UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    FORM 10-K

(Mark One)
|X| ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT
OF 1934 For the fiscal year ended: December 31, 2006
                                       or
|_| TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
  SECURITIES EXCHANGE ACT OF 1934
For Transition period ______________________________


             Commission File Number of issuing entity: 333-131211-15
          GMACM HOME EQUITY LOAN TRUST 2006-HE5 (Exact name of issuing
                       entity as specified in its charter)

                    RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC.
              (Exact name of depositor as specified in its charter)

                               GMAC MORTGAGE, LLC
               (Exact name of sponsor as specified in its charter)

                                    Delaware
                        --------------------- ---------
        (State or other jurisdiction of incorporation or organization of
                               the issuing entity)

                             c/o GMAC Mortgage, LLC
                                 100 Witmer Road
                           Horsham, Pennsylvania 19044

           (Address of principal executive offices of issuing entity)

                                  215-682-1000

                     (Telephone number, including area code)

                                      None
                               ----------- -----
                      (I.R.S. Employer Identification No.)

                                       N/A
           (Former name, former address, if changed since last report)

Securities  registered  pursuant to Section  12(b) of the Act:  None  Securities
Registered  pursuant to Section 12(g) of the Act: None Indicate by check mark if
the registrant is a well-known  seasoned  issuer,  as defined in Rule 405 of the
Securities Act.
Yes |_|  No  |X|
Indicate  by  check  mark if the  registrant  is not  required  to file  reports
pursuant to Section 13 or Section 15(d) of the Act.

<PAGE>

Yes |X|  No  |_|
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.
|X| Yes         |_| No
Indicate by check mark if disclosure of delinquent  filers  pursuant to Item 405
of Regulation  S-K is not contained  herein,  and will not be contained,  to the
best of registrant's  knowledge,  in definitive proxy or information  statements
incorporated  by reference in Part II of the Form 10-K or any  amendment to this
Form 10-K. |X| [Item 405 of Regulation S-K is not applicable.] Indicate by check
mark whether the registrant is a large accelerated  filer, an accelerated filer,
or a  non-accelerated  filer.  See  definition of  "accelerated  filer and large
accelerated  filer"  in Rule  12b-2 of the  Exchange  Act.  (Check  one):  Large
accelerated filer |_| Accelerated filer |_|  Non-accelerated  filer |X| Indicate
by check mark  whether  the  registrant  is a shell  company (as defined in Rule
12b-2 of the Act). Yes |_| No |X| Registrant has no voting or non-voting  common
equity outstanding held by non-affiliates.


<PAGE>


                                     PART I

THE FOLLOWING ITEMS HAVE BEEN OMITTED IN ACCORDANCE  WITH GENERAL  INSTRUCTION J
TO FORM 10-K:

Item 1: Business.
Item 1A: Risk Factors.
Item 2: Properties.
Item 3: Legal Proceedings.
Item 4: Submission of Matters to a Vote of Security Holders.


ITEM 1B. UNRESOLVED STAFF COMMENTS.

Not Applicable.

SUBSTITUTE INFORMATION PROVIDED IN ACCORDANCE WITH GENERAL INSTRUCTION J TO FORM
10-K:

ITEM 1112(B) OF REGULATION AB. SIGNIFICANT OBLIGORS OF POOL
ASSETS (FINANCIAL INFORMATION).

None.

ITEM 1114(B)(2) OF REGULATION AB: CREDIT ENHANCEMENT AND OTHER
SUPPORT, EXCEPT FOR CERTAIN DERIVATIVES INSTRUMENTS (FINANCIAL
INFORMATION).

See Exhibit 99.1.

ITEM 1115(B) OF REGULATION AB: CERTAIN DERIVATIVES INSTRUMENTS
(FINANCIAL INFORMATION).

Based  on the  standards  set  forth  in  Item  1115(b)  of  Regulation  AB,  no
information is required in response to this Item.

ITEM 1117 OF REGULATION AB: LEGAL PROCEEDINGS.

There are no material pending legal or other proceedings  involving the mortgage
loans or GMAC Mortgage,  LLC, as sponsor,  servicer or  originator,  Residential
Asset  Mortgage  Products,  Inc.,  as  depositor,  GMACM Home  Equity Loan Trust
2006-HE5,  as the issuing  entity,  or other  parties  described in Item 1117 of
Regulation AB, that,  individually  or in the  aggregate,  would have a material
adverse impact on investors in the notes.

GMAC  Mortgage,  LLC is currently a party to various legal  proceedings  arising
from time to time in the ordinary course of its business,  some of which purport
to be class actions. Based on information currently available, it is the opinion
of GMAC Mortgage,  LLC that the eventual outcome of any currently  pending legal
proceeding,  individually or in the aggregate,  will not have a material adverse
effect on its ability to perform  its  obligations  in relation to the  mortgage
loans. No assurance, however, can be given that the final outcome of these legal
proceedings, if unfavorable,  either individually or in the aggregate, would not
have a material  adverse  impact on GMAC  Mortgage,  LLC.  Any such  unfavorable
outcome could adversely affect the ability of GMAC Mortgage,  LLC to perform its
servicing  duties with respect to the mortgage loans and potentially lead to the
replacement of GMAC Mortgage, LLC with a successor servicer.


                                     PART II

THE FOLLOWING ITEMS HAVE BEEN OMITTED IN ACCORDANCE  WITH GENERAL  INSTRUCTION J
TO FORM 10-K:

Item 5: Market for Registrant's Common Equity, Related
        Stockholder Matters and Issuer Purchases of Equity
        Securities.
Item 6: Selected Financial Data.
Item 7: Management's Discussion and Analysis of Financial
        Condition and Results of Operations.
Item 7A:   Quantitative and Qualitative Disclosures about Market
        Risk.
Item 8: Financial Statements and Supplementary Data.
Item 9: Changes in and Disagreements with Accountants on
        Accounting and Financial Disclosure.
Item 9A:   Controls and Procedures.

ITEM 9B: OTHER INFORMATION.

None.

                                    PART III

THE FOLLOWING ITEMS HAVE BEEN OMITTED IN ACCORDANCE  WITH GENERAL  INSTRUCTION J
TO FORM 10-K:

Item 10: Directors and Executive Officers of the Registrant.
Item 11: Executive Compensation.
Item 12: Security Ownership of Certain Beneficial Owners and
         Management and Related Stockholder Matters.
Item 13:   Certain Relationships and Related Transactions.
Item 14:   Principal Accountant Fees and Services.


<PAGE>

SUBSTITUTE INFORMATION PROVIDED IN ACCORDANCE WITH GENERAL INSTRUCTION J TO FORM
10-K:

ITEM 1119 OF REGULATION AB:  AFFILIATIONS AND CERTAIN
RELATIONSHIPS AND RELATED TRANSACTIONS.

Information  contemplated  by Item 1119 of  Regulation  AB has been omitted from
this report in reliance on the Instruction to Item 1119.

ITEM 1122 OF REGULATION AB: COMPLIANCE WITH APPLICABLE SERVICING
CRITERIA.

Each of GMAC Mortgage,  LLC, The Bank of New York Trust  Company,  N.A. and GMAC
Bank (each, a "Servicing  Participant") has been identified by the registrant as
a party  participating in the servicing function with respect to the pool assets
held by the Issuing Entity. Each Servicing Participant has completed a report on
an  assessment  of compliance  with the  servicing  criteria  applicable to such
Servicing  Participant  (each, a "Report on Assessment") as of December 31, 2006
and for the period  covered by this Form 10-K,  which Reports on Assessment  are
attached as exhibits to this Form 10-K. In addition,  each Servicing Participant
has  provided  an  attestation  report  (each,  an  "Attestation  Report")  by a
registered  independent  public  accounting firm regarding its related Report on
Assessment. Each Attestation Report is attached as an exhibit to this Form 10-K.

A Servicing  Participant may engage one or more vendors to perform  specific and
limited,  or scripted  activities  that  address all or a portion of one or more
servicing criteria applicable to such Servicing Participant. In general in these
cases,  the Servicing  Participant  has  instituted  policies and  procedures to
monitor whether such vendors'  activities  comply in all material  respects with
such  servicing  criteria,  and may elect to take  responsibility  for assessing
compliance with the servicing criteria applicable to such vendors' activities in
such  Servicing   Participant's  Report  on  Assessment.   Where  the  Servicing
Participant  has not  instituted  such  policies  and  procedures,  or where the
Servicing  Participant  does  not  otherwise  elect to take  responsibility  for
assessing its vendors'  activities,  the vendor is itself treated as a Servicing
Participant  and is required to provide its own Report on Assessment and related
Attestation Report.

Except as disclosed below, no Report on Assessment or related Attestation Report
has identified  (i) any material  instance of  noncompliance  with the servicing
criteria  identified  in such Report on  Assessment as applicable to the related
Servicing  Participant  or  (ii)  any  material  deficiency  in  such  Servicing
Participant's policies and procedures to monitor vendor compliance.

Exceptions:

GMAC Mortgage,  LLC: The Report on Assessment prepared by GMAC Mortgage, LLC and
the related Attestation Report have identified  material  noncompliance with one
servicing  criterion  applicable to it.  Specifically,  with regard to servicing
criterion 1122(d)(3)(i)(B) (which contemplates that reports to investors provide
information calculated in accordance with the terms specified in the transaction
agreements),  information  required by the  transaction  agreements was excluded
from,  or  incorrectly  reported  in,  certain  of  the  investor  reports.  The
registrant does not believe these reporting  errors had any material  impacts or
effects on investors  and  corrective  action was  completed to address  ongoing
compliance.


<PAGE>

Platform-Level Reports:

Regulations of the Securities and Exchange  Commission  (the "SEC") require that
each  Servicing  Participant  complete a Report on  Assessment  at a  "platform"
level,  meaning that the transactions covered by the Report on Assessment should
include  all  asset-backed  securities  transactions  involving  such  Servicing
Participant  that are backed by the same asset type.  More recent  guidance from
the SEC staff identifies additional parameters which a Servicing Participant may
apply to define  and  further  limit its  platform.  For  example,  a  Servicing
Participant  may define its  platform  to include  only  transactions  that were
completed  on or after  January  1, 2006 and that were  registered  with the SEC
pursuant  to  the  Securities  Act  of  1933.  Each  Servicing   Participant  is
responsible  for defining its own platform,  and each  platform  will  naturally
differ based on various factors,  including the Servicing Participant's business
model and the transactions in which it is involved.

Based on our understanding of their platforms and the guidance that is available
at this time, we believe that the parameters by which the Servicing Participants
have defined their platforms should be permissible.  However,  because the SEC's
regulations  are new and the guidance  that is available at this time is subject
to clarification or change, we cannot assure you that the SEC and its staff will
necessarily agree.

ITEM 1123 OF REGULATION AB: SERVICER COMPLIANCE STATEMENT.

GMAC Mortgage,  LLC (as  "Servicer")  has been identified by the registrant as a
servicer  with  respect  to the pool  assets  held by the  Issuing  Entity.  The
Servicer has provided a statement of compliance with its  obligations  under the
servicing agreement  applicable to it (a "Compliance  Statement") for the period
covered by this Form 10-K, signed by an authorized officer of the Servicer.  The
Compliance Statement is attached as an exhibit to this Form 10-K. The Compliance
Statement  has not  identified  any  instance  where the  Servicer has failed to
fulfill its obligations under the applicable servicing agreement in any material
respects.


                                     PART IV

ITEM 15.   EXHIBITS, FINANCIAL STATEMENT SCHEDULES.

      (a)(1) Not Applicable.

      (a)(2) Not Applicable.

      (a)(3) Not Applicable.

      (b) Exhibits.


<PAGE>

EXHIBIT
NUMBER                           DESCRIPTION
---------  ---------------------------------------------------------
3.1        Certificate of Incorporation of Residential Asset
           Mortgage Products, Inc. (incorporated by reference to
           the Annual Report on Form 10-K for the period ended
           December 31, 2006, filed by RAMP Series 2006-EFC1 Trust
           with the Securities and Exchange Commission).
3.2        Bylaws of Residential Asset Mortgage Products, Inc.
           (incorporated by reference to the Annual Report on Form
           10-K for the period ended December 31, 2006, filed by
           RAMP Series 2006-EFC1 Trust with the Securities and
           Exchange Commission).
4.1        Servicing Agreement, dated as of November 29, 2006,
           among GMAC Mortgage, LLC, as servicer, the GMACM Home
           Equity Loan Trust 2006-HE5, as the issuing entity, and
           The Bank of New York Trust Company, N.A., as indenture
           trustee (incorporated by reference to the Report on
           Form 8-K filed by the Issuing Entity with the
           Securities and Exchange Commission on December 14,
           2006).
4.2        Trust Agreement, dated as of November 29, 2006, between
           Residential Asset Mortgage Products, Inc., as
           depositor, and Wilmington Trust Company, as owner
           trustee (incorporated by reference to the Report on
           Form 8-K filed by the Issuing Entity with the
           Securities and Exchange Commission on December 14,
           2006).
4.3        Indenture, dated as of November 29, 2006, between the
           GMACM Home Equity Loan Trust 2006-HE5, as the issuing
           entity, and The Bank of New York Trust Company, N.A.,
           as indenture trustee (incorporated by reference to the
           Report on Form 8-K filed by the Issuing Entity with the
           Securities and Exchange Commission on December 14,
           2006).
10.1       Mortgage  Loan  Purchase  Agreement,  dated as of November  29, 2006,
           among GMAC  Mortgage,  LLC,  as seller  and  servicer,  Walnut  Grove
           Mortgage Loan Trust 2003-A,  as seller,  Residential  Asset  Mortgage
           Products, Inc., as purchaser,  GMACM Home Equity Loan Trust 2006-HE5,
           as the issuing entity, and The Bank of New York Trust Company,  N.A.,
           as indenture trustee (incorporated by reference to the Report on Form
           8-K/A filed by the Issuing  Entity with the  Securities  and Exchange
           Commission on December 21, 2006).
10.2       The Financial  Guaranty  Insurance  Policy,  dated as of November 29,
           2006,  Policy No. 06030127,  issued by Financial  Guaranty  Insurance
           Corporation  (incorporated  by  reference  to the  Report on Form 8-K
           filed  by  the  Issuing  Entity  with  the  Securities  and  Exchange
           Commission on December 14, 2006).
10.3       Confirmation,  dated as of November 29, 2006, between The Bank of New
           York Trust Company,  N.A., not in its individual  capacity but solely
           as indenture  trustee,  for the benefit of the GMACM Home Equity Loan
           Trust 2006-HE5, and Bear Stearns Financial Products Inc (incorporated
           by  reference  to the Report on Form 8-K filed by the Issuing  Entity
           with the Securities and Exchange Commission on December 14, 2006).
31.1       Certification    of   GMAC    Mortgage,    LLC   pursuant   to   Rule
           13a-14(d)/15d-14(d) under the Securities Exchange Act of 1934.
33.1       Report on Assessment of Compliance  with  Servicing  Criteria of GMAC
           Mortgage,  LLC as of December 31, 2006 and for the period  covered by
           this Form 10-K.
33.2       Report on  Assessment of Compliance  with  Servicing  Criteria of The
           Bank of New York Trust Company,  N.A. as of December 31, 2006 and for
           the period covered by this Form 10-K.
33.3       Report on Assessment of Compliance  with  Servicing  Criteria of GMAC
           Bank as of December 31, 2006 and for the period  covered by this Form
           10-K.
34.1       Attestation  Report of  PricewaterhouseCoopers  LLP on  Assessment of
           Compliance with Servicing Criteria relating to GMAC Mortgage, LLC.
34.2       Attestation  Report of Ernst & Young, LLP on Assessment of Compliance
           with  Servicing  Criteria  relating  to The  Bank of New  York  Trust
           Company, N.A.
34.3       Attestation  Report of  PricewaterhouseCoopers  LLP on  Assessment of
           Compliance with Servicing Criteria relating to GMAC Bank.
35.1       Servicer Compliance Statement of GMAC Mortgage, LLC.
99.1       Financial Statements of Financial Guaranty Insurance
           Company for the Period Ended December 31, 2006.
99.2       Mortgage Loan Schedule (incorporated by reference to
           the  Report  on  Form  8-K  filed  by the  Issuing  Entity  with  the
           Securities and Exchange Commission on December 14, 2006).
99.3       Subsequent Transfer Agreement (Pre-Funding), dated as of December 26,
           2006, by and between GMAC  Mortgage,  LLC, as seller,  and GMACM Home
           Equity Loan Trust 2006-HE5,  as the issuing entity  (incorporated  by
           reference to the Report on Form 8-K filed by the Issuing  Entity with
           the Securities and Exchange Commission on December 29, 2006).
99.4       Subsequent  Mortgage Loan  Schedule  (Pre-Funding)  (incorporated  by
           reference to the Report on Form 8-K filed by the Issuing  Entity with
           the Securities and Exchange Commission on December 29, 2006).

      (c) Not Applicable.



<PAGE>



                                   SIGNATURES

Pursuant to the  requirements of Section 13 or 15(d) 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.

Date:  March 26, 2007
                               GMACM HOME EQUITY LOAN TRUST
                               2006-HE5

                                  By:  GMAC Mortgage, LLC,
                                        as Servicer

                                        By:  /s/ Anthony N.Renzi
                                           Name: Anthony N. Renzi
                                           Title:  Executive Vice President





<PAGE>


                                INDEX TO EXHIBITS

EXHIBIT
NUMBER                           DESCRIPTION
---------  ---------------------------------------------------------
3.1        Certificate of Incorporation of Residential Asset
           Mortgage Products, Inc. (incorporated by reference to
           the Annual Report on Form 10-K for the period ended
           December 31, 2006, filed by RAMP Series 2006-EFC1 Trust
           with the Securities and Exchange Commission).
3.2        Bylaws of Residential Asset Mortgage Products, Inc.
           (incorporated by reference to the Annual Report on Form
           10-K for the period ended December 31, 2006, filed by
           RAMP Series 2006-EFC1 Trust with the Securities and
           Exchange Commission).
4.1        Servicing Agreement, dated as of November 29, 2006,
           among GMAC Mortgage, LLC, as servicer, the GMACM Home
           Equity Loan Trust 2006-HE5, as the issuing entity, and
           The Bank of New York Trust Company, N.A., as indenture
           trustee (incorporated by reference to the Report on
           Form 8-K filed by the Issuing Entity with the
           Securities and Exchange Commission on December 14,
           2006).
4.2        Trust Agreement, dated as of November 29, 2006, between
           Residential Asset Mortgage Products, Inc., as
           depositor, and Wilmington Trust Company, as owner
           trustee (incorporated by reference to the Report on
           Form 8-K filed by the Issuing Entity with the
           Securities and Exchange Commission on December 14,
           2006).
4.3        Indenture, dated as of November 29, 2006, between the
           GMACM Home Equity Loan Trust 2006-HE5, as the issuing
           entity, and The Bank of New York Trust Company, N.A.,
           as indenture trustee (incorporated by reference to the
           Report on Form 8-K filed by the Issuing Entity with the
           Securities and Exchange Commission on December 14,
           2006).
10.1       Mortgage  Loan  Purchase  Agreement,  dated as of November  29, 2006,
           among GMAC  Mortgage,  LLC,  as seller  and  servicer,  Walnut  Grove
           Mortgage Loan Trust 2003-A,  as seller,  Residential  Asset  Mortgage
           Products, Inc., as purchaser,  GMACM Home Equity Loan Trust 2006-HE5,
           as the issuing entity, and The Bank of New York Trust Company,  N.A.,
           as indenture trustee (incorporated by reference to the Report on Form
           8-K/A filed by the Issuing  Entity with the  Securities  and Exchange
           Commission on December 21, 2006).
10.2       The Financial  Guaranty  Insurance  Policy,  dated as of November 29,
           2006,  Policy No. 06030127,  issued by Financial  Guaranty  Insurance
           Corporation  (incorporated  by  reference  to the  Report on Form 8-K
           filed  by  the  Issuing  Entity  with  the  Securities  and  Exchange
           Commission on December 14, 2006).
10.3       Confirmation,  dated as of November 29, 2006, between The Bank of New
           York Trust Company,  N.A., not in its individual  capacity but solely
           as indenture  trustee,  for the benefit of the GMACM Home Equity Loan
           Trust 2006-HE5, and Bear Stearns Financial Products Inc (incorporated
           by  reference  to the Report on Form 8-K filed by the Issuing  Entity
           with the Securities and Exchange Commission on December 14, 2006).
31.1       Certification    of   GMAC    Mortgage,    LLC   pursuant   to   Rule
           13a-14(d)/15d-14(d) under the Securities Exchange Act of 1934.
33.1       Report on Assessment of Compliance  with  Servicing  Criteria of GMAC
           Mortgage,  LLC as of December 31, 2006 and for the period  covered by
           this Form 10-K.
33.2       Report on  Assessment of Compliance  with  Servicing  Criteria of The
           Bank of New York Trust Company,  N.A. as of December 31, 2006 and for
           the period covered by this Form 10-K.
33.3       Report on Assessment of Compliance  with  Servicing  Criteria of GMAC
           Bank as of December 31, 2006 and for the period  covered by this Form
           10-K.
34.1       Attestation  Report of  PricewaterhouseCoopers  LLP on  Assessment of
           Compliance with Servicing Criteria relating to GMAC Mortgage, LLC.
34.2       Attestation  Report of Ernst & Young, LLP on Assessment of Compliance
           with  Servicing  Criteria  relating  to The  Bank of New  York  Trust
           Company, N.A.
34.3       Attestation  Report of  PricewaterhouseCoopers  LLP on  Assessment of
           Compliance with Servicing Criteria relating to GMAC Bank.
35.1       Servicer Compliance Statement of GMAC Mortgage, LLC.
99.1       Financial Statements of Financial Guaranty Insurance
           Company for the Period Ended December 31, 2006.
99.2       Mortgage Loan Schedule (incorporated by reference to
           the  Report  on  Form  8-K  filed  by the  Issuing  Entity  with  the
           Securities and Exchange Commission on December 14, 2006).
99.3       Subsequent Transfer Agreement (Pre-Funding), dated as of December 26,
           2006, by and between GMAC  Mortgage,  LLC, as seller,  and GMACM Home
           Equity Loan Trust 2006-HE5,  as the issuing entity  (incorporated  by
           reference to the Report on Form 8-K filed by the Issuing  Entity with
           the Securities and Exchange Commission on December 29, 2006).
99.4       Subsequent  Mortgage Loan  Schedule  (Pre-Funding)  (incorporated  by
           reference to the Report on Form 8-K filed by the Issuing  Entity with
           the Securities and Exchange Commission on December 29, 2006).