Carrington Mortgage Loan Trust, Series 2007-RFC1 8-K Other Events

CONFIRMATION

TO:	Wells Fargo Bank, N.A., not individually but solely as trustee for Carrington Mortgage Loan Trust, Series 2007-RFC1 with respect to the Carrington Mortgage Loan Trust, Series 2007-RFC1 Asset-Backed Pass-Through Certificates
	9062 Old Annapolis Road
	Columbia, Maryland 21045
Attention:	Client Manager-Carrington Mortgage Loan Trust, 2007-RFC1
Telephone:	(410) 884-2000
Facsimile:	(410) 715-2380
FROM:	Swiss Re Financial Products Corporation
	55 East 52nd Street
	New York, New York 10055
Attention:	Head of Operations
Telephone:	(212) 407-7322
Facsimile.	(917) 322-7201
CC:
Attention:	Head of Legal
Facsimile:	(212) 317-5474
DATE:	January 25, 2007

Transaction Reference Number: 1236882 - Class A Certificates

Dear Sir/Madam,

The purpose of this letter agreement is to confirm the terms and conditions of the transaction entered into between Wells Fargo Bank, N.A., not individually but solely as trustee for Carrington Mortgage Loan Trust, Series 2007-RFC1 with respect to the Carrington Mortgage Loan Trust, Series 2007-RFC1 Asset-Backed Pass-Through Certificates, and Swiss Re Financial Products Corporation, a corporation organized under the laws of the State of Delaware (each a “party” and together “the parties”) on the Trade Date specified below (the “Transaction”). This letter agreement constitutes a “Confirmation” as referred to in the ISDA Master Agreement specified in paragraph 1 below. In this Confirmation, “Party A” means Swiss Re Financial Products Corporation, and “Party B” means Carrington Mortgage Loan Trust, Series 2007-RFC1, by Wells Fargo Bank, N.A., not individually but solely as trustee for Carrington Mortgage Loan Trust, Series 2007-RFC1 with respect to the Carrington Mortgage Loan Trust, Series 2007-RFC1 Asset-Backed Pass-Through Certificates.

The definitions and provisions contained in the 2000 ISDA Definitions, as published by the International Swaps and Derivatives Association, Inc. (the “Definitions”), are incorporated into this Confirmation. In the event of any inconsistency between the Definitions and this Confirmation, this Confirmation will govern.

Other capitalized terms used herein (but not otherwise defined) shall have the meaning specified in that certain Pooling and Servicing Agreement, dated as of January 1, 2007 (the “Pooling and Servicing Agreement”), among Stanwich Asset Acceptance Company, L.L.C., as Depositor, Residential Funding Company, LLC, as Servicer, and Wells Fargo Bank, N.A., as Trustee (the “Trustee”).

1.This Confirmation evidences a complete binding agreement between the parties as to the terms of the Transaction to which this Confirmation relates. In addition, the parties agree that for the purposes of this Transaction, this Confirmation will supplement, form a part of, and be subject to that 1992 ISDA Master Agreement (the “Master Agreement”) dated as of January 25, 2007, between the parties. In the event of any inconsistency between the provisions of the Master Agreement and this Confirmation, this Confirmation will prevail for the purpose of this Transaction.

2.The terms of the particular Transaction to which this Confirmation relates are as follows:

Notional Amount:	As set forth in Schedule A attached hereto
Trade Date:	January 16, 2007
Effective Date:	January 25, 2007
Termination Date:	September 25, 2010, subject to adjustment in accordance with the Following Business Day Convention with respect to Floating Amounts and subject to No Adjustment with respect to Fixed Amounts.
Fixed Amounts:
Fixed Rate Payer:	Party B
Fixed Rate Payer Payment Dates:	The business day prior to the 25th of each month subject to adjustment in accordance with the Following Business Day Convention.
Fixed Rate Payer Period End Dates:	The 25th of each month, commencing on February 25, 2007 and ending on the Termination Date, with No Adjustment.
Fixed Rate:	5.10%
Fixed Rate Day Count Fraction:	30/360
Floating Amounts:
Floating Rate Payer:	Party A
Floating Rate Payer Payment Dates:	The business day prior to the 25th of each month subject to adjustment in accordance with the Following Business Day Convention.
Floating Rate Payer Period End Dates:	The 25th of each month, commencing on February 25, 2007 in accordance with the Following Business Day Convention.
Floating Rate for initial Calculation Period:	To be determined
Floating Rate Option:	USD-LIBOR-BBA
Designated Maturity:	One month
Spread:	None
Floating Rate Day Count Fraction:	Actual/360
Reset Date:	First day of each Calculation Period
Compounding:	Inapplicable
Floating Rate Payer Upfront Payment:	$1,117,000. Party B shall pay the Floating Rate Payer Upfront Payment on or prior to January 25, 2007, subject to adjustment in accordance with the Following Business Day Convention.
Business Days:	New York
Calculation Agent:	Party A; provided, however, if an Event of Default has occurred with respect to Party A, a Reference Market-maker, as designated by Party B, shall be the Calculation Agent.

3.Account Details.

Account for payments to Party A:

PAYMENT INSTRUCTION:	JP Morgan Chase Bank
	ABA#: 021-000-021
	Swift: CHASUS33
	For the Account of Swiss Re Financial Products
	ACCT #: 066-911184
Account for payments to Party B:
PAYMENT INSTRUCTION:	Wells Fargo Bank, National Association
	ABA#: 121-000-248
	ACCT #: 3970771416
	ACCT NAME: Corporate Trust Clearing
	For further credit to ACCT #: 50978601
	REF: Client Manager - Carrington Mortgage Loan Trust 2007-RFC1

4.Please confirm that the foregoing correctly sets forth the terms and conditions of our agreement by returning within three (3) Business Days via telecopier an executed copy of this Confirmation. Failure to respond within such period shall not affect the validity or enforceability of this Transaction.

Yours sincerely,

SWISS RE FINANCIAL PRODUCTS CORPORATION

By:  /s/ Robert Spuler

Name: Robert Spuler

Title: Senior Vice President

Confirmed as of the date above:

By: WELLS FARGO BANK, N.A., not individually but solely as trustee for Carrington Mortgage Loan Trust, Series 2007-RFC1 with respect to the Carrington Mortgage Loan Trust, Series 2007-RFC1 Asset-Backed Pass-Through Certificates

By:/s/ Darron C. Woodus

Name: Darron C. Woodus

Title: Assistant Vice President

SCHEDULE A to the Confirmation dated as of January 25, 2007,

Re: Reference Number 1236882

Amortization Schedule. Floating Rate Payer Period End Dates shall besubject to adjustment in accordance with the Following Business Day Convention, however, Fixed Rate Payer Period End Dates will use No Adjustment.

From and including	To but excluding	Notional Amount (USD)
January 25, 2007	February 25, 2007	837,769,000.00
February 25, 2007	March 25, 2007	822,320,192.36
March 25, 2007	April 25, 2007	805,149,719.36
April 25, 2007	May 25, 2007	786,530,928.84
May 25, 2007	June 25, 2007	765,106,589.97
June 25, 2007	July 25, 2007	740,959,746.57
July 25, 2007	August 25, 2007	714,202,251.93
August 25, 2007	September 25, 2007	684,976,699.28
September 25, 2007	October 25, 2007	653,489,775.37
October 25, 2007	November 25, 2007	621,209,045.56
November 25, 2007	December 25, 2007	590,415,960.50
December 25, 2007	January 25, 2008	561,050,992.57
January 25, 2008	February 25, 2008	533,047,106.89
February 25, 2008	March 25, 2008	506,340,445.07
March 25, 2008	April 25, 2008	480,870,173.67
April 25, 2008	May 25, 2008	456,578,339.81
May 25, 2008	June 25, 2008	433,409,733.76
June 25, 2008	July 25, 2008	411,311,758.14
July 25, 2008	August 25, 2008	390,050,208.74
August 25, 2008	September 25, 2008	361,330,878.94
September 25, 2008	October 25, 2008	319,044,982.05
October 25, 2008	November 25, 2008	282,204,816.12
November 25, 2008	December 25, 2008	250,079,051.17
December 25, 2008	January 25, 2009	222,062,624.24
January 25, 2009	February 25, 2009	200,885,522.82
February 25, 2009	March 25, 2009	188,442,043.82
March 25, 2009	April 25, 2009	176,653,320.35
April 25, 2009	May 25, 2009	165,472,707.22
May 25, 2009	June 25, 2009	165,472,707.22
June 25, 2009	July 25, 2009	165,472,707.22
July 25, 2009	August 25, 2009	165,472,707.22
August 25, 2009	September 25, 2009	155,635,124.76
September 25, 2009	October 25, 2009	145,586,035.18
October 25, 2009	November 25, 2009	136,401,037.59
November 25, 2009	December 25, 2009	128,004,892.04
December 25, 2009	January 25, 2010	120,338,024.03
January 25, 2010	February 25, 2010	114,031,206.53
February 25, 2010	March 25, 2010	108,486,900.70
March 25, 2010	April 25, 2010	103,239,082.11

From and including	To but excluding	Notional Amount (USD)
April 25, 2010	May 25, 2010	98,262,419.20
May 25, 2010	June 25, 2010	93,541,758.14
June 25, 2010	July 25, 2010	89,063,074.92
July 25, 2010	August 25, 2010	84,813,290.63
August 25, 2010	September 25, 2010	80,780,062.81