Common use of Reports to Certificateholders Clause in Contracts

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the Cap Provider) and shall make available to the Trustee, any NIMS Insurer, the Credit Risk Manager and each Certificateholder a report setting forth the following information (on the basis of Mortgage Loan level information obtained from the Servicers): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and the calculation thereof; (iii) the amount, if any, of any distribution to the Holders of the Class P Certificates, the Class X Certificates and the Residual Certificate; (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers (or the Master Servicer) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts; (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ix) the amount of the Securities Administrator Fees, Trustee Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums paid during the Collection Period to which such distribution relates; (x) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xiv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates; (xv) the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates of the Certificates; and (xx) the amount of any payments made by the Cap Provider to the Trust Fund under the Cap Agreement. In the case of information furnished pursuant to subclauses (i), (ii) and (vi) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator based solely on Mortgage Loan data provided to the Securities Administrator by the Master Servicer (in a format agreed to by the Securities Administrator and the Master Servicer) no later than 12:00 p.m.(noon) Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall be promptly forwarded to the Securities Administrator, the Securities Administrator shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the Trustee. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information). (d) The Securities Administrator shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information).

Reports to Certificateholders. (a) On each Distribution Date, concurrently with the Securities Administrator distribution to the Certificateholders, the Trustee shall have prepared (furnish to the Certificateholders, the Seller, the Depositor and each Rating Agency, a report, based solely on information provided to the Trustee by the Master Servicer and in the Trustee or the Cap Provider) and shall make available to the TrusteeMaster Servicer’s Monthly Report, any NIMS Insurer, the Credit Risk Manager and each Certificateholder a report setting forth containing the following information (on the basis of Mortgage Loan level information obtained from the Servicers):information: (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and the calculation thereof; (iii) the amount, if any, of any distribution to the Holders of the Class P Certificates, the Class X Certificates and the Residual Certificate; (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers (or the Master Servicer) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts; (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ix) the amount of the Securities Administrator Fees, Trustee Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums paid during the Collection Period to which such distribution relates; (x) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xiv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates; (xvii) the Interest Remittance Amount and amount of such distributions allocable to principal, separately identifying the aggregate amount of any prepayments or other unscheduled recoveries of principal included therein; (iii) the amount of such distributions allocable to interest; (iv) the Class Principal Remittance Amount applicable Balance (or Class Notional Balance) for each Class of Certificates as of such Distribution Date together with the principal amount or notional amount of the Certificates of the related Class (based on a Certificate in the original principal amount or notional amount of $1,000) then outstanding, in each case after giving effect to any payment of principal on such Distribution Date; (xviv) the level of LIBOR and the Interest Rates applicable to the LIBOR Certificates for such Distribution Date; (vi) if applicable, a statement that interest distributable on one or more Classes of Certificates on such Distribution Date represents interest accrued on such Classes at a rate equal to the Class A Available Funds Cap or the Subordinate Available Funds Cap, as applicable; (vii) the Pool Balance as of such Distribution Date; (viii) the Overcollateralization Amount for such Distribution Date; (ix) the amount of any shortfall Delinquency Advances for such Distribution Date, and the amount of any Outstanding Advances in respect of Delinquency Advances remaining after such Distribution Date; the amount of any Purchase Prices deposited into the Collection Account; (i.e., x) the difference between amount of current and cumulative Realized Losses on the Mortgage Loans; (xi) the number of Mortgagor bankruptcies; (xii) the number of Mortgage Loans and the aggregate amounts Principal Balance thereof that were repurchased by the Seller or Depositor pursuant Section 2.03 hereof during the one-month period immediately preceding the related Determination Date; (xiii) the amount of principal and any Realized Losses applied to any Class of Certificates on such Distribution Date; (xiv) the amount of any Basis Risk Shortfall with respect to any Class of Certificates; (xv) the amount of any Class F Shortfall; (xvi) the amount of any shortfalls in distributions of interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account with respect to each Class of Certificates on such Distribution Date and the amounts actually distributed)cumulative amount of any unreimbursed shortfalls in distributions of interest from prior Distribution Dates; (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect Servicing Fees, the Master Servicing Fee, the Trustee Fee, the Custodian Fee and the Pool PMI Insurance Premium paid with respect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates of the Certificates; and (xxxviii) the amount of any payments made by the Cap Provider to the Trust Fund received under the Cap Agreement. In Items (i) through (iii) above shall, with respect to the case Certificates be presented on the basis of a Certificate having an original $1,000 denomination and on an aggregate basis. The Trustee may, at its option, make the information furnished set forth above available each month to Certificateholders and the parties to this Agreement via the Trustee’s internet website. Access to this service shall be limited to Persons with valid passwords. The Trustee shall provide such information by mail to any Certificateholder that requests paper copies. Each calendar year following any year during which the Certificates are outstanding, the Trustee shall furnish a report to each Certificateholder of record at any time during such calendar year as to the aggregate of amounts reported pursuant to subclauses items (i), (ii) and (viiii) aboveabove with respect to the related Certificates for such calendar year. (b) In addition, on each Distribution Date the Trustee will distribute to each Certificateholder (which shall be the Depository Trust Company as long as the Certificates are in book-entry form), the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall make such report and any additional loan level following information (and, at its option, any additional files containing the same based upon information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator based solely on Mortgage Loan data provided to the Securities Administrator by the Master Servicer (in a format agreed to by the Securities Administrator and the Master Servicer) no later than 12:00 p.m.(noon) Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noonMaster Servicer) Eastern Standard Time one Business Day as of the close of business on the last business day of the prior to calendar month: (i) the Distribution Date. total number of Mortgage Loans and the aggregate principal balances thereof, together with the number and aggregate principal balances of Mortgage Loans (a) 30-59 days delinquent, (b) Upon 60-89 days delinquent and (c) 90 or more days delinquent; (ii) the reasonable advance written request number and aggregate principal balance of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall be promptly forwarded to the Securities Administrator, the Securities Administrator shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as in foreclosure proceedings (and whether any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations Mortgage Loans are also included in any of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment statistics described in the Certificatesforegoing clause (i)); provided, however, that and (iii) the Securities Administrator shall be entitled number and aggregate principal balance of all Mortgage Loans relating to be reimbursed by REO Properties (and whether any such Certificateholder or Mortgage Loans are also included in any of the NIMS Insurer for statistics described in the actual expenses incurred in providing such reports foregoing clauses (i) and access(ii)). (c) Within 90 daysAnnually, or such shorter period as may be required by statute or regulation, after the end in January of each calendar year, the Trustee shall have prepared and the Trustee shall make available furnish to any NIMS Insurer and each Person who at any time during the calendar year that was a Certificateholder of record, and make available to Certificate Owners (identified as such by during the Clearing Agency) in accordance with applicable regulations, prior calendar year a report summarizing statement showing the items provided to any NIMS Insurer aggregate interest and the Certificateholders pursuant aggregate principal received by such Person with respect to Sections 4.03(a)(i) and 4.03(a)(ii) on an annual basis as may be required to enable the Certificates during the prior calendar year, together with any NIMS Insurer and such Holders to prepare their standard federal income tax returns; providedreporting form for such information, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer Trustee upon request pursuant to the Trustee. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information). (dSection 6049(d)(7)(C) The Securities Administrator shall furnish any other information that is required by of the Code and the regulations promulgated thereunder to be made available to Certificateholders. The Master Servicer shall provide assist the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information)Certificateholders in computing their market discount.

Reports to Certificateholders. (a) On each Distribution Date, concurrently with the Securities Administrator distribution to the Certificateholders, the Trustee shall have prepared (furnish to the Certificateholders, the Seller, the Depositor and each Rating Agency, a report, based solely on information provided to the Trustee by the Master Servicer and in the Trustee or the Cap Provider) and shall make available to the TrusteeMaster Servicer’s Monthly Report, any NIMS Insurer, the Credit Risk Manager and each Certificateholder a report setting forth containing the following information (on the basis of Mortgage Loan level information obtained from the Servicers):information: (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and the calculation thereof; (iii) the amount, if any, of any distribution to the Holders of the Class P Certificates, the Class X Certificates and the Residual Certificate; (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers (or the Master Servicer) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts; (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ix) the amount of the Securities Administrator Fees, Trustee Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums paid during the Collection Period to which such distribution relates; (x) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xiv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates; (xvii) the Interest Remittance Amount and amount of such distributions allocable to principal, separately identifying the aggregate amount of any prepayments or other unscheduled recoveries of principal included therein; (iii) the amount of such distributions allocable to interest; (iv) the Class Principal Remittance Amount applicable Balance (or Class Notional Balance) for each Class of Certificates as of such Distribution Date together with the principal amount or notional amount of the Certificates of the related Class (based on a Certificate in the original principal amount or notional amount of $1,000) then outstanding, in each case after giving effect to any payment of principal on such Distribution Date; (xviv) the level of LIBOR and the Interest Rates applicable to the LIBOR Certificates for such Distribution Date; (vi) if applicable, a statement that interest distributable on one or more Classes of Certificates on such Distribution Date represents interest accrued on such Classes at a rate equal to the Class [A] Available Funds Cap or the Subordinate Available Funds Cap, as applicable; (vii) the Pool Balance as of such Distribution Date; (viii) the Overcollateralization Amount for such Distribution Date; (ix) the amount of any shortfall Delinquency Advances for such Distribution Date, and the amount of any Outstanding Advances in respect of Delinquency Advances remaining after such Distribution Date; (i.e., x) the difference between amount of any Purchase Prices deposited into the Collection Account; (xi) the amount of current and cumulative Realized Losses on the Mortgage Loans; (xii) the number of Mortgagor bankruptcies; (xiii) the number of Mortgage Loans and the aggregate amounts Principal Balance thereof that were repurchased by the Seller or Depositor pursuant Section 2.03 hereof during the one-month period immediately preceding the related Determination Date; (xiv) the amount of principal and interest which Certificateholders would have received any Realized Losses applied to any Class of Certificates on such Distribution Date; (xv) the amount of any Basis Risk Shortfall with respect to any Class of Certificates; (xvi) the amount of any Class [F] Shortfall, if there were sufficient available amounts in the Certificate Account and the amounts actually distributed)applicable; (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect shortfalls in distributions of interest with respect to the distributions made in each Class of Certificates on such Distribution DateDate and the cumulative amount of any unreimbursed shortfalls in distributions of interest from prior Distribution Dates; (xviii) the aggregate amount of any insurance claim payments received Servicing Fees, the Master Servicing Fee, the Trustee Fee and the Pool PMI Insurance Premium, if any, paid with respect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates of the Certificatessuch Distribution Date; and (xxxix) the amount of any payments made by the Cap Provider to the Trust Fund received under the Cap AgreementAgreement or received as proceeds from the sale of any Excess Cap Amount. In addition to the case information listed above, such report shall also include such other information as is required by Form 10-D, including, but not limited to, the information required by Item 1121 (§ 229.1121) of Regulation AB. Items (i) through (iii) above shall, with respect to the Certificates be presented on the basis of a Certificate having an original $1,000 denomination and on an aggregate basis. The Trustee may, at its option, make the information furnished set forth above available each month to Certificateholders and the parties to this Agreement via the Trustee’s internet website. Access to this service shall be limited to Persons with valid passwords. The Trustee shall provide such information by mail to any Certificateholder that requests paper copies. Each calendar year following any year during which the Certificates are outstanding, the Trustee shall furnish a report to each Certificateholder of record at any time during such calendar year as to the aggregate of amounts reported pursuant to subclauses items (i), (ii) and (viiii) aboveabove with respect to the related Certificates for such calendar year. (b) In addition, on each Distribution Date the Trustee will distribute to each Certificateholder (which shall be the Depository Trust Company as long as the Certificates are in book-entry form), the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall make such report and any additional loan level following information (and, at its option, any additional files containing the same based upon information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator based solely on Mortgage Loan data provided to the Securities Administrator by the Master Servicer (in a format agreed to by the Securities Administrator and the Master Servicer) no later than 12:00 p.m.(noon) Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noonMaster Servicer) Eastern Standard Time one Business Day as of the close of business on the last business day of the prior to calendar month: (i) the Distribution Date. total number of Mortgage Loans and the aggregate principal balances thereof, together with the number and aggregate principal balances of Mortgage Loans (a) 30-59 days delinquent, (b) Upon 60-89 days delinquent and (c) 90 or more days delinquent; (ii) the reasonable advance written request number and aggregate principal balance of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall be promptly forwarded to the Securities Administrator, the Securities Administrator shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as in foreclosure proceedings (and whether any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations Mortgage Loans are also included in any of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment statistics described in the Certificatesforegoing clause (i)); provided, however, that and (iii) the Securities Administrator shall be entitled number and aggregate principal balance of all Mortgage Loans relating to be reimbursed by REO Properties (and whether any such Certificateholder or Mortgage Loans are also included in any of the NIMS Insurer for statistics described in the actual expenses incurred in providing such reports foregoing clauses (i) and access(ii)). (c) Within 90 daysAnnually, or such shorter period as may be required by statute or regulation, after the end in January of each calendar year, the Trustee shall have prepared and the Trustee shall make available furnish to any NIMS Insurer and each Person who at any time during the calendar year that was a Certificateholder of record, and make available to Certificate Owners (identified as such by during the Clearing Agency) in accordance with applicable regulations, prior calendar year a report summarizing statement showing the items provided to any NIMS Insurer aggregate interest and the Certificateholders pursuant aggregate principal received by such Person with respect to Sections 4.03(a)(i) and 4.03(a)(ii) on an annual basis as may be required to enable the Certificates during the prior calendar year, together with any NIMS Insurer and such Holders to prepare their standard federal income tax returns; providedreporting form for such information, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer Trustee upon request pursuant to Section 6049(d)(7)(C) of the Trustee. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (Code and the Trustee may rely solely upon such information)regulations promulgated thereunder to assist the Certificateholders in computing their market discount. (d) The Securities Administrator On each Distribution Date, the Trustee shall furnish any other information that is required by the Code and regulations thereunder deliver or cause to be made delivered by first class mail or make available on its website to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for Depositor, a copy of the Securities Administrator report delivered to prepare such reports (and the Securities Administrator may rely solely upon such information)Certificateholders pursuant to this Section 6.08.

Reports to Certificateholders. (a) On Unless otherwise specified in the applicable Series Supplement, on the next Business Day following each such Distribution Date, the Securities Administrator shall have prepared (based solely on information provided by the Master Servicer and Date the Trustee shall forward or the Cap Provider) and shall make available cause to be forwarded to the TrusteeDepositor, any NIMS Insurer, the Credit Risk Manager and each Certificateholder of such Series, to each Rating Agency rating such Series and such other Persons as may be specified in such Series Supplement, a report statement setting forth the following information (on the basis of Mortgage Loan level information obtained from the Servicers):forth: (i) the aggregate amount amounts received by the Trustee as of the distribution to be made on last such Distribution Date to the Holders statement in respect of each Class of Certificates other than any Class of Notional Certificatesprincipal, to the extent applicable, allocable to principal interest and premium on the Mortgage LoansUnderlying Securities and the Swap Receipt Amount, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principalif any; (ii) the aggregate amount of the distribution to be made on Swap Distribution Amount, if any, for such Distribution Date to the Holders of each Class of Certificates allocable to interest and the calculation thereofdate; (iii) the amountamount of the distribution on such Distribution Date to Certificateholders of each Class of such Series allocable to principal of and premium, if any, and interest on the Certificates of any distribution to the Holders of the Class P Certificates, the Class X Certificates each such Class; and the Residual Certificateamount of aggregate unpaid interest accrued as of such Distribution Date; (Aiv) in the aggregate amount case of any Advances required each Class of Floating Rate Certificates of such Series, the respective Floating Interest Rate applicable to be made by or each such Class on behalf of the Servicers (or the Master Servicer) with respect to such Distribution Date, (B) as calculated in accordance with the aggregate amount of method specified in such Advances actually made, Certificates and (C) the amount, if any, by which (A) above exceeds (B) aboverelated Series Supplement; (v) the total number amount of Mortgage Loanscompensation received by the Trustee for the period relating to such Distribution Date, and such other customary information as the Trustee deems necessary or desirable, (or that any such Certificateholder reasonably requests,) to enable such Certificateholders to prepare their tax returns; (vi) the aggregate stated principal amount and, if applicable, notional amount of the Underlying Securities related to such Series, and the current interest rate or rates thereon at the close of business on such Distribution Date; (vii) the aggregate Certificate Principal Balance (or Notional Amount or Amortizing Notional Balance, if applicable) of each Class of such Series at the close of business on such Distribution Date, separately identifying any reduction in such aggregate Certificate Principal Balance (or Notional Amount or Amortizing Notional Balance) due to the allocation of any Realized Losses on such Distribution Date or otherwise; (viii) as to any Series (or any Class within such Series) for which Credit Support has been obtained, the aggregate Scheduled Principal Balance amount or notional amount of all the Mortgage Loans coverage of each element of Credit Support (and rating, if any, thereof) included therein as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts; (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ix) the amount of the Securities Administrator Fees, Trustee Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums paid during the Collection Period to which such distribution relates; (x) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xiv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates; (xv) the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates of the Certificates; and (xx) the amount of any payments made by the Cap Provider to the Trust Fund under the Cap Agreement. In the case of information furnished pursuant to subclauses (i), (iiiii) and (viv) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator based solely on Mortgage Loan data provided to the Securities Administrator by the Master Servicer (in a format agreed to by the Securities Administrator and the Master Servicer) no later than 12:00 p.m.(noon) Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall be promptly forwarded to the Securities Administrator, the Securities Administrator shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer equivalent thereof in any other Specified Currency) per minimum denomination of Certificates or for the actual expenses incurred in providing such reports and access. (c) other specified portion thereof. Within 90 days, or such shorter a reasonable period as may be required by statute or regulation, of time after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available furnish to any NIMS Insurer and each Person who at any time during the each such calendar year was a Certificateholder of record, and make available to Certificate Owners a statement containing the information set forth in subclauses (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(iiii) and 4.03(a)(ii(v) on an annual basis as may be required to enable any NIMS Insurer and above, aggregated for such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be calendar year or the applicable where relevant reports or summaries are required elsewhere in this Agreementportion thereof during which such person was a Certificateholder. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses obligation of the Trust Fund furnished by the Master Servicer to the Trustee. The Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as are from time to time in effect. The Trustee shall supply to Certificateholders who so request all materials received by the Trustee from the Underlying Securities Issuer. (b) Unless otherwise specified in the applicable Series Supplement, the Trustee shall appoint a firm of independent certified public accountants to review each of the distribution reports prepared by the Trustee pursuant to this requirement if it forwards such information Section 4.03 and to verify (x) the assertions of the Depositor and Trustee in any other format permitted by report filed pursuant to this Section 4.03 and Section 3.09(a) are fairly stated in all material respects and (y) that the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (Depositor and the Trustee have each fulfilled their obligations under this Trust Agreement. The Trustee shall instruct the accountants (i) to promptly report to the Trustee any errors in such distribution reports discovered in verifying such calculations and (ii) to render to the Trustee an annual examination report, prepared in compliance with established or stated criteria as set forth in the professional standards of the American Institute of Certified Public Accountants, within 45 days (or such longer period as may rely solely upon be acceptable to the Trustee) following the end of each calendar year that specifies the calculations made in reviewing the distribution reports prepared by the Trustee for the previous calendar year and such information)accountants' associated findings. (dc) The Securities Administrator If any Certificates of a given Series are listed on the New York Stock Exchange, the Trustee shall furnish any other information that is required by simultaneously forward reports to Certificateholders pursuant to this Section 4.03 of the Code and regulations thereunder Standard Terms to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information)New York Stock Exchange.

Reports to Certificateholders. (a) On each Distribution Date, the Securities Trust Administrator shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderServicer) and shall make available to the Trustee, any NIMS Insurer, the Credit Risk Manager Insurer and each Certificateholder a report setting forth the following information (on the basis of Mortgage Loan level information obtained from the ServicersServicer): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and the calculation thereof; (iii) the amount, if any, of any distribution to the Holders of the Class P Certificates, the Class X Certificates Certificate and the Residual Certificate; (iv) (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers Servicer, the Subservicer (or the Master Servicer) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) by Mortgage Pool and in the aggregate, the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts; (vii) the amount of any all Prepayment Premiums distributed to the Class P X Certificates; (viii) by Mortgage Pool, and in the aggregate, the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ix) the amount of the Securities Administrator Fees, Trustee Fees, Master Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums the Servicing Fees paid during the Collection Period to which such distribution relates; (x) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator Master Servicer by the Master ServicerServicer or Subservicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, commenced as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans in any Mortgage Pool with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xiv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates; (xv) with respect to each Mortgage Pool, the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Collection Account and the amounts actually distributed); (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in on such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates Rate of the Certificates; and (xxxix) the amount of any payments made by the Cap Provider to the Trust Fund under the Basis Risk Cap Agreementand the Class X Cap. In the case of information furnished pursuant to subclauses (i), (ii) and (vi) above, the amounts shall (except in the case of the report delivered to the holder of the Class X CertificatesCertificate) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Trust Administrator shall will make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities Trust Administrator’s internet website. The Securities Trust Administrator’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇[ ].” Assistance in using the website can be obtained by calling the Securities Trust Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇[ ]. Such parties that are unable to use the 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 Securities Trust Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Trust Administrator shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Trust Administrator based solely on Mortgage Loan data provided to the Securities Trust Administrator by the Master Servicer (in a format agreed to by the Securities Trust Administrator and the Master Servicer) no later than 12:00 p.m.(noon) Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information to the TrusteeTrust Administrator, Certificateholders the Trustee and any NIMS Insurer, the Securities Administrator Master Servicer shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicerthe Servicer or the Subservicer, and the Securities Administrator Master Servicer shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Master Servicer shall be entitled to conclusively rely on the Mortgage Loan data provided by to the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or and any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall be promptly forwarded to the Securities Trust Administrator, the Securities Trust Administrator shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a the Servicer or the Subservicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicerthe Servicer or the Subservicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Trust Administrator shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee Trust Administrator shall have prepared prepare and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(iiSection 4.03(a) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the TrusteeFund. The Trustee Trust Administrator shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information). (d) The Securities Administrator shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Trust Administrator with such information as is necessary for the Securities Trust Administrator to prepare such reports (and the Securities Trust Administrator may rely solely upon such information). The Trust Administrator shall provide any NIMS Insurer with the required tax information applicable to any NIMS Insurer.

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderSwap Counterparty) and shall make available to the Trustee, any NIMS Insurer, the Swap Counterparty, the Credit Risk Manager Manager, the Seller and each Certificateholder a report (the “Distribution Date Statement”) setting forth the following information (on the basis of Mortgage Loan level information obtained from the ServicersMaster Servicer): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and the calculation thereof; (iii) the amount, if any, of any distribution to the Holders of the Class P Certificate, the Class X Certificates, the Class X LT-R Certificates and the Residual Class R Certificate; (iv) (A) the aggregate amount of any Advances required to be made as of the end of the month immediately preceding the month in which the Distribution Date occurs by or on behalf of the Servicers Servicer (or the Master Servicer) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) by Mortgage Pool and in the aggregate, the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts; (vii) the amount of any Prepayment Premiums Charges (which includes Servicer Prepayment Charge Payment Amounts) distributed to the Class P Certificates; (viii) by Mortgage Pool and in the aggregate, the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ix) the amount of the Securities Administrator Fees, Trustee Fees, Servicing Fees, Fees and the Credit Risk Manager’s Fees and Pool Insurance Premiums paid during the Collection Period to which such distribution relates; (x) [Reserved]; (xi) by Mortgage Pool and in the aggregate, the number and aggregate Scheduled Principal Balance of Mortgage LoansLoans in each Mortgage Pool, as reported to the Securities Administrator by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, each as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO PropertiesProperties (the information in this item (xi) to be calculated utilizing the OTS delinquency method); (xixii) by Mortgage Pool and in the aggregate, the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xiixiii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiiixiv) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Deferred Amounts, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xivxv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of CertificatesCertificates (with a notation if such Certificate Interest Rate reflects the application of the applicable Net Funds Cap); (xvxvi) with respect to each Mortgage Pool, the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvixvii) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xviixviii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in on such Distribution Date; (xviiixix) the amount of any Overcollateralization Deficiency after giving effect to the distributions made on such Distribution Date; (xx) the aggregate amount of any insurance claim payments received with respect to each Pool any Primary Mortgage Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xixxxi) the level of LIBOR and the Certificate Interest Rates of the Certificates; andfor such Distribution Date; (xxxxii) the amount of any payments made by the Cap Provider Counterparty to the Supplemental Interest Trust Fund under made pursuant to Section 5.07(d); (xxiii) the Cap Agreementamount of any Net Swap Payment to the Supplemental Interest Trust made pursuant to Section 5.07, any Net Swap Payment to the Swap Counterparty made pursuant to Section 5.02, any Swap Termination Payment to the Supplemental Interest Trust made pursuant to Sections 5.07 and any Swap Termination Payment to the Swap Counterparty made pursuant to Section 5.02; (xxiv) whether a Trigger Event is in effect for such Distribution Date; and (xxv) the amount of any FPD Premiums, if any, for such Distribution Date. In addition to the information listed above, such Distribution Date Statement shall also include such other information as is required by Form 10-D, including, but not limited to, the information required by Item 1121 (§ 229.1121) of Regulation AB. In the case of information furnished pursuant to subclauses (i), (ii) and (vi) above, the amounts shall also (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. On any Distribution Date after the occurrence of a Section 7.01(c) Purchase Event, the information required by subclauses (i), (iii), (iv), (v), (vii), (viii), (ix), (xi), (xii), (xiii), (xvi), (xix), (xxi) (xxii) and (xxiii) shall be provided to the Trustee, any NIMS Insurer, the Swap Counterparty, the Credit Risk Manager, the Seller, the holder of the Class LT-R Certificate and the LTURI-holder with regard to the Lower Tier REMIC 1 Uncertificated Regular Interests in lieu of the Certificates. The Securities Administrator shall make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. In addition, the Trustee may post the information provided to it under this Section 4.03 by the Securities Administrator at the Trustee’s website initially located at ▇▇▇▇://▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇. The foregoing information and reports shall be prepared and determined by the Securities Administrator based solely on Mortgage Loan data provided to the Securities Administrator by the Master Servicer (in a format agreed to by the Securities Administrator and the Master Servicer) no later than 12:00 p.m.(noon) 2:00 p.m. Eastern Standard Time four Business Days prior to the Distribution DateDate and on the information provided to the Securities Administrator by the Swap Counterparty and the Cap Counterparty. In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator shall be entitled to rely conclusively on the accuracy and completeness of the information or data (i) regarding the Mortgage Loans and the related REO Property Property, that has been provided to the Securities Administrator by the Master Servicer Servicer, (ii) regarding the Swap Agreement, that has been provided to the Securities Administrator by each Servicerthe Swap Counterparty and (iii) regarding the Interest Rate Cap Agreement, that has been provided to the Securities Administrator by the Cap Counterparty, and the Securities Administrator shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors or omissions in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) p.m. Eastern Standard Time one two Business Day Days prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall be promptly forwarded to the Securities Administrator, the Securities Administrator shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a the Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such the Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator shall be entitled to be reimbursed by such Certificateholder or the any NIMS Insurer for the actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end Upon request of each calendar yeara Certificateholder and prior to a Section 7.01(c) Purchase Event, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the TrusteeFund. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer Securities Administrator shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information). (d) The Securities Administrator shall shall, to the extent reasonably available, furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall shall, to the extent reasonably available, provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information). (e) So long as not prohibited by applicable law, the Master Servicer shall, to the extent reasonably available, provide the Depositor or to any party designated by the Depositor, as promptly as practicable upon the Depositor's request, any and all loan-level information that the Depositor may request in any format reasonably requested by the Depositor. The Depositor shall have the right to publish, disseminate or otherwise utilize such information in its discretion, subject to applicable laws and regulations.

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator Trustee shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderServicer) and shall make available to the Trustee, any NIMS Insurer, the Credit Risk Manager and each Certificateholder a written report setting forth the following information information, by Mortgage Pool and Certificate Group (on the basis of Mortgage Loan level information obtained from the Servicersapplicable Servicer and the Master Servicer): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates Certificates, other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principalprincipal in each Mortgage Pool; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and interest, including any Accrual Amount added to the calculation thereofClass Principal Amount of any Class of Accrual Certificates; (iii) the amount, if any, of any distribution to the Holders of the Class P Certificates, the Class X Certificates and the a Residual Certificate; (iv) (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers Master Servicer or any Servicer (or or, if applicable, the Master ServicerTrustee) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) the total number of Mortgage Loans, the aggregate Scheduled Aggregate Principal Balance of all the Mortgage Loans as and the Pool Balance of the close of business on the last day of the related Collection Periodeach Mortgage Pool for such Distribution Date, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) aboveabove (and to the addition of any Accrual Amount in the case of any Class of Accrual Certificates), separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts;Realized Losses: (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) the amount of any Realized Losses incurred realized with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date, stating separately the amount of Special Hazard Losses, Fraud Losses and Bankruptcy Losses and the aggregate amount of such Realized Losses, and the remaining Special Hazard Loss Amount, Fraud Loss Amount and Bankruptcy Loss Amount; (ixviii) the amount of the Securities Administrator Fees, Trustee Master Servicing Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums Trustee Fee paid during the Collection Due Period to which such distribution relates; (xix) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basisdelinquent one month, (c) Delinquent 60 to 89 days on a contractual basisdelinquent two months, (d) Delinquent 90 delinquent three or more days on a contractual basismonths, and (e) as to which foreclosure proceedings have been commenced, as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property became a REO Property commenced as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xiix) the aggregate principal balance of all REO Properties as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xi) with respect to substitution of Mortgage Loans in the preceding calendar month, the aggregate Scheduled Principal Balance of each all such Deleted Mortgage LoanLoans, and of each all Qualifying Substitute Mortgage LoanLoans; (xiiixii) the aggregate outstanding Carryforward Interest, Interest Shortfalls and Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xivxiii) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates;; and (xv) the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvixiv) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates of the Certificates; and (xx) the amount of any payments made by the Cap Provider to the Trust Fund under the Cap Agreement. In the case of information furnished pursuant to subclauses (i), (ii) and (viviii) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall Trustee will make such report and any additional loan level information (and, at its option, any additional files provided by the Master Servicer containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities Administrator’s Trustee's internet website. The Securities Administrator’s Trustee's internet website shall initially be located at “"▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇/▇▇▇▇▇▇.” " Assistance in using the website can be obtained by calling the Securities Administrator’s Trustee's customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator Trustee based solely on Mortgage Loan data provided to the Securities Administrator Trustee by the Master Servicer (in a format agreed to by the Securities Administrator and the Master Servicer) no later than 12:00 p.m.(noon) Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information Mortgage Loan data to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator Master Servicer shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator Master Servicer shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Trustee shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall will be promptly forwarded to the Securities AdministratorMaster Servicer, the Securities Administrator Master Servicer shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator Master Servicer shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the such Master Servicer's actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available shall, upon written request, send to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(iiSection 4.03(a) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the Trustee. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the CodeFund. The Master Servicer shall provide the Trustee with such Mortgage Loan level information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information)reports. (d) The Securities Administrator shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information).

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderCounterparty) and shall make available to the Trustee, any NIMS Insurer, the Credit Risk Manager and each Certificateholder a report setting forth the following information (on the basis of Mortgage Loan level information obtained from the Servicers): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and the calculation thereof; (iii) the amount, if any, of any distribution to the Holders of the Class P CertificatesCertificate, the Class X Certificates and the Residual Certificate; (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers (or the Master Servicer) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) by Mortgage Pool and in the aggregate, the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts; (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) by Mortgage Pool and in the aggregate, the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ix) the amount of the Servicing Fees, Securities Administrator Fees, Trustee Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool PMI Insurance Premiums paid during the Collection Period to which such distribution relates; (x) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, all as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans in any Mortgage Pool with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xiv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates; (xv) with respect to each Mortgage Pool, the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance the Bulk PMI Policy and any LPMI Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates Rate of the Certificates; (xx) Based upon information provided by the Depositor, the aggregate principal balance of any Subsequent Mortgage Loans acquired by the Trust Fund in the preceding Collection Period and based upon information provided by the Trustee, the amount of funds remaining in each Pre-Funding Account (after taking into account such acquisition); and the amount of funds remaining in the Capitalized Interest Account (after giving effect to distributions on such Distribution Date); and (xxxxi) the amount of any payments made by the Cap Provider Counterparty to the Trust Fund under the Cap Agreement. In the case of information furnished pursuant to subclauses (i), (ii) and (vi) above, the amounts shall also (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator based solely on Mortgage Loan data provided to the Securities Administrator by the Master Servicer (in a format agreed to by the Securities Administrator and the Master Servicer) no later than 12:00 p.m.(noon) p.m. Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) p.m. Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall be promptly forwarded to the Securities Administrator, the Securities Administrator shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the Trustee. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information). (d) The Securities Administrator shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information).

Reports to Certificateholders. (a) On each Distribution DateDate on or prior to a Section 7.01(c) Purchase Event or a Trust Fund Termination Event, the Securities Administrator Trustee shall have prepared prepare (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderServicer) and shall make available to the Trustee, any NIMS Insurer, the Credit Risk Manager each Certificateholder and each Certificateholder Rating Agency a report setting forth the following information (on the basis of Mortgage Loan level information obtained from the ServicersServicers and the Master Servicer): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates Certificates, other than any Class of Notional Certificates, and in respect of each Component, to the extent applicable, allocable to principal on the Mortgage Loans, including any Subsequent Recovery, Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principalprincipal in each Collateral Group; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates, other than the Class AP Certificates and in respect of each Component, allocable to interest and interest, including any Accrual Amount added to the calculation thereofClass Principal Amount of any Class of Accrual Certificates; (iii) the amount, if any, of any distribution to the Holders of the Class P Certificates, the Class X Certificates and the a Residual Certificate; (iv) for each Collateral Group and in the aggregate, (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers Master Servicer or any Servicer (or the Master ServicerTrustee) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) the total number of Mortgage Loans, the aggregate Scheduled Aggregate Principal Balance of all the Mortgage Loans as and the Collateral Group of the close of business on the last day of the related Collection Periodeach Collateral Group for such Distribution Date, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, and the Component Notional Amount of each Component as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) aboveabove (and to the addition of any Accrual Amount in the case of any Class of Accrual Certificates), separately identifying any reduction of any of the foregoing Certificate Principal Amounts or Component Notional Amounts due to Applied Loss AmountsRealized Losses; (vii) for each Collateral Group and in the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) the amount of aggregate, any Realized Losses incurred realized with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date, stating separately the amount of Special Hazard Losses, Fraud Losses and Bankruptcy Losses and the aggregate amount of such Realized Losses, and the remaining Special Hazard Loss Amount, Fraud Loss Amount and Bankruptcy Loss Amount; (ixviii) the amount of the Securities Administrator Fees, Trustee Fees, Master Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums Servicing Fees paid during the Collection Due Period to which such distribution relates; (xix) the number and aggregate Scheduled Principal Balance of Mortgage LoansLoans in each Collateral Group and in the aggregate, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basisdelinquent one month, (c) Delinquent 60 to 89 days on a contractual basisdelinquent two months, (d) Delinquent 90 delinquent three or more days on a contractual basismonths, and (e) as to which foreclosure proceedings have been commenced, commenced as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, ; (fx) the deemed principal balance of each REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in bankruptcy and (g) that are REO Propertieswhich such Distribution Date occurs; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property any Mortgage Loan that became a an REO Property during the preceding calendar month, the principal balance of such Mortgage Loan and the number of such Mortgage Loans as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Interest Shortfalls and Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution distributions made on such Distribution Date; (xiv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates; (xv) the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xviixvi) the amount of any Overcollateralization Deficiency Class P Distributable Amount allocated to the Class P Certificates for that Distribution Date; (xvii) the aggregate outstanding Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for the Class 1-A1 Certificates, after giving effect to the distributions distribution made in on such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates of the Certificates; and (xx) the amount of any payments made by the Cap Provider Counterparty to the Trust Fund under the Class 1-A1 Cap Agreement. ; and In the case of information furnished pursuant to subclauses (i), (ii) and (vivii) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. On any Distribution Date after the occurrence of a Section 7.01(c) Purchase Event, the information required by subclauses (i), (iii), (iv), (v), (vii), (viii), (ix), (x), (xi), (xii) and (xvi) shall be provided to the Holder of the LT-R Certificate and the LTURI-holder with regard to the Lower Tier REMIC 1 Uncertificated Regular Interests in lieu of the Certificates. The Securities Administrator shall Trustee will make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities AdministratorTrustee’s internet website. The Securities Administrator’s internet website shall , initially be located at “▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇.▇▇▇. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating suchupon request. The Securities Administrator Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above above-parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above above-parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator Trustee based solely on Mortgage Loan data provided to the Securities Administrator Trustee by the Master Servicer (in a format agreed to by the Securities Administrator Trustee and the Master Servicer) no later than 12:00 p.m.(noon) 2:00 p.m. Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information Mortgage Loan data to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator Master Servicer shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator Master Servicer shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Trustee shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall will be promptly forwarded to the Securities AdministratorMaster Servicer, the Securities Administrator Master Servicer shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator Master Servicer shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the such Master Servicer’s actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections Section 4.03(a)(i) and 4.03(a)(ii(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the TrusteeFund. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information)reports. (d) The Securities Administrator shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information).

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderSwap Counterparty) and shall make available to the Trustee, any NIMS Insurer, the Swap Counterparty, the Credit Risk Manager Manager, the Certificate Insurer and each Certificateholder a report setting forth the following information (on the basis of Mortgage Loan level information obtained from the Servicers): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and the calculation thereof; (iii) the amount, if any, of any distribution to the Holders of the Class P CertificatesCertificate, the Class X Certificates and the Residual Certificate; (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers (or the Master Servicer) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) by Mortgage Pool and in the aggregate, the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts; (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) by Mortgage Pool and in the aggregate, the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ix) the amount of the Securities Administrator Fees, Trustee Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool PMI Insurance Premiums paid during the Collection Period to which such distribution relates; (x) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, all as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans in any Mortgage Pool with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xiv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates; (xv) with respect to each Mortgage Pool, the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance the Bulk PMI Policy and any LPMI Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates of the Certificates; andfor such Distribution Date; (xx) the amount of any payments made by the Cap Provider Net Swap Payment to the Supplemental Interest Trust Fund made pursuant to Section 5.02, any Net Swap Payment to the Swap Counterparty made pursuant to Section 5.02, any Swap Termination Payment to the Supplemental Interest Trust made pursuant to Sections 5.02 and any Swap Termination Payment to the Swap Counterparty made pursuant to Section 5.02; (xxi) the amount of the Class A8 Insurance Premium and Class A9 Insurance Premium (or the related Aggregate Certificate Insurance Premium, if different) due to the Certificate Insurer on the related Distribution Date and the amount of any Insured Amounts paid to the Insured Certificates paid out of the Policy Payments Account under the Cap Agreementrelated Certificate Insurance Policy; (xxii) the amount of any Class A9 Deferred Amount Interest; and (xxiii) whether a Sequential Trigger Event is in effect for such Distribution Date. In the case of information furnished pursuant to subclauses (i), (ii) and (vi) above, the amounts shall also (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders Certificateholders, the Certificate Insurer and the Rating Agencies via the Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator based solely on Mortgage Loan data provided to the Securities Administrator by the Master Servicer (in a format agreed to by the Securities Administrator and the Master Servicer) no later than 12:00 p.m.(noon) 2:00 p.m. Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator shall be entitled to rely conclusively on the accuracy of the information or data (i) regarding the Mortgage Loans and the related REO Property Property, that has been provided to the Securities Administrator by the Master Servicer and (ii) regarding the Swap Agreement, that has been provided to the Securities Administrator by each Servicerthe Swap Counterparty, and the Securities Administrator shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time p.m. New York City time one Business Day prior to the Distribution Date; provided, however, that the Securities Administrator will provide notice to the Trustee if a claim for an Insured Amount or any Regular Payment is required to be made by the Certificate Insurer, and the amount thereof, no later than 10:00 a.m. New York City time on the second Business Day prior to a Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, or the Certificate Insurer which request, if received by the Trustee, shall be promptly forwarded to the Securities Administrator, the Securities Administrator shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the Trustee. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer Securities Administrator shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information). (d) The Securities Administrator shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information).

Reports to Certificateholders. (a) On Unless otherwise specified in the applicable Series Supplement, on the next Business Day following each such Distribution Date, the Securities Administrator shall have prepared (based solely on information provided by the Master Servicer and Date the Trustee or the Cap Provider) and Administrative Agent, if any, as specified in such Series Supplement, shall make available forward or cause to be forwarded to the TrusteeTrustor, any NIMS Insurer, the Credit Risk Manager and each Certificateholder of such Series and such other Persons as may be specified in such Series Supplement, a report statement setting forth the following information (on the basis of Mortgage Loan level information obtained from the Servicers):forth: (i) the aggregate amount of applicable record dates, accrual dates, determination dates for calculating distributions and actual distribution dates for the distribution to be made on such Distribution Date to the Holders of each Class of Certificates other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principalperiod; (ii) the aggregate amount of cash flows received and the sources thereof relating to the distribution to be made on such Distribution Date to the Holders Certificateholders of each Class of Certificates such Series allocable to principal and premium, if any, and interest on the Certificates of each such Class; and the calculation thereofamount of aggregate unpaid interest accrued as of such Distribution Date; (iii) the amountamount of fees, if any, of any distribution to the Holders of the Class P Certificates, the Class X Certificates compensation and expenses accrued and paid and the Residual Certificateparty receiving such fees and expenses and such other customary information as the Trustee and Administrative Agent, as applicable, deems necessary or desirable, or that any such Certificateholder reasonably requests, to enable such Certificateholders to prepare their tax returns; (Aiv) the aggregate amount of payments accrued or paid relating to any Advances required to be made by or on behalf provider of Credit Support and the Servicers (or the Master Servicer) with respect to party receiving such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) abovepayments; (v) the total amount of excess cash flow or excess spread, if any; (vi) the original and thereafter, the number and the aggregate stated principal amount and, if applicable, Notional Amount of Mortgage Loansthe Underlying Securities related to such Series at the close of business on such Distribution Date; (vii) the original and thereafter, the aggregate Scheduled Principal Balance Stated Amount (or Notional Amount, if applicable) of all each Class of such Series for such Distribution Date; (viii) in the Mortgage Loans case of each Class of Floating Rate Certificates of such Series, the respective Floating Pass Through Rate applicable to each such Class on such Distribution Date, as calculated in accordance with the method specified in such Certificates and the related Series Supplement; (ix) [RESERVED] (x) as to any Series (or any Class within such Series) for which Credit Support has been obtained, the amount or Notional Amount of coverage of each element of Credit Support (and rating, if any, thereof) included therein as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts; (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ix) the amount of the Securities Administrator Fees, Trustee Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums paid during the Collection Period to which such distribution relates; (x) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance original and thereafter, the number and amount of any Mortgage Loans with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which Underlying Securities for such Distribution Date occursDate; (xii) with respect to substitution of Mortgage Loans in the preceding calendar monthdelinquency and loss information for such distribution period, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loanif applicable; (xiii) if the Series Supplement provides for Advances, the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfallsamount of Advances, if any, for each Class included in such distribution, and the aggregate amount of Certificatesunreimbursed Advances, after giving effect to if any, at the distribution made close of business on such Distribution Date; (xiv) if the Certificate Interest Rate applicable Series Supplement provides for modifications, extensions or waivers to the Underlying Securities terms, fees, penalties or payments during the distribution period, descriptions of such Distribution Date with respect to each Class of Certificatesmaterial extensions or waivers; (xv) material breaches of Underlying Securities representations or warranties or other transaction covenants of which the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution DateTrustee or Administrative Agent has actual notice; (xvi) if applicablethe Series Supplement provides for early amortization, liquidation or other performance triggers, information on ratio, information relating to coverage or other tests used for determining any early amortization, liquidation or other performance triggers and whether the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed);trigger was met; and (xvii) if the amount Series Supplement provides for the issuance of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates of the Certificates; and (xx) the amount of any payments made securities secured by the Cap Provider Underlying Securities, material information relating to the Trust Fund under the Cap Agreementsuch issuance. In the case of information furnished pursuant to subclauses (i), (ii) and (viiii) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar Dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator based solely on Mortgage Loan data provided to the Securities Administrator by the Master Servicer (in a format agreed to by the Securities Administrator and the Master Servicer) no later than 12:00 p.m.(noon) Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall be promptly forwarded to the Securities Administrator, the Securities Administrator shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer equivalent thereof in any other Specified Currency) per minimum denomination of Certificates or for the actual expenses incurred in providing such reports and access. (c) other specified portion thereof. Within 90 days, or such shorter a reasonable period as may be required by statute or regulation, of time after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available furnish to any NIMS Insurer and each Person person who at any time during the each such calendar year was a Certificateholder of record, and make available to Certificate Owners a statement containing the information set forth in subclauses (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(iii) and 4.03(a)(ii(iii) on an annual basis as may be required to enable any NIMS Insurer and above, aggregated for such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be calendar year or the applicable where relevant reports or summaries are required elsewhere in this Agreementportion thereof during which such person was a Certificateholder. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses obligation of the Trust Fund furnished by the Master Servicer to the Trustee. The Trustee shall be deemed to have been satisfied this requirement if it forwards such to the extent that substantially comparable information in any other format permitted shall be provided by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee pursuant to prepare such reports (and the Trustee may rely solely upon such information). (d) The Securities Administrator shall furnish any other information that is required by requirements of the Code and regulations thereunder the Treasury Regulations as are from time to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information)time in effect.

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator Trustee shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderServicer) and shall make available to the Trustee, any NIMS Insurer, the Credit Risk Manager and each Certificateholder a written report setting forth the following information (on the basis of Mortgage Loan level information obtained from the Servicers):). (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and the calculation thereof; (iii) the amount, if any, of any distribution to the Holders of the Class P CertificatesCertificate, the Class X Certificates Certificate and the Residual Certificate; (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers (or the Master Servicer) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) by Mortgage Pool and in the aggregate, the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts; (vii) the amount of any all Prepayment Premiums distributed to the Class P Certificates; (viii) by Mortgage Pool and in the aggregate, the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ix) the amount of the Securities Administrator Fees, Trustee Fees, the Servicing Fees, Credit Risk Manager’s Fees and Pool PMI Insurance Premiums paid during the Collection Period to which such distribution relates; (x) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, commenced as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans in either Mortgage Pool with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Net Prepayment Interest Excess, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xiv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates; (xv) with respect to each Mortgage Pool, the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any the insurance claim payments received with respect to each Pool Insurance Policy the Bulk PMI Policies during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates Rate of the LIBOR Certificates; and (xx) the amount of any payments made by the Cap Provider to the Trust Fund under the Basis Risk Cap Agreementand the Class X Cap. In the case of information furnished pursuant to subclauses (i), (ii) and (viviii) above, the amounts shall (except in the case of the report delivered to the holder of the Class X CertificatesCertificate) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall Trustee will make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the TrusteeCertificateholders, any NIMS Insurer, Certificateholders Insurer and the Rating Agencies via the Securities AdministratorTrustee’s internet website. The Securities AdministratorTrustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities AdministratorTrustee’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator Trustee based solely on Mortgage Loan data provided to the Securities Administrator Trustee by the Master Servicer (in a format agreed to by the Securities Administrator Trustee and the Master Servicer) no later than 12:00 p.m.(noon) Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator Trustee shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator Trustee shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Trustee shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or and any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall be promptly forwarded to the Securities Administrator, the Securities Administrator Trustee shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator Trustee shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(iiSection 4.03(a) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, however that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the TrusteeFund. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information)shall provide any NIMS Insurer with the required tax information applicable to any NIMS Insurer. (d) The Securities Administrator Trustee shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator Trustee with such information as is necessary for the Securities Administrator Trustee to prepare such reports (and the Securities Administrator may rely solely upon such information)reports.

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderSwap Counterparty) and shall make available to the Trustee, any NIMS Insurer, the Swap Counterparty, the Credit Risk Manager and each Certificateholder a report setting forth the following information (on the basis of Mortgage Loan level information obtained from the Servicers): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and the calculation thereof; (iii) the amount, if any, of any distribution to the Holders of the Class P CertificatesCertificate, the Class X Certificates and the Residual Certificate; (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers (or the Master Servicer) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) by Mortgage Pool and in the aggregate, the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts; (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) by Mortgage Pool and in the aggregate, the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ix) the amount of the Securities Administrator Fees, Trustee Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool PMI Insurance Premiums paid during the Collection Period to which such distribution relates; (x) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, all as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans in any Mortgage Pool with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xiv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates; (xv) with respect to each Mortgage Pool, the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance the Bulk PMI Policy and any LPMI Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates Rate of the Certificates; and (xx) the amount of any payments made by the Cap Provider Net Swap Payment to the Supplemental Interest Trust Fund under made pursuant to Section 5.02, any Net Swap Payment to the Cap AgreementSwap Counterparty made pursuant to Section 5.02, any Swap Termination Payment to the Supplemental Interest Trust made pursuant to Sections 5.02 and any Swap Termination Payment to the Swap Counterparty made pursuant to Section 5.02. In the case of information furnished pursuant to subclauses (i), (ii) and (vi) above, the amounts shall also (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator based solely on Mortgage Loan data provided to the Securities Administrator by the Master Servicer (in a format agreed to by the Securities Administrator and the Master Servicer) no later than 12:00 p.m.(noon) 2:00 p.m. Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator shall be entitled to rely conclusively on the accuracy of the information or data (i) regarding the Mortgage Loans and the related REO Property Property, that has been provided to the Master Servicer by each ServicerServicer and (ii) regarding the Swap Agreement, that has been provided by the Swap Counterparty, and the Securities Administrator shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) p.m. Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall be promptly forwarded to the Securities Administrator, the Securities Administrator shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the Trustee. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information). (d) The Securities Administrator shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information).

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator Trustee shall have prepared prepare (based solely on information provided by the Master Servicer Servicer, the Group 1 Cap Counterparty, the Group 1 Swap Counterparty, the Balance Guaranteed Cap Counterparty or the Group 2 Cap Counterparty and, in the case of the payment of Certificate Insurance Premiums, Insured Amounts and Reimbursement Amounts and any amounts received from or paid to the Certificate Insurer, based on information provided by the Trustee (or the Cap ProviderPaying Agent on behalf of the Trustee)) and shall make available to the TrusteeCertificateholders, the Certificate Insurer, any NIMS InsurerInsurer and the Group 1 Swap Counterparty a written report, which may be in electronic form (the Credit Risk Manager and each Certificateholder a report “Distribution Date Statement”) setting forth the following information (on the basis of Mortgage Loan level information obtained from the Servicers):). (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates Certificates, other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and the calculation thereof; (iii) the amount, if any, of any distribution distributions to the Holders of the Class P I-P, Class II-P, Class I-X, Class II-X, Class I-LT-R, Class II-LT-R, Class I-R and Class II-R Certificates, on such Distribution Date, stated separately, and the aggregate amounts, if any, of distributions to the Holders of the Class X I-P, Class II-P, Class I-X, Class II-X, Class I-LT-R, Class II-LT-R, Class I-R and Class II-R Certificates and the Residual Certificateon all Distribution Dates, stated separately; (iv) the amount, if any, of distributions to the I-CX Component, the I-SX Component, the I-XS Component, the II-CX Component and the II-XS Component on such Distribution Date, stated separately, and the aggregate amounts, if any, of distributions on the I-CX Component, the I-SX Component, the I-XS Component, the II-CX Component and the II-XS Component on all Distribution Dates, stated separately; (v) (A) by Mortgage Pool and in the aggregate, the aggregate amount of any Advances required to be made with respect to the related Collection Period by or on behalf of the Servicers (or the Master Servicer) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (vvi) by Mortgage Pool and in the aggregate, the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vivii) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Pool 1 Applied Loss Amounts and/or Pool 2 Applied Loss Amounts, as applicable; (viiviii) the amount of any Prepayment Premiums distributed to the Class I-P and Class II-P Certificates; (viiiix) by Mortgage Pool and in the aggregate, the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ixx) by Mortgage Pool and in the aggregate, the amount of the Securities Administrator Fees, Trustee Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool PMI Insurance Premiums Premiums, if applicable to such Mortgage Pool, paid during the Collection Period to which such distribution relates; (xxi) by Mortgage Pool and in the aggregate, the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, commenced as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO PropertiesProperties (the information in this item (xi) to be calculated using the OTS delinquency method); (xixii) by Mortgage Pool and in the aggregate, the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xiixiii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiiixiv) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Deferred Amounts, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each applicable Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xivxv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of CertificatesCertificates (with a notation if such Certificate Interest Rate reflects the application of the applicable Net Funds Cap); (xvxvi) the Interest Remittance Amount and the Principal Remittance Amount with respect to each Mortgage Pool and the Pool 1 Senior Principal Distribution Amount, Pool 2 Senior Principal Distribution Amount, Pool 1 Overcollateralization Release Amount and Pool 2 Overcollateralization Release Amount applicable to such Distribution Date; (xvixvii) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xviixviii) the Pool 1 Overcollateralization Amount and Pool 2 Overcollateralization Amount after giving effect to the distributions made on such Distribution Date; (xix) the amount of any Pool 1 Overcollateralization Deficiency Amount and Pool 2 Overcollateralization Deficiency after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xixxx) the level of LIBOR and the Certificate Interest Rates Rate of each of the LIBOR Certificates and the Interest-Only Certificates; and; (xxxxi) the amount of the monthly Certificate Insurance Premium (and the Aggregate Certificate Insurance Premium if different) due to the Certificate Insurer on the related Distribution Date and the amount of any Insured Amounts paid in respect of the Insured Distributions to the Insured Certificates paid out of the Policy Payment Account under the Certificate Insurance Policy and any Reimbursement Amounts paid to the Certificate Insurer; (xxii) the amount of any payments made by the Group 1 Cap Provider Counterparty to the Supplemental Interest Trust under the Group 1 Cap Agreement, by the Balance Guaranteed Cap Counterparty to the Trust Fund under the Balance Guaranteed Cap Agreement and by the Group 2 Cap Counterparty to the Trust Fund under the Group 2 Cap Agreement; (xxiii) the amount of any Net Swap Payment to the Supplemental Interest Trust made pursuant to Section 5.02, any Net Swap Payment to the Group 1 Swap Counterparty made pursuant to Section 5.02, any Swap Termination Payment to the Supplemental Interest Trust made pursuant to Sections 5.02 and any Swap Termination Payment to the Group 1 Swap Counterparty made pursuant to Section 5.02; (xxiv) the amount of any FPD Premiums, if any, for such Distribution Date; and (xxv) whether a Pool 1 Trigger Event or Pool 2 Trigger Event is in effect for that Distribution Date. In addition to the information listed above, for every year in which the Depositor is subject to Exchange Act reporting with respect to the Certificates, such Distribution Date Statement shall also include such other information as is required by Item 1121 (§ 229.1121) of Regulation AB to the extent that the Trustee shall have received any such information from the Depositor, the Sponsor, the Master Servicer, the Servicers, the Custodians, the Group 1 Swap Counterparty, the Cap Counterparty or any Subservicer or Subcontractor therefor, as applicable, no later than four Business Days prior to the Distribution Date. In the case of information furnished pursuant to subclauses (i), (ii) and (vi) above, the amounts shall (except in the case of the report delivered with respect to the holder of Class I-X and Class II-X Certificates and the Class X CertificatesI-CX and I-SX Component) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. On any Distribution Date after the occurrence of a Section 7.01(d) Purchase Event with respect to the Pooling REMIC I Regular Interests or the Pooling REMIC II Regular Interests, the information required by subclauses (i), (iii), (v), (viii), (ix), (x), (xi), (xii), (xiii), (xvi), (xix), (xxi) and (xxii) (and in the case of the Class I-LT-R and Class II-LT-R Certificates, subclause (iii)) shall be provided to the Holder of the Class I-LT-R and/or Class II-LT-R Certificates and the LTURI-holder of the applicable Pooling REMIC Regular Interests. The Securities Administrator Trustee shall make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) provided to it by the Master Servicer available each month to Certificateholders, the TrusteeCertificate Insurer, any NIMS Insurer, Certificateholders Insurer and the Rating Agencies via the Securities AdministratorTrustee’s internet website. The Securities AdministratorTrustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇.” ”. Assistance in using the website can be obtained by calling the Securities AdministratorTrustee’s customer service desk at ▇-(▇▇▇-) ▇▇▇-▇▇▇▇. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating suchupon request. The Securities Administrator Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator Trustee based solely on Mortgage Loan data provided to the Securities Administrator Trustee by the Master Servicer (in a format agreed to by the Securities Administrator Trustee and the Master Servicer) no later than 12:00 p.m.(noon2:00 p.m. New York City time four (4) Eastern Standard Time four Business Days prior to the Distribution Date, and on the information provided to the Trustee by the Group 1 Swap Counterparty, the Group 1 Cap Counterparty, the Balance Guaranteed Cap Counterparty and the Group 2 Cap Counterparty. In preparing or furnishing the foregoing information to the TrusteeCertificateholders, Certificateholders the Certificate Insurer and any NIMS Insurer, the Securities Administrator Trustee shall be entitled to rely conclusively on the accuracy of the information or data (i) regarding the Mortgage Loans (including any First Payment Default Mortgage Loans) and the related REO Property that has been provided to the Master Servicer by each ServicerServicer and to the Trustee by the Master Servicer and (ii) regarding the Group 1 Swap Agreement, the Group 1 Cap Agreement, the Balance Guaranteed Cap Agreement and the Group 2 Cap Agreement, that has been provided to the Trustee by the Group 1 Swap Counterparty, the Group 1 Cap Counterparty, the Balance Guaranteed Cap Counterparty or the Group 2 Cap Counterparty, respectively, and the Securities Administrator Trustee shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Trustee shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The Master Servicer shall be entitled to conclusively rely on the Mortgage Loan data provided by each Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee Paying Agent (if other than the Trustee) by the Securities Administrator Trustee no later than 12:00 p.m.(noon) Eastern Standard Time one p.m. New York City time two Business Day Days prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, company or the Certificate Insurer (which request, if received by the Trustee, Trustee shall be promptly forwarded to the Securities AdministratorMaster Servicer), the Securities Administrator Master Servicer shall provide, or cause to be provided, to the extent such information is available to the Master Servicer exercising reasonable efforts to obtain such information (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer, the Certificate Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer, the Certificate Insurer or and such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to the NIM Securities or an investment in the Certificates; provided, however, that the Securities Administrator Master Servicer shall be entitled to be reimbursed by such Certificateholder or the NIMS Certificate Insurer for the actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared shall, upon written request, prepare and the Trustee shall make available to any NIMS Insurer and to each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections Section 4.03(a)(i) and 4.03(a)(ii(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the TrusteeFund. The Trustee shall be deemed to have satisfied this requirement if it forwards makes available such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports to the extent reasonably available (and the Trustee may rely solely upon such information). (d) The Securities Administrator Trustee shall prepare and file with the Internal Revenue Service (“IRS”), on behalf of the Trust Fund, an application for an employer identification number on IRS Form SS-4 or by any other acceptable method. The Trustee shall also file a Form 8811 as required. The Trustee, upon receipt from the IRS of the Notice of Taxpayer Identification Number Assigned, shall upon request promptly forward a copy of such notice to the Master Servicer and the Depositor. The Trustee shall, to the extent reasonably available, furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer Servicer, to the extent reasonably available, shall provide the Securities Administrator Trustee with such information as is necessary for the Securities Administrator Trustee to prepare such reports comply with the foregoing. (e) So long as not prohibited by applicable law, the Master Servicer shall provide to the Depositor or to any party designated by the Depositor, as promptly as practicable upon the Depositor's request, any and all loan-level information that the Securities Administrator Depositor may rely solely upon such information)request in any format reasonably requested by the Depositor.

Reports to Certificateholders. (a) On Unless otherwise specified in the applicable Series Supplement, on the next Business Day following each such Distribution Date, the Securities Administrator shall have prepared (based solely on information provided by the Master Servicer and Date the Trustee or the Cap Provider) and Administrative Agent, if any, as specified in such Series Supplement, shall make available forward or cause to be forwarded to the TrusteeDepositor, any NIMS Insurer, the Credit Risk Manager and each Certificateholder of such Series and such other Persons as may be specified in such Series Supplement, a report statement setting forth the following information (on the basis of Mortgage Loan level information obtained from the Servicers):forth: (i) the aggregate amount amounts received by the Trustee as of the distribution to be made on last such Distribution Date to the Holders statement in respect of each Class of Certificates other than any Class of Notional Certificatesprincipal, to the extent applicable, allocable to principal interest and premium on the Mortgage LoansUnderlying Securities, including Liquidation Proceeds the Swap Receipt Amount, if any, and Insurance ProceedsSwap Termination Amounts, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principalif any; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders Certificateholders of each Class of Certificates such Series allocable to principal of and premium, if any, and interest on the Certificates of each such Class; and the calculation thereofamount of aggregate unpaid interest accrued as of such Distribution Date; (iii) the amountSwap Distribution Amount, if any, of any distribution to the Holders of the Class P Certificates, the Class X Certificates and the Residual CertificateSwap Termination Amount, if any, for such date; (Aiv) in the aggregate amount case of any Advances required each Class of Floating Rate Certificates of such Series, the respective Floating Pass Through Rate applicable to be made by or each such Class on behalf of the Servicers (or the Master Servicer) with respect to such Distribution Date, (B) as calculated in accordance with the aggregate amount of method specified in such Advances actually made, Certificates and (C) the amount, if any, by which (A) above exceeds (B) aboverelated Series Supplement; (v) the total number amount of Mortgage Loanscompensation received by the Trustee and any Administrative Agent and such other customary information as the Trustee or Administrative Agent, as applicable, deems necessary or desirable, or that any such Certificateholder reasonably requests, to enable such Certificateholder to prepare its tax returns; (vi) if the Series Supplement provides for Advances, the aggregate Scheduled amount of Advances, if any, included in such distribution, and the aggregate amount of unreimbursed Advances, if any, at the close of business on such Distribution Date; (vii) the aggregate stated principal amount and, if applicable, notional amount of the Underlying Securities related to such Series and the current interest rate or rates thereon at the close of business on such Distribution Date; (viii) the aggregate Certificate Principal Balance Amount (or Notional Amount, if applicable) of all each Class of such Series at the Mortgage Loans close of business on such Distribution Date, separately identifying any reduction in such aggregate Certificate Principal Amount or Notional Amount due to the allocation of any Realized Losses on such Distribution Date or otherwise; and (ix) as to any Series (or any Class within such Series) for which Credit Support has been obtained, the amount or notional amount of coverage of each element of Credit Support (and rating, if any, thereof) included therein as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts; (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ix) the amount of the Securities Administrator Fees, Trustee Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums paid during the Collection Period to which such distribution relates; (x) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xiv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates; (xv) the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates of the Certificates; and (xx) the amount of any payments made by the Cap Provider to the Trust Fund under the Cap Agreement. In the case of information furnished pursuant to subclauses (i), (ii) and (viiv) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar Dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator based solely on Mortgage Loan data provided to the Securities Administrator by the Master Servicer (in a format agreed to by the Securities Administrator and the Master Servicer) no later than 12:00 p.m.(noon) Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall be promptly forwarded to the Securities Administrator, the Securities Administrator shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer equivalent thereof in any other Specified Currency) per minimum denomination of Certificates or for the actual expenses incurred in providing such reports and access. (c) other specified portion thereof. Within 90 days, or such shorter a reasonable period as may be required by statute or regulation, of time after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available furnish to any NIMS Insurer and each Person person who at any time during the each such calendar year was a Certificateholder of record, and make available to Certificate Owners a statement containing the information set forth in subclauses (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(iii) and 4.03(a)(ii(iv) on an annual basis as may be required to enable any NIMS Insurer and above, aggregated for such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be calendar year or the applicable where relevant reports or summaries are required elsewhere in this Agreementportion thereof during which such person was a Certificateholder. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses obligation of the Trust Fund furnished by the Master Servicer to the Trustee. The Trustee shall be deemed to have been satisfied this requirement if it forwards such to the extent that substantially comparable information in any other format permitted shall be provided by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee pursuant to prepare such reports (and the Trustee may rely solely upon such information). (d) The Securities Administrator shall furnish any other information that is required by requirements of the Code and regulations thereunder the Treasury Regulations as are from time to be made available to Certificateholderstime in effect. The Master Servicer Trustee shall provide supply to Certificateholders who so request all materials received by the Trustee from the Underlying Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information)Issuer.

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator Trustee shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the Cap Provider) and shall make available to the Trustee, any NIMS InsurerDepositor, the Credit Risk Manager Rating Agencies and each Certificateholder a written report setting forth the following information (on the basis of Mortgage Loan level information obtained from the ServicersServicer pursuant to the Servicing Agreement): (ia) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (iib) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and the calculation thereof; (iiic) the amount, if any, of any distribution distributions to the Holders of the Class P CertificatesP, Class OC and Class R Certificates on such Distribution Date, stated separately, and the aggregate amounts, if any, of distributions to the Holders of the Class X P, Class OC and Class R Certificates and the Residual Certificateon all Distribution Dates, stated separately; (Ad) the aggregate amount of any P&I Advances required to be made by or on behalf of the Servicers (or the Master Servicer) Servicer with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (ve) the total number of Mortgage Loans, the aggregate Scheduled Stated Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Due Period, after giving effect to payments allocated to principal reported under clause (ia) above; (vif) the Class Principal Amount (or Class Notional Amount) Balance of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Class Principal Amounts Balances due to Applied Loss AmountsRealized Losses; (viig) the amount of any Prepayment Premiums Penalties distributed to the Class P Certificates; (viiih) the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ixi) the amount of the Securities Administrator Fees, Trustee Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums paid or retained by the Servicer during the Collection Due Period to which such distribution relates; (xj) the number and aggregate Scheduled Stated Principal Balance of Mortgage Loans, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, each as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties, (h) that are Charged-off Loans and (i) that are Released Mortgage Loans; (xik) the aggregate Scheduled Stated Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property became a REO Property Property, each as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xiil) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Stated Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Replacement Mortgage Loan; (xiiim) the aggregate outstanding Interest Carryforward InterestAmount, Net Prepayment Interest Shortfalls, Shortfalls and Basis Risk Shortfalls and Unpaid Basis Risk ShortfallsCarryforward Amount, if any, for each applicable Class of Certificates, after giving effect to the distribution distributions made on such Distribution Date; (xivn) the Certificate Interest Pass-Through Rate applicable to such Distribution Date with respect to each Class of CertificatesCertificates (with a notation if such Pass-Through Rate reflects the application of the Net WAC Cap); (xvo) the Available Distribution Amount, the Interest Remittance Amount and Amount, the Principal Remittance Distribution Amount applicable to such Distribution Date; (xvip) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Distribution Account and the amounts actually distributed); (xviiq) the amount of any Overcollateralization Deficiency Overcollateralized Amount after giving effect to the distributions made in on such Distribution Date; (xviiir) the aggregate amount of any insurance claim payments received with respect Overcollateralization Increase Amount after giving effect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance;distributions made on such Distribution Date; and (xixs) the level of LIBOR for such Distribution Date and the Certificate Interest Rates level of LIBOR for the Certificates; and (xx) the amount of any payments made by the Cap Provider to the Trust Fund under the Cap Agreement. In the case of information furnished pursuant to subclauses (i), (ii) and (vi) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificatesfollowing Distribution Date. The Securities Administrator Trustee shall make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) reports available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities Administrator’s internet website. The Securities Administrator’s internet its website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇.” . Assistance in using the website can may be obtained by calling the Securities AdministratorTrustee’s customer service desk at ▇-(▇▇▇-) ▇▇▇-▇▇▇▇. Such Certificateholders and other parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling contacting the customer service desk Trustee and indicating such. The Securities Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator based solely on Mortgage Loan data provided to the Securities Administrator by the Master Servicer (in a format agreed to by the Securities Administrator and the Master Servicer) no later than 12:00 p.m.(noon) Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurerreports, the Securities Administrator Trustee shall be entitled to rely conclusively on the accuracy and completeness of the information or data regarding the Mortgage Loans and the related REO Property Properties that has been provided to the Master Servicer Trustee by each the Servicer, without any independent investigation, and the Securities Administrator Trustee shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall be promptly forwarded to the Securities Administrator, the Securities Administrator Trustee shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a the Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such the Servicer, and provide) to any NIMS Insurer and such Certificateholder Certificateholders such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder Certificateholders may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator Trustee shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer Certificateholders for the Trustee’s actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the Trustee. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information). (d) The Securities Administrator shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information).

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator Trustee shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderSwap Counterparty) and shall make available to the Trustee, any NIMS InsurerSwap Counterparty, the Credit Risk Manager and each Certificateholder a report setting forth the following information (on the basis of Mortgage Loan level information obtained from the ServicersMaster Servicer and from the Swap Counterparty with respect to payments made under the Swap Agreement): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and the calculation thereof; (iii) the amount, if any, of any distribution to the Holders of the Class P CertificatesCertificate, the Class X Certificates and the Residual Certificate; (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers (or the Master Servicer) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts; (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ix) the amount of the Securities Administrator Fees, Trustee Fees, the Servicing Fees, Fees and the Credit Risk Manager’s Fees and Pool Insurance Premiums paid during the Collection Period to which such distribution relates; (x) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, commenced as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Net Prepayment Interest Excess, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xiv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates; (xv) the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in on such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance any PMI Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates Rate of the LIBOR Certificates; and (xx) the amount of any payments made by the Cap Provider Net Swap Payment to the Supplemental Interest Trust Fund under made pursuant to Section 5.02, any Net Swap Payment to the Cap AgreementSwap Counterparty made pursuant to Section 5.02, any Swap Termination Payment to the Supplemental Interest Trust made pursuant to Sections 5.02 and any Swap Termination Payment to the Swap Counterparty made pursuant to Section 5.02. In the case of information furnished pursuant to subclauses (i), (ii) and (vi) above, the amounts shall (except in the case of the report delivered to the holder of the Class X CertificatesCertificate) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall Trustee will make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities AdministratorTrustee’s internet website. The Securities AdministratorTrustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities AdministratorTrustee’s customer service desk at ▇1-▇▇▇800-▇▇▇934-▇▇▇▇6802. Such parties that are unable to use the 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 Securities Administrator Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator Trustee based solely on Mortgage Loan data provided to the Securities Administrator Trustee by the Master Servicer (in a format agreed to by the Securities Administrator Trustee and the Master Servicer) and information regarding payments to be made under the Swap Agreement provided by the Swap Counterparty no later than 12:00 p.m.(noon) 2:00 p.m. Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS InsurerCertificateholders, the Securities Administrator Trustee shall be entitled to rely conclusively on the accuracy of the information or data (i) regarding the Mortgage Loans and the Loans, related REO Property and the Primary Mortgage Insurance Policies that has been provided to the Master Servicer by each ServicerServicer and (ii) regarding the Swap Agreement, that has been provided by the Swap Counterparty, and the Securities Administrator Trustee shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Trustee shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) Master Servicer shall be entitled to conclusively rely on the Mortgage Loan data provided to the Trustee by the Securities Administrator any Servicer and shall have no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Dateliability for any errors in such Mortgage Loan data. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall be promptly forwarded to the Securities Administrator, the Securities Administrator Trustee shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator Trustee shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(iiSection 4.03(a) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the TrusteeFund. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information)reports. (d) The Securities Administrator Trustee shall prepare and file with the Internal Revenue Service (“IRS”), on behalf of the Trust Fund, an application for an employer identification number on IRS Form SS-4 or by any other acceptable method. The Trustee shall also file a Form 8811 as required. The Trustee, upon receipt from the IRS of the Notice of Taxpayer Identification Number Assigned, shall upon request promptly forward a copy of such notice to the Master Servicer and the Depositor. The Trustee shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator Trustee with such information as is necessary for the Securities Administrator Trustee to prepare such reports (and the Securities Administrator may rely solely upon such information)reports.

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator Trustee shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderServicer) and shall make available to the Trustee, each Certificateholder and any NIMS Insurer, the Credit Risk Manager and each Certificateholder Insurer a written report setting forth the following information (on the basis of Mortgage Loan level information obtained from the Servicers):). (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and the calculation thereof; (iii) the amount, if any, of any distribution to the Holders of the Class P CertificatesCertificate, the Class X Certificates Certificate and the Residual Certificate; (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers (or the Master Servicer) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) by Mortgage Pool and in the aggregate, the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts; (vii) the amount of any all Prepayment Premiums distributed to the Class P Certificates; (viii) by Mortgage Pool and in the aggregate, the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ix) the amount of the Securities Administrator Fees, Trustee Fees, the Servicing Fees, Credit Risk Manager’s Fees and Pool PMI Insurance Premiums paid during the Collection Period to which such distribution relates; (x) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, commenced as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans in either Mortgage Pool with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Net Prepayment Interest Excess, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xiv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates; (xv) with respect to each Mortgage Pool, the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any the insurance claim payments received with respect to each Pool Insurance the Bulk PMI Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates Rate of the LIBOR Certificates; and (xx) the amount of any payments made by the Cap Provider to the Trust Fund under the Basis Risk Cap Agreementand the Class X Cap. In the case of information furnished pursuant to subclauses (i), (ii) and (viviii) above, the amounts shall (except in the case of the report delivered to the holder of the Class X CertificatesCertificate) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall Trustee will make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the TrusteeCertificateholders, any NIMS Insurer, Certificateholders Insurer and the Rating Agencies via the Securities AdministratorTrustee’s internet website. The Securities AdministratorTrustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” ”. Assistance in using the website can be obtained by calling the Securities AdministratorTrustee’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator Trustee based solely on Mortgage Loan data provided to the Securities Administrator Trustee by the Master Servicer (in a format agreed to by the Securities Administrator Trustee and the Master Servicer) no later than 12:00 p.m.(noon) Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator Trustee shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator Trustee shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Trustee shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall be promptly forwarded to the Securities Administrator, the Securities Administrator Trustee shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as such Certificateholder and any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to the NIM Securities or an investment in the Certificates; provided, however, that the Securities Administrator Trustee shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(iiSection 4.03(a) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the TrusteeFund. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information)reports. (d) The Securities Administrator Trustee shall prepare and file with the Internal Revenue Service (“IRS”), on behalf of the Trust Fund, an application for an employer identification number on IRS Form SS-4 or by any other acceptable method. The Trustee shall also file a Form 8811 as required. The Trustee, upon receipt from the IRS of the Notice of Taxpayer Identification Number Assigned, shall upon request promptly forward a copy of such notice to the Master Servicer and the Depositor. The Trustee shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator Trustee with such information as is necessary for the Securities Administrator Trustee to prepare such reports (and the Securities Administrator may rely solely upon such information)reports.

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator Trustee shall have prepared prepare (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderServicer) and shall make available to the Trustee, any NIMS Insurer, the Credit Risk Manager each Certificateholder and each Certificateholder Rating Agency a report setting forth the following information (on the basis of Mortgage Loan level information obtained from the ServicersServicers and the Master Servicer): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates Certificates, other than any Class of Notional Certificates, and in respect of each Component, to the extent applicable, allocable to principal on the Mortgage Loans, including any Subsequent Recovery, Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principalprincipal in each Mortgage Pool; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates Certificates, other than the Class AP Certificates, and in respect of each Component, allocable to interest and interest, including any Accrual Amount added to the calculation thereofClass Principal Amount of any Class of Accrual Certificates; (iii) the amount, if any, of any distribution to the Holders of the Class P Certificates, the Class X Certificates and the a Residual Certificate; (iv) for each Mortgage Pool and in the aggregate, (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers Master Servicer or any Servicer (or the Master ServicerTrustee) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) the total number of Mortgage Loans, the aggregate Scheduled Aggregate Principal Balance of all the Mortgage Loans as and the Non-AP Pool Balance of the close of business on the last day of the related Collection Periodeach Mortgage Pool for such Distribution Date, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, and the Component Principal Amount or Component Notional Amount, as applicable, of each Component as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) aboveabove (and to the addition of any Accrual Amount in the case of any Class of Accrual Certificates), separately identifying any reduction of any of the foregoing Certificate Principal Amounts, Component Principal Amounts or Component Notional Amounts due to Applied Loss AmountsRealized Losses; (vii) for each Mortgage Pool and in the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) the amount of aggregate, any Realized Losses incurred realized with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date, stating separately the amount of Special Hazard Losses, Fraud Losses and Bankruptcy Losses and the aggregate amount of such Realized Losses, and the remaining Special Hazard Loss Amount, Fraud Loss Amount and Bankruptcy Loss Amount; (ixviii) the amount of the Securities Administrator Fees, Trustee Fees, Master Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums Servicing Fees paid during the Collection Due Period to which such distribution relates; (xix) the number and aggregate Scheduled Principal Balance of Mortgage LoansLoans in each Mortgage Pool and in the aggregate, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basisdelinquent one month, (c) Delinquent 60 to 89 days on a contractual basisdelinquent two months, (d) Delinquent 90 delinquent three or more days on a contractual basismonths, and (e) as to which foreclosure proceedings have been commenced, commenced as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, ; (fx) the deemed principal balance of each REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in bankruptcy and (g) that are REO Propertieswhich such Distribution Date occurs; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property any Mortgage Loan that became a an REO Property during the preceding calendar month, the principal balance of such Mortgage Loan and the number of such Mortgage Loans as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Interest Shortfalls and Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution distributions made on such Distribution Date; (xiv) the Certificate Interest Rate or Component Interest Rate applicable to such Distribution Date with respect to each Class of CertificatesCertificates and each Component, respectively; (xv) the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed);; and (xviixvi) the amount of any Overcollateralization Deficiency Class P Distributable Amount after giving effect allocated to the distributions made in such Class P Certificates for that Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates of the Certificates; and (xx) the amount of any payments made by the Cap Provider to the Trust Fund under the Cap Agreement. In the case of information furnished pursuant to subclauses (i), (ii) and (vivii) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall Trustee will make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities AdministratorTrustee’s internet website. The Securities Administrator’s internet website shall , initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating suchupon request. The Securities Administrator Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above above-parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above above-parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator Trustee based solely on Mortgage Loan data provided to the Securities Administrator Trustee by the Master Servicer (in a format agreed to by the Securities Administrator Trustee and the Master Servicer) no later than 12:00 p.m.(noon) 2:00 p.m. Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information Mortgage Loan data to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator Master Servicer shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator Master Servicer shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Trustee shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall will be promptly forwarded to the Securities AdministratorMaster Servicer, the Securities Administrator Master Servicer shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator Master Servicer shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the such Master Servicer’s actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections Section 4.03(a)(i) and 4.03(a)(ii(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the TrusteeFund. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information)reports. (d) The Securities Administrator shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information).

Reports to Certificateholders. (a) On the Business Day next following each Distribution Date, the Securities Administrator Trustee shall have prepared (based solely on information provided by forward or cause to be forwarded to the Master Servicer Depositor, each Certificateholder, the Option Agent and the Trustee or New York Stock Exchange (or, if the Cap Provider) and shall make available to the Trustee, any NIMS Insurer, the Credit Risk Manager and each Certificateholder a report setting forth the following information (Class A-1 Certificates are no longer listed on the basis of Mortgage Loan level information obtained from New York Stock Exchange, to any exchange or securities trading system on which the Servicers):Class A-1 Certificates are then listed or quoted), a statement setting forth: (ia) the aggregate amount of the distribution to be made on such Distribution Date to the Holders Certificateholders of each Class of Certificates other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds of and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and the calculation thereof; (iii) the amountpremium, if any, and interest on the Certificates of any distribution to the Holders of the Class P Certificates, the Class X Certificates and the Residual Certificate; (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers (or the Master Servicer) with respect to each such Distribution Date, (B) the aggregate amount of such Advances actually madeClass, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts; (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ix) the amount of the Securities Administrator Fees, Trustee Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums paid during the Collection Period to which such distribution relates; (x) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, unpaid interest accrued as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xivb) the Certificate Interest Rate applicable to such Distribution Date with respect to aggregate stated principal amount of the Underlying Securities, the current rating assigned by each Class of Certificates; (xv) the Interest Remittance Amount Rating Agency thereto and the Principal Remittance Amount applicable to current interest rate thereon at the close of business on such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates of the Certificates; and (xxc) the amount aggregate Certificate Principal Balance of any payments made by the Cap Provider to Class A-1 Certificates and the Trust Fund under Aggregate Certificate Notional Amount of Class B-1 Certificates at the Cap Agreementclose of business on such Distribution Date. In the case of information furnished pursuant to subclauses subclause (i), (ii) and (via) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 minimum authorized denomination of original principal amount each class of Certificates. The Securities Administrator shall make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the website are entitled to have Within a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator based solely on Mortgage Loan data provided to the Securities Administrator by the Master Servicer (in a format agreed to by the Securities Administrator and the Master Servicer) no later than 12:00 p.m.(noon) Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator shall be entitled to rely conclusively on the accuracy reasonable period of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall be promptly forwarded to the Securities Administrator, the Securities Administrator shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, time after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available furnish to any NIMS Insurer and each Person person who at any time during the such calendar year was a Certificateholder of record, and make available to Certificate Owners a statement containing the information set forth in subclauses (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(ia) and 4.03(a)(ii(b) on an annual basis as may be required to enable any NIMS Insurer and above, aggregated for such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be calendar year or the applicable where relevant reports or summaries are required elsewhere in this Agreementportion thereof during which such person was a Certificateholder. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses obligation of the Trust Fund furnished by the Master Servicer to the Trustee. The Trustee shall be deemed to have been satisfied this requirement if it forwards such to the extent that substantially comparable information in any other format permitted shall be provided by the CodeTrustee pursuant to any requirements of the Code as are from time to time in effect. The Master Servicer shall provide In the Trustee with such information as is necessary for case of the Trustee rating furnished pursuant to prepare such reports subclause (and b) above, the Trustee may rely solely upon on an information agent such information). (d) The Securities Administrator shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information).Bloomberg L.P.

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator Trustee shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderServicer) and shall make available to the Trustee, any NIMS Insurer, the Credit Risk Manager and each Certificateholder a written report setting forth the following information information, by Mortgage Pool and Certificate Group (on the basis of Mortgage Loan level information obtained from the ServicersServicers and the Master Servicer): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates Certificates, other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principalprincipal in each Mortgage Pool; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates Certificates, other than any Class of Principal Only Certificates, allocable to interest and the calculation thereofinterest; (iii) the amount, if any, of any distribution to the Holders of the Class P Certificates, the Class X Certificates and the a Residual Certificate; (iv) (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers Master Servicer or any Servicer (or the Master ServicerTrustee) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) the total number of Mortgage Loans, the aggregate Scheduled Aggregate Principal Balance of all the Mortgage Loans as and the Non-AP Pool Balance of the close of business on the last day of the related Collection Periodeach Mortgage Pool for such Distribution Date, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts;Realized Losses: (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) the amount of any Realized Losses incurred realized with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date, stating separately the amount of Special Hazard Losses, Fraud Losses and Bankruptcy Losses and the aggregate amount of such Realized Losses, and the remaining Special Hazard Loss Amount, Fraud Loss Amount and Bankruptcy Loss Amount; (ixviii) the amount of the Securities Administrator Fees, Trustee Master Servicing Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums Trustee Fees paid during the Collection Due Period to which such distribution relates; (xix) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basisdelinquent one month, (c) Delinquent 60 to 89 days on a contractual basisdelinquent two months, (d) Delinquent 90 delinquent three or more days on a contractual basismonths, and (e) as to which foreclosure proceedings have been commenced, commenced as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, ; (fx) the deemed principal balance of each REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in bankruptcy and (g) that are REO Propertieswhich such Distribution Date occurs; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property any Mortgage Loan that became a an REO Property during the preceding calendar month, the principal balance of such Mortgage Loan and the number of such Mortgage Loans as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Interest Shortfalls and Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xiv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates, respectively; (xv) the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates of the Certificates; and (xxxvi) the amount of any payments made other "loan level" information for any Mortgage Loans that are delinquent three or more months and any REO Property held by the Cap Provider Trustee that is reported by the Master Servicer to the Trust Fund under the Cap AgreementTrustee. In the case of information furnished pursuant to subclauses (i), (ii) and (vivii) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall Trustee will make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities Administrator’s Trustee's internet website. The Securities Administrator’s Trustee's internet website shall initially be located at “"▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇.” \absmbs". Assistance in using the website can be obtained by calling the Securities Administrator’s Trustee's customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator Trustee based solely on Mortgage Loan data provided to the Securities Administrator Trustee by the Master Servicer (in a format agreed to by the Securities Administrator Trustee and the Master Servicer) no later than 12:00 p.m.(noon) 2:00 p.m. Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information Mortgage Loan data to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator Master Servicer shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator Master Servicer shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Trustee shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in On each Distribution Date, the first paragraph of this Section 4.03(a) Trustee shall be provided make available to the Trustee by Depositor a copy of the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Dateabove-described written report. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall will be promptly forwarded to the Securities AdministratorMaster Servicer, the Securities Administrator Master Servicer shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator Master Servicer shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the such Master Servicer's actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(iiSection 4.03(a) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the Trustee. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the CodeFund. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information)reports. (d) The Securities Administrator shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information).

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator Trustee shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderServicer) and shall make available to the Trustee, each Certificateholder and any NIMS Insurer, the Credit Risk Manager and each Certificateholder Insurer a written report setting forth the following information (on the basis of Mortgage Loan level information obtained from the Servicers):Servicer). (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and the calculation thereof; (iii) the amount, if any, of any distribution to the Holders of the Class P Certificates, the Class X Certificates and the Residual Certificate; (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers Servicer (or the Master Servicer) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts; (vii) the amount of any all Prepayment Premiums distributed to the Class P Certificates; (viii) the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ix) the amount of the Securities Administrator Fees, Trustee Fees, the Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums Premium Payments paid during the Collection Period to which such distribution relates; (x) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, commenced as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, Loan and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xiv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates; (xv) the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any the insurance claim payments received with respect to each the Pool Insurance Policy during the related Collection Period, Period and the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates Rate of the LIBOR Certificates; and (xx) the amount of any payments made by the Cap Provider to the Trust Fund under the Basis Risk Cap Agreementand the Class X Cap. In the case of information furnished pursuant to subclauses (i), (ii) and (viviii) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall Trustee will make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the TrusteeCertificateholders, any NIMS Insurer, Certificateholders Insurer and the Rating Agencies via the Securities AdministratorTrustee’s internet website. The Securities AdministratorTrustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” ”. Assistance in using the website can be obtained by calling the Securities AdministratorTrustee’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator Trustee based solely on Mortgage Loan data provided to the Securities Administrator Trustee by the Master Servicer (in a format agreed to by the Securities Administrator Trustee and the Master Servicer) no later than 12:00 p.m.(noon) Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator Trustee shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the Loans, related REO Property and the Pool Insurance Policy that has been provided to the Trustee by the Master Servicer by each Servicer, and the Securities Administrator Trustee shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Trustee shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall be promptly forwarded to the Securities Administrator, the Securities Administrator Trustee shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a the Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such the Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as such Certificateholder and any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to the NIM Securities or an investment in the Certificates; provided, however, that the Securities Administrator Trustee shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(iiSection 4.03(a) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the TrusteeFund. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information)reports. (d) The Securities Administrator Trustee shall prepare and file with the Internal Revenue Service (“IRS”), on behalf of the Trust Fund, an application for an employer identification number on IRS Form SS 4 or by any other acceptable method. The Trustee shall also file a Form 8811 as required. The Trustee, upon receipt from the IRS of the Notice of Taxpayer Identification Number Assigned, shall upon request promptly forward a copy of such notice to the Master Servicer and the Depositor. The Trustee shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator Trustee with such information as is necessary for the Securities Administrator Trustee to prepare such reports (and the Securities Administrator may rely solely upon such information)reports.

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator Trustee shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderSwap Counterparty) and shall make available to the Trustee, any NIMS Insurer, the Swap Counterparty, the Credit Risk Manager and each Certificateholder a report setting forth the following information (on the basis of Mortgage Loan level information obtained from the ServicersMaster Servicer): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and the calculation thereof; (iii) the amount, if any, of any distribution to the Holders of the Class P CertificatesCertificate, the Class X Certificates and the Residual Certificate; (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers Servicer (or the Master Servicer) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) by Mortgage Pool and in the aggregate, the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts; (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) by Mortgage Pool and in the aggregate, the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ix) the amount of the Securities Administrator Fees, Trustee Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool PMI Insurance Premiums paid during the Collection Period to which such distribution relates; (x) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, all as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans in any Mortgage Pool with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xiv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates; (xv) with respect to each Mortgage Pool, the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance the Bulk PMI Policy and any LPMI Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates Rate of the Certificates; and (xx) the amount of any payments made by the Cap Provider Net Swap Payment to the Supplemental Interest Trust Fund under made pursuant to Section 5.02, any Net Swap Payment to the Cap AgreementSwap Counterparty made pursuant to Section 5.02, any Swap Termination Payment to the Supplemental Interest Trust made pursuant to Sections 5.02 and any Swap Termination Payment to the Swap Counterparty made pursuant to Section 5.02. In the case of information furnished pursuant to subclauses (i), (ii) and (vi) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) also be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator Trustee shall make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities AdministratorTrustee’s internet website. The Securities AdministratorTrustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk Trustee at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk number listed above and indicating such. The Securities Administrator Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator Trustee on the Distribution Date based solely on Mortgage Loan data provided to the Securities Administrator Trustee by the Master Servicer (in a format agreed to by the Securities Administrator Trustee and the Master Servicer) no later than 12:00 p.m.(noon) p.m. Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator Trustee shall be entitled to rely conclusively on the accuracy of the information or data (i) regarding the Mortgage Loans and the related REO Property Property, that has been provided to the Master Servicer by each Servicerthe Servicer and (ii) regarding the Swap Agreement, that has been provided by the Swap Counterparty, and the Securities Administrator Trustee shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Trustee shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) Master Servicer shall be entitled to conclusively rely on the Mortgage Loan data provided to the Trustee by the Securities Administrator Servicer and shall have no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Dateliability for any errors in such Mortgage Loan data. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall will be promptly forwarded to the Securities AdministratorMaster Servicer, the Securities Administrator Master Servicer shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a the Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator Master Servicer shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the Trustee. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information). (d) The Securities Administrator Trustee shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator Trustee with such information as is necessary for the Securities Administrator Trustee to prepare such reports (and the Securities Administrator Trustee may rely solely upon such information).

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderCounterparty) and shall make available to the Trustee, any NIMS Insurer, the Credit Risk Manager and each Certificateholder a report setting forth the following information (on the basis of Mortgage Loan level information obtained from the ServicersServicer): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and the calculation thereof; (iii) the amount, if any, of any distribution to the Holders of the Class P CertificatesCertificate, the Class X Certificates and the Residual Certificate; (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers Servicer (or the Master Servicer) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) by Mortgage Pool and in the aggregate, the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts; (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) by Mortgage Pool and in the aggregate, the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ix) the amount of the Servicing Fees, Securities Administrator Fees, Trustee Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool PMI Insurance Premiums paid during the Collection Period to which such distribution relates; (x) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, all as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans in any Mortgage Pool with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xiv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates; (xv) with respect to each Mortgage Pool, the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance the Bulk PMI Policy and any LPMI Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates Rate of the Certificates; and (xx) the amount of any payments made by the Cap Provider Counterparty to the Trust Fund under the Cap Agreement. In the case of information furnished pursuant to subclauses (i), (ii) and (vi) above, the amounts shall also (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator based solely on Mortgage Loan data provided to the Securities Administrator by the Master Servicer (in a format agreed to by the Securities Administrator and the Master Servicer) no later than 12:00 p.m.(noon) Eastern Standard Time four Business Days prior to the Distribution DateDate and by the information provided by the Cap Counterparty. In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicerthe Servicer and on the information provided by the Cap Counterparty, and the Securities Administrator shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) 2:00 p.m. Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, company which request, if received by the Trustee, shall be promptly forwarded to the Securities Administrator, the Securities Administrator shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a the Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such the Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the Trustee. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information). (d) The Securities Administrator shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information).

Reports to Certificateholders. (a) On each Distribution DateDate on or prior to a Section 7.01(c) Purchase Event or a Trust Fund Termination Event, the Securities Administrator Trustee shall have prepared prepare (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderServicer) and shall make available to the Trustee, any NIMS Insurer, the Credit Risk Manager each Certificateholder and each Certificateholder Rating Agency a report written report, which may be in electronic form, setting forth the following information (on the basis of Mortgage Loan level information obtained from the ServicersServicers and the Master Servicer): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates Certificates, other than any Class of Notional Certificates, and in respect of each Component, to the extent applicable, allocable to principal on the Mortgage Loans, including any Subsequent Recovery, Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principalprincipal in each Mortgage Pool; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates Certificates, other than the Class AP Certificates, and in respect of each Component, allocable to interest and interest, including any Accrual Amount added to the calculation thereofClass Principal Amount of any Class of Accrual Certificates; (iii) the amount, if any, of any distribution to the Holders of the Class P Certificates, the Class X Certificates and the a Residual Certificate; (iv) for each Collateral Group and in the aggregate, (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers Master Servicer or any Servicer (or the Master ServicerTrustee) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) the total number of Mortgage Loans, the aggregate Scheduled Aggregate Principal Balance of all the Mortgage Loans as and the Non-AP Pool Balance of the close of business on the last day of the related Collection Periodeach Collateral Group for such Distribution Date, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, and the Component Principal Amount or Component Notional Amount, as applicable, of each Component as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) aboveabove (and to the addition of any Accrual Amount in the case of any Class of Accrual Certificates), separately identifying any reduction of any of the foregoing Certificate Principal Amounts, Component Principal Amounts or Component Notional Amounts due to Applied Loss AmountsRealized Losses; (vii) for each Collateral Group and in the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) the amount of aggregate, any Realized Losses incurred realized with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date, stating separately the amount of Special Hazard Losses, Fraud Losses and Bankruptcy Losses and the aggregate amount of such Realized Losses, and the remaining Special Hazard Loss Amount, Fraud Loss Amount and Bankruptcy Loss Amount; (ixviii) the amount of the Securities Administrator Fees, Trustee Fees, Master Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums Servicing Fees paid during the Collection Due Period to which such distribution relates; (xix) the number and aggregate Scheduled Principal Balance of Mortgage LoansLoans in each Collateral Group and in the aggregate, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basisdelinquent one month, (c) Delinquent 60 to 89 days on a contractual basisdelinquent two months, (d) Delinquent 90 delinquent three or more days on a contractual basismonths, and (e) as to which foreclosure proceedings have been commenced, commenced as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, ; (fx) the deemed principal balance of each REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in bankruptcy and (g) that are REO Propertieswhich such Distribution Date occurs; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property any Mortgage Loan that became a an REO Property during the preceding calendar month, the principal balance of such Mortgage Loan and the number of such Mortgage Loans as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Interest Shortfalls and Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution distributions made on such Distribution Date; (xiv) the Certificate Interest Rate or Component Interest Rate applicable to such Distribution Date with respect to each Class of CertificatesCertificates and each Component, respectively; (xv) the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed);; and (xviixvi) the amount of any Overcollateralization Deficiency Class P Distributable Amount after giving effect allocated to the distributions made in Class P Certificates for that Distribution Date. In addition to the information listed above, such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance Policy during the related Collection PeriodDate Statement shall also include such other information as is required by Form 10-D, including, but not limited to, the Old Republic Undrawn Pool Insurance Policy Balanceinformation required by Item 1121 (§ 229.1121) of Regulation AB, the United Guaranty Undrawn Pool Insurance Policy Balanceother than those data elements specified in Item 1121(a)(11), the Old Republic Covered Balance (12) and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates of the Certificates; and (xx) the amount of any payments made by the Cap Provider to the Trust Fund under the Cap Agreement14). In the case of information furnished pursuant to subclauses (i), (ii) and (vivii) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. On any Distribution Date after the occurrence of a Section 7.01(c) Purchase Event, the information required by subclauses (i), (iii), (iv), (v), (vii), (viii), (ix), (x), (xi), (xii) and (xvi) shall be provided to the Holder of the LT-R Certificate and the LTURI Holder with regard to the Lower Tier REMIC I Uncertificated Regular Interests in lieu of the Certificates. The Securities Administrator shall Trustee will make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities AdministratorTrustee’s internet website. The Securities Administrator’s internet website shall , initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating suchupon request. The Securities Administrator Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above above-parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above above-parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator Trustee based solely on Mortgage Loan data provided to the Securities Administrator Trustee by the Master Servicer (in a format agreed to by the Securities Administrator Trustee and the Master Servicer) no later than 12:00 p.m.(noon) Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information Mortgage Loan data to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator Master Servicer shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator Master Servicer shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Trustee shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall will be promptly forwarded to the Securities AdministratorMaster Servicer, the Securities Administrator Master Servicer shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator Master Servicer shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the such Master Servicer’s actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections Section 4.03(a)(i) and 4.03(a)(ii(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the TrusteeFund. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information)reports. (d) The Securities Administrator shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information).

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderServicer) and shall make available to the Trustee, any NIMS Insurereach Certificateholder, the Credit Risk Manager Trustee and each Certificateholder the Certificate Insurer a written report setting forth the following information information, by Mortgage Pool and Certificate Group (on the basis of Mortgage Loan level information obtained from the ServicersServicers and the Master Servicer): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates Certificates, other than any Class of Notional Certificates, and in respect to each Component, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principalprincipal in each Mortgage Pool; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates Certificates, other than any Class of Principal Only Certificates, and in respect of each Component, allocable to interest and interest, including any Accrual Amount added to the calculation thereofClass Principal Amount of any Class of Accrual Certificates; (iii) the amount, if any, of any distribution to the Holders of the Class P Certificates, the Class X Certificates and the a Residual Certificate; (iv) (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers Master Servicer or any Servicer (or the Master ServicerSecurities Administrator) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) the total number of Mortgage Loans, the aggregate Scheduled Aggregate Principal Balance of all the Mortgage Loans as and the Non-AP Pool Balance of the close of business on the last day of the related Collection Periodeach Mortgage Pool for such Distribution Date, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, and the Component Principal Amount of each Component as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) aboveabove (and to the addition of any Accrual Amount in the case of any Class of Accrual Certificates), separately identifying any reduction of any of the foregoing Certificate Principal Amounts or Component Principal Amounts due to Applied Loss Amounts;Realized Losses: (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) the amount of any Realized Losses incurred realized with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date, stating separately the amount of Special Hazard Losses, Fraud Losses and Bankruptcy Losses and the aggregate amount of such Realized Losses, and the remaining Special Hazard Loss Amount, Fraud Loss Amount and Bankruptcy Loss Amount; (ixviii) the amount of the Securities Administrator Fees, Trustee Master Servicing Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums Securities Administrator Fee paid during the Collection Due Period to which such distribution relates; (xix) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basisdelinquent one month, (c) Delinquent 60 to 89 days on a contractual basisdelinquent two months, (d) Delinquent 90 delinquent three or more days on a contractual basismonths, and (e) as to which foreclosure proceedings have been commenced, commenced as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, ; (fx) the deemed principal balance of each REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in bankruptcy and (g) that are REO Propertieswhich such Distribution Date occurs; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property any Mortgage Loan that became a an REO Property during the preceding calendar month, the principal balance of such Mortgage Loan and the number of such Mortgage Loans as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Interest Shortfalls and Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xiv) the Certificate Interest Rate or Component Interest Rate applicable to such Distribution Date with respect to each Class of CertificatesCertificates and each Component, respectively; (xv) the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvi) any Insured Payments made in respect of the Class A4 Guaranteed Distributions paid out of the Class A4 Policy Payments Account under the Class A4 Certificate Insurance Policy; (xvii) any amounts withdrawn from the amount of any Overcollateralization Deficiency Amount after giving effect Class A4 Reserve Fund pursuant to Section 4.06 for the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect Prepayment Penalty Amounts allocated to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance;Class P Certificates for that Distribution Date; and (xix) the level of LIBOR any other "loan level" information for any Mortgage Loans that are delinquent three or more months and the Certificate Interest Rates of the Certificates; and (xx) the amount of any payments made REO Property held by the Cap Provider Trustee that is reported by the Master Servicer to the Trust Fund under the Cap AgreementTrustee. In the case of information furnished pursuant to subclauses (i), (ii) and (vivii) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall will make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS the Certificate Insurer, Certificateholders and the Rating Agencies via the Securities Administrator’s 's internet website. The Securities Administrator’s 's internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” "www.ctslink.com". Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-Admi▇▇▇▇▇▇▇▇▇'▇ ▇▇▇tomer service desk at 1-301-815-6600. Such parties that are unable to use the website are entitled to have a paper copy mailed to them cop▇ ▇▇▇▇▇▇ ▇▇ ▇▇em via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator based solely on Mortgage Loan data provided to the Securities Administrator by the Master Servicer (in a format agreed to by the Securities Administrator and the Master Servicer) no later than 12:00 p.m.(noon) Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information Mortgage Loan data to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator Master Servicer shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator Master Servicer shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by On each Distribution Date, the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior shall also provide or make available to the Distribution DateDepositor a copy of the above-described written report, to the following address: Mortgage Finance Group, Lehman Brothers Inc., 101 Hudson Street, Jersey City, New Jersey 07302, Attention: Joseph J. Kel▇▇, ▇▇ to such other a▇▇▇▇▇▇ ▇▇ ▇▇▇ Depositor may designate. (b) Upon the reasonable Upo▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇e advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank bank, insurance company or insurance companythe Certificate Insurer, which request, if received by the Trustee, shall will be promptly forwarded to the Securities AdministratorMaster Servicer, the Securities Administrator Master Servicer shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator Master Servicer shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the such Master Servicer's actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee Securities Administrator shall have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(iiSection 4.03(a) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the TrusteeFund. The Trustee Securities Administrator shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information). (d) The Securities Administrator shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information)reports.

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator Trustee shall have prepared prepare (based solely on information provided by the Master Servicer and the Trustee or the any Cap Provider) and shall make available to the Trustee, Certificateholders and any NIMS Insurer, the Credit Risk Manager and each Certificateholder Insurer a written report setting forth the following information by Mortgage Pool (on the basis of Mortgage Loan level information obtained from the Servicers):applicable Servicer). (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of LIBOR Certificates, MTA Certificates and Grantor Trust Certificates, other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including any Subsequent Recovery, Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principalprincipal in each Mortgage Pool; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of LIBOR Certificates, MTA Certificates, Notional Certificates and Grantor Trust Certificates allocable to interest and the calculation thereof; (iii) the amount, if any, of any distribution distributions to the Holders of the Class P CertificatesC, Class 1-AP, Class 2-AP, Class 3-AP, Class X and Class R Certificates on such Distribution Date, stated separately, and the aggregate amounts, if any, of distributions to the Holders of the Class C, Class X and Class R Certificates and the Residual Certificateon all Distribution Dates, stated separately; (iv) the amount, if any, of any distributions to the Cap Provider with respect to each Class of Grantor Trust Certificates (A) as interest on any outstanding Cap Deferred Interest Amount, (B) in reduction of such Cap Deferred Interest Amount or (C) as a termination payment or for any other reason; (v) the amount of the Cap Deferred Interest Amount for each Class of Grantor Trust Certificates after distributions on such Distribution Date; (vi) by Mortgage Pool and in the aggregate (A) the aggregate amount of any Advances required to be made as of the end of the month immediately preceding the month in which such Distribution Date occurs by or on behalf of the Servicers (or the Master Servicer) any Servicer with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (vvii) by Mortgage Pool and in the aggregate, the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (viviii) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to any Applied Loss Amounts; (viiix) by Mortgage Pool and in the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) aggregate, the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ixx) by Mortgage Pool and in the aggregate, the amount of the Securities Administrator Fees, Trustee FeesMaster Servicing Fee, Servicing Fees, Credit Risk Manager’s Fees (other than for GMACM) and Pool Insurance Premiums General Servicing Fees paid during the Collection Period to which such distribution relates; (xxi) by Mortgage Pool and in the aggregate, the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding outstanding, (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, all as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO PropertiesProperties (the information in this item (xi) to be calculated utilizing the ABS delinquency method); (xixii) by Mortgage Pool and in the aggregate, the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xiixiii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiiixiv) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Deferred Amounts, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each applicable Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xivxv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of CertificatesCertificates (with a notation if such Certificate Interest Rate reflects the application of the applicable Net Funds Cap); (xvxvi) by Mortgage Pool and in the aggregate, the Interest Remittance Amount, the Principal Remittance Amount, the Principal Distribution Amount and the Principal Remittance Overcollateralization Release Amount applicable to such Distribution Date; (xvixvii) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xviixviii) the Overcollateralization Amount after giving effect to the distributions made on such Distribution Date; (xix) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xixxx) the level of LIBOR and One-Year MTA and the Certificate Interest Rates Rate of each of the LIBOR Certificates, MTA Certificates, Notional Certificates and Grantor Trust Certificates; (xxi) the amount of any payments made to each Class of Certificates that are treated as payments received in respect of a REMIC 2 Regular Interest and the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC 2 Regular Interest; and (xxxxii) the amount of any payments made by the Cap Provider to the Trust Fund under the Interest Rate Cap AgreementAgreement or the Deferred Interest Cap Agreements. In the case of information furnished pursuant to subclauses sub-clauses (i), (ii) and (viviii) above, the amounts shall (except in the case of the report delivered with respect to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. In addition to the information listed above for any year in which the Depositor is subject to Exchange Act reporting with respect to the Certificates, such Distribution Date report shall also include such other information as is required by Form 10-D, including, but not limited to, the information required by Item 1121 (§ 229.1121) of Regulation AB to the extent that the Trustee shall have received any such information from the Depositor, the Sponsor, the Master Servicer, any Servicer, any Custodian, the Cap Provider or any Subservicer or Subcontractor therefor, as applicable, no later than four Business Days prior to the Distribution Date. The Securities Administrator shall Trustee will make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) provided to it by the Master Servicer available each month to the TrusteeCertificateholders, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities AdministratorTrustee’s internet website. The Securities AdministratorTrustee’s internet website shall initially be located at “▇▇▇▇://▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ and assistance in using the website can be obtained by emailing the Trustee’s customer service desk at ▇▇.▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇▇▇▇.▇@▇▇▇▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee shall provide a “zero settlement file” to Bloomberg L.P. within seven (7) calendar days after the receipt of the collateral data file from the Depositor, but in no event later than the first Distribution Date, which shall contain all of the information in the initial Monthly Report (without giving effect to any distributions); provided, however, that in no event will such zero settlement file contain any mortgagor-specific information. The foregoing information and reports shall be prepared and determined by the Securities Administrator Trustee based solely on Mortgage Loan data provided to the Securities Administrator Trustee by the Master Servicer (in a format agreed to by the Securities Administrator Trustee and the Master Servicer) no later than 12:00 p.m.(noon) 2:00 p.m. Eastern Standard Time four Business Days prior to the Distribution DateDate or such other time period as set forth in Section 9.23(c). In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurerinformation, the Securities Administrator Trustee shall be entitled to rely conclusively on the accuracy and completeness of the information or data (i) regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicerthe Servicer and to the Trustee by the Master Servicer and (ii) regarding the Interest Rate Cap Agreement and Deferred Interest Cap Agreements that has been provided to the Trustee by the Cap Provider, and the Securities Administrator Trustee shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Trustee shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors or omissions in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) Master Servicer shall be entitled to conclusively rely on the Mortgage Loan data provided to the Trustee by the Securities Administrator each Servicer and shall have no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Dateliability for any errors or omissions in such Mortgage Loan data. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall be promptly forwarded to the Securities Administrator, the Securities Administrator Master Servicer shall provide, or cause to be provided, to the extent such information is available to the Master Servicer exercising reasonable efforts to obtain such information (or, to the extent that such information or documentation is not required to be provided by a the applicable Servicer under the applicable related Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to the NIM Securities or an investment in the Certificates; provided, however, that the Securities Administrator Master Servicer shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall shall, upon written request, have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and to any NIMS Insurer, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections Section 4.03(a)(i) and 4.03(a)(ii(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, however that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the TrusteeFund. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information (to the extent readily available to the Master Servicer) as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information)reports. (d) The Securities Administrator Trustee shall prepare and file with the IRS, on behalf of the Trust Fund, an application for an employer identification number on IRS Form SS-4 or by any other acceptable method. The Trustee shall also file a Form 8811 as required. The Trustee, upon receipt from the IRS of the Notice of Taxpayer Identification Number Assigned, shall upon request promptly forward a copy of such notice to the Master Servicer and the Depositor. The Trustee shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator Trustee with such information (to the extent readily available to the Master Servicer) as is necessary for the Securities Administrator Trustee to prepare such reports (and comply with the Securities Administrator may rely solely upon such information)foregoing.

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator Trustee shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderServicer) and shall make available to the Trustee, any NIMS Insurer, the Credit Risk Manager and each Certificateholder a written report setting forth the following information information, by Mortgage Pool and Certificate Group (on the basis of Mortgage Loan level information obtained from the ServicersServicers and the Master Servicer): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates Certificates, other than any Class of Notional Certificates, and in respect to each Component, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principalprincipal in each Mortgage Pool; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates Certificates, other than any Class of Principal Only Certificates, and in respect of each Component, allocable to interest and interest, including any Accrual Amount added to the calculation thereofClass Principal Amount of any Class of Accrual Certificates; (iii) the amount, if any, of any distribution to the Holders of the Class P Certificates, the Class X Certificates and the a Residual Certificate; (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers Master Servicer or any Servicer (or the Master ServicerTrustee) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) the total number of Mortgage Loans, the aggregate Scheduled Aggregate Principal Balance of all the Mortgage Loans as and the Non-AP Pool Balance of the close of business on the last day of the related Collection Periodeach Mortgage Pool for such Distribution Date, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, and the Component Principal Amount of each Component as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) aboveabove (and to the addition of any Accrual Amount in the case of any Class of Accrual Certificates), separately identifying any reduction of any of the foregoing Certificate Principal Amounts or Component Principal Amounts due to Applied Loss Amounts;Realized Losses: (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) the amount of any Realized Losses incurred realized with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date, stating separately the amount of Special Hazard Losses, Fraud Losses and Bankruptcy Losses and the aggregate amount of such Realized Losses, and the remaining Special Hazard Loss Amount, Fraud Loss Amount and Bankruptcy Loss Amount; (ixviii) the amount of the Securities Administrator Fees, Trustee Fees, Master Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums Servicing Fees paid during the Collection Due Period to which such distribution relates; (xix) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basisdelinquent one month, (c) Delinquent 60 to 89 days on a contractual basisdelinquent two months, (d) Delinquent 90 delinquent three or more days on a contractual basismonths, and (e) as to which foreclosure proceedings have been commenced, commenced as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, ; (fx) the deemed principal balance of each REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in bankruptcy and (g) that are REO Propertieswhich such Distribution Date occurs; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property any Mortgage Loan that became a an REO Property during the preceding calendar month, the principal balance of such Mortgage Loan and the number of such Mortgage Loans as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Interest Shortfalls and Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xiv) the Certificate Interest Rate or Component Interest Rate applicable to such Distribution Date with respect to each Class of CertificatesCertificates and each Component, respectively; (xv) the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xviixvi) the amount of any Overcollateralization Deficiency Amount after giving effect Prepayment Penalty Amounts allocated to the distributions made in such Class P Certificates for that Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates of the Certificates; and (xxxvii) the amount of any payments made other "loan level" information for any Mortgage Loans that are delinquent three or more months and any REO Property held by the Cap Provider Trustee that is reported by the Master Servicer to the Trust Fund under the Cap AgreementTrustee. In the case of information furnished pursuant to subclauses (i), (ii) and (vivii) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall Trustee will make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities Administrator’s Trustee's internet website. The Securities Administrator’s Trustee's internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating suchupon request. The Securities Administrator Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator Trustee based solely on Mortgage Loan data provided to the Securities Administrator Trustee by the Master Servicer (in a format agreed to by the Securities Administrator Trustee and the Master Servicer) no later than 12:00 p.m.(noon) Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information Mortgage Loan data to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator Master Servicer shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator Master Servicer shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Trustee shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in On each Distribution Date, the first paragraph of this Section 4.03(a) Trustee shall be provided also provide or make available to the Trustee by Depositor a copy of the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior above-described written report, to the Distribution Datefollowing address: Mortgage Finance Group, ▇▇▇▇▇▇ Brothers Inc., ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, Jersey City, New Jersey 07302, Attention: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇, or to such other address as the Depositor may designate. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall will be promptly forwarded to the Securities AdministratorMaster Servicer, the Securities Administrator Master Servicer shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator Master Servicer shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the such Master Servicer's actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(iiSection 4.03(a) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the TrusteeFund. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information)reports. (d) The Securities Administrator shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information).

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the Cap Provider) and shall make available to the Trustee, any NIMS Insurer, the Credit Risk Manager and each Certificateholder a report setting forth the following information (on the basis of Mortgage Loan level information obtained from the Servicers): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and the calculation thereof; (iii) the amount, if any, of any distribution to the Holders of the Class P CertificatesCertificate, the Class X Certificates and the Residual Certificate; (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers (or the Master Servicer) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) by Mortgage Pool and in the aggregate, the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts; (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) by Mortgage Pool and in the aggregate, the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ix) the amount of the Servicing Fees, Securities Administrator Fees, Trustee Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool PMI Insurance Premiums paid during the Collection Period to which such distribution relates; (x) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, all as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans in any Mortgage Pool with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xiv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates; (xv) with respect to each Mortgage Pool, the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance the Bulk PMI Policy and any LPMI Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates Rate of the Certificates; and (xx) the amount of any payments made by the Cap Provider to the Trust Fund under the Cap Agreement. In the case of information furnished pursuant to subclauses (i), (ii) and (vi) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator based solely on Mortgage Loan data provided to the Securities Administrator by the Master Servicer (in a format agreed to by the Securities Administrator and the Master Servicer) no later than 12:00 p.m.(noon) Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall be promptly forwarded to the Securities Administrator, the Securities Administrator shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the Trustee. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information). (d) The Securities Administrator shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information).

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator Trustee shall have prepared prepare (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderServicer) and shall make available to the Trustee, any NIMS Insurer, the Credit Risk Manager each Certificateholder and each Certificateholder Rating Agency a report setting forth the following information (on the basis of Mortgage Loan level information obtained from the ServicersServicers and the Master Servicer): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates Certificates, other than any Class of Notional Certificates, and in respect of each Component, to the extent applicable, allocable to principal on the Mortgage Loans, including any Subsequent Recovery, Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principalprincipal in each Mortgage Pool; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates Certificates, other than the Class AP Certificates, and in respect of each Component, allocable to interest and interest, including any Accrual Amount added to the calculation thereofClass Principal Amount of any Class of Accrual Certificates; (iii) the amount, if any, of any distribution to the Holders of the Class P Certificates, the Class X Certificates and the a Residual Certificate; (iv) for each Mortgage Pool and in the aggregate, (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers Master Servicer or any Servicer (or the Master ServicerTrustee) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) the total number of Mortgage Loans, the aggregate Scheduled Aggregate Principal Balance of all the Mortgage Loans as and the Non-AP Pool Balance of the close of business on the last day of the related Collection Periodeach Mortgage Pool for such Distribution Date, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, and the Component Principal Amount or Component Notional Amount, as applicable, of each Component as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) aboveabove (and to the addition of any Accrual Amount in the case of any Class of Accrual Certificates), separately identifying any reduction of any of the foregoing Certificate Principal Amounts, Component Principal Amounts or Component Notional Amounts due to Applied Loss AmountsRealized Losses; (vii) for each Mortgage Pool and in the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) the amount of aggregate, any Realized Losses incurred realized with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date, stating separately the amount of Special Hazard Losses, Fraud Losses and Bankruptcy Losses and the aggregate amount of such Realized Losses, and the remaining Special Hazard Loss Amount, Fraud Loss Amount and Bankruptcy Loss Amount; (ixviii) the amount of the Securities Administrator Fees, Trustee Fees, Master Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums Servicing Fees paid during the Collection Due Period to which such distribution relates; (xix) the number and aggregate Scheduled Principal Balance of Mortgage LoansLoans in each Mortgage Pool and in the aggregate, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basisdelinquent one month, (c) Delinquent 60 to 89 days on a contractual basisdelinquent two months, (d) Delinquent 90 delinquent three or more days on a contractual basismonths, and (e) as to which foreclosure proceedings have been commenced, commenced as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, ; (fx) the deemed principal balance of each REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in bankruptcy and (g) that are REO Propertieswhich such Distribution Date occurs; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property any Mortgage Loan that became a an REO Property during the preceding calendar month, the principal balance of such Mortgage Loan and the number of such Mortgage Loans as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Interest Shortfalls and Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution distributions made on such Distribution Date; (xiv) the Certificate Interest Rate or Component Interest Rate applicable to such Distribution Date with respect to each Class of CertificatesCertificates and each Component, respectively; (xv) the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed);; and (xviixvi) the amount of any Overcollateralization Deficiency Class P Distributable Amount after giving effect allocated to the distributions made in such Class P Certificates for that Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates of the Certificates; and (xx) the amount of any payments made by the Cap Provider to the Trust Fund under the Cap Agreement. In the case of information furnished pursuant to subclauses (i), (ii) and (vivii) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall Trustee will make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities AdministratorTrustee’s internet website. The Securities Administrator’s internet website shall , initially be located at “▇▇▇.▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating suchupon request. The Securities Administrator Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above above-parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above above-parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator Trustee based solely on Mortgage Loan data provided to the Securities Administrator Trustee by the Master Servicer (in a format agreed to by the Securities Administrator Trustee and the Master Servicer) no later than 12:00 p.m.(noon) 2:00 p.m. Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information Mortgage Loan data to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator Master Servicer shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator Master Servicer shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Trustee shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall will be promptly forwarded to the Securities AdministratorMaster Servicer, the Securities Administrator Master Servicer shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator Master Servicer shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the such Master Servicer’s actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections Section 4.03(a)(i) and 4.03(a)(ii(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the TrusteeFund. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information)reports. (d) The Securities Administrator shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information).

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator Trustee shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the any Cap Provider) and shall make available to the Trustee, any NIMS Insurer, the Credit Risk Manager and each Certificateholder a report setting forth the following information (on the basis of Mortgage Loan level information obtained from the Servicers): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and the calculation thereof; (iii) the amount, if any, of any distribution to the Holders of the Class P CertificatesCertificate, the Class X Certificates and the Residual Certificate; (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers (or the Master Servicer) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) by Mortgage Pool and in the aggregate, the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts; (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) by Mortgage Pool and in the aggregate, the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ix) the amount of the Securities Administrator Fees, Trustee Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool PMI Insurance Premiums paid during the Collection Period to which such distribution relates; (x) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, all as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans in any Mortgage Pool with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xiv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates; (xv) with respect to each Mortgage Pool, the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance the Bulk PMI Policy and any LPMI Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates Rate of the Certificates; and (xx) the amount of any payments made by the Cap Provider to the Trust Fund under the Cap Agreement. In the case of information furnished pursuant to subclauses (i), (ii) and (vi) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator Trustee shall make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities AdministratorTrustee’s internet website. The Securities AdministratorTrustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇.▇.▇▇/▇▇▇.” Assistance in using the website can be obtained by calling the Securities AdministratorTrustee’s customer service desk at ▇1-▇▇▇800-▇▇▇934-▇▇▇▇6802. Such parties that are unable to use the 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 Securities Administrator Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator Trustee based solely on Mortgage Loan data provided to the Securities Administrator Trustee by the Master Servicer (in a format agreed to by the Securities Administrator Trustee and the Master Servicer) no later than 12:00 p.m.(noon) Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator Trustee shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator Trustee shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Trustee shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall be promptly forwarded to the Securities Administrator, the Securities Administrator Trustee shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator Trustee shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the Trustee. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information). (d) The Securities Administrator Trustee shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator Trustee with such information as is necessary for the Securities Administrator Trustee to prepare such reports (and the Securities Administrator Trustee may rely solely upon such information).

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the Cap Provider) and shall make available to the Trustee, any NIMS Insurer, the Credit Risk Manager and each Certificateholder a report setting forth the following information (on the basis of Mortgage Loan level information obtained from the Servicers): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and the calculation thereof; (iii) the amount, if any, of any distribution to the Holders of the Class P CertificatesCertificate, the Class X Certificates and the Residual Certificate; (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers (or the Master Servicer) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) by Mortgage Pool and in the aggregate, the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts; (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) by Mortgage Pool and in the aggregate, the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ix) the amount of the Servicing Fees, Securities Administrator Fees, Trustee Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool PMI Insurance Premiums paid during the Collection Period to which such distribution relates; (x) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, all as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans in any Mortgage Pool with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xiv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates; (xv) with respect to each Mortgage Pool, the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance the Bulk PMI Policy and any LPMI Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of One-Month LIBOR, Three-Month LIBOR and the Certificate Interest Rates Rate of the Certificates; and (xx) the amount of any payments made by the Cap Provider to the Trust Fund under the Cap Agreement. In the case of information furnished pursuant to subclauses (i), (ii) and (vi) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator based solely on Mortgage Loan data provided to the Securities Administrator by the Master Servicer (in a format agreed to by the Securities Administrator and the Master Servicer) no later than 12:00 p.m.(noon) Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) 2:00 p.m. Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall be promptly forwarded to the Securities Administrator, the Securities Administrator shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the Trustee. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information). (d) The Securities Administrator shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information).

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator shall have prepared (based solely solely, in the case of (v), (vii), (viii), (ix) and (x) below, on information provided by the Servicer to the Master Servicer and the Trustee or the Cap ProviderSecurities Administrator) and shall make available to the Trustee, any NIMS InsurerSecurities Administrator, the Credit Risk Manager Seller and each Certificateholder a report (the “Distribution Date Statement”) setting forth the following information (on the basis of Mortgage Loan level information obtained from the ServicersMaster Servicer): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and the calculation thereof; (iii) the amount, if any, of any distribution to the Holders of the Class P LT-R Certificates, the Class X Certificates and the Residual Certificate; (A) the aggregate amount of any Advances required to be made as of the end of the month immediately preceding the month in which the Distribution Date occurs by or on behalf of the Servicers Servicer (or the Master Servicer) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) by Collateral Group and in the aggregate, the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amountsprincipal; (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ixviii) the amount of the Securities Administrator Fees, Trustee Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums paid during the Collection Period to which such distribution relates; (xix) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator by the Master Servicer, (a) remaining outstanding outstanding, (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, all as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO PropertiesProperties (the information in this item (x) to be calculated utilizing the OTS delinquency method); (xix) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xiixi) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiiixii) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xivxiii) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates; (xv) the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvixiv) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xixxv) the level of LIBOR and the Certificate Interest Rates of the Certificatesfor such Distribution Date; and (xx) the amount of any payments made by the Cap Provider In addition to the Trust Fund under information listed above, such Distribution Date Statement shall also include such other information as is required by Item 1121 (§ 229.1121) of Regulation AB and as provided to the Cap Securities Administrator pursuant to this Agreement. In the case of information furnished pursuant to subclauses (i), (ii) and (vi) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) also be expressed as a dollar amount per $1,000 of original principal amount of Certificates. On any Distribution Date after the occurrence of a Section 7.01(c) Purchase Event, the information required by subclauses (i), (iii), (iv), (v), (vii), (viii), (ix), (x) and (xi) shall be made available to the Trustee, the Seller, the holder of the Class LT-R Certificate and the LTURI-holder with regard to the Lower Tier REMIC I Uncertificated Regular Interests in lieu of the Certificates. The Securities Administrator shall make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator based solely on Mortgage Loan data provided to the Securities Administrator by the Master Servicer (in a format agreed to by the Securities Administrator and the Master Servicerattached hereto as Exhibit J) no later than 12:00 p.m.(noon) 2:00 p.m. Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information to the Trustee, Certificateholders Trustee and any NIMS InsurerCertificateholders, the Securities Administrator shall be entitled to rely conclusively on the accuracy and completeness of the information or data regarding the Mortgage Loans and the related REO Property Property, that has been provided to the Securities Administrator by the Master Servicer by each Servicer, and the Securities Administrator shall not be obligated to verify, recompute, reconcile or recalculate any such information or dataServicer. The Securities Administrator shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors or omissions in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided made available to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) p.m. Eastern Standard Time one two Business Day Days prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall be promptly forwarded to the Securities Administrator, the Securities Administrator shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a the Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end Upon request of each calendar yeara Certificateholder and prior to a Section 7.01(c) Purchase Event, the Trustee Securities Administrator shall have prepared and the Trustee Securities Administrator shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the TrusteeFund. The Trustee Securities Administrator shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information). (d) The Securities Administrator shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information). (e) The Master Servicer shall provide to the Depositor or to any party designated by the Depositor, as promptly as practicable upon the Depositor's request, any and all loan-level information that the Depositor may request in any format reasonably requested by the Depositor.

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderSwap Counterparty) and shall make available to the Trustee, any NIMS Insurer, the Swap Counterparty, the Credit Risk Manager and each Certificateholder a report setting forth the following information (on the basis of Mortgage Loan level information obtained from the Servicers): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and the calculation thereof; (iii) the amount, if any, of any distribution to the Holders of the Class P CertificatesCertificate, the Class X Certificates and the Residual Certificate; (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers (or the Master Servicer) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) by Mortgage Pool and in the aggregate, the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts; (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) by Mortgage Pool and in the aggregate, the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ix) the amount of the Servicing Fees, Securities Administrator Fees, Trustee Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool PMI Insurance Premiums paid during the Collection Period to which such distribution relates; (x) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, all as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans in any Mortgage Pool with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xiv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates; (xv) with respect to each Mortgage Pool, the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance the Bulk PMI Policy and any LPMI Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates Rate of the Certificates; and (xx) the amount of any payments made by the Cap Provider Net Swap Payment to the Supplemental Interest Trust Fund under made pursuant to Section 5.02, any Net Swap Payment to the Cap AgreementSwap Counterparty made pursuant to Section 5.02, any Swap Termination Payment to the Supplemental Interest Trust made pursuant to Sections 5.02 and any Swap Termination Payment to the Swap Counterparty made pursuant to Section 5.02. In the case of information furnished pursuant to subclauses (i), (ii) and (vi) above, the amounts shall also (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator based solely on Mortgage Loan data provided to the Securities Administrator by the Master Servicer (in a format agreed to by the Securities Administrator and the Master Servicer) no later than 12:00 p.m.(noon) p.m. Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator shall be entitled to rely conclusively on the accuracy of the information or data (i) regarding the Mortgage Loans and the related REO Property Property, that has been provided to the Master Servicer by each ServicerServicer and (ii) regarding the Swap Agreement, that has been provided by the Swap Counterparty, and the Securities Administrator shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) p.m. Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall be promptly forwarded to the Securities Administrator, the Securities Administrator shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the Trustee. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information). (d) The Securities Administrator shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information).

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator Trustee shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderSwap Counterparty) and shall make available to the Trustee, any NIMS Insurer, the Swap Counterparty, the Credit Risk Manager Manager, the Seller and each Certificateholder a report (the “Distribution Date Statement”) setting forth the following information (on the basis of Mortgage Loan level information obtained from the ServicersMaster Servicer): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and the calculation thereof; (iii) the amount, if any, of any distribution to the Holders of the Class P Certificate, the Class X Certificates, the Class X Certificates LT-R Certificates, and the Residual Certificate; (iv) (A) the aggregate amount of any Advances required to be made as of the end of the month immediately preceding the month in which the Distribution Date occurs by or on behalf of the Servicers Servicer (or the Master Servicer) with respect to such Distribution Date), (B) the aggregate amount of such Advances actually made, made and (C) the amount, if any, by which (A) above exceeds (B) above; (v) by Mortgage Pool and in the aggregate, the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts; (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) by Mortgage Pool and in the aggregate, the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ix) the amount of the Securities Administrator Fees, Trustee Fees, Servicing Fees, Fees and Credit Risk Manager’s Fees and Pool Insurance Premiums paid during the Collection Period to which such distribution relates; (x) by Mortgage Pool and in the aggregate, the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding outstanding, (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, all as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO PropertiesProperties (the information in this item (x) to be calculated utilizing the OTS delinquency method); (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Basis Risk Shortfalls Shortfalls, Deferred Amounts and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution distributions made on such Distribution Date; (xiv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates; (xv) with respect to each Mortgage Pool, the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect Overcollateralization Amount after giving effect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balancedistributions made is such Distribution Date; (xix) the level of LIBOR and the Certificate Interest Rates Rate of the Certificates; andLIBOR Certificates for such Distribution Date; (xx) the amount of any payments made by the Cap Provider Counterparty to the Supplemental Interest Trust Fund under made pursuant to Section 5.07(e); (xxi) the Cap Agreementamount of any Net Swap Payment to the Supplemental Interest Trust made pursuant to Section 5.07, any Net Swap Payment to the Swap Counterparty made pursuant to Section 5.07, any Swap Termination Payment to the Supplemental Interest Trust made pursuant to Section 5.07 and any Swap Termination Payment to the Swap Counterparty made pursuant to Section 5.07; (xxii) whether a Trigger Event is the effect for such Distribution Date; and (xxiii) the amount of any PPTL Premiums, if any, for such Distribution Date. In addition to the information listed above, such Distribution Date Statement shall also include such other information as is required by Item 1121 (§ 229.1121) of Regulation AB. In the case of information furnished pursuant to subclauses (i), (ii) and (vi) above, the amounts shall also (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. On any Distribution Date after the occurrence of a Section 7.01(c) Purchase Event, the information required by subclauses (i), (iii), (iv), (v), (vii), (viii), (ix), (x), (xi), (xii), (xv), (xvii), (xix), (xx) and (xxi) shall be provided to the NIMS Insurer, the Swap Counterparty, the Credit Risk Manager, the Seller, the Holder of the Class LT-R Certificate and the LTURI-holder with regard to the Lower Tier REMIC 1 Uncertificated Regular Interests in lieu of the Certificates. The Securities Administrator Trustee shall make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) provided to it by the Master Servicer available each month to the Trustee, any NIMS Insurer, Certificateholders and Certificateholders, the Rating Agencies and any other parties entitled thereto via the Securities AdministratorTrustee’s internet website. The Securities AdministratorTrustee’s internet website shall initially be located at “▇w▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities AdministratorTrustee’s customer service desk at ▇-(▇▇▇-) ▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator Trustee based solely on Mortgage Loan data provided to the Securities Administrator Trustee by the Master Servicer (in a format attached hereto as Exhibit J or in such other format mutually agreed to by the Securities Administrator Trustee and the Master Servicer) Servicer no later than 12:00 p.m.(noon) 2:00 p.m. Eastern Standard Time four Business Days prior to the Distribution DateDate (or such other time period set forth in Section 9.23(b)), and on the information provided to the Trustee by the Swap Counterparty and the Cap Counterparty. In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator Trustee shall be entitled to rely conclusively on the accuracy and completeness of the information or data (i) regarding the Mortgage Loans and the related REO Property Property, that has been provided to the Trustee by the Master Servicer based on information received by each the Master Servicer from the Servicer, (ii) regarding the Swap Agreement, that has been provided to the Trustee by the Swap Counterparty and (iii) regarding the Interest Rate Cap Agreement, that has been provided to the Trustee by the Cap Counterparty, and the Securities Administrator Trustee shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Trustee shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors or omissions in such Mortgage Loan data. The Master Servicer shall be entitled to conclusively rely on the Mortgage Loan data provided by the Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to U.S. Bank National Association (as agreed upon between U.S. Bank National Association and the Trustee) by the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) p.m. Eastern Standard Time one two Business Day Days prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall be promptly forwarded to the Securities Administrator, the Securities Administrator Trustee shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a the Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such the Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator Trustee shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end Upon request of each calendar yeara Certificateholder and prior to a Section 7.01(c) Purchase Event, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the TrusteeFund. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information). (d) The Securities Administrator Trustee shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator Trustee with such information as is necessary for the Securities Administrator Trustee to prepare such reports (and the Securities Administrator Trustee may rely solely upon such information)) to the extent such information is readily available to the Master Servicer. (e) So long as not prohibited by applicable law, the Master Servicer shall provide to the Depositor or to any party designated by the Depositor, as promptly as practicable upon the Depositor's request, any and all loan-level information that the Depositor may request in any format reasonably requested by the Depositor.

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator Trustee shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderServicer) and shall make available to the Trustee, any NIMS Insurer, the Credit Risk Manager and each Certificateholder a written report setting forth the following information (on the basis of Mortgage Loan level information obtained from the ServicersServicers and the Master Servicer): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates Certificates, other than any Class of Notional CertificatesCertificates and in respect of each Component, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates Certificates, other than any Class of Principal Only Certificates, allocable to interest and interest, including any Accrual Amount added to the calculation thereofClass Principal Amount of any Class of Accrual Certificates; (iii) the amount, if any, of any distribution to the Holders of the Class P Certificates, the Class X Certificates and the a Residual Certificate; (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers Master Servicer or any Servicer (or the Master ServicerTrustee) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) the total number of Mortgage Loans, the aggregate Scheduled Aggregate Principal Balance of all the Mortgage Loans as of and the close of business on the last day of the related Collection PeriodNon-AP Pool Balance for such Distribution Date, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, and the Component Principal Amount of each Component as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) aboveabove (and to the addition of any Accrual Amount in the case of any Class of Accrual Certificates), separately identifying any reduction of any of the foregoing Certificate Principal Amounts or Component Principal Amounts due to Applied Loss Amounts;Realized Losses: (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) the amount of any Realized Losses incurred realized with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date, stating separately the amount of Special Hazard Losses, Fraud Losses and Bankruptcy Losses and the aggregate amount of such Realized Losses, and the remaining Special Hazard Loss Amount, Fraud Loss Amount and Bankruptcy Loss Amount; (ixviii) the amount of the Securities Administrator Fees, Trustee Fees, Master Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums Servicing Fees paid during the Collection Due Period to which such distribution relates; (xix) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basisdelinquent one month, (c) Delinquent 60 to 89 days on a contractual basisdelinquent two months, (d) Delinquent 90 delinquent three or more days on a contractual basismonths, and (e) as to which foreclosure proceedings have been commenced, commenced as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, ; (fx) the deemed principal balance of each REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in bankruptcy and (g) that are REO Propertieswhich such Distribution Date occurs; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property any Mortgage Loan that became a an REO Property during the preceding calendar month, the principal balance of such Mortgage Loan and the number of such Mortgage Loans as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Interest Shortfalls and Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xiv) the Certificate Interest Rate or Component Interest Rate applicable to such Distribution Date with respect to each Class of CertificatesCertificates and each Component, respectively; (xv) the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed);; and (xviixvi) the amount of any Overcollateralization Deficiency Class P Distributable Amount after giving effect allocated to the distributions made in such Class P Certificates for that Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance Date and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates of the Certificates; and (xx) the amount of any payments made by the Cap Provider Class E Distributable Amount allocated to the Trust Fund under the Cap AgreementClass E Certificates for that Distribution Date. In the case of information furnished pursuant to subclauses (i), (ii) and (vivii) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall Trustee will make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities Administrator’s Trustee's internet website. The Securities Administrator’s Trustee's internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating suchupon request. The Securities Administrator Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator Trustee based solely on Mortgage Loan data provided to the Securities Administrator Trustee by the Master Servicer (in a an electronic format agreed to by the Securities Administrator Trustee and the Master Servicer) no later than 12:00 p.m.(noon) Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information Mortgage Loan data to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator Master Servicer shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator Master Servicer shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Trustee shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in On each Distribution Date, the first paragraph of this Section 4.03(a) Trustee shall be provided also provide or make available to the Trustee by Depositor a copy of the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior above described written report, to the Distribution Datefollowing address: Mortgage Finance Group, ▇▇▇▇▇▇ Brothers Inc., ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇, or to such other address as the Depositor may designate. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall will be promptly forwarded to the Securities AdministratorMaster Servicer, the Securities Administrator Master Servicer shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator Master Servicer shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the such Master Servicer’s actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, record and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(iiSection 4.03(a) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the TrusteeFund. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information)reports. (d) The Securities Administrator shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information).

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator Trustee shall have prepared prepare (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderSwap Counterparty) and shall make available to the Trustee, any NIMS Insurer, Certificateholders and the Credit Risk Manager and each Certificateholder Swap Counterparty a written report (the “Distribution Date Statement”) setting forth the following information (on the basis of Mortgage Loan level information obtained from the Servicers):). (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates Offered Certificates, other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Offered Certificates allocable to interest and the calculation thereof; (iii) the amount, if any, of any distribution distributions to the Holders of the Class P CertificatesC, Class P, Class X, Class LT-R and Class R Certificates on such Distribution Date, stated separately, and the aggregate amounts, if any, of distributions to the Holders of the Class X C, Class P, Class X, Class LT-R and Class R Certificates and the Residual Certificateon all Distribution Dates, stated separately; (A) by Mortgage Pool and in the aggregate, the aggregate amount of any Advances required to be made by or on behalf of the Servicers (or the Master Servicer) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) by Mortgage Pool and in the aggregate, the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts; (vii) by Mortgage Pool and in the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) aggregate, the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ixviii) by Mortgage Pool and in the aggregate, the amount of the Securities Administrator Fees, Trustee Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums paid during the Collection Period to which such distribution relates; (xix) by Mortgage Pool and in the aggregate, the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, commenced as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xix) by Mortgage Pool and in the aggregate, the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Mortgage Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xiixi) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiiixii) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Deferred Amounts, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each applicable Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xivxiii) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of CertificatesCertificates (with a notation if such Certificate Interest Rate reflects the application of the applicable Net Funds Cap); (xvxiv) the Interest Remittance Amount and the Principal Remittance Amount with respect to each Mortgage Pool and the Senior Principal Distribution Amount and the Overcollateralization Release Amount applicable to such Distribution Date; (xvixv) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvi) the Overcollateralization Amount after giving effect to the distributions made on such Distribution Date; (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates Rate of each of the LIBOR Certificates; (xix) [reserved]; and (xx) the amount of any payments made by the Cap Provider Net Swap Payment to the Supplemental Interest Trust Fund under made pursuant to Section 5.02, any Net Swap Payment to the Cap AgreementSwap Counterparty made pursuant to Section 5.02, any Swap Termination Payment to the Supplemental Interest Trust made pursuant to Sections 5.02 and any Swap Termination Payment to the Swap Counterparty made pursuant to Section 5.02. In addition to the information listed above, such Distribution Date Statement shall also include such other information as is required by Form 10-D, including, but not limited to, the information required by Item 1121 (§ 229.1121) of Regulation AB, other than those data elements specified in Item 1121(a)(11), (12) and (14). In the case of information furnished pursuant to subclauses sub-clauses (i), (ii) and (vi) above, the amounts shall (except in the case of the report delivered with respect to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. On any Distribution Date after the occurrence of a Section 7.01(d) Purchase Event with respect to the Pooling REMIC 1 Regular Interests, the information required by subclauses (i), (ii), (iv), (v), (vii), (viii), (ix), (x), (xi), (xii), (xv) (and in the case of the Class LT-R Certificates, subclause (iii)) shall be provided to the Holder of the Class LT-R Certificates and the LTURI-holder of the Pooling REMIC 1 Regular Interests. The Securities Administrator shall Trustee will make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) provided to it by the Master Servicer available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities AdministratorTrustee’s internet website. The Securities AdministratorTrustee’s internet website shall initially be located at “▇▇▇.▇▇.▇▇▇▇▇▇▇▇▇▇.▇▇▇.” ”. Assistance in using the website can be obtained by calling the Securities AdministratorTrustee’s customer service desk at ▇-(▇▇▇-) ▇▇▇-▇▇▇▇. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating suchsuch or notifying the Trustee at Citibank, N.A., ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: Agency and Trust—▇▇▇▇▇▇ XS Trust Service 2006-7. The Securities Administrator Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator Trustee based solely on Mortgage Loan data provided to the Securities Administrator Trustee by the Master Servicer (in a format agreed to by the Securities Administrator Trustee and the Master Servicer) no later than 12:00 p.m.(noon) 2:00 p.m. Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurerinformation, the Securities Administrator Trustee shall be entitled to rely conclusively on the accuracy of the information or data (i) regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each ServicerServicer and to the Trustee by the Master Servicer and (ii) regarding the Swap Agreement, that has been provided to the Trustee by the Swap Counterparty, and the Securities Administrator Trustee shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Trustee shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, company (which request, if received by the Trustee, shall Trustee will be promptly forwarded to the Securities AdministratorMaster Servicer), the Securities Administrator Master Servicer shall provide, or cause to be provided, to the extent such information is available to the Master Servicer exercising reasonable efforts to obtain such information (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to the NIM Securities or an investment in the Certificates; provided, however, that the Securities Administrator Trustee shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared shall, upon written request, prepare and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections Section 4.03(a)(i) and 4.03(a)(ii(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the TrusteeFund. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information)reports. (d) The Securities Administrator Trustee shall prepare and file with the Internal Revenue Service (“IRS”), on behalf of the Trust Fund, an application for an employer identification number on IRS Form SS-4 or by any other acceptable method. The Trustee shall also file a Form 8811 as required. The Trustee, upon receipt from the IRS of the Notice of Taxpayer Identification Number Assigned, shall upon request promptly forward a copy of such notice to the Master Servicer and the Depositor. The Trustee shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator Trustee with such information as is necessary for the Securities Administrator Trustee to prepare such reports (and comply with the Securities Administrator may rely solely upon such information)foregoing.

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator Trustee shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderServicer) and shall make available to the Trustee, any NIMS Insurer, the Credit Risk Manager and each Certificateholder a report setting forth the following information (on the basis of Mortgage Loan level information obtained from the Servicersapplicable Servicer and the Master Servicer): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including any Subsequent Recovery, Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principalprincipal in the Mortgage Pool; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and interest, including any Accrual Amount added to the calculation thereofClass Principal Amount of any Class of Accrual Certificates; (iii) the amount, if any, of any distribution to the Holders of the Class P Certificates, the Class X Certificates and the a Residual Certificate; (iv) (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers Master Servicer or any Servicer (or or, if applicable, the Trustee solely in its capacity as successor Master Servicer) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) the total number of Mortgage Loans, the aggregate Scheduled Aggregate Principal Balance of all the Mortgage Loans as of and the close of business on the last day of the related Collection PeriodPool Balance for such Distribution Date, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) aboveabove (and to the addition of any Accrual Amount in the case of any Class of Accrual Certificates), separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts;Realized Losses: (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) the amount of any Realized Losses incurred realized with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date, stating separately the amount of Special Hazard Losses, Fraud Losses and Bankruptcy Losses and the aggregate amount of such Realized Losses, and the remaining Special Hazard Loss Amount, Fraud Loss Amount and Bankruptcy Loss Amount; (ixviii) the amount of the Securities Administrator Fees, Trustee Master Servicing Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums Trustee Fee paid during the Collection Due Period to which such distribution relates; (xix) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basisdelinquent one month, (c) Delinquent 60 to 89 days on a contractual basisdelinquent two months, (d) Delinquent 90 delinquent three or more days on a contractual basismonths, and (e) as to which foreclosure proceedings have been commenced, as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property became a REO Property commenced as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xiix) the deemed aggregate principal balance of all REO Properties as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xi) with respect to substitution of Mortgage Loans in the preceding calendar month, the aggregate Scheduled Principal Balance of each all such Deleted Mortgage LoanLoans, and of each all Qualifying Substitute Mortgage LoanLoans; (xiiixii) the aggregate outstanding Carryforward Interest, Interest Shortfalls and Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xivxiii) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates;; and (xv) the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvixiv) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates of the Certificates; and (xx) the amount of any payments made by the Cap Provider to the Trust Fund under the Cap Agreement. In the case of information furnished pursuant to subclauses (i), (ii) and (viviii) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall Trustee will make such report and any additional loan level information (and, at its option, any additional files provided by the Master Servicer containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities Administrator’s Trustee's internet website. The Securities Administrator’s Trustee's internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇.” /▇▇▇. Assistance in using the website can be obtained by calling the Securities Administrator’s Trustee's customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator Trustee shall have the right to change the way such statements are distributed 57 in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator Trustee based solely on Mortgage Loan data provided to the Securities Administrator Trustee by the Master Servicer (in a format agreed to by the Securities Administrator and the Master Servicer) no later than 12:00 p.m.(noon) Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information Mortgage Loan data to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator Master Servicer shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator Master Servicer shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Trustee shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall will be promptly forwarded to the Securities AdministratorMaster Servicer, the Securities Administrator Master Servicer shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator Master Servicer shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the such Master Servicer's actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available shall, upon written request, send to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(iiSection 4.03(a) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the TrusteeFund. The Trustee Such requirement shall be deemed to have been satisfied this requirement if it forwards to the extent such information is provided pursuant to applicable requirements of the Code from time to time in any other format permitted by the Codeeffect. The Master Servicer shall provide the Trustee with such Mortgage Loan level information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information)reports. (d) The Securities Administrator shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information).

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the Cap Provider) and shall make available to the Trustee, any NIMS Insurer, the Credit Risk Manager and each Certificateholder and other interested parties a written report setting forth the following information (based solely on the basis of Mortgage Loan level report provided to the Securities Administrator by the Master Servicer (which in turn shall be based on information obtained from provided to the Servicers):Master Servicer by the Servicer) pursuant to Section 9.18). (i) the aggregate amount of the distribution distributions, separately identified, with respect to be made on such Distribution Date to the Holders of each Class of Certificates other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the amount of the distributions set forth in the clause (i) allocable to principal, separately identifying the aggregate amount of the distribution to be made on such Distribution Date to the Holders any Principal Prepayments or other unscheduled recoveries of each Class of Certificates allocable to interest and the calculation thereofprincipal included in that amount; (iii) the amount, if any, of any distribution to the Holders amount of the Class P Certificates, distributions set forth in the Class X Certificates clause (i) allocable to interest and the Residual Certificatehow it was calculated; (Aiv) the aggregate amount of any Advances required to be made by or on behalf of unpaid Interest Shortfall and the Servicers (or the Master Servicer) related accrued interest thereon, with respect to such Distribution Date, (B) the aggregate amount each Class of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) aboveCertificates; (v) the total number Class Principal Amount and Class Notional Amount of Mortgage Loans, each Class of Certificates after giving effect to the aggregate Scheduled distribution of principal on that Distribution Date; (vi) the Aggregate Stated Principal Balance of all the Mortgage Loans in each Mortgage Pool and the applicable Net WAC of the Mortgage Loans at the end of the related Prepayment Period; (vii) the Stated Principal Balance of the Mortgage Loans in each Mortgage Pool whose Mortgage Rates adjust on the basis of the One-Year Treasury Index, One-Year LIBOR index and the Six-Month LIBOR index at the end of the related Prepayment Period; (viii) the Pro Rata Senior Percentage, Senior Percentage and the Subordinate Percentage for each Mortgage Pool for the following Distribution Date; (ix) the Senior Prepayment Percentage and Subordinate Prepayment Percentage for each Mortgage Pool the following Distribution Date; (x) in the aggregate and with respect to each Mortgage Pool, the amount of any Servicing Fee paid to or retained by the Servicer for the related Due Period; (xi) in the aggregate and with respect to each Mortgage Pool, the amount of Advances for the related Due Period; (xii) in the aggregate and with respect to each Mortgage Pool, the number and Stated Principal Balance of the Mortgage Loans that were (A) Delinquent (exclusive of Mortgage Loans in foreclosure) (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days, (B) in foreclosure and Delinquent (1) 30 to 59 days, (2) 60 to 89 days and (3) 90 or more days and (C) in bankruptcy as of the close of business on the last day of the calendar month preceding that Distribution Date as determined in accordance with the MBA methodology for determining delinquencies; (xiii) in the aggregate and with respect to each Mortgage Pool, for any Mortgage Loan as to which the related Mortgaged Property was an REO property during the preceding calendar month, the principal balance of that Mortgage Loan as of the close of business on the last day of the related Collection Due Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts; (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (yxiv) in the aggregate since and with respect to each Mortgage Pool, the Cut-off Date; (ix) the amount of the Securities Administrator Fees, Trustee Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums paid during the Collection Period to which such distribution relates; (x) the total number and aggregate Scheduled Principal Balance principal balance of Mortgage Loans, as reported to the Securities Administrator by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, any REO properties as of the close of business on the last Business Day day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xiv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of CertificatesDue Period; (xv) in the Interest Remittance Amount aggregate and with respect to each Mortgage Pool, the Principal Remittance Amount applicable to such Distribution Dateamount of Realized Losses incurred during the preceding calendar month; (xvi) if applicablein the aggregate and with respect to each Mortgage Pool, the cumulative amount of any shortfall (i.e., Realized Losses incurred since the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed)Closing Date; (xvii) the amount Realized Losses, if any, allocated to each Class of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Certificates on that Distribution Date; (xviii) the aggregate amount Certificate Interest Rate for each Class of any insurance claim payments received with respect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance;Certificates for that Distribution Date; and (xix) the level of LIBOR and the Certificate Interest Rates of the Certificates; and (xx) the amount of any payments made by the Cap Provider Compensating Interest Payments, if any, allocated to the Trust Fund under the Cap Agreement. In the case each Class of information furnished pursuant to subclauses (i), (ii) and (vi) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of CertificatesCertificates on that Distribution Date. The Securities Administrator shall make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) reports available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities Administrator’s internet website. The Securities Administrator’s internet its website shall initially be located at “▇▇▇▇://▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” . Assistance in using the website can may be obtained by calling the Securities Administrator’s 's customer service desk at ▇-(▇▇▇-) ▇▇▇-▇▇▇▇. Such Certificateholders and other parties that are unable to use the 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 Securities Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator based solely on Mortgage Loan data provided to the Securities Administrator by the Master Servicer (in a format agreed to by contacting the Securities Administrator and the Master Servicer) no later than 12:00 p.m.(noon) Eastern Standard Time four Business Days prior to the Distribution Dateindicating such. In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurerinformation, the Securities Administrator shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property Properties that has been provided to the Securities Administrator by the Master Servicer (which in turn was based on information or data provided to the Master Servicer by each the Servicer), and the Securities Administrator shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee Upon receipt by the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon of the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall be promptly forwarded to the Securities Administrator, the Securities Administrator shall provide, or cause to be provided, provided (or, to the extent that such information or documentation is not required to be provided by a the Servicer or by the Master Servicer under the applicable Servicing this Agreement, shall use reasonable efforts to obtain such information and documentation from the Master Servicer (who shall use reasonable efforts to obtain such information and documentation from the Servicer), and provide) to any NIMS Insurer and such Certificateholder Certificateholders such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder Certificateholders may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer Certificateholders for the Securities Administrator's actual expenses incurred in providing such reports and access. . The Securities Administrator shall prepare and file with the Internal Revenue Service (c) Within 90 days"IRS"), or such shorter period as may be required by statute or regulation, after the end on behalf of each calendar yearREMIC, the Trustee shall have prepared and the Trustee shall make available to an application for an employer identification number on IRS Form SS-4 or by any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreementother acceptable method. Such information The Securities Administrator shall also include file a Form 8811 as required. The Securities Administrator, upon receipt from the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses IRS of the Trust Fund furnished by the Master Servicer Notice of Taxpayer Identification Number Assigned, shall upon request promptly forward a copy of such notice to the TrusteeDepositor. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information). (d) The Securities Administrator shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Depositor shall cause the Master Servicer shall to provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information)reports.

Reports to Certificateholders. (a) On each Distribution DateDate on or prior to a Section 7.01(c) Purchase Event or a Trust Fund Termination Event, the Securities Administrator Trustee shall have prepared prepare (based solely on information provided by the Master Servicer and the Trustee or Cap Counterparty (other than item (xx) below, which shall be determined solely by the Cap ProviderTrustee)) and shall make available to the Trustee, any NIMS Insurer, the Credit Risk Manager each Certificateholder and each Certificateholder Rating Agency a report (the “Distribution Date Statement”), setting forth the following information (on the basis of Mortgage Loan level information obtained from the ServicersMaster Servicer (other than with respect to item (xix) below)): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates Certificates, other than any Class of Notional Certificates, and in respect of any Component, to the extent applicable, allocable to principal on the Mortgage Loans, including any Subsequent Recovery, Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principalprincipal in each Mortgage Pool; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates Certificates, other than the Class AP Certificates, and in respect of any Component, allocable to interest and the calculation thereofinterest; (iii) the amount, if any, of any distribution to the Holders of the Class P Certificates, the Class X Certificates and the a Residual Certificate; (iv) for each Collateral Group and in the aggregate, (A) the aggregate amount of any Advances required to be made as of the end of the month immediately preceding the month in which such Distribution Date occurs by or on behalf of the Servicers Master Servicer or a Servicer (or the Trustee solely in its capacity as successor Master Servicer) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) the total number of Mortgage Loans, the aggregate Scheduled Aggregate Principal Balance of all the Mortgage Loans as and the Non-AP Pool Balance of the close of business on the last day of the related Collection Periodeach Mortgage Pool for such Distribution Date, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, and the Component Principal Amount or Component Notional Amount, as applicable, of each Component as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) aboveabove (and to the addition of any Accrual Amount in the case of any Class of Accrual Certificates), separately identifying any reduction of any of the foregoing Certificate Principal Amounts, Component Principal Amounts or Component Notional Amounts due to Applied Loss AmountsRealized Losses; (vii) for each Collateral Group and in the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) the amount of aggregate, any Realized Losses incurred realized with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date, stating separately the amount of Special Hazard Losses, Fraud Losses and Bankruptcy Losses and the aggregate amount of such Realized Losses, and the remaining Special Hazard Loss Amount, Fraud Loss Amount and Bankruptcy Loss Amount; (ixviii) the amount of the Securities Administrator Fees, Trustee Fees, Master Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums Servicing Fees paid during the Collection Due Period to which such distribution relates; (xix) the number and aggregate Scheduled Principal Balance outstanding principal balance of Mortgage Loans, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding outstanding, (b) Delinquent delinquent 30 to 59 days on a contractual basisdays, (c) Delinquent delinquent 60 to 89 days on a contractual basisdays, (d) Delinquent delinquent 90 or more days on a contractual basisdays, (e) as to which foreclosure proceedings have been commenced, all as of the close of business on the last Business Day of the calendar month immediately before the month in which that Distribution Date occurs, (f) in bankruptcy, (g) that are REO Properties, (h) that are Charged-off Loans and (i) that are Released Mortgage Loans (the information in this item (ix) will be calculated using the MBA delinquency method); (x) the deemed principal balance of each REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property any Mortgage Loan that became a an REO Property during the preceding calendar month, the principal balance of such Mortgage Loan and the number of such Mortgage Loans as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Interest Shortfalls and Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution distributions made on such Distribution Date; (xiv) the Certificate Interest Rate or Component Interest Rate applicable to such Distribution Date with respect to each Class of CertificatesCertificates and each Component, respectively; (xv) the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xviixvi) the amount of any Overcollateralization Deficiency Amount payments distributed to the Class X Certificates for such Distribution Date; (xvii) the aggregate outstanding Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, after giving effect to the distributions distribution made in on such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates of the Certificates; and (xx) the amount of any payments made by the Cap Provider Counterparty to the Trustee on behalf of the Supplemental Interest Trust Fund under the any Cap Agreement; (xix) a statement as to whether any exchanges of Exchangeable Certificates or Exchange Certificates have taken place since the preceding Distribution Date, and, if applicable, the Class of Certificates, certificate balances, including notional balances, certificate interest rates, and any interest and principal paid, including any shortfalls allocated, of any classes of certificates that were received by the Certificateholder as a result of such exchange; (xx) the amount of any FPD Premiums, if any, for such Distribution Date; and (xxi) the amount of any Soft Prepayment Penalties and Hard Prepayment Penalties collected by the Master Servicer in respect of the Designated Mortgage Loans and paid to the Class P Components of the Class 1-A9 Certificates, in the case of Soft Prepayment Penalties, and the Class 1-A10 Certificates, in the case of Hard Prepayment Penalties. In addition to the information listed above, for every year in which the Depositor is subject to Exchange Act reporting with respect to the Certificates, such Distribution Date Statement shall also include, to the extent that the Trustee shall have received any such information from the Depositor, the Sponsor, the Master Servicer or the Servicer, as applicable, no later than four Business Days prior to the related Distribution Date, such other information as is required by Form 10-D, including, but not limited to, the information required by Item 1121 (§ 229.1121) of Regulation AB, other than those data elements specified in Item 1121(a)(11), (12) and (14) for as long as reports on From 10-D are required to be filed by the Trustee pursuant to Section 6.20. In the case of information furnished pursuant to subclauses (i), (ii) and (vivii) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. On any Distribution Date after the occurrence of a Section 7.01(c) Purchase Event, the information required by subclauses (i), (iii), (iv), (v), (vii), (viii), (ix), (x), (xi), (xii) and (xvi) shall be provided to the Holder of the LT-R Certificate and the LTURI Holder with regard to the Lower Tier REMIC I Uncertificated Regular Interests in lieu of the Certificates. The Securities Administrator Trustee shall make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities AdministratorTrustee’s internet website. The Securities AdministratorTrustee’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇.▇.▇▇/▇▇▇.” Assistance in using the website can be obtained by calling the Securities AdministratorTrustee’s customer service desk at ▇-(▇▇▇-) ▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator Trustee based solely on Mortgage Loan data provided to the Securities Administrator Trustee by the Master Servicer (in a format attached hereto as Exhibit V or in such other format mutually agreed to by the Securities Administrator Trustee and the Master Servicer) no later than 12:00 p.m.(noon) 2:00 p.m. Eastern Standard Time four Business Days prior to the Distribution DateDate (or such other time period set forth in Section 9.23(b)). In preparing or furnishing the foregoing information Mortgage Loan data to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator Master Servicer shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans (including any First Payment Default Mortgage Loan) and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator Master Servicer shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. In preparing or furnishing the foregoing information to the Certificateholders, the Trustee shall be entitled to rely conclusively on the accuracy and completeness of the information and data (i) regarding the Mortgage Loans and the related REO Property, that has been provided to the Trustee by the Master Servicer, and (ii) regarding the Cap Agreements, that has been provided to the Trustee by the Cap Counterparty, and the Trustee shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Trustee shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors or omissions in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall will be promptly forwarded to the Securities AdministratorMaster Servicer, the Securities Administrator Master Servicer shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator Master Servicer shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the such Master Servicer’s actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections Section 4.03(a)(i) and 4.03(a)(ii(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the TrusteeFund. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information (to the extent available to the Master Servicer pursuant to this Agreement and each Servicing Agreement) as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information). (d) The Securities Administrator shall Trustee shall, to the extent reasonably available, furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall shall, to the extent reasonably available, provide the Securities Administrator Trustee with such information as is necessary for the Securities Administrator Trustee to prepare such reports (and the Securities Administrator Trustee may rely solely upon such information). (e) So long as not prohibited by applicable law, the Master Servicer shall provide to the Depositor or to any party designated by the Depositor, as promptly as practicable upon the Depositor’s request, any and all loan-level information that the Depositor may request in any format reasonably requested by the Depositor.

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator Trustee shall have prepared (based solely on information provided deliver or cause to be delivered by the Master Servicer first class mail to each Certificateholder and the Trustee or the Cap Provider) and shall make available to the Trustee, any NIMS Insurer, the Credit Risk Manager and each Certificateholder Class 2-A1 Certificate Insurer a written report setting forth the following information information, by Mortgage Pool and Certificate Group (on the basis of Mortgage Loan level information obtained from the Servicersapplicable Servicer): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates Certificates, other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principalprincipal in each Mortgage Pool; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates Certificates, other than any Class of Principal Only Certificates, allocable to interest and interest, including any Accrual Amount added to the calculation thereofClass Principal Amount of any Class of Accrual Certificates; (iii) the amount, if any, of any distribution to the Holders of the Class P Certificates, the Class X Certificates and the a Residual Certificate; (iv) (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers Master Servicer or any Servicer (or the Master ServicerTrustee) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) the total number of Mortgage Loans, the aggregate Scheduled Aggregate Principal Balance of all the Mortgage Loans as and the Non-AP Pool Balance of the close of business on the last day of the related Collection Periodeach Mortgage Pool for such Distribution Date, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) aboveabove (and to the addition of any Accrual Amount in the case of any Class of Accrual Certificates), separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts;Realized Losses: (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) the amount of any Realized Losses incurred realized with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date, stating separately the amount of Special Hazard Losses, Fraud Losses and Bankruptcy Losses and the aggregate amount of such Realized Losses, and the remaining Special Hazard Loss Amount, Fraud Loss Amount and Bankruptcy Loss Amount; (ixviii) the amount of the Securities Administrator Fees, Trustee Master Servicing Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums Trustee Fee paid during the Collection Due Period to which such distribution relates; (xix) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basisdelinquent one month, (c) Delinquent 60 to 89 days on a contractual basisdelinquent two months, (d) Delinquent 90 delinquent three or more days on a contractual basismonths, and (e) as to which foreclosure proceedings have been commenced, commenced as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, ; (fx) the deemed principal balance of each REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in bankruptcy and (g) that are REO Propertieswhich such Distribution Date occurs; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property any Mortgage Loan that became a an REO Property during the preceding calendar month, the principal balance of such Mortgage Loan and the number of such Mortgage Loans as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Interest Shortfalls and Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xiv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates; (xv) the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xviixvi) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions Insured Payments made in such Distribution Date; (xviii) respect of Class 2-A1 Guaranteed Distributions paid under the aggregate amount of any insurance claim payments received with respect to each Pool Class 2-A1 Certificate Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates of the CertificatesPolicy; and (xxxvii) the amount of any payments made other "loan-level" information for any Mortgage Loans that are delinquent three or more months and any REO Property held by the Cap Provider Trust that is reported by the Master Servicer to the Trust Fund under the Cap AgreementTrustee. In the case of information furnished pursuant to subclauses (i), (ii) and (viviii) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities Administrator’s internet website. The Securities Administrator’s internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator Trustee based solely on Mortgage Loan data provided to the Securities Administrator Trustee by the Master Servicer (in a format agreed to by the Securities Administrator and the Master Servicer) no later than 12:00 p.m.(noon) Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information Mortgage Loan data to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator Master Servicer shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator Master Servicer shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Trustee shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in Upon request, the Trustee shall also deliver or cause to be delivered by first paragraph of this Section 4.03(a) shall be provided class mail to the Trustee by Depositor a copy of the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior above-described written report, to the Distribution Datefollowing address: Mortgage Finance Group, ▇▇▇▇▇▇ Brothers Inc., Three World Financial Center, ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇, New York, New York, 10285, Attention: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇, or to such other address as the Depositor may designate. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall will be promptly forwarded to the Securities AdministratorMaster Servicer, the Securities Administrator Master Servicer shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator Master Servicer shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the such Master Servicer's actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available send to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(iiSection 4.03(a) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the Trustee. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the CodeFund. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information)reports. (d) The Securities Administrator shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information).

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator Trustee shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderServicer) and shall make available to the Trustee, any NIMS Insurer, the Credit Risk Manager and each Certificateholder a report setting forth the following information information, by Mortgage Pool and Certificate Group (on the basis of Mortgage Loan level information obtained from the ServicersMaster Servicer): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates Certificates, other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including any Subsequent Recovery, Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principalprincipal in each Mortgage Pool; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and interest, including any Accrual Amount added to the calculation thereofClass Principal Amount of any Class of Accrual Certificates; (iii) the amount, if any, of any distribution to the Holders of the Class P Certificates, the Class X Certificates and the a Residual Certificate; (iv) (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers Master Servicer or any Servicer (or or, if applicable, the Master ServicerTrustee) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) the total number of Mortgage Loans, the aggregate Scheduled Aggregate Principal Balance of all the Mortgage Loans as and the Pool Balance of the close of business on the last day of the related Collection Periodeach Mortgage Pool for such Distribution Date, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) aboveabove (and to the addition of any Accrual Amount in the case of any Class of Accrual Certificates), separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts;Realized Losses: (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) the amount of any Realized Losses incurred realized with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date, stating separately the amount of Special Hazard Losses, Fraud Losses and Bankruptcy Losses and the aggregate amount of such Realized Losses, and the remaining Special Hazard Loss Amount, Fraud Loss Amount and Bankruptcy Loss Amount; (ixviii) the amount of the Securities Administrator Fees, Trustee Master Servicing Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums Trustee Fee paid during the Collection Due Period to which such distribution relates; (xix) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basisdelinquent one month, (c) Delinquent 60 to 89 days on a contractual basisdelinquent two months, (d) Delinquent 90 delinquent three or more days on a contractual basismonths, and (e) as to which foreclosure proceedings have been commenced, as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property became a REO Property commenced as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xiix) the deemed aggregate principal balance of all REO Properties as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xi) with respect to substitution of Mortgage Loans in the preceding calendar month, the aggregate Scheduled Principal Balance of each all such Deleted Mortgage LoanLoans, and of each all Qualifying Substitute Mortgage LoanLoans; (xiiixii) the aggregate outstanding Carryforward Interest, Interest Shortfalls and Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xivxiii) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates; (xv) the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvixiv) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates of the Certificates; and (xxxv) the amount of any payments made by the Cap Provider to each Class of Certificates under Section 5.02(k) hereof that would otherwise have been made to the Trust Fund Class 4-AX Certificates; (xvi) the amount of any payments made to each Class of Certificates under Section 5.02(k) hereof that would otherwise have been made to the Cap AgreementClass 4-PAX Certificates; (xvii) the amount of any payments made to each Class of Certificates that are treated as payment received in respect of a REMIC 5 Regular Interest and the amount of any payments to each Class of Certificates that are not treated as payments in respect of a REMIC 5 Regular Interest; and (xviii) with respect to the Class 4-A1, Class 4-A2 and Class 4-A3 Certificates and each Class of Subordinate Certificates (other than the Class I-B Certificates), the amount of any Basis Risk Shortfalls or Unpaid Basis Risk Shortfalls as of such Distribution Date. In the case of information furnished pursuant to subclauses (i), (ii) and (viviii) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall Trustee will make such report and any additional loan level information (and, at its option, any additional files provided by the Master Servicer containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities Administrator’s Trustee's internet website. The Securities Administrator’s Trustee's internet website shall initially be located at “▇▇▇.▇▇▇▇▇▇▇▇.▇▇▇.” /▇▇▇. Assistance in using the website can be obtained by calling the Securities Administrator’s Trustee's customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator Trustee based solely on Mortgage Loan data provided to the Securities Administrator Trustee by the Master Servicer (in a format agreed to by the Securities Administrator and the Master Servicer) no later than 12:00 p.m.(noon) Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information Mortgage Loan data to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator Master Servicer shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator Master Servicer shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Trustee shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall Trustee will be promptly forwarded to the Securities AdministratorMaster Servicer, the Securities Administrator Master Servicer shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator Master Servicer shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the such Master Servicer's actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available shall, upon written request, send to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(iiSection 4.03(a) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the TrusteeFund. The Trustee Such requirement shall be deemed to have been satisfied this requirement if it forwards to the extent such information is provided pursuant to applicable requirements of the Code from time to time in any other format permitted by the Codeeffect. The Master Servicer shall provide the Trustee with such Mortgage Loan level information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information)reports. (d) The Securities Administrator shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information).

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator Trustee shall have prepared prepare (based solely on information provided by the Master Servicer and Servicer, the Trustee Cap Providers or the Cap ProviderSwap Counterparty) and shall make available to the TrusteeCertificateholders, the Swap Counterparty and any NIMS Insurer, the Credit Risk Manager and each Certificateholder Insurer a written report setting forth the following information (on the basis of Mortgage Loan level information obtained from the ServicersServicers and in the case of clause (xviii) below, based on information provided by the Trustee (or the Paying Agent on behalf of the Trustee)): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of LIBOR Certificates and Subordinate Certificates (other than any Class of Notional Certificates, to the extent applicable, ) allocable to principal on the Mortgage Loans, including any Subsequent Recovery, Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of LIBOR Certificates, Subordinate Certificates and Notional Certificates allocable to interest and the calculation thereof; (iii) the amount, if any, of any distribution distributions to the Holders of the Class P CertificatesC, Class AP, Class X and Class R Certificates on such Distribution Date, stated separately, and the aggregate amounts, if any, of distributions to the Holders of the Class C, Class X and Class R Certificates and the Residual Certificateon all Distribution Dates, stated separately; (iv) (A) the aggregate amount of any Advances required to be made by or on behalf as of the Servicers (or end of the Master Servicer) month immediately preceding the month in which such Distribution Date occurs by any Servicer with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to any Applied Loss Amounts; (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ixviii) the amount of the Securities Administrator Fees, Trustee Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums paid during the Collection Period to which such distribution relates; (xix) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding outstanding, (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, all as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO PropertiesProperties (the information in this item (ix) to be calculated utilizing the ABS delinquency method); (xix) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xiixi) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiiixii) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Deferred Amounts, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each applicable Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xivxiii) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of CertificatesCertificates (with a notation if such Certificate Interest Rate reflects the application of the Net Funds Cap); (xvxiv) the Interest Remittance Amount, the Principal Remittance Amount, the Principal Distribution Amount and the Principal Remittance Overcollateralization Release Amount applicable to such Distribution Date; (xvixv) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvi) the Overcollateralization Amount after giving effect to the distributions made on such Distribution Date; (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount level of any insurance claim payments received with respect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered BalanceLIBOR; (xix) the level amount of LIBOR any payments made to each Class of Certificates that are treated as payments received in respect of a REMIC 3 Regular Interest and the Certificate amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC 3 Regular Interest; (xx) reserved; (xxi) the amount of any Net Swap Payment to the Supplemental Interest Rates of Trust made pursuant to Section 5.02, any Net Swap Payment to the CertificatesSwap Counterparty made pursuant to Section 5.02, any Swap Termination Payment to the Supplemental Interest Trust made pursuant to Sections 5.02 and any Swap Termination Payment to the Swap Counterparty made pursuant to Section 5.02; and (xxxxii) the amount of any payments made by the Cap Provider to the Trust Fund under the Interest Rate Cap Agreement. In the case of information furnished pursuant to subclauses sub-clauses (i), (ii) and (viviii) above, the amounts shall (except in the case of the report delivered with respect to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator Trustee, the Master Servicer and the Sponsor will negotiate in good faith with the Rating Agencies to reach agreement on the reporting of any additional information concerning loan modifications to be included in the monthly report to Certificateholders. In addition to the information listed above for any year in which the Depositor is subject to Exchange Act reporting with respect to the Certificates, such Distribution Date report shall also include such other information as is required by Form 10-D, including, but not limited to, the information required by Item 1121 (§ 229.1121) of Regulation AB to the extent that the Trustee shall have received any such information from the Depositor, the Sponsor, the Master Servicer, any Servicer, any Custodian, the Cap Provider or any Subservicer or Subcontractor therefor, as applicable, no later than four Business Days prior to the Distribution Date. The Trustee will make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) provided to it by the Master Servicer available each month to the TrusteeCertificateholders, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities AdministratorTrustee’s internet website. The Securities AdministratorTrustee’s internet website shall initially be located at “▇▇▇▇://▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ and assistance in using the website can be obtained by emailing the Trustee’s customer service desk at ▇▇.▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇▇▇▇.▇@▇▇▇▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee shall provide a “zero settlement file” to Bloomberg L.P. within seven (7) calendar days after the receipt of the collateral data file from the Depositor, but in no event later than the first Distribution Date, which shall contain all of the information in the initial Monthly Report (without giving effect to any distributions); provided, however, that in no event will such zero settlement file contain any mortgagor-specific information. The foregoing information and reports shall be prepared and determined by the Securities Administrator Trustee based solely on Mortgage Loan data provided to the Securities Administrator Trustee by the Master Servicer (in a format agreed to by the Securities Administrator Trustee and the Master Servicer) no later than 12:00 p.m.(noon) 2:00 p.m. Eastern Standard Time four Business Days prior to the Distribution DateDate or such other time period as set forth in Section 9.23(c). In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurerinformation, the Securities Administrator Trustee shall be entitled to rely conclusively on the accuracy and completeness of the information or data (i) regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each the Servicer and to the Trustee by the Master Servicer, (ii) regarding the Interest Rate Cap Agreement that has been provided to the Trustee by the Cap Provider and (iii) regarding the Swap Agreement that has been provided to the Trustee by the Swap Counterparty, and the Securities Administrator Trustee shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Trustee shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors or omissions in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) Master Servicer shall be entitled to conclusively rely on the Mortgage Loan data provided to the Trustee by the Securities Administrator each Servicer and shall have no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Dateliability for any errors or omissions in such Mortgage Loan data. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, company (which request, if received by the Trustee, shall Trustee will be promptly forwarded to the Securities AdministratorMaster Servicer), the Securities Administrator Master Servicer shall provide, or cause to be provided, to the extent such information is available to the Master Servicer exercising reasonable efforts to obtain such information (or, to the extent that such information or documentation is not required to be provided by a the applicable Servicer under the applicable related Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to the NIM Securities or an investment in the Certificates; provided, however, that the Securities Administrator Master Servicer shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall shall, upon written request, have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and to any NIMS Insurer, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections Section 4.03(a)(i) and 4.03(a)(ii(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, however that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the TrusteeFund. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information (to the extent readily available to the Master Servicer) as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information)reports. (d) The Securities Administrator Trustee shall prepare and file with the IRS, on behalf of the Trust Fund, an application for an employer identification number on IRS Form SS-4 or by any other acceptable method. The Trustee shall also file a Form 8811 as required. The Trustee, upon receipt from the IRS of the Notice of Taxpayer Identification Number Assigned, shall upon request promptly forward a copy of such notice to the Master Servicer and the Depositor. The Trustee shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator Trustee with such information (to the extent readily available to the Master Servicer) as is necessary for the Securities Administrator Trustee to prepare such reports (and comply with the Securities Administrator may rely solely upon such information)foregoing.

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator Trustee shall have prepared (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderSwap Counterparty) and shall make available to the Trustee, any NIMS Insurer, the Swap Counterparty, the Credit Risk Manager Manager, the Seller and each Certificateholder a report setting forth the following information (on the basis of Mortgage Loan level information obtained from the ServicersMaster Servicer): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principal; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates allocable to interest and the calculation thereof; (iii) the amount, if any, of any distribution to the Holders of the Class P CertificatesCertificate, the Class X Certificates and the Residual Certificate; (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers (or the Master Servicer) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) by Mortgage Pool and in the aggregate, the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of CertificatesCertificates and the Component Principal Amount of such Component, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to Applied Loss Amounts; (vii) the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) by Mortgage Pool and in the aggregate, the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ix) the amount of the Securities Administrator Fees, Trustee Fees, Servicing Fees, Credit Risk Manager’s Fees and Pool PMI Insurance Premiums paid during the Collection Period to which such distribution relates; (x) the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basis, (c) Delinquent 60 to 89 days on a contractual basis, (d) Delinquent 90 or more days on a contractual basis, (e) as to which foreclosure proceedings have been commenced, all as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans in any Mortgage Pool with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xiv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates; (xv) with respect to each Mortgage Pool, the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xvii) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance the Bulk PMI Policy and any LPMI Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates of the Certificates; andfor such Distribution Date; (xx) the amount of any payments made by the Cap Provider Net Swap Payment to the Supplemental Interest Trust Fund under made pursuant to Section 5.02, any Net Swap Payment to the Cap AgreementSwap Counterparty made pursuant to Section 5.02, any Swap Termination Payment to the Supplemental Interest Trust made pursuant to Sections 5.02 and any Swap Termination Payment to the Swap Counterparty made pursuant to Section 5.02; and (xxi) the amount of any Final Maturity Reserve Amount deposited in the Final Maturity Reserve Account, and, on the earlier of the Distribution Date in September 2035 and the termination of the Trust Fund, the amount distributed from the Final Maturity Reserve Account. In the case of information furnished pursuant to subclauses (i), (ii) and (vi) above, the amounts shall also (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator Trustee shall make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative formatformat as provided to it by the Master Servicer) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities AdministratorTrustee’s internet website. The Securities Administrator’s Trustee's internet website shall initially be located at “▇▇▇▇://▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ and assistance in using the website can be obtained by emailing the Trustee's customer service desk at ▇▇.▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇▇▇▇.▇@▇▇▇▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator Trustee based solely on Mortgage Loan data provided to the Securities Administrator Trustee by the Master Servicer (in a format agreed to by the Securities Administrator Trustee and the Master Servicer) no later than 12:00 p.m.(noon) 2:00 p.m. Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator Trustee shall be entitled to rely conclusively on the accuracy of the information or data (i) regarding the Mortgage Loans and the related REO Property Property, that has been provided to the Master Servicer by each Servicerthe Servicers and to the Trustee by the Master Servicer and (ii) regarding the Swap Agreement, that has been provided to the Trustee by the Swap Counterparty, and the Securities Administrator Trustee shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Trustee shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) Master Servicer shall be entitled to conclusively rely on the Mortgage Loan data provided to the Trustee by the Securities Administrator Servicers and shall have no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Dateliability for any errors in such Mortgage Loan data. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall be promptly forwarded to the Securities AdministratorMaster Servicer, the Securities Administrator Master Servicer shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator Master Servicer shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections 4.03(a)(i) and 4.03(a)(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the Trustee. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information). (d) The Securities Administrator Trustee shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator Trustee with such information as is necessary for the Securities Administrator Trustee to prepare such reports (and the Securities Administrator Trustee may rely solely upon such information).

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator Trustee shall have prepared prepare (based solely on information provided by the Master Servicer and the Trustee or the Cap Provider) and shall make available to the TrusteeCertificateholders, the Certificate Insurer and any NIMS Insurer, the Credit Risk Manager and each Certificateholder Insurer a written report setting forth the following information by Mortgage Pool (on the basis of Mortgage Loan level information obtained from the Servicersapplicable Servicer): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of LIBOR Certificates and Grantor Trust Certificates, other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principalprincipal in each Mortgage Pool; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of LIBOR Certificates and Grantor Trust Certificates allocable to interest and the calculation thereof; (iii) the amount, if any, of any distribution distributions to the Holders of the Class P CertificatesC, Class X and Class R Certificates on such Distribution Date, stated separately, and the aggregate amounts, if any, of distributions to the Holders of the Class C, Class X and Class R Certificates and the Residual Certificateon all Distribution Dates, stated separately; (iv) the amount, if any, of any distributions to the Cap Provider with respect to each Class of Grantor Trust Certificates (A) as interest on any outstanding Cap Deferred Interest Amount, (B) in reduction of such Cap Deferred Interest Amount or (C) as a termination payment or for any other reason; (v) the amount of the Cap Deferred Interest Amount for each Class of Grantor Trust Certificates after distributions on such Distribution Date; (vi) by Mortgage Pool and in the aggregate (A) the aggregate amount of any Advances required to be made by or on behalf as of the Servicers end of the month immediately preceding the month in which such Distribution Date occurs by the Master Servicer (or by the Master ServicerTrustee as successor master servicer) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (vvii) by Mortgage Pool and in the aggregate, the total number of Mortgage Loans, the aggregate Scheduled Principal Balance of all the Mortgage Loans as of the close of business on the last day of the related Collection Period, after giving effect to payments allocated to principal reported under clause (i) above; (viviii) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts due to any Applied Loss Amounts; (viiix) by Mortgage Pool and in the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) aggregate, the amount of any Realized Losses incurred with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date; (ixx) by Mortgage Pool and in the aggregate, the amount of the Securities Administrator Fees, Trustee Fees, General Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums paid during the Collection Period to which such distribution relates; (xxi) by Mortgage Pool and in the aggregate, the number and aggregate Scheduled Principal Balance of Mortgage Loans, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basisdelinquent one month, (c) Delinquent 60 to 89 days on a contractual basisdelinquent two months, (d) Delinquent 90 delinquent three or more days on a contractual basismonths, (e) as to which foreclosure proceedings have been commenced, commenced as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, (f) in bankruptcy and (g) that are REO Properties; (xixii) by Mortgage Pool and in the aggregate, the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property became a REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xiixiii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiiixiv) the aggregate outstanding Carryforward Interest, Net Prepayment Interest Shortfalls, Deferred Amounts, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each applicable Class of Certificates, after giving effect to the distribution made on such Distribution Date; (xivxv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of CertificatesCertificates (with a notation if such Certificate Interest Rate reflects the application of the applicable Net Funds Cap); (xvxvi) the Interest Remittance Amount, the Principal Remittance Amount, the Principal Distribution Amount and the Principal Remittance Overcollateralization Release Amount applicable to such Distribution Date; (xvixvii) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed); (xviixviii) the Overcollateralization Amount after giving effect to the distributions made on such Distribution Date; (xix) the amount of any Overcollateralization Deficiency Amount after giving effect to the distributions made in such Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xixxx) the level of LIBOR and the Certificate Interest Rates Rate of each of the LIBOR Certificates and the Grantor Trust Certificates; (xxi) the amount of the monthly Certificate Insurance Premiums (and the aggregate Certificate Insurance Premium, if different) due to the Certificate Insurer on the related Distribution Date and the amount of any Guaranteed Distributions paid to the Class 1-A3B Certificates under the Certificate Insurance Policy; (xxii) the amount of any payments made to each Class of Certificates that are treated as payments received in respect of a REMIC 2 Regular Interest and the amount of any payments to each Class of Certificates that are not treated as payments received in respect of a REMIC 2 Regular Interest; and (xxxxiii) the amount of any payments made by the Cap Provider to the Trust Fund under the Deferred Interest Cap AgreementAgreements. In the case of information furnished pursuant to subclauses sub-clauses (i), (ii) and (vi) above, the amounts shall (except in the case of the report delivered with respect to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. In addition to the information listed above for any year in which the Depositor is subject to Exchange Act reporting with respect to the Certificates, such Distribution Date report shall also include such other information as is required by Form 10-D, including, but not limited to, the information required by Item 1121 (§ 229.1121) of Regulation AB to the extent that the Trustee shall have received any such information from the Depositor, the Sponsor, the Master Servicer, any Servicer, the Custodian, the Cap Provider or any Subservicer or Subcontractor therefor, as applicable, no later than four Business Days prior to the Distribution Date. The Securities Administrator shall Trustee will make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) provided to it by the Master Servicer available each month to Certificateholders, the TrusteeCertificate Insurer, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities AdministratorTrustee’s internet website. The Securities AdministratorTrustee’s internet website shall initially be located at “h▇▇▇://▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ and assistance in using the website can be obtained by emailing the Trustee’s customer service desk at c▇.▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇▇▇▇.▇@▇▇▇▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the 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 Securities Administrator Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above parties regarding any such changes. The Trustee shall provide a “zero settlement file” to Bloomberg L.P. within seven (7) calendar days after the receipt of the collateral data file from the Depositor, but in no event later than the first Distribution Date, which shall contain all of the information in the initial Monthly Report (without giving effect to any distributions); provided, however, that in no event will such zero settlement file contain any mortgagor-specific information. The foregoing information and reports shall be prepared and determined by the Securities Administrator Trustee based solely on Mortgage Loan data provided to the Securities Administrator Trustee by the Master Servicer (in a format agreed to by the Securities Administrator Trustee and the Master Servicer) no later than 12:00 p.m.(noon) 2:00 p.m. Eastern Standard Time four Business Days prior to the Distribution DateDate or such other time period as set forth in Section 9.23(c). In preparing or furnishing the foregoing information to the Trustee, Certificateholders and any NIMS Insurerinformation, the Securities Administrator Trustee shall be entitled to rely conclusively on the accuracy and completeness of the information or data (i) regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicerthe Servicer and to the Trustee by the Master Servicer and (ii) regarding the Cap Agreement that has been provided to the Trustee by the Cap Provider, and the Securities Administrator Trustee shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Trustee shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors or omissions in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS the Certificate Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall be promptly forwarded to the Securities Administrator, the Securities Administrator Master Servicer shall provide, or cause to be provided, to the extent such information is available to the Master Servicer exercising reasonable efforts to obtain such information (or, to the extent that such information or documentation is not required to be provided by a the applicable Servicer under the applicable related Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS the Certificate Insurer and or such Certificateholder Certificateholder, as applicable, such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to the NIM Securities or an investment in the Certificates; provided, however, that the Securities Administrator Master Servicer shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall shall, upon written request, have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and to any NIMS Insurer, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections Section 4.03(a)(i) and 4.03(a)(ii(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, however that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the TrusteeFund. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information)reports. (d) The Securities Administrator Trustee shall prepare and file with the Internal Revenue Service (“IRS”), on behalf of the Trust Fund, an application for an employer identification number on IRS Form SS-4 or by any other acceptable method. The Trustee shall also file a Form 8811 as required. The Trustee, upon receipt from the IRS of the Notice of Taxpayer Identification Number Assigned, shall upon request promptly forward a copy of such notice to the Master Servicer and the Depositor. The Trustee shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator Trustee with such information (to the extent readily available to the Master Servicer) as is necessary for the Securities Administrator Trustee to prepare such reports (and comply with the Securities Administrator may rely solely upon such information)foregoing.

Reports to Certificateholders. (a) On each Distribution Date, the Securities Administrator Trustee shall have prepared prepare (based solely on information provided by the Master Servicer and the Trustee or the Cap ProviderServicer) and shall make available to the Trustee, any NIMS Insurer, the Credit Risk Manager each Certificateholder and each Certificateholder Rating Agency a report setting forth the following information (on the basis of Mortgage Loan level information obtained from the ServicersServicers and the Master Servicer): (i) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates Certificates, other than any Class of Notional Certificates, to the extent applicable, allocable to principal on the Mortgage Loans, including any Subsequent Recovery, Liquidation Proceeds and Insurance Proceeds, stating separately the amount attributable to scheduled principal payments and unscheduled payments in the nature of principalprincipal in each Collateral Group; (ii) the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates (other than the Class AP Certificates), allocable to interest and the calculation thereofinterest; (iii) the amount, if any, of any distribution to the Holders of the Class P Certificates, the Class X Certificates and the a Residual Certificate; (iv) for each Collateral Group and in the aggregate, (A) the aggregate amount of any Advances required to be made by or on behalf of the Servicers Master Servicer or any Servicer (or the Master ServicerTrustee) with respect to such Distribution Date, (B) the aggregate amount of such Advances actually made, and (C) the amount, if any, by which (A) above exceeds (B) above; (v) the total number of Mortgage Loans, the aggregate Scheduled Aggregate Principal Balance of all the Mortgage Loans as and the Collateral Group of the close of business on the last day of the related Collection Periodeach Collateral Group for such Distribution Date, after giving effect to payments allocated to principal reported under clause (i) above; (vi) the Class Principal Amount (or Class Notional Amount) of each Class of Certificates, to the extent applicable, as of such Distribution Date after giving effect to payments allocated to principal reported under clause (i) above, separately identifying any reduction of any of the foregoing Certificate Principal Amounts or Class Notional Amounts due to Applied Loss AmountsRealized Losses; (vii) for each Collateral Group and in the amount of any Prepayment Premiums distributed to the Class P Certificates; (viii) the amount of aggregate, any Realized Losses incurred realized with respect to the Mortgage Loans (x) in the applicable Prepayment Period and (y) in the aggregate since the Cut-off Date, stating separately the amount of Special Hazard Losses, Fraud Losses and Bankruptcy Losses and the aggregate amount of such Realized Losses, and the remaining Special Hazard Loss Amount, Fraud Loss Amount and Bankruptcy Loss Amount; (ixviii) the amount of the Securities Administrator Fees, Trustee Fees, Master Servicing Fees, Credit Risk Manager’s Fees and Pool Insurance Premiums Servicing Fees paid during the Collection Due Period to which such distribution relates; (xix) the number and aggregate Scheduled Principal Balance of Mortgage LoansLoans in each Collateral Group and in the aggregate, as reported to the Securities Administrator Trustee by the Master Servicer, (a) remaining outstanding (b) Delinquent 30 to 59 days on a contractual basisdelinquent one month, (c) Delinquent 60 to 89 days on a contractual basisdelinquent two months, (d) Delinquent 90 delinquent three or more days on a contractual basismonths, and (e) as to which foreclosure proceedings have been commenced, commenced as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs, ; (fx) the deemed principal balance of each REO Property as of the close of business on the last Business Day of the calendar month immediately preceding the month in bankruptcy and (g) that are REO Propertieswhich such Distribution Date occurs; (xi) the aggregate Scheduled Principal Balance of any Mortgage Loans with respect to which the related Mortgaged Property any Mortgage Loan that became a an REO Property during the preceding calendar month, the principal balance of such Mortgage Loan and the number of such Mortgage Loans as of the close of business on the last Business Day of the calendar month immediately preceding the month in which such Distribution Date occurs; (xii) with respect to substitution of Mortgage Loans in the preceding calendar month, the Scheduled Principal Balance of each Deleted Mortgage Loan, and of each Qualifying Substitute Mortgage Loan; (xiii) the aggregate outstanding Carryforward Interest, Interest Shortfalls and Net Prepayment Interest Shortfalls, Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, if any, for each Class of Certificates, after giving effect to the distribution distributions made on such Distribution Date; (xiv) the Certificate Interest Rate applicable to such Distribution Date with respect to each Class of Certificates; (xv) the Interest Remittance Amount and the Principal Remittance Amount applicable to such Distribution Date; (xvi) if applicable, the amount of any shortfall (i.e., the difference between the aggregate amounts of principal and interest which Certificateholders would have received if there were sufficient available amounts in the Certificate Account and the amounts actually distributed);; and (xviixvi) the amount of any Overcollateralization Deficiency Class P Distributable Amount after giving effect allocated to the distributions made in such Class P Certificates for that Distribution Date; (xviii) the aggregate amount of any insurance claim payments received with respect to each Pool Insurance Policy during the related Collection Period, the Old Republic Undrawn Pool Insurance Policy Balance, the United Guaranty Undrawn Pool Insurance Policy Balance, the Old Republic Covered Balance and the United Guaranty Covered Balance; (xix) the level of LIBOR and the Certificate Interest Rates of the Certificates; and (xx) the amount of any payments made by the Cap Provider to the Trust Fund under the Cap Agreement. In the case of information furnished pursuant to subclauses (i), (ii) and (vivii) above, the amounts shall (except in the case of the report delivered to the holder of the Class X Certificates) be expressed as a dollar amount per $1,000 of original principal amount of Certificates. The Securities Administrator shall Trustee will make such report and any additional loan level information (and, at its option, any additional files containing the same information in an alternative format) available each month to the Trustee, any NIMS Insurer, Certificateholders and the Rating Agencies via the Securities AdministratorTrustee’s internet website. The Securities Administrator’s internet website shall , initially be located at “▇▇▇.▇://▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at ▇-▇▇▇-▇▇▇-▇▇▇▇. Such parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating suchupon request. The Securities Administrator Trustee shall have the right to change the way such statements are distributed in order to make such distribution more convenient and/or more accessible to the above above-parties and the Securities Administrator Trustee shall provide timely and adequate notification to all above above-parties regarding any such changes. The foregoing information and reports shall be prepared and determined by the Securities Administrator Trustee based solely on Mortgage Loan data provided to the Securities Administrator Trustee by the Master Servicer (in a format agreed to by the Securities Administrator Trustee and the Master Servicer) no later than 12:00 p.m.(noon) 2:00 p.m. Eastern Standard Time four Business Days prior to the Distribution Date. In preparing or furnishing the foregoing information Mortgage Loan data to the Trustee, Certificateholders and any NIMS Insurer, the Securities Administrator Master Servicer shall be entitled to rely conclusively on the accuracy of the information or data regarding the Mortgage Loans and the related REO Property that has been provided to the Master Servicer by each Servicer, and the Securities Administrator Master Servicer shall not be obligated to verify, recompute, reconcile or recalculate any such information or data. The Securities Administrator Trustee shall be entitled to conclusively rely on the Mortgage Loan data provided by the Master Servicer and shall have no liability for any errors in such Mortgage Loan data. The information and reports described in the first paragraph of this Section 4.03(a) shall be provided to the Trustee by the Securities Administrator no later than 12:00 p.m.(noon) Eastern Standard Time one Business Day prior to the Distribution Date. (b) Upon the reasonable advance written request of any NIMS Insurer or any Certificateholder that is a savings and loan, bank or insurance company, which request, if received by the Trustee, shall will be promptly forwarded to the Securities AdministratorMaster Servicer, the Securities Administrator Master Servicer shall provide, or cause to be provided, (or, to the extent that such information or documentation is not required to be provided by a Servicer under the applicable Servicing Agreement, shall use reasonable efforts to obtain such information and documentation from such Servicer, and provide) to any NIMS Insurer and such Certificateholder such reports and access to information and documentation regarding the Mortgage Loans as any NIMS Insurer or such Certificateholder may reasonably deem necessary to comply with applicable regulations of the Office of Thrift Supervision or its successor or other regulatory authorities with respect to an investment in the Certificates; provided, however, that the Securities Administrator Master Servicer shall be entitled to be reimbursed by such Certificateholder or the NIMS Insurer for the such Master Servicer’s actual expenses incurred in providing such reports and access. (c) Within 90 days, or such shorter period as may be required by statute or regulation, after the end of each calendar year, the Trustee shall have prepared and the Trustee shall make available to any NIMS Insurer and each Person who at any time during the calendar year was a Certificateholder of record, and make available to Certificate Owners (identified as such by the Clearing Agency) in accordance with applicable regulations, a report summarizing the items provided to any NIMS Insurer and the Certificateholders pursuant to Sections Section 4.03(a)(i) and 4.03(a)(ii(ii) on an annual basis as may be required to enable any NIMS Insurer and such Holders to prepare their federal income tax returns; provided, however, that this Section 4.03(c) shall not be applicable where relevant reports or summaries are required elsewhere in this Agreement. Such information shall also include the amount of original issue discount accrued on each Class of Certificates and information regarding the expenses of the Trust Fund furnished by the Master Servicer to the TrusteeFund. The Trustee shall be deemed to have satisfied this requirement if it forwards such information in any other format permitted by the Code. The Master Servicer shall provide the Trustee with such information as is necessary for the Trustee to prepare such reports (and the Trustee may rely solely upon such information)reports. (d) The Securities Administrator shall furnish any other information that is required by the Code and regulations thereunder to be made available to Certificateholders. The Master Servicer shall provide the Securities Administrator with such information as is necessary for the Securities Administrator to prepare such reports (and the Securities Administrator may rely solely upon such information).