ASSIGNMENT AND ASSUMPTION AGREEMENT

                                                                  EXECUTION COPY

                       ASSIGNMENT AND ASSUMPTION AGREEMENT

               ASSIGNMENT AND ASSUMPTION  AGREEMENT,  dated  September 28, 2006,
between Residential Funding  Corporation,  a Delaware  corporation  ("RFC"), and
Residential Accredit Loans, Inc., a Delaware corporation (the "Company").

                                    RECITALS

               A. RFC has  entered  into  contracts  ("Seller  Contracts")  with
various  seller/servicers,  pursuant to which such  seller/servicers sell to RFC
mortgage loans.

               B. The Company wishes to purchase from RFC certain Mortgage Loans
(as hereinafter defined) sold to RFC pursuant to the Seller Contracts.

               C. The Company, RFC, as master servicer,  and Deutsche Bank Trust
Company  Americas,  as  trustee  (the  "Trustee"),  are  entering  into a Series
Supplement,  dated as of September 1, 2006 (the  "Series  Supplement"),  and the
Standard  Terms of Pooling and  Servicing  Agreement,  dated as of March 1, 2006
(collectively,  the "Pooling and  Servicing  Agreement"),  pursuant to which the
Company  proposes  to issue  Mortgage  Asset-Backed  Pass-Through  Certificates,
Series 2006-QA8 (the  "Certificates")  consisting of eighteen classes designated
as Class A-1,  Class A-2, Class A-3, Class M-1, Class M-2, Class M-3, Class M-4,
Class M-5,  Class M-6,  Class M-7,  Class M-8, Class M-9, Class R-I, Class R-II,
Class  R-III,  Class R-X,  Class SB-1 and Class SB-2  Certificates  representing
beneficial ownership interests in a trust fund consisting primarily of a pool of
mortgage loans identified in Exhibit One to the Series Supplement (the "Mortgage
Loans").

               D. In  connection  with the purchase of the Mortgage  Loans,  the
Company will assign to RFC a de minimis portion of the Class R-I, Class R-II and
Class R-III Certificates.
               E. In connection  with the purchase of the Mortgage Loans and the
issuance of the  Certificates,  RFC wishes to make certain  representations  and
warranties to the Company.

               F. The Company and RFC intend that the  conveyance  by RFC to the
Company  of all its  right,  title and  interest  in and to the  Mortgage  Loans
pursuant to this Agreement shall constitute a purchase and sale and not a loan.

               NOW THEREFORE,  in  consideration  of the recitals and the mutual
promises herein and other good and valuable consideration,  the parties agree as
follows:

               1. All  capitalized  terms used but not defined herein shall have
the meanings assigned thereto in the Pooling and Servicing Agreement.

               2.  Concurrently   with the  execution and delivery  hereof,  RFC
hereby  assigns to the  Company  without  recourse  all of its right,  title and
interest in and to the Mortgage  Loans,  including  all interest and  principal,
received on or with respect to the Mortgage Loans after September 1, 2006 (other
than payments of principal  and interest due on the Mortgage  Loans on or before
September 30, 2006). In consideration  of such  assignment,  RFC or its designee
will receive

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from  the  Company  in   immediately   available   funds  an  amount   equal  to
$814,934,294.07  and a de minimis  portion of each class of the Class R-I, Class
R-II and Class R-III Certificates. In connection with such assignment and at the
Company's  direction,  RFC has in respect of each  Mortgage  Loan  endorsed  the
related  Mortgage Note (other than any Destroyed  Mortgage Note) to the order of
the Trustee and delivered an  assignment  of mortgage in recordable  form to the
Trustee or its agent.

        RFC and the  Company  agree  that the sale of each  Pledged  Asset  Loan
pursuant  to  this  Agreement  will  also  constitute  the   assignment,   sale,
setting-over,  transfer and  conveyance  to the Company,  without  recourse (but
subject to RFC's covenants, representations and warranties specifically provided
herein),  of all of RFC's obligations and all of RFC's right, title and interest
in, to and under,  whether now existing or  hereafter  acquired as owner of such
Pledged  Asset  Loan with  respect to any and all  money,  securities,  security
entitlements,  accounts, general intangibles, payment intangibles,  instruments,
documents, deposit accounts, certificates of deposit, commodities contracts, and
other  investment  property and other  property of whatever kind or  description
consisting of, arising from or related, (i) the Credit Support Pledge Agreement,
the Funding and Pledge  Agreement  among the Mortgagor or other Person  pledging
the  related  Pledged  Assets  (the  "Customer"),  Combined  Collateral  LLC and
National Financial Services Corporation, and the Additional Collateral Agreement
between GMAC Mortgage Corporation and the Customer (collectively,  the "Assigned
Contracts"),  (ii)  all  rights,  powers  and  remedies  of RFC as owner of such
Pledged Asset Loan under or in connection with the Assigned  Contracts,  whether
arising under the terms of such  Assigned  Contracts,  by statute,  at law or in
equity,  or otherwise  arising out of any default by the  Mortgagor  under or in
connection  with the Assigned  Contracts,  including  all rights to exercise any
election  or  option  or to make any  decision  or  determination  or to give or
receive any notice,  consent,  approval or waiver thereunder,  (iii) the Pledged
Amounts and all money,  securities,  security  entitlements,  accounts,  general
intangibles,  payment  intangibles,  instruments,  documents,  deposit accounts,
certificates of deposit,  commodities  contracts,  and other investment property
and other  property of whatever  kind or  description  and all cash and non-cash
proceeds of the sale,  exchange,  or redemption  of, and all stock or conversion
rights,  rights  to  subscribe,  liquidation  dividends  or  preferences,  stock
dividends,  rights to interest,  dividends,  earnings,  income,  rents,  issues,
profits, interest payments or other distributions of cash or other property that
secures a Pledged Asset Loan, (iv) all documents,  books and records  concerning
the foregoing  (including all computer programs,  tapes, disks and related items
containing  any such  information)  and (v) all  insurance  proceeds  (including
proceeds  from the  Federal  Deposit  Insurance  Corporation  or the  Securities
Investor  Protection  Corporation or any other insurance  company) of any of the
foregoing  or  replacements  thereof  or  substitutions  therefor,  proceeds  of
proceeds and the  conversion,  voluntary  or  involuntary,  of any thereof.  The
foregoing transfer,  sale,  assignment and conveyance does not constitute and is
not intended to result in the creation,  or an assumption by the Company, of any
obligation of RFC, or any other Person in connection  with the Pledged Assets or
under any agreement or instrument relating thereto,  including any obligation to
the Mortgagor, other than as owner of the Pledged Asset Loan.

        The Company and RFC intend that the  conveyance by RFC to the Company of
all its right,  title and interest in and to the Mortgage Loans pursuant to this
Section 2 shall be, and be construed as, a sale of the Mortgage  Loans by RFC to
the Company. It is, further, not intended that such conveyance be deemed to be a
pledge of the  Mortgage  Loans by RFC to the  Company  to secure a debt or other

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obligation of RFC. Nonetheless,  (a) this Agreement is intended to be and hereby
is a security  agreement within the meaning of Articles 8 and 9 of the Minnesota
Uniform  Commercial Code and the Uniform Commercial Code of any other applicable
jurisdiction; (b) the conveyance provided for in this Section shall be deemed to
be, and hereby is, a grant by RFC to the  Company of a security  interest in all
of RFC's right, title and interest,  whether now owned or hereafter acquired, in
and to any and all general intangibles,  payment intangibles,  accounts, chattel
paper, instruments, documents, money, deposit accounts, certificates of deposit,
goods,  letters of credit,  advices of credit and investment property consisting
of,  arising from or relating to any of the following:  (A) the Mortgage  Loans,
including (i) with respect to each Cooperative  Loan, the related Mortgage Note,
Security   Agreement,   Assignment  of  Proprietary  Lease,   Cooperative  Stock
Certificate,  Cooperative  Lease, any insurance policies and all other documents
in the related Mortgage File, (ii) with respect to each Mortgage Loan other than
a Cooperative  Loan,  the related  Mortgage  Note,  the Mortgage,  any insurance
policies and all other  documents in the related  Mortgage  File, (B) all monies
due or to become due pursuant to the Mortgage Loans in accordance with the terms
thereof and (C) all proceeds of the conversion, voluntary or involuntary, of the
foregoing  into  cash,  instruments,  securities  or other  property,  including
without  limitation  all  amounts  from  time to time  held or  invested  in the
Certificate  Account  or the  Custodial  Account,  whether  in the form of cash,
instruments,  securities or other  property;  (c) the possession by the Trustee,
the Custodian or any other agent of the Trustee of Mortgage  Notes or such other
items  of  property  as  constitute  instruments,  money,  payment  intangibles,
negotiable  documents,  goods, deposit accounts,  letters of credit,  advices of
credit,  investment  property or chattel paper shall be deemed to be "possession
by the secured  party," or possession  by a purchaser or a person  designated by
such secured party, for purposes of perfecting the security interest pursuant to
the Minnesota  Uniform  Commercial  Code and the Uniform  Commercial Code of any
other applicable jurisdiction  (including,  without limitation,  Sections 8-106,
9-313  and  9-106  thereof);  and (d)  notifications  to  persons  holding  such
property,  and  acknowledgments,  receipts or confirmations from persons holding
such property, shall be deemed notifications to, or acknowledgments, receipts or
confirmations from, securities intermediaries,  bailees or agents of, or persons
holding  for, (as  applicable)  the Trustee for the purpose of  perfecting  such
security interest under applicable law. RFC shall, to the extent consistent with
this Agreement, take such reasonable actions as may be necessary to ensure that,
if this Agreement were determined to create a security  interest in the Mortgage
Loans and the other property  described above,  such security  interest would be
determined  to  be  a  perfected  security  interest  of  first  priority  under
applicable  law and  will be  maintained  as such  throughout  the  term of this
Agreement.  Without limiting the generality of the foregoing,  RFC shall prepare
and deliver to the Company not less than 15 days prior to any filing  date,  and
the Company shall file,  or shall cause to be filed,  at the expense of RFC, all
filings  necessary  to  maintain  the  effectiveness  of  any  original  filings
necessary under the Uniform  Commercial Code as in effect in any jurisdiction to
perfect  the  Company's  security  interest  in or lien on the  Mortgage  Loans,
including  without  limitation (x) continuation  statements,  and (y) such other
statements as may be occasioned by (1) any change of name of RFC or the Company,
(2) any change of location of the state of  formation,  place of business or the
chief executive office of RFC, or (3) any transfer of any interest of RFC in any
Mortgage Loan.

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               Notwithstanding  the  foregoing,  (i) the Master  Servicer  shall
retain all servicing rights (including,  without  limitation,  primary servicing
and master servicing)  relating to or arising out of the Mortgage Loans, and all
rights to receive  servicing fees,  servicing  income and other payments made as
compensation  for such  servicing  granted to it under the Pooling and Servicing
Agreement pursuant to the terms and conditions set forth therein  (collectively,
the  "Servicing  Rights") and (ii) the Servicing  Rights are not included in the
collateral in which RFC grants a security  interest  pursuant to the immediately
preceding paragraph.

               3.  Concurrently  with the  execution  and delivery  hereof,  the
Company  hereby  assigns to RFC  without  recourse  all of its right,  title and
interest in and to a de minimis  portion of the Class R-I,  Class R-II and Class
R-III  Certificates as part of the  consideration  payable to RFC by the Company
pursuant to this Agreement.

               4. RFC represents and warrants to the Company that on the date of
execution  hereof  (or,  if  otherwise  specified  below,  as  of  the  date  so
specified):

               (a) The  information  set  forth  in  Exhibit  One to the  Series
Supplement with respect to each Mortgage Loan or the Mortgage Loans, as the case
may be,  is true and  correct  in all  material  respects,  at the date or dates
respecting which such information is furnished;

               (b) Each Mortgage Loan with a Loan-to-Value  Ratio at origination
in excess of 80% will be insured by a Primary Insurance Policy covering at least
35% of the  principal  balance  of  the  Mortgage  Loan  at  origination  if the
Loan-to-Value Ratio is between 100.00% and 95.01%, at least 30% of the principal
balance  of the  Mortgage  Loan at  origination  if the  Loan-to-Value  Ratio is
between  95.00% and  90.01%,  at least 25% of the  balance if the  Loan-to-Value
Ratio is  between  90.00%  and  85.01%  and at least 12% of the  balance  if the
Loan-to-Value  Ratio is between 85.00% and 80.01%.  To the best of the Company's
knowledge,  each such Primary  Insurance  Policy is in full force and effect and
the Trustee is entitled to the benefits thereunder;

               (c) Each Primary  Insurance  Policy insures the named insured and
its successors and assigns, and the issuer of the Primary Insurance Policy is an
insurance  company whose  claims-paying  ability is currently  acceptable to the
Rating Agencies;

               (d) Immediately  prior to the assignment of the Mortgage Loans to
the  Company,  RFC had good title to, and was the sole owner of,  each  Mortgage
Loan free and clear of any pledge, lien, encumbrance or security interest (other
than rights to servicing and related  compensation  and, with respect to certain
Mortgage  Loans,  the monthly  payment due on the first Due Date  following  the
Cut-off  Date),  and no action  has been taken or failed to be taken by RFC that
would materially adversely affect the enforceability of any Mortgage Loan or the
interests therein of any holder of the Certificates;

               (e) No Mortgage Loan was 30 or more days delinquent in payment of
principal  and interest as of the Cut-off Date and no Mortgage  Loan has been so
delinquent more than once in the 12-month period prior to the Cut-off Date;

               (f) Subject to clause (e) above as respects delinquencies,  there
is no default,  breach,  violation or event of  acceleration  existing under any
Mortgage Note or Mortgage and no event which,  with notice and expiration of any
grace or cure period, would constitute a default,  breach, violation or event of
acceleration,  and no such default,  breach,  violation or event of acceleration
has been waived by the Seller or by any other entity  involved in originating or
servicing a Mortgage Loan;

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               (g) There is no  delinquent  tax or  assessment  lien against any
Mortgaged Property;

               (h) No Mortgagor has any right of offset, defense or counterclaim
as to the related  Mortgage Note or Mortgage except as may be provided under the
Servicemembers  Civil Relief Act,  formerly  known as the Soldiers' and Sailors'
Civil  Relief Act of 1940 as  amended,  and except  with  respect to any buydown
agreement for a Buydown Mortgage Loan;

               (i) There are no  mechanics'  liens or claims for work,  labor or
material  affecting any Mortgaged  Property which are or may be a lien prior to,
or equal  with,  the lien of the  related  Mortgage,  except such liens that are
insured or  indemnified  against b