EX-99.8 77 v066009_ex99-8.htm Unassociated Document
SWISS RE FINANCIAL PRODUCTS CORPORATION
55 East 52nd Street
New York, New York 10055
Fax: (917) 322-7201/Phone: (212) 407-7322
 
DATE:
January 31, 2007
   
TO:
Supplemental Interest Trust,
 
Structured Adjustable Rate Mortgage Loan Trust, Series 2007-1
 
c/o Wells Fargo Bank, N. A.
 
9062 Old Annapolis Road
 
Columbia, MD 21045 ("Party B")
   
FROM:
Swiss Re Financial Products Corporation (“Party A”)
   
RE:
Swap Transaction
 
Dear Sir or Madam:

The purpose of this letter agreement (this “Confirmation”) is to confirm the terms and conditions of the transaction entered into between us on the Trade Date specified below (the “Transaction”).
 
The definitions and provisions contained in the 2000 ISDA Definitions as published by the International Swaps and Derivatives Association, Inc. are incorporated into this Confirmation. In the event of any inconsistency between those definitions and provisions and this Confirmation, this Confirmation will govern.
 
This Confirmation constitutes a “Confirmation” as referred to in, and supplements, forms part of and is subject to, the ISDA Master Agreement dated as of January 31, 2007, as amended and supplemented from time to time (the “Agreement”) between Party A and Party B. All provisions contained in the Agreement govern this Confirmation except as expressly modified below.
 
1.
The Swap Transaction to which this Confirmation relates is a Rate Swap Transaction, the terms of which are as follows:
 
 
General Terms
  
     
 
Trade Date:
January 25, 2007
     
 
Effective Date:
February 26, 2007
     
 
Termination Date:
December 25, 2011, subject to adjustment in accordance with the Modified Following Business Day Convention
     
 
Notional Amount:
See Amortization Schedule, Schedule A

 
 
 


 
Fixed Amounts:
  
     
 
Fixed Rate Payer:
Party B
     
 
Fixed Rate Payer  Period End Dates:
The 25th day of each month of each year, commencing on March 25, 2007 to and including the Termination Date, subject to adjustment in accordance with the Modified Following Business Day Convention.
     
 
Fixed Rate Payer Payment Dates:
Early Payment, one (1) Business Day preceding each Fixed Rate Payer Period End Date.
     
 
Fixed Rate
See Amortization Schedule, Schedule A
     
 
Fixed Rate Day Count  Fraction:
Actual/360
     
 
Floating Amounts:
  
     
 
Floating Rate Payer:
Party A
     
 
Floating Rate Payer Period End Dates:
The 25th day of each month of each year, commencing on March 25, 2007 to and including the Termination Date, subject to adjustment in accordance with the Modified Following Business Day Convention.
     
 
Floating Rate Payer Payment Dates:
Early Payment, one (1) Business Day preceding each Floating Rate Payer Period End Date.
     
 
Floating Rate Option:
USD-LIBOR-BBA
     
 
Designated Maturity:
One month
     
 
Spread:
None
     
 
Floating Rate Day Count Fraction:
Actual/360
     
 
Reset Dates:
The first day of each Calculation Period.
     
 
Compounding:
Inapplicable
     
 
Business Day:
Any day other than (i) a Saturday or a Sunday, or (ii) a day on which banking institutions in (1) the city in which the Corporate Trust Office of Party B is located or (2) the States of New York, Colorado or Illinois are closed.
     
 
Floating Rate Payer Upfront Payment:
$215,000. Party A shall pay Lehman Brothers Holdings Inc. the Floating Rate Payer Upfront Payment on or prior to January 31, 2007, subject to adjustment in accordance with the Following Business Day Convention.
     

 
2
 


2.
Procedural Terms:
  
     
 
Calculation Agent:
Party A
     
 
Offices:
The Office of Party A for the Swap Transaction is New York.
     
 
Account Details:
  
     
 
Payments to Party A:
JPMorgan Chase Bank
ABA # 021000021
SWIFT: CHASUS33
For the Account of Swiss Re Financial Products Corporation
Account No.:    
     
 
Payments to Party B:
WELLS FARGO BANK, NA
ABA# 121000248
FOR CREDIT TO: SAS Clearing
ACCT: 3970771416
FFC: 50983100
Ref: SARM 2007-1
Attn: Scott Runkles
     


 
3
 
 
SWISS RE FINANCIAL PRODUCTS CORPORATION
 
 
By: ________________________________________
Authorized Signatory
 
Accepted and confirmed as of the Trade Date written above:
 
STRUCTURED ADJUSTABLE RATE MORTGAGE LOAN TRUST, SERIES 2007-1
By: Wells Fargo Bank, N.A., not in its individual capacity, but solely as Trustee

By:________________________________
Name:
Title:
 

 
4
 

SCHEDULE A to the Confirmation dated as of January 31, 2007
Re: Reference Number 1247682

Amortization Schedule
(subject to adjustment in accordance with the Modified Following Business Day Convention)

From and including
To but excluding
Notional Amount (USD)
Fixed Rate (%)
2/26/2007
3/25/2007
332,888,163.68
5.44692
3/25/2007
4/25/2007
321,131,533.04
5.44440
4/25/2007
5/25/2007
309,790,006.58
5.43149
5/25/2007
6/25/2007
298,725,491.81
5.41802
6/25/2007
7/25/2007
288,175,083.32
5.41339
7/25/2007
8/25/2007
277,997,198.55
5.39221
8/25/2007
9/25/2007
268,178,686.94
5.36970
9/25/2007
10/25/2007
258,706,862.05
5.33651
10/25/2007
11/25/2007
249,569,485.24
5.30255
11/25/2007
12/25/2007
240,754,749.82
5.26911
12/25/2007
1/25/2008
232,251,265.81
5.22372
1/25/2008
2/25/2008
224,048,045.28
5.19225
2/25/2008
3/25/2008
214,697,619.74
5.16134
3/25/2008
4/25/2008
205,737,350.22
5.13484
4/25/2008
5/25/2008
197,150,959.75
5.11599
5/25/2008
6/25/2008
188,922,850.34
5.09719
6/25/2008
7/25/2008
181,038,074.63
5.08920
7/25/2008
8/25/2008
173,482,308.76
5.07906
8/25/2008
9/25/2008
166,241,826.40
5.06832
9/25/2008
10/25/2008
159,303,473.78
5.05780
10/25/2008
11/25/2008
152,654,645.84
5.05194
11/25/2008
12/25/2008
146,283,263.33
5.04635
12/25/2008
1/25/2009
140,177,750.88
5.04353
1/25/2009
2/25/2009
134,327,015.99
5.04515
2/25/2009
3/25/2009
127,790,459.40
5.04596
3/25/2009
4/25/2009
121,571,934.06
5.03828
4/25/2009
5/25/2009
115,655,968.44
5.04441
5/25/2009
6/25/2009
110,027,843.58
5.05014
6/25/2009
7/25/2009
104,673,556.48
5.05612
7/25/2009
8/25/2009
99,579,785.28
5.06224
8/25/2009
9/25/2009
94,733,856.15
5.06826
9/25/2009
10/25/2009
90,123,711.74
5.07439
10/25/2009
11/25/2009
85,737,881.23
5.08048
11/25/2009
12/25/2009
81,565,451.76
5.08676
12/25/2009
1/25/2010
77,596,041.33
5.09302
1/25/2010
2/25/2010
73,819,772.97
5.09955
2/25/2010
3/25/2010
70,227,250.15
5.10599
3/25/2010
4/25/2010
66,809,533.45
5.11238
4/25/2010
5/25/2010
63,558,118.31
5.11881
5/25/2010
6/25/2010
60,464,913.85
5.12479
6/25/2010
7/25/2010
57,522,222.82
5.13078
7/25/2010
8/25/2010
54,722,722.37
5.13664

 
5
 


 
From and including
To but excluding
Notional Amount (USD)
Fixed Rate (%)
8/25/2010
9/25/2010
52,059,445.90
5.14226
9/25/2010
10/25/2010
49,525,765.70
5.14780
10/25/2010
11/25/2010
47,115,376.49
5.15315
11/25/2010
12/25/2010
44,822,279.71
5.15836
12/25/2010
1/25/2011
42,640,768.61
5.16341
1/25/2011
2/25/2011
40,565,414.08
5.16910
2/25/2011
3/25/2011
38,591,051.11
5.17545
3/25/2011
4/25/2011
36,712,765.96
5.18165
4/25/2011
5/25/2011
34,888,171.14
5.18750
5/25/2011
6/25/2011
33,190,077.77
5.19305
6/25/2011
7/25/2011
31,562,267.93
5.19840
7/25/2011
8/25/2011
29,975,234.18
5.20341
8/25/2011
9/25/2011
28,500,713.56
5.20819
9/25/2011
10/25/2011
26,696,525.41
5.21265
10/25/2011
11/25/2011
24,741,906.32
5.21686
11/25/2011
12/25/2011
23,097,195.95
5.22079

 
 
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