CHASE MORTGAGE FINANCE CORPORATION



                                    PURCHASER



                             CHASE HOME FINANCE LLC



                              MORTGAGE LOAN SELLER



                          MORTGAGE LOAN SALE AGREEMENT

                            Dated as of April 1, 2007



                          $1,075,181,901 (APPROXIMATE)



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     Mortgage Loan Sale Agreement (the "Agreement"), dated as of April 1, 2007

between Chase Mortgage Finance Corporation, as purchaser (the "Purchaser"), and

Chase Home Finance LLC, as seller (the "Mortgage Loan Seller").



     The Mortgage Loan Seller agrees to sell, and the Purchaser agrees to

purchase, certain mortgage loans listed in Exhibit A hereto (the "Mortgage

Loans") as described herein. The Purchaser, a Delaware corporation with its

principal place of business in Iselin, New Jersey, is a wholly-owned

limited-purpose finance subsidiary of JPMorgan Chase & Co. The Purchaser intends

to deposit the Mortgage Loans into a trust and sell a series of Mortgage

Pass-Through Certificates, Series 2007-S3 (the "Certificates"), evidencing

interests in the Mortgage Loans under a Pooling and Servicing Agreement to be

dated as of April 1, 2007 among the Purchaser, JPMorgan Chase Bank, N.A., as

servicer, JPMorgan Chase Bank, N.A., as custodian and The Bank of New York Trust

Company, N.A., as trustee (the "Trustee") and paying agent (the "Paying Agent"),

substantially in the form previously delivered by the Purchaser to the Mortgage

Loan Seller (the "Pooling and Servicing Agreement") and a Trust Agreement, dated

as of April 1, 2007 among the Depositor, the Trustee and the Paying Agent (the

"Trust Agreement").



     Pursuant to the Pooling and Servicing Agreement, the Purchaser will assign

all of its right, title and interest in and to the Mortgage Loans to the Trustee

for the benefit of the Certificateholders. The Certificates will consist of

Class A Certificates (the "Class A Certificates"), Class M Certificates (the

"Class M Certificates," and together with the Class A Certificates, the Class

B-1 Certificates, the Class B-2 Certificates and the Class B-3 Certificates, the

"Offered Certificates"), and the Class B-1, Class B-2, Class B-3, Class B-4,

Class B-5 and Class B-6 Certificates (collectively, the "Class B Certificates")

and will evidence specified interests in a pool of Mortgage Loans and certain

other property held in trust under the Pooling and Servicing Agreement and the

Trust Agreement. The Class M Certificates and the Class B Certificates, the

aggregate original principal amount of which will initially equal approximately

1.70% and 2.80%, respectively, of the outstanding principal balance of the

Mortgage Loans, will be subordinate to the Class A Certificates, the aggregate

original principal amount of which will initially equal approximately 95.50% of

the outstanding principal balance of the Mortgage Loans (such percentage

referred to herein as the "Senior Percentage").



     The Purchaser has filed with the Securities and Exchange Commission (the

"Commission") registration statements on Form S-3 relating to the Offered

Certificates, and the offering thereof from time to time in accordance with Rule

415 under the Securities Act of 1933 and the rules of the Commission thereunder.

The Purchaser has caused a prospectus dated April 17, 2007 as supplemented by a

prospectus supplement, dated April 24, 2007 (as supplemented, the "Prospectus")

to be prepared with respect to the sale of the Offered Certificates, copies of

which have been delivered to the Mortgage Loan Seller.



     All capitalized terms not otherwise defined herein have the meanings set

forth in the Pooling and Servicing Agreement. The following terms are defined as

follows:



     Cut-off Date:              April 1, 2007



     First Distribution Date:   May 25, 2007



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     Closing Date:              April 25, 2007



     Now, therefore, in consideration of the premises and the mutual agreements

set forth herein, the parties agree as follows:



                                    ARTICLE 1

                      SALE AND CONVEYANCE OF MORTGAGE LOANS



     SECTION 1.01 Sale and Conveyance of Mortgage; Possession of Mortgage File.

The Mortgage Loan Seller does hereby sell, transfer, assign, set over and convey

to the Purchaser, without recourse, all right, title, and interest of the

Mortgage Loan Seller in and to the Mortgage Loans and each of the documents and

records maintained by the Mortgage Loan Seller with respect to the origination

or servicing of a particular Mortgage Loan (each, a "Mortgage File") including

all principal and interest due on or with respect to the Mortgage Loans after

the Cut-off Date. All documents relating to the Mortgage Loans not delivered to

the Purchaser are and shall be held in trust by the Mortgage Loan Seller for the

benefit of the Purchaser as the owner thereof or the Purchaser's assignee or

designee and the Mortgage Loan Seller's possession of the contents of each such

document so retained is at the will of the Purchaser or the Purchaser's assignee

or designee and such retention and possession by the Mortgage Loan Seller is in

a custodial capacity only. Upon the sale of the Mortgage Loans, the ownership of

each related Mortgage Note, the Mortgage and the contents of the related

Mortgage File will be vested in the Purchaser and the ownership of all records

and documents with respect to the related Mortgage Loan prepared by or which

come into the possession of the Mortgage Loan Seller shall immediately vest in

the Purchaser and shall be retained and maintained, in trust, by the Mortgage

Loan Seller at the will of the Purchaser in such custodial capacity only. The

Mortgage Loan Seller's records will accurately reflect the sale of each Mortgage

Loan to the Purchaser. The Mortgage Loan Seller shall release its custody of the

contents of any Mortgage File only in accordance with written instructions from

the Purchaser or the Purchaser's assignee or designee, except that where such

release is required as incidental to a repurchase of any such Mortgage Loan

pursuant to Section 1.04 or 2.02 hereof, such written instructions shall not be

required. The ownership of each Mortgage Note, the Mortgage and the contents of

the related Mortgage File will be vested in the Trustee, as assignee of the

Purchaser. The Mortgage Loan Seller shall not take any action inconsistent with

such ownership and shall not claim any ownership interest therein. The Mortgage

Loan Seller shall respond to any third party inquiries with respect to ownership

of the Mortgage Loans by stating that such ownership is held by the Trustee and

the Certificateholders.



     SECTION 1.02 Books and Records. From and after the sale of the Mortgage

Loans to the Purchaser, record title to each Mortgage and the related Mortgage

Note shall be transferred to the Purchaser or its assignee in accordance with

this Agreement. All rights arising out of the Mortgage Loans, including, but not

limited to, all funds received on or in connection with a Mortgage Loan, shall

be received and held by the Mortgage Loan Seller in trust for the benefit of the

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