Common use of Statements to Noteholders Clause in Contracts

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Group: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Group: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. AssiAss▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e re Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture TrusTru▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy ify each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Group: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. AssiAssistance in using the Indenture Tr▇▇▇▇▇▇ ▇'▇ ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇e Trustee's internet website may ▇ be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture TrusTrustee shall notify each Noteholder, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicerervicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with (i) On each payment to NoteholdersDetermination Date preceding a Quarterly Payment Date, the Master Servicer Administrator shall deliver provide to the Indenture Trustee and any Swap Counterparties (with a copy to the data necessary Rating Agencies) for the Indenture Trustee to prepare forward on such succeeding Quarterly Payment Date to each Noteholder of record a statement (substantially in the "Monthly Statement") for each Payment Date with form of Exhibit B setting forth at least the following information with respect as to each Loan Groupthe Notes: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iiiA) the amount of Note Interest in such distribution allocable to principal of the payment related to each Notes, the amount thereof distributable as principal of the Class of A-1 Notes, the Class A-2 Notes and the applicable Note RateSubordinate Notes, and the amount thereof attributable to the Principal Distribution Amount and the amount thereof attributable to Reserve Account Excess; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (vB) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect distribution allocable on such Quarterly Payment Date to interest on the paymentClass A-1 Notes; (vi) the amount of principal in the payment, separately stating its components; (viiC) the amount of the reimbursement of previous related Investor Loss Amounts in distribution allocable on such Quarterly Payment Date to interest on the paymentClass A-2 Notes; (viiiD) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the distribution allocable on such Quarterly Payment Date by to interest on the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Subordinate Notes; (xvE) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period[Reserved]; (xviF) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding Pool Balance as of the close of business on the last day of the preceding Collection Period, after giving effect to payments allocated to principal reported under clause (A) above; (G) the aggregate outstanding principal amount of the Class A-1 Notes, the Class A-2 Notes, the Subordinate Notes, the Class A-1 Note Pool Factor, the Class A-2 Note Pool Factor and the Subordinate Note Pool Factor as of such Quarterly Payment Date, after giving effect to payments allocated to principal reported under clause (A) above; (H) the Note Rate applicable with respect to each distribution referred to in clauses (B), (C) and (D) above; (I) the amount of the Servicing Fee paid to the Servicer on such Quarterly Payment Date and on each Monthly Payment Date following the immediately preceding Quarterly Payment Date including a breakdown of the components of the Servicing Fee attributable to each of the items specified in clauses II(i) through (ix) of Section 3.06 of the Servicing Agreement and the amount of any Servicing Fee Shortfall for such Quarterly Payment Date and for each Monthly Payment Date following the immediately preceding Quarterly Payment Date; (xviiiJ) the Note Rate for amount of the related Class of Notes for Administration Fee paid to the Administrator on such Quarterly Payment Date and on each Monthly Payment Date following the immediately preceding Quarterly Payment Date; (xixK) the Trust Swap Payment Amount paid to any Swap Counterparties on such Quarterly Payment Date, the amount of any Net Trust Swap Payment Carryover Shortfall for such Quarterly Payment Date, the Trust Swap Receipt Amounts, if any paid to the Trust on such Quarterly Payment Date and the amount of any Net Trust Swap Receipt Carryover Shortfall for such Quarterly Payment Date; (L) [Reserved]; (M) the amount of the aggregate Realized Losses, if any, for such Collection Period and the balance of Financed Student Loans that are delinquent in each delinquency period as of the end of such Collection Period; (N) the balance of the Reserve Account on such Quarterly Payment Date, after giving effect to changes therein on such Quarterly Payment Date and indicating whether on such Quarterly Payment Date or any Monthly Payment Date since the preceding Quarterly Payment Date any withdrawal was made therefrom pursuant to Section 2(e)(iv), the amount of each such withdrawal and the purpose(s) pursuant to Section 2(e)(iv) for each such withdrawal; (O) For Quarterly Payment Dates during the Revolving Period, the amount on deposit in the Prefunding Account and indicating whether on such Quarterly Payment Date or any Monthly Payment Date since the preceding Quarterly Payment Date any withdrawal was made therefrom pursuant to Section 2(k)(ii), the amount of each such withdrawal and the purposes pursuant to Section 2(k)(ii) for each such withdrawal; (P) for Quarterly Payment Dates during the Revolving Period, the amount deposited into the Collateral Reinvestment Account during the related Collection Period and on the immediately preceding Quarterly Payment Date, and the amount on deposit therein after giving effect to changes therein on such Quarterly Payment Date; (Q) for the Quarterly Payment Date on or immediately following the end of the Revolving Period: (1) the amount remaining on deposit in the Collateral Reinvestment Account that has not been used to make Additional Fundings and (2) the amount remaining in the Prefunding Account; (i) the principal balance and number of Consolidation Loans originated on behalf of the Issuer during the related Collection Period, (ii) the principal balance and number of Add-on Consolidation Loans the principal balances of which have been added to the Trust during the related Collection Period and (iii) the amount withdrawn from the Collateral Reinvestment Account to prepay Student Loans not held by the Issuer that were consolidated through such origination (or addition, in the case of Add-on Consolidation Loans) with one or more Financed Student Loans during such Collection Period; (S) the principal balance and number of Serial Loans conveyed to the Issuer during the related Collection Period, the aggregate Loan Purchase Amounts thereof and the portion thereof attributable to Purchase Premium Amounts; (T) for Quarterly Payment Dates during the Revolving Period, the principal balance and number of New Loans conveyed to the Issuer during the related Collection Period, the aggregate Loan Purchase Amounts thereof and the portion thereof attributable to Purchase Premium Amounts; and (U) the number and principal balances balance of any Mortgage Financed Student Loans, as of the end of the related Collection Period, that are In-School, Grace, Repayment, Deferral, Forbearance or Consolidation Loans in that Loan Group retransferred to as of the Transferor pursuant to each end of Section 2.04 the related Collection Period, and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the a breakdown by number and Cut-off Date Asset Balance principal balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing DateFinanced Student Loans, by school type, interest rate and loan program. The amounts furnished Each amount set forth pursuant to clauses (iiA), (iii) (for Note InterestB), (ivC), (v), (vi), (vii), D) and (viiiE) above shall be expressed as a dollar amount per $1,000 increment [ ] of Notesoriginal principal amount of a Note. If the Monthly Statement is not accessible to any A copy of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it statements referred to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's internet website above may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward Note Owner by a written request to the Indenture Trustee addressed to the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by lawCorporate Trust Office.

Statements to Noteholders. Concurrently with On each payment Determination Date preceding a Distribution Date, pursuant to Noteholders, the Master Servicer Administration Agreement the Administrator shall deliver provide to the Indenture Trustee (with a copy to the data necessary Owner Trustee and the Rating Agencies) for the Indenture Trustee to prepare forward on such succeeding Distribution Date to each holder of record of the Notes a statement (the "Monthly Statement") for each Payment Date with setting forth at least the following information with respect as to each Loan Groupthe Notes, to the extent applicable: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v1) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect distribution allocable to the payment; (vi) the amount principal of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related each Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii2) the amount of any optional advances the distribution allocable to interest on each Class of Notes (including, with respect to the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date Class B Notes and the aggregate amount of optional advances pursuant Class C Notes, the portion allocable to Section 4.03 on Mortgage Loans in Noteholders’ Interest Carryover Shortfall), together with the related Loan Group by interest rates applicable with respect thereto; (3) the Master Servicer outstanding Pool Balance as of the close of business on the Payment last day of the preceding Collection Period, after giving effect to the related payments allocated to principal reported under clause (1) above; (4) the aggregate outstanding principal balance of each Class of Notes as of such Distribution Date, after giving effect to related payments allocated to principal reported under clause (1) above; (5) for each Distribution Date (A) the amount of fees and expenses paid to the Indenture Trustee and the Owner Trustee; (B) the amount of the Servicing Fee and expenses paid to the Servicers; (C) the amount of fees paid to ▇▇▇▇; (D) the amount of the Administration Fee and expenses paid to the Administrator and (E) the amount of the Back-Up Administration Fee and expenses paid to the Back-Up Administrator, and, in each case, with respect to such Collection Period, together with the amount, if any, remaining unpaid after giving effect to all such payments; (6) for each Distribution Date, the amount of the aggregate Realized Losses for the Financed Student Loans, if any, for such Collection Period and the balance of the Financed Student Loans that are delinquent in each delinquency period as of the end of such Collection Period; (7) the balance of the Reserve Account on such Distribution Date, after giving effect to changes therein on such Distribution Date; (xviii) 8) the Note Rate for amounts withdrawn from the related Class of Notes for the Payment Reserve Account on such Distribution Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Groupinformation: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of NotesAmount; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. Section 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Groupforeclosure; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the number and Cut-off off- Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfrhttps://www.abs.bankone.com. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e re Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877800) 722524-10959472. The Indenture TrusTru▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy ify each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with (a) With respect to each payment to NoteholdersPayment Date, the Master Servicer Securities Administrator shall deliver make available via the Securities Administrator's website, initially located at ▇▇▇.▇▇▇▇▇▇▇.▇▇▇, to each Noteholder and each Certificateholder, the Indenture Trustee Depositor, the data necessary to prepare Issuer, the Seller, the Owner Trustee, the Certificate Paying Agent and the Rating Agencies, a statement (the "Monthly Statement") for each Payment Date with setting forth the following information with respect as to each Loan Groupthe Notes, to the extent applicable: (i) the related Investor Floating Allocation Percentage Available Funds, the Basis Risk Shortfall Carryover Amount on each Class of Notes (other than the Class X-1 Notes and Class B Notes) for such Payment Date and the preceding Collection Periodaggregate Net Interest Shortfall on each Class of Notes for such Payment Date; (iia) the amount of such distribution to each Class of Notes (other than the Class X-1 Notes) applied to reduce the Note Principal Balance thereof, and (b) the aggregate amount to be paid to the related Class of Noteholdersincluded therein representing Principal Prepayments; (iii) the amount of Note Interest in the payment related such distribution to Holders of each Class of Notes and the applicable Note Rateallocable to interest; (iv) the amount of any related Unpaid Investor Interest Shortfall in distribution to the paymentCertificates; (v) if the distribution to the Holders of any Class of Notes is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the paymentshortfall; (vi) the amount number and the aggregate Scheduled Principal Balance of principal in the payment, separately stating its componentsMortgage Loans as of the end of the related Due Period; (vii) the amount aggregate Note Principal Balance of each Class of Notes, after giving effect to the amounts distributed on such Payment Date, separately identifying any reduction thereof due to Realized Losses and the aggregate Note Principal Balance of the reimbursement Notes after giving effect to the distribution of previous related Investor Loss Amounts in the paymentprincipal on such Payment Date; (viii) the amount number and aggregate Scheduled Principal Balance of Mortgage Loans (a) as to which the Monthly Payment is delinquent for 31-60 days, 61-90 days, 91 or more days, respectively, (b) in foreclosure and (c) that have become REO Property, in each case as of the aggregate end of unreimbursed related Investor Loss Reduction Amounts after giving effect to the paymentpreceding calendar month; (ix) the amount of any related Basis Risk Carryforward in the paymentMonthly Advances and Compensating Interest payments; (x) the amount of the remaining related Basis Risk Carryforward after giving effect aggregate Realized Losses with respect to the paymentrelated Payment Date and cumulative Realized Losses since the Closing Date; (xi) the Servicing Fee number and aggregate Scheduled Principal Balance of Mortgage Loans repurchased pursuant to the Mortgage Loan Purchase Agreement for the related Payment Date and cumulatively since the Closing Date; (xii) the Note Principal Balance book value (if available) of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the paymentany REO Property; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate Prepayment Interest Shortfalls or Relief Act Shortfalls for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the such Payment Date; and (xxiiixiv) for the first Payment Date, the number and Cut-off Date Asset aggregate Scheduled Principal Balance of Mortgage Loans in that Loan Group purchased pursuant to Section 2.19 of the Servicing Agreement for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of related Payment Date and cumulatively since the Closing Date. The amounts furnished pursuant to clauses (ii), Items (iii) (for Note Interest), and (iv), (v), (vi), (vii), and (viii) above shall be expressed as presented on the basis of a dollar amount per Note having a $1,000 increment denomination. In addition, by January 31 of Noteseach calendar year following any year during which the Notes are outstanding, the Securities Administrator shall furnish a report to each Noteholder of record if so requested in writing at any time during each calendar year as to the aggregate of amounts reported pursuant to (iii) and (iv) with respect to the Notes for such calendar year. If The Securities Administrator may conclusively rely upon the Monthly Statement is not accessible information provided by the Master Servicer to any the Securities Administrator in accordance with Section 2.02 of the Servicing Agreement in its preparation of monthly statements to Noteholders. The Securities Administrator will make the monthly statements provided for in this section (and, at its option, any additional files containing the same information in an alternative format) available each month to Noteholders, the Master Servicereach Noteholder and each Certificateholder, the Credit EnhancerDepositor, or either the Issuer, the Seller, the Owner Trustee, the Certificate Paying Agent and the Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture TrusteeSecurities Administrator's internet website. The address of the Indenture TrusteeSecurities Administrator's internet website where the Monthly Statement will shall initially be accessible is https://www.jpmorgan.com/sfr. Assilocated at "▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ .▇▇▇▇▇▇▇.▇e Trustee's internet ▇▇." Assistance in using the website may can be obtained by calling the Indenture TrusteeSecurities Administrator's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇) ▇▇▇-▇▇▇▇▇ ▇▇▇▇fy each Noteholder, . Parties that are unable to use the Master Servicer, website are entitled to have a paper copy mailed to them via first class mail by calling the Credit EnhancerSecurities Administrator's customer service desk and indicating such. The Securities Administrator may have the right to change the way the monthly 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 Securities Administrator shall be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the monthly statement, and each Rating Agency may affix thereto any disclaimer it deems appropriate in writing its reasonable discretion (without suggesting liability on the part of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by lawparty hereto).

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Group: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the each Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and; (xxiii) for the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date; (xxiv) the Adjusted Loan Group Balance of each Loan Group; and (xxv) the OC Deficiency Amount for each Loan Group. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. AssiAss▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e re Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture TrusTru▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy ify each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with (a) With respect to each payment to NoteholdersPayment Date, the Master Servicer Securities Administrator shall deliver make available via the Securities Administrator’s website, initially located at ▇▇▇.▇▇▇▇▇▇▇.▇▇▇, to each Noteholder and each Certificateholder, the Indenture Trustee Depositor, the data necessary to prepare Issuing Entity, the Seller, the Owner Trustee, the Certificate Paying Agent and the Rating Agencies, a statement (the "Monthly Statement") for each Payment Date with setting forth the following information with respect as to each Loan Groupthe Notes, to the extent applicable: (i) the related Investor Floating Allocation Percentage Available Funds, the Carryover Shortfall Amount on each Class of Notes (other than the Class X Notes and Class B Notes) for the preceding Collection Periodsuch Payment Date; (ii) (a) the amount of such distribution to each Class of Notes (other than the Class X Notes) applied to reduce the Note Principal Balance thereof, and (b) the aggregate amount to be paid to the related Class of Noteholdersincluded therein representing Principal Prepayments; (iii) the amount of Note Interest in the payment related such distribution to Holders of each Class of Notes and the applicable Note Rateallocable to interest; (iv) the amount of any related Unpaid Investor Interest Shortfall in distribution to the paymentCertificates; (v) if the distribution to the Holders of any Class of Notes is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the paymentshortfall; (vi) the amount number and the aggregate Scheduled Principal Balance of principal in the payment, separately stating its componentsMortgage Loans as of the end of the related Due Period; (vii) the amount aggregate Note Principal Balance of each Class of Notes, after giving effect to the amounts distributed on such Payment Date, separately identifying any reduction thereof due to Realized Losses and the aggregate Note Principal Balance of the reimbursement Notes after giving effect to the distribution of previous related Investor Loss Amounts in the paymentprincipal on such Payment Date; (viii) the amount number and aggregate Scheduled Principal Balance of Mortgage Loans (a) as to which the Monthly Payment is delinquent for 31-60 days, 61-90 days, 91 or more days, respectively, (b) in foreclosure and (c) that have become REO Property, in each case as of the aggregate end of unreimbursed related Investor Loss Reduction Amounts after giving effect to the paymentpreceding calendar month; (ix) the amount of any related Basis Risk Carryforward in the paymentMonthly Advances and Compensating Interest payments; (x) the amount of the remaining related Basis Risk Carryforward after giving effect aggregate Realized Losses with respect to the paymentrelated Payment Date and cumulative Realized Losses since the Closing Date; (xi) the Servicing Fee number and aggregate Scheduled Principal Balance of Mortgage Loans repurchased pursuant to the Mortgage Loan Purchase Agreement for the related Payment Date and cumulatively since the Closing Date; (xii) the Note Principal Balance book value (if available) of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the paymentany REO Property; (xiii) the Loan Group Balance as amount of the end of the preceding Collection Periodany Prepayment Interest Shortfalls or Relief Act Shortfalls for such Payment Date; (xiv) any Credit Enhancement Draw Amount for the related Class of Notes[reserved]; (xv) the number and aggregate Asset Balances Scheduled Principal Balance of Mortgage Loans in purchased pursuant to Section 2.04 of the Sale and Servicing Agreement for the related Loan Group as to which Payment Date and cumulatively since the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection PeriodClosing Date; (xvi) information regarding any new issuance of securities backed by the book value (within same asset pool, any pool asset changes, such as additions or removals of Mortgage Loans from the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group;Trust Estate, if applicable; and (xvii) any material changes in the amount solicitation, credit-granting, underwriting, origination, acquisition or Mortgage Loan selection criteria or procedures, as applicable, used to originate, acquire or select Mortgage Loans for the Trust Estate. The Depositor covenants that if there is a material change in the solicitation, credit-granting, underwriting, origination, acquisition or Mortgage Loan selection criteria or procedures, as applicable, used to originate, acquire or select Mortgage Loans for the Trust Estate that it will notify the Securities Administrator five calendar days before each Payment Date, and if no such notification occurs, the Securities Administrator has no obligation to report with respect to (xvii). The Depositor covenants to the Securities Administrator that there will be no new issuance of securities backed by the same asset pool, so the Securities Administrator will only be responsible in (xvi) above for reporting any optional advances pool asset changes, such as additions or removals of Mortgage Loans from the Trust Estate. Items (iii) and (iv) above shall be presented on the Mortgage Loans basis of a Note having a $1,000 denomination. In addition, by January 31 of each calendar year following any year during which the Notes are outstanding, the Securities Administrator shall furnish a report to each Noteholder of record if so requested in writing at any time during each calendar year as to the related Loan Group aggregate of amounts reported pursuant to Section 4.03 (iii) and (iv) with respect to the Notes for such calendar year. The Securities Administrator may conclusively rely upon the information provided by the Master Servicer included to the Securities Administrator in its preparation of monthly statements to Noteholders. The Securities Administrator will make the payment on monthly statements provided for in this section (and, at its option, any additional files containing the Payment Date same information in an alternative format) available each month to Noteholders, each Noteholder and each Certificateholder, the Depositor, the Issuing Entity, the Seller, the Owner Trustee, the Certificate Paying Agent and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture TrusteeSecurities Administrator's internet website. The address of the Indenture Trustee's internet Securities Administrator’s website where the Monthly Statement will shall initially be accessible is https://www.jpmorgan.com/sfr. Assilocated at “▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ .▇▇▇▇▇▇▇.▇e Trustee's internet ▇▇.” Assistance in using the website may can be obtained by calling the Indenture Trustee's Securities Administrator’s customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇) ▇▇▇-▇▇▇▇▇ ▇▇▇▇fy each Noteholder, . Parties that are unable to use the Master Servicer, website are entitled to have a paper copy mailed to them via first class mail by calling the Credit EnhancerSecurities Administrator’s customer service desk and indicating such. The Securities Administrator may have the right to change the way the monthly 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 Securities Administrator shall be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the monthly statement, and each Rating Agency may affix thereto any disclaimer it deems appropriate in writing its reasonable discretion (without suggesting liability on the part of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by lawparty hereto).

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Groupinformation: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of NotesAmount; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Groupforeclosure; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the number and Cut-off off- Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfrhttps://www.abs.bankone.com. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e re Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877800) 722524-10959472. The Indenture TrusTru▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy ify each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with (a) Not later than each payment to Noteholders, Payment Date the Master Servicer Securities Administrator shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement"“Remittance Report”) for each Payment Date with containing the following information set forth below with respect to each Loan Groupsuch Payment Date, which information shall be based solely upon the loan level information furnished by the Servicer and the Master Servicer, as applicable, upon which the Securities Administrator shall conclusively rely without independent verification thereof: (i) the related Investor Floating Allocation Percentage Available Funds and the Note Rate for each Class for the preceding Collection Periodrelated Payment Date; (ii) the aggregate amount of the payment to be paid to the related each Class of NoteholdersNotes on such Payment Date; (iii) the amount of Note Interest in the payment related to each set forth in paragraph (ii) above in respect of interest, the amount thereof in respect of any Class of Notes Interest Carryover Shortfall, and the applicable Note Rateamount of any Class Interest Carryover Shortfall remaining and the amount thereof in respect of any Class N Interest Shortfall, and the amount of any Class N Interest Shortfall remaining; (iv) the amount of the payment set forth in paragraph (ii) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any related Unpaid Investor Interest Shortfall in the paymentremaining Class Principal Carryover Shortfall; (v) the amount of the remaining related Unpaid Investor Excess Interest Shortfall after giving effect to the paymentpaid as principal; (vi) the aggregate amount of principal in the payment, separately stating its componentsServicing Fee and the Master Servicing Fee for such Payment Date; (vii) the amount Pool Balance and the aggregate Principal Balance of the reimbursement Mortgage Loans in each Loan Group as of previous related Investor Loss Amounts in the paymentclose of business on the last day of the preceding Due Period; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Class Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related each Class of Notes after giving effect to the paymentpayments allocated to principal; (xiiiix) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Overcollateralization Amount for the related Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding Required Overcollateralization Amount as of the close of business on the Payment Date, after giving effect to payments of principal on such Payment Date; (xviiix) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the calculation thereof; (xi) the Note Rate for aggregate amount of Principal Prepayments received during the related Class Prepayment Period; (xii) the amount of Notes all Curtailments that were received during the Due Period; (xiii) the principal portion of all Monthly Payments received during the Due Period; (xiv) the interest portion of all Monthly Payments received on the Mortgage Loans during the Due Period; (xv) the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date; (xvi) the amount to be distributed to the Certificates for the Payment Date; (xvii) the weighted average remaining term to maturity of the Mortgage Loans and the weighted average Loan Rate as of the first day of the related Due Period; (xviii) the amount of all payments or reimbursements to the Servicer pursuant to Sections 3.03(ii) and (vi) of the Servicing Agreement (as reported by the Servicer); (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to outstanding at the Transferor pursuant to each beginning and at the end of Section 2.04 and Section 2.06the related Due Period; (xx) the amount of Subordinated Transferor Collections for Liquidation Loan Losses experienced during the Mortgage Loans in that Loan Group included in preceding Due Period and the paymentCumulative Net Losses as a percentage of the Cut-Off Date Pool Balance; (xxi) as of the amount end of Overcollateralization Stepthe preceding calendar month, the number and Principal Balance of Mortgage Loans which are 30-Down Amount 59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth) (for that Loan Group included the avoidance of doubt, delinquencies in this clause (xxi) are measured in accordance with the paymentOTS method); (xxii) the Available Transferor Subordinated Amount amounts of Applied Realized Loss Amounts for that Loan Group the applicable Due Period and the cumulative amount of Applied Realized Loss Amounts to date; (xxiii) the number and aggregate Principal Balance of Mortgage Loans, other than Mortgage Loans in default or imminent default, that were modified by the Servicer during the related Due Period (as reported by the Servicer) (xxiv) the amount of Basis Risk Shortfall Amount paid to each Class of Group I Notes; (xxv) the amount of any Net Swap Payments or Swap Termination Payments; (xxvi) whether a Stepdown Date or Trigger Event is in effect on such Payment Date; and (xxiiixxvii) the applicable Record Dates, Interest Accrual Periods and determination dates for the first calculating payments for such Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered . (b) The Securities Administrator shall make available such report to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the NoteholdersServicer, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each NoteholderSeller, the Master ServicerNoteholders, the Credit EnhancerRating Agencies, Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: ▇▇▇▇ ▇▇▇▇▇▇) and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. AssiIntex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's ) on the Payment Date. The Securities Administrator may fully rely upon and shall have no liability with respect to information provided by the Servicer or the Master Servicer. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (vi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date. (c) The Securities Administrator will make the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Noteholders and the parties to this Indenture via the Securities Administrator’s internet website. The Securities Administrator’s internet website may shall initially be located at “▇▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Indenture Trustee's Securities Administrator’s customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇) ▇▇▇-▇▇▇▇▇ ▇▇▇▇fy each Noteholder. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way Remittance Reports 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. As a condition to access the Securities Administrator’s internet website, the Master Servicer, Securities Administrator may require registration and the Credit Enhancer, and each Rating Agency acceptance of a disclaimer. The Securities Administrator will not be liable for the dissemination of information in writing accordance with this Agreement. The Securities Administrator shall also be entitled to rely on but shall not be responsible for the content or accuracy of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by third parties for purposes of preparing the Master Servicer or a Paying Agent pursuant to Remittance Report and may affix thereto any requirements disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by lawparty hereto).

Statements to Noteholders. Concurrently with (a) With respect to each payment to NoteholdersPayment Date, the Master Servicer Securities Administrator shall deliver make available to each Noteholder and each Certificateholder, the Depositor, the Owner Trustee, the Indenture Trustee Trustee, the data necessary to prepare Certificate Paying Agent and each Rating Agency, a statement (the "Monthly Statement") for each Payment Date with setting forth the following information with respect as to each Loan Groupthe Notes, to the extent applicable: (i) the related Investor Floating Allocation Percentage for the preceding Collection PeriodNote Principal Balance of each Class of Notes immediately prior to such Payment Date; (ii) the aggregate amount Available Funds and Net Monthly Excess Cashflow payable to be paid to the related each Class of NoteholdersNoteholders for such Payment Date, and the Basis Risk Shortfall Carry-Forward Amount on each Class of Notes for such Payment Date; (iii) the amount of Note Interest in the payment related such distribution to each Class of Notes and applied to reduce the applicable Note RatePrincipal Balance thereof; (iv) the amount of any such distribution to Holders of each Class of Notes allocable to interest and the aggregate amount of Accrued Note Interest with respect to each Class during the related Unpaid Investor Interest Shortfall in the paymentAccrual Period; (v) the amount Note Rates for each Class of the remaining related Unpaid Investor Interest Shortfall after giving effect Notes with respect to the paymentsuch Payment Date; (vi) the amount Note Principal Balance of principal in the payment, separately stating its componentseach Class of Notes immediately after such Payment Date; (vii) the amount of for distribution to the reimbursement of previous related Investor Loss Amounts in the paymentCertificates; (viii) the amount number and the aggregate Scheduled Principal Balance of the aggregate Mortgage Loans as of unreimbursed the end of the related Investor Loss Reduction Amounts after giving effect to the paymentDue Period; (ix) the amount of any related Basis Risk Carryforward Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Excess Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date in the paymentaggregate; (x) the amount aggregate Note Principal Balance of the remaining related Basis Risk Carryforward each Class of Notes, after giving effect to the payment; (xi) the Servicing Fee for the amounts distributed on such Payment Date; (xii) , separately identifying any reduction thereof due to Realized Losses other than pursuant to an actual distribution of principal and the aggregate Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the paymentdistribution of principal on such Payment Date; (xiiixi) the information regarding any Mortgage Loan Group Balance delinquencies as of the end of the preceding Collection related Prepayment Period; (xiv) any Credit Enhancement Draw Amount for , including the related Class of Notes; (xv) the aggregate number and aggregate Asset Balances Outstanding Principal Balance of Mortgage Loans in the related Loan Group as (a) delinquent 30 to which the Minimum Monthly Payment is 59 days on a contractual basis, (b) delinquent for 30-59 days, 60-60 to 89 daysdays on a contractual basis, and (c) delinquent 90 or more daysdays on a contractual basis, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding each case as of the close of business on the last Business Day of the immediately preceding month; (xii) the Overcollateralization Increase Amount, Overcollateralization Target Amount, the Overcollateralization Release Amount and Overcollateralized Amount, if any, in each case as of the related Payment Date; (xiii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or Servicer; (xiv) the aggregate Realized Losses with respect to the related Payment Date and cumulative Realized Losses since the Closing Date; (xv) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Excess Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan; (xvi) the number and aggregate Scheduled Principal Balance of Mortgage Loans repurchased by the Seller pursuant to the Mortgage Loan Purchase Agreement for the related Payment Date and cumulatively since the Closing Date; (xvii) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period; (xviii) the Note Rate for book value (the related Class sum of Notes for (A) the Outstanding Principal Balance of the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Payment Date, such information shall be furnished promptly after it becomes available; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06Average Loss Severity Percentage; (xx) the amount number of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the paymentforeclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans; (xxi) the amount of Overcollateralization Step-Down Amount any Interest Shortfalls less any Compensating Interest paid by the Servicer or Master Servicer to cover Interest Shortfalls for that Loan Group included in the paymentsuch Payment Date; (xxii) the Available Transferor Subordinated Amount aggregate Scheduled Principal Balance of Mortgage Loans purchased by the Servicer pursuant to Section 3.21 of the Sale and Servicing Agreement for that Loan Group the related Payment Date and cumulatively since the Closing Date; (xxiii) the aggregate Scheduled Principal Balance of defaulted Mortgage Loans sold by the Servicer pursuant to Section 3.13 of the Sale and Servicing Agreement or Sections 4.03, 4.17 and 4.18 of the MortgageIT Servicing Agreement for the related Payment Date and cumulatively since the Closing Date; and (xxiiixxiv) the amount, if any, required to be paid under the Corridor Contract for the first such Payment Date. In addition, by January 31 of each calendar year following any year during which the Notes are outstanding, the number and Cut-off Date Asset Balance Securities Administrator shall furnish a report to each Noteholder of Mortgage Loans record if so requested in that Loan Group for which the Mortgage Loan File was not delivered writing at any time during each calendar year as to the Indenture Trustee within 30 days aggregate of the Closing Date. The amounts furnished reported pursuant to clauses (ii), (iii) (for Note Interest), and (iv)) with respect to the Notes for such calendar year. The Securities Administrator may conclusively rely upon the information provided by the Master Servicer pursuant to Section 3.01 of the Sale and Servicing Agreement and by the Corridor Contract Counterparty under the Corridor Contract in its preparation of monthly statements to Noteholders. In addition, (v)the Securities Administrator shall make available statements to Certificateholders on each Payment Date in accordance with Section 5.04 of the Trust Agreement. The Securities Administrator may make available each month, (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholdersinterested party, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it monthly statement to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them Noteholders via the Indenture TrusteeSecurities Administrator's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assiinitially located at “▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ .▇▇▇▇▇▇▇.▇e Trustee's internet ▇▇.” Assistance in using the website may can be obtained by calling the Indenture TrusteeSecurities Administrator's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇) ▇▇▇-▇▇▇▇▇ ▇▇▇▇fy each Noteholder, . Parties that are unable to use the Master Servicer, above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Credit EnhancerSecurities Administrator's customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and each Rating Agency in writing of the Securities Administrator shall provide timely and adequate notification to all parties regarding any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by lawchange.

Statements to Noteholders. Concurrently with (a) With respect to each payment to NoteholdersPayment Date, the Master Servicer Securities Administrator shall deliver make available to each Noteholder and each Certificateholder, the Depositor, the Owner Trustee, the Indenture Trustee Trustee, the data necessary to prepare Certificate Paying Agent and each Rating Agency, a statement (the "Monthly Statement") for each Payment Date with setting forth the following information with respect as to each Loan Groupthe Notes, to the extent applicable: (i) the related Investor Floating Allocation Percentage for the preceding Collection PeriodNote Principal Balance of each Class of Notes immediately prior to such Payment Date; (ii) the aggregate amount Available Funds and Net Monthly Excess Cashflow payable to be paid to the related each Class of NoteholdersNoteholders for such Payment Date, and the Basis Risk Shortfall Carry-Forward Amount on each Class of Notes for such Payment Date; (iii) the amount of Note Interest in the payment related such distribution to each Class of Notes and applied to reduce the applicable Note RatePrincipal Balance thereof; (iv) the amount of any such distribution to Holders of each Class of Notes allocable to interest and the aggregate amount of Accrued Note Interest with respect to each Class during the related Unpaid Investor Interest Shortfall in the paymentAccrual Period; (v) the amount Note Rates for each Class of the remaining related Unpaid Investor Interest Shortfall after giving effect Notes with respect to the paymentsuch Payment Date; (vi) the amount Note Principal Balance of principal in the payment, separately stating its componentseach Class of Notes immediately after such Payment Date; (vii) the amount of for distribution to the reimbursement of previous related Investor Loss Amounts in the paymentCertificates; (viii) the amount number and the aggregate Scheduled Principal Balance of the aggregate Mortgage Loans as of unreimbursed the end of the related Investor Loss Reduction Amounts after giving effect to the paymentDue Period; (ix) the amount of any related Basis Risk Carryforward Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Excess Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date in the paymentaggregate; (x) the amount aggregate Note Principal Balance of the remaining related Basis Risk Carryforward each Class of Notes, after giving effect to the payment; (xi) the Servicing Fee for the amounts distributed on such Payment Date; (xii) , separately identifying any reduction thereof due to Realized Losses other than pursuant to an actual distribution of principal and the aggregate Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the paymentdistribution of principal on such Payment Date; (xiiixi) the information regarding any Mortgage Loan Group Balance delinquencies as of the end of the preceding Collection related Prepayment Period; (xiv) any Credit Enhancement Draw Amount for , including the related Class of Notes; (xv) the aggregate number and aggregate Asset Balances Outstanding Principal Balance of Mortgage Loans in the related Loan Group as (a) delinquent 30 to which the Minimum Monthly Payment is 59 days on a contractual basis, (b) delinquent for 30-59 days, 60-60 to 89 daysdays on a contractual basis, and (c) delinquent 90 or more daysdays on a contractual basis, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding each case as of the close of business on the last Business Day of the immediately preceding month; (xii) the Overcollateralization Increase Amount, Overcollateralization Target Amount, the Overcollateralization Release Amount and Overcollateralized Amount, if any, in each case as of the related Payment Date; (xiii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or Servicer; (xiv) the aggregate Realized Losses with respect to the related Payment Date and cumulative Realized Losses since the Closing Date; (xv) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Excess Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan; (xvi) the number and aggregate Scheduled Principal Balance of Mortgage Loans repurchased by the Seller pursuant to the Mortgage Loan Purchase Agreement for the related Payment Date and cumulatively since the Closing Date; (xvii) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period; (xviii) the Note Rate for book value (the related Class sum of Notes for (A) the Outstanding Principal Balance of the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Payment Date, such information shall be furnished promptly after it becomes available; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06Average Loss Severity Percentage; (xx) the amount number of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the paymentforeclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans; (xxi) the amount of Overcollateralization Step-Down Amount any Interest Shortfalls less any Compensating Interest paid by the Servicer or Master Servicer to cover Interest Shortfalls for that Loan Group included in the paymentsuch Payment Date; (xxii) the Available Transferor Subordinated Amount aggregate Scheduled Principal Balance of Mortgage Loans purchased by the Servicer pursuant to Section 3.21 of the Sale and Servicing Agreement for that Loan Group the related Payment Date and cumulatively since the Closing Date; (xxiii) the aggregate Scheduled Principal Balance of defaulted Mortgage Loans sold by the Servicer pursuant to Section 3.13 of the Sale and Servicing Agreement or Sections 4.03, 4.17 and 4.18 of the MortgageIT Servicing Agreement for the related Payment Date and cumulatively since the Closing Date; and (xxiiixxiv) the amount, if any, required to be paid under either of the Yield Maintenance Agreements for the first such Payment Date. In addition, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end January 31 of each calendar yearyear following any year during which the Notes are outstanding, the Master Servicer Securities Administrator shall prepare and forward furnish a report to each Noteholder of record if so requested in writing at any time during each calendar year as to the Indenture Trustee the information in clauses aggregate of amounts reported pursuant to (iii) and (viiv) above aggregated with respect to the Notes for the such calendar year. This requirement of The Securities Administrator may conclusively rely upon the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements Section 3.01 of the CodeSale and Servicing Agreement and by the Yield Maintenance Provider under the Yield Maintenance Agreements in its preparation of monthly statements to Noteholders. The Indenture Trustee In addition, the Securities Administrator shall prepare (make available statements to Certificateholders on each Payment Date in a manner consistent accordance with the treatment Section 5.04 of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by lawTrust Agreement.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Group: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. Section 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. AssiAss▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e re Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture TrusTru▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy ify each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Group: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Groupinformation: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of NotesAmount; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Groupforeclosure; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with (a) With respect to each payment to NoteholdersPayment Date, the Master Servicer Securities Administrator shall deliver make available to each Noteholder and each Certificateholder, the Depositor, the Owner Trustee, the Indenture Trustee Trustee, the data necessary to prepare Certificate Paying Agent and each Rating Agency, a statement (the "Monthly Statement") for each Payment Date with setting forth the following information with respect as to each Loan Groupthe Notes, to the extent applicable: (i) the related Investor Floating Allocation Percentage for the preceding Collection PeriodNote Principal Balance of each Class of Notes immediately prior to such Payment Date; (ii) the aggregate amount Available Funds and Net Monthly Excess Cashflow payable to be paid to the related each Class of NoteholdersNoteholders for such Payment Date, and the Basis Risk Shortfall Carry-Forward Amount on each Class of Notes for such Payment Date; (iii) the amount of Note Interest in the payment related such distribution to each Class of Notes and applied to reduce the applicable Note RatePrincipal Balance thereof; (iv) the amount of any such distribution to Holders of each Class of Notes allocable to interest and the aggregate amount of Accrued Note Interest with respect to each Class during the related Unpaid Investor Interest Shortfall in the paymentAccrual Period; (v) the amount Note Rates for each Class of the remaining related Unpaid Investor Interest Shortfall after giving effect Notes with respect to the paymentsuch Payment Date; (vi) the amount Note Principal Balance of principal in the payment, separately stating its componentseach Class of Notes immediately after such Payment Date; (vii) the amount of for distribution to the reimbursement of previous related Investor Loss Amounts in the paymentCertificates; (viii) the amount number and the aggregate Scheduled Principal Balance of the aggregate Mortgage Loans as of unreimbursed the end of the related Investor Loss Reduction Amounts after giving effect to the paymentDue Period; (ix) the amount of any related Basis Risk Carryforward Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Excess Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date in the paymentaggregate; (x) the amount aggregate Note Principal Balance of the remaining related Basis Risk Carryforward each Class of Notes, after giving effect to the payment; (xi) the Servicing Fee for the amounts distributed on such Payment Date; (xii) , separately identifying any reduction thereof due to Realized Losses other than pursuant to an actual distribution of principal and the aggregate Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the paymentdistribution of principal on such Payment Date; (xiiixi) the information regarding any Mortgage Loan Group Balance delinquencies as of the end of the preceding Collection related Prepayment Period; (xiv) any Credit Enhancement Draw Amount for , including the related Class of Notes; (xv) the aggregate number and aggregate Asset Balances Outstanding Principal Balance of Mortgage Loans in the related Loan Group as (a) delinquent 30 to which the Minimum Monthly Payment is 59 days on a contractual basis, (b) delinquent for 30-59 days, 60-60 to 89 daysdays on a contractual basis, and (c) delinquent 90 or more daysdays on a contractual basis, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding each case as of the close of business on the last Business Day of the immediately preceding month; (xii) the Overcollateralization Increase Amount, Overcollateralization Target Amount, the Overcollateralization Release Amount and Overcollateralized Amount, if any, in each case as of the related Payment Date; (xiii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or Servicer; (xiv) the aggregate Realized Losses with respect to the related Payment Date and cumulative Realized Losses since the Closing Date; (xv) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Excess Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan; (xvi) the number and aggregate Scheduled Principal Balance of Mortgage Loans repurchased by the Seller pursuant to the Mortgage Loan Purchase Agreement for the related Payment Date and cumulatively since the Closing Date; (xvii) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period; (xviii) the Note Rate for book value (the related Class sum of Notes for (A) the Outstanding Principal Balance of the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Payment Date, such information shall be furnished promptly after it becomes available; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06Average Loss Severity Percentage; (xx) the amount number of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the paymentforeclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans; (xxi) the amount of Overcollateralization Step-Down Amount any Interest Shortfalls less any Compensating Interest paid by the Servicer or Master Servicer to cover Interest Shortfalls for that Loan Group included in the paymentsuch Payment Date; (xxii) the Available Transferor Subordinated Amount aggregate Scheduled Principal Balance of Mortgage Loans purchased by the Servicer pursuant to Section 3.21 of the Sale and Servicing Agreement for that Loan Group the related Payment Date and cumulatively since the Closing Date; (xxiii) the aggregate Scheduled Principal Balance of defaulted Mortgage Loans sold by the Servicer pursuant to Section 3.13 of the Sale and Servicing Agreement or Sections 4.03, 4.17 and 4.18 of the MortgageIT Servicing Agreement for the related Payment Date and cumulatively since the Closing Date; and (xxiiixxiv) the amount, if any, required to be paid under the Corridor Contract for the first such Payment Date. In addition, by January 31 of each calendar year following any year during which the Notes are outstanding, the number and Cut-off Date Asset Balance Securities Administrator shall furnish a report to each Noteholder of Mortgage Loans record if so requested in that Loan Group for which the Mortgage Loan File was not delivered writing at any time during each calendar year as to the Indenture Trustee within 30 days aggregate of the Closing Date. The amounts furnished reported pursuant to clauses (ii), (iii) (for Note Interest), and (iv)) with respect to the Notes for such calendar year. The Securities Administrator may conclusively rely upon the information provided by the Master Servicer pursuant to Section 3.01 of the Sale and Servicing Agreement and by the Corridor Contract Counterparty under the related Corridor Contract in its preparation of monthly statements to Noteholders. In addition, (v)the Securities Administrator shall make available statements to Certificateholders on each Payment Date in accordance with Section 5.04 of the Trust Agreement. The Securities Administrator may make available each month, (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholdersinterested party, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it monthly statement to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them Noteholders via the Indenture TrusteeSecurities Administrator's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assiinitially located at “▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ .▇▇▇▇▇▇▇.▇e Trustee's internet ▇▇.” Assistance in using the website may can be obtained by calling the Indenture TrusteeSecurities Administrator's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇) ▇▇▇-▇▇▇▇▇ ▇▇▇▇fy each Noteholder, . Parties that are unable to use the Master Servicer, above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Credit EnhancerSecurities Administrator's customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and each Rating Agency in writing of the Securities Administrator shall provide timely and adequate notification to all parties regarding any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by lawchange.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Group: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class Classes of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the paymentpayment and the amount of Rate Cap Shortfalls for the Class 2-A-2A Notes; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance or Notional Balance of the related Class Classes of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Principal Amount Notes after giving effect to the paymentpayment and the allocation of Applied Realized Loss Amounts for that Payment Date; (xiii) the each Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Principal Amount Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.pursuant

Statements to Noteholders. Concurrently with (a) With respect to each payment to NoteholdersPayment Date, the Master Servicer Securities Administrator shall deliver make available to each Noteholder and each Certificateholder, the Swap Provider, the Depositor, the Owner Trustee, the Indenture Trustee Trustee, the data necessary to prepare Certificate Paying Agent and each Rating Agency, a statement (the "Monthly Statement") for each Payment Date with setting forth the following information with respect as to each Loan Groupthe Notes, to the extent applicable: (i) the related Investor Floating Allocation Percentage for the preceding Collection PeriodNote Principal Balance of each Class of Notes immediately prior to such Payment Date; (ii) the aggregate amount Interest Funds, Principal Funds and Net Monthly Excess Cashflow payable to be paid to the related each Class of NoteholdersNoteholders for such Payment Date, and the Basis Risk Shortfall Carry-Forward Amount on each Class of Notes for such Payment Date; (iii) the amount of Note Interest in the payment related such distribution to each Class of Notes and applied to reduce the applicable Note RatePrincipal Balance thereof; (iv) the amount of any such distribution to Holders of each Class of Notes allocable to interest and the aggregate amount of Accrued Note Interest with respect to each Class during the related Unpaid Investor Interest Shortfall in the paymentAccrual Period; (v) the amount Note Rates for each Class of the remaining related Unpaid Investor Interest Shortfall after giving effect Notes with respect to the paymentsuch Payment Date; (vi) the amount Note Principal Balance of principal in the payment, separately stating its componentseach Class of Notes immediately after such Payment Date; (vii) the amount of for distribution to the reimbursement of previous related Investor Loss Amounts in the paymentCertificates; (viii) the amount number and the aggregate Stated Principal Balance of the aggregate Mortgage Loans as of unreimbursed the end of the related Investor Loss Reduction Amounts after giving effect to the paymentDue Period; (ix) the amount of any related Basis Risk Carryforward Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Excess Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date in the paymentaggregate; (x) the amount aggregate Note Principal Balance of the remaining related Basis Risk Carryforward each Class of Notes, after giving effect to the payment; (xi) the Servicing Fee for the amounts distributed on such Payment Date; (xii) , separately identifying any reduction thereof due to Realized Losses other than pursuant to an actual distribution of principal and the aggregate Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the paymentdistribution of principal on such Payment Date; (xiiixi) the information regarding any Mortgage Loan Group Balance delinquencies as of the end of the preceding Collection related Prepayment Period; (xiv) any Credit Enhancement Draw Amount for , including the related Class of Notes; (xv) the aggregate number and aggregate Asset Balances Outstanding Principal Balance of Mortgage Loans in the related Loan Group as (A) delinquent 30 to which the Minimum Monthly Payment is 59 days on a contractual basis, (B) delinquent for 30-59 days, 60-60 to 89 daysdays on a contractual basis, and (C) delinquent 90 or more daysdays on a contractual basis, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding each case as of the close of business on the last Business Day of the immediately preceding month; (xii) the Overcollateralization Increase Amount, Overcollateralization Target Amount, the Overcollateralization Release Amount and Overcollateralized Amount, if any, in each case as of the related Payment Date; (xiii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or Servicer; (xiv) the aggregate Realized Losses with respect to the related Payment Date and cumulative Realized Losses since the Closing Date; (xv) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (A) the loan number, (B) the Stated Principal Balance of such Mortgage Loan as of the Cut-off Date, (C) the Stated Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (D) the Excess Liquidation Proceeds with respect to such Mortgage Loan and (E) the amount of the Realized Loss with respect to such Mortgage Loan; (xvi) the number and aggregate Stated Principal Balance of Mortgage Loans repurchased by the Seller pursuant to the Mortgage Loan Purchase Agreement for the related Payment Date and cumulatively since the Closing Date; (xvii) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period; (xviii) the Note Rate for book value (the related Class sum of Notes for (A) the Outstanding Principal Balance of the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Payment Date, such information shall be furnished promptly after it becomes available; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06Average Loss Severity Percentage; (xx) the amount number of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the paymentforeclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans; (xxi) the amount of Overcollateralization Step-Down Amount any Prepayment Interest Shortfalls less any Compensating Interest paid by the Subservicer, the Servicer or Master Servicer to cover Prepayment Interest Shortfalls for that Loan Group included in the paymentsuch Payment Date; (xxii) the Available Transferor Subordinated Amount aggregate Stated Principal Balance of Mortgage Loans purchased by the Servicer or the Subservicer pursuant to Section 3.21 of the Sale and Servicing Agreement for the related Payment Date and cumulatively since the Closing Date; (xxiii) the aggregate Stated Principal Balance of defaulted Mortgage Loans sold by the Servicer or the Subservicer pursuant to Section 3.13 of the Sale and Servicing Agreement or Sections 4.03, 4.17 and 4.18 of the Servicing Agreement for the related Payment Date and cumulatively since the Closing Date; provided that, in the event that Loan Group and such information is not available to the Securities Administrator on the Payment Date, such information shall be furnished promptly after it becomes available; and (xxiiixxiv) the amount, if any, required to be paid under the Swap Agreement for the first such Payment Date. In addition, by January 31st of each calendar year following any year during which the Notes are outstanding, the number and Cut-off Date Asset Balance Securities Administrator shall furnish a report to each Noteholder of Mortgage Loans record if so requested in that Loan Group for which the Mortgage Loan File was not delivered writing at any time during each calendar year, as to the Indenture Trustee within 30 days aggregate of the Closing Date. The amounts furnished reported pursuant to clauses (ii), (iii) (for Note Interest), and (iv), (v), (vi), (vii), and (viii) above with respect to the Notes for such calendar year. The Securities Administrator may conclusively rely upon the information provided by the Master Servicer pursuant to Section 3.01 of the Sale and Servicing Agreement and by the Swap Provider under the Swap Agreement in its preparation of monthly statements to Noteholders. In addition, the Securities Administrator shall be expressed as a dollar amount per $1,000 increment make available statements to Certificateholders on each Payment Date in accordance with Section 5.04 of Notesthe Trust Agreement. If the Monthly Statement is not accessible The Securities Administrator may make available each month, to any of the Noteholdersinterested party, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it monthly statement to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them Noteholders via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet Securities Administrator’s website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assiinitially located at “▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ .▇▇▇▇▇▇▇.▇e Trustee's internet ▇▇.” Assistance in using the website may can be obtained by calling the Indenture Trustee's Securities Administrator’s customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇) ▇▇▇-▇▇▇▇▇ ▇▇▇▇fy each Noteholder, . Parties that are unable to use the Master Servicer, above distribution option are entitled to have a paper copy mailed to them via first-class mail by calling the Credit EnhancerSecurities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and each Rating Agency in writing of the Securities Administrator shall provide timely and adequate notification to all parties regarding any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by lawchange.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Group: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. AssiAssistance in using the Indenture Tru▇▇▇▇'▇ ▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇ ▇▇e Trustee's internet website may ▇ be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture TrusTrustee shall notify each Noteholder, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicerrvicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Groupinformation: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of NotesAmount; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Groupforeclosure; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the number and Cut-off off- Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. AssiAssistance in using the Indenture ▇▇▇▇▇▇ ▇▇'▇ ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇e Trustee's internet website may ay be obtained by calling the Indenture Trustee's customer service desk at (877800) 722524-10959472. The Indenture TrusTrustee shall notify each Notehold▇▇, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Group: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ://▇▇▇▇▇ ▇▇▇ .▇▇▇▇▇▇▇▇e .▇▇▇/sfr. Assistance in using the Indenture Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇) ▇▇▇-▇▇▇▇▇ ▇▇▇▇fy . The Indenture Trustee shall notify each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with (a) With respect to each payment to NoteholdersPayment Date, the Master Servicer Securities Administrator shall deliver make available to each Noteholder and each Certificateholder, the Swap Provider, the Depositor, the Owner Trustee, the Indenture Trustee Trustee, the data necessary to prepare Certificate Paying Agent and each Rating Agency, a statement (the "Monthly Statement") for each Payment Date with setting forth the following information with respect as to each Loan Groupthe Notes, to the extent applicable: (i) the related Investor Floating Allocation Percentage for the preceding Collection PeriodNote Principal Balance of each Class of Notes immediately prior to such Payment Date; (ii) the aggregate amount Interest Funds, Principal Funds and Net Monthly Excess Cashflow payable to be paid to the related each Class of NoteholdersNoteholders for such Payment Date, and the Basis Risk Shortfall Carry-Forward Amount on each Class of Notes for such Payment Date; (iii) the amount of Note Interest in the payment related such distribution to each Class of Notes and applied to reduce the applicable Note RatePrincipal Balance thereof; (iv) the amount of any such distribution to Holders of each Class of Notes allocable to interest and the aggregate amount of Accrued Note Interest with respect to each Class during the related Unpaid Investor Interest Shortfall in the paymentAccrual Period; (v) the amount Note Rates for each Class of the remaining related Unpaid Investor Interest Shortfall after giving effect Notes with respect to the paymentsuch Payment Date; (vi) the amount Note Principal Balance of principal in the payment, separately stating its componentseach Class of Notes immediately after such Payment Date; (vii) the amount of for distribution to the reimbursement of previous related Investor Loss Amounts in the paymentCertificates; (viii) the amount number and the aggregate Stated Principal Balance of the aggregate Mortgage Loans as of unreimbursed the end of the related Investor Loss Reduction Amounts after giving effect to the paymentDue Period; (ix) the amount of any related Basis Risk Carryforward Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Excess Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date in the paymentaggregate; (x) the amount aggregate Note Principal Balance of the remaining related Basis Risk Carryforward each Class of Notes, after giving effect to the payment; (xi) the Servicing Fee for the amounts distributed on such Payment Date; (xii) , separately identifying any reduction thereof due to Realized Losses other than pursuant to an actual distribution of principal and the aggregate Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the paymentdistribution of principal on such Payment Date; (xiiixi) the information regarding any Mortgage Loan Group Balance delinquencies as of the end of the preceding Collection related Prepayment Period; (xiv) any Credit Enhancement Draw Amount for , including the related Class of Notes; (xv) the aggregate number and aggregate Asset Balances Outstanding Principal Balance of Mortgage Loans in the related Loan Group as (A) delinquent 30 to which the Minimum Monthly Payment is 59 days on a contractual basis, (B) delinquent for 30-59 days, 60-60 to 89 daysdays on a contractual basis, and (C) delinquent 90 or more daysdays on a contractual basis, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding each case as of the close of business on the last Business Day of the immediately preceding month; (xii) the amount of payments from the Corridor Contract for such Payment Date; (xiii) the Overcollateralization Increase Amount, Overcollateralization Target Amount, the Overcollateralization Release Amount and Overcollateralized Amount, if any, in each case as of the related Payment Date; (xiv) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or Servicer; (xv) the aggregate Realized Losses with respect to the related Payment Date and cumulative Realized Losses since the Closing Date; (xvi) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (A) the loan number, (B) the Stated Principal Balance of such Mortgage Loan as of the Cut-off Date, (C) the Stated Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (D) the Excess Liquidation Proceeds with respect to such Mortgage Loan and (E) the amount of the Realized Loss with respect to such Mortgage Loan; (xvii) the number and aggregate Stated Principal Balance of Mortgage Loans repurchased by the Seller pursuant to the Mortgage Loan Purchase Agreement for the related Payment Date and cumulatively since the Closing Date; (xviii) the Note Rate for number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Class of Notes for the Payment DateDue Period; (xix) the number book value (the sum of (A) the Outstanding Principal Balance of the Mortgage Loan, (B) accrued interest through the date of foreclosure and principal balances (C) foreclosure expenses) of any Mortgage Loans REO Property; provided that, in the event that Loan Group retransferred such information is not available to the Transferor pursuant to each of Section 2.04 and Section 2.06Securities Administrator on the Payment Date, such information shall be furnished promptly after it becomes available; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the paymentAverage Loss Severity Percentage; (xxi) the amount number of Overcollateralization Step-Down Amount for that Loan Group included Mortgage Loans in the paymentforeclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans; (xxii) the Available Transferor Subordinated Amount amount of any Prepayment Interest Shortfalls less any Compensating Interest paid by the Subservicer, the Servicer or Master Servicer to cover Prepayment Interest Shortfalls for such Payment Date; (xxiii) the aggregate Stated Principal Balance of Mortgage Loans purchased by the Servicer or the Subservicer pursuant to Section 3.21 of the Sale and Servicing Agreement for the related Payment Date and cumulatively since the Closing Date; (xxiv) the aggregate Stated Principal Balance of defaulted Mortgage Loans sold by the Servicer or the Subservicer pursuant to Section 3.13 of the Sale and Servicing Agreement or Sections 4.03, 4.17 and 4.18 of the Servicing Agreement for the related Payment Date and cumulatively since the Closing Date; provided that, in the event that Loan Group and such information is not available to the Securities Administrator on the Payment Date, such information shall be furnished promptly after it becomes available; and (xxiiixxv) the amount, if any, required to be paid under the Swap Agreement for the first such Payment Date. In addition, by January 31st of each calendar year following any year during which the Notes are outstanding, the number and Cut-off Date Asset Balance Securities Administrator shall furnish a report to each Noteholder of Mortgage Loans record if so requested in that Loan Group for which the Mortgage Loan File was not delivered writing at any time during each calendar year, as to the Indenture Trustee within 30 days aggregate of the Closing Date. The amounts furnished reported pursuant to clauses (ii), (iii) (for Note Interest), and (iv), (v), (vi), (vii), and (viii) above with respect to the Notes for such calendar year. The Securities Administrator may conclusively rely upon the information provided by the Master Servicer pursuant to Section 3.01 of the Sale and Servicing Agreement and by the Swap Provider under the Swap Agreement in its preparation of monthly statements to Noteholders. In addition, the Securities Administrator shall be expressed as a dollar amount per $1,000 increment make available statements to Certificateholders on each Payment Date in accordance with Section 5.04 of Notesthe Trust Agreement. If the Monthly Statement is not accessible The Securities Administrator may make available each month, to any of the Noteholdersinterested party, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it monthly statement to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them Noteholders via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet Securities Administrator’s website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assiinitially located at “▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ .▇▇▇▇▇▇▇.▇e Trustee's internet ▇▇.” Assistance in using the website may can be obtained by calling the Indenture Trustee's Securities Administrator’s customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇) ▇▇▇-▇▇▇▇▇ ▇▇▇▇fy each Noteholder, . Parties that are unable to use the Master Servicer, above distribution option are entitled to have a paper copy mailed to them via first-class mail by calling the Credit EnhancerSecurities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and each Rating Agency in writing of the Securities Administrator shall provide timely and adequate notification to all parties regarding any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by lawchange.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Groupinformation: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of NotesAmount; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. Section 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Groupforeclosure; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Datepayment; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment payment Date; and (xxiii) for the first Payment Date, the number and Cut-off off- Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date or Subsequent Closing Date, as applicable. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfrhttps://www.abs.bankone.com. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e re Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877800) 722524-10959472. The Indenture TrusTru▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy ify each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with With respect to each payment to NoteholdersPayment Date, the Master Servicer Securities Administrator shall deliver make available via the Securities Administrator’s website, initially located at ▇▇▇.▇▇▇▇▇▇▇.▇▇▇, to each Noteholder and each Certificateholder, the Indenture Trustee Depositor, the data necessary to prepare Issuer, the Seller, the Owner Trustee, the Certificate Paying Agent and the Rating Agencies, a statement (the "Monthly Statement") for each Payment Date with setting forth the following information with respect as to each Loan Groupthe Notes, to the extent applicable: (i) the related Investor Floating Allocation Percentage Available Funds, the Basis Risk Shortfall Carryover Amount on each Class of Class A Notes for such Payment Date and the preceding Collection Periodaggregate Net Interest Shortfall on each Class of Notes for such Payment Date; (ii) (a) the amount of such payment to each Class of Notes (other than the Class X Notes) applied to reduce the Note Principal Balance thereof, and (b) the aggregate amount to be paid to the related Class of Noteholdersincluded therein representing Principal Prepayments; (iii) the amount of Note Interest in the such payment related to Holders of each Class of Notes and the applicable Note Rateallocable to interest; (iv) the amount of any related Unpaid Investor Interest Shortfall in distribution to the paymentCertificates; (v) if the payment to the Holders of any Class of Notes is less than the full amount that would be payable to such Holders if there were sufficient funds available therefor, the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the paymentshortfall; (vi) the amount number and the aggregate Scheduled Principal Balance of principal in the payment, separately stating its componentsMortgage Loans as of the end of the related Due Period; (vii) the amount aggregate Note Principal Balance of each Class of Notes, after giving effect to the amounts paid on such Payment Date, separately identifying any reduction thereof due to Realized Losses and the aggregate Note Principal Balance of the reimbursement Notes after giving effect to the payment of previous related Investor Loss Amounts in the paymentprincipal on such Payment Date; (viii) the amount number and aggregate Scheduled Principal Balance of Mortgage Loans (a) as to which the Monthly Payment is delinquent for 31-60 days, 61-90 days, 91 or more days, respectively, (b) in foreclosure and (c) that have become REO Property, in each case as of the aggregate end of unreimbursed related Investor Loss Reduction Amounts after giving effect to the paymentpreceding calendar month; (ix) the amount of any related Basis Risk Carryforward in the paymentMonthly Advances and Compensating Interest payments; (x) the amount of the remaining related Basis Risk Carryforward after giving effect aggregate Realized Losses with respect to the paymentrelated Payment Date and cumulative Realized Losses since the Closing Date; (xi) the Servicing Fee number and aggregate Scheduled Principal Balance of Mortgage Loans repurchased pursuant to the Mortgage Loan Purchase Agreement for the related Payment Date and cumulatively since the Closing Date; (xii) the Note Principal Balance book value (if available) of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the paymentany REO Property; (xiii) the Loan Group Balance as amount of the end of the preceding Collection Periodany Prepayment Interest Shortfalls or Relief Act Shortfalls for such Payment Date; (xiv) any Credit Enhancement Draw Amount the aggregate Scheduled Principal Balance of Mortgage Loans purchased pursuant to Section 2.12 of the Servicing Agreement for the related Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and cumulatively since the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Closing Date; and (xxiiixv) for information received from the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Master Servicer with respect to any Mortgage Loan File was not delivered to the Indenture Trustee within 30 that is delinquent in payment for 90 days of the Closing Dateor more. The amounts furnished pursuant to clauses (ii), Items (iii) (for Note Interest), and (iv), (v), (vi), (vii), and (viii) above shall be expressed as presented on the basis of a dollar amount per Note having a $1,000 increment denomination. In addition, by January 31 of Noteseach calendar year following any year during which the Notes are outstanding, the Securities Administrator shall furnish a report to each Noteholder of record if so requested in writing at any time during each calendar year as to the aggregate of amounts reported pursuant to (iii) and (iv) with respect to the Notes for such calendar year. If The Securities Administrator may conclusively rely upon the Monthly Statement is not accessible information provided by the Master Servicer to any the Securities Administrator in accordance with Section 2.02 of the Servicing Agreement in its preparation of monthly statements to Noteholders. The Securities Administrator shall be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the monthly statement, and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto). The Securities Administrator shall make the monthly statements provided for in this section (and, at its option, any additional files containing the same information in an alternative format) available each month to each Noteholder and each Certificateholder, the Master ServicerDepositor, the Credit EnhancerIssuer, or either the Seller, the Owner Trustee, the Certificate Paying Agent and the Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet Securities Administrator’s website. The address of Assistance in using the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's internet website may can be obtained by calling the Indenture Trustee's Note Registrar’s customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇) ▇▇▇-▇▇▇▇▇ ▇▇▇▇fy each Noteholder, . Parties that are unable to use the Master Servicer, website are entitled to have a paper copy mailed to them via first class mail by calling the Credit Enhancer, Securities Administrator’s customer service desk and each Rating Agency indicating such. The Securities Administrator may have the right to change the way the monthly statements are distributed in writing of any change in the address or means of access order to make such distribution more convenient and/or more accessible to the internet website where above parties and the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer Securities Administrator shall prepare provide timely and forward adequate notification to the Indenture Trustee the information in clauses (iii) and (vi) all above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to parties regarding any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by lawchanges.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Groupinformation: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of NotesAmount; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ssC.F.R.ss. 571.13 or comparable provisioncomparab▇▇ ▇▇▇▇▇sion) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Groupforeclosure; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the number and Cut-off off- Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date or Subsequent Closing Date, as applicable. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfrhttps://www.abs.bankone.com. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e re Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877800) 722524-10959472. The Indenture TrusTru▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy ify each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Group: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the aggregate principal balances of the Mortgage Loans in each Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with (a) Not later than each payment to Noteholders, Payment Date the Master Servicer Securities Administrator shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement"“Remittance Report”) for each Payment Date with containing the following information set forth below with respect to each Loan Groupsuch Payment Date, which information shall be based solely upon the loan level information furnished by the Servicer and the Master Servicer, as applicable, upon which the Securities Administrator shall conclusively rely without independent verification thereof: (i) the related Investor Floating Allocation Percentage Available Funds and the Note Rate for each Class for the preceding Collection Periodrelated Payment Date; (ii) the aggregate amount of the payment to be paid to the related each Class of NoteholdersNotes on such Payment Date; (iii) the amount of Note Interest in the payment related to each set forth in paragraph (ii) above in respect of interest, the amount thereof in respect of any Class of Notes Interest Carryover Shortfall, and the applicable Note Rateamount of any Class Interest Carryover Shortfall remaining and the amount thereof in respect of any Class N Interest Shortfall, and the amount of any Class N Interest Shortfall remaining; (iv) the amount of the payment set forth in paragraph (ii) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any related Unpaid Investor Interest Shortfall in the paymentremaining Class Principal Carryover Shortfall; (v) the amount of the remaining related Unpaid Investor Excess Interest Shortfall after giving effect to the paymentpaid as principal; (vi) the aggregate amount of principal in the payment, separately stating its componentsServicing Fee and the Master Servicing Fee for such Payment Date; (vii) the amount Pool Balance and the aggregate Principal Balance of the reimbursement Mortgage Loans as of previous related Investor Loss Amounts in the paymentclose of business on the last day of the preceding Due Period; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Class Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related each Class of Notes after giving effect to the paymentpayments allocated to principal; (xiiiix) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Overcollateralization Amount for the related Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding Required Overcollateralization Amount as of the close of business on the Payment Date, after giving effect to payments of principal on such Payment Date; (xviiix) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the calculation thereof; (xi) the Note Rate for aggregate amount of Principal Prepayments received during the related Class Prepayment Period; (xii) the amount of Notes all Curtailments that were received during the Due Period; (xiii) the principal portion of all Monthly Payments received during the Due Period; (xiv) the interest portion of all Monthly Payments received on the Mortgage Loans during the Due Period; (xv) the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date; (xvi) the amount to be distributed to the Certificates for the Payment Date; (xvii) the weighted average remaining term to maturity of the Mortgage Loans and the weighted average Loan Rate as of the first day of the related Due Period; (xviii) the amount of all payments or reimbursements to the Servicer pursuant to Sections 3.03(ii) and (vi) of the Servicing Agreement (as reported by the Servicer); (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to outstanding at the Transferor pursuant to each beginning and at the end of Section 2.04 and Section 2.06the related Due Period; (xx) the amount of Subordinated Transferor Collections for Liquidation Loan Losses experienced during the Mortgage Loans in that Loan Group included in preceding Due Period and the paymentCumulative Net Losses as a percentage of the Cut-Off Date Pool Balance; (xxi) as of the amount end of Overcollateralization Stepthe preceding calendar month, the number and Principal Balance of Mortgage Loans which are 30-Down Amount 59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth) (for that Loan Group included the avoidance of doubt, delinquencies in this clause (xxi) are measured in accordance with the paymentOTS method); (xxii) the Available Transferor Subordinated Amount amounts of Applied Realized Loss Amounts for that Loan Group the applicable Due Period and the Payment Datecumulative amount of Applied Realized Loss Amounts to date; (xxiii) the number and aggregate Principal Balance of Mortgage Loans, other than Mortgage Loans in default or imminent default, that were modified by the Servicer during the related Due Period (as reported by the Servicer); and (xxiiixxiv) for the first Payment Date, the number and Cut-off Date Asset Balance amount of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered Basis Risk Shortfall Amount paid to the Indenture Trustee within 30 days of Class A-1A Notes, stating separately any amounts received from the Closing Date. The amounts furnished pursuant Cap Provider with respect to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii)the Class A-1A Interest Rate Cap Agreement and the Class N Interest Rate Cap Agreement, and the amount of Basis Risk Shortfall Amount remaining for each such Class. (viiib) above The Securities Administrator shall be expressed as a dollar amount per $1,000 increment of Notes. If make available such report to the Monthly Statement is not accessible to any of the NoteholdersServicer, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each NoteholderSeller, the Master ServicerNoteholders, the Credit EnhancerRating Agencies, Bloomberg (at 4▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: M▇▇▇ ▇▇▇▇▇▇) and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. AssiIntex Solutions (at 3▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇, Attention: H▇▇▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's ) on the Payment Date. The Securities Administrator may fully rely upon and shall have no liability with respect to information provided by the Servicer or the Master Servicer. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (vi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date. (c) The Securities Administrator will make the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Noteholders and the parties to this Indenture via the Securities Administrator’s internet website. The Securities Administrator’s internet website may shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Indenture Trustee's Securities Administrator’s customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇) ▇▇▇-▇▇▇▇▇ ▇▇▇▇fy each Noteholder. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way Remittance Reports 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. As a condition to access the Securities Administrator’s internet website, the Master Servicer, Securities Administrator may require registration and the Credit Enhancer, and each Rating Agency acceptance of a disclaimer. The Securities Administrator will not be liable for the dissemination of information in writing accordance with this Agreement. The Securities Administrator shall also be entitled to rely on but shall not be responsible for the content or accuracy of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by third parties for purposes of preparing the Master Servicer or a Paying Agent pursuant to Remittance Report and may affix thereto any requirements disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by lawparty hereto).

Statements to Noteholders. Concurrently with On each payment to NoteholdersDetermination Date preceding a Distribution Date, the Master Servicer Administrator shall deliver provide to the Indenture Trustee and the data necessary Paying Agent (with a copy to prepare the Eligible Lender Trustee, the Certificate Paying Agent, the Depositor and the Rating Agencies) for the Paying Agent to forward on such succeeding Distribution Date to each Holder of record of the Notes a statement (substantially in the "Monthly Statement") for each Payment Date with form of Exhibit A, setting forth at least the following information with respect as to each Loan Groupthe Notes, to the extent applicable: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v1) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect distribution allocable to the payment; (vi) the amount principal of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related each Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii2) the amount of the distribution allocable to interest on each Class of Notes, together with the interest rates applicable with respect thereto; (3) whether any optional advances Subordinate Note Principal Trigger or Class I-B, Class II-B, Class II-C or Class II-D Note Interest Trigger will be in effect on the Mortgage Loans in such Distribution Date after giving effect to the related Loan payments allocated to principal reported under clause (1) above; (4) the Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date I and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding II Pool Balance as of the close of business on the Payment last day of the preceding Collection Period, after giving effect to the related payments allocated to principal reported under clause (1) above; (5) the aggregate outstanding principal balance of each Class of Notes, and each Pool Factor as of such Distribution Date, after giving effect to related payments allocated to principal reported under clause (1) above; (A) the amount of the Master Servicing Fee paid to the Master Servicer and (B) the amount of the Administration Fee paid to the Administrator, in each case as allocated to the Group I Notes and the Group II Notes and, in each case, with respect to such Collection Period, together with the amount, if any, of the Master Servicing Fee or Administration Fee remaining unpaid after giving effect to all such payments; (7) the amount of the aggregate Realized Losses for each of the Group I and Group II Student Loans, if any, for such Collection Period and the balance of Group I and Group II Student Loans that are delinquent in each delinquency period as of the end of such Collection Period; (8) the balance of the Group I Reserve Account and the Group II Reserve Accounts on such Distribution Date, after giving effect to changes therein on such Distribution Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx9) the amount of Subordinated Transferor Collections for any Interest and Expense Draw on such Distribution Date with respect to the Mortgage Loans in that Loan Group included in I and the paymentGroup II Reserve Accounts; (xxi10) for Distribution Dates during the Funding Period, the remaining Group I Pre-Funded Amount and Group II Pre-Funded Amount on such Distribution Date, after giving effect to changes therein during the related Collection Period; (11) with respect to the Distribution Date next following the Special Determination Date, the amount of Overcollateralization Step-Down Amount for that Loan Group included any sums remaining on deposit in the payment; (xxii) Group I or Group II Student Subsequent Loan Pre-Funding Sub-Accounts that are either being transferred to the Available Transferor Subordinated Amount for that Group I or Group II Other Student Loan Group and Pre-Funding Sub-Account, as applicable, or are being distributed to the Payment applicable Noteholders as a payment of principal on such Distribution Date; and (xxiii12) for the first Payment DateDistribution Date on or following the end of the Funding Period, the number amount of any remaining Group I Pre-Funded Amount and CutGroup II Pre-off Date Asset Balance of Mortgage Loans in Funded Amount that Loan has not been used to make Additional Fundings with respect to Additional Group for which the Mortgage Loan File was not delivered I or Additional Group II Student Loans, and is being paid out to the Indenture Trustee within 30 days of related Group I or Group II Noteholders, as the Closing Datecase may be. The amounts furnished Each amount set forth pursuant to clauses (ii1), (iii) (for Note Interest2), (iv3), (v), (vi), (vii), 6) and (viii7) above shall be expressed as a dollar amount per $1,000 increment of Notesoriginal principal balance of a Note. If the Monthly Statement is not accessible to any A copy of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it statements referred to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's internet website above may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward Note Owner by a written request to the Indenture Trustee addressed to the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by lawCorporate Trust Office.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Groupinformation: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of NoteholdersA Noteholders and the Class A-IO Certificateholders; (iii) the amount of Class A Note Interest in the payment, the Class A Note Rate, the amount of Class A-IO Certificate Interest in the payment related to each Class of Notes and the applicable Note Class A-IO Certificate Rate; (iv) the amount of any related Class A Note Unpaid Investor Interest Shortfall in the payment, and the amount of any Class A-IO Certificate Unpaid Interest Shortfall in the payment; (v) the amount of the remaining related Class A Note Unpaid Investor Interest Shortfall after giving effect to the payment and the amount of the remaining Class A-IO Certificate Unpaid Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the paymentpayment on the Class A Notes, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of NotesAmount; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ssC.F.R.ss. 571.13 or comparable provision) of any real estate acquired esta▇▇ ▇▇▇▇▇red through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Groupforeclosure; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Class A Note Rate for the related payment on the Class of A Notes and the Class A-IO Certificate Rate for the Payment Datepayment on the Class A-IO Certificates; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group Insurance Policy payments included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group Seller Loss Coverage Obligation payments included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiiixxii) for the first Payment Date, the number and Cut-off off- Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above for Class A Note Interest and Class A-IO Certificate Interest shall be expressed as a dollar amount per $1,000 increment of the Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfrhttps://www.abs.bankone.com. AssiAssistance in using the Indenture Tru▇▇▇▇'▇ ▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇ ▇▇e Trustee's internet website may ▇ be obtained by calling the Indenture Trustee's customer service desk at (877800) 722524-10959472. The Indenture TrusTrustee shall notify each Noteholder, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicerervicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment to the Noteholders, the Master Servicer shall deliver will forward to the Indenture Trustee the data necessary for mailing to prepare each Noteholder a statement (the "Monthly Statement") for each Payment Date with the following information setting forth among other items with respect to each Loan Groupdistribution date and each class of Notes: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii1) the aggregate amount to be paid of the distribution to the Noteholders on the related Class of Noteholdersdistribution date; (iii2) the amount of Note Interest distribution set forth in the payment related to each Class paragraph (1) above in respect of Notes interest and the applicable Note Rate; (iv) amount thereof in respect of any related Interest Carryover Shortfall, and the amount of any related Unpaid Investor Interest Carryover Shortfall in the paymentremaining; (v3) the aggregate amount of any related Interest Carryover Shortfall, and the amount of any related Interest Carryover Shortfall remaining; (4) the amount of the distribution set forth in paragraph (1) above in respect of principal and the amount thereof in respect of the Principal Shortfall Amount (as defined in the indenture), and any remaining related Unpaid Investor Interest Principal Shortfall after giving effect to the paymentAmount; (vi5) the amount of principal in Excess Spread for each group and the payment, separately stating its componentsamount applied as a distribution of Distributable Excess Spread on the Notes; (vii6) the amount of Guaranteed Principal Amount for each group for the reimbursement of previous related Investor Loss Amounts in the paymentdistribution date; (viii7) [the amount paid under the note insurance policy for the distribution date in respect of the aggregate Interest Distribution to each class of unreimbursed related Investor Loss Reduction Amounts after giving effect to notes;] (8) the paymentservicing fee; (ix9) the amount home equity loan pool balance and each home equity loan group balance as of any related Basis Risk Carryforward in the paymentclose of business on the last day of the preceding Remittance Period; (x10) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee note principal balance for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class each class of Notes after giving effect payments allocated to the paymentprincipal above; (xiii11) the Loan Group Balance amount of overcollateralization for each group as of the end close of business on the preceding Collection Perioddistribution date, after giving effect to distributions of principal on the distribution date; (xiv) any Credit Enhancement Draw Amount for the related Class of Notes; (xv12) the number and aggregate Asset Balances principal balances of Mortgage Loans the home equity loans in the related Loan Group each group as to which the Minimum Monthly Payment minimum monthly payment is delinquent for 30-30 to 59 days, 60-60 to 89 days, days and 90 or more days, respectively, as of the end of the preceding Collection Remittance Period; (xvi13) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate which is acquired by the issuing entity through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Groupforeclosure; (xvii14) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 prepayments received on Mortgage Loans in the related Loan Group by home equity loans during the Master Servicer outstanding previous Remittance Period and specifying the amount for each group; (15) the weighted average loan rate on the home equity loans as of the close first day of business on the Payment Datemonth prior to the distribution date and specifying this rate for each group; (xviii16) the Note Rate note rate for each class of notes for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Datedistribution date; and (xxiii17) the required overcollateralization for each group for the first Payment Date, distribution date. In the number and Cut-off Date Asset Balance case of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts information furnished pursuant to clauses (ii2), (iii3) (for Note Interest), (iv), (v), (vi), (vii), and (viii4) above above, the amounts shall be expressed as a dollar amount per note with a $1,000 increment of Notesdenomination. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet websiteIn addition, the Indenture Trustee shall forward a hard copy of it the Indenture Trustee's Statement to Noteholders to each Noteholder, the Master ServicerRating Agencies, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇[Bloomberg (at ▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: _____________)] and [Intex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇fy each Noteholder▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, Attention: _____________)] on the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessiblerelated Distribution Date. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the The Indenture Trustee the may fully and conclusively rely upon and shall have no liability with respect to information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements Servicer. To the extent that there are inconsistencies between the telecopy of the Code. Indenture Trustee's Statement to Noteholders and the hard copy thereof, the Servicer may rely upon the latter. (a) The Indenture Trustee shall prepare or cause to be prepared (in a manner consistent with the treatment of the Notes as indebtedness of the TransferorTrust, or as may be otherwise required by Section 3.143.21 herein) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments in respect of distributions by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law. (b) The Servicer and the Indenture Trustee shall furnish to each Noteholder and to the Insurer (if requested in writing), during the term of this Agreement, such periodic, special or other reports or information, whether or not provided for herein, as shall be necessary, reasonable or appropriate with respect to the Noteholder or the Insurer, as the case may be, or otherwise with respect to the purposes of this Agreement, all such reports or information to be provided by and in accordance with such applicable instructions and directions (if requested in writing) as the Noteholder or the Insurer, as the case may be, may reasonably require; provided that the Servicer and the Indenture Trustee shall be entitled to be reimbursed by such Noteholder or the Insurer, as the case may be, for their respective fees and actual expenses associated with providing such reports, if such reports are not generally produced in the ordinary course of their respective businesses or readily obtainable. (c) Reports and computer tapes furnished by the Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent provided in this Agreement and to the extent required by law or to the Rating Agencies, the Depositor, the Insurer's reinsurers, parent, regulators, liquidity providers and auditors and to the extent the Seller instructs the Indenture Trustee in writing to furnish information regarding the Trust or the Home Equity Loans to third-party information providers. No Person entitled to receive copies of such reports or tapes or lists of Noteholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Groupinformation: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of NotesAmount; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ssC.F.R.ss. 571.13 or comparable provisioncomparabl▇ ▇▇▇▇▇▇ion) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Groupforeclosure; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Datepayment; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment payment Date; and (xxiii) for the first Payment Date, the number and Cut-off off- Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date or Subsequent Closing Date, as applicable. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfrhttps://www.abs.bankone.com. Assi▇Assis▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877800) 722524-10959472. The Indenture Trus▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Group: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the each Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and; (xxiii) for the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date; (xxiv) the Adjusted Loan Group Balance of each Loan Group; and (xxv) the OC Deficiency Amount for each Loan Group. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ://▇▇▇▇▇ ▇▇▇ .▇▇▇▇▇▇▇▇e .▇▇▇/sfr. Assistance in using the Indenture Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇) ▇▇▇-▇▇▇▇▇ ▇▇▇▇fy . The Indenture Trustee shall notify each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Group: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class Classes of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance or Notional Balance of the related Class Classes of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Principal Amount Notes after giving effect to the payment; (xiii) the each Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Principal Amount Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xxxix) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxixx) the amount of Excess Overcollateralization Step-Down Amount for that the related Loan Group included in the paymentand Payment Date; (xxiixxi) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and; (xxiiixxii) for the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date or Subsequent Closing Date, as applicable; (xxiii) the amount being paid to the Class R-1 Certificates, (xxiv) the Net Draws for each loan group and in the aggregate; (xxv) the Adjusted Loan Group Balance of each Loan Group and the related Loss Utilization Amount; and (xxvi) the OC Deficiency Amount for each Loan Group. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. AssiAss▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e re Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture TrusTru▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy ify each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with On the second Business Day prior to each payment to NoteholdersDistribution Date, the Master Servicer shall deliver provide to the Indenture Trustee (with a copy to the data necessary Rating Agencies) for the Indenture Trustee to prepare forward to each Class A Noteholder of record, and to the Owner Trustee a statement substantially in the form of Exhibit A to Schedule D (or such other form that is acceptable to the "Monthly Statement"Indenture Trustee, the Owner Trustee and the Servicer) for each Payment Date with setting forth at least the following information with respect as to each Loan Groupthe Notes (separately stating such information as to the Class A Notes and the Class B Notes), to the extent applicable: (i) the related Investor Floating Allocation Percentage for amount of the preceding Collection Perioddistribution to be made on such Distribution Date allocable to principal of each Class of Notes; (ii) the aggregate amount of the distribution to be paid made on such Distribution Date allocable to the related interest on or with respect to each Class of NoteholdersNotes; (iii) the Pool Balance as of the close of business on the last day of the preceding Collection Period, the aggregate Principal Balance of the Receivables and the amount of Note Interest on deposit in the payment related to each Class of Notes and the applicable Note RatePrincipal Funding Account; (iv) the amount aggregate outstanding principal balance of any related Unpaid Investor Interest Shortfall the Class A Notes and the Class A Note Pool Factor, in each case as of the paymentclose of business on the last day of the preceding Collection Period, after giving effect to payments allocated to principal reported under (i) above; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect Servicing Fee paid to the paymentServicer with respect to the related Collection Period; (vi) the amount of principal in the payment, separately stating its componentsAdministration Fee paid to the Administrator with respect to the related Collection Period; (vii) the amount aggregate Acquisition Amounts for Acquired Receivables with respect to the related Collection Period paid by each of the reimbursement of previous related Investor Loss Amounts in Transferor and the paymentServicer (accounted for separately); (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the paymentRealized Losses, if any, for such Collection Period; (ix) the amount balance of any related Basis Risk Carryforward in the paymentReserve Account on such Distribution Date, after giving effect to withdrawals therefrom and deposits thereto on such Distribution Date; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment;Specified Reserve Account Balance for such Distribution Date; and (xi) the Servicing Fee for Noteholders' Class A Interest Distributable Amount, the Payment Date; (xii) Noteholders' Class B Interest Distributable Amount, the Class A Noteholders' Principal Distributable Amount and the Class B Noteholders' Principal Distributable Amount, the components of each thereof, and the amount, if any, to be withdrawn from the Reserve Account and deposited into the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group Distribution Account pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate 5.05(c) or (d); Each amount of optional advances set forth pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; paragraph (xviiii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any original principal balance of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessibleNote. Within 60 days the prescribed period of time for tax reporting purposes after the end of each calendar yearyear during the term of the Indenture, the Master Servicer shall prepare and forward to the Indenture Trustee shall mail to each Person who at any time during such calendar year shall have been a Class A Noteholder and received any payment thereon, a statement containing the information amounts described in clauses (iiii) and (viii) above aggregated and any other information required by applicable tax laws, for the calendar year. This requirement purposes of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements such Noteholder's preparation of the CodeFederal income tax returns. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may only be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or provide to the Class A Noteholders the information furnished to Noteholders for payments it by the Servicer. The Indenture Trustee (shall not be required to determine, confirm or the Paying Agent) on the Notes and shall file and distribute recompute any such forms as required by lawinformation.

Statements to Noteholders. Concurrently with (a) With respect to each payment to NoteholdersPayment Date, the Master Servicer Securities Administrator shall deliver make available to each Noteholder and each Certificateholder, the Depositor, the Owner Trustee, the Indenture Trustee Trustee, the data necessary to prepare Certificate Paying Agent and each Rating Agency, a statement (the "Monthly Statement") for each Payment Date with setting forth the following information with respect as to each Loan Groupthe Notes, to the extent applicable: (i) the related Investor Floating Allocation Percentage for the preceding Collection PeriodNote Principal Balance of each Class of Notes immediately prior to such Payment Date; (ii) the aggregate amount Group I Available Funds, Group II Available Funds and Net Monthly Excess Cash Flow, with respect to be paid Loan Group I and Loan Group II, payable to the related each Class of NoteholdersNoteholders for such Payment Date, and the Basis Risk Shortfall Carry-Forward Amount on each Class of Notes for such Payment Date; (iii) the amount of Note Interest in the payment related such distribution to each Class of Notes and applied to reduce the applicable Note RatePrincipal Balance thereof; (iv) the amount of any such distribution to Holders of each Class of Notes allocable to interest and the aggregate amount of Accrued Note Interest with respect to each Class during the related Unpaid Investor Interest Shortfall in the paymentAccrual Period; (v) the amount Note Rates for each Class of the remaining related Unpaid Investor Interest Shortfall after giving effect Notes with respect to the paymentsuch Payment Date; (vi) the amount Note Principal Balance of principal in the payment, separately stating its componentseach Class of Notes immediately after such Payment Date; (vii) the amount of such distribution to the reimbursement of previous related Investor Loss Amounts in the paymentCertificates; (viii) the amount number and the aggregate Scheduled Principal Balance of the Mortgage Loans in each Loan Group and in the aggregate as of unreimbursed the end of the related Investor Loss Reduction Amounts after giving effect to the paymentDue Period; (ix) the amount of any related Basis Risk Carryforward Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Excess Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date for each Loan Group and in the paymentaggregate; (x) the amount aggregate Note Principal Balance of the remaining related Basis Risk Carryforward each Class of Notes, after giving effect to the paymentamounts distributed on such Payment Date, separately identifying any reduction thereof due to Realized Losses other than pursuant to an actual distribution of principal and the aggregate Note Principal Balance of the Group I Notes, the Group II Notes and the Notes in the aggregate after giving effect to the distribution of principal on such Payment Date; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the information regarding any Mortgage Loan Group Balance delinquencies as of the end of the preceding Collection related Prepayment Period; (xiv) any Credit Enhancement Draw Amount for , including the related Class of Notes; (xv) the aggregate number and aggregate Asset Balances Outstanding Principal Balance of Mortgage Loans in the related Loan Group as (a) delinquent 30 to which the Minimum Monthly Payment is 59 days on a contractual basis, (b) delinquent for 30-59 days, 60-60 to 89 daysdays on a contractual basis, and (c) delinquent 90 or more daysdays on a contractual basis, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding each case as of the close of business on the last Business Day of the immediately preceding month, for each Loan Group and in the aggregate; (xii) the Overcollateralization Increase Amount with respect to each Loan Group, Overcollateralization Target Amount with respect to each Loan Group and Overcollateralized Amount with respect to each Loan Group, if any, in each case as the end of the related Payment Date; (xiii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or Servicer; (xiv) the aggregate Realized Losses with respect to the related Payment Date and cumulative Realized Losses since the Closing Date, for each Loan Group and in the aggregate; (xv) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Excess Liquidation Proceeds with respect to such Mortgage Loan and (iv) the amount of the Realized Loss with respect to such Mortgage Loan; (xvi) the number and aggregate Scheduled Principal Balance of Mortgage Loans repurchased by the Seller pursuant to the Mortgage Loan Purchase Agreement for the related Payment Date and cumulatively since the Closing Date determined in the aggregate for each Loan Group and in the aggregate; (xvii) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period for each Loan Group and in the aggregate; (xviii) the Note Rate for book value (the related Class sum of Notes for (A) the Outstanding Principal Balance of the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Payment Date, such information shall be furnished promptly after it becomes available; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06Average Loss Severity Percentage; (xx) the amount number of Subordinated Transferor Collections for the Mortgage Loans in that the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans for each Loan Group included and in the paymentaggregate; (xxi) the amount of Overcollateralization Step-Down Amount any Interest Shortfalls less any Compensating Interest paid by the Servicer or Master Servicer to cover Interest Shortfalls for that Loan Group included in the paymentsuch Payment Date; (xxii) the Available Transferor Subordinated Amount aggregate Scheduled Principal Balance of Mortgage Loans purchased by the Servicer pursuant to Section 3.21 of the Sale and Servicing Agreement for that the related Payment Date and cumulatively since the Closing Date for each Loan Group and in the aggregate; (xxiii) the aggregate Scheduled Principal Balance of defaulted Mortgage Loans sold by the Servicer pursuant to Section 3.13 of the Sale and Servicing Agreement or Section 4.03 of the HomeBanc Servicing Agreement for the related Payment DateDate and cumulatively since the Closing Date for each Loan Group and in the aggregate; and (xxiiixxiv) for whether a Servicing Termination Trigger has occurred. In addition, by January 31 of each calendar year following any year during which the first Payment DateNotes are outstanding, the number and Cut-off Date Asset Balance Securities Administrator shall furnish a report to each Noteholder of Mortgage Loans record if so requested in that Loan Group for which the Mortgage Loan File was not delivered writing at any time during each calendar year as to the Indenture Trustee within 30 days aggregate of the Closing Date. The amounts furnished reported pursuant to clauses (ii), (iii) (for Note Interest), and (iv)) with respect to the Notes for such calendar year. The Securities Administrator may conclusively rely upon the information provided by the Master Servicer pursuant to Section 3.01 of the Sale and Servicing Agreement in its preparation of monthly statements to Noteholders. In addition, (v)the Securities Administrator shall furnish statements to Certificateholders on each Payment Date in accordance with Section 5.04 of the Trust Agreement. The Securities Administrator may make available each month, (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholdersinterested party, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it monthly statement to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them Noteholders via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet Securities Administrator’s website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assiinitially located at “▇▇▇.▇▇▇▇▇▇ ▇▇ ▇.▇▇▇.” Assistance in using the website can be obtained by calling the Securities Administrator’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇▇ . Parties that are unable to use the above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Securities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and the Securities Administrator shall provide timely and adequate notification to all parties regarding any such change. To the extent timely received from the Securities Administrator, the Indenture Trustee will also make monthly statements available each month to Noteholders and Certificateholders via the Indenture Trustee’s internet website. The Indenture Trustee’s internet website will initially be located at “▇▇▇ ▇▇▇://▇▇▇▇▇▇▇▇e ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇▇▇.▇▇▇”. Assistance in using the Indenture Trustee's internet ’s website may service can be obtained by calling the Indenture Trustee's ’s customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇) ▇▇▇-▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Groupinformation: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of NotesAmount; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Groupforeclosure; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Datepayment; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment payment Date; and (xxiii) for the first and second Payment DateDates, the number and Cut-off off- Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date or Subsequent Closing Date, as applicable. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ://▇▇▇▇▇ .▇▇▇ ▇.▇▇▇▇▇▇▇.▇e ▇▇. Assistance in using the Indenture Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇) ▇▇▇-▇▇▇▇▇ ▇▇▇▇fy . The Indenture Trustee shall notify each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Groupinformation: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of NotesAmount; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. Section 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Groupforeclosure; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the number and Cut-off off- Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ://▇▇▇▇▇ .▇▇▇ ▇.▇▇▇▇▇▇▇.▇e ▇▇. Assistance in using the Indenture Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇) ▇▇▇-▇▇▇▇▇ ▇▇▇▇fy . The Indenture Trustee shall notify each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently (a) On each Payment Date, the Indenture Trustee shall deliver a copy of the applicable Servicing Certificate delivered to the Indenture Trustee pursuant to Section 3.18 to each Noteholder (other than entries (xxii), (xxix) and (xxx) below, which shall only be delivered to the Insurer) concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement Noteholders (the "Monthly StatementIndenture Trustee's Statement to Noteholders") for each Payment Date with containing the following information set forth below with respect to each Loan Groupsuch Payment Date: (i) the related Investor Floating Allocation Percentage Available Payment Amount for such Payment Date, separately stating the preceding Collection Periodamount of Interest Collections and Principal Collections; (ii) the aggregate amount of the payments to be paid Holders of the Notes for such Payment Date, separately stating the portions thereof allocable to the related Class of Noteholdersinterest and allocable to principal; (iii) the amount of Note any Interest in Carry Forward Amount and Supplemental Interest Amount for the payment related to each Class of Notes paid on such Payment Date and the applicable Note Rateamount of any Interest Carry Forward Amount or Supplemental Interest Amount for the Notes remaining after giving effect to the payments on such Payment Date; (iv) the amount of any related Unpaid Investor Interest Shortfall Note Principal Amount, the Pool Balance as reported in the paymentprior Indenture Trustee's Statement to Noteholders or, in the case of the first Determination Date, the Original Note Principal Amount and the Cut-Off Date Pool Balance; (v) the amount number and aggregate Principal Balance of any Home Equity Loans purchased by the remaining related Unpaid Investor Interest Shortfall after giving effect Depositor or the Master Servicer with respect to the paymentrelated Collection Period pursuant to Sections 2.02, 2.04 and 3.01; (vi) the amount of principal in the payment, separately stating its componentsany Substitution Adjustment Amounts for such Payment Date; (vii) the amount of the reimbursement of previous Insured Payment, if any, to be made on the related Investor Loss Amounts in the paymentPayment Date; (viii) the amount to be paid to the Transferor in respect of the aggregate of unreimbursed Ownership Interest for the related Investor Loss Reduction Amounts after giving effect Payment Date pursuant to the paymentSection 5.01(a)(viii); (ix) the amount of any Note Principal Amount after giving effect to the payment to be made on the related Basis Risk Carryforward in the paymentPayment Date; (x) the amount of Servicing Fee for the remaining related Basis Risk Carryforward after giving effect to the paymentCollection Period and any accrued amounts thereof that remain unpaid for previous Collection Periods; (xi) the Servicing Fee for amount of all payments or reimbursements to the Payment DateMaster Servicer pursuant to Sections 3.03; (xii) the Note Principal Balance of Overcollateralization Amount, the related Class of Notes Interim Overcollateralization Amount, the Interim Overcollateralization Deficiency, the Overcollateralization Release Amount, the Targeted Overcollateralization Amount, the Excess Cashflow and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes Distributable Excess Cashflow for the such Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the paymentDate; (xiii) the Loan Group amount of Distributable Excess Cashflow to be paid to the Noteholders on such Payment Date pursuant to Section 5.01(a)(iv) on such Payment Date; (xiv) the number of Home Equity Loans outstanding at the beginning and at the end of the related Collection Period; (xv) the Pool Balance as of the end of the preceding related Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Notes; (xvxvi) the number and aggregate Asset Principal Balances of Mortgage Home Equity Loans in the related Loan Group (x) as to which the Minimum Monthly Payment scheduled monthly payment is contractually delinquent for 30-59 days, 60-89 days, days and 90 or more days, respectively, and (y) that have become REO, in each case as of the end of the preceding such Collection Period; (xvixvii) the unpaid principal amount of all Home Equity Loans that became Liquidated Home Equity Loans during such Collection Period; (xviii) the Net Liquidation Proceeds received during such Collection Period; (xix) the Cumulative Realized Losses on the Home Equity Loans; (xx) the book value (within the meaning of 12 C.F.R. ssC.F.R.ss. 571.13 or comparable provision) of any real estate ▇▇▇▇ ▇▇tate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the paymentforeclosure; (xxi) the amount of Overcollateralization StepNinety Day-Down Amount Plus Delinquency Percentage for that Loan Group included in the paymentrelated Collection Period; (xxii) the Ninety Day-Plus Rolling Average for such Payment Date; (xxiii) LIBOR for such Payment Date; (xxiv) whether a Master Servicer Termination Event has occurred since the prior Determination Date, specifying each such Master Servicer Termination Event if one has occurred; (xxv) whether an Event of Default has occurred and is continuing; (xxvi) the Formula Rate, the Available Transferor Subordinated Funds Cap and the Note Rate for such Payment Date; (xxvii) the amount of any Skip-A-Pay Advances for the related Collection Period; (xxviii) the Skip-A-Pay Reimbursement Amount for that Loan Group and the such Payment Date; (xxix) the Cumulative Loss Percentage; and (xxiiixxx) for the first Payment Date, the number and Cut-off Date Asset Balance sum of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days outstanding Principal Balances of the Closing Datethree largest Home Equity Loans as of the end of the related Collection Period. The amounts In the case of information furnished pursuant to clauses (ii), (iiii) (for Note Interest), (iv), (v), (vi), (vii), and (viiiii) above above, the amounts shall be expressed expressed, in a separate section of the report, as a dollar amount per for each Note for each $1,000 increment of Notes. If the Monthly Statement is not accessible to any original dollar amount as of the Noteholders, Cut-Off Date. To the Master Servicer, extent that there are inconsistencies between the Credit Enhancer, or either Rating Agency on telecopy of the Indenture Trustee's internet website, Statement to Noteholders and the Indenture Trustee shall forward a hard copy of it to each Noteholderthereof, the Master Servicer, Servicer may rely upon the Credit Enhancer, and each Rating Agency immediately after the latter. The Indenture Trustee becomes aware that will make the Monthly Statement is not accessible reports referred to in this section (and, at its option, any of them additional files containing the same information in an alternative format) available each month to Noteholders and other parties to this Agreement via the Indenture Trustee's internet website, which is presently located at www.abs.bankone.com. The address of Persons that are unable to use the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ▇▇above webs▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇ ▇e Trustee's internet website may be obtained ▇ have a paper copy mailed to them via first class mail by calling the Indenture Trustee's customer service desk Trustee at (877800) 722524-10959472. The Indenture TrusTrustee shall have the right to chan▇▇ ▇▇▇ ▇▇▇ ▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency reports referred to in writing of any change this section are distributed in the address or means of access order to make such distribution more convenient and/or more accessible to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare above parties and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the CodeNoteholders. The Indenture Trustee shall provide timely and adequate notification to all above parties and to the Noteholders regarding any such change. (b) The Indenture Trustee shall prepare or cause to be prepared (in a manner consistent with the treatment of the Notes as indebtedness of the TransferorTrust, or as may be otherwise required by Section 3.143.16 herein) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for in respect of payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law. (c) Reports and computer tapes furnished by the Master Servicer pursuant to this Agreement shall be deemed confidential and of a proprietary nature, and shall not be copied or distributed except to the extent provided in this Agreement and to the extent required by law or to the Rating Agencies, the Depositor, the Insurer's reinsurers, parent, regulators, liquidity providers and auditors and to the extent the Seller instructs the Indenture Trustee in writing to furnish information regarding the Trust or the Home Equity Loans to third-party information providers. No Person entitled to receive copies of such reports or tapes or lists of Noteholders shall use the information therein for the purpose of soliciting the customers of the Seller or for any other purpose except as set forth in this Agreement.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Group: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class Classes of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance or Notional Balance of the related Class Classes of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Principal Amount Notes after giving effect to the payment; (xiii) the each Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Principal Amount Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-30 59 days, 60-60 89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xxxix) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxixx) the amount of Excess Overcollateralization Step-Down Amount for that the related Loan Group included in the paymentand Payment Date; (xxiixxi) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and; (xxiiixxii) for the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date or Subsequent Closing Date, as applicable; (xxiii) the amount being paid to the Class R-1 Certificates, (xxiv) the Net Draws for each loan group and in the aggregate; (xxv) the Adjusted Loan Group Balance of each Loan Group and the related Loss Utilization Amount; and (xxvi) the OC Deficiency Amount for each Loan Group. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. AssiAss▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e re Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-722 1095. The Indenture TrusTru▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy ify each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Group: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the each Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the paymentGroup; (xxi) the amount of Excess Overcollateralization Step-Down Amount for that the related Class of Notes and the Payment Date; (xxii) the amount of Loan Group Insurance Policy payments included in the payment; (xxiixxiii) the amount of Sponsor Loss Coverage Obligation payments included in the payment; (xxiv) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and; (xxiiixxv) for the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date or Subsequent Closing Date, as applicable; (xxvi) the Adjusted Loan Group Balance of each Loan Group; and (xxvii) the OC Deficiency Amount for each Loan Group. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. AssiAss▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e re Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture TrusTru▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy ify each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with (a) With respect to each payment to NoteholdersPayment Date, the Master Servicer Securities Administrator shall deliver make available via the Securities Administrator’s website, initially located at ▇▇▇.▇▇▇▇▇▇▇.▇▇▇, to each Noteholder and each Certificateholder, the Indenture Trustee Depositor, the data necessary to prepare Issuer, the Seller, the Owner Trustee, the Certificate Paying Agent and the Rating Agencies, a statement (the "Monthly Statement") for each Payment Date with setting forth the following information with respect as to each Loan Groupthe Notes, to the extent applicable: (i) the related Investor Floating Allocation Percentage Available Funds, the Basis Risk Shortfall Carryover Amount on each Class of Notes (other than the Class X Notes and Class B Notes) for such Payment Date and the preceding Collection Periodaggregate Net Interest Shortfall on each Class of Notes for such Payment Date; (ii) (a) the amount of such distribution to each Class of Notes (other than the Class X Notes) applied to reduce the Note Principal Balance thereof, and (b) the aggregate amount to be paid to the related Class of Noteholdersincluded therein representing Principal Prepayments; (iii) the amount of Note Interest in the payment related such distribution to Holders of each Class of Notes and the applicable Note Rateallocable to interest; (iv) the amount of any related Unpaid Investor Interest Shortfall in distribution to the paymentCertificates; (v) if the distribution to the Holders of any Class of Notes is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the paymentshortfall; (vi) the amount number and the aggregate Scheduled Principal Balance of principal in the payment, separately stating its componentsMortgage Loans as of the end of the related Due Period; (vii) the amount aggregate Note Principal Balance of each Class of Notes, after giving effect to the amounts distributed on such Payment Date, separately identifying any reduction thereof due to Realized Losses and the aggregate Note Principal Balance of the reimbursement Notes after giving effect to the distribution of previous related Investor Loss Amounts in the paymentprincipal on such Payment Date; (viii) the amount number and aggregate Scheduled Principal Balance of Mortgage Loans (a) as to which the Monthly Payment is delinquent for 31-60 days, 61-90 days, 91 or more days, respectively, (b) in foreclosure and (c) that have become REO Property, in each case as of the aggregate end of unreimbursed related Investor Loss Reduction Amounts after giving effect to the paymentpreceding calendar month; (ix) the amount of any related Basis Risk Carryforward in the paymentMonthly Advances and Compensating Interest payments; (x) the amount of the remaining related Basis Risk Carryforward after giving effect aggregate Realized Losses with respect to the paymentrelated Payment Date and cumulative Realized Losses since the Closing Date; (xi) the Servicing Fee number and aggregate Scheduled Principal Balance of Mortgage Loans repurchased pursuant to the Mortgage Loan Purchase Agreement for the related Payment Date and cumulatively since the Closing Date; (xii) the Note Principal Balance book value (if available) of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the paymentany REO Property; (xiii) the Loan Group Balance as amount of the end of the preceding Collection Periodany Prepayment Interest Shortfalls or Relief Act Shortfalls for such Payment Date; (xiv) any Credit Enhancement Draw Amount for the amount withdrawn from the related Class of Notes; (xv) the number Pre-Funding Accounts and aggregate Asset Balances of Mortgage Loans in the related Loan Group as Interest Coverage Accounts pursuant to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, Section 3.27(c) and 90 or more daysSection 3.28(c), respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) on that Payment Date, the amount of any optional advances remaining on deposit in the Pre-Funding Accounts and in the Interest Coverage Accounts, following such Payment Date, and the amount withdrawn from the Pre-Funding Accounts and used to buy Subsequent Mortgage Loans in the related Loan Group pursuant prior to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the such Payment Date; and (xxiiixv) for the first Payment Date, the number and Cut-off Date Asset aggregate Scheduled Principal Balance of Mortgage Loans in that Loan Group purchased pursuant to Section 2.04 of the Sale and Servicing Agreement for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of related Payment Date and cumulatively since the Closing Date. The amounts furnished pursuant to clauses (ii), Items (iii) (for Note Interest), and (iv), (v), (vi), (vii), and (viii) above shall be expressed as presented on the basis of a dollar amount per Note having a $1,000 increment denomination. In addition, by January 31 of Noteseach calendar year following any year during which the Notes are outstanding, the Securities Administrator shall furnish a report to each Noteholder of record if so requested in writing at any time during each calendar year as to the aggregate of amounts reported pursuant to (iii) and (iv) with respect to the Notes for such calendar year. If The Securities Administrator may conclusively rely upon the Monthly Statement is not accessible information provided by the Master Servicer to the Securities Administrator in its preparation of monthly statements to Noteholders. The Securities Administrator will make the monthly statements provided for in this section (and, at its option, any of additional files containing the same information in an alternative format) available each month to Noteholders, the Master Servicereach Noteholder and each Certificateholder, the Credit EnhancerDepositor, or either the Issuer, the Seller, the Owner Trustee, the Certificate Paying Agent and the Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture TrusteeSecurities Administrator's internet website. The address of the Indenture Trustee's internet Securities Administrator’s website where the Monthly Statement will shall initially be accessible is https://www.jpmorgan.com/sfr. Assilocated at “▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ .▇▇▇▇▇▇▇.▇e Trustee's internet ▇▇.” Assistance in using the website may can be obtained by calling the Indenture Trustee's Securities Administrator’s customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇) ▇▇▇-▇▇▇▇▇ ▇▇▇▇fy each Noteholder, . Parties that are unable to use the Master Servicer, website are entitled to have a paper copy mailed to them via first class mail by calling the Credit EnhancerSecurities Administrator’s customer service desk and indicating such. The Securities Administrator may have the right to change the way the monthly 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 Securities Administrator shall be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the monthly statement, and each Rating Agency may affix thereto any disclaimer it deems appropriate in writing its reasonable discretion (without suggesting liability on the part of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by lawparty hereto).

Statements to Noteholders. Concurrently with (a) With respect to each payment to NoteholdersPayment Date, the Master Servicer Securities Administrator shall deliver make available to each Noteholder and each Certificateholder, the Swap Provider, the Depositor, the Owner Trustee, the Indenture Trustee Trustee, the data necessary to prepare Certificate Paying Agent and each Rating Agency, a statement (the "Monthly Statement") for each Payment Date with setting forth the following information with respect as to each Loan Groupthe Notes, to the extent applicable: (i) the related Investor Floating Allocation Percentage for the preceding Collection PeriodNote Principal Balance of each Class of Notes immediately prior to such Payment Date; (ii) the aggregate amount Interest Funds (including a separate statement of the Interest Funds attributable to be paid each Loan Group), Principal Funds and Net Monthly Excess Cashflow payable to the related each Class of NoteholdersNoteholders for such Payment Date, and the Basis Risk Shortfall Carry-Forward Amount on each Class of Notes for such Payment Date; (iii) the amount of Note Interest in the payment related such distribution to each Class of Notes and applied to reduce the applicable Note RatePrincipal Balance thereof; (iv) the amount of any such distribution to Holders of each Class of Notes allocable to interest and the aggregate amount of Accrued Note Interest with respect to each Class during the related Unpaid Investor Interest Shortfall in the paymentAccrual Period; (v) the Class N Interest Payment Amount and the Class N Principal Payment Amount for such Payment Date, and the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect each such item paid to the paymentClass N Notes on such Payment Date; (vi) the amount Note Rates for each Class of principal in the payment, separately stating its componentsNotes with respect to such Payment Date; (vii) the amount Note Principal Balance of the reimbursement each Class of previous related Investor Loss Amounts in the paymentNotes immediately after such Payment Date; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect for distribution to the paymentCertificates; (ix) the amount number and the aggregate Stated Principal Balance of any the Mortgage Loans as of the end of the related Basis Risk Carryforward in the paymentDue Period; (x) the amount of Scheduled Principal and Principal Prepayments, (including but separately identifying the remaining related Basis Risk Carryforward after giving effect to principal amount of Principal Prepayments, Insurance Proceeds, the paymentpurchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Excess Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date in the aggregate; (xi) the Servicing Fee for aggregate Note Principal Balance of each Class of Notes, after giving effect to the amounts distributed on such Payment Date, separately identifying any reduction thereof due to Realized Losses other than pursuant to an actual distribution of principal and the aggregate Note Principal Balance of the Notes after giving effect to the distribution of principal on such Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the information regarding any Mortgage Loan Group Balance delinquencies as of the end of the preceding Collection related Prepayment Period; (xiv) any Credit Enhancement Draw Amount for , including the related Class of Notes; (xv) the aggregate number and aggregate Asset Balances Outstanding Principal Balance of Mortgage Loans in the related Loan Group as (A) delinquent 30 to which the Minimum Monthly Payment is 59 days on a contractual basis, (B) delinquent for 30-59 days, 60-60 to 89 daysdays on a contractual basis, and (C) delinquent 90 or more daysdays on a contractual basis, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding each case as of the close of business on the last Business Day of the immediately preceding month; (xiii) the amount of payments from the Corridor Contract for such Payment Date; (xiv) the Overcollateralization Increase Amount, Overcollateralization Target Amount, the Overcollateralization Release Amount and Overcollateralized Amount, if any, in each case as of the related Payment Date; (xv) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or Servicer; (xvi) the aggregate Realized Losses with respect to the related Payment Date and cumulative Realized Losses since the Closing Date; (xvii) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (A) the loan number, (B) the Stated Principal Balance of such Mortgage Loan as of the Cut-off Date, (C) the Stated Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (D) the Excess Liquidation Proceeds with respect to such Mortgage Loan and (E) the amount of the Realized Loss with respect to such Mortgage Loan; (xviii) the Note Rate number and aggregate Stated Principal Balance of Mortgage Loans repurchased by the Seller pursuant to the Mortgage Loan Purchase Agreement for the related Class of Notes for Payment Date and cumulatively since the Payment Closing Date; (xix) the number and principal balances aggregate Outstanding Principal Balance of any all Mortgage Loans in that Loan Group retransferred as to which the Transferor pursuant to each Mortgaged Property was REO Property as of Section 2.04 and Section 2.06the end of the related Due Period; (xx) the amount book value (the sum of Subordinated Transferor Collections for (A) the Outstanding Principal Balance of the Mortgage Loans in that Loan Group included Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the paymentevent that such information is not available to the Securities Administrator on the Payment Date, such information shall be furnished promptly after it becomes available; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the paymentAverage Loss Severity Percentage; (xxii) the Available Transferor Subordinated Amount number of Mortgage Loans in the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans; (xxiii) the amount of any Prepayment Interest Shortfalls less any Compensating Interest paid by the Subservicer, the Servicer or Master Servicer to cover Prepayment Interest Shortfalls for such Payment Date; (xxiv) the aggregate Stated Principal Balance of Mortgage Loans purchased by the Servicer or the Subservicer pursuant to Section 3.21 of the Sale and Servicing Agreement for the related Payment Date and cumulatively since the Closing Date; (xxv) the aggregate Stated Principal Balance of defaulted Mortgage Loans sold by the Servicer or the Subservicer pursuant to Section 3.13 of the Sale and Servicing Agreement or Sections 4.03, 4.17 and 4.18 of the Servicing Agreement for the related Payment Date and cumulatively since the Closing Date; provided that, in the event that Loan Group and such information is not available to the Securities Administrator on the Payment Date, such information shall be furnished promptly after it becomes available; and (xxiiixxvi) the amount, if any, required to be paid under the Swap Agreement for the first such Payment Date. In addition, by January 31st of each calendar year following any year during which the Notes are outstanding, the number and Cut-off Date Asset Balance Securities Administrator shall furnish a report to each Noteholder of Mortgage Loans record if so requested in that Loan Group for which the Mortgage Loan File was not delivered writing at any time during each calendar year, as to the Indenture Trustee within 30 days aggregate of the Closing Date. The amounts furnished reported pursuant to clauses (ii), (iii) (for Note Interest), and (iv), (v), (vi), (vii), and (viii) above with respect to the Notes for such calendar year. The Securities Administrator may conclusively rely upon the information provided by the Master Servicer pursuant to Section 3.01 of the Sale and Servicing Agreement and by the Swap Provider under the Swap Agreement in its preparation of monthly statements to Noteholders. In addition, the Securities Administrator shall be expressed as a dollar amount per $1,000 increment make available statements to Certificateholders on each Payment Date in accordance with Section 5.04 of Notesthe Trust Agreement. If the Monthly Statement is not accessible The Securities Administrator may make available each month, to any of the Noteholdersinterested party, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it monthly statement to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them Noteholders via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet Securities Administrator’s website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assiinitially located at “▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ .▇▇▇▇▇▇▇.▇e Trustee's internet ▇▇.” Assistance in using the website may can be obtained by calling the Indenture Trustee's Securities Administrator’s customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇) ▇▇▇-▇▇▇▇▇ ▇▇▇▇fy each Noteholder, . Parties that are unable to use the Master Servicer, above distribution option are entitled to have a paper copy mailed to them via first-class mail by calling the Credit EnhancerSecurities Administrator’s customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and each Rating Agency in writing of the Securities Administrator shall provide timely and adequate notification to all parties regarding any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by lawchange.

Statements to Noteholders. Concurrently with (i) On each payment to NoteholdersDetermination Date preceding a Quarterly Payment Date, the Master Servicer shall deliver provide to the Administrator, the Indenture Trustee Trustee, the data necessary Swap Counterparty (with a copy to prepare the Rating Agencies) for the Administrator to forward on such succeeding Quarterly Payment Date to each Noteholder of record a statement (substantially in the "Monthly Statement") for each Payment Date with form of Exhibit B setting forth at least the following information with respect as to each Loan Groupthe Notes: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iiiA) the amount of Note Interest in such distribution allocable to principal of the payment related to each Notes, the amount thereof distributable as principal of the Class of A-1 Notes, the Class A-2 Notes and the applicable Note RateSubordinate Notes, and the amount thereof attributable to the Principal Distribution Amount and the amount thereof attributable to Reserve Account Excess; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (vB) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect distribution allocable on such Quarterly Payment Date to interest on the paymentClass A-1 Notes; (vi) the amount of principal in the payment, separately stating its components; (viiC) the amount of the reimbursement of previous related Investor Loss Amounts in distribution allocable on such Quarterly Payment Date to interest on the paymentClass A-2 Notes; (viiiD) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the distribution allocable on such Quarterly Payment Date by to interest on the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Subordinate Notes; (xvE) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding Pool Balance as of the close of business on the last day of the preceding Collection Period, after giving effect to payments allocated to principal reported under clause (A) above; (F) the aggregate outstanding principal amount of the Class A-1 Notes, the Class A-2 Notes, the Subordinate Notes, the Class A-1 Note Pool Factor, the Class A-2 Note Pool Factor and the Subordinate Note Pool Factor as of such Quarterly Payment Date, after giving effect to payments allocated to principal reported under clause (A) above; (G) the Note Rate applicable with respect to each distribution referred to in clauses (B), (C) and (D) above; (H) the amount of the Servicing Fee paid to the Servicer on such Quarterly Payment Date and on each Monthly Payment Date following the immediately preceding Quarterly Payment Date including a breakdown of the components of the Servicing Fee attributable to each of the items specified in Section 3.06 of the Servicing Agreement and for each Monthly Payment Date following the immediately preceding Quarterly Payment Date; (xviiiI) the Note Rate for amount of the related Class of Notes for Administration Fee paid to the Administrator on such Quarterly Payment Date; (xixJ) the amount of the Swap Fee paid to the Swap Counterparty on such Quarterly Payment Date and the amount of any other payments made to the Swap Counterparty on such Quarterly Payment Date; (K) the amount of the aggregate Realized Losses, if any, for such Collection Period and the balance of Financed Student Loans that are delinquent in each delinquency period as of the end of such Collection Period; (L) the balance of the Reserve Account on such Quarterly Payment Date, after giving effect to changes therein on such Quarterly Payment Date and indicating whether on such Quarterly Payment Date or any Monthly Payment Date since the preceding Quarterly Payment Date any withdrawal was made therefrom pursuant to Section 2(e)(iv), the amount of each such withdrawal and the purpose(s) pursuant to Section 2(e)(iv) for each such withdrawal; (M) for each Quarterly Payment Date on or prior to the expiration of the Demand Note, either (i) the balance of the Demand Note on such Quarterly Payment Date, after giving effect to draws or repayments thereon on such Quarterly Payment Date and indicating whether on such Quarterly Payment Date or any Monthly Payment Date since the preceding Quarterly Payment Date any draw was made thereon pursuant to Section 2(e)(iv), the amount of each such draw and the purpose(s) pursuant to Section 2(e)(iv) for each such draw, or (ii) if a draw has been made on the Demand Note pursuant to Section 2(e)(vi), the balance of the Demand Note Account on such Quarterly Payment Date, after giving effect to changes therein on such Quarterly Payment Date and indicating whether on such Quarterly Payment Date or any Monthly Payment Date since the preceding Quarterly Payment Date any withdrawal was made therefrom pursuant to Section 2(e)(iv), the amount of each such withdrawal and the purpose(s) pursuant to Section 2(e)(iv) for each such withdrawal; (N) for Quarterly Payment Dates during the Funding Period, the amount on deposit in the Prefunding Account as of the last day of the related Collection Period and indicating the amount of withdrawals therefrom during such Collection Period pursuant each of clauses (A), (B) and (C) of Section 2(f)(i); (O) for the Quarterly Payment Date on or immediately following the end of the Funding Period, the amount remaining on deposit in the Prefunding Account that has not been used to make Additional Fundings; (i) the principal balance and number of Consolidation Loans originated on behalf of the Issuer during the related Collection Period, (ii) the principal balance and number of Add-on Consolidation Loans the principal balances of which have been added to the Trust during the related Collection Period and (iii) the amount withdrawn from the Prefunding Account to prepay Student Loans not held by the Issuer that were consolidated through such origination (or addition, in the case of Add-on Consolidation Loans) with one or more Financed Student Loans during such Collection Period; (Q) the principal balance and number of Serial Loans conveyed to the Issuer during the related Collection Period, the aggregate Loan Purchase Amounts thereof; and (R) the number and principal balances balance of any Mortgage Financed Student Loans, as of the end of the related Collection Period, that are In-School, Grace, Repayment, Deferral, Forbearance or Consolidation Loans in that Loan Group retransferred to as of the Transferor pursuant to each end of Section 2.04 the related Collection Period, and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the a breakdown by number and Cut-off Date Asset Balance principal balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing DateFinanced Student Loans, by school type, interest rate and loan program. The amounts furnished Each amount set forth pursuant to clauses (iiA), (iii) (for Note InterestB), (iv), (v), (vi), (vii), C) and (viiiD) above shall be expressed as a dollar amount per $1,000 increment of Notesoriginal principal amount of a Note. If the Monthly Statement is not accessible to any A copy of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it statements referred to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's internet website above may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward Note Owner by a written request to the Indenture Trustee addressed to the Corporate Trust Office. The Administrator shall be under no obligations to verify, recalculate or recompute the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent it receives pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by this Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law2(g).

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Groupinformation: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of NotesAmount; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ssC.F.R.ss. 571.13 or comparable provisioncomparab▇▇ ▇▇▇▇▇sion) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Groupforeclosure; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the number and Cut-off off- Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfrhttps://www.abs.bankone.com. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e re Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877800) 722524-10959472. The Indenture TrusTru▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy ify each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Groupinformation: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of NotesAmount; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Groupforeclosure; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the number and Cut-off off- Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. AssiAss▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e re Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture TrusTru▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy ify each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the The Indenture Trustee (based upon information received from the data necessary to prepare a statement (the "Monthly Statement"Servicer) for will make available via its internet website on each Payment Date concurrently with each distribution to the following information Noteholders, to the Servicer, the Noteholders and the Insurer a statement setting forth among other items with respect to each Loan Groupthe Notes: (i) the related Investor Floating Allocation Percentage for amount being distributed to the preceding Collection PeriodNotes; (ii) the aggregate amount to be paid to of interest included in such distribution and the related Class of NoteholdersNote Rate; (iii) the amount, if any, of overdue accrued interest included in such distribution (and the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rateinterest thereon); (iv) the amount amount, if any, of any related Unpaid Investor Interest Shortfall in the paymentremaining overdue accrued interest after giving effect to such distribution; (v) the amount amount, if any, of the remaining related Unpaid Investor Interest Shortfall after giving effect to the paymentprincipal included in such distribution; (vi) the amount of principal in the payment, separately stating its componentsServicing Fee for such Payment Date; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the paymentprincipal balance, after giving effect to such distribution; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal initial Pool Balance of and the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Pool Balance as of the end of the preceding Collection Period; (ix) the number and aggregate Principal Balance of Mortgage Loans that were (A) delinquent (exclusive of Mortgage Loans in bankruptcy or foreclosure or properties acquired by the Trust by deed in lieu of foreclosure) (1) 30 to 59 days, (2) 60 to 89 days, (3) 90 to 119 days, (4) 120 to 149 days, (5) 150 to 179 days, (6) 180 to 269 days and (7) 270 or more days, (B) in foreclosure, (C) in bankruptcy and (D) properties acquired by the Trust by deed in lieu of foreclosure; (A) cumulative losses as a percentage of original Pool Balance, (B) cumulative losses as a percentage of current Pool Balance and (C) the twelve-month rolling average of cumulative losses as a percentage of original Pool Balance; (xi) the three-month rolling average of Mortgage Loans that are 60 days or more delinquent; (xii) the book value of any real estate which is acquired by the Trust through foreclosure or grant of deed in lieu of foreclosure; (xiii) the amount of any draws on the Policy;; (xiv) any Credit Enhancement Draw Amount for whether the related Class of NotesPayment Date will fall during the Managed Amortization Period or the Rapid Amortization Period; (xv) the number and aggregate Asset Balances of Mortgage Loans in whether a Rapid Amortization Event has occurred during the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) amount, if any, of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for Relief Act Shortfalls incurred during the related Loan GroupCollection Period; (xvii) the amount outstanding principal balance of any optional advances on the three Mortgage Loans in with the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer largest outstanding as of the close of business on the Payment Dateprincipal balance; (xviii) the Note Rate for the related Class whether an Event of Notes for the Payment DateServicing Termination or an Insurer Default has occurred; (xix) the number and principal balances amount, if any, of any Mortgage Loans in that Loan Group retransferred to Additional Balances created during the Transferor pursuant to each of Section 2.04 and Section 2.06related Collection Period; (xx) whether the amount of Subordinated Transferor Collections for Managed Amortization Period has ended and the Mortgage Loans in that Loan Group included in the paymentRapid Amortization Period has begun; (xxi) the amount of Specified Overcollateralization Step-Down Amount for that Loan Group included in the paymentAmount; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Overcollateralization Amount, after giving effect to payments on such Payment Date; (xxiii) the amount of any servicing advances made by the Servicer during the related Collection Period; and (xxiiixxiv) for the first Payment Dateamount, if any, of interest shortfalls relating to prepayments during the number and Cut-off Date Asset Balance related Collection Period. In the case of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts information furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), ) and (v)) above, (vi), (vii), and (viii) above the amounts shall be expressed as a dollar amount per Class A Note with a $1,000 increment of Notesdenomination. If The Indenture Trustee will make the Monthly Statement is not accessible reports referred to above (and, at its option, any of additional files containing the same information in an alternative format) available each month to Noteholders, the Master ServicerInsurer, the Credit Enhancer, or either Rating Agency on Sponsor and the Servicer via the Indenture Trustee's internet website, which is presently located at www.mbsreporting.com. Any such persons that are unable to use this website are entitled to have a paper copy of such information sent to them via facsimile by faxing a request to the Indenture Trustee shall forward at (212) 815-3986. If the Insurer requests a hard paper copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ such in▇▇▇▇▇▇▇▇e Trustee's internet website may ▇, ▇ ▇aper copy shall be obtained by calling sent to the Insurer each month without the need for any additional request. The Indenture Trustee shall have the right to change the manner in which the reports referred to in this section are distributed in order to make such distribution more convenient and/or more accessible to the Noteholders, the Insurer, the Sponsor and the Servicer. The Indenture Trustee will provide timely and adequate notification to all such parties regarding any such change to the method of distribution of the reports. Each report provided to the Insurer (either via the Indenture Trustee's customer service desk at website or a paper copy) pursuant to this Section 8.8 shall additionally report: (877a) 722-1095. The Indenture Trus▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy each Noteholderthe total amount of funds received as Insured Amounts or Preference Amounts for such Payment Date, separately stating the Master Servicer, portions used to pay principal and interest components of the Credit Enhancer, Deficiency Amount; (b) the cumulative amount of Insured Amounts or Preference Amounts paid by the Insurer through such Payment Date; and each Rating Agency in writing of any change in (c) other information as the address or means of access Insurer may reasonably request from time to the internet website where the Monthly Statement is accessibletime. Within 60 days after the end of each calendar year, the Master Servicer shall prepare or cause to be prepared and shall forward to the Indenture Trustee the information set forth in clauses (iiii) and (viii) above aggregated for the such calendar year. This requirement Such obligation of the Master Servicer shall be deemed to have been satisfied if to the extent that substantially comparable information is shall be provided by the Master Servicer or a Note Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Group: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; ; (xiv) any Credit Enhancement Draw Amount for the related Class of Notes; ; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment distribution to Noteholders, the Master Servicer shall deliver to the Indenture Trustee shall forward to each Noteholder, the data necessary to prepare Servicer, the Insurer and each Rating Agency a statement (prepared by the "Monthly Statement") for each Payment Date with Servicer pursuant to Section 4.01 of the following information Sale and Servicing Agreement with respect to each Loan Groupsuch distribution setting forth: (i) the related Investor Floating Allocation Percentage aggregate amount of collections received on the Mortgage Loans on or prior to the Determination Date in respect of such Collection Period for the preceding Collection PeriodPool I and Pool II; (ii) the aggregate amount to be paid to the related Class of Noteholders(a) Interest Collections and (b) Principal Collections for such Collection Period and for each Pool; (iii) the amount of Note Class A-1 Interest in the payment related to each Class of Notes Rate and the applicable Note RateClass A-2 Interest Rate for the related Interest Accrual Period; (iv) the amount of any related Unpaid Investor Interest Shortfall in Principal Payment Amount, separately stating the paymentcomponents thereof; (v) the amount of any Loan Purchase Price paid by the remaining related Unpaid Investor Interest Shortfall after giving effect Sponsor pursuant to Section 2.03 or 2.05 of the paymentSale and Servicing Agreement; (vi) any accrued and unpaid Servicing Fees for previous Collection Periods and the amount of principal in the payment, separately stating its componentsServicing Fee for each Pool and for such Collection Period; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee Pool Balance for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance each Pool as of the end of the preceding Collection Period and as of the end of the second preceding Collection Period; (xivviii) any Credit Enhancement Draw Amount for the Class A-1 Note Principal Balance, the Class A-2 Note Principal Balance and related Class of NotesPool Factor after giving effect to the distribution on such Payment Date; (xvix) the aggregate amount of Additional Balances created with respect to the HELOC Mortgage Loans during the previous Collection Period; (x) the number and aggregate Asset Principal Balances of Mortgage Loans in the related Loan Group (x) as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, days and 90 or more days, respectivelyrespectively and (y) for which the related Mortgaged Property has become an REO Property, in each case as of the end of the preceding Collection Period; (xi) whether a Rapid Amortization Event has occurred since the prior Determination Date, specifying each such Rapid Amortization Event if one has occurred; (xii) whether an Event of Servicing Termination has occurred since the prior Determination Date, specifying each such Event of Servicing Termination if one has occurred; (xiii) the Class A-1 Deficiency Amount or the Class A-2 Deficiency Amount, if any, for such Payment Date; (xiv) the total amount of funds on deposit in the Reserve Fund, the amount to be transferred from the Reserve Fund to the Collection Account pursuant to Section 8.5(b) of this Indenture; (xv) the number and Principal Balances of any Mortgage Loans retransferred to the Sponsor pursuant to Section 2.07 of the Sale and Servicing Agreement; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure Servicing Fee for the related Loan Groupeach Pool for such Payment Date; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant Overcollateralization Deficit with respect to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Dateeach Pool; (xviii) the Note Rate amount of the Accelerated Principal Payment, if any, for the related each Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the related Payment Date; and (xxiiixix) for the first Payment Dateamount of any Pool I Overcollateralization Reduction Amount and Pool II Overcollateralization Reduction Amount. In addition, the number certificate delivered in January 2000 shall also indicate (i) the amount on deposit in the Pre-Funding Account as of such Payment Date and Cut-off Date Asset Balance transfers of funds required by Section 8.9 and (ii) the aggregate of the Principal Balances of Subsequent Mortgage Loans in that Loan Group for which purchased on the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing related Subsequent Transfer Date. The amounts In the case of information furnished pursuant to clauses (ii), (iiiiv) (for Note Interest), (iv), and (v)) above, (vi), (vii), and (viii) above the amounts shall be expressed as a dollar amount per Note with a $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessibledenomination. Within 60 days after the end of each calendar year, the Master Servicer shall prepare or cause to be prepared and shall forward to the Indenture Trustee the information set forth in clauses clause (iii) and (vi) above aggregated for the such calendar year. This requirement Such obligation of the Master Servicer shall be deemed to have been satisfied if to the extent that substantially comparable information is shall be provided by the Master Servicer or a Note Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Group: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; ; (ii) the aggregate amount to be paid to the related Class of Noteholders; ; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; ; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; ; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; ; (vi) the amount of principal in the payment, separately stating its components; ; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; ; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; ; (ix) the amount of any related Basis Risk Carryforward in the payment; ; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; ; (xi) the Servicing Fee for the Payment Date; ; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; ; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; ; (xiv) any Credit Enhancement Draw Amount for the related Class of Notes; ; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; ; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; ; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; ; (xviii) the Note Rate for the related Class of Notes for the Payment Date; ; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; ; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; ; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; ; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and and (xxiii) for the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. AssiAss▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e re Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture TrusTru▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy ify each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Group: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and; (xxiii) for the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date; (xxiv) the Adjusted Loan Group Balance of each Loan Group; and (xxv) the OC Deficiency Amount for each Loan Group. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with No later than the fifth (5th) day after each payment to NoteholdersDistribution Date, the Master Servicer Issuer shall deliver provide or cause to be provided to the Indenture Trustee (with a copy to the data necessary Rating Agencies) for the Indenture Trustee to prepare forward within five (5) days of receipt to each Noteholder and to the Paying Agent for the Paying Agent to forward within five (5) days of receipt to each Certificateholder, a statement (the "Monthly Statement") for each Payment Date with the following setting forth information with respect to each Loan Groupthe Notes and Financed Student Loans as of the most recent Distribution Date, unless otherwise indicated, including the following to the extent applicable: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iiia) the amount of Note Interest in the payment related payments with respect to each Class Series of Notes and the applicable Note Ratepaid with respect to principal; (ivb) the amount of any related Unpaid Investor Interest Shortfall in the paymentpayments with respect to each Series of Notes paid with respect to interest; (vc) the amount principal balance of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Financed Student Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Datelast day of the related Collection Period; (xviiid) the Note Rate for Pool Balance as of the close of business on the last day of the related Class of Notes for the Payment DateCollection Period; (xixe) the aggregate outstanding principal amount of the Notes of each Series as of the close of business, after giving effect to payments allocated to principal reported under clause (a) above; (f) the Class A Percentage and the Class B Percentage as of the close of business; (g) the Senior Parity Percentage as of the close of business; (h) the Parity Percentage as of the close of business; (i) the interest rate for any Series of variable rate Notes, indicating how such interest rate is calculated; (j) the amount of the servicing fees allocated to the Master Servicer as of the close of business; (k) the amount of the administration fee and the trustee fee, if any, allocated as of the close of business; (l) the amount of Available Funds received during the preceding Collection Period relating to Financed Student Loans; (m) the amount of the payment attributable to moneys in the Capitalized Interest Account, the amount of any other withdrawals from the Capitalized Interest Account and the balance of the Capitalized Interest Account as of the close of business; (n) the amount of the payment attributable to moneys in the Distribution Account, the amount of any other withdrawals from the Distribution Account and the balance of the Distribution Account as of the close of business; (o) the amount of the payment attributable to moneys in the Reserve Account, the amount of any other withdrawals from the Reserve Account and the balance of the Reserve Account and the Reserve Account Requirement as of the close of business; (p) the balance of the Collection Account as of the close of business on the last day of the related Collection Period; (q) the aggregate amount, if any, paid for Financed Student Loans purchased from the Trust during the preceding Collection Period; (r) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections Financed Student Loans, as of the close of business on the last day of the preceding month, (A) that are (i) eleven (11) to thirty (30) days delinquent, thirty-one (31) to sixty (60) days delinquent, (ii) sixty-one (61) to ninety (90) days delinquent, (iii) ninety-one (91) to one hundred twenty (120) days delinquent, (iv) one hundred twenty-one (121) to one hundred fifty (150) days delinquent, (v) one hundred fifty-one (151) to one hundred eighty (180) days delinquent, (vi) greater than one hundred eighty (180) days delinquent, and (B) for which claims have been filed with the Mortgage Loans in appropriate Guaranty Agency and that Loan Group included in the are awaiting payment; (xxis) the Value of the Trust Estate and the Outstanding principal amount of Overcollateralization Step-Down Amount for that Loan Group included in the paymentNotes as of the close of business; (xxiit) the Available Transferor Subordinated Amount number and percentage by dollar amount of (i) initial federal reimbursement claims for that Loan Group Financed Student Loans and (ii) rejected federal reimbursement claims for Financed Student Loans; (u) principal balance of Financed Student Loans in each of the Payment Datefollowing statuses: (i) forbearance, (ii) deferment, (iii) claims, (iv) in-school, (v) grace, and (vi) repayment; and (xxiiiv) for the first Payment Date, the number and Cut-off Date Asset Balance principal balance of Mortgage Financed Student Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days by loan type as of the Closing Dateclose of business. The amounts furnished Each amount set forth pursuant to clauses paragraph (iia), (iii) (for Note Interestb), (iv), (v), (vi), (vii), k) and (viiil) above shall be expressed as a dollar amount per $1,000 increment Authorized Denomination of Notesa Note. If an Event of Default shall have occurred, the Monthly Statement is not accessible statements referred to any above shall contain a description of the Noteholders, Event of Default. A copy of the Master Servicer, the Credit Enhancer, or either Rating Agency on statements referred to above may be obtained by any Noteholder by a written request to the Indenture Trustee's internet website, addressed to its Corporate Trust Office. Within sixty (60) days after each April 15 of each year commencing with the April 15 following the first issuance of Notes under this Indenture, if required by Section 313(a) of the Trust Indenture Act, the Indenture Trustee shall forward transmit, pursuant to Section 313(c) of the Trust Indenture Act, a hard copy brief report dated as of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible such April 15 with respect to any of them via the Indenture Trustee's internet website. The address events specified in such Section 313(a) which may have occurred since the later of the Indenture Trustee's internet website where immediately preceding April 15 or the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing date of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Codethis Indenture. The Indenture Trustee shall prepare (in a manner consistent with transmit the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise reports required by Section 3.14313(a) Internal Revenue Service Form 1099 (or any successor formof the Trust Indenture Act at the time specified therein. Reports pursuant to this Section 12.4 shall be transmitted in the manner and to the Persons required by Sections 313(c) and any other tax forms required to be filed or furnished to Noteholders for payments by 313(d) of the Trust Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by lawAct.

Statements to Noteholders. Concurrently with (a) With respect to each payment to NoteholdersPayment Date, the Master Servicer Securities Administrator shall deliver make available to each Noteholder and each Certificateholder, the Depositor, the Owner Trustee, the Indenture Trustee Trustee, the data necessary to prepare Certificate Paying Agent and each Rating Agency, a statement (the "Monthly Statement") for each Payment Date with setting forth the following information with respect as to each Loan Groupthe Notes, to the extent applicable: (i) the related Investor Floating Allocation Percentage for the preceding Collection PeriodNote Principal Balance of each Class of Notes immediately prior to such Payment Date; (ii) the aggregate amount to be paid Group 1 Available Funds, Group 2 Available Funds and Net Monthly Excess Cashflow, with respect to the related Group 1 Loans and Group 2 Loans payable to each Class of NoteholdersNoteholders for such Payment Date, and the Basis Risk Shortfall Carry-Forward Amount on each Class of Notes for such Payment Date; (iii) the amount of Note Interest in the payment related such distribution to each Class of Notes and applied to reduce the applicable Note RatePrincipal Balance thereof; (iv) the amount of any such distribution to Holders of each Class of Notes allocable to interest and the aggregate amount of Accrued Note Interest with respect to each Class during the related Unpaid Investor Interest Shortfall in the paymentAccrual Period; (v) the amount Note Rates for each Class of the remaining related Unpaid Investor Interest Shortfall after giving effect Notes with respect to the paymentsuch Payment Date; (vi) the amount Note Principal Balance of principal in the payment, separately stating its componentseach Class of Notes immediately after such Payment Date; (vii) the amount of for distribution to the reimbursement of previous related Investor Loss Amounts in the paymentCertificates; (viii) the amount number and the aggregate Scheduled Principal Balance of the aggregate Mortgage Loans as of unreimbursed the end of the related Investor Loss Reduction Amounts after giving effect to the paymentDue Period; (ix) the amount of any related Basis Risk Carryforward Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Excess Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date in the paymentaggregate and separately for Loan Group 1 and Loan Group 2; (x) the amount aggregate Note Principal Balance of the remaining related Basis Risk Carryforward each Class of Notes, after giving effect to the payment; (xi) the Servicing Fee for the amounts distributed on such Payment Date; (xii) , separately identifying any reduction thereof due to Realized Losses other than pursuant to an actual distribution of principal and the aggregate Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the paymentdistribution of principal on such Payment Date; (xiiixi) the information regarding any Mortgage Loan Group Balance delinquencies as of the end of the preceding Collection related Prepayment Period; (xiv) any Credit Enhancement Draw Amount for , including the related Class of Notes; (xv) the aggregate number and aggregate Asset Balances Outstanding Principal Balance of Mortgage Loans in the related Loan Group as (a) delinquent 30 to which the Minimum Monthly Payment is 59 days on a contractual basis, (b) delinquent for 30-59 days, 60-60 to 89 daysdays on a contractual basis, and (c) delinquent 90 or more daysdays on a contractual basis, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding each case as of the close of business on the last Business Day of the immediately preceding month, determined in the aggregate and separately for Loan Group 1 and Loan Group 2; (xii) the Overcollateralization Increase Amount, Overcollateralization Target Amount, the Overcollateralization Release Amount and Overcollateralized Amount, if any, in each case as of the related Payment Date, in each case as determined separately for each Loan Group; (xiii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or Servicer; (xiv) the aggregate Realized Losses with respect to the related Payment Date and cumulative Realized Losses since the Closing Date; (xv) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Excess Liquidation Proceeds with respect to such Mortgage Loan, (iv) the Loan Group and (v) the amount of the Realized Loss with respect to such Mortgage Loan; (xvi) the number and aggregate Scheduled Principal Balance of Mortgage Loans repurchased by the Seller pursuant to the Mortgage Loan Purchase Agreement for the related Payment Date and cumulatively since the Closing Date; (xvii) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period, determined in the aggregate and separately for each Loan Group; (xviii) the Note Rate for book value (the related Class sum of Notes for (A) the Outstanding Principal Balance of the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Payment Date, such information shall be furnished promptly after it becomes available; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06Average Loss Severity Percentage; (xx) the amount number of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans, determined in the paymentaggregate and separately for each Loan Group; (xxi) the amount of Overcollateralization Step-Down Amount any Interest Shortfalls less any Compensating Interest paid by the Servicer or Master Servicer to cover Interest Shortfalls for that Loan Group included in the paymentsuch Payment Date; (xxii) the Available Transferor Subordinated Amount aggregate Scheduled Principal Balance of Mortgage Loans purchased by the Servicer pursuant to Section 3.21 of the Sale and Servicing Agreement for that Loan Group the related Payment Date and cumulatively since the Closing Date; (xxiii) the aggregate Scheduled Principal Balance of defaulted Mortgage Loans sold by the Servicer pursuant to Section 3.13 of the Sale and Servicing Agreement or Sections 4.03, 4.17 and 4.18 of the MortgageIT Servicing Agreement for the related Payment Date and cumulatively since the Closing Date; and (xxiiixxiv) the amount, if any, required to be paid under either of the Corridor Contract for the first such Payment Date. In addition, by January 31 of each calendar year following any year during which the Notes are outstanding, the number and Cut-off Date Asset Balance Securities Administrator shall furnish a report to each Noteholder of Mortgage Loans record if so requested in that Loan Group for which the Mortgage Loan File was not delivered writing at any time during each calendar year as to the Indenture Trustee within 30 days aggregate of the Closing Date. The amounts furnished reported pursuant to clauses (ii), (iii) (for Note Interest), and (iv)) with respect to the Notes for such calendar year. The Securities Administrator may conclusively rely upon the information provided by the Master Servicer pursuant to Section 3.01 of the Sale and Servicing Agreement and by the Corridor Contract Counterparty under the Corridor Contract in its preparation of monthly statements to Noteholders. In addition, (v)the Securities Administrator shall make available statements to Certificateholders on each Payment Date in accordance with Section 5.04 of the Trust Agreement. The Securities Administrator may make available each month, (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholdersinterested party, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it monthly statement to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them Noteholders via the Indenture TrusteeSecurities Administrator's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assiinitially located at “w▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ .▇▇▇▇▇▇▇.▇e Trustee's internet ▇▇.” Assistance in using the website may can be obtained by calling the Indenture TrusteeSecurities Administrator's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇) ▇▇▇-▇▇▇▇▇ ▇▇▇▇fy each Noteholder, . Parties that are unable to use the Master Servicer, above distribution option are entitled to have a paper copy mailed to them via first class mail by calling the Credit EnhancerSecurities Administrator's customer service desk and indicating such. The Securities Administrator shall have the right to change the way such reports are distributed in order to make such distribution more convenient and/or more accessible to the parties, and each Rating Agency in writing of the Securities Administrator shall provide timely and adequate notification to all parties regarding any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by lawchange.

Statements to Noteholders. Concurrently with (a) With respect to each payment to NoteholdersPayment Date, the Master Servicer Securities Administrator shall deliver make available via the Securities Administrator's website, initially located at www.ctslink.com, to each Notehold▇▇ ▇▇▇ ▇▇▇▇ ▇▇rtificateholder, the Indenture Trustee Depositor, the data necessary to prepare Issuer, the Seller, the Owner Trustee, the Certificate Paying Agent and the Rating Agencies, a statement (the "Monthly Statement") for each Payment Date with setting forth the following information with respect as to each Loan Groupthe Notes, to the extent applicable: (i) the related Investor Floating Allocation Percentage Available Funds, the Basis Risk Shortfall Carryover Amount on each Class of Class A Notes for such Payment Date and the preceding Collection Periodaggregate Net Interest Shortfall on each Class of Notes for such Payment Date; (iia) the amount of such distribution to each Class of Notes (other than the Class X Notes) applied to reduce the Note Principal Balance thereof, and (b) the aggregate amount to be paid to the related Class of Noteholdersincluded therein representing Principal Prepayments; (iii) the amount of Note Interest in the payment related such distribution to Holders of each Class of Notes and the applicable Note Rateallocable to interest; (iv) the amount of any related Unpaid Investor Interest Shortfall in distribution to the paymentCertificates; (v) if the distribution to the Holders of any Class of Notes is less than the full amount that would be distributable to such Holders if there were sufficient funds available therefor, the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the paymentshortfall; (vi) the amount number and the aggregate Scheduled Principal Balance of principal in the payment, separately stating its componentsMortgage Loans as of the end of the related Due Period; (vii) the amount aggregate Note Principal Balance and Notional Amount, as applicable, of each Class of Notes, after giving effect to the amounts distributed on such Payment Date, separately identifying any reduction of the reimbursement Note Principal Balance due to Realized Losses and the aggregate Note Principal Balance of previous related Investor Loss Amounts in the paymentNotes after giving effect to the distribution of principal on such Payment Date; (viii) the amount number and aggregate Scheduled Principal Balance of Mortgage Loans (a) as to which the Monthly Payment is delinquent for 31-60 days, 61-90 days, 91 or more days, respectively, (b) in foreclosure and (c) that have become REO Property, in each case as of the aggregate end of unreimbursed related Investor Loss Reduction Amounts after giving effect to the paymentpreceding calendar month; (ix) the amount of any related Basis Risk Carryforward in the paymentMonthly Advances and Compensating Interest payments; (x) the amount of the remaining related Basis Risk Carryforward after giving effect aggregate Realized Losses with respect to the paymentrelated Payment Date and cumulative Realized Losses since the Closing Date; (xi) the Servicing Fee number and aggregate Scheduled Principal Balance of Mortgage Loans repurchased pursuant to the Mortgage Loan Purchase Agreement for the related Payment Date and cumulatively since the Closing Date; (xii) the Note Principal Balance book value (if available) of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the paymentany REO Property; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate Prepayment Interest Shortfalls or Relief Act Shortfalls for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the such Payment Date; and (xxiiixiv) for the first Payment Date, the number and Cut-off Date Asset aggregate Scheduled Principal Balance of Mortgage Loans in that Loan Group purchased pursuant to Section 2.04 of the Sale and Servicing Agreement for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of related Payment Date and cumulatively since the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses Items (iii) and (viiv) above aggregated shall be presented on the basis of a Note having a $1,000 denomination. In addition, by January 31 of each calendar year following any year during which the Notes are outstanding, the Securities Administrator shall furnish a report to each Noteholder of record if so requested in writing at any time during each calendar year as to the aggregate of amounts reported pursuant to (iii) and (iv) with respect to the Notes for the such calendar year. This requirement of The Securities Administrator may conclusively rely upon the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements the Securities Administrator in its preparation of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required monthly statements to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by lawNoteholders.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Groupinformation: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; ; (ii) the aggregate amount to be paid to the related Class of Noteholders; ; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; ; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; ; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; ; (vi) the amount of principal in the payment, separately stating its components; ; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; ; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; ; (ix) the amount of any related Basis Risk Carryforward in the payment; ; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; ; (xi) the Servicing Fee for the Payment Date; ; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; ; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; ; (xiv) any Credit Enhancement Draw Amount for the related Class of Notes; Amount; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; ; (xvi) the book value (within the meaning of 12 C.F.R. ss▇.▇.▇.▇▇. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; foreclosure; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; ; (xviii) the Note Rate for the related Class of Notes for the Payment Date; payment; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; ; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; ; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; ; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment payment Date; and and (xxiii) for the first and second Payment DateDates, the number and Cut-off off- Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date or Subsequent Closing Date, as applicable. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ://▇▇▇▇▇ .▇▇▇ ▇.▇▇▇▇▇▇▇.▇e ▇▇. Assistance in using the Indenture Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇) ▇▇▇-▇▇▇▇▇ ▇▇▇▇fy . The Indenture Trustee shall notify each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Groupinformation: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of NotesAmount; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. Section 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Groupforeclosure; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Datepayment; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment payment Date; and (xxiii) for the first Payment Date, the number and Cut-off off- Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfrhttps://www.abs.bankone.com. AssiAssistance in using the Indenture Tru▇▇▇▇'▇ ▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇ ▇▇e Trustee's internet website may ▇ be obtained by calling the Indenture Trustee's customer service desk at (877800) 722524-10959472. The Indenture TrusTrustee shall notify each Noteholder, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicerervicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Groupinformation: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Invested Amount, the Note Principal Balance of the related Class of Notes Balance, and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) [any Credit Enhancement Draw Amount for the related Class of NotesAmount;] (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for [30-59 59] days, [60-89 89] days, and 90 [90] or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss▇.▇.▇.▇▇. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Groupforeclosure; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Datepayment; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment payment Date; and (xxiii) for the first and second Payment DateDates, the number and Cut-off off- Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 [30] days of the Closing Date or Subsequent Closing Date, as applicable. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 [1,000] increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Group: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and; (xxiii) for the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date; and (xxiv) the Adjusted Loan Group Balance. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. AssiAss▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e re Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture TrusTru▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy ify each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Group: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and; (xxiii) for the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date; (xxiv) the Adjusted Loan Group Balance of each Loan Group; and (xxv) the OC Deficiency Amount for each Loan Group. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr____________________. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e Assistance in using the Indenture Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877___) 722___-1095_____. The Indenture Trus▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy Trustee shall notify each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with (a) With respect to each payment to NoteholdersPayment Date, the Master Servicer Securities Administrator shall deliver make available to each Noteholder and each Certificateholder, the Depositor, the Owner Trustee, the Indenture Trustee Trustee, the data necessary to prepare Certificate Paying Agent, the Swap Provider and each Rating Agency, a statement (the "Monthly Statement") for each Payment Date with setting forth the following information with respect as to each Loan Groupthe Notes, to the extent applicable: (i) the related Investor Floating Allocation Percentage for the preceding Collection PeriodNote Principal Balance of each Class of Notes immediately prior to such Payment Date; (ii) the aggregate amount to be paid Group 1 Available Funds, Group 2 Available Funds and Net Monthly Excess Cashflow, with respect to the related Group 1 Loans and Group 2 Loans payable to each Class of NoteholdersNoteholders for such Payment Date, and the Basis Risk Shortfall Carry-Forward Amount on each Class of Notes for such Payment Date; (iii) the amount of Note Interest in the payment related such distribution to each Class of Notes and applied to reduce the applicable Note RatePrincipal Balance thereof; (iv) the amount of any such distribution to Holders of each Class of Notes allocable to interest and the aggregate amount of Accrued Note Interest with respect to each Class during the related Unpaid Investor Interest Shortfall in the paymentAccrual Period; (v) the amount Note Rates for each Class of the remaining related Unpaid Investor Interest Shortfall after giving effect Notes with respect to the paymentsuch Payment Date; (vi) the amount Note Principal Balance of principal in the payment, separately stating its componentseach Class of Notes immediately after such Payment Date; (vii) the amount of for distribution to the reimbursement of previous related Investor Loss Amounts in the paymentCertificates; (viii) the amount number and the aggregate Scheduled Principal Balance of the aggregate Mortgage Loans as of unreimbursed the end of the related Investor Loss Reduction Amounts after giving effect to the paymentDue Period; (ix) the amount of any related Basis Risk Carryforward Scheduled Principal and Principal Prepayments, (including but separately identifying the principal amount of Principal Prepayments, Insurance Proceeds, the purchase price in connection with the purchase of Mortgage Loans, cash deposits in connection with substitutions of Mortgage Loans and Excess Liquidation Proceeds) and the number and principal balance of Mortgage Loans purchased or substituted for during the relevant period and cumulatively since the Cut-off Date in the paymentaggregate and separately for Loan Group 1 and Loan Group 2; (x) the amount aggregate Note Principal Balance of the remaining related Basis Risk Carryforward each Class of Notes, after giving effect to the payment; (xi) the Servicing Fee for the amounts distributed on such Payment Date; (xii) , separately identifying any reduction thereof due to Realized Losses other than pursuant to an actual distribution of principal and the aggregate Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the paymentdistribution of principal on such Payment Date; (xiiixi) the information regarding any Mortgage Loan Group Balance delinquencies as of the end of the preceding Collection related Prepayment Period; (xiv) any Credit Enhancement Draw Amount for , including the related Class of Notes; (xv) the aggregate number and aggregate Asset Balances Outstanding Principal Balance of Mortgage Loans in the related Loan Group as (a) delinquent 30 to which the Minimum Monthly Payment is 59 days on a contractual basis, (b) delinquent for 30-59 days, 60-60 to 89 daysdays on a contractual basis, and (c) delinquent 90 or more daysdays on a contractual basis, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding each case as of the close of business on the last Business Day of the immediately preceding month, determined in the aggregate and separately for Loan Group 1 and Loan Group 2; (xii) the Overcollateralization Increase Amount, Overcollateralization Target Amount, the Overcollateralization Release Amount and Overcollateralized Amount, if any, in each case as of the related Payment Date, in each case as determined separately for each Loan Group; (xiii) the amount of any Monthly Advances, Compensating Interest Payments and outstanding unreimbursed advances by the Master Servicer or Servicer; (xiv) the aggregate Realized Losses with respect to the related Payment Date and cumulative Realized Losses since the Closing Date; (xv) with respect to each Mortgage Loan which incurred a Realized Loss during the related Prepayment Period, (i) the loan number, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the Cut-off Date, (ii) the Scheduled Principal Balance of such Mortgage Loan as of the beginning of the related Due Period, (iii) the Excess Liquidation Proceeds with respect to such Mortgage Loan, (iv) the Loan Group and (v) the amount of the Realized Loss with respect to such Mortgage Loan; (xvi) the number and aggregate Scheduled Principal Balance of Mortgage Loans repurchased by the Seller pursuant to the Mortgage Loan Purchase Agreement for the related Payment Date and cumulatively since the Closing Date; (xvii) the number and aggregate Outstanding Principal Balance of all Mortgage Loans as to which the Mortgaged Property was REO Property as of the end of the related Due Period, determined in the aggregate and separately for each Loan Group; (xviii) the Note Rate for book value (the related Class sum of Notes for (A) the Outstanding Principal Balance of the Mortgage Loan, (B) accrued interest through the date of foreclosure and (C) foreclosure expenses) of any REO Property; provided that, in the event that such information is not available to the Securities Administrator on the Payment Date, such information shall be furnished promptly after it becomes available; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06Average Loss Severity Percentage; (xx) the amount number of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included the foreclosure process as of the end of the related Due Period and the aggregate Outstanding Principal Balance of such Mortgage Loans, determined in the paymentaggregate and separately for each Loan Group; (xxi) the amount of Overcollateralization Step-Down Amount any Interest Shortfalls less any Compensating Interest paid by the Servicer or Master Servicer to cover Interest Shortfalls for that Loan Group included in the paymentsuch Payment Date; (xxii) the Available Transferor Subordinated Amount aggregate Scheduled Principal Balance of Mortgage Loans purchased by the Servicer pursuant to Section 3.21 of the Sale and Servicing Agreement for that Loan Group the related Payment Date and cumulatively since the Payment Closing Date; and; (xxiii) the aggregate Scheduled Principal Balance of defaulted Mortgage Loans sold by the Servicer pursuant to Section 3.13 of the Sale and Servicing Agreement or Sections 4.03, 4.17 and 4.18 of the MortgageIT Servicing Agreement for the first related Payment Date, the number Date and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of cumulatively since the Closing Date. The amounts furnished pursuant ; (xxiv) the amount, if any, required to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any paid under either of the Noteholders, Yield Maintenance Agreement for such Payment Date; (xxv) the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing amount of any change in the address or means of access Net Swap Payment made to the internet website where Trust, any Net Swap Payment made to the Monthly Statement is accessibleSwap Provider, any Swap Termination Payment made to the Trust and any Swap Termination Payment made to the Swap Provider, in each case as set forth in Section 8.09. Within 60 days after the end In addition, by January 31 of each calendar yearyear following any year during which the Notes are outstanding, the Master Servicer Securities Administrator shall prepare and forward furnish a report to each Noteholder of record if so requested in writing at any time during each calendar year as to the Indenture Trustee the information in clauses aggregate of amounts reported pursuant to (iii) and (viiv) above aggregated with respect to the Notes for the such calendar year. This requirement of The Securities Administrator may conclusively rely upon the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements Section 3.01 of the CodeSale and Servicing Agreement, by the Swap Provider under the Swap Agreements and by the Yield Maintenance Provider under the Yield Maintenance Agreement in its preparation of monthly statements to Noteholders. The Indenture Trustee In addition, the Securities Administrator shall prepare (make available statements to Certificateholders on each Payment Date in a manner consistent accordance with the treatment Section 5.04 of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by lawTrust Agreement.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Groupinformation: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of NotesAmount; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss▇.▇.▇.▇▇. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Groupforeclosure; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Datepayment; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment payment Date; and (xxiii) for the first and second Payment DateDates, the number and Cut-off off- Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date or Subsequent Closing Date, as applicable. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ://▇▇▇▇▇ .▇▇▇ ▇.▇▇▇▇▇▇▇.▇e ▇▇. Assistance in using the Indenture Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇) ▇▇▇-▇▇▇▇▇ ▇▇▇▇fy . The Indenture Trustee shall notify each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with (a) Not later than each payment to Noteholders, Payment Date the Master Servicer Securities Administrator shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly StatementRemittance Report") for each Payment Date with containing the following information set forth below with respect to each Loan Groupsuch Payment Date, which information shall be based solely upon the loan level information furnished by the Servicer and the Master Servicer, as applicable, upon which the Securities Administrator shall conclusively rely without independent verification thereof: (i) the related Investor Floating Allocation Percentage Available Funds and the Note Rate for each Class for the preceding Collection Periodrelated Payment Date; (ii) the aggregate amount of the payment to be paid to the related each Class of NoteholdersNotes on such Payment Date; (iii) the amount of Note Interest in the payment related to each set forth in paragraph (ii) above in respect of interest, the amount thereof in respect of any Class of Notes Interest Carryover Shortfall, and the applicable Note Rateamount of any Class Interest Carryover Shortfall remaining and the amount thereof in respect of any Class N Interest Shortfall, and the amount of any Class N Interest Shortfall remaining; (iv) the amount of the payment set forth in paragraph (ii) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any related Unpaid Investor Interest Shortfall in the paymentremaining Class Principal Carryover Shortfall; (v) the amount of the remaining related Unpaid Investor Excess Interest Shortfall after giving effect to the paymentpaid as principal; (vi) the aggregate amount of principal in the payment, separately stating its componentsServicing Fee and the Master Servicing Fee for such Payment Date; (vii) the amount Pool Balance and the aggregate Principal Balance of the reimbursement Mortgage Loans in each Loan Group as of previous related Investor Loss Amounts in the paymentclose of business on the last day of the preceding Due Period; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Class Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related each Class of Notes after giving effect to the paymentpayments allocated to principal; (xiiiix) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Overcollateralization Amount for the related Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding Required Overcollateralization Amount as of the close of business on the Payment Date, after giving effect to payments of principal on such Payment Date; (xviiix) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the calculation thereof; (xi) the Note Rate for aggregate amount of Principal Prepayments received during the related Class Prepayment Period; (xii) the amount of Notes all Curtailments that were received during the Due Period; (xiii) the principal portion of all Monthly Payments received during the Due Period; (xiv) the interest portion of all Monthly Payments received on the Mortgage Loans during the Due Period; (xv) the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date; (xvi) the amount to be distributed to the Certificates for the Payment Date; (xvii) the weighted average remaining term to maturity of the Mortgage Loans and the weighted average Loan Rate as of the first day of the related Due Period; (xviii) the amount of all payments or reimbursements to the Servicer pursuant to Sections 3.03(ii) and (vi) of the Servicing Agreement (as reported by the Servicer); (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to outstanding at the Transferor pursuant to each beginning and at the end of Section 2.04 and Section 2.06the related Due Period; (xx) the amount of Subordinated Transferor Collections for Liquidation Loan Losses experienced during the Mortgage Loans in that Loan Group included in preceding Due Period and the paymentCumulative Net Losses as a percentage of the Cut-Off Date Pool Balance; (xxi) as of the amount end of Overcollateralization Stepthe preceding calendar month, the number and Principal Balance of Mortgage Loans which are 30-Down Amount for that Loan Group included 59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the paymentnumber and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth); (xxii) the Available Transferor Subordinated Amount amounts of Applied Realized Loss Amounts for that Loan Group the applicable Due Period and the Payment Datecumulative amount of Applied Realized Loss Amounts to date; (xxiii) the number and aggregate Principal Balance of Mortgage Loans, other than Mortgage Loans in default or imminent default, that were modified by the Servicer during the related Due Period (as reported by the Servicer); and (xxiiixxiv) for the first Payment Dateamount of Basis Risk Shortfall Amount paid to each Class of Group I Notes and the Class AF-1 Notes, stating separately any amounts received from the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered Cap Provider with respect to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii)Class AF-1 Interest Rate Cap Agreement, and the amount of Basis Risk Shortfall Amount remaining for each such Class. (viiib) above The Securities Administrator shall be expressed as a dollar amount per $1,000 increment of Notes. If make available such report to the Monthly Statement is not accessible to any of the NoteholdersServicer, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each NoteholderSeller, the Master ServicerNoteholders, the Credit EnhancerRating Agencies, Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: ▇▇▇▇ ▇▇▇▇▇▇) and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. AssiIntex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇e Trustee) on the Payment Date. The Securities Administrator may fully rely upon and shall have no liability with respect to information provided by the Servicer or the Master Servicer. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (vi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date. (c) The Securities Administrator will make the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Noteholders and the parties to this Indenture via the Securities Administrator's internet website. The Securities Administrator's internet website may shall initially be located at "▇▇▇.▇▇▇▇▇▇▇.▇▇▇". Assistance in using the website can be obtained by calling the Indenture TrusteeSecurities Administrator's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇) ▇▇▇-▇▇▇▇▇ ▇▇▇▇fy each Noteholder. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way Remittance Reports 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. As a condition to access the Securities Administrator's internet website, the Master Servicer, Securities Administrator may require registration and the Credit Enhancer, and each Rating Agency acceptance of a disclaimer. The Securities Administrator will not be liable for the dissemination of information in writing accordance with this Agreement. The Securities Administrator shall also be entitled to rely on but shall not be responsible for the content or accuracy of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by third parties for purposes of preparing the Master Servicer or a Paying Agent pursuant to Remittance Report and may affix thereto any requirements disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by lawparty hereto).

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Groupinformation: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class Classes of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance or Notional Balance of the related Class Classes of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Principal Amount Notes after giving effect to the payment; (xiii) the Loan Group Pool Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of NotesAmount; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Groupforeclosure; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xxxix) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxixx) the amount of Excess Overcollateralization Step-Down Amount for that Loan Group included in the paymentPayment Date; (xxiixxi) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and; (xxiiixxii) for the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date or Subsequent Closing Date, as applicable; (xxiii) the amount being paid to the Class R-1 Certificates; and (xxiv) the Net Draws and in the aggregate. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Groupinformation: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of NotesAmount; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Groupforeclosure; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the number and Cut-off off- Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfrhttps://www.abs.bankone.com. AssiAssistance in using the Indenture Trus▇▇▇'▇ ▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇ ▇▇e Trustee's internet website may ▇ be obtained by calling the Indenture Trustee's customer service desk at (877800) 722524-10959472. The Indenture TrusTrustee shall notify each Noteholder, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicerrvicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with (a) Not later than each payment to Noteholders, Payment Date the Master Servicer Securities Administrator shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement"“Remittance Report”) for each Payment Date with containing the following information set forth below with respect to each Loan Groupsuch Payment Date, which information shall be based solely upon the loan level information furnished by the Servicer and the Master Servicer, as applicable, upon which the Securities Administrator shall conclusively rely without independent verification thereof: (i) the related Investor Floating Allocation Percentage Available Funds and the Note Rate for each Class for the preceding Collection Periodrelated Payment Date; (ii) the aggregate amount of the payment to be paid to the related each Class of NoteholdersNotes on such Payment Date; (iii) the amount of Note Interest in the payment related to each set forth in paragraph (ii) above in respect of interest, the amount thereof in respect of any Class of Notes Interest Carryover Shortfall, and the applicable Note Rateamount of any Class Interest Carryover Shortfall remaining and the amount thereof in respect of any Class N Interest Shortfall, and the amount of any Class N Interest Shortfall remaining; (iv) the amount of the payment set forth in paragraph (ii) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any related Unpaid Investor Interest Shortfall in the paymentremaining Class Principal Carryover Shortfall; (v) the amount of the remaining related Unpaid Investor Excess Interest Shortfall after giving effect to the paymentpaid as principal; (vi) the aggregate amount of principal in the payment, separately stating its componentsServicing Fee and the Master Servicing Fee for such Payment Date; (vii) the amount Pool Balance and the aggregate Principal Balance of the reimbursement Mortgage Loans in each Loan Group as of previous related Investor Loss Amounts in the paymentclose of business on the last day of the preceding Due Period; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Class Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related each Class of Notes after giving effect to the paymentpayments allocated to principal; (xiiiix) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Overcollateralization Amount for the related Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding Required Overcollateralization Amount as of the close of business on the Payment Date, after giving effect to payments of principal on such Payment Date; (xviiix) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the calculation thereof; (xi) the Note Rate for aggregate amount of Principal Prepayments received during the related Class Prepayment Period; (xii) the amount of Notes all Curtailments that were received during the Due Period; (xiii) the principal portion of all Monthly Payments received during the Due Period; (xiv) the interest portion of all Monthly Payments received on the Mortgage Loans during the Due Period; (xv) the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date; (xvi) the amount to be distributed to the Certificates for the Payment Date; (xvii) the weighted average remaining term to maturity of the Mortgage Loans and the weighted average Loan Rate as of the first day of the related Due Period; (xviii) the amount of all payments or reimbursements to the Servicer pursuant to Sections 3.03(ii) and (vi) of the Servicing Agreement (as reported by the Servicer); (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to outstanding at the Transferor pursuant to each beginning and at the end of Section 2.04 and Section 2.06the related Due Period; (xx) the amount of Subordinated Transferor Collections for Liquidation Loan Losses experienced during the Mortgage Loans in that Loan Group included in preceding Due Period and the paymentCumulative Net Losses as a percentage of the Cut-Off Date Pool Balance; (xxi) as of the amount end of Overcollateralization Stepthe preceding calendar month, the number and Principal Balance of Mortgage Loans which are 30-Down Amount 59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth) (for that Loan Group included the avoidance of doubt, delinquencies in this clause (xxi) are measured in accordance with the paymentOTS method); (xxii) the Available Transferor Subordinated Amount amounts of Applied Realized Loss Amounts for that Loan Group the applicable Due Period and the cumulative amount of Applied Realized Loss Amounts to date; (xxiii) the number and aggregate Principal Balance of Mortgage Loans, other than Mortgage Loans in default or imminent default, that were modified by the Servicer during the related Due Period (as reported by the Servicer) (xxiv) the amount of Basis Risk Shortfall Amount paid to each Class of Group I Notes; (xxv) any amounts received from the Cap Provider with respect to the Class N Interest Rate Cap Agreement, and the amount of Basis Risk Shortfall Amount remaining for each such Class; (xxvi) whether a Stepdown Date or Trigger Event is in effect on such Payment Date; and (xxiiixxvii) the applicable Record Dates, Interest Accrual Periods and determination dates for the first calculating payments for such Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered . (b) The Securities Administrator shall make available such report to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the NoteholdersServicer, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each NoteholderSeller, the Master ServicerNoteholders, the Credit EnhancerRating Agencies, Bloomberg (at 4▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: M▇▇▇ ▇▇▇▇▇▇) and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. AssiIntex Solutions (at 3▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇, Attention: H▇▇▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's ) on the Payment Date. The Securities Administrator may fully rely upon and shall have no liability with respect to information provided by the Servicer or the Master Servicer. In the case of information furnished pursuant to subclauses (ii), (iii), (iv) and (vi) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date. (c) The Securities Administrator will make the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Noteholders and the parties to this Indenture via the Securities Administrator’s internet website. The Securities Administrator’s internet website may shall initially be located at “w▇▇.▇▇▇▇▇▇▇.▇▇▇”. Assistance in using the website can be obtained by calling the Indenture Trustee's Securities Administrator’s customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇) ▇▇▇-▇▇▇▇▇ ▇▇▇▇fy each Noteholder. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way Remittance Reports 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. As a condition to access the Securities Administrator’s internet website, the Master Servicer, Securities Administrator may require registration and the Credit Enhancer, and each Rating Agency acceptance of a disclaimer. The Securities Administrator will not be liable for the dissemination of information in writing accordance with this Agreement. The Securities Administrator shall also be entitled to rely on but shall not be responsible for the content or accuracy of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by third parties for purposes of preparing the Master Servicer or a Paying Agent pursuant to Remittance Report and may affix thereto any requirements disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by lawparty hereto).

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Groupinformation: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of NotesAmount; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Groupforeclosure; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the number and Cut-off off- Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfrhttps://www.abs.bankone.com. AssiAssistance in using the Indenture Tru▇▇▇▇'▇ ▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇ ▇▇e Trustee's internet website may ▇ be obtained by calling the Indenture Trustee's customer service desk at (877800) 722524-10959472. The Indenture TrusTrustee shall notify each Noteholder, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicerervicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with (a) With respect to each payment to NoteholdersPayment Date, the Master Servicer Securities Administrator shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly StatementRemittance Report") for each Payment Date with containing the following information set forth below with respect to each Loan Groupsuch Payment Date, which information shall be based solely upon the loan level information furnished by the Servicer and, if the Securities Administrator is not the Master Servicer, the Master Servicer, as applicable, upon which the Securities Administrator shall conclusively rely without independent verification thereof: (i) the related Investor Floating Allocation Percentage Available Funds and the Note Rate for each Class for the preceding Collection Periodrelated Payment Date; (ii) the aggregate amount of the payment to be paid to the related each Class of NoteholdersNotes on such Payment Date; (iii) the amount of Note Interest in the payment related to each set forth in paragraph (ii) above in respect of interest, the amount thereof in respect of any Class of Notes Interest Carryover Shortfall, and the applicable Note Rateamount of any Class Interest Carryover Shortfall remaining; (iv) the amount of the payment set forth in paragraph (ii) above in respect of principal and the amount thereof in respect of the Class Principal Carryover Shortfall, and any related Unpaid Investor Interest Shortfall in the paymentremaining Class Principal Carryover Shortfall; (v) the amount of the remaining related Unpaid Investor Excess Interest Shortfall after giving effect to the paymentpaid as principal; (vi) the aggregate amount of principal in the payment, separately stating its componentsServicing Fee and the Master Servicing Fee for such Payment Date; (vii) the amount Pool Balance and the aggregate Principal Balance of the reimbursement Mortgage Loans in each Loan Group as of previous related Investor Loss Amounts in the paymentclose of business on the last day of the preceding Due Period; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Class Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related each Class of Notes after giving effect to the paymentpayments allocated to principal; (xiiiix) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Overcollateralization Amount for the related Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding Required Overcollateralization Amount as of the close of business on the Payment Date, after giving effect to payments of principal on such Payment Date; (xviiix) whether a Cumulative Loss Event or a Delinquency Event has occurred and is continuing and the calculation thereof; (xi) the Note Rate for aggregate amount of Principal Prepayments received during the related Class Prepayment Period; (xii) the amount of Notes all Curtailments that were received during the Due Period; (xiii) the principal portion of all Monthly Payments received during the Due Period; (xiv) the interest portion of all Monthly Payments received on the Mortgage Loans during the Due Period; (xv) the amount of the Monthly Advances and the Compensating Interest payment to be made on the Determination Date; (xvi) the amount to be distributed to the Certificates for the Payment Date; (xvii) the weighted average remaining term to maturity of the Mortgage Loans and the weighted average Loan Rate as of the first day of the related Due Period; (xviii) the amount of all payments or reimbursements to the Servicer pursuant to Sections 3.03(ii) and (vi) of the Sale and Servicing Agreement (as reported by the Servicer); (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to outstanding at the Transferor pursuant to each beginning and at the end of Section 2.04 and Section 2.06the related Due Period; (xx) the amount of Subordinated Transferor Collections for Liquidation Loan Losses experienced during the Mortgage Loans in that Loan Group included in preceding Due Period and the paymentCumulative Net Losses as a percentage of the Cut-Off Date Pool Balance; (xxi) as of the amount end of Overcollateralization Stepthe preceding calendar month, the number and Principal Balance of Mortgage Loans which are 30-Down Amount 59 days delinquent; the number and Principal Balance of Mortgage Loans which are 60-89 days delinquent; the number and Principal Balance of Mortgage Loans which are 90 or more days delinquent (including the number and Principal Balance of Mortgage Loans which are in foreclosure; the number and Principal Balance of Mortgage Loans in bankruptcy; and the number and Principal Balance of Mortgage Loans which are REO Property, each separately set forth) (for that Loan Group included the avoidance of doubt, delinquencies in this clause (xxi) are measured in accordance with the paymentOTS method); (xxii) the Available Transferor Subordinated Amount amounts of Applied Realized Loss Amounts for that Loan Group the applicable Due Period and the cumulative amount of Applied Realized Loss Amounts to date; (xxiii) the number and aggregate Principal Balance of Mortgage Loans, other than Mortgage Loans in default or imminent default, that were modified by the Servicer during the related Due Period (as reported by the Servicer) (xxiv) the amount of Basis Risk Shortfall Amount paid to each Class of Group I Notes; (xxv) the amount of any Net Swap Payments or Swap Termination Payments; (xxvi) whether a Stepdown Date or Trigger Event is in effect on such Payment Date; and (xxiiixxvii) the applicable Record Dates, Interest Accrual Periods and determination dates for the first calculating payments for such Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered . (b) The Securities Administrator shall make available such report to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the NoteholdersServicer, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each NoteholderSeller, the Master ServicerNoteholders, the Credit EnhancerRating Agencies, Bloomberg (at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: ▇▇▇▇ ▇▇▇▇▇▇) and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. AssiIntex Solutions (at ▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇, Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇e Trustee) on the Payment Date. The Securities Administrator may fully rely upon and shall have no liability with respect to information provided by the Servicer or, if the Securities Administrator is not the Master Servicer, the Master Servicer. In the case of information furnished pursuant to subclauses (ii), (iii) and (iv) above, the amounts shall be expressed in a separate section of the report as a dollar amount for each Class for each $1,000 original dollar amount as of the related Cut-Off Date. (c) The Securities Administrator will make the Remittance Report (and, at its option, any additional files containing the same information in an alternative format) available each month to Noteholders and the parties to this Indenture via the Securities Administrator's internet website. The Securities Administrator's internet website may shall initially be located at "▇▇▇.▇▇▇▇▇▇▇.▇▇▇". Assistance in using the website can be obtained by calling the Indenture TrusteeSecurities Administrator's customer service desk at (877) 722▇-1095. The Indenture Trus▇▇▇ ▇-▇▇▇-▇▇▇▇▇ ▇▇▇▇fy each Noteholder. Parties that are unable to use the above distribution options are entitled to have a paper copy mailed to them via first class mail by calling the customer service desk and indicating such. The Securities Administrator shall have the right to change the way Remittance Reports 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. As a condition to access the Securities Administrator's internet website, the Master Servicer, Securities Administrator may require registration and the Credit Enhancer, and each Rating Agency acceptance of a disclaimer. The Securities Administrator will not be liable for the dissemination of information in writing accordance with this Agreement. The Securities Administrator shall also be entitled to rely on but shall not be responsible for the content or accuracy of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, information provided by third parties (other than the Master Servicer shall prepare and forward to the Indenture Trustee Custodian if such parties are the information same entity as the Securities Administrator) for purposes of preparing the Remittance Report and may affix thereto any disclaimer it deems appropriate in clauses its reasonable discretion (iii) and (vi) above aggregated for without suggesting liability on the calendar year. This requirement part of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by lawparty hereto).

Statements to Noteholders. Concurrently with On or prior to each payment to NoteholdersDetermination Date, the Master Servicer shall deliver provide to the Indenture Trustee Trust Collateral Agent (with a copy to the data necessary Rating Agencies) for the Trust Collateral Agent to prepare forward to each Noteholder of record, and to each Certificateholder of record, a statement (the "Monthly Statement") for each Payment Date with setting forth at least the following information with respect as to each Loan Groupthe Notes to the extent applicable: (i) the related Investor Floating Allocation Percentage for the preceding Collection Periodamount of such distribution allocable to principal of each Class of Notes; (ii) the aggregate amount of such distribution allocable to be paid interest on or with respect to the related each Class of NoteholdersNotes; (iii) the aggregate outstanding principal amount of Note Interest in the payment related to each Class of the Notes and the applicable Note Rateafter giving effect to payments allocated to principal reported under (i) above; (iv) the amount of any related Unpaid Investor Class A Interest Shortfall Carryover Shortfall, the Class B-1 Interest Carryover Shortfall, the Class B-2 Interest Carryover Shortfall, the Class C Interest Carryover Shortfall, the Class A Principal Carryover Shortfall, the Class A-5 Principal Carryover Shortfall, the Class B-1 Principal Carryover Shortfall, the Class B-2 Principal Carryover Shortfall, the Class C Principal Carryover Shortfall, if any, and the change in such amounts from the payment;preceding statement. (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect Base Servicing Fee paid to the paymentMaster Servicer with respect to such Collection Period; (vi) the notional amount of principal in the paymentInterest Rate Cap, separately stating its components;the amount of the distribution attributable to a payment under the Interest Rate Cap and the current LIBOR; and (vii) the Targeted Reserve Account Balance and the amount of the reimbursement of previous related Investor Loss Amounts on deposit in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of Reserve Account at the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. sssuch Distribution Date. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the Each amount of any optional advances on the Mortgage Loans in the related Loan Group set forth pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; paragraph (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), i)through (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of the initial principal balance of the applicable Class of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Group: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Notes; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the number and Cut-off Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. AssiAssistance in using the Indenture Tr▇▇▇▇▇▇ ▇'▇ ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇e Trustee's internet website may ▇ be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy Trustee shall notify each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with each payment to Noteholders, the Master Servicer shall deliver to the Indenture Trustee the data necessary to prepare a statement (the "Monthly Statement") for each Payment Date with the following information with respect to each Loan Groupinformation: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iii) the amount of Note Interest in the payment related to each Class of Notes and the applicable Note Rate; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (v) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect to the payment; (vi) the amount of principal in the payment, separately stating its components; (vii) the amount of the reimbursement of previous related Investor Loss Amounts in the payment; (viii) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of NotesAmount; (xv) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Groupforeclosure; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date; (xviii) the Note Rate for the related Class of Notes for the Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the number and Cut-off off- Date Asset Balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing Date. The amounts furnished pursuant to clauses (ii), (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If the Monthly Statement is not accessible to any of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. AssiAss▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e re Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877800) 722524-10959472. The Indenture TrusTru▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy ify each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by law.

Statements to Noteholders. Concurrently with (i) On each payment to NoteholdersDetermination Date preceding a Quarterly Payment Date, the Master Servicer Administrator shall deliver provide to the Indenture Trustee and any Swap Counterparties (with a copy to the data necessary Rating Agencies) for the Indenture Trustee to prepare forward on such succeeding Quarterly Payment Date to each Noteholder of record a statement (substantially in the "Monthly Statement") for each Payment Date with form of Exhibit B setting forth at least the following information with respect as to each Loan Groupthe Notes: (i) the related Investor Floating Allocation Percentage for the preceding Collection Period; (ii) the aggregate amount to be paid to the related Class of Noteholders; (iiiA) the amount of Note Interest in such distribution allocable to principal of the payment related to each Notes, the amount thereof distributable as principal of the Class of A-1 Notes, the Class A-2 Notes and the applicable Note RateSubordinate Notes, and the amount thereof attributable to the Principal Distribution Amount and the amount thereof attributable to Reserve Account Excess; (iv) the amount of any related Unpaid Investor Interest Shortfall in the payment; (vB) the amount of the remaining related Unpaid Investor Interest Shortfall after giving effect distribution allocable on such Quarterly Payment Date to interest on the paymentClass A-1 Notes; (vi) the amount of principal in the payment, separately stating its components; (viiC) the amount of the reimbursement of previous related Investor Loss Amounts in distribution allocable on such Quarterly Payment Date to interest on the paymentClass A-2 Notes; (viiiD) the amount of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the payment; (ix) the amount of any related Basis Risk Carryforward in the payment; (x) the amount of the remaining related Basis Risk Carryforward after giving effect to the payment; (xi) the Servicing Fee for the Payment Date; (xii) the Note Principal Balance of the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of the related Class of Notes for the distribution allocable on such Quarterly Payment Date by to interest on the Original Note Principal Balance of the related Class of Notes after giving effect to the payment; (xiii) the Loan Group Balance as of the end of the preceding Collection Period; (xiv) any Credit Enhancement Draw Amount for the related Class of Subordinate Notes; (xvE) the number and aggregate Asset Balances of Mortgage Loans in the related Loan Group as to which the Minimum Monthly Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection Period; (xvi) the book value (within the meaning of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan Group; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding Pool Balance as of the close of business on the last day of the preceding Collection Period, after giving effect to payments allocated to principal reported under clause (A) above; (F) the aggregate outstanding principal amount of the Class A-1 Notes, the Class A-2 Notes, the Subordinate Notes, the Class A-1 Note Pool Factor, the Class A-2 Note Pool Factor and the Subordinate Note Pool Factor as of such Quarterly Payment Date, after giving effect to payments allocated to principal reported under clause (A) above; (G) the Note Rate applicable with respect to each distribution referred to in clauses (B), (C) and (D) above; (H) the amount of the Servicing Fee paid to the Servicer on such Quarterly Payment Date and on each Monthly Payment Date following the immediately preceding Quarterly Payment Date including a breakdown of the components of the Servicing Fee attributable to each of the items specified in Section 3.06 of the Servicing Agreement and for each Monthly Payment Date following the immediately preceding Quarterly Payment Date; (xviiiI) the Note Rate for amount of the related Class of Notes for Administration Fee paid to the Administrator on such Quarterly Payment Date; (xixJ) the Trust Swap Payment Amount paid to any Swap Counterparties on such Quarterly Payment Date, the amount of any Net Trust Swap Payment Carryover Shortfall for such Quarterly Payment Date, the Trust Swap Receipt Amounts, if any paid to the Trust on such Quarterly Payment Date and the amount of any Net Trust Swap Receipt Carryover Shortfall for such Quarterly Payment Date; (K) the amount of the aggregate Realized Losses, if any, for such Collection Period and the balance of Financed Student Loans that are delinquent in each delinquency period as of the end of such Collection Period; (L) the balance of the Reserve Account on such Quarterly Payment Date, after giving effect to changes therein on such Quarterly Payment Date and indicating whether on such Quarterly Payment Date or any Monthly Payment Date since the preceding Quarterly Payment Date any withdrawal was made therefrom pursuant to Section 2(e)(iv), the amount of each such withdrawal and the purpose(s) pursuant to Section 2(e)(iv) for each such withdrawal; (M) For Quarterly Payment Dates during the Funding Period, the amount on deposit in the Prefunding Account and indicating whether on such Quarterly Payment Date or any Monthly Payment Date since the preceding Quarterly Payment Date any withdrawal was made therefrom pursuant to Section 2(k)(ii), the amount of each such withdrawal and the purposes pursuant to Section 2(k)(ii) for each such withdrawal; (N) for Quarterly Payment Dates during the Funding Period, the amount deposited into the Prefunding Account during the related Collection Period and on the immediately preceding Quarterly Payment Date, and the amount on deposit therein after giving effect to changes therein on such Quarterly Payment Date; (O) for the Quarterly Payment Date on or immediately following the end of the Funding Period, the amount remaining on deposit in the Prefunding Account that has not been used to make Additional Fundings; (i) the principal balance and number of Consolidation Loans originated on behalf of the Issuer during the related Collection Period, (ii) the principal balance and number of Add-on Consolidation Loans the principal balances of which have been added to the Trust during the related Collection Period and (iii) the amount withdrawn from the Prefunding Account to prepay Student Loans not held by the Issuer that were consolidated through such origination (or addition, in the case of Add-on Consolidation Loans) with one or more Financed Student Loans during such Collection Period; (Q) the principal balance and number of Serial Loans conveyed to the Issuer during the related Collection Period, the aggregate Loan Purchase Amounts thereof; and (R) the number and principal balances balance of any Mortgage Financed Student Loans, as of the end of the related Collection Period, that are In-School, Grace, Repayment, Deferral, Forbearance or Consolidation Loans in that Loan Group retransferred to as of the Transferor pursuant to each end of Section 2.04 the related Collection Period, and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, the a breakdown by number and Cut-off Date Asset Balance principal balance of Mortgage Loans in that Loan Group for which the Mortgage Loan File was not delivered to the Indenture Trustee within 30 days of the Closing DateFinanced Student Loans, by school type, interest rate and loan program. The amounts furnished Each amount set forth pursuant to clauses (iiA), (iii) (for Note InterestB), (iv), (v), (vi), (vii), C) and (viiiD) above shall be expressed as a dollar amount per $1,000 increment of Notesoriginal principal amount of a Note. If the Monthly Statement is not accessible to any A copy of the Noteholders, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it statements referred to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet website. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's internet website above may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward Note Owner by a written request to the Indenture Trustee addressed to the information in clauses (iii) and (vi) above aggregated for the calendar year. This requirement of the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to any requirements of the Code. The Indenture Trustee shall prepare (in a manner consistent with the treatment of the Notes as indebtedness of the Transferor, or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) and any other tax forms required to be filed or furnished to Noteholders for payments by the Indenture Trustee (or the Paying Agent) on the Notes and shall file and distribute such forms as required by lawCorporate Trust Office.

Statements to Noteholders. Concurrently with (a) With respect to each payment Payment Date and based solely on information provided to Noteholdersit by the Seller (if applicable), the Master Servicer shall deliver to and the Issuer, the Indenture Trustee shall prepare and make available via the data necessary Indenture Trustee’s website, initially located at ▇▇▇▇▇▇.▇▇▇/▇▇▇, to prepare each Noteholder, the Issuer, the Indenture Trustee and the Depositor a statement (the "Monthly Statement") for each Payment Date with setting forth the following information with respect for such Payment Date as to each Loan Groupthe Notes, to the extent applicable: (i) the related Investor Floating Allocation Percentage for the preceding Collection Periodamount of Available Funds; (ii) the aggregate amount to be paid to the related Class of Noteholderseach Available Funds Cap; (iii) the amount of Note Interest in the payment related to Payment Amount for each Class of Notes and the applicable Note RateNotes; (iv) the amount Cap Carryover for each Class of any related Unpaid Investor Interest Shortfall in the paymentNotes, if any; (v) the amount Note Rate for each Class of the remaining related Unpaid Investor Interest Shortfall after giving effect to the paymentNotes; (vi) the amount Note Amount for each Class of principal in Notes after the payment, separately stating its componentspayment of Available Funds; (vii) the amount of Servicing Advances made and reimbursed during the reimbursement related Collection Period and the amount of previous Servicing Advances outstanding at the end of the related Investor Loss Amounts in the paymentCollection Period; (viii) information regarding delinquencies (using the amount MBA methodology), foreclosures and bankruptcies during the related Collection Period and since the Cut-off Date, by number of the aggregate of unreimbursed related Investor Loss Reduction Amounts after giving effect to the paymentMortgage Loan and Unpaid Principal Balance; (ix) information regarding the amount number of any REO Properties and the aggregate Unpaid Principal Balance of the Mortgage Loans as to which such REO Properties were created, during the related Basis Risk Carryforward in Collection Period, and since the paymentCut-off Date; (x) the amount of the remaining related Basis Risk Carryforward after giving effect aggregate Realized Losses with respect to the paymentrelated Payment Date and cumulative Realized Losses since the Closing Date; (xi) the Servicing Fee for number and aggregate Unpaid Principal Balance of Mortgage Loans or REO Properties repurchased during the Payment Daterelated Collection Period and cumulatively since the Cut-off Date by the Seller; (xii) the Note number and aggregate Unpaid Principal Balance of Mortgage Loans sold by the Taxable REIT Subsidiary and the related Class of Notes and the factor to seven decimal places obtained by dividing the Note Principal Balance of Net Loan Sale Proceeds, both during the related Class of Notes for Collection Period and cumulatively since the Payment Date by the Original Note Principal Balance of the related Class of Notes after giving effect to the paymentCut-off Date; (xiii) with respect to Mortgage Loans that were subject to a modification during the Loan Group Balance as of the end of the preceding related Collection Period: (A) the Mortgage Loan identifying number; (B) the Unpaid Principal Balance prior to and after modification; (C) the monthly payment prior to and after modification; (D) the Mortgage Interest Rate prior to and after modification; and (E) the maturity date prior to and after modification; (xiv) any Credit Enhancement Draw Amount for the amounts and applicable transaction party indemnification payments and transaction expenses paid from the Trust Estate during the related Class of NotesCollection Period; (xv) the number and aggregate Asset Balances of Mortgage Loans amount remaining in the related Loan Group as to which Reserve Account after all payments on such Payment Date and the Minimum Monthly Reserve Account Required Amount recalculated after all payments on such Payment is delinquent for 30-59 days, 60-89 days, and 90 or more days, respectively, as of the end of the preceding Collection PeriodDate; (xvi) the book value (within amount, if any, remitted to the meaning holder of 12 C.F.R. ss. 571.13 or comparable provision) of any real estate acquired through foreclosure or grant of a deed in lieu of foreclosure for the related Loan GroupIssuer Membership Certificate from the Reserve Account on such Payment Date; (xvii) the amount of any optional advances on the Mortgage Loans in the related Loan Group pursuant to Section 4.03 by the Master Servicer included in the payment on the Payment Date Initial Debt Enhancement Percentage and the aggregate amount of optional advances pursuant to Section 4.03 on Mortgage Loans in the related Loan Group by the Master Servicer outstanding as of the close of business on the Payment Date;Debt Enhancement Percentage; and (xviii) the Note Rate for amount, if any, remitted to the related Class holder of Notes for the Issuer Membership Certificate on such Payment Date; (xix) the number and principal balances of any Mortgage Loans in that Loan Group retransferred . Solely with respect to the Transferor pursuant to each of Section 2.04 and Section 2.06; (xx) the amount of Subordinated Transferor Collections for the Mortgage Loans in that Loan Group included in the payment; (xxi) the amount of Overcollateralization Step-Down Amount for that Loan Group included in the payment; (xxii) the Available Transferor Subordinated Amount for that Loan Group and the Payment Date; and (xxiii) for the first Payment Date, if the number and Cut-off Date Asset Balance percentage of Mortgage Loans in that Loan Group for which any Class of Notes or the Mortgage Loan File was not delivered to Issuer Membership Certificate retained by the Indenture Trustee within 30 days Seller or a majority owned affiliate of the Seller on the Closing Date. The amounts furnished pursuant to clauses (ii)Date is materially different than the Required Credit Risk, (iii) (for Note Interest), (iv), (v), (vi), (vii), and (viii) above shall be expressed as a dollar amount per $1,000 increment of Notes. If statement from the Monthly Statement is not accessible to any Seller setting forth the percentage retained by the Seller or a majority owned affiliate of the NoteholdersSeller for each Class of Notes and the Issuer Membership Certificate, the Master Servicer, the Credit Enhancer, or either Rating Agency on the Indenture Trustee's internet website, the Indenture Trustee shall forward a hard copy of it to each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency immediately after the Indenture Trustee becomes aware that the Monthly Statement is not accessible to any of them via the Indenture Trustee's internet websiteas applicable. The address of the Indenture Trustee's internet website where the Monthly Statement will be accessible is https://www.jpmorgan.com/sfr. Assi▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇e Trustee's internet website may be obtained by calling the Indenture Trustee's customer service desk at (877) 722-1095. The Indenture Trus▇▇▇ ▇▇▇▇▇ ▇▇▇▇fy each Noteholder, the Master Servicer, the Credit Enhancer, and each Rating Agency in writing of any change in the address or means of access to the internet website where the Monthly Statement is accessible. Within 60 days after the end of each calendar year, the Master Servicer shall prepare and forward to the Indenture Trustee the information in clauses Items (iii) and (vi) above aggregated shall be presented on the basis of a Note having a $1,000 denomination. In addition, by January 31 of each calendar year following any year during which the Notes are outstanding, the Indenture Trustee shall furnish a report to each Noteholder of record if so requested in writing at any time during each calendar year as to the aggregate of amounts reported pursuant to (iii) and (vi) with respect to the Notes for the such calendar year. This requirement of The Indenture Trustee may conclusively rely upon the Master Servicer shall be satisfied if substantially comparable information is provided by the Master Servicer or a Paying Agent pursuant to the Indenture Trustee in accordance with Section 3.15 of the Servicing Agreement in its preparation of monthly statements to Noteholders. The Indenture Trustee will make the monthly statements provided for in this section (and, at its option, any additional files containing the same information in an alternative format) available each month via the Indenture Trustee’s website to Noteholders that provide appropriate certification in the form furnished by the Indenture Trustee (which form may be furnished and submitted electronically via the Indenture Trustee’s internet website), to any requirements designee of the CodeIssuer, and to the Issuer and the Depositor. The Indenture Trustee’s website shall initially be located at “▇▇▇.▇▇▇▇▇▇.▇▇▇/▇▇▇.” Assistance in using the website can be obtained by calling the Indenture Trustee’s customer service desk at (▇▇▇) ▇▇▇-▇▇▇▇. Parties that are unable to use the website are entitled to have a paper copy mailed to them via first class mail by calling the Indenture Trustee’s customer service desk and requesting a copy. The Indenture Trustee shall prepare (have the right to change the way the monthly statements are distributed in a manner consistent with order to make such distribution more convenient and/or more accessible to the treatment of above parties and the Notes as indebtedness of Indenture Trustee shall provide timely and adequate notification to all above parties regarding any such changes. In addition, the TransferorIndenture Trustee shall make the monthly statements provided for in this section available to Intex Solutions, Inc. in electronic or as may be otherwise required by Section 3.14) Internal Revenue Service Form 1099 (or any successor form) such other format and any other tax forms required to be filed or furnished to Noteholders for payments media mutually agreed upon by the Indenture Trustee and Intex Solutions, Inc. The Indenture Trustee shall be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the monthly statement, and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (or the Paying Agent) without suggesting liability on the Notes and shall file and distribute such forms as required by lawpart of any other party hereto).