AMENDMENT NUMBER THREE
to the
AMENDED AND RESTATED PURCHASE, WARRANTIES
AND SERVICING AGREEMENT
dated as of December 1, 2004
between
UBS REAL ESTATE SECURITIES
INC.
and
SUNTRUST MORTGAGE, INC.
This AMENDMENT NUMBER THREE is made this
1st day of April, 2006, by and between SunTrust Mortgage, Inc. (the
“ Seller ”) and UBS Real Estate Securities Inc.
(the “ Purchaser ”), to the Amended and Restated
Purchase, Warranties and Servicing Agreement, dated as of December
1, 2004, by and between the Seller and the Purchaser (the “
Agreement ”).
RECITALS
WHEREAS, the Seller and the Purchaser
have agreed to amend the Agreement as set forth herein.
NOW THEREFORE, for good and valuable
consideration, the receipt and sufficiency of which are hereby
acknowledged, and for the mutual covenants herein contained, the
parties hereto hereby agree as follows:
SECTION 1.
Amendments .
(a)
Section 3.02 of the Agreement is hereby
amended by deleting subsection (eee) thereof in its entirety and
replacing it with the following:
(eee)
No Mortgagor was required to purchase any
single premium credit insurance policy (e.g., life, mortgage,
disability, accident, unemployment, or health insurance product) or
debt cancellation agreement as a condition of obtaining the
extension of credit. No Mortgagor obtained a prepaid single premium
credit insurance policy (e.g., life, mortgage, disability,
accident, unemployment, or health insurance product) in connection
with the origination of the Mortgage Loan; No proceeds from any
Mortgage Loan were used to purchase single premium credit insurance
policies or debt cancellation agreements as part of the origination
of, or as a condition to closing, such Mortgage Loan;
(b)
Section 3.02 of the Agreement is hereby
amended by deleting subsection (ggg) thereof in its entirety and
replacing it with the following:
(ggg)
No Mortgage Loan is a “High Cost
Home Loan” as defined in the Indiana Home Loan Practices Act,
effective January 1, 2005 (Ind. Code Ann. Sections 24-9-1 through
24-9-9);
(c)
Section 3.02 of the Agreement is hereby
amended by deleting subsection (hhh) thereof in its entirety and
replacing it with the following:
(hhh)
All points and fees related to each
Mortgage Loan were disclosed in writing to the related Mortgagor in
accordance with applicable state and federal laws and regulations.
No related Mortgagor was charged “points and
fees” (whether or not financed) in an amount greater than (a)
$1,000 or (b) 5% of the principal amount of such loan, whichever is
greater, such 5% limitation is calculated in accordance with
FNMA’s anti-predatory lending requirements as set forth in
the FNMA Guides. For purposes of this representation,
“points and fees” (a) include origination,
underwriting, broker and finder’s fees and other charges that
the lender imposed as a condition of making the loan, whether they
are paid to the lender or a third party, and (b) exclude bona fide
discount points, fees paid for actual services rendered in
connection with the origination of the mortgage (such as
attorneys’ fees, notaries fees and fees paid for property
appraisals, credit reports, surveys, title examinations and
extracts, flood and tax certifications, and home inspections); the
cost of mortgage insurance or credit-risk price adjustments; the
costs of title, hazard, and flood insu
