2005-RS3 Pooling & Servicing Agreement - [PDF Document] (2024)

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RAMP Series 2005RS3 Trust8400 NORMANDALE LAKE BLVDSUITE600MINNEAPOLIS, MN 55437

952 8577000

EX10EX 10.1 POOLING AND SERVICING AGREEMENT

8K Filed on 04/15/2005 Period: 04/14/2005

File Number 33311723224

LIVEDGAR

Information Provided by Thomson Reuters Westlaw, 2011. AllRights Reserved.800.669.1154

www.gsionline.com

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RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC.,

Depositor,

RESIDENTIAL FUNDING CORPORATION,

Master Servicer,

and

JPMORGAN CHASE BANK, n.a.

Trustee

POOLING AND SERVICING AGREEMENT

DATED AS Of March 1, 2005

Mortgage Asset-Backed Pass-Through Certificates

Series 2005-RS3

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TABLE OF CONTENTS

Page

ARTICLE IDEFINITIONS........................................................................8

Section 1.01.Definitions.................................................................8Accrued CertificateInterest............................................................8Adjusted MortgageRate..................................................................8AdjustmentDate.........................................................................8Advance.................................................................................9Affiliate...............................................................................9Agreement...............................................................................9Amount Held for FutureDistribution.....................................................9AppraisedValue.........................................................................9Assignment..............................................................................9AssignmentAgreement....................................................................9Available DistributionAmount..........................................................10BankruptcyCode........................................................................10Book-EntryCertificate.................................................................10BusinessDay...........................................................................10CallRights............................................................................10Capitalization Reimbursem*ntAmount....................................................10

CashLiquidation.......................................................................10Certificate............................................................................10CertificateAccount....................................................................10Certificate Account DepositDate.......................................................11Certificateholder orHolder............................................................11CertificateOwner......................................................................11Certificate PrincipalBalance..........................................................11Certificate Register and CertificateRegistrar.........................................12Class..................................................................................12Class ACertificate....................................................................12Class A-I Interest DistributionAmount.................................................12 Class AMargin.........................................................................12Class A Principal DistributionAmount..................................................12 ClassA-I Basis RiskShortfall.........................................................13Class A-I Basis Risk Shortfall Carry-ForwardAmount....................................13 Class A-ICertificate..................................................................13Class A-I Principal DistributionAmount................................................13 Class A-IACertificate.................................................................13

Class A-IBCertificate.................................................................13Class A-I-A Principal DistributionAmount..............................................14 Class A-I-BPrincipal DistributionAmount..............................................14 Class A-I-A1Certificate...............................................................14

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Class A-I-A2Certificate...............................................................14Class A-I-A3Certificate...............................................................14Class A-I-B1Certificate...............................................................14Class A-I-B2Certificate...............................................................15Class A-IICertificate.................................................................15Class A-II Interest DistributionAmount................................................15 Class A-IIPrincipal DistributionAmount...............................................15 Class BBasis RiskShortfall...........................................................15Class B Basis Risk Shortfall Carry-ForwardAmount......................................15 Class BCertificate....................................................................16Class BMargin.........................................................................16

Class B-1Certificate..................................................................16Class B-1 Interest DistributionAmount.................................................16 Class B-1Principal DistributionAmount................................................16 Class B-2Certificate..................................................................17Class B-2 Interest DistributionAmount.................................................17 Class B-2Principal DistributionAmount................................................17 Class B-3Certificate..................................................................18Class B-3 Interest DistributionAmount.................................................18 Class B-3Principal DistributionAmount................................................18 Class IODistributionAmount...........................................................19Class IOInterest......................................................................19Class MCertificate....................................................................19Class M-1Certificate..................................................................19Class M-1 Interest DistributionAmount.................................................19 Class M-1Principal DistributionAmount................................................20 Class M-2Certificate..................................................................20Class M-2 Interest DistributionAmount.................................................20 Class M-2Principal DistributionAmount................................................20

Class M-3Certificate..................................................................21Class M-3 Interest DistributionAmount.................................................21 Class M-3Principal DistributionAmount................................................21 Class M-4Certificate..................................................................22Class M-4 Interest DistributionAmount.................................................22 Class M-4Principal DistributionAmount................................................23 Class M-5Certificate..................................................................23Class M-5 Interest DistributionAmount.................................................23 Class M-5Principal DistributionAmount................................................23 Class M-6Certificate..................................................................24Class M-6 Interest DistributionAmount.................................................24 Class M-6Principal DistributionAmount................................................24 Class M-7Certificate..................................................................25Class M-7 Interest DistributionAmount.................................................25 Class M-7Principal DistributionAmount................................................25 Class M-8Certificate..................................................................26Class M-8 Interest DistributionAmount.................................................26

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Class M-8 Principal DistributionAmount................................................26 Class M-9Certificate..................................................................27Class M-9 Interest DistributionAmount.................................................27 Class M-9Principal DistributionAmount................................................27 Class MBasis RiskShortfall...........................................................28Class M Basis Risk Shortfall Carry-ForwardAmount......................................28 Class MMargin.........................................................................28Class RCertificate....................................................................29Class R-ICertificate..................................................................29Class R-IICertificate.................................................................29Class R-IIICertificate................................................................29

Class R-IVCertificate.................................................................29Class R-VCertificate..................................................................29Class SBCertificates..................................................................29Class SBInterest......................................................................30ClosingDate...........................................................................30Code...................................................................................30Commission.............................................................................30Corporate TrustOffice.................................................................30CorrespondingClass....................................................................30CreditRepository......................................................................30Curtailment............................................................................30CustodialAccount......................................................................30CustodialAgreement....................................................................30Custodian..............................................................................30Cut-offDate...........................................................................30Cut-off DateBalance...................................................................30Cut-off Date PrincipalBalance.........................................................30Debt ServiceReduction.................................................................31

DeficientValuation....................................................................31DefinitiveCertificate.................................................................31Deleted MortgageLoan..................................................................31Delinquent.............................................................................31Depository.............................................................................31DepositoryParticipant.................................................................31DerivativeContract....................................................................31DerivativeCounterparty................................................................31Destroyed MortgageNote................................................................32DeterminationDate.....................................................................32DisqualifiedOrganization..............................................................32DistributionDate......................................................................32DueDate...............................................................................32DuePeriod.............................................................................32EligibleAccount.......................................................................32Eligible Master ServicingCompensation.................................................33ERISA..................................................................................33Event ofDefault.......................................................................33Excess CashFlow.......................................................................33

Excess OvercollateralizationAmount....................................................33ExchangeAct...........................................................................33

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FannieMae.............................................................................33FASIT..................................................................................33FDIC...................................................................................34FHA....................................................................................34FinalCertification....................................................................34Final DistributionDate................................................................34Final Scheduled DistributionDate......................................................34Fitch..................................................................................34Fixed SwapPayment.....................................................................34Floating SwapPayment..................................................................34ForeclosureProfits....................................................................34

FreddieMac............................................................................35GrossMargin...........................................................................35Group IALoans.........................................................................35Group IBLoans.........................................................................35Group I MarkerRate....................................................................35Group I Net WAC CapRate...............................................................35Group IILoans.........................................................................36Group II MarkerRate...................................................................36Group II Net WAC CapRate..............................................................36Independent............................................................................36Index..................................................................................36Initial Certificate PrincipalBalance..................................................36InsuranceProceeds.....................................................................36Interest AccrualPeriod................................................................36Interest DistributionAmount...........................................................37InterimCertification..................................................................37InterestedPerson......................................................................37LateCollections.......................................................................37

LIBOR..................................................................................37LIBOR BusinessDay.....................................................................37LIBOR Rate AdjustmentDate.............................................................37Limited Repurchase RightHolder........................................................37LiquidationProceeds...................................................................37Loan-to-ValueRatio....................................................................37MaturityDate..........................................................................37Maximum Mortgage LoanRate.............................................................38Maximum MortgageRate..................................................................38Maximum Net MortgageRate..............................................................38MERS...................................................................................38MERS(R)System...........................................................................38MIN....................................................................................38Minimum MortgageRate..................................................................38Modified MortgageLoan.................................................................38Modified MortgageRate.................................................................38Modified Net MortgageRate.............................................................38MOMLoan...............................................................................38

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MonthlyPayment........................................................................38Moody's................................................................................39Mortgage...............................................................................39MortgageFile..........................................................................39Mortgage LoanSchedule.................................................................39MortgageLoans.........................................................................40MortgageNote..........................................................................40MortgageRate..........................................................................40MortgagedProperty.....................................................................40Mortgagor..............................................................................41Net MortgageRate......................................................................41

Non-Primary ResidenceLoans............................................................41Non-United StatesPerson...............................................................41NonrecoverableAdvance.................................................................41Nonsubserviced MortgageLoan...........................................................41NoteMargin............................................................................41Notice.................................................................................41Officers'Certificate..................................................................42Opinion ofCounsel.....................................................................42Optional TerminationDate..............................................................42Outstanding MortgageLoan..............................................................42OvercollateralizationAmount...........................................................42OvercollateralizationFloor............................................................42Overcollateralization IncreaseAmount..................................................42Overcollateralization ReductionAmount.................................................42 OwnershipInterest.....................................................................42Pass-ThroughRate......................................................................42PayingAgent...........................................................................43PercentageInterest....................................................................43

PeriodicCap...........................................................................43PermittedInvestments..................................................................43PermittedTransferee...................................................................45Person.................................................................................45Pool Stated PrincipalBalance..........................................................45PrepaymentAssumption..................................................................45Prepayment InterestShortfall..........................................................45PrepaymentPeriod......................................................................45Primary InsurancePolicy...............................................................45Principal AllocationAmount............................................................46Principal DistributionAmount..........................................................46PrincipalPrepayment...................................................................47Principal Prepayment inFull...........................................................47Principal RemittanceAmount............................................................47

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ProgramGuide..........................................................................47PurchasePrice.........................................................................47QualifiedInsurer......................................................................47Qualified Substitute MortgageLoan.....................................................48 RatingAgency..........................................................................48RealizedLoss..........................................................................48RecordDate............................................................................49RegularCertificates...................................................................49RegularInterest.......................................................................49ReliefAct.............................................................................49Relief ActShortfalls..................................................................49

REMIC..................................................................................49REMICAdministrator....................................................................49REMICI................................................................................49REMIC RegularInterests................................................................50REMIC I RegularInterests..............................................................50REMIC I Regular InterestA-I...........................................................50REMIC I Regular InterestA-II..........................................................50REMIC II Group I Interest Loss AllocationAmount.......................................50 REMIC II Group IIInterest Loss AllocationAmount......................................50 REMIC II Group IOvercollateralizedAmount.............................................50 REMIC IIGroup II OvercollateralizedAmount............................................51 REMIC II GroupI Principal Loss AllocationAmount......................................51 REMIC II Group IIPrincipal Loss AllocationAmount.....................................51 REMIC II Group IRegularInterests.....................................................51REMIC II Group II RegularInterests....................................................51REMIC II Required OvercollateralizationAmount.........................................51 REMIC II RegularInterests.............................................................51REMIC II Regular InterestI-AA.........................................................52

REMIC II Regular InterestA-I-1........................................................52REMIC II Regular InterestA-I-2........................................................52REMIC II Regular InterestA-I-A3.......................................................52REMIC II Regular InterestA-I-B1.......................................................52REMIC II Regular InterestA-I-B2.......................................................52REMIC II Regular InterestM-1..........................................................52REMIC II Regular InterestM-2..........................................................52REMIC II Regular InterestM-3..........................................................52REMIC II Regular InterestM-4..........................................................53REMIC II Regular InterestM-5..........................................................53REMIC II Regular InterestM-6..........................................................53REMIC II Regular InterestM-7..........................................................53REMIC II Regular InterestM-8..........................................................53REMIC II Regular InterestM-9..........................................................53REMIC II Regular InterestB-1..........................................................53REMIC II Regular InterestB-2..........................................................54REMIC II Regular InterestB-3..........................................................54REMIC II Regular InterestI-ZZ.........................................................54REMIC II Regular InterestI-AA.........................................................54

REMIC II Regular InterestI-IO.........................................................54

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REMIC I Regular InterestA-II..........................................................54REMIC I Regular InterestII-ZZ.........................................................54REMIC II Regular Interest I-ZZ Maximum Interest DeferralAmount........................54 REMIC II Regular Interest II-ZZMaximum Interest Deferral Amount.......................55 REMICIII..............................................................................55REMIC IIICertificate..................................................................55REMIC IIICertificateholder............................................................55REMIC III RegularInterest.............................................................55REMICIV...............................................................................55REMIC IVCertificate...................................................................55REMICV................................................................................55

REMIC VInterests......................................................................55REMICProvisions.......................................................................55REOAcquisition........................................................................55REODisposition........................................................................55REO ImputedInterest...................................................................56REOProceeds...........................................................................56REOProperty...........................................................................56Reportable Modified MortgageLoan......................................................56RepurchaseEvent.......................................................................56Request forRelease....................................................................56Required InsurancePolicy..............................................................56Required OvercollateralizationAmount..................................................56 ReserveFund...........................................................................56Reserve FundDeposit...................................................................56Reserve Fund ResidualRight............................................................56ResidentialFunding....................................................................57ResponsibleOfficer....................................................................57Senior EnhancementPercentage..........................................................57

Sequential TriggerEvent...............................................................57ServicingAccounts.....................................................................57ServicingAdvances.....................................................................57ServicingFee..........................................................................57Servicing FeeRate.....................................................................57ServicingModification.................................................................58ServicingOfficer......................................................................58Sixty-Plus DelinquencyPercentage......................................................58Standard &Poor's......................................................................58StartupDate...........................................................................58

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Stated PrincipalBalance...............................................................58StepdownDate..........................................................................58Sub-Group..............................................................................58Subordination..........................................................................59SubordinationPercentage...............................................................59SubsequentRecoveries..................................................................59Subserviced MortgageLoan..............................................................59Subservicer............................................................................59SubservicerAdvance....................................................................59SubservicingAccount...................................................................59SubservicingAgreement.................................................................59

SubservicingFee.......................................................................59Subservicing FeeRate..................................................................60Swap Agreement NotionalBalance........................................................60Swap Agreement PurchasePrice..........................................................60TaxReturns............................................................................60Transfer...............................................................................61Transferee.............................................................................61Transferor.............................................................................61TriggerEvent..........................................................................61TrustFund.............................................................................61Uniform Single Attestation Program for MortgageBankers................................61 Uncertificated NotionalAmount.........................................................61Uncertificated Pass-ThroughRate.......................................................63Uncertificated PrincipalBalance.......................................................63Uncertificated REMIC I Pass-ThroughRate...............................................63Uncertificated REMIC II Pass-ThroughRate..............................................63 UninsuredCause........................................................................66United StatesPerson...................................................................66

VA.....................................................................................66VotingRights..........................................................................66Section 1.02. Determination ofLIBOR.....................................................67

ARTICLE II CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OFCERTIFICATES..................69

Section 2.01. Conveyance of MortgageLoans...............................................69 Section2.02. Acceptance byTrustee......................................................72Section 2.03. Representations, Warranties and Covenants of theMaster Servicer and the Depositor. 74 Section 2.04. Representationsand Warranties of Residential Funding......................76Section 2.05. Execution and Authentication of Certificates;Conveyance of REMIC Regular Interests. 78

ARTICLE III ADMINISTRATION AND SERVICING OF MORTGAGELOANS..................................80

Section 3.01. Master Servicer to Act asServicer.........................................80 Section 3.02.Subservicing Agreements Between Master Servicer and Subservicers;Enforcement of Subservicers'Obligations..................................................81

Section 3.03. SuccessorSubservicers.....................................................82Section 3.04. Liability of the MasterServicer...........................................83

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Section 3.05. No Contractual Relationship Between Subservicerand Trustee or Certificateholders. 83 Section 3.06. Assumption orTermination of Subservicing Agreements by Trustee............83Section 3.07. Collection of Certain Mortgage Loan Payments;Deposits to Custodial Account.84 Section 3.08. SubservicingAccounts; Servicing Accounts..................................86Section 3.09. Access to Certain Documentation and InformationRegarding the Mortgage Loans. 88 Section 3.10. PermittedWithdrawals from the Custodial Account...........................88Section 3.11. Maintenance of Primary InsuranceCoverage..................................90 Section 3.12.Maintenance of Fire Insurance and Omissions and FidelityCoverage..........91 Section 3.13. Enforcement of Due-on-SaleClauses; Assumption and Modification Agreements; Certain

Assignments................................................................92Section 3.14. Realization Upon Defaulted MortgageLoans..................................94 Section 3.15. Trustee toCooperate; Release of Mortgage Files............................96Section 3.16. Servicing and Other Compensation; Eligible MasterServicing Compensation...98 Section 3.17. Reports to the Trusteeand the Depositor...................................99 Section3.18. Annual Statement as toCompliance..........................................99 Section3.19. Annual Independent Public Accountants' ServicingReport....................99 Section 3.20. Right of the Depositorin Respect of the Master Servicer..................100 Section3.21. AdvanceFacility..........................................................100

ARTICLE IV PAYMENTS TOCERTIFICATEHOLDERS..................................................105

Section 4.01. CertificateAccount.......................................................105Section 4.02.Distributions.............................................................105Section 4.03. Statements to Certificateholders; Statements toRating Agencies; Exchange ActReporting.................................................................116Section 4.04. Distribution of Reports to the Trustee and theDepositor; Advances by the MasterServicer..................................................................119

Section 4.05. Allocation of RealizedLosses.............................................120 Section4.06. Reports of Foreclosures and Abandonment of MortgagedProperty.............123 Section 4.07. Optional Purchase ofDefaulted Mortgage Loans.............................123 Section4.08. Limited Mortgage Loan RepurchaseRight....................................124 Section 4.09.Distribution of Class A Basis Risk Shortfall Carry-Forward Amountsand Class M Basis Risk Shortfall Carry-Forward Amounts; ReserveFund; Swap Account..........124 Section 4.10.[Reserved]................................................................127Section 4.11. DerivativeContracts......................................................127

ARTICLE V THECERTIFICATES.................................................................129

Section 5.01. TheCertificates..........................................................129Section 5.02. Registration of Transfer and Exchange ofCertificates.....................131 Section 5.03. Mutilated,Destroyed, Lost or Stolen Certificates.........................136Section 5.04. Persons DeemedOwners.....................................................136Section 5.05. Appointment of PayingAgent...............................................137

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ARTICLE VI THE DEPOSITOR AND THE MASTERSERVICER...........................................138

Section 6.01. Respective Liabilities of the Depositor and theMaster Servicer...........138 Section 6.02. Merger or Consolidationof the Depositor or the Master Servicer; Assignment of Rights andDelegation of Duties by Master Servicer........................138Section 6.03. Limitation on Liability of the Depositor, the MasterServicer and Others..139 Section 6.04. Depositor and MasterServicer Not to Resign...............................140

ARTICLE VIIDEFAULT........................................................................141

Section 7.01. Events ofDefault.........................................................141

Section 7.02. Trustee or Depositor to Act; Appointment ofSuccessor.....................142 Section 7.03. Notification toCertificateholders........................................144Section 7.04. Waiver of Events ofDefault...............................................144

ARTICLE VIII CONCERNING THETRUSTEE........................................................145

Section 8.01. Duties ofTrustee.........................................................145Section 8.02. Certain Matters Affecting theTrustee.....................................146 Section 8.03.Trustee Not Liable for Certificates or MortgageLoans.....................148 Section 8.04. Master Servicer to PayTrustee's Fees and Expenses; Indemnification.......148 Section8.05. Eligibility Requirements forTrustee......................................149 Section 8.06.Resignation and Removal of theTrustee....................................150 Section 8.07.SuccessorTrustee.........................................................151Section 8.08. Merger or Consolidation ofTrustee........................................151 Section 8.09.Appointment of Co-Trustee or SeparateTrustee.............................151 Section 8.10. AppointmentofCustodians.................................................152

ARTICLE IXTERMINATION.....................................................................154

Section 9.01. Termination Upon Purchase by Residential Fundingor Liquidation of All MortgageLoans.....................................................................154Section 9.02. Additional TerminationRequirements.......................................157

ARTICLE X REMICPROVISIONS.................................................................158

Section 10.01.REMICAdministration......................................................158Section 10.02.Master Servicer, REMIC Administrator and TrusteeIndemnification..........162

ARTICLE XI MISCELLANEOUSPROVISIONS........................................................163

Section11.01.Amendment.................................................................163Section 11.02.Recordation of Agreement;Counterparts....................................165 Section11.03.Limitation on Rights ofCertificateholders................................166 Section11.04.GoverningLaw.............................................................167Section11.05.Notices...................................................................167Section 11.06.Notices to RatingAgencies................................................167 Section11.07.Severability ofProvisions................................................168

Section 11.08.Supplemental Provisions forResecuritization..............................168 Section11.09.[Reserved]................................................................169Section 11.10.Third PartyBeneficiaries.................................................169

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EXHIBITS

Exhibit A Form of Class A CertificateExhibit B Form of Class MCertificateExhibit C Form of Class B CertificateExhibit D Form ofClass SB CertificateExhibit E Form of Class R Certificate

Exhibit F Form of Custodial AgreementExhibit G-1 Group IA LoanScheduleExhibit G-2 Group IB Loan ScheduleExhibit G-3 Group II LoanScheduleExhibit H Forms of Request for ReleaseExhibit I-1 Form ofTransfer Affidavit and AgreementExhibit I-2 Form of TransferorCertificateExhibit J Form of Investor Representation LetterExhibitK Form of Transferor Representation LetterExhibit L Text ofAmendment to Pooling and Servicing Agreement Pursuant to Section11.01(e) for a Limited GuarantyExhibit M Form of LimitedGuarantyExhibit N Form of Lender Certification for Assignment ofMortgage LoanExhibit O Form of Rule 144A InvestmentRepresentationExhibit P [Reserved]

Exhibit Q Form of ERISA Representation Letter (Class MCertificates and Class B Certificates)Exhibit R-1 Form 10-KCertificationExhibit R-2 Form 10-K Back-up CertificationExhibit SInformation to be Provided by the Master Servicer to the RatingAgencies Relating to Reportable Modified Mortgage LoansExhibit TSchedule of Swap Agreement Notional BalancesExhibit U SwapAgreement

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This Pooling and Servicing Agreement, effective as of March 1,2005,among RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC., as depositor(together with itspermitted successors and assigns, the"Depositor"), RESIDENTIAL FUNDINGCORPORATION, as master servicer(together with its permitted successors andassigns, the "MasterServicer"), and JPMORGAN CHASE BANK, N.A., a banking

association organized under the laws of the United States, astrustee (togetherwith its permitted successors and assigns, the"Trustee").

PRELIMINARY STATEMENT:

The Depositor intends to sell mortgage asset-backedpass-throughcertificates (collectively, the "Certificates"), to beissued hereunder innineteen classes, which in the aggregate willevidence the entire beneficialownership interest in the MortgageLoans (as defined herein).

REMIC I

As provided herein, the REMIC Administrator will make anelection totreat the segregated pool of assets consisting of theMortgage Loans and certainother related assets (exclusive of theReserve Fund, the Swap Account and the

Swap Agreement) subject to this Agreement as a real estatemortgage investmentconduit (a "REMIC") for federal income taxpurposes, and such segregated pool ofassets will be designated as"REMIC I." The Class R-I Certificates willrepresent the sole classof "residual interests" in REMIC I for purposes of theREMICProvisions (as defined herein) under federal income tax law. Thefollowingtable irrevocably sets forth the designation, remittancerate (the"Uncertificated REMIC I Pass-Through Rate") and initialUncertificated PrincipalBalance for the "regular interests" inREMIC I (the "REMIC I RegularInterests"). The "latest possiblematurity date" (determined for purposes ofsatisfying Treasuryregulation Section 1.860G-1(a)(4)(iii)) for the REMIC IRegularInterests shall be the 360th Distribution Date. The REMIC IRegularInterests will not be certificated.

UNCERTIFICATED REMIC I UNCERTIFICATED REMIC I LATEST POSSIBLEDESIGNATION PASS-THROUGH RATE PRINCIPAL BALANCE MATURITY DATE

A-I Variable(1) $ 3,161,084.76 March 25, 2035I-1-A Variable(1)10,500,116.00 March 25, 2035I-1-B Variable(1) 10,500,116.00 March25, 2035I-2-A Variable(1) 10,317,109.50 March 25, 2035I-2-BVariable(1) 10,317,109.50 March 25, 2035I-3-A Variable(1)10,151,333.00 March 25, 2035I-3-B Variable(1) 10,151,333.00 March25, 2035I-4-A Variable(1) 10,000,343.00 March 25, 2035

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I-4-B Variable(1) 10,000,343.00 March 25, 2035I-5-A Variable(1)9,861,660.50 March 25, 2035I-5-B Variable(1) 9,861,660.50 March 25,2035I-6-A Variable(1) 9,732,784.50 March 25, 2035I-6-B Variable(1)9,732,784.50 March 25, 2035I-7-A Variable(1) 9,611,221.00 March 25,2035I-7-B Variable(1) 9,611,221.00 March 25, 2035I-8-A Variable(1)9,482,911.50 March 25, 2035I-8-B Variable(1) 9,482,911.50 March 25,2035

I-9-A Variable(1) 9,110,637.00 March 25, 2035I-9-B Variable(1)9,110,637.00 March 25, 2035I-10-A Variable(1) 8,753,335.50 March25, 2035I-10-B Variable(1) 8,753,335.50 March 25, 2035I-11-AVariable(1) 8,410,129.00 March 25, 2035I-11-B Variable(1)8,410,129.00 March 25, 2035I-12-A Variable(1) 8,080,593.50 March25, 2035I-12-B Variable(1) 8,080,593.50 March 25, 2035I-13-AVariable(1) 7,764,169.00 March 25, 2035I-13-B Variable(1)7,764,169.00 March 25, 2035I-14-A Variable(1) 7,460,331.50 March25, 2035I-14-B Variable(1) 7,460,331.50 March 25, 2035I-15-AVariable(1) 7,168,573.00 March 25, 2035I-15-B Variable(1)7,168,573.00 March 25, 2035I-16-A Variable(1) 6,888,408.00 March25, 2035I-16-B Variable(1) 6,888,408.00 March 25, 2035I-17-AVariable(1) 6,619,369.50 March 25, 2035

I-17-B Variable(1) 6,619,369.50 March 25, 2035I-18-A Variable(1)6,361,009.50 March 25, 2035I-18-B Variable(1) 6,361,009.50 March25, 2035I-19-A Variable(1) 6,112,899.50 March 25, 2035I-19-BVariable(1) 6,112,899.50 March 25, 2035I-20-A Variable(1)5,874,626.00 March 25, 2035I-20-B Variable(1) 5,874,626.00 March25, 2035I-21-A Variable(1) 5,645,794.50 March 25, 2035I-21-BVariable(1) 5,645,794.50 March 25, 2035I-22-A Variable(1)5,426,026.00 March 25, 2035I-22-B Variable(1) 5,426,026.00 March25, 2035I-23-A Variable(1) 5,199,495.50 March 25, 2035I-23-BVariable(1) 5,199,495.50 March 25, 2035I-24-A Variable(1)57,454,833.50 March 25, 2035I-24-B Variable(1) 57,454,833.50 March25, 2035I-25-A Variable(1) 2,591,757.50 March 25, 2035

I-25-B Variable(1) 2,591,757.50 March 25, 2035I-26-A Variable(1)2,498,956.50 March 25, 2035

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I-26-B Variable(1) 2,498,956.50 March 25, 2035I-27-A Variable(1)2,409,562.50 March 25, 2035I-27-B Variable(1) 2,409,562.50 March25, 2035I-28-A Variable(1) 2,323,448.00 March 25, 2035I-28-BVariable(1) 2,323,448.00 March 25, 2035I-29-A Variable(1)2,240,489.50 March 25, 2035I-29-B Variable(1) 2,240,489.50 March25, 2035I-30-A Variable(1) 2,160,720.00 March 25, 2035I-30-BVariable(1) 2,160,720.00 March 25, 2035

I-31-A Variable(1) 2,083,710.00 March 25, 2035I-31-B Variable(1)2,083,710.00 March 25, 2035I-32-A Variable(1) 2,009,513.50 March25, 2035I-32-B Variable(1) 2,009,513.50 March 25, 2035I-33-AVariable(1) 1,938,026.00 March 25, 2035I-33-B Variable(1)1,938,026.00 March 25, 2035I-34-A Variable(1) 1,869,146.50 March25, 2035I-34-B Variable(1) 1,869,146.50 March 25, 2035I-35-AVariable(1) 1,805,536.50 March 25, 2035I-35-B Variable(1)1,805,536.50 March 25, 2035I-36-A Variable(1) 19,234,281.50 March25, 2035I-36-B Variable(1) 19,234,281.50 March 25, 2035I-37-AVariable(1) 938,292.50 March 25, 2035I-37-B Variable(1) 938,292.50March 25, 2035I-38-A Variable(1) 910,047.50 March 25, 2035I-38-BVariable(1) 910,047.50 March 25, 2035I-39-A Variable(1) 882,647.50March 25, 2035

I-39-B Variable(1) 882,647.50 March 25, 2035I-40-A Variable(1)856,067.50 March 25, 2035I-40-B Variable(1) 856,067.50 March 25,2035I-41-A Variable(1) 830,283.00 March 25, 2035I-41-B Variable(1)830,283.00 March 25, 2035I-42-A Variable(1) 805,270.50 March 25,2035I-42-B Variable(1) 805,270.50 March 25, 2035I-43-A Variable(1)781,007.50 March 25, 2035I-43-B Variable(1) 781,007.50 March 25,2035I-44-A Variable(1) 757,470.50 March 25, 2035I-44-B Variable(1)757,470.50 March 25, 2035I-45-A Variable(1) 734,639.00 March 25,2035I-45-B Variable(1) 734,639.00 March 25, 2035I-46-A Variable(1)712,491.50 March 25, 2035I-46-B Variable(1) 712,491.50 March 25,2035I-47-A Variable(1) 691,007.00 March 25, 2035

I-47-B Variable(1) 691,007.00 March 25, 2035

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I-48-A Variable(1) 20,450,918.50 March 25, 2035I-48-BVariable(1) 20,450,918.50 March 25, 2035A-II Variable(1)112,833,401.60 March 25, 2035

___________________________(1) Calculated in accordance with thedefinition of "Uncertificated REMIC IPass-Through Rate" herein.

REMIC II

As provided herein, the REMIC Administrator will elect to treatthesegregated pool of assets consisting of the REMIC I RegularInterests as a REMICfor federal income tax purposes, and suchsegregated pool of assets will bedesignated as "REMIC II". TheClass R-II Certificates will be the sole class of"residualinterests" in REMIC II for purposes of the REMIC Provisions.Thefollowing table irrevocably sets forth the designation, theUncertificated REMICII Pass-Through Rate, the initialUncertificated Principal Balance and, forpurposes of satisfyingTreasury Regulation Section 1.860G-1(a)(4)(iii), the"latestpossible maturity date" for each of the REMIC II Regular Interests(asdefined herein). None of the REMIC II Regular Interests will becertificated.

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Uncertificated REMIC II Initial UncertificatedPrincipalDesignation Pass-Through Rate Balance Latest PossibleMaturity Date

II-AA Variable(1) $ 619,523,743.06 March 25, 2035

A-I-A1 Variable(1) $ 1,176,420.00 March 25, 2035 A-I-A2Variable(1) $ 1,145,180.00 March 25, 2035 A-I-A3 Variable(1) $273,990.00 March 25, 2035 A-I-B1 Variable(1) $ 2,336,030.00 March25, 2035 A-I-B2 Variable(1) $ 259,560.00 March 25, 2035

M-1 Variable(1) $ 204,870.00 March 25, 2035 M-2 Variable(1) $186,250.00 March 25, 2035 M-3 Variable(1) $ 93,130.00 March 25,2035 M-4 Variable(1) $ 111,750.00 March 25, 2035 M-5 Variable(1) $74,510.00 March 25, 2035 M-6 Variable(1) $ 93,130.00 March 25, 2035M-7 Variable(1) $ 55,870.00 March 25, 2035 M-8 Variable(1) $59,600.00 March 25, 2035 M-9 Variable(1) $ 52,150.00 March 25, 2035B-1 Variable(1) $ 37,250.00 March 25, 2035 B-2 Variable(1) $55,870.00 March 25, 2035 B-3 Variable(1) $ 74,500.00 March 25, 2035I-ZZ Variable(1) $ 6,353,281.70 March 25, 2035 II-AA Variable(1) $110,576,733.57 March 25, 2035

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A-II Variable(1) $ 1,122,690.00 March 25, 2035 II-ZZ Variable(1)$ 1,133,978.03 March 25, 2035 IO (1) (2) March 25, 2035

___________________________

(1) Calculated in accordance with the definition of"Uncertificated REMIC II Pass-Through Rate" herein.

(2) REMIC II Regular Interest IO will not have an UncertificatedPrincipal Balance but will accrue interest on its uncertificatednotional amount calculated in accordance with the definition of"Uncertificated Notional Amount" herein.

REMIC III

As provided herein, the REMIC Administrator will elect to treatthesegregated pool of assets consisting of the REMIC II RegularInterests as aREMIC for federal income tax purposes, and suchsegregated pool of assets willbe designated as REMIC III. The ClassR-III Certificates will represent the soleclass of "residualinterests" in REMIC III for purposes of the REMIC Provisionsunderfederal income tax law. The following table irrevocably sets forththedesignation, Pass-Through Rate, aggregate Initial CertificatePrincipal Balance(or Uncertificated Principal Balance, in the caseof the Class SB and IOinterests), certain features, Final ScheduledDistribution Date and initialratings for each Class of Certificatescomprising the interests representing"regular interests" in REMICIII and the Class R Certificates. The "latestpossible maturitydate" (determined for purposes of satisfying TreasuryRegulationSection 1.860G-1(a)(4)(iii)) for each Class of RegularCertificatesshall be the 360th Distribution Date.

Each Certificate, other than the Class A-II Certificate, theClass SB

Certificate and the Class R Certificates, represents ownershipof a regularinterest in REMIC III and also represents (i) the rightto receive payments withrespect to the related Basis Risk ShortfallCarry-Forward Amount and (ii) theobligation to pay Class IODistribution Amount. The entitlement to principal ofthe REMIC IIIregular interest which corresponds to each such Certificate shallbeequal in amount and timing to the entitlement to principal ofsuchCertificate.

AGGREGATE INITIAL CERTIFICATE PASS-THROUGH PRINCIPAL FINALSCHEDULEDDESIGNATION TYPE RATE BALANCE FEATURES DISTRIBUTION DATEINITIAL RATINGS MOODY'S FITCHClass A-I-A1(6) Senior Adjustable(1)$117,642,000 Senior November 25, 2024 Aaa AAA (2) Class SeniorAdjustable(1) $114,518,000 Senior May 25, 2033 Aaa AAA A-I-A2(6)(2)

Class Senior Adjustable(1) $27,399,000 Senior March 25, 2035 AaaAAA A-I-A3(6) (2) Class Senior Adjustable(1) $233,603,000 SeniorMarch 25, 2035 Aaa AAA A-I-B1(6) Class Senior Adjustable(1)$25,956,000 Senior March 25, 2035 Aaa AAA A-I-B2(6) (2) Class A-IISenior Variable $112,269,000 Senior March 25, 2035 Aaa AAAClassM-1(6) MezzanineAdjustable(1) $20,487,000 Mezzanine March 25, 2035Aa1 AA+ (2)Class M-2(6) MezzanineAdjustable(1) $18,625,000Mezzanine March 25, 2035 Aa2 AA (2)Class M-3(6)MezzanineAdjustable(1) $9,313,000 Mezzanine March 25, 2035 Aa3 AA-(2)Class M-4(6) MezzanineAdjustable(1) $11,175,000 Mezzanine March25, 2035 A1 A+ (2)Class M-5(6) MezzanineAdjustable(1) $7,451,000Mezzanine March 25, 2035 A2 A (2)Class M-6(6)MezzanineAdjustable(1) $9,313,000 Mezzanine March 25, 2035 A3 A-(2)Class M-7(6) MezzanineAdjustable(1) $5,587,000 Mezzanine March25, 2035 Baa1 BBB+ (2)

Class M-8(6) MezzanineAdjustable(1) $5,960,000 Mezzanine March25, 2035 Baa2 BBB (2)Class M-9(6) MezzanineAdjustable(1) $5,215,000Mezzanine March 25, 2035 Baa3 BBB- (2)Class B-1(6)SubordinaAdjustable(1) $3,725,000 Subordinate March 25, 2035 Ba1BB+ (2)Class B-2(6) SubordinaAdjustable(1) $5,587,000 SubordinateMarch 25, 2035 Ba2 BB (2)

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Class B-3(6) SubordinaAdjustable(1) $7,450,000 Subordinate March25, 2035 B2 B (2) Class SB SubordinaVariable(3) $3,725,486.36Subordinate N/A N/R N/R Interest Class R-I Residual N/A ResidualN/A N/R N/R N/A Class R-II Residual N/A Residual N/A N/R N/RN/AClass R-III Residual N/A Residual N/A N/R N/R N/A Class R-IVResidual N/A Residual N/A N/R N/R

N/A Class R-V Residual N/A Residual N/A N/R N/R N/A Class IOResidual (4) (5) Residual N/A N/R N/R Interest

_______________

(1) Calculated in accordance with the definition of"Pass-Through Rate" herein. Each REMIC III Regular Interestownership of which is represented by a Certificate will have thesame Pass-Through Rate as that Certificate, except with respect tothe Group 1 Net WAC Cap Rate. The Group 1 Net WAC Cap Rate for eachRegular Certificate (other than the Class A-II Certificates andClass SB Certificates) and each REMIC III Regular Interest theownership of which is represented thereby is specified in thedefinition of Group 1 Net WAC Cap Rate.(2) On and after the secondDistribution Date after the first possible Optional

Termination Date, the margin on each of the Class A-I-A3, ClassA-I-B1 and Class A-I-B2 Certificates will double and the margin oneach of the Class M Certificates and Class B Certificates willincrease by 1.5 times.(3) The Class SB Interest will accrueinterest at its variable Pass-Through Rate on the UncertificatedNotional Amount of the Class SB Interest outstanding from time totime which shall equal the Uncertificated Principal Balance of theREMIC II Regular Interests. The Class SB Interest will not accrueinterest on its Uncertificated Principal Balance.(4) For federalincome tax purposes, the Class IO Interest will not have aPass-Through Rate, but will be entitled to 100% of the amountsdistributed on REMIC II Regular Interest IO.(5) For federal incometax purposes, the Class IO Interest will not have an UncertificatedPrincipal Balance, but will have a notional amount equal to theUncertificated Notional Amount of REMIC II Regular Interest IO.(6)This Class of Certificates represents ownership of a "regularinterest" in REMIC III. Any amount distributed on this Class ofCertificates on any Distribution Date in excess of the amountdistributable on the related REMIC III Regular Interest on suchDistribution Date shall be treated for federal income tax purposesas having been paid from the Reserve Fund or the Swap

Account, as applicable, and any amount distributable on suchREMIC III Regular Interest on such Distribution Date in excess ofthe amount distributable on such Class of Certificates on suchDistribution Date shall be treated as having been paid to the SwapAccount, all pursuant to and as further provided in Section 4.09hereof. REMIC IV

As provided herein, the REMIC Administrator shall elect to treatthesegregated pool of assets consisting of the Class SB Interest asa REMIC forfederal income tax purposes, and such segregated pool ofassets will bedesignated as "REMIC IV." The Class R-IV Certificaterepresents the sole classof "residual interests" in REMIC IV forpurposes of the REMIC Provisions.

The following table sets forth the Class designation,Pass-Through Rate,Initial Certificate Principal Balance and, forpurposes of satisfying TreasuryRegulation Section1.860G-1(a)(4)(iii), the "latest possible maturity date" fortheindicated Class of Certificates that represents a "regularinterest" inREMIC IV created hereunder:

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INITIAL CERTIFICATE LATEST POSSIBLE CLASS DESIGNATIONPASS-THROUGH RATE PRINCIPAL BALANCE MATURITY DATE

SB Variable(1) $ 3,725,486.36 March 25, 2035

_______________

(1) The Class SB Certificates will receive 100% of amountsreceived in respect of the Class SB Interest.

REMIC V

As provided herein, the REMIC Administrator shall elect to treatthesegregated pool of assets consisting of the Class IO Interest asa REMIC forfederal income tax purposes, and such segregated pool ofassets will bedesignated as "REMIC V." The Class R-V Certificaterepresents the sole class of"residual interests" in REMIC V forpurposes of the REMIC Provisions.

The following table sets forth the designation, Pass-ThroughRate,initial Uncertificated Principal Balance and, for purposes ofsatisfyingTreasury Regulation Section 1.860G-1(a)(4)(iii), the"latest possible maturitydate" for the indicated class of intereststhat represents a "regular interest"in REMIC V createdhereunder:

INITIAL UNCERTIFICATED LATEST POSSIBLE DESIGNATION PASS-THROUGHRATE PRINCIPAL BALANCE MATURITY DATE

IO(1) (2) (3) March 25, 2035

_______________

(1) REMIC V Regular Interest IO will be held as an asset of theSwap Account established by the Trustee.

(2) REMIC V Regular Interest IO will not have a Pass-ThroughRate, but will receive 100% of amounts received in respect of theClass IO Interest.

(3) REMIC V Regular Interest IO will not have an UncertificatedPrincipal Balance, but will have a notional amount equal to theUncertificated Notional Amount of the Class IO Interest.

The Mortgage Loans have an aggregate Cut-off Date PrincipalBalanceequal to $745,000,486.36. The Mortgage Loans are fixed-rateand adjustable-rate,fully amortizing, first lien mortgage loanshaving terms to maturity at

origination or modification of generally not more than 30years.

In consideration of the mutual agreements herein contained,theDepositor, the Master Servicer and the Trustee agree asfollows:

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ARTICLE I

DEFINITIONS

Section 1.01. Definitions.

Whenever used in this Agreement, the following words andphrases, unlessthe context otherwise requires, shall have themeanings specified in this

Article.

Accrued Certificate Interest: With respect to each DistributionDate andthe Class A, Class M and Class B Certificates, interestaccrued during thepreceding Interest Accrual Period on itsCertificate Principal Balanceimmediately prior to such DistributionDate at the related Pass-Through Rate forthat DistributionDate.

The amount of Accrued Certificate Interest on each Class ofCertificatesshall be reduced by the amount of (a) PrepaymentInterest Shortfalls on theMortgage Loans during the prior calendarmonth (to the extent not covered byEligible Master ServicingCompensation pursuant to Section 3.16) and Relief ActShortfalls onMortgage Loans during the related Due Period, in each case totheextent allocated to that Class of Certificates pursuant toSection 4.02(k); and(b) the interest portion of Realized Lossesallocated to such Class through

Subordination as described in Section 4.05.

With respect to each Distribution Date and the Class SBCertificates,interest accrued during the preceding Interest AccrualPeriod at the relatedPass-Through Rate for that Distribution Dateon the notional amount as specifiedin the definition ofPass-Through Rate, immediately prior to such DistributionDate ineach case, reduced by any interest shortfalls with respect totheMortgage Loans in the related Loan Group including PrepaymentInterestShortfalls to the extent not covered by Eligible MasterServicing Compensationpursuant to Section 3.16 or by Excess CashFlow pursuant to clauses (xviii) and(xix) of Section 4.02(f) or bythe Swap Agreement pursuant to clauses (A) and(B) of Section4.09(c). In addition, Accrued Certificate Interest with respecttoeach Distribution Date, as to the Class SB Certificates, shall bereduced byan amount equal to the interest portion of RealizedLosses allocated to theOvercollateralization Amount pursuant toSection 4.05 hereof. Accrued

Certificate Interest on the Class A-I, Class M and Class BCertificates shallaccrue on the basis of a 360-day year and theactual number of days in therelated Interest Accrual Period.Accrued Certificate Interest on the Class A-IIand Class SBCertificates shall accrue on the basis of a 360-day yearconsistingof twelve 30-day months.

Adjusted Mortgage Rate: With respect to any Mortgage Loan andany dateof determination, the Mortgage Rate borne by the relatedMortgage Note, less therelated Subservicing Fee Rate.

Adjustment Date: As to each adjustable-rate Mortgage Loan, eachdate setforth in the related Mortgage Note on which an adjustmentto the interest rateon such Mortgage Loan becomes effective.

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Advance: As to any Mortgage Loan, any advance made by theMasterServicer, pursuant to Section 4.04.

Affected Party: As defined in the Swap Agreement.

Affiliate: With respect to any Person, any other Personcontrolling,controlled by or under common control with such firstPerson. For the purposesof this definition, "control" means thepower to direct the management and

policies of such Person, directly or indirectly, whether throughthe ownershipof voting securities, by contract or otherwise; andthe terms "controlling" and"controlled" have meanings correlativeto the foregoing.

Agreement: This Pooling and Servicing Agreement and allamendmentshereof and supplements hereto.

Amount Held for Future Distribution: As to any DistributionDate, thetotal of the amounts held in the Custodial Account at theclose of business onthe preceding Determination Date on account of(i) Liquidation Proceeds,Subsequent Recoveries, REO Proceeds,Insurance Proceeds, Principal Prepayments,Mortgage Loan purchasesmade pursuant to Section 2.02, 2.03, 2.04, 4.07 or 4.08and MortgageLoan substitutions made pursuant to Section 2.03 or 2.04 receivedormade in the month of such Distribution Date (other than suchLiquidationProceeds, Insurance Proceeds, REO Proceeds, SubsequentRecoveries and purchases

of Mortgage Loans that the Master Servicer has deemed to havebeen received inthe preceding month in accordance with Section3.07(b)) and (ii) payments whichrepresent early receipt ofscheduled payments of principal and interest due on adate or datessubsequent to the Due Date in the related Due Period.

Appraised Value: As to any Mortgaged Property, one of thefollowing: (i)the lesser of (a) the appraised value of suchMortgaged Property based upon theappraisal made at the time of theorigination of the related Mortgage Loan, and(b) the sales price ofthe Mortgaged Property at such time of origination, (ii)in the caseof a Mortgaged Property securing a refinanced or modifiedMortgageLoan, one of (1) the appraised value based upon theappraisal made at the timeof origination of the loan which wasrefinanced or modified, (2) the appraisedvalue determined in anappraisal made at the time of refinancing or modificationor (3) thesales price of the Mortgaged Property, or (iii) with respect totheMortgage Loans for which a broker's price opinion was obtained,the value

contained in such opinion.

Assignment: An assignment of the Mortgage, notice of transferorequivalent instrument, in recordable form, sufficient under thelaws of thejurisdiction wherein the related Mortgaged Property islocated to reflect ofrecord the sale of the Mortgage Loan to theTrustee for the benefit ofCertificateholders, which assignment,notice of transfer or equivalentinstrument may be in the form ofone or more blanket assignments coveringMortgages secured byMortgaged Properties located in the same county, ifpermitted by lawand accompanied by an Opinion of Counsel to that effect.

Assignment Agreement: The Assignment and Assumption Agreement,dated theClosing Date, between Residential Funding and theDepositor relating to thetransfer and assignment of the MortgageLoans.

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Available Distribution Amount: As to any Distribution Date, anamountequal to (a) the sum of (i) the amount relating to theMortgage Loans on depositin the Custodial Account as of the closeof business on the immediatelypreceding Determination Date,including any Subsequent Recoveries, and amountsdeposited in theCustodial Account in connection with the substitution ofQualifiedSubstitute Mortgage Loans, (ii) the amount of any Advance made ontheimmediately preceding Certificate Account Deposit Date, (iii)any amountdeposited in the Certificate Account on the relatedCertificate Account Deposit

Date pursuant to Section 3.12(a), (iv) any amount that theMaster Servicer isnot permitted to withdraw from the CustodialAccount pursuant to Section 3.16(e)and (v) any amount deposited inthe Certificate Account pursuant to Section 4.07or 4.08 and anyamounts deposited in the Custodial Account pursuant to Section9.01,reduced by (b) the sum as of the close of business on theimmediatelypreceding Determination Date of: (w) any payments orcollections consisting ofprepayment charges on the Mortgage Loansthat were received during the relatedPrepayment Period, (x) theAmount Held for Future Distribution, (y) amountspermitted to bewithdrawn by the Master Servicer from the Custodial Accountpursuantto clauses (ii)-(x), inclusive, of Section 3.10(a) and (z) any NetSwapPayments and Swap Termination Payments not due to a SwapProvider Trigger Eventfor such Distribution Date.

Bankruptcy Code: The Bankruptcy Code of 1978, as amended.

Book-Entry Certificate: Any Certificate registered in the nameof theDepository or its nominee.

Business Day: Any day other than (i) a Saturday or a Sunday or(ii) aday on which banking institutions in the States of New York,Minnesota,Illinois, Texas or Michigan (and such other state orstates in which theCustodial Account or the Certificate Account areat the time located) arerequired or authorized by law or executiveorder to be closed.

Call Rights: As defined in Section 9.01(e).

Capitalization Reimbursem*nt Amount: As to any DistributionDate, theamount of unreimbursed Advances or Servicing Advances thatwere added to theStated Principal Balance of the related MortgageLoans during the precedingcalendar month and reimbursed to theMaster Servicer or Subservicer pursuant to

Section 3.10(a)(vii) on or prior to such Distribution Date.

Cash Liquidation: As to any defaulted Mortgage Loan other thanaMortgage Loan as to which an REO Acquisition occurred, adetermination by theMaster Servicer that it has received allInsurance Proceeds, LiquidationProceeds and other payments or cashrecoveries which the Master Servicerreasonably and in good faithexpects to be finally recoverable with respect tosuch MortgageLoan.

Certificate: Any Class A Certificate, Class M Certificate, ClassBCertificate, Class SB Certificate or Class R Certificate.

Certificate Account: The account or accounts created andmaintainedpursuant to Section 4.01, which shall be entitled"JPMorgan Chase Bank, N.A., astrustee, in trust for the registeredholders of Residential Asset MortgageProducts, Inc., MortgageAsset-Backed Pass-Through Certificates, Series2005-RS3" and whichmust be an Eligible Account.

Certificate Account Deposit Date: As to any Distribution Date,theBusiness Day prior thereto.

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Certificate Register and Certificate Registrar: The registermaintainedand the registrar appointed pursuant to Section 5.02.

Class: Collectively, all of the Certificates or uncertificatedinterestsbearing the same designation.

Class A Certificate: Any one of the Class A-I-A1, Class A-I-A2,ClassA-I-A3, Class A-I-B1, Class A-I-B2 or Class A-IICertificates.

Class A-I Interest Distribution Amount: With respect to eachClass ofClass A-I Certificates and any Distribution Date, theaggregate amount ofAccrued Certificate Interest to be distributedto the holders of such Class ofClass A-I Certificates for suchDistribution Date, plus any related AccruedCertificate Interestthereon remaining unpaid from any prior Distribution Date,less anyrelated Prepayment Interest Shortfalls for such Distribution Datenotcovered by Eligible Master Servicing Compensation and any ReliefAct Shortfallsfor such Distribution Date, allocated among the ClassA-I Certificates asdescribed herein from the sources and in thepriority as follows:

(i) first, from the Interest Remittance Amount derived from therelated Sub-Group;

(ii) second, from the Interest Remittance Amount derived fromthe non-related

Sub-Group after taking into account any payments in respect ofinterest on the non-related Classes of Class A-I Certificates madein clause (i) above;

(iii) third, from the Principal Remittance Amount derived fromthe related Sub-Group; and

(iv) fourth, from the Principal Remittance Amount derived fromthe non-related Sub-Group after taking into account any payments inrespect of interest on the non-related Classes of Class A-ICertificates made in clause (iii) above.

Class A Margin: With respect to the Class A-I-A1 Certificates,0.100%per annum. With respect to the Class A-I-A2 Certificates,0.170% per annum. Withrespect to the Class A-I-A3 Certificates,initially 0.300% per annum, and on any

Distribution Date on or after the second Distribution Date afterthe firstpossible Optional Termination Date, 0.600% per annum. Withrespect to the ClassA-I-B1 Certificates, initially 0.195% perannum, and on any Distribution Date onor after the secondDistribution Date after the first possible OptionalTerminationDate, 0.390% per annum. With respect to the ClassA-I-B2Certificates, initially 0.245% per annum, and on anyDistribution Date on orafter the second Distribution Date after thefirst possible Optional TerminationDate, 0.490% per annum.

Class A Principal Distribution Amount: With respect to anyDistributionDate (i) prior to the Stepdown Date or on or after theStepdown Date if aTrigger Event is in effect for that DistributionDate, the greater of (a) thePrincipal Distribution Amount for thatDistribution Date and (b) the sum of theamounts described inclauses (b)(i) through (b)(iii) of the definition ofPrincipalDistribution Amount for that Distribution Date related to the GroupIILoans for that Distribution Date or (ii) on or after the StepdownDate if aTrigger Event is not in effect for that Distribution Date,the greater of (a)the lesser of:

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(i) the Principal Distribution Amount for that DistributionDate; and

(ii) the excess, if any, of (A) the aggregate CertificatePrincipal Balance of the Class A Certificates immediately prior tothat Distribution Date over (B) the lesser of (x) the product of(1) the applicable Subordination Percentage and (2) the aggregateStated Principal Balance of the Mortgage Loans after giving effectto

distributions to be made on that Distribution Date and (y) theaggregate Stated Principal Balance of the Mortgage Loans aftergiving effect to distributions to be made on that DistributionDate, less the Overcollateralization Floor

and (b) the sum of the amounts described in clauses (b)(i)through (b)(iii) of the definition of Principal Distribution Amountfor that Distribution Date related to the Group II Loans for thatDistribution Date.

Class A-I Basis Risk Shortfall: With respect to the ClassA-ICertificates and any Distribution Date for which thePass-Through Rate for anysuch Class of Certificates is equal to theGroup I Net WAC Cap Rate, the excess,if any, of (x) AccruedCertificate Interest on that Class of Certificates onsuchDistribution Date, calculated at a rate equal to the lesser of (a)LIBOR

plus the related Class A Margin, as calculated for suchDistribution Date, and(b) the Maximum Mortgage Loan Rate, over (y)Accrued Certificate Interest onsuch Class of Class A-I Certificatesfor such Distribution Date calculated atthe Group I Net WAC CapRate.

Class A-I Basis Risk Shortfall Carry-Forward Amount: Withrespect toeach Class of Class A-I Certificates and any DistributionDate, the sum of (a)the aggregate amount of Basis Risk Shortfallfor such Class on such DistributionDate plus (b) any Class A-IBasis Risk Shortfall Carry-Forward Amount for suchClass remainingunpaid from the preceding Distribution Date, plus (c) onemonth'sinterest on the amount in clause (b) (based on the number of daysin thepreceding Interest Accrual Period), to the extent previouslyunreimbursed byExcess Cash Flow or the Swap Agreement pursuant toSection 4.02(f)(xx) orSection 4.09(c)(E), at a rate equal to therelated Pass-Through Rate.

Class A-I Certificate: Any one of the Class A-I-A1, ClassA-I-A2, ClassA-I-A3, Class A-I-B1 or Class A-I-B2 Certificates.

Class A-I Principal Distribution Amount: On any DistributionDate, theClass A Principal Distribution Amount minus the sum of (a)the Class A-IIPrincipal Distribution Amount and (b) any Net SwapPayments or Swap TerminationPayment not due to a Swap ProviderTrigger Event due to the Swap Counterparty tothe extent notpreviously paid from interest or principal collections on theGroupI Loans.

Class A-I-A Certificate: Any one of the Class A-I-A1, ClassA-I-A2 orClass A-I-A3 Certificates.

Class A-I-B Certificate: Any one of the Class A-I-B1Certificates orClass A-I-B2 Certificates.

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Class A-I-A Principal Distribution Amount: On any DistributionDate, theClass A-I Principal Distribution Amount multiplied by afraction, the numeratorof which is the portion of the PrincipalAllocation Amount related to the GroupIA Loans for thatDistribution Date and the denominator of which is thePrincipalAllocation Amount for the Group IA Loans and Group IB Loans forthatDistribution Date.

Class A-I-B Principal Distribution Amount: On any DistributionDate, the

Class A-I Principal Distribution Amount multiplied by afraction, the numeratorof which is the portion of the PrincipalAllocation Amount related to the GroupIB Loans for thatDistribution Date and the denominator of which is thePrincipalAllocation Amount for the Group IA Loans and Group IB Loans forthatDistribution Date.

Class A-I-A1 Certificate: Any one of the Class A-I-A1Certificatesexecuted by the Trustee and authenticated by theCertificate Registrarsubstantially in the form annexed hereto asExhibit A, senior to the Class M,Class B, Class SB and Class RCertificates with respect to distributions and theallocation ofRealized Losses as set forth in Section 4.05, and evidencing(i)ownership of an interest designated as a "regular interest" inREMIC III forpurposes of the REMIC Provisions, (ii) the right toreceive the Class A-I BasisRisk Shortfall Carry-Forward Amount fromthe Reserve Fund and the Swap Accountand (iii) the obligation topay the Class IO Distribution Amount.

Class A-I-A2 Certificate: Any one of the Class A-I-A2Certificatesexecuted by the Trustee and authenticated by theCertificate Registrarsubstantially in the form annexed hereto asExhibit A, senior to the Class M,Class B, Class SB and Class RCertificates with respect to distributions and theallocation ofRealized Losses as set forth in Section 4.05, and evidencing(i)ownership of an interest designated as a "regular interest" inREMIC III forpurposes of the REMIC Provisions, (ii) the right toreceive the Class A-I BasisRisk Shortfall Carry-Forward Amount fromthe Reserve Fund and the Swap Accountand (iii) the obligation topay the Class IO Distribution Amount.

Class A-I-A3 Certificate: Any one of the Class A-I-A3Certificatesexecuted by the Trustee and authenticated by theCertificate Registrarsubstantially in the form annexed hereto asExhibit A, senior to the Class M,Class B, Class SB and Class RCertificates with respect to distributions and the

allocation of Realized Losses as set forth in Section 4.05, andevidencing (i)ownership of an interest designated as a "regularinterest" in REMIC III forpurposes of the REMIC Provisions, (ii)the right to receive the Class A-I BasisRisk ShortfallCarry-Forward Amount from the Reserve Fund and the Swap Accountand(iii) the obligation to pay the Class IO Distribution Amount.

Class A-I-B1 Certificate: Any one of the Class A-I-B1Certificatesexecuted by the Trustee and authenticated by theCertificate Registrarsubstantially in the form annexed hereto asExhibit A, senior to the Class M,Class B, Class SB and Class RCertificates with respect to distributions and theallocation ofRealized Losses as set forth in Section 4.05, and evidencing(i)ownership of an interest designated as a "regular interest" inREMIC III forpurposes of the REMIC Provisions, (ii) the right toreceive the Class A-I BasisRisk Shortfall Carry-Forward Amount fromthe Reserve Fund and the Swap Accountand (iii) the obligation topay the Class IO Distribution Amount.

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Class A-I-B2 Certificate: Any one of the Class A-I-B2Certificatesexecuted by the Trustee and authenticated by theCertificate Registrarsubstantially in the form annexed hereto asExhibit A, senior to the Class M,Class B, Class SB and Class RCertificates with respect to distributions and theallocation ofRealized Losses as set forth in Section 4.05, and evidencing(i)ownership of an interest designated as a "regular interest" inREMIC III forpurposes of the REMIC Provisions, (ii) the right toreceive the Class A-I BasisRisk Shortfall Carry-Forward Amount fromthe Reserve Fund and the Swap Accountand (iii) the obligation topay the Class IO Distribution Amount.

Class A-II Certificate: Any one of the Class A-II Certificatesexecutedby the Trustee and authenticated by the CertificateRegistrar substantially inthe form annexed hereto as Exhibit A,senior to Class M, Class B, Class SB andClass R Certificates withrespect to distributions and the allocation ofRealized Losses asset forth in Section 4.05, and evidencing ownership of aninterestdesignated as a "regular interest" in REMIC III for purposes oftheREMIC Provisions.

Class A-II Interest Distribution Amount: With respect to eachClass ofClass A-II Certificates and any Distribution Date, theaggregate amount ofAccrued Certificate Interest to be distributedto the holders of such Class ofClass A-II Certificates for suchDistribution Date, plus any related AccruedCertificate Interestthereon remaining unpaid from any prior Distribution Date,less anyrelated Prepayment Interest Shortfalls for such Distribution Datenotcovered by Eligible Master Servicing Compensation and any ReliefAct Shortfallsfor such Distribution Date, allocated as describedherein to the Class A-II

Certificates.

Class A-II Principal Distribution Amount: On any DistributionDate, thesum of (a) the amounts described in clauses (b)(i) through(b)(iii) of thedefinition of Principal Distribution Amount for thatDistribution Date relatedto the Group II Loans for thatDistribution Date, (b) the amount described inclause (b)(iv) of thedefinition Principal Distribution Amount for thatDistribution Dateup to the amount of Realized Losses on the Group II Loans and(c)the amount described in clause (b)(vi) of the definition ofPrincipalDistribution Amount for that Distribution Date until theaggregate StatedPrincipal Balance of the Group II Loans equals theCertificate Principal Balanceof the Class A-II Certificates;provided that after the aggregate CertificatePrincipal Balance ofthe Class M Certificates and Class B Certificates has beenreducedto zero, the amount determined pursuant to clause (b) will be basedonthe Realized Losses on the Group II Loans relative to theRealized Losses on allof the Mortgage Loans, and the amountdetermined pursuant to clause (c) will be

based on the aggregate Stated Principal Balance of the Group IILoans relativeto the aggregate Stated Principal Balance of all ofthe Mortgage Loans.

Class B Basis Risk Shortfall: With respect to the Class B-1,Class B-2and Class B-3 Certificates and any Distribution Date forwhich the Pass-ThroughRate for any such Class of Certificates isequal to the Group I Net WAC CapRate, the excess, if any, of (x)Accrued Certificate Interest on that Class ofCertificates on suchDistribution Date, using the lesser of (a) LIBOR plus therelatedClass B Margin, as calculated for such Distribution Date, and (b)theMaximum Mortgage Loan Rate, over (y) Accrued CertificateInterest on such Classof Class B Certificates for such DistributionDate calculated at the Group I NetWAC Cap Rate.

Class B Basis Risk Shortfall Carry-Forward Amount: With respectto theClass B-1, Class B-2 and Class B-3 Certificates and anyDistribution Date, thesum of (a) the aggregate amount of Class BBasis Risk Shortfall for each suchClass on such Distribution Dateplus (b) any Class B Basis Risk Shortfall

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Carry-Forward Amount for such Classes remaining unpaid from theprecedingDistribution Date, plus (c) one month's interest on theamount in clause (b)(based on the number of days in the precedingInterest Accrual Period), to theextent previously unreimbursed byExcess Cash Flow or the Swap Agreementpursuant to Section4.02(f)(xx) or Section 4.09(c)(E), at a rate equal to therelatedPass-Through Rate.

Class B Certificate: Any one of the Class B-1, Class B-2 orClass B-3

Certificates.

Class B Margin: With respect to each class of the Class BCertificates,initially 3.000% per annum, and on any DistributionDate on or after the secondDistribution Date after the firstpossible Optional Termination Date, 4.500% perannum.

Class B-1 Certificate: Any one of the Class B-1 Certificatesexecuted bythe Trustee and authenticated by the CertificateRegistrar substantially in theform annexed hereto as Exhibit C,senior to the Class B-2, Class B-3, Class SBand Class RCertificates with respect to distributions and the allocationofRealized Losses as set forth in Section 4.05, and evidencing (i)an interestdesignated as a "regular interest" in REMIC III forpurposes of the REMICProvisions, (ii) the right to receive theClass B Basis Risk ShortfallCarry-Forward Amount from the ReserveFund and the Swap Account and (iii) the

obligation to pay the Class IO Distribution Amount.

Class B-1 Interest Distribution Amount: With respect to theClass B-1Certificates and any Distribution Date, the aggregateamount of AccruedCertificate Interest to be distributed to theholders of such Class for suchDistribution Date, plus any relatedAccrued Certificate Interest remainingunpaid from any priorDistribution Date, less any Prepayment Interest Shortfallsfor suchDistribution Date not covered by Eligible Master ServicingCompensationand any Relief Act Shortfalls for such DistributionDate allocated as describedherein to the Class B-1Certificates.

Class B-1 Principal Distribution Amount: With respect toanyDistribution Date (i) prior to the Stepdown Date or on or afterthe StepdownDate if a Trigger Event is in effect for thatDistribution Date, the remainingPrincipal Distribution Amount forthat Distribution Date after distribution of

the Class A, Class M-1, Class M-2, Class M-3, Class M-4, ClassM-5, Class M-6,Class M-7, Class M-8 and Class M-9 PrincipalDistribution Amounts (reduced byany Net Swap Payments or SwapTermination Payment not due to a Swap ProviderTrigger Event due tothe Swap Counterparty to the extent not previously paidfrominterest or principal collections on the Group I Loans) or (ii) onor afterthe Stepdown Date if a Trigger Event is not in effect forthat DistributionDate, (a) the lesser of:

(i) the remaining Principal Distribution Amount for thatDistribution Date after distribution of the Class A, Class M-1,Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7,Class M-8 and Class M-9 Principal Distribution Amounts; and

(ii) the excess, if any, of (A) the sum of (1) the aggregateCertificate Principal Balance of the Class A, Class M-1, Class M-2,Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8and Class M-9 Certificates (after taking into account the paymentof the Class A, Class M-1, Class M-2, Class M-3, Class M-4, ClassM-5, Class M-6, Class M-7, Class M-8 and Class M-9 PrincipalDistribution Amounts

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for that Distribution Date) and (2) the Certificate PrincipalBalance of the Class B-1 Certificates immediately prior to thatDistribution Date over (B) the lesser of (x) the product of (1) theapplicable Subordination Percentage and (2) the aggregate StatedPrincipal Balance of the Mortgage Loans after giving effect todistributions to be made on that Distribution Date and (y) theaggregate Stated Principal Balance of the Mortgage Loans aftergiving effect to distributions to be made that Distribution Date,less the Overcollateralization Floor

minus (b) any Net Swap Payments or Swap Termination Payment notdue to a Swap Provider Trigger Event due to the Swap Counterpartyto the extent not previously paid from interest or principalcollections on the Group I Loans.

Class B-2 Certificate: Any one of the Class B-2 Certificatesexecuted byth