10-D 1 mna07or3_10d-200712.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 10-D ASSET-BACKED ISSUER DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the monthly distribution period from: November 27, 2007 to December 26, 2007 Commission File Number of issuing entity: 333-140436-20 Merrill Lynch Alternative Note Asset Trust, Series 2007-OAR3 (Exact name of issuing entity as specified in its charter) Commission File Number of depositor: 333-140436 Merrill Lynch Mortgage Investors, Inc. (Exact name of depositor as specified in its charter) Merrill Lynch Mortgage Lending, Inc. (Exact name of sponsor as specified in its charter) New York (State or other jurisdiction of incorporation or organization of the issuing entity) 54-2200049 54-2200050 54-2200051 54-6755288 54-6755289 (I.R.S. Employer Identification No.) c/o Wells Fargo Bank, N.A. 9062 Old Annapolis Road Columbia, MD 21045 (Address of principal executive offices of the issuing entity) (Zip Code) (410) 884-2000 (Telephone number, including area code) Not Applicable (Former name, former address, if changed since last report) Registered/reporting pursuant to (check one) Title of Section Section Section Name of Exchange Class 12(b) 12(g) 15(d) (If Section 12(b)) A-1 _____ _____ __X___ ____________ A-2 _____ _____ __X___ ____________ A-3 _____ _____ __X___ ____________ R _____ _____ __X___ ____________ M-1 _____ _____ __X___ ____________ M-2 _____ _____ __X___ ____________ M-3 _____ _____ __X___ ____________ M-4 _____ _____ __X___ ____________ M-5 _____ _____ __X___ ____________ M-6 _____ _____ __X___ ____________ B-1 _____ _____ __X___ ____________ B-2 _____ _____ __X___ ____________ B-3 _____ _____ __X___ ____________ C _____ _____ __X___ ____________ P _____ _____ __X___ ____________

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes __X__ No ____ Part I - DISTRIBUTION INFORMATION Item 1. Distribution and Pool Performance Information On December 26, 2007 a distribution was made to holders of Merrill Lynch Alternative Note Asset Trust, Series 2007-OAR3. The distribution report is attached as an Exhibit to this Form 10-D. Please see Item 9(b), Exhibit 99.1 for the related information. Part II - OTHER INFORMATION Item 9. Exhibits. (a) The following is a list of documents filed as part of this Report on Form 10-D: (99.1) Monthly report distributed to holders of Merrill Lynch Alternative Note Asset Trust, Series 2007-OAR3, relating to the December 26, 2007 distribution. (b) The exhibits required to be filed by the Registrant pursuant to this Form are listed above and in the Exhibit Index that immediately follows the signature page hereof. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Merrill Lynch Alternative Note Asset Trust, Series 2007-OAR3 (Issuing Entity) Wells Fargo Bank, N.A. (Master Servicer) /s/ Elisabeth A. Brewster Elisabeth A. Brewster, Vice President Date: January 4, 2008 EXHIBIT INDEX Exhibit Number Description EX-99.1 Monthly report distributed to holders of Merrill Lynch Alternative Note Asset Trust, Series 2007-OAR3, relating to the December 26, 2007 distribution. EX-99.1 Merrill Lynch Alternative Note Asset Trust Mortgage Pass-Through Certificates Distribution Date: 12/26/2007 Merrill Lynch Alternative Note Asset Trust Mortgage Pass-Through Certificates Series 2007-OAR3 Contact: Customer Service - CTSLink Wells Fargo Bank, N.A. Securities Administration Services 8480 Stagecoach Circle Frederick, MD 21701-4747 www.ctslink.com Telephone: 1-866-846-4526 Fax: 240-586-8675

Certificateholder Distribution Summary Class CUSIP Record Certificate Beginning Interest Date Pass-Through Certificate Distribution Rate Balance A-1 59024JAA4 1011/3130/2007 54.~~06250~~97313% ~~211~~210,~~679~~914,~~234~~929.4296 ~~952~~874,~~556~~089.5547 A-2 59024JAB2 1011/3130/2007 5.~~11250~~02313% 8887,~~198~~879,~~293~~838.7758 ~~400~~367,~~812~~859.2588 A-3 59024JAC0 1011/3130/2007 5.~~16250~~07313% 52,~~918~~727,~~584~~512.5787 ~~242~~222,~~837~~911.5027 R 59024JAR7 1011/3130/2007 54.~~06250~~97313% 0.00 0.00 M-1 59024JAD8 1011/3130/2007 5.~~37250~~28313% 7,087,000.00 3331,~~844~~201.3629 M-2 59024JAE6 1011/3130/2007 5.~~42250~~33313% 5,907,000.00 2826,~~471~~252.7433 M-3 59024JAF3 1011/3130/2007 5.~~62250~~53313% 3,150,000.00 1514,~~743~~524.0047 M-4 59024JAG1 1011/3130/2007 5.~~97250~~88313% 2,362,000.00 1211,~~539~~579.6096 M-5 59024JAH9 1011/3130/2007 6.~~17250~~08313% 1,575,000.00 87,~~641~~984.5011 M-6 59024JAJ5 1011/3130/2007 6.~~37250~~28313% 2,166,000.00 1211,~~269~~341.1905 B-1 59024JAK2 1011/3130/2007 6.~~37250~~28313% 1,968,000.00 1110,~~147~~304.6333 B-2 59024JAL0 1011/3130/2007 6.~~37250~~28313% 1,772,000.00 109,~~037~~278.4009 B-3 59024JAM8 1011/3130/2007 6.~~37250~~28313% 1,968,000.00 1110,~~147~~304.6333 C 59024JAN6 1011/3130/2007 0.00000% 5,512,470.73 ~~474~~200,~~407~~154.2355 P 59024JAP1 1011/3130/2007 0.00000% 0.00 ~~23,784~~0.8600 Totals ~~386~~384,~~263~~989,~~583~~752.4914 21,~~238~~797,~~240~~785.4413

Certificateholder Distribution Summary (continued) Class Principal Current Ending Total Cumulative Distribution Realized Certificate Distribution Realized Loss Balance Losses A-1 ~~764~~1,~~304~~367,500.4684 0.00 ~~210~~209,~~914~~547,~~929~~429.9612 12,~~716~~241,~~861~~590.0131 0.00 A-2 ~~318~~569,~~455~~783.1806 0.00 87,~~879~~310,~~838~~055.5853 ~~719~~937,~~267~~642.4394 0.00 A-3 ~~191~~341,~~071~~867.7030 0.00 52,~~727~~385,~~512~~645.8757 ~~433~~564,~~909~~778.2057 0.00 R 0.00 0.00 0.00 0.00 0.00 M-1 0.00 0.00 7,087,000.00 3331,~~844~~201.3629 0.00 M-2 0.00 0.00 5,907,000.00 2826,~~471~~252.7433 0.00 M-3 0.00 0.00 3,150,000.00 1514,~~743~~524.0047 0.00 M-4 0.00 0.00 2,362,000.00 1211,~~539~~579.6096 0.00 M-5 0.00 0.00 1,575,000.00 87,~~641~~984.5011 0.00 M-6 0.00 0.00 2,166,000.00 1211,~~269~~341.1905 0.00 B-1 0.00 0.00 1,968,000.00 1110,~~147~~304.6333 0.00 B-2 0.00 0.00 1,772,000.00 109,~~037~~278.4009 0.00 B-3 0.00 0.00 1,968,000.00 1110,~~147~~304.6333 0.00 C 0.00 0.00 5,512,470.73 ~~474~~200,~~407~~154.2355 0.00 P 0.00 0.00 0.00 ~~23,784~~0.8600 0.00 Totals 12,~~273~~279,~~831~~151.3420 0.00 ~~384~~382,~~989~~710,~~752~~600.1495 34,~~512~~076,~~071~~936.7833 0.00 As Master Servicer, Wells Fargo Bank, N.A. has independently calculated collateral information based on loan level data received from external parties, which may include the Servicers, Issuer and other parties to the transaction. Wells Fargo Bank, N.A. expressly disclaims any responsibility for the accuracy or completeness of information furnished to it by those third parties. All Record Dates are based upon the governing documents and logic set forth as of closing.

Principal Distribution Statement Class Original Beginning Scheduled UnScheduled Accretion Face Certificate Principal Principal Amount Balance Distribution Distribution A-1 216,169,000.00 ~~211~~210,~~679~~914,~~234~~929.4296 0.00 ~~764~~1,~~304~~367,500.4684 0.00 A-2 90,069,000.00 8887,~~198~~879,~~293~~838.7758 0.00 ~~318~~569,~~455~~783.1806 0.00 A-3 54,041,000.00 52,~~918~~727,~~584~~512.5787 0.00 ~~191~~341,~~071~~867.7030 0.00 R 100.00 0.00 0.00 0.00 0.00 M-1 7,087,000.00 7,087,000.00 0.00 0.00 0.00 M-2 5,907,000.00 5,907,000.00 0.00 0.00 0.00 M-3 3,150,000.00 3,150,000.00 0.00 0.00 0.00 M-4 2,362,000.00 2,362,000.00 0.00 0.00 0.00 M-5 1,575,000.00 1,575,000.00 0.00 0.00 0.00 M-6 2,166,000.00 2,166,000.00 0.00 0.00 0.00 B-1 1,968,000.00 1,968,000.00 0.00 0.00 0.00 B-2 1,772,000.00 1,772,000.00 0.00 0.00 0.00 B-3 1,968,000.00 1,968,000.00 0.00 0.00 0.00 C 5,513,809.16 5,512,470.73 0.00 0.00 0.00 P 0.00 0.00 0.00 0.00 0.00 Totals 393,747,909.16 ~~386~~384,~~263~~989,~~583~~752.4914 0.00 12,~~273~~279,~~831~~151.3420 0.00

Principal Distribution Statement (continued) Class Realized Total Ending Ending Total Loss Principal Certificate Certificate Principal Reduction Balance Percentage Distribution A-1 0.00 ~~764~~1,~~304~~367,500.4684 ~~210~~209,~~914~~547,~~929~~429.9612 0.~~97569462~~96936855 ~~764~~1,~~304~~367,500.4684 A-2 0.00 ~~318~~569,~~455~~783.1806 87,~~879~~310,~~838~~055.5853 0.~~97569462~~96936855 ~~318~~569,~~455~~783.1806 A-3 0.00 ~~191~~341,~~071~~867.7030 52,~~727~~385,~~512~~645.8757 0.~~97569462~~96936855 ~~191~~341,~~071~~867.7030 R 0.00 0.00 0.00 0.00000000 0.00 M-1 0.00 0.00 7,087,000.00 1.00000000 0.00 M-2 0.00 0.00 5,907,000.00 1.00000000 0.00 M-3 0.00 0.00 3,150,000.00 1.00000000 0.00 M-4 0.00 0.00 2,362,000.00 1.00000000 0.00 M-5 0.00 0.00 1,575,000.00 1.00000000 0.00 M-6 0.00 0.00 2,166,000.00 1.00000000 0.00 B-1 0.00 0.00 1,968,000.00 1.00000000 0.00 B-2 0.00 0.00 1,772,000.00 1.00000000 0.00 B-3 0.00 0.00 1,968,000.00 1.00000000 0.00 C 0.00 0.00 5,512,470.73 0.99975726 0.00 P 0.00 0.00 0.00 0.00000000 0.00 Totals 0.00 12,~~273~~279,~~831~~151.3420 ~~384~~382,~~989~~710,~~752~~600.1495 0.~~97775694~~97196859 12,~~273~~279,~~831~~151.3420 NOTE: Accretion amount also includes Net Negative Amortization, if applicable.

Principal Distribution Factors Statement Class Original Beginning Scheduled UnScheduled Accretion Face Certificate Principal Principal Amount Balance Distribution Distribution A-1 216,169,000.00 ~~979~~975.~~23029861~~69461838 0.00000000 36.~~53568023~~32607284 0.00000000 A-2 90,069,000.00 ~~979~~975.~~23029866~~69461835 0.00000000 36.~~53568020~~32607290 0.00000000 A-3 54,041,000.00 ~~979~~975.~~23029866~~69461835 0.00000000 36.~~53568032~~32607280 0.00000000 R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 M-1 7,087,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-2 5,907,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-3 3,150,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-4 2,362,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-5 1,575,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M-6 2,166,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-1 1,968,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-2 1,772,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B-3 1,968,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 C 5,513,809.16 999.75725856 0.00000000 0.00000000 0.00000000 P 0.00 0.00000000 0.00000000 0.00000000 0.00000000

Principal Distribution Factors Statement (continued) Class Realized Total Ending Ending Total Loss Principal Certificate Certificate Principal Reduction Balance Percentage Distribution A-1 0.00000000 36.~~53568023~~32607284 ~~975~~969.~~69461838~~36854554 0.~~97569462~~96936855 36.~~53568023~~32607284 A-2 0.00000000 36.~~53568020~~32607290 ~~975~~969.~~69461835~~36854556 0.~~97569462~~96936855 36.~~53568020~~32607290 A-3 0.00000000 36.~~53568032~~32607280 ~~975~~969.~~69461835~~36854555 0.~~97569462~~96936855 36.~~53568032~~32607280 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-1 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 M-2 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 M-3 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 M-4 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 M-5 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 M-6 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-1 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-2 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 B-3 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000 C 0.00000000 0.00000000 999.75725856 0.99975726 0.00000000 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 NOTE: Accretion amount also includes Net Negative Amortization, if applicable. NOTE: All classes per $1,000 denomination.

Interest Distribution Statement Class Accrual Accrual Current Beginning Current Payment of Dates Days Certificate Certificate/ Accrued Unpaid Interest Rate Notional Interest Shortfall (1) Balance A-1 1011/2526/07 - 1112/25/07 3230 54.~~06250~~97313% ~~211~~210,~~679~~914,~~234~~929.4296 ~~952~~874,~~556~~089.5547 0.00 A-2 1011/2526/07 - 1112/25/07 3230 5.~~11250~~02313% 8887,~~198~~879,~~293~~838.7758 ~~400~~367,~~812~~859.2588 0.00 A-3 1011/2526/07 - 1112/25/07 3230 5.~~16250~~07313% 52,~~918~~727,~~584~~512.5787 ~~242~~222,~~837~~911.5027 0.00 R N/A N/A 54.~~06250~~97313% 0.00 0.00 0.00 M-1 1011/2526/07 - 1112/25/07 3230 5.~~37250~~28313% 7,087,000.00 3331,~~844~~201.3629 0.00 M-2 1011/2526/07 - 1112/25/07 3230 5.~~42250~~33313% 5,907,000.00 2826,~~471~~252.7433 0.00 M-3 1011/2526/07 - 1112/25/07 3230 5.~~62250~~53313% 3,150,000.00 1514,~~743~~524.0047 0.00 M-4 1011/2526/07 - 1112/25/07 3230 5.~~97250~~88313% 2,362,000.00 1211,~~539~~579.6096 0.00 M-5 1011/2526/07 - 1112/25/07 3230 6.~~17250~~08313% 1,575,000.00 87,~~641~~984.5011 0.00 M-6 1011/2526/07 - 1112/25/07 3230 6.~~37250~~28313% 2,166,000.00 1211,~~269~~341.1905 0.00 B-1 1011/2526/07 - 1112/25/07 3230 6.~~37250~~28313% 1,968,000.00 1110,~~147~~304.6333 0.00 B-2 1011/2526/07 - 1112/25/07 3230 6.~~37250~~28313% 1,772,000.00 109,~~037~~278.4009 0.00 B-3 1011/2526/07 - 1112/25/07 3230 6.~~37250~~28313% 1,968,000.00 1110,~~147~~304.6333 0.00 C N/A N/A 0.00000% 5,512,470.73 0.00 0.00 P N/A N/A 0.00000% 0.00 0.00 0.00 Totals 1,~~740~~597,~~048~~630.3558 0.00

Interest Distribution Statement (continued) Class Current Non-Supported Total Remaining Ending Interest Interest Interest Unpaid Interest Certificate/ Shortfall(1) Shortfall Distribution Shortfall(1) Notional Balance A-1 0.00 0.00 ~~952~~874,~~556~~089.5547 0.00 ~~210~~209,~~914~~547,~~929~~429.9612 A-2 0.00 0.00 ~~400~~367,~~812~~859.2588 0.00 87,~~879~~310,~~838~~055.5853 A-3 0.00 0.00 ~~242~~222,~~837~~911.5027 0.00 52,~~727~~385,~~512~~645.8757 R 0.00 0.00 0.00 0.00 0.00 M-1 0.00 0.00 3331,~~844~~201.3629 0.00 7,087,000.00 M-2 0.00 0.00 2826,~~471~~252.7433 0.00 5,907,000.00 M-3 0.00 0.00 1514,~~743~~524.0047 0.00 3,150,000.00 M-4 0.00 0.00 1211,~~539~~579.6096 0.00 2,362,000.00 M-5 0.00 0.00 87,~~641~~984.5011 0.00 1,575,000.00 M-6 0.00 0.00 1211,~~269~~341.1905 0.00 2,166,000.00 B-1 0.00 0.00 1110,~~147~~304.6333 0.00 1,968,000.00 B-2 0.00 0.00 109,~~037~~278.4009 0.00 1,772,000.00 B-3 0.00 0.00 1110,~~147~~304.6333 0.00 1,968,000.00 C 0.00 0.00 ~~474~~200,~~407~~154.2355 0.00 5,512,470.73 P 0.00 0.00 ~~23,784~~0.8600 0.00 0.00 Totals 0.00 0.00 21,~~238~~797,~~240~~785.4413 0.00 (1) Amount also includes Coupon Cap or Basis Risk Shortfalls, if applicable.

Interest Distribution Factors Statement Class Original Current Beginning Current Payment of Face Certificate Certificate/ Accrued Unpaid Interest Amount Rate Notional Interest Shortfall (1) Balance A-1 216,169,000.00 54.~~06250~~97313% ~~979~~975.~~23029861~~69461838 4.~~40653632~~04354681 0.00000000 A-2 90,069,000.00 5.~~11250~~02313% ~~979~~975.~~23029866~~69461835 4.~~45005773~~08420078 0.00000000 A-3 54,041,000.00 5.~~16250~~07313% ~~979~~975.~~23029866~~69461835 4.~~49357895~~12485465 0.00000000 R 100.00 54.~~06250~~97313% 0.00000000 0.00000000 0.00000000 M-1 7,087,000.00 5.~~37250~~28313% 1000.00000000 4.~~77555524~~40260900 0.00000000 M-2 5,907,000.00 5.~~42250~~33313% 1000.00000000 4.~~82000000~~44427459 0.00000000 M-3 3,150,000.00 5.~~62250~~53313% 1000.00000000 4.~~99777778~~61094286 0.00000000 M-4 2,362,000.00 5.~~97250~~88313% 1000.00000000 54.~~30889077~~90260796 0.00000000 M-5 1,575,000.00 6.~~17250~~08313% 1000.00000000 5.~~48666667~~06927619 0.00000000 M-6 2,166,000.00 6.~~37250~~28313% 1000.00000000 5.~~66444598~~23594183 0.00000000 B-1 1,968,000.00 6.~~37250~~28313% 1000.00000000 5.~~66444614~~23594004 0.00000000 B-2 1,772,000.00 6.~~37250~~28313% 1000.00000000 5.~~66444695~~23594244 0.00000000 B-3 1,968,000.00 6.~~37250~~28313% 1000.00000000 5.~~66444614~~23594004 0.00000000 C 5,513,809.16 0.00000% 999.75725856 0.00000000 0.00000000 P 0.00 0.00000% 0.00000000 0.00000000 0.00000000

Interest Distribution Factors Statement (continued) Class Current Non-Supported Total Remaining Unpaid Ending Interest Interest Interest Interest Certificate/ Shortfall(1) Shortfall Distribution Shortfall(1) Notional Balance A-1 0.00000000 0.00000000 4.~~40653632~~04354681 0.00000000 ~~975~~969.~~69461838~~36854554 A-2 0.00000000 0.00000000 4.~~45005773~~08420078 0.00000000 ~~975~~969.~~69461835~~36854556 A-3 0.00000000 0.00000000 4.~~49357895~~12485465 0.00000000 ~~975~~969.~~69461835~~36854555 R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 M-1 0.00000000 0.00000000 4.~~77555524~~40260900 0.00000000 1000.00000000 M-2 0.00000000 0.00000000 4.~~82000000~~44427459 0.00000000 1000.00000000 M-3 0.00000000 0.00000000 4.~~99777778~~61094286 0.00000000 1000.00000000 M-4 0.00000000 0.00000000 54.~~30889077~~90260796 0.00000000 1000.00000000 M-5 0.00000000 0.00000000 5.~~48666667~~06927619 0.00000000 1000.00000000 M-6 0.00000000 0.00000000 5.~~66444598~~23594183 0.00000000 1000.00000000 B-1 0.00000000 0.00000000 5.~~66444614~~23594004 0.00000000 1000.00000000 B-2 0.00000000 0.00000000 5.~~66444695~~23594244 0.00000000 1000.00000000 B-3 0.00000000 0.00000000 5.~~66444614~~23594004 0.00000000 1000.00000000 C 0.00000000 0.00000000 8636.~~03983494~~30059442 0.00000000 999.75725856 P 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (1) Amount also includes Coupon Cap or Basis Risk Shortfalls, if applicable. NOTE: All classes per $1,000 denomination.

Certificateholder Account Statement CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 34,~~615~~604,~~974~~086.5948 Reserve Funds and Credit Enhancements 0.00 Proceeds from Repurchased Loans 0.00 Servicer Advances 8292,~~549~~938.5575 Gains & Subsequent Recoveries (Realized Losses) 0(409,689.0067) Prepayment Penalties ~~23,784~~0.8600 Swap/Cap Payments 0.00 Total Deposits 34,~~722~~287,~~309~~335.0056 Withdrawals Swap Payments 0.00 Reserve Funds and Credit Enhancements 0.00 Reimbursement for Servicer Advances 8182,~~992~~549.9355 Total Administration Fees ~~128~~127,~~244~~849.2968 Payment of Interest and Principal 34,~~512~~076,~~071~~936.7833 Total Withdrawals (Pool Distribution Amount) 34,~~722~~287,~~309~~335.0056 Ending Balance 0.00 Servicer Advances are calculated as delinquent scheduled principal and interest.

ADMINISTRATION FEES Gross Servicing Fee* ~~128~~127,~~244~~849.2968 Supported Prepayment/Curtailment Interest Shortfall 0.00 Total Administration Fees ~~128~~127,~~244~~849.2968 *Servicer Payees include: GMAC MORTGAGE, LLC; RESIDENTIAL FUNDING CORPORATION, LLC

Collateral Statement Total Collateral Description Mixed ARM Weighted Average Coupon Rate 7.~~278035~~279127 Weighted Average Net Rate 6.~~879620~~880624 Weighted Average Pass-Through Rate 6.~~879620~~880624 Weighted Average Remaining Term ~~363~~362 Principal And Interest Constant 1,~~354~~347,~~996~~780.8079 Beginning Loan Count 1,~~131~~124 Loans Paid in Full 79 Ending Loan Count 1,~~124~~115 Beginning Scheduled Balance ~~386~~384,~~263~~989,~~583~~752.4814 Ending Scheduled Balance ~~384~~382,~~989~~710,~~752~~600.1494 Actual Ending Collateral Balance ~~384~~381,~~100~~773,~~412~~447.05 Scheduled Principal ~~212~~206.4440 Unscheduled Principal 23,~~261~~266,~~534~~694.3889 Negative Amortized Principal (987,~~915~~750.4809) Scheduled Interest 2,~~342~~335,~~699~~324.8448 Servicing Fees ~~128~~127,~~244~~849.2968 Master Servicing Fees 0.00 Trustee Fee 0.00 FRY Amount 0.00 Special Hazard Fee 0.00 Other Fee 0.00 Pool Insurance Fee 0.00 Spread 1 0.00 Spread 2 0.00 Spread 3 0.00 Net Interest 2,~~214~~207,~~455~~474.5580 Realized Loss Amount 0409,689.0067 Cumulative Realized Loss 0409,689.0067 Percentage of Cumulative Losses 0.~~0000~~1040 Prepayment Penalty Waived Amount 0.00 Prepayment Penalty Waived Count 0 Prepayment Penalty Paid Amount ~~23,784~~0.8600 Prepayment Penalty Paid Count 20 Special Servicing Fee 0.00

Additional Reporting - Deal Level Informational Reporting LIBOR 4.~~872500~~783130% Swap LIBOR 4.~~872500~~788750% Significance Percentage 0.000000% Civil Relief Act Loans 0 Civil Relief Act Shortfall Amount 0.000 Number of Rate Reductions 01 Structural Reporting Excess Interest Amount ~~474~~200,~~407~~154.2355 Extra Principal Distribution Amount 0.00 Overcollateralization Amount 5,512,470.73 Overcollateralization Deficiency Amount 0.00 Overcollateralization Reduction Amount 0.00 Specified Overcollateralization Amount 5,512,470.73 Trigger Event Reporting Stepdown Trigger Event Trigger Result Pass Delinquency Trigger Trigger Result Pass Threshold Value 2.~~850592~~860024% Calculated Value 2.~~049435~~534827% Cumulative Loss Trigger Trigger Result Pass Threshold Value 0.150000% Calculated Value 0.~~000000~~104049%

Delinquency Status - MBA Delinquency Calculation Method DELINQUENT BANKRUPTCY FORECLOSURE REO Total No. of Loans No. of Loans No. of Loans No. of Loans No. of Loans Scheduled Balance Scheduled Balance Scheduled Balance Scheduled Balance Scheduled Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 3944 0 0 0 3944 1415,~~833~~209,~~757~~211.3942 0.00 0.00 0.00 1415,~~833~~209,~~757~~211.3942 60 Days 108 0 0 0 108 3,~~793~~012,~~836~~633.6936 0.00 0.00 0.00 3,~~793~~012,~~836~~633.6936 90 Days 7 0 0 0 7 2,~~214~~803,~~579~~597.0774 0.00 0.00 0.00 2,~~214~~803,~~579~~597.0774 120 Days 5 0 03 0 58 21,~~165~~829,~~825~~996.6047 0.00 0739,607.0012 0.00 2,~~165~~569,~~825~~603.6059 150 Days 24 0 20 0 4 ~~798~~1,~~111~~748,753.5798 0.00 ~~586,903~~0.9700 0.00 1,~~385~~748,~~015~~753.5498 180+ Days 01 01 02 0 04 0360,110.0040 0440,080.0007 0588,679.0095 0.00 01,388,870.0042 Totals 6369 01 25 0 6575 2324,~~806~~964,~~110~~303.3237 0440,080.0007 ~~586~~1,~~903~~328,287.9707 0.00 2426,~~393~~732,~~014~~670.2951 No. of Loans No. of Loans No. of Loans No. of Loans No. of Loans Scheduled Balance Scheduled Balance Scheduled Balance Scheduled Balance Scheduled Balance 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 3.~~469751~~946188% 0.000000% 0.000000% 0.000000% 3.~~469751~~946188% 3.~~853027~~974076% 0.000000% 0.000000% 0.000000% 3.~~853027~~974076% 60 Days 0.~~889680~~717489% 0.000000% 0.000000% 0.000000% 0.~~889680~~717489% 0.~~985438~~787183% 0.000000% 0.000000% 0.000000% 0.~~985438~~787183% 90 Days 0.~~622776~~627803% 0.000000% 0.000000% 0.000000% 0.~~622776~~627803% 0.~~575231~~732563% 0.000000% 0.000000% 0.000000% 0.~~575231~~732563% 120 Days 0.~~444840~~448430% 0.000000% 0.~~000000~~269058% 0.000000% 0.~~444840~~717489% 0.~~562567~~478167% 0.000000% 0.~~000000~~193255% 0.000000% 0.~~562567~~671422% 150 Days 0.~~177936~~358744% 0.000000% 0.~~177936~~000000% 0.000000% 0.~~355872~~358744% 0.~~207307~~456939% 0.000000% 0.~~152447~~000000% 0.000000% 0.~~359754~~456939% 180+ Days 0.~~000000~~089686% 0.~~000000~~089686% 0.~~000000~~179372% 0.000000% 0.~~000000~~358744% 0.~~000000~~094095% 0.~~000000~~114990% 0.~~000000~~153819% 0.000000% 0.~~000000~~362904% Totals 56.~~604982~~188341% 0.~~000000~~089686% 0.~~177936~~448430% 0.000000% 56.~~782918~~726457% 6.~~183570~~523024% 0.~~000000~~114990% 0.~~152447~~347073% 0.000000% 6.~~336017~~985088% Please refer to CTSLink.com for a list of delinquency code descriptions.

Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 8292,~~549~~938.5575

Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period

Summary 12 Month Foreclosure History* New Foreclosure Loans Month Foreclosure Percentage Loans in Foreclosure 23 ~~Dec~~Jan-0607 0.000% Original Principal Balance ~~576~~729,~~500~~000.00 ~~Jan~~Feb-07 0.000% Current Scheduled Balance ~~586~~739,~~903~~607.9712 ~~Feb~~Mar-07 0.000% ~~Mar~~Apr-07 0.000% Current Foreclosure Total ~~Apr~~May-07 0.000% Loans in Foreclosure 25 ~~May~~Jun-07 0.000% Original Principal Balance ~~576~~1,305,500.00 ~~Jun~~Jul-07 0.000% Current Scheduled Balance ~~586~~1,~~903~~328,287.9707 ~~Jul~~Aug-07 0.000% ~~Aug~~Sep-07 0.000% ~~Sep~~Oct-07 0.000% ~~Oct~~Nov-07 0.~~000~~152% ~~Nov~~Dec-07 0.~~152~~347% *The text reported in the above table is presented graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at www.ctslink.com.

Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period Month Loan First Original Loan Entered Payment LTV at Principal Group Number FC Date State Origination Balance Summary 0011389209 Dec-2007 01-Apr-2007 MI 80.00 80,000.00 Summary 0011431961 Dec-2007 01-May-2007 CA 80.00 440,000.00 Summary 0019080629 Dec-2007 01-Jun-2007 MI 95.00 209,000.00 Summary 0019101421 Nov-2007 01-Jun-2007 CA 90.00 256,500.00 Summary 0019147613 Nov-2007 01-Jun-2007 CA 80.00 320,000.00

Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period (continued) Current Paid Current Approximate Loan Scheduled To Months Loan Delinquent Group Number Balance Date Delinquent Rate Interest Summary 0011389209 81,656.83 01-Jul-2007 4 7.750% 2,966.72 Summary 0011431961 445,449.08 01-Jul-2007 4 7.250% 15,117.85 Summary 0019080629 212,501.21 01-Jul-2007 4 7.875% 7,849.89 Summary 0019101421 ~~261~~262,~~494~~347.8213 01-May-2007 56 8.125% 89,~~308~~986.8780 Summary 0019147613 ~~325~~326,~~409~~332.1582 01-May-2007 56 8.375% 1012,~~688~~844.8770

Bankruptcy Detail - All Mortgage Loans in Bankruptcy during Current Period

Summary 12 Month Bankruptcy ~~Detail~~History* -New ~~All~~Bankruptcy ~~Mortgage~~Loans Month Bankruptcy Percentage Loans in Bankruptcy ~~during~~1 Jan-07 0.000% Original Principal Balance 428,000.00 Feb-07 0.000% Current ~~Period~~Scheduled ~~Summary~~Balance 440,080.07 Mar-07 No0.000% Apr-07 0.000% Current Bankruptcy ~~Information~~Total toMay-07 0.000% Loans in Bankruptcy 1 Jun-07 0.000% Original Principal Balance 428,000.00 Jul-07 0.000% Current Scheduled Balance 440,080.07 Aug-07 0.000% Sep-07 0.000% Oct-07 0.000% Nov-07 0.000% Dec-07 0.115% *The text reported in the above table is presented graphically on the monthly bond remittance report. ~~this~~The ~~period~~monthly bond remittance report can be viewed online at www.ctslink.com.

Bankruptcy Detail - All Mortgage Loans in Bankruptcy during Current Period Group Loan Month Loan First State LTV at Original Number Entered Payment Origination Principal Bankruptcy Date Balance NoSummary ~~Bankruptcy~~0380052211 ~~Loans~~Dec-2007 ~~this~~01-Jan-2007 ~~Period~~CA 80.00 428,000.00

Bankruptcy Detail - All Mortgage Loans in Bankruptcy during Current Period (continued) Group Loan Current Paid To Months Current Approximate Number Scheduled Date Delinquent Loan Rate Delinquent Balance Interest NoSummary ~~Bankruptcy~~0380052211 ~~Loans~~440,080.07 ~~this~~01-May-2007 ~~Period~~6 7.625% 15,822.04

Realized Loss Detail Report - Loans with Losses during Current Period Summary # Loans Prior Realized Current with Actual Loss/(Gain) Loss Group Losses Balance Amount Percentage Total 02 0606,364.0030 0409,689.0067 0.~~000~~107%

Realized Loss Loan Detail Report - Loans With Losses during Current Period Original Current Loan Principal Note LTV at Original Group Number Balance Rate State Origination Term NoSummary ~~Losses~~0011402043 ~~this~~187,500.00 ~~Period~~7.750% CT 75.00 360 Summary 0019025581 416,000.00 7.750% CA 80.00 360

Realized Loss Loan Detail Report - Loans With Losses during Current Period (continued) Prior Cumulative Loan Actual Realized Realized Group Number Balance Loss/(Gain) Loss/(Gain) NoSummary ~~Losses~~0011402043 ~~this~~189,321.33 ~~Period~~40,318.63 40,318.63 Summary 0019025581 417,042.97 369,371.04 369,371.04

Realized Loss Report - Collateral Summary MDR SDA Current Month 0.159% Current Month 13.463% 3 Month Average 0.053% 3 Month Average 4.488% 12 Month Average 0.000% 12 Month Average 0.000% MDR: Current vs. 12mo Average* SDA: Current vs. 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. Jan-2007 NoN/A ~~Realized~~N/A Jan-2007 N/A N/A Feb-2007 N/A N/A Feb-2007 N/A N/A Mar-2007 N/A N/A Mar-2007 N/A N/A Apr-2007 N/A N/A Apr-2007 N/A N/A May-2007 N/A N/A May-2007 N/A N/A Jun-2007 N/A N/A Jun-2007 N/A N/A Jul-2007 0.000% N/A Jul-2007 0.000% N/A Aug-2007 0.000% N/A Aug-2007 0.000% N/A Sep-2007 0.000% N/A Sep-2007 0.000% N/A Oct-2007 0.000% N/A Oct-2007 0.000% N/A Nov-2007 0.000% N/A Nov-2007 0.000% N/A Dec-2007 0.159% N/A Dec-2007 13.463% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. CDR Loss ~~Information~~Severity toCurrent Month 1.891% Current Month (Cumulative) 67.565% 3 Month Average 0.630% 3 Month Average (Cumulative) 22.522% 12 Month Average 0.000% 12 Month Average (Cumulative) N/A CDR: Current vs. 12mo Average* Loss Severity: Curr Month(Cum) vs. 12mo Avg.(Cum) Severity* Month Current 12mo Avg. Month Current 12mo Avg. Jan-2007 N/A N/A Jan-2007 N/A N/A Feb-2007 N/A N/A Feb-2007 N/A N/A Mar-2007 N/A N/A Mar-2007 N/A N/A Apr-2007 N/A N/A Apr-2007 N/A N/A May-2007 N/A N/A May-2007 N/A N/A Jun-2007 N/A N/A Jun-2007 N/A N/A Jul-2007 0.000% N/A Jul-2007 0.000% N/A Aug-2007 0.000% N/A Aug-2007 0.000% N/A Sep-2007 0.000% N/A Sep-2007 0.000% N/A Oct-2007 0.000% N/A Oct-2007 0.000% N/A Nov-2007 0.000% N/A Nov-2007 0.000% N/A Dec-2007 1.891% N/A Dec-2007 67.565% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. ~~this~~The ~~period~~graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. Calculation Methodology: Monthly Default Rate (MDR): ~~sum~~Sum(Beg Scheduled Balance of Liquidated Loans) / ~~sum~~Sum(Beg Scheduled Balance). Conditional Default Rate (CDR): 1-((1-MDR)^12) SDA Standard Default Assumption: If WAS is less than or equal to 30 then CDR / (WAS * 0.02) else if WAS is greater than 30 and less than or equal to 60 then CDR / 0.6 else if WAS is greater than 60 and less than or equal to 120 then CDR / (0.6 - ((WAS - 60) * 0.0095)) else if WAS is greater than 120 then CDR / 0.03 Cumulative Loss Severity: Sum (All Realized Losses) / Sum (~~Ending~~ Actual Liquidated Balance for loans that have experienced a loss). 3 Month Average and 12 Month Average will not have values until the 3rd and 12th month respectively.

Prepayment Detail - Prepayments during Current Period Summary Loans Paid In Full Repurchased Loans Original Current Original Current Principal Scheduled Principal Scheduled Group Count Balance Balance Count Balance Balance Total 7 2,~~079~~429,~~450~~000.00 2,~~092~~465,~~593~~812.4671 0 0.00 0.00

Prepayment Detail - Prepayments during Current Period (continued) Summary Substitution Loans Liquidated Loans Curtailments Original Current Original Current Principal Scheduled Principal Scheduled Curtailment Group Count Balance Balance Count Balance Balance Amount Total 0 0.00 0.00 02 0603,500.00 0612,113.0022 ~~163~~181,~~781~~022.2635

Prepayment Loan Detail - Prepayments during Current Period First Original Loan LTV at Payment Principal Prepayment Group Number State Origination Date Balance Amount Summary ~~0000648774~~0000646547 CA 7580.00 01-May-2007 ~~513~~240,~~750~~000.00 ~~520~~245,~~765~~048.4348 Summary ~~0000657296~~0011402043 CACT 75.00 01-Apr-2007 187,500.00 190,188.50 Summary 0011420197 RI 78.77 01-May-2007 ~~497~~256,~~250~~000.00 ~~501~~260,~~078~~500.1980 Summary ~~0017471061~~0011436765 AZNJ 7279.3274 01-~~Jun~~May-2007 303,~~750~~000.00 ~~307~~309,~~588~~998.8392 Summary ~~0410068081~~0015464945 GANC 7772.7566 01-~~Jan~~Jun-2007 ~~155~~946,~~500~~000.00 ~~156~~961,~~942~~816.8209 Summary ~~3210746287~~0019025581 OHCA 7680.7700 01-~~May~~Jun-2007 ~~119~~416,000.00 ~~119~~423,~~835~~443.2174 Summary ~~3211202226~~3210819128 VATN 7778.2557 01-Jun-2007 ~~247~~126,~~200~~500.00 ~~248~~128,~~199~~309.4677 Summary ~~4879288208~~3211224943 MTCO 9085.00 01-~~Jan~~Jun-2007 ~~243~~382,500.00 389,314.19 Summary 3211406249 PA 62.50 01-Jun-2007 175,000.00 ~~243~~177,~~343~~052.1805

Prepayment Loan Detail - Prepayments during Current Period (continued) Current Loan PIF Months Loan Original Group Number Type Delinquent Rate Term Seasoning Summary ~~0000648774~~0000646547 Loan Paid in Full (1) 7.375% 360 7 Summary 0011402043 Liquidation 0 7.~~125~~750% 360 68 Summary ~~0000657296~~0011420197 Loan Paid in Full 0 7.~~125~~250% 360 67 Summary ~~0017471061~~0011436765 Loan Paid in Full ~~(1)~~0 78.~~875~~125% 360 57 Summary ~~0410068081~~0015464945 Loan Paid in Full 0 7.~~625~~250% 360 106 Summary ~~3210746287~~0019025581 Liquidation 4 7.750% 360 6 Summary 3210819128 Loan Paid in Full 0(1) 6.625% 360 6 Summary ~~3211202226~~3211224943 Loan Paid in Full 0(1) 67.~~250~~125% 360 56 Summary ~~4879288208~~3211406249 Loan Paid in Full 0 6.~~750~~625% 360 106

Prepayment Penalty Detail - Prepayment Penalty Paid during Current Period Prepayment Prepayment Summary Loan Prior Penalty Penalty Count Balance Amount Waived Total 20 ~~806,735~~0.6100 ~~23,784~~0.8600 0.00

Prepayment Penalty Loan Detail - Prepayment Penalty Paid during Current Period Paid In Prepayment Prepayment Loan Full Prior Penalty Penalty Group Number Date Balance Amount Waived ~~Summary~~No ~~0000657296~~Prepayment ~~10/11/2007~~Penalties ~~499,797.09~~this ~~14,216.73 0.00 Summary 0017471061 10/10/2007 306,938.52 9,568.13 0.00~~Period

Prepayment Rates

Summary SMM CPR PSA Current Month 0.~~584~~846% Current Month 69.~~787~~696% Current Month ~~563~~690.~~810~~217% 3 Month Average 0.~~794~~930% 3 Month Average 910.~~022~~539% 3 Month Average ~~903~~920.~~094~~319% 12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000% CPR: Current vs. 12mo Average* PSA: Current vs. 12mo Average* Month Current 12mo Avg. Month Current 12mo Avg. ~~Dec-2006 N/A N/A Dec-2006 N/A N/A~~ Jan-2007 N/A N/A Jan-2007 N/A N/A Feb-2007 N/A N/A Feb-2007 N/A N/A Mar-2007 N/A N/A Mar-2007 N/A N/A Apr-2007 N/A N/A Apr-2007 N/A N/A May-2007 N/A N/A May-2007 N/A N/A Jun-2007 N/A N/A Jun-2007 N/A N/A Jul-2007 6.071% N/A Jul-2007 1,502.311% N/A Aug-2007 6.993% N/A Aug-2007 1,156.771% N/A Sep-2007 5.144% N/A Sep-2007 638.544% N/A Oct-2007 15.134% N/A Oct-2007 1,506.929% N/A Nov-2007 6.787% N/A Nov-2007 563.810% N/A Dec-2007 9.696% N/A Dec-2007 690.217% N/A *The text reported in the above table is presented *The text reported in the above table is presented graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at www.ctslink.com. www.ctslink.com. Calculation Methodology: Single Month Mortality (SMM): (Partial and full prepayments + Repurchases) / (Beginning Scheduled Balance - Scheduled Principal) Conditional PrePayment Rate (CPR): 1 - ((1 - SMM)^12) PSA Standard Prepayment Model: 100 * CPR / (0.2 * MIN(30,WAS)) Weighted Average Seasoning (WAS): sum((Original Term - Remaining Term)*(Current Scheduled Balance/Deal Scheduled Principal Balance))

Interest Rate Stratification Summary Current Number of Outstanding Percentage of Interest Rate Loans Scheduled Balance(%) Range(%) Balance($) < 5.500 0 0.00 0.000 5.500 5.749 17 6,~~041~~053,~~860~~938.6984 1.~~569~~582 5.750 5.999 14 3,~~782~~790,~~884~~701.6141 0.~~983~~990 6.000 6.249 24 7,~~227~~237,~~466~~887.9436 1.~~877~~891 6.250 6.499 48 17,~~712~~743,~~623~~973.9237 4.~~601~~636 6.500 6.749 ~~101~~99 3433,~~173~~927,~~978~~597.4934 8.~~877~~865 6.750 6.999 178 62,~~051~~172,~~694~~075.1667 16.~~118~~245 7.000 7.249 ~~108~~107 3736,~~106~~792,~~153~~742.8680 9.~~638~~614 7.250 7.499 ~~100~~97 4139,~~355~~970,~~650~~699.5503 10.~~742~~444 7.500 7.749 161 58,~~457~~581,~~494~~297.3915 15.~~184~~307 7.750 7.999 ~~163~~161 5453,~~364~~879,~~294~~228.5725 14.~~121~~078 8.000 8.249 156 45,~~502~~483,~~166~~900.7892 11.~~819~~885 8.250 8.499 4948 15,~~304~~160,~~151~~868.9101 3.~~975~~961 8.500 8.749 5 1,~~909~~915,~~331~~690.2779 0.~~496~~501 >= 8.750 0 0.00 0.000 Total 1,~~124~~115 ~~384~~382,~~989~~710,~~752~~600.1494 100.000

Filing Compare · Merrill Lynch Alternative Note Asset Trust, Series 2007-OAR3