Deloitte
              & Touche LLP1700
              Market StreetPhiladelphia,
              PA 19103-3984USATel:
              +1 215 246 2300Fax:
              +1 215 569 2441www.deloitte.com




REPORT
        OF
        INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
  To
        PHH
        Mortgage Corporation:
  We
        have
        examined PHH Mortgage Corporation’s (the “Company’s”) compliance with the
        servicing criteria set forth in Item 1122 (d) of the Securities and Exchange
        Commission’s Regulation AB for PHH Mortgage Corporation’s Regulation AB Platform
        (the “Platform") described in the accompanying Management’s Report on Assessment
        of Compliance with Regulation AB Servicing Criteria as of and for the year
        ended
        December 31, 2006, excluding criteria 1122 (d)(1)(iii), (d)(3)(i)(C),
        (d)(4)(ii), and (d)(4)(xv), which management has determined are not applicable
        to the activities performed by the Company with respect to the Platform.
        Management is responsible for the Company’s compliance with the servicing
        criteria. Our responsibility is to express an opinion on the Company’s
        compliance with the servicing criteria based on our examination.
  Our
        examination was conducted in accordance with attestation standards established
        by the American Institute of Certified Public Accountants, as adopted by
        the
        Public Company Accounting Oversight Board (United States) and, accordingly,
        included examining, on a test basis, evidence about the Company’s compliance
        with the applicable servicing criteria, including tests on a sample basis
        of the
        servicing activities related to the Platform, determining whether the Company
        performed those selected activities in compliance with the servicing criteria
        during the specified period and performing such other procedures as we
        considered necessary in the circumstances. Our procedures were limited to
        selected servicing activities performed by the Company during the period
        covered
        by this report and, accordingly, such samples may not have included servicing
        activities related to each asset-backed transaction included in the Platform.
        Further, an examination is not designed to detect noncompliance arising from
        errors that may have occurred prior to the period specified above that may
        have
        affected the balances or amounts calculated or reported by the Company during
        the period covered by this report. We believe that our examination provides
        a
        reasonable basis for our opinion. Our examination does not provide a legal
        determination on the Company’s compliance with the servicing
        criteria.
  As
        described in management’s assertion, for servicing criteria 1122 (d)(4)(vii) and
        (d)(4)(xi), the Company has engaged a vendor to perform certain activities
        required by this servicing criteria. The Company has determined that this
        vendor
        is not considered a “servicer” as defined in Item 1101(j) of Regulation AB,
        and the Company has elected to take responsibility for assessing compliance
        with
        the servicing criteria applicable to this vendor as permitted by Interpretation
        17.06 of the SEC Division of Corporation Finance Manual of Publicly Available
        Telephone Interpretations ("Interpretation 17.06"). As permitted by
        Interpretation 17.06, the Company has asserted that it has policies and
        procedures in place designed to provide reasonable assurance that the vendor’s
        activities comply in all material respects with the servicing criteria
        applicable to this vendor. The Company is solely responsible for determining
        that it meets the SEC requirements to apply Interpretation 17.06 for the
        vendor
        and related criteria as described in its assertion, and we performed no
        procedures with respect to the Company’s determination of its eligibility to use
        Interpretation 17.06.
  Member
                  ofDeloitte
                  Touche Tohmatsu




Our
        examination disclosed the following material noncompliance with criteria
        applicable to the Company during the year ended December 31, 2006:
  **Standard**
                **Description**1122(d)(1)(i)
                The
                    Company has not instituted policies and procedures to specifically
                    monitor
                    performance or other triggers or events of default stated in
                    the
                    transaction agreements1l22(d)(1)(iv)
                During
                    the months of July, August. and September, the Company’s minimum coverage
                    requirement exceeded its $160 million fidelity bond by amounts
                    ranging up
                    to approximately $1.3 million. Effective September 27, 2006,
                    the Company’s
                    fidelity bond was increased to $170 million.1122(d)(3)(i)(A)
                The
                    Company did not maintain or provide one of the required monthly
                    reports
                    stated in the transaction agreements during the year1122(d)(3)(i)(D)
                The
                    Company did not perform procedures to agree the unpaid principal
                    balance
                    and number of loans serviced by the Company with that of the
                    investors or
                    trustees






In
        our
        opinion, except for the material noncompliance described in the preceding
        paragraph, the Company complied, in all material respects, with the
        aforementioned applicable servicing criteria for the PHH Mortgage Corporation’s
        Regulation AB Platform as of and for the year ended December 31,
        2006.
 
 /s/
        Deloitte & Touche LLP
 
 February
        28, 2007