CWABS, INC., Depositor COUNTRYWIDE HOME LOANS, INC., Seller PARK SIENNA LLC, Seller PARK GRANADA LLC, Seller COUNTRYWIDE HOME LOANS SERVICING LP, Master Servicer and THE BANK OF NEW YORK, Trustee AMENDMENT NO. 1 dated as of May 22, 2007 to the POOLING AND SERVICING AGREEMENT Dated as of February 1, 2007 ASSET-BACKED CERTIFICATES, SERIES 2007-BC1

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CWABS, INC.,

Depositor

 

COUNTRYWIDE HOME LOANS, INC.,

Seller

 

PARK SIENNA LLC,

Seller

 

PARK GRANADA LLC,

Seller

 

COUNTRYWIDE HOME LOANS SERVICING LP,

Master Servicer

 

and

 

THE BANK OF NEW YORK,

Trustee

 

 

AMENDMENT NO. 1 dated as of

May 22, 2007 to the

 

POOLING AND SERVICING AGREEMENT

 

Dated as of February 1, 2007

 

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ASSET-BACKED CERTIFICATES, SERIES 2007-BC1

 

 

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AMENDMENT NO. 1 dated as of May 22, 2007, among CWABS, INC., a Delaware corporation, as depositor (the “Depositor”), COUNTRYWIDE HOME LOANS, INC., a New York corporation, as seller (“CHL” or a “Seller”), PARK GRANADA LLC., a Delaware limited liability company, as a seller (“Park Granada” or a “Seller”), PARK SIENNA LLC, a Delaware limited liability company, as a seller (“Park Sienna” or a “Seller”, and together with CHL and Park Granada, the “Sellers”), COUNTRYWIDE HOME LOANS SERVICING LP, a Texas limited partnership, as master servicer (the “Master Servicer”), and THE BANK OF NEW YORK, a New York banking corporation, as trustee (the “Trustee”).

 

Preliminary Statement

 

The Depositor, the Trustee, the Sellers and the Master Servicer entered into a Pooling and Servicing Agreement (the “Agreement”), dated as of February 1, 2007, relating to the issuance of Asset-Backed Certificates, Series 2007-BC1. This amendment is made pursuant to Section 10.01 of the Agreement.

 

In consideration of the mutual premises and agreements herein, the Depositor, the Trustee, the Sellers and the Master Servicer agree as follows:

 

1.	Capitalized terms not defined herein have the meanings assigned to them in the Agreement.

 

2.	Section 2.03(a)(77)(C) is hereby amended as follows (revised language underlined):

 

“As part of the due diligence process relating to the Certificates, CHL reviewed a statistically significant sampling of 33 mortgage loans proposed for inclusion in Loan Group 1 and confirmed the following: none of the mortgage loans sampled exceed the thresholds set by HOEPA and its implementing regulations, including 12 CFR § 226.32(a)(1)(i). CHL confirms that (a) the Mortgage Loans sampled include refinance and purchase money mortgage loans; (b) the sampling was done using methodology ordinarily and customarily used by underwriters of residential mortgage-backed securities to diligence pools of residential mortgage loans, and (c) it is not aware of any mortgage loans that were not sampled that exceed the thresholds set by HOEPA;”

 

IN WITNESS WHEREOF, the parties hereto have caused their names to be signed hereto by their respective officers thereunto duly authorized as of the day and year first above written.

 

	CWABS, INC., as Depositor
	By:	/s/ Michael Schloessmann
		Name: Michael Schloessmann
		Title: Managing Director

 

	COUNTRYWIDE HOME LOANS SERVICING LP, as Master Servicer
	By:	COUNTRYWIDE GP, INC.
	By:	/s/ Michael Schloessmann
		Name: Michael Schloessmann
		Title: Managing Director

 

	THE BANK OF NEW YORK, as Trustee
	By:	/s/ William J. Herrmann
		Name:  William J. Herrmann
		Title:  Assistant Treasurer

	COUNTRYWIDE HOME LOANS, INC., as a Seller
	By:	/s/ Michael Schloessmann
		Name: Michael Schloessmann
		Title: Managing Director

 

	PARK SIENNA LLC, as a Seller
	By:	/s/ Michael Schloessmann
		Name: Michael Schloessmann
		Title: Managing Director

	PARK GRANADA LLC, as a Seller
	By:	/s/ Michael Schloessmann
		Name: Michael Schloessmann
		Title: Managing Director