ASSIGNMENT AND ASSUMPTION AGREEMENT

                                    ASSIGNMENT AND ASSUMPTION AGREEMENT

         ASSIGNMENT AND ASSUMPTION  AGREEMENT,  dated as of November 29, 2006, between  Residential Funding

Company,  LLC, a Delaware limited liability company ("RFC") and Residential Asset Mortgage Products,  Inc.,

a Delaware corporation (the "Company").

                                                 Recitals

         A.       RFC has entered into seller contracts ("Seller Contracts") with the seller/servicers.

         B.       The Company wishes to purchase from RFC certain Mortgage Loans  (as hereinafter  defined)

originated pursuant to the Seller Contracts with respect thereto.

         C.       The Company,  RFC, as master  servicer,  and U.S. Bank National  Association,  as trustee

and  supplemental  interest trust trustee (the  "Trustee" and the  "Supplemental  Interest Trust  Trustee;"

respectively),  are  entering  into a Pooling  and  Servicing  Agreement  dated as of November 1, 2006 (the

"Pooling and Servicing  Agreement"),  pursuant to which the Trust proposes to issue  Mortgage  Asset-Backed

Pass-Through   Certificates,   Series  2006-EFC2  (the  "Certificates")  consisting  of  seventeen  classes

designated as Class A-1, Class A-2, Class A-3, Class A-4, Class M-1S,  Class M-2S,  Class M-3S,  Class M-4,

Class M-5,  Class  M-6,  Class M-7,  Class M-8,  Class M-9,  Class B, Class SB and Class R-I and Class R-II

Certificates  representing  beneficial  ownership interests in a trust fund consisting  primarily of a pool

of mortgage loans identified in Exhibit G to the Pooling and Servicing Agreement (the "Mortgage Loans").

         D.       In connection with the purchase of the Mortgage  Loans,  the Company will assign to or at

the  direction  of  RFC  the  Class  R-I  and  Class  R-II   Certificates   (collectively,   the  "Retained

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 and to assign

certain of its rights under the Seller  Contracts to the Company,  and the Company wishes to assume certain

of RFC's obligations under the Seller Contracts.

         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 the Cut-off Date (other than  payments

of  principal  and  interest  due on the  Mortgage  Loans in  November   2006).  In  consideration  of such

assignment,  RFC will  receive  from the  Company,  in  immediately  available  funds,  an amount  equal to

$383,200,000  and the Retained  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. A Destroyed  Mortgage Note means a Mortgage Note the original

of which was permanently lost or destroyed.

         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 shall 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  obligation of

RFC.  However,  in the event that the  Mortgage  Loans are held to be property of RFC, or if for any reason

this Agreement is held or deemed to create a security  interest in the Mortgage Loans,  then it is intended

that (a) this Agreement  shall also be deemed to be 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 a grant by RFC to the

Company of a security  interest in all of RFC's right (including the power to convey title thereto),  title

and interest,  whether now owned or hereafter  acquired,  in and to (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 and  (ii)  with  respect  to each  Mortgage  Loan  other  than a

Cooperative  Loan,  the  Mortgage  Notes,  the  Mortgages,  any related  insurance  policies  and all other

documents  in the related  Mortgage  Files,  (B) all amounts  payable  pursuant  to the  Mortgage  Loans in

accordance with the terms thereof and (C) 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 and other  property of whatever kind or description

now existing or hereafter  acquired  consisting of,  arising from or relating to any of the foregoing,  and

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,  negotiable

documents or chattel  paper shall be deemed to be  "possession  by the secured  party",  or possession by a

purchaser or a person  designated by him, 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,  Section 9-305,  8-313 or 8-321 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,  financial

intermediaries,  bailees or agents (as  applicable)  of 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 deemed to create a

security  interest in the Mortgage Loans and the other property  described  above,  such security  interest

would be deemed 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 no 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.

3.       Concurrently  with the  execution and delivery  hereof,  the Company  hereby  assigns to or at the

direction  of  RFC  without  recourse  all  of its  right,  title  and  interest  in  and  to the  Retained

Certificates as part of the consideration payable to RFC by the Company pursuant to this Agreement.

4.       RFC  represents  and warrants to the Company,  with respect to each Mortgage Loan that on the date

of execution hereof (or, if otherwise specified below, as of the date so specified),

(a)      The  information  set forth in the  Mortgage  Loan  Schedule for such  Mortgage  Loans is true and

         correct in all material  respects as of the date or dates  respecting  which such  information  is

         furnished;

(b)      Each Mortgage Loan constitutes a qualified  mortgage under  Section 860G(a)(3)(A)  of the Code and

         Treasury Regulations Section 1.860G-2(a)(1);

(c)      Immediately  prior to the conveyance of the Mortgage Loans to the Trustee,  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 such conveyance

         validly  transfers  ownership of the  Mortgage  Loans to the Trustee free and clear of any pledge,

         lien, encumbrance or security interest;

(d)      Each  Mortgage  Note  constitutes  a  legal,   valid  and  binding  obligation  of  the  Mortgagor

         enforceable  in  accordance  with its terms except as limited by  bankruptcy,  insolvency or other

         similar laws affecting generally the enforcement of creditors' rights;

(e)      To the best of RFC's  knowledge as of the Cut-off  Date,  and except as noted in (h) below,  there

         is no  default,  breach,  violation  or event of  acceleration  existing  under  the  terms of 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  under the terms

         of  any  Mortgage  Note  or  Mortgage,  and  no  such  default,  breach,  violation  or  event  of

         acceleration has been waived by RFC or by any other entity involved in servicing a Mortgage Loan;

(f)      [Reserved];

(g)      The related  Mortgagor  is not  currently  in  bankruptcy  proceedings  with respect to any of the

         Mortgage Loans;

(h)      As of the Cut-Off  Date,  none of the Mortgage  Loans are 30 to 59 days  delinquent  in payment of

         principal  and interest and none of the Mortgage  Loans are 60 or more days  Delinquent in payment

         of principal and interest;

(i)      None of the Mortgage Loans are Buy-Down Mortgage Loans;

(j)      To the  best of RFC's  knowledge,  there is no  delinquent  tax or  assessment  lien  against  any

         related Mortgaged Property;

(k)      No Mortgagor has any valid 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;

(l)      No Mortgage Loan provides for payments that are subject to reduction by  withholding  taxes levied

         by any foreign (non-United States) sovereign government;

(m)      (1) The  proceeds of each  Mortgage  Loan have been fully  disbursed  and (2) to the best of RFC's

         knowledge,  there is no requirement  for future advances  thereunder and any and all  requirements

         as to completion of any on-site or off-site  improvements  and as to  disbursements  of any escrow

         funds therefor  (including any escrow funds held to make Monthly  Payments  pending  completion of

         such  improvements)  have been complied  with.  All costs,  fees and expenses  incurred in making,

         closing or recording the Mortgage Loans were paid;

(n)      To the best of RFC's  knowledge,  with  respect to each  Mortgage  Loan,  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 by a title insurance policy;

(o)      With respect to each  Mortgage  Loan, a policy of title  insurance was effective as of the closing

         of each  Mortgage  Loan,  is valid and binding,  and remains in full force and effect,  unless the

         Mortgaged  Properties  are  located in the State of Iowa and an  attorney's  certificate  has been

         provided;

(p)      Each  Mortgaged  Property is free of damage and in good repair and no notice of  condemnation  has

         been given with respect  thereto and RFC knows of nothing  involving any  Mortgaged  Property that

         could  reasonably be expected to materially  adversely  affect the value or  marketability  of any

         Mortgaged Property;

(q)      Each Mortgage contains  customary and enforceable  provisions which render the rights and remedies

         of the holder  adequate to realize the benefits of the security  against the  Mortgaged  Property,

         including  (i) in the case of a Mortgage  that is a deed of trust,  by trustee's  sale, or (ii) by

         judicial  foreclosure  or,  if  applicable,  non  judicial  foreclosure,  and to the best of RFC's

         knowledge,  there is no  homestead  or other  exemption  available  to the  Mortgagor  that  would

         interfere  with such right to sell at a trustee's  sale or right to  foreclosure,  subject in each

         case to applicable  federal and state laws and judicial  precedents with respect to bankruptcy and

         right of redemption;

(r)      To the best of RFC's  knowledge,  with respect to each Mortgage that is a deed of trust, a trustee

         duly qualified under  applicable law to serve as such is properly  named,  designated and serving,

         and except in connection  with a trustee's sale after default by a Mortgagor,  no fees or expenses

         are payable by the seller or RFC to the trustee under any Mortgage that is a deed of trust;

(s)      If the  improvements  securing a Mortgage Loan are located in a federal  designated  special flood

         hazard  area,  flood  insurance  in the  amount  required  under the  Program  Guide  covers  such

         Mortgaged  Property  (either by coverage under the federal flood insurance  program or by coverage

         from private insurers);

(t)      To the extent an appraisal  was made on a Mortgage  Loan,  the  appraisal was made by an appraiser

         who meets the minimum qualifications for appraisers as specified in the Program Guide;

(u)      Each Mortgage Loan is covered by a standard hazard insurance policy;

(v)      If any of the Mortgage Loans are secured by a leasehold  interest,  with respect to each leasehold

         interest:  the use of leasehold estates for residential  properties is an accepted practice in the

         area  where  the  related  Mortgaged  Property  is  located;  residential  property  in such  area

         consisting of leasehold  estates is readily  marketable;  the lease is recorded and no party is in

         any way in breach of any  provision of such lease;  the  leasehold is in full force and effect and

         is not subject to any prior lien or  encumbrance  by which the  leasehold  could be  terminated or

         subject to any charge or penalty  (other  than with  respect to any junior lien  Mortgage  Loans);

         and the  remaining