loan Principal Balances of Home Mortgage Loans (a) as to which the Monthly Payment is Delinquent delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days and 90 or more 150-179 days, respectively, (b) that are foreclosed, the related Mortgaged Property of which has been foreclosed upon and (c) that have as to which the related Mortgaged Property has become REO, and (d) that have been finally liquidated due to being 180 days or more delinquentREO Property, in each case as of the end of the related preceding Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will shall not be provided on the statements relating to the first Payment Date; (vii) the weighted average Loan Rate for the related Collection Period; (viii) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount distributed as principal to Noteholders in respect of any Liquidation Loss Distribution Amounts with respect to the Notes, and the aggregate of the Liquidation Loss Amounts (minus any Subsequent Net Recovery Amounts) from all Collection Periods to date expressed as dollars dollar amount and as a percentage of the aggregate Cut-off Off Date Loan BalancePrincipal Balances of the Mortgage Loans; (ix) the aggregate Excess Loss Amounts with respect to the related Collection Period and the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Losses and Fraud Losses with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xi) the Note Balance of the each Class of Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xiix) the aggregate Servicing Fees for Percentage Interest applicable to each of the related Collection Period and the aggregate amount Securities, after application of Draws for the related Collection Period; (xiii) the Outstanding Reserve Amount, the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following payments made on such Payment Date; (axi) the Overcollateralization Amount as of the end of the preceding Collection Period; (xii) the Weighted Average Net Loan Rate for the Mortgage Loans for the related Collection Period; and (xiii) the number and principal amount aggregate Principal Balance of release agreements Mortgage Loans repurchased pursuant to Section 3.05(b)(iv) entered into 3.15 herein during the calendar year and since the Closing Date, stated separately, for the Home 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 3.02(a)(v) entered into since the Closing Date; and (xv) the aggregate amount recovered during the related Collection Period consisting of all subsequent recoveries on any Home Loan that was 180 days or more delinquentPeriod. 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 CertificateNote, as applicable, with a $1,000 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. (b) In addition, with respect to each Payment Date. If a Servicing Default shall occur, on the Business Day following the related Determination Date, the Master Servicer shall forward to the Credit Enhancer 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 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 (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 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 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 Rating Agencies Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Indenture Trustee may require registration and the following information for each Capitalization Workout entered into during the related Collection Period:acceptance of a disclaimer in connection with access to its website. (ib) the original Home 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 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 Master 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 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 3.033.03 hereof. The determination by the Master Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be presumptively correct for all purposes hereunder 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 ’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, sign 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. In connection with the preparation and filing of such periodic reports, the Indenture Trustee shall also forward timely provide to the Credit Enhancer and/or its designees Master Servicer (I) a list of Noteholders as shown on the Note Register as of the end of each calendar year, (II) copies of all pleadings, other legal process and any additional informationother documents relating to any claims, including without limitationcharges or complaints involving the Indenture Trustee, loss and delinquency information requested as trustee, or the Trust Estate that are received by the Credit EnhancerIndenture 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 Noteholders or Certificateholders, other than those matters that have been submitted to a vote of the Noteholders or Certificateholders 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 Noteholders or Certificateholders as required pursuant to the Indenture or Trust Agreement, as applicable. Neither the Master Servicer nor the Indenture Trustee shall have any liability with respect to Master Servicer’s failure to properly prepare or file such periodic reports resulting from or relating to the Home LoansMaster Servicer’s inability or failure to obtain any information not resulting from the Master Servicer’s own negligence or willful misconduct. Any Form 10-K filed with the Commission in connection with this Section 4.01(c) shall include 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 Rule 13a-14 and 15d-14 under the Exchange Act and any additional directives of the Commission. 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.

Statements to Securityholders. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master Servicer shall forward the Servicing Certificate to the Indenture Trustee Trustee, and the Indenture Trustee Trustee, pursuant to Section 3.26 of the Indenture Indenture, shall forward or cause to be forwarded by mail or otherwise make such Servicing Certificate available electronically to each Certificateholder, each Noteholder, the Credit Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating Agency, with a statement setting copy to the Enhancer. The Servicing Certificate shall set forth the following information (the "Servicing Certificate") as to the Notes and Certificates, to the extent applicable: (i) the aggregate amount of (a) Interest Collections, (b) Principal Collections and (and, with respect to any Payment Date relating to the Managed Amortization Period, Net Principal Collections), (c) Substitution Adjustment AmountsAmounts and (d) Excess Spread, for the related Collection Period; (ii) the amount of such distribution as principal to the NoteholdersNoteholders of each Class of Notes; (iii) the amount of such distribution as interest to the NoteholdersNoteholders of each Class of Notes, separately stating the portion thereof amount thereof, if any, payable in respect of overdue accrued interestunpaid Interest Shortfalls, and the amount of any Interest Shortfalls and Relief Act Shortfalls for the related Payment Date; (iv) the number and Pool Balance of the Home Loans as of the end of the related Collection Period; (v) the amount of any Credit Enhancement each Policy Draw Amount, if any, for such Payment Date and the aggregate amount of prior draws on the Policy thereunder not yet reimbursed; (v) the amount of such distribution to the Certificateholders; (vi) the amount of any Additional Balance Increase Amount payable to the Certificateholders; (vii) the aggregate Principal Balance of the Mortgage Loans as of the end of the related Collection Period; (viii) the number and aggregate Loan Principal Balances of Home Mortgage Loans (a) as to which the Minimum Monthly Payment is Delinquent delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days, 150-179 days and 90 or more greater than 180 days, respectively, (b) that are foreclosed, the related Mortgaged Property of which has been foreclosed upon and (c) that have as to which the related Mortgaged Property has become REO, and (d) that have been finally liquidated due to being 180 days or more delinquentREO Property, in each case as of the end of the related Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will shall not be provided on the statements relating to the first Payment Date; (viiix) the weighted average Loan number and aggregate Principal Balance of 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; (viiixi) 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 any Liquidation Loss Distribution Amounts with respect to the Notes, and the aggregate of the Liquidation Loss Amounts (minus any Subsequent Net Recovery Amounts) from all Collection Periods to date expressed as dollars dollar amount and as a percentage of the aggregate Cut-off Off Date Loan BalancePrincipal Balances of the Mortgage Loans; (ixxiii) the aggregate Excess Loss Amounts with respect to the related Collection Period and the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Losses and Fraud Losses with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xi) the Note Balance of the each Class of Notes and the Certificate Principal Balance of each Class of the Certificates after giving effect to the distribution of principal on such Payment Date; (xiixiv) the aggregate Servicing Fees for balance of the related Collection Period Pre-Funding Account, Capitalized Interest Account, Funding Account and the aggregate amount Reserve Sub-Account as of Draws for the end of the related Collection Period; (xiiixv) the Outstanding Reserve AmountPercentage Interest applicable to each of the Securities, the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following after application of payments made on such Payment Date; (axvi) the number and principal amount of release agreements pursuant to Section 3.05(b)(iv) entered into during the calendar year and since the Closing Date, stated separately, for the Home Loans and, the aggregate outstanding principal amount of such release agreements expressed Overcollateralization Amount as a percentage of the Pool Balance with information provided separately with respect to all Unsecured Loans end of the related Collection Period and (b) whether the number and principal amount Excess Spread Test is satisfied as of Capitalization Workouts pursuant to Section 3.02(a)(v) entered into since the Closing Dateend of the related Collection Period; and (xvxvii) the aggregate amount recovered Principal Balance of Subsequent Mortgage Loans transferred to the Trust Estate during the related Collection Period consisting of all subsequent recoveries on any Home Loan that was 180 days or more delinquentPeriod. 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, 25,000 denomination and per Certificate with respect a denomination equal to each Payment Datea 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 Credit Enhancer 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, 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 ▇▇▇ ▇▇▇▇▇▇ ▇▇ 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 Rating Agencies Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Indenture Trustee may require registration and the following information for each Capitalization Workout entered into during the related Collection Period:acceptance of a disclaimer in connection with access to its website. (ib) the original Home 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 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 Master 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 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 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 Master Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be presumptively correct for all purposes hereunder 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. The Master Servicer shall also forward . (c) If the Note Balance of the Variable Pay Revolving Notes is to be reduced on any Payment Date pursuant to the Credit Enhancer and/or its designees any additional informationterms of the Indenture, including without limitationthe Servicer shall, loss and delinquency information requested by not later than 12:00 Noon (New York time) on the Credit Enhancersecond Business Day prior to such Payment Date, with respect deliver a written notice to the Home LoansAdministrative Agent specifying the amount of such reduction.

Statements to Securityholders. (a) With respect to Not later than 10:00 A.M. on each Payment Date, on the Business Day following the related Determination Date, the Master Servicer shall forward provide to the Indenture Trustee Trustee, in electronic form (with a copy to the Rating Agencies and each Paying Agent), and the Indenture Trustee pursuant shall forward to Section 3.26 each Bondholder of record as of the Indenture shall forward or cause most recent Record Date and to be forwarded by mail or otherwise make available electronically the Owner Trustee (with a copy to each Certificateholder, Noteholder, the Credit Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent and under the Trust Agreement for such Paying Agent to forward to each Rating Agency, 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 the following information (the "Servicing Certificate") as to the Notes and Certificatesforth, 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 amount of (a) Interest Collections, (b) Principal Collections and (c) Substitution Adjustment AmountsBond Class Balance thereof; (ii) the amount of the distributions to holders of each Class of Bonds on such distribution as principal Distribution Date allocable to the Noteholders(A) interest, (B) Interest Carryover Shortfalls and (C) Prepayment Premiums; (iii) the amount outstanding Funding Note Balance as of such distribution as interest to the Noteholders, separately stating the portion thereof in respect of overdue accrued interestrelated 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 Home Loans related Mortgage Loan as of the end 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; (vxii) the amount of any Credit Enhancement Draw Amount, if any, for such Payment Date and the aggregate amount of prior draws thereunder not yet reimbursed; (vi) the number Servicing Advances and aggregate Loan Balances of Home 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 P&I Advances outstanding as of the end of the related Collection Period; PROVIDED, HOWEVER, prior calendar month that such information will not be provided on have been made by the statements relating to the first Payment Date; (vii) the weighted average Loan Rate for the related Collection Period; (viii) the aggregate Liquidation Loss Amounts with respect to the related Collection PeriodServicer, the amount of any Liquidation Loss Distribution Amounts with respect to Special Servicer, the Notes, Indenture Trustee 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; (ix) the aggregate Excess Loss Amounts with respect to the related Collection Period and the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Losses and Fraud Losses with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xi) the Note Balance of the Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (xii) the aggregate Servicing Fees for the related Collection Period and the aggregate amount of Draws for the related Collection PeriodFiscal Agent, separately stated; (xiii) the Outstanding Reserve Amount, the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following such Payment Date; (a) the number and principal amount of release agreements pursuant to Section 3.05(b)(iv) entered into during the calendar year and since the Closing Date, stated separately, for the Home 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 3.02(a)(v) entered into since the Closing Date; and (xv) the aggregate amount recovered during the related Collection Period consisting of all subsequent recoveries on any Home Loan that was 180 days or more delinquent. 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 Master 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 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 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 Master 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 Overcollateralization Level at the close of business on such Distribution Date; (xiv) the Business Day next succeeding each Determination Dateamount, 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 if any, withdrawn from the Custodial Collection Account and deposited into paid to 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, 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 Issuer's written requestFiscal Agent, the Master Indenture Trustee, the Servicer shall promptly furnish information reasonably requested by or the Issuer that is reasonably available to the Master Special Servicer to enable the Issuer to perform its federal and state income tax reporting obligations. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, 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 Home Loans.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. (a) With respect to each Payment Date, on the Business Day following the related Determination Date, the Master Servicer shall forward the Servicing Certificate and a computer file containing mutually agreed upon loan level information to the Indenture Trustee Trustee, and the Indenture Trustee Trustee, pursuant to Section 3.26 of the Indenture Indenture, shall forward or cause to be forwarded by mail or otherwise make such Servicing Certificate available electronically to each Certificateholder, each Noteholder, the Credit Enhancer, the Depositor, the Owner Trustee, the Certificate Paying Agent Agent, Bear Stearns Capital Markets Inc. and each Rating Agency, a statement setting ▇▇▇▇▇▇. The Servicing Certificate shall set forth the following information (the "Servicing Certificate") as to the Notes and Certificates, to the extent applicable: (i) the aggregate amount of (a) Interest Collections, (b) Principal Collections Collections, and (c) Substitution Adjustment AmountsAmounts for such Collection Period; (ii) the amount of such distribution as principal to the NoteholdersNoteholders of each Class of Notes; (iii) the amount of such distribution as interest to the NoteholdersNoteholders of each Class of Notes, separately stating the portion thereof amount thereof, if any, payable in respect of overdue accrued interestunpaid Interest Shortfalls, and the amount of any Interest Shortfalls for the related Payment Date; (iv) the number and Pool Balance of the Home Loans as of the end of the related Collection Period; (v) the amount of any Credit Enhancement Policy Draw Amount, if any, for such Payment Date and the aggregate amount of prior draws on the Policy thereunder not yet reimbursed; (v) the amount of such distribution to the Certificateholders; (vi) the aggregate Principal Balance of the Mortgage Loans as of the end of the preceding Collection Period; (vii) the number and aggregate Loan Principal Balances of Home Mortgage Loans (a) as to which the Monthly Payment is Delinquent delinquent for 30-59 days, 60-89 days, 90-119 days, 120-149 days and 90 or more 150-179 days, respectively, (b) that are foreclosed, the related Mortgaged Property of which has been foreclosed upon and (c) that have as to which the related Mortgaged Property has become REO, and (d) that have been finally liquidated due to being 180 days or more delinquentREO Property, in each case as of the end of the related preceding Collection Period; PROVIDEDprovided, HOWEVERhowever, that such information will shall not be provided on the statements relating to the first Payment Date; (vii) the weighted average Loan Rate for the related Collection Period; (viii) the aggregate Liquidation Loss Amounts with respect to the related Collection Period, the amount distributed as principal to Noteholders in respect 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 dollar amount and as a percentage of the aggregate Cut-off Off Date Loan BalancePrincipal Balances of the Mortgage Loans; (ix) the aggregate Excess Loss Amounts with respect to the related Collection Period and the aggregate of the Excess Loss Amounts from all Collection Periods to date; (x) the aggregate Special Hazard Losses and Fraud Losses with respect to the related Collection Period and the aggregate of each of such losses from all Collection Periods to date; (xi) the Note Balance of the each Class of Notes and the Certificate Principal Balance of the Certificates after giving effect to the distribution of principal on such Payment Date; (x) the amount on deposit in each of the Pre-Funding Account and Capitalized Interest Account as of the end 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 aggregate Servicing Fees Overcollateralization Amount as of the end of the preceding Collection Period; (xiii) the weighted average of the Net Loan Rates for the related Collection Period and the aggregate amount of Draws Mortgage Loans for the related Collection Period; (xiii) the Outstanding Reserve Amount, the Special Hazard Amount, the Fraud Loss Amount and the Reserve Amount Target immediately following such Payment Date; (axiv) the number and principal amount aggregate Principal Balance of release agreements Mortgage Loans repurchased pursuant to Section 3.05(b)(iv) entered into 3.15 herein during the calendar year and since the Closing Date, stated separately, for the Home 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 3.02(a)(v) entered into since the Closing DateCollection Period; and (xv) the aggregate amount recovered during Principal Balance of Subsequent Mortgage Loans transferred to the related Collection Period consisting of all subsequent recoveries on any Home Loan that was 180 days or more delinquentTrust 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 CertificateNote, as applicable, with a $1,000 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 amount shall be expressed as an aggregate dollar amount with a $1,000,000 denomination. (b) In addition, with respect to each Payment Date. If a Servicing Default shall occur, on the Business Day following the related Determination Date, the Master Servicer shall forward to the Credit Enhancer 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 Agencies Agency, a statement to such effect, including the following 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 for in an alternative format) available each Capitalization Workout entered into during month to Securityholders, and other parties to this Agreement via the related Collection Period: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 are unable to use the ab▇▇▇ ▇▇▇▇▇▇▇▇tion 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. (ib) the original Home 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 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 Master 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 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. The determination by the Master Servicer of such amounts shall, in the absence of obvious error, be presumptively deemed to be presumptively correct for all purposes hereunder 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. The Master Servicer shall also forward to the Credit Enhancer and/or its designees any additional information, including without limitation, loss and delinquency information requested by the Credit Enhancer, with respect to the Home Loans.