3000
      Leadenhall Road


Mt.
      Laurel, NJ 08054




**REPORT
        ON ASSESSMENT OF COMPLIANCE WITH REGULATION AB**
 **SERVICING
        CRITERIA**
 
 PHH
        Mortgage Corporation (the “Asserting Party”) is responsible for assessing
        compliance as of December 31, 2006 and for the period from January 1, 2006
        through December 31, 2006 (the “Reporting Period") with the servicing criteria
        set forth in Section 229.1122(d) of the Code of Federal Regulations (the
“CFR"),
        except for criteria set forth in Section 229.1122(d)(3)(i)(c), (d)(4)(ii),
        (d)(4)(xv) and (d)(l)(iii) of the CFR, which the Asserting Party has concluded
        are not applicable to the servicing activities it performs with respect to
        the
        transactions covered by this report (the “Applicable Servicing Criteria”). The
        criteria set forth in Section 229.1122 (d)(4)(vii) and (d)(4)(xi) of the
        CFR are
        performed by outsource providers on behalf of the Asserting Party; however,
        the
        Asserting Party has monitored the outsourcing of these criteria and assumes
        responsibility for compliance. The transactions covered by this report include
        all non-agency loan sale agreements executed after January 1, 2006 as well
        as
        all re-securitization transactions after January 1, 2006 for which the Asserting
        Party served as servicer (the “Platform”).
 
 The
        Asserting Party has assessed its compliance with the Servicing Criteria as
        of
        December 31, 2006 and for the Reporting Period and has concluded that the
        Asserting Party has complied, in all material respects, with the Servicing
        Criteria with respect to the Platform taken as a whole except for as discussed
        below:
 
 **Standard**
              
              **Description**1122(d)(1)(i)
              
              The
                  Asserting Party has not instituted policies and procedures to specifically
                  monitor performance or other triggers or events of default stated
                  in the
                  transaction agreements1122(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
                  Asserting Party did not maintain or provide one of the required
                  monthly
                  reports stated in the transaction agreements during the
                  year1122(d)(3)(i)(D)
              
              The
                  Asserting Party did not perform procedures to agree the unpaid
                  principal
                  balance and number of loans serviced by the Asserting Party with
                  that of
                  the investors or trustees
 
 
 Deloitte
        & Touche, an independent registered public accounting firm, has issued an
        attestation report on the assessment of compliance with the Servicing Criteria
        for the Reporting Period as set forth in this assertion.
  PHH
        Mortgage Corporation
 
 Date:
        February 28, 2007
 
 /s/
        Terence W. Edwards
 Terence
        W. Edwards
 President
        and Chief Executive Officer
 
 /s/
        Mark Danahy
 Mark
        Danahy
 Senior
        Vice President and Chief Financial Officer
  /s/
        Martin L. Foster
 Martin
        L.
        Foster
 Senior
        Vice President - Loan Servicing