ALBA 2007 – 1 plc - Irish Stock Exchange

1. Lending Criteria
Subject to GMAC-RFC taking reasonable steps to verify it was the case, each Mortgage Loan
satisfied, or satisfied in all material respects, the relevant Lending Criteria and where discretion
is permitted or referred to therein, such discretion was exercised by an underwriter of GMAC-
RFC in accordance with the policies of GMAC-RFC.
2. Standard Documentation
Each Mortgage Loan and its Related Security has been made in accordance with the standard
documentation. The relevant product specifications have been included within the terms of each
Mortgage Loan and there are no product specifications applicable to the Mortgage Pool other
than the product specifications. Where special conditions have been used, they are either the
special conditions appropriate for the product specification or are not related to a particular
product specification but are such as would be required for a prudent mortgage lender in the
circumstances of the particular Mortgage Loan.
3. The Seller's Title
The Seller is the absolute legal and beneficial owner of the Mortgage Loans, their Related
Security and the other property to be sold and/or assigned to the Issuer under the Mortgage Sale
Agreement free from all security interests.
4. General
(a)
(b)
(c)
(d)
(e)
(f)
(g)
(h)
(i)
The terms of each Mortgage Loan and its Related Security constitutes a valid and
binding obligation of each Borrower in respect of such Mortgage Loan enforceable in
accordance with its terms save where such enforceability may be limited in certain
circumstances.
No lien or right of set-off or compensation has been created or arisen or now exists
between the Seller and any Borrower in relation to the Mortgage Loans which would
entitle such Borrower to reduce the amount of any payment otherwise due under the
Mortgage Loan.
The Seller has not received written notice of any litigation or claim (including, without
limitation, forfeiture proceedings) relating to any Mortgage Loan or Related Security.
The Seller has complied with the applicable provisions of MCOB.
Each Property is situated in England or Wales.
No Borrower is an employee of the Seller.
No Mortgage Loan has a final maturity beyond the date falling two years prior to the
Final Payment Date of the Notes.
Each Title Insurance Policy is in full force and effect and all premiums thereon due on
or before the completion date of the sale and purchase of the Mortgage Loans have
been paid in full.
The Seller has not knowingly waived or acquiesced in any breach of any of its rights
in respect of a Mortgage Loan or Related Security.