EX 10.2 ASSIGNMENT AND ASSUMPTION AGREEMENT

                                                                                Execution Copy

                             ASSIGNMENT AND ASSUMPTION AGREEMENT

               ASSIGNMENT  AND  ASSUMPTION   AGREEMENT,   dated  November  29,  2006,  between

Residential Funding Company,  LLC, 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

November 1, 2006 (the "Series  Supplement"),  and the Standard  Terms of Pooling and Servicing

Agreement,   dated  as  of  November  1,  2006  (collectively,   the  "Pooling  and  Servicing

Agreement"),   pursuant  to  which  the  Company  proposes  to  issue  Mortgage   Asset-Backed

Pass-Through  Certificates,  Series  2006-QS16  (the  "Certificates")  consisting  of  fifteen

classes  designated as Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class

A-7, Class A-8, Class A-9, Class A-10,  Class A-11,  Class A-P, Class A-V, Class R-I and Class

R-II   Certificates;   and  six  classes  designated  as  Class  M-1,  Class  M-2,  Class  M-3

(collectively  the "Class M  Certificates"),  Class B-1, Class B-2 and Class B-3  Certificates

(collectively the "Class B 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 the Class A-P  Certificates  and Class A-V Certificates and a de minimis portion

of each of the Class R-I and Class R-II 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,  and with respect to the Sharia  Mortgage Loans,

all  amounts in respect of profit  payments  and  acquisition  payments,  received  on or with

respect to the Mortgage  Loans after  November 1, 2006 (other than  payments of principal  and

interest,  and with  respect to the Sharia  Mortgage  Loans,  all amounts in respect of profit

payments  and  acquisition  payments  due on the  Mortgage  Loans on or  before  November  30,

2006).  In  consideration  of such  assignment,  RFC or its  designee  will  receive  from the

Company in  immediately  available  funds an amount  equal to  $751,374,200.39,  the Class A-P

Certificates,  the Class A-V  Certificates  and a de minimis  portion of each of the Class R-I

and  Class  R-II  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 or security  instrument,  as  applicable,  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,  LLC  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  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 Sharia  Mortgage  Loan, the related Sharia

Mortgage Loan Security  Instrument,  Sharia Mortgage Loan Co-Ownership  Agreement,  Obligation

to Pay,  Assignment  Agreement and Amendment of Security  Instrument,  any insurance  policies

and all other documents in the related  Mortgage File and (iii) with  respect to each Mortgage

Loan other than a Cooperative  Loan or a Sharia Mortgage 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.

               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 the Class A-P

Certificates,  the Class A-V  Certificates  and a de minimis  portion of each of the Class R-I

and  Class  R-II  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 is  required  to be covered  by a  standard  hazard

insurance  policy.  Except  in the  case  of  approximately  0.3% of the  aggregate  principal

balance of the Mortgage Loans,  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;

               (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 by a

title insurance policy described under clause (aa) below;

               (j)    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;

               (k)    Each  Mortgage  Loan at the time it was made  complied  in all  material

respects with applicable local,  state, and federal laws,  including,  but not limited to, all

applicable anti-predatory lending laws;

               (l)    Each  Mortgage  contains  customary