**Exhibit33.2**

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**Management’sReport on Assessment of Compliance with Applicable Servicing Criteria**

JPMorgan Chase Bank, National Association (the “AssertingParty”) is responsible for assessing compliance as of September 30, 2006 andfor the period from January 1, 2006 through September 30, 2006 (the “ReportingPeriod”), with the servicing criteria set forth in Title 17, Section 229.1122(d) of the Code of Federal Regulations (the “CFR”), to the extent required bythe related transaction agreements and excluding the criteria set forth in 17CFR 229.1122(d) (1)(ii)-(iv), (2)(iii), (2)(vi), (4)(i)-(ii), and (4)(iv)-(xiv)which the Asserting Party has concluded are not applicable to the activities itperforms with respect to the asset-backed securitization transactions coveredby this report (such criteria, after giving effect to the exclusions identifiedabove, the “Applicable Servicing Criteria”). This report covers certainasset-backed securities transactions backed by residential mortgages, homeequity loans, auto loans, credit card receivables, dealer floor plans, retailinstallment contracts and manufactured housing contracts for which transactionsthe Asserting Party performs the Applicable Servicing Criteria as trustee,securities administrator or paying agent that were registered with theSecurities and Exchange Commission pursuant to the Securities Act of 1933, asamended, where the related asset-backed securities were outstanding during thereporting period (the “Platform”), as listed in Appendix A.

The Asserting Party has (i) used the criteria setforth in 17 CFR 229.1122(d) to assess the compliance by the Asserting Partywith the Applicable Servicing Criteria for the Reporting Period and (ii)concluded that, other than as identified on Appendix B, the Asserting Party hascomplied, in all material respects, with the Applicable Servicing Criteria asof September 30, 2006 and for the Reporting Period with respect to thePlatform, taken as a whole.

PricewaterhouseCoopers LLP, an independent registeredpublic accounting firm, has issued an attestation report for the Platform,stating that the Asserting Party has complied with the Applicable ServicingCriteria, except for material instances of non-compliance identified onAppendix B, as of September 30, 2006 and for the Reporting Period.

JPMorgan Chase Bank, National Association
| /s/ Kelly A. Mathieson                 |   |
|----------------------------------------|--------|
| Kelly A.  Mathieson, Managing Director |
| Date: March 14,  2007                  |

 

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**AppendixA**

BA Master Credit CardTrust IICapital Auto Receivables Asset Trust 2006-1Capital One Auto Finance Trust 2006-ACapital One Auto Finance Trust 2006-BCapital One Prime Auto Receivables Trust, 2006-1Centex Home Equity Loan Trust 2006-AChase Auto Owner Trust 2006-AChase Auto Owner Trust 2006-BChase Credit Card Master Trust, Series 1996-2 (Class A and B)Chase Credit Card Master Trust, Series 1996-3 (Class A and B)Chase Credit Card Master Trust, Series 2001-1Chase Credit Card Master Trust, Series 2001-2Chase Credit Card Master Trust, Series 2001-4Chase Credit Card Master Trust, Series 2001-6Chase Credit Card Master Trust, Series 2002-1Chase Credit Card Master Trust, Series 2002-3Chase Credit Card Master Trust, Series 2002-5Chase Credit Card Master Trust, Series 2002-7Chase Credit Card Master Trust, Series 2003-1Chase Credit Card Master Trust, Series 2003-2Chase Credit Card Master Trust, Series 2003-3Chase Credit Card Master Trust, Series 2003-4Chase Credit Card Master Trust, Series 2003-5Chase Credit Card Master Trust, Series 2003-6Chase Credit Card Master Trust, Series 2004-1Chase Credit Card Master Trust, Series 2004-2Chase Mortgage Finance Trust Series 2006-A1Chase Mortgage Finance Trust Series 2006-S1Chase Mortgage Finance Trust Series 2006-S2ChaseFlex Trust Series 2006-1ChaseFlex Trust Series 2006-2Citigroup Mortgage Loan Trust 2006-CB3CNH Equipment Trust 2006-ACNH Equipment Trust 2006-BCWHEQ Revolving Home Equity Loan Trust, Series 2006- FCWHEQ Revolving Home Equity Loan Trust, Series 2006-ACWHEQ Revolving Home Equity Loan Trust, Series 2006-BCWHEQ Revolving Home Equity Loan Trust, Series 2006-CCWHEQ Revolving Home Equity Loan Trust, Series 2006-DCWHEQ Revolving Home Equity Loan Trust, Series 2006-ECWHEQ Revolving Home Equity Loan Trust, Series 2006-GCWHEQ Revolving Home Equity Loan Trust, Series 2006-HDaimlerChrysler Auto Trust 2006-AFord Credit Floorplan Master Owner Trust A, Series 2006-3Ford Credit Floorplan Master Owner Trust A, Series 2006-4GMACM Home Equity Loan Trust 2006-HE1GMACM Home Equity Loan Trust 2006-HE2GMACM Home Equity Loan Trust 2006-HE3GMACM Home Equity Loan Trust 2006-HE4GMACM Home Loan Trust 2006-HLTV1GMACM Mortgage Loan Trust 2006-AR2GS Auto Loan Trust 2006-1GSAA Home Equity Trust 2006-1GSAA Home Equity Trust 2006-12GSAA Home Equity Trust 2006-3GSAA Home Equity Trust 2006-5GSAA Home Equity Trust 2006-6

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GSAA Home Equity Trust2006-9GSR Mortgage Loan Trust 2006-4FHonda Auto Receivables 2006-1 Owner TrustIXIS Real Estate Capital Trust 2006-HE1IXIS Real Estate Capital Trust 2006-HE2J.P. Morgan Mortgage Acquisition Corp. 2006-FRE1J.P. Morgan Mortgage Acquisition Corp. 2006-FRE2J.P. Morgan Mortgage Acquisition Corp. 2006-HE1J.P. Morgan Mortgage Acquisition Corp. 2006-WMC1J.P. Morgan Mortgage Acquisition Trust 2006-ACC1J.P. Morgan Mortgage Acquisition Trust 2006-CW1J.P. Morgan Mortgage Acquisition Trust 2006-HE2J.P. Morgan Mortgage Acquisition Trust 2006-NC1J.P. Morgan Mortgage Acquisition Trust 2006-NC2J.P. Morgan Mortgage Acquisition Trust 2006-RM1J.P. Morgan Mortgage Acquisition Trust 2006-WMC2J.P. Morgan Mortgage Acquisition Trust 2006-WMC3Nationstar Home Equity Loan Trust 2006-BNewcastle Mortgage Securities Trust 2006-1NovaStar Mortgage Funding Trust, Series 2006-1NovaStar Mortgage Funding Trust, Series 2006-2NovaStar Mortgage Funding Trust, Series 2006-3NovaStar Mortgage Funding Trust, Series-2006-MTA1Origen Manufactured Housing Contract Trust 2006-AOwnit Mortgage Loan Trust, Series 2006-1 TrustPopular ABS Mortgage Pass-Through Trust 2006-APopular ABS Mortgage Pass-Through Trust 2006-BPopular ABS Mortgage Pass-Through Trust 2006-CPopular ABS Mortgage Pass-Through Trust 2006-DRAAC Series 2006-SP1 TrustRAAC Series 2006-SP2 TrustRAAC Series 2006-SP3 TrustRAMP Series 2006-RS1 TrustRAMP Series 2006-RS2 TrustRAMP Series 2006-RS3 TrustRAMP Series 2006-RS4 TrustRAMP Series 2006-RS5 TrustRAMP Series 2006-RZ1 TrustRAMP Series 2006-RZ2 TrustRAMP Series 2006-RZ3 TrustRAMP Series 2006-RZ4 TrustRFMSII Series 2006-HSA1 TrustThe Home Equity Loan Trust 2006-HSA2The Home Equity Loan Trust 2006-HSA3The Home Equity Loan Trust 2006-HSA4The Home Equity Loan Trust 2006-HSA5The Home Loan Trust 2006-HI1The Home Loan Trust 2006-HI2The Home Loan Trust 2006-HI3The Home Loan Trust 2006-HI4USAA Auto Owner Trust 2006-1USAA Auto Owner Trust 2006-2

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APPENDIX B

Material Instances ofNoncompliance

During theReporting Period, the Company has identified the following material instancesof noncompliance the Applicable Servicing Criteria.

CFR Item1122(d)(3)(i): Certain monthly investor reports omitted information required bythe transaction agreements and/or contained errors in the informationpresented.

CFR Item1122(d)(3)(ii): Certain monthly investor distributions contained errors as toamounts due to certain investors.

Remediation Efforts

Errors and omissions were corrected and appropriatemeasures were taken to avoid similar errors and omissions.

 

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