Paper Tangible Converted Payment Intangible Copy-Scan-Destroy Paper Tangibles

Electronic Payment Intangible (Rights to Payments) Underlying Collateral Instruments Subject to Laws of Local Jurisdiction

Originator

Home Owner Paper Tangible Promissory Note Negotiable Instrument Home Owner Paper Tangible Mortgage Deed of Trust

Investment Trust Seller-Securitizer Purchase Paper Tangible Creates Payment Intangibles Packages Payment Intangibles Into a Securities Offering

Investment Trust Depositor Swaps Payment Intangible For Trust Certificates Takes Possession Paper Tangible As Collateral per PSA Owner/Holder

Investment Trust Trustee Accepts as Trustee Payment Intangible For Trust Takes Possession Paper Tangible As Collateral per PSA Owner/Holder

Investors Beneficial Interest in Certificates

Pool Collateral
MERS MERS as Nominee Originator LENDER “X1” Owner/Holder Tangible Note MERS MERS as Nominee Seller/Securitizer LENDER “X2” Owner/Holder Tangible Note Transfer Lien Perfection Subsequent Purchaser Paper Tangible Transfer Lien Perfection Subsequent Purchaser Paper Tangible MERS MERS as Nominee Depositor LENDER “X3” Owner/Holder Tangible Note MERS MERS as Nominee Trustee LENDER “X4” Owner/Holder Tangible Note Transfer Lien Perfection Subsequent Purchaser Paper Tangible Transfer Lien Perfection Subsequent Purchaser Paper Tangible MERS MERS as Nominee Certificate Holders LENDER “X5” Owner/Holder Tangible Note

Public Records

UCC Article 9

UCC Article 9

UCC Article 9

UCC Article 9

© Copyright 2010 j.mcguire

P O Box 1352, Bedford, Texas 76095-1353

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