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FINANCIAL
GUARANTY
INSURANCE
POLICY
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Trust: As
described in Endorsement No. 1
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Policy No.:
51805-N
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Certificates:
$254,287,000 MASTR Adjustable Rate Mortgages Trust 2007-1
Mortgage Pass-Through Certificates, Series 2007-1, Class I-2A2, and
$204,639,000 MASTR Adjustable Rate Mortgages Trust 2007-1
Mortgage Pass-Through Certificates, Series 2007-1, Class
I-2A4
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Date of Issuance:
1/16/07
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FINANCIAL SECURITY
ASSURANCE INC. ("Financial Security"), for consideration received,
hereby UNCONDITIONALLY AND IRREVOCABLY GUARANTEES to each Trustee
for the benefit of each Holder, subject only to the terms of this
Policy (which includes each endorsement hereto), the full and
complete payment of Guaranteed Distributions with respect to the
Certificates of the Trust referred to above.
For the
further protection of each Holder, Financial Security irrevocably
and unconditionally guarantees payment of the amount of any
distribution of principal or interest with respect to the
Certificates made during the Term of this Policy to such Holder
that is subsequently avoided in whole or in part as a preference
payment under applicable law.
Payment
of any amount required to be paid under this Policy will be made
following receipt by Financial
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