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

                                    FORM 10-K

     [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
         EXCHANGE ACT OF 1934

     For the fiscal year ended December 31, 2007

     [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

     For the transition period to __________ from _______________

     Commission file number of issuing entity: 333-139817-04

                       GSAA Home Equity Trust 2007-S1
          (Exact name of Issuing Entity as specified in its Charter)

                       GS Mortgage Securities Corp.
      (Exact name of registrant (depositor) as specified in its Charter)

                     Goldman Sachs Mortgage Company
             (Exact name of sponsor as specified in its Charter)

                                                       REMIC I  20-8699714
                                                      REMIC II  20-8699732
                                                     REMIC III  20-8699747
                   New York                           REMIC IV  20-8699764
           (State or other jurisdiction                  (I.R.S. Employer
         incorporation or organization                Identification Number)
               of issuing entity)                        of issuing entity)

          c/o Deutsche Bank National Trust Company
          1761 East St. Andrew Place
          Santa Ana, California                                  92705
 (Address of principal executive offices                     (Zip Code of
         of issuing entity)                                issuing entity)

            Issuing Entity's telephone number, including area code:
                               (714) 247-6000

          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.  Yes[ ] No[X]

     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.  Yes [X]  No [ ]

     Indicate by check mark if disclosure of delinquent filers pursuant to
     Item 405 of Regulation S-K (Section 229.405 of this chapter) is not
     contained herein, and will not be contained, to the best of the
     registrant's knowledge, in definitive proxy or information statements
     incorporated by reference in Part III of the Form 10-K or any amendment
     to this Form 10-K.         Not Applicable.

     Indicate by check mark whether the registrant is a large accelerated
     filer, an accelerated filer, a non-accelerated filer, or a smaller
     reporting company.  See the definitions of "large accelerated
     filer," "accelerated filer" and "smaller reporting company in Rule 12b-2
     of the Exchange Act.  (Check One):

      Large accelerated filer [  ]  Accelerated Filer [  ]
      Non-accelerated Filer [X] (Do not Check if a smaller reporting company)
      Smaller reporting company [  ]

     Indicate by check mark whether the registrant is a shell company (as
     defined in Rule 12b-2 of the Act).  [  ] Yes  [X] No

     State the aggregate market value of the voting and non-voting common
     equity held by non-affiliates computed by reference to the price at
     which the common equity was last sold, or the average bid and asked
     price of such common equity, as of the of the last business day of
     the registrant's most recently completed second fiscal quarter

     Not Applicable.

     DOCUMENTS INCORPORATED BY REFERENCE

     See Item 15(a).

                                     PART I

     ITEM 1.  Business.

     Not Applicable.

     ITEM 1A.  Risk Factors.

     Not Applicable.

     ITEM 1B.  Unresolved Staff Comments.

     None.

     ITEM 2.  Properties.

     Not Applicable.

     ITEM 3.  Legal Proceedings.

     Not Applicable.

     ITEM 4.  Submission of Matters to a Vote of Security Holders.

     Not Applicable.

                                     PART II

     ITEM 5.  Market for Registrant's Common Equity, Related Stockholder
     Matters and Issuer Purchases of Equity Securities.

     Not Applicable.

     ITEM 6.  Selected Financial Data.

     Not Applicable.

     ITEM 7.  Management's Discussion and Analysis of Financial Condition and
     Results of Operations.

     Not Applicable.

     ITEM 7A.  Quantitative and Qualitative Disclosures About Market Risk.

     Not Applicable.

     ITEM 8.  Financial Statements and Supplementary Data.

     Not Applicable.

     ITEM 9.  Changes in and Disagreements with Accountants on Accounting and
     Financial Disclosure.

     Not Applicable.

     ITEM 9A.  Controls and Procedures.

     Not Applicable.

     ITEM 9A(T).  Controls and Procedures.

     Not Applicable.

     ITEM 9B. Other Information.

     None.

                                     PART III

     ITEM 10.  Directors, Executive Officers and Corporate Governance.

     Not Applicable.

     ITEM 11.  Executive Compensation.

     Not Applicable.

     ITEM 12.  Security Ownership of Certain Beneficial Owners and Management
               and Related Stockholder Matters.

     Not Applicable.

     ITEM 13.  Certain Relationships and Related Transactions, and
               Director Independence.

     Not Applicable.

     ITEM 14.  Principal Accountant Fees and Services.

     Not Applicable.

              ADDITIONAL DISCLOSURE ITEM FOR REGULATION AB

     Item 1112(b) of Regulation AB, Significant Obligors Pool Assets
     (Financial Information).

     No single obligor represents 10% or more of the pool assets held by the
     issuing entity.

     Item 1114(b)(2) of Regulation AB, Significant Enhancement Provider
     Information.

     This report does not include audited financial statements of CIFG
     Assurance North America, Inc. ("CIFG") as of December 31, 2007 required
     by Item 1114(b)(2) of Regulation AB.  CIFG has informed the Registrant
     that it is currently working closely with its accountants to finalize
     its GAAP financials for that period.

     The Registrant will continue to endeavor to obtain from CIFG the
     audited financial statements of CIFG for the fiscal year ended
     December 31, 2007.  If and when it receives such financial statements,
     the Registrant will file an amendment to this report that includes such
     financial statements.  However, there can be no assurance as to when,
     or if, such financial statements will be delivered to the Registrant.

     Item 1115(b) of Regulation AB, Certain Derivative Instruments.

     Goldman Sachs Mitsui Marine Derivative Products, L.P. provides an interest
     rate swap agreement for the issuing entity.   No additional disclosure is
     necessary because the significance percentage for the interest rate swap
     agreement is less than 10%.

     Item 1117 of Regulation AB, Legal Proceedings.

     Legal Proceedings Regarding Ocwen Loan Servicing, LLC

     As of the date of the 424(b)(5) filing, Ocwen Loan Servicing, LLC
    ("Ocwen"), as successor in interest to Ocwen Federal Bank, and OCN were
     defendants in several potential class action lawsuits challenging
     Ocwen's mortgage servicing practices.  To date, no such lawsuit has
     been certified by any court as a class action.  On April 13, 2004,
     these lawsuits were consolidated in a single proceeding in the
     United States District Court for the District of Illinois under caption
     styled:
     Ocwen Federal Bank FSB Mortgage Servicing Litigation, MDL Docket No. 1604.
     Ocwen believes that its servicing practices comply with legal
     requirements and is vigorously defending against such lawsuits.  Ocwen
     is also subject to various other routine pending litigation in the
     ordinary course of its business.  While the outcome of litigation is
     always uncertain, Ocwen's management is of the opinion that the
     resolution of any of these claims and lawsuits will not have a material
     adverse effect on the results of its operations or financial condition
     or its ability to service the mortgage loans.

     On February 9, 2006, a trial court in Galveston, Texas entered judgment
     in the amount of $1.8 million in compensatory and statutory damages and
     attorneys' fees against Ocwen in favor of a plaintiff borrower whose
     mortgage loan was serviced by Ocwen.  The plaintiff brought the claims
     under the Texas Deceptive Trade Practices Act and other state statutes
     and common law generally alleging that Ocwen engaged in improper loan
     servicing practices.  Ocwen believes that the judgment is against the
     weight of evidence and contrary to law and that the attorneys' fees award,
     which comprises $1.1 million of the judgment should be reduced as
     impermissibly excessive.  Ocwen appealed the decision and will continue
     to vigorously defend this matter.

     On September 13, 2006, a complaint was filed in the United States
     Bankruptcy Court in Delaware against Ocwen and other parties by the
     Chapter 7 Trustee of American Business Financial Services, Inc. and its
     subsidiaries (collectively, "ABFS") alleging various improper activities
     and conduct that have harmed ABFS.  Claims against Ocwen include damages
     resulting from improperly servicing mortgage loans included in ABFS-
     sponsored securitizations and from actions relating to the acquisition
     of servicing rights from ABFS on those securitizations.  Ocwen believes
     the claims made by ABFS are without merit and intends to vigorously
     defend the matter.

     The litigation which had an initial judgment against Ocwen rendered on
     February 9, 2006, in a trial court in Galveston, Texas concluded with a
     final settlement on January 16, 2008.  There are no further updates to
     the disclosure of legal proceedings previously provided in the
     Prospectus Supplement.

     As of the date of the 424(b)(5) filing, Ocwen Loan Servicing, LLC
     ("Ocwen"), as successor in interest to Ocwen Federal Bank, and OCN were
     defendants in several potential class action lawsuits challenging Ocwen's
     mortgage servicing practices.  To date, no such lawsuit has been certified
     by any court as a class action.  On April 13, 2004, these lawsuits were
     consolidated in a single proceeding in the United States District Court
     for the District of Illinois under caption styled:  Ocwen Federal Bank
     FSB Mortgage Servicing Litigation, MDL Docket No. 1604.  Ocwen believes
     that its servicing practices comply with legal requirements and is
     vigorously defending against such lawsuits.  Ocwen is also subject to
     various other routine pending litigation in the ordinary course of its
     business.  While the outcome of litigation is always uncertain, Ocwen's
     management is of the opinion that the resolution of any of these claims
     and lawsuits will not have a material adverse effect on the results of
     its operations or financial condition or its ability to service the
     mortgage loans.

     On February 9, 2006, a trial court in Galveston, Texas entered judgment
     in the amount of $1.8 million in compensatory and statutory damages and
     attorneys' fees against Ocwen in favor of a plaintiff borrower whose
     mortgage loan was serviced by Ocwen.  The plaintiff brought the claims
     under the Texas Deceptive Trade Practices Act and other state statutes
     and common law generally alleging that Ocwen engaged in improper loan
     servicing practices.  Ocwen believes that the judgment is against the
     weight of evidence and contrary to law and that the attorneys' fees award,
     which comprises $1.1 million of the judgment should be reduced as
     impermissibly excessive.  Ocwen appealed the decision and will continue
     to vigorously defend this matter.

     On September 13, 2006, a complaint was filed in the United States
     Bankruptcy Court in Delaware against Ocwen and other parties by the
     Chapter 7 Trustee of American Business Financial Services, Inc. and its
     subsidiaries (collectively, "ABFS") alleging various improper activities
     and conduct that have harmed ABFS.  Claims against Ocwen include damages
     resulting from improperly servicing mortgage loans included in ABFS-
     sponsored securitizations and from actions relating to the acquisition of
     servicing rights from ABFS on those securitizations.  Ocwen believes the
     claims made by ABFS are without merit and intends to vigorously defend
     the matter.

     The litigation which had an initial judgment  against Ocwen rendered on
     February 9, 2006, in a trial court in Galveston, Texas concluded with a
     final settlement on January 16, 2008.  There are no further updates to
     the disclosure of legal proceedings previously provided in the 424(b)(5)
     filing.

     Item 1119 of Regulation AB, Affiliations and Certain Relationships and
     Related Transactions.

     The information regarding this Item has been previously filed in a
     424(b)(5) filed on February 28, 2007 (Commission File No. 333-139817-04).

     Item 1122 of Regulation AB, Compliance with Applicable Servicing Criteria.

     a) See Exhibits 33 and 34.

     b) Material instances of noncompliance:

     Avelo Mortgage, L.L.C. assessed its compliance with the Applicable
     Servicing Criteria for the year ended December 31, 2007 and has identified
     the following instances of non-compliance with the servicing criterion set
     forth in Items 1122(d)(2)(vii)(D) and 1122(d)(4)(x)(C) of Regulation AB
     with respect to the Platform. Specifically, account reconciling items were
     not resolved within 90 calendar days of their original identification, or
     such other number of days specified in the transaction agreements, as
     required by Item 1122(d)(2)(vii)(D)and Avelo Mortgage, L.L.C. did not
     return to the obligor funds held in trust for an obligor within 30 calendar
     days of full repayment of the related pool asset, as required by Item
     1122(d)(4)(x)(C).

     Avelo Mortgage, L.L.C. acknowledges that for a period in 2007, bank
     accounts were not reconciled in strict compliance with Reg. AB. To address
     this issue, Avelo Mortgage, L.L.C. added additional staff to ensure timely
     reconciliations and compliance with Reg AB. As of the date of the audit,
     all bank account reconciliations were current. No issues were found or
     arose from the delay in reconciling the bank accounts.

     Avelo Mortgage, L.L.C. also acknowledges that for a period in 2007, escrow
     funds were not returned to the obligor within 30 calendar days of full
     repayment in compliance with Reg. AB due to a system issue. A system
     enhancement erroneously affected the refund check process. Once the issue
     was identified, the system was corrected.

     As of the date of the audit, escrow fund refunds have been returned to the
     obligor within 30 calendar days and no issues were found or arose from the
     delay in returning the funds to the account holders.

     American Security Insurance Company, Standard Guaranty Insurance Company
     and TrackSure Insurance Agency, Inc. (collectively, "American Security")
     has assessed its compliance with the Applicable Servicing Criteria for
     the period of January 1, 2007 through December 31, 2007 (the "Reporting
     Period") and has identified a material instance of noncompliance with
     the Applicable Servicing Criteria.  Specifically, American Security did
     not have, during the Reporting Period, sufficient policies and
     procedures to capture the information with respect to the related
     platform transactions necessary to determine compliance with Item
     1122(d)(4)(xii).

     Item 1123 of Regulation AB, Servicer Compliance Statement.

     a) See Exhibit 35.

     b) Material instances of noncompliance:

     Specialized Loan Servicing LLC ("SLS") assessed its compliance with
     its obligations under the Pooling and Servicing Agreement ("PSA")
     throughout 2007 and determined that an SLS Event of Default was
     trigged under Section 7.01(m) of the PSA for which SLS notified the
     depositor who determined not to enforce the Event of Default. Other
     than this default, there have been no material defaults by SLS in the
     fulfillment of its obligations under the PSA during the 2007 calendar
     year, except to the extent that any material defaults have been reported
     in Exhibits 33.6 or 34.6.



                                      PART IV

     ITEM 15. Exhibits and Financial Statement Schedules.

     (a) List the following documents filed as a part of the report:

         (1) Not Applicable.


         (2) Not Applicable.

         (3)

        Exhibit 4.1 was filed as part of the Registrant's Current Report on
        Form 8-K (Commission File No. 333-139817-04) filed on March 19, 2007
        and is incorporated by reference herein.


        Exhibit 4.1 Pooling and Servicing Agreement, dated as of February 1,
        2007, among GS Mortgage Securities Corp., as depositor, Ocwen Loan
        Servicing, LLC, as a servicer Avelo Mortgage, L.L.C., as a servicer,
        Specialized Loan Servicing LLC, as a servicer, Wells Fargo Bank,
        National Association, as master servicer, U.S. Bank National
        Association, as a custodian and Deutsche Bank National Trust Company,
        as trustee.

        Exhibit 4.2 was filed as part of the Registrant's Current Report on
        Form 8-K (Commission File No. 333-139817-04) filed on October 23, 2007
        and is incorporated by reference herein.

        4.2  Amendment No. 1 dated as of October 19, 2007 to the Pooling and
        Servicing Agreement, dated as of February 1, 2007, among GS Mortgage
        Securities Corp., as depositor, Ocwen Loan Servicing, LLC, as a servicer
        Avelo Mortgage, L.L.C., as a servicer, Specialized Loan Servicing LLC,
        as a servicer, Wells Fargo Bank, National Association, as master
        servicer, U.S. Bank National Association, as a custodian and Deutsche
        Bank National Trust Company, as trustee.

        Exhibit 31 Rule 13a-14(d)/15d-14(d) Certification.

        Exhibit 33.1 Wells Fargo Bank, N.A.'s Annual Report on Assessment of
        Compliance for Year End December 31, 2007.

        Exhibit 33.2 Ocwen Loan Servicing, LLC's Annual Report on Assessment
        of Compliance for Year End December 31, 2007.

        Exhibit 33.3 Avelo Mortgage L.L.C's Annual Report on Assessment of
        Compliance for Year End December 31, 2007.

        Exhibit 33.4 First American Real Estate Solutions of Texas, L.P.'s
        Annual Report on Assessment of Compliance for Year End December
        31, 2007.

        Exhibit 33.5 American Security Insurance Company, Standard Guaranty
        Insurance Company and TrackSure Insurance Agency, Inc.'s Annual
        Report on Assessment of Compliance for Year End December 31, 2007.

        Exhibit 33.6 Specialized Loan Servicing LLC's Annual Report on
        Assessment of Compliance for Year End December 31, 2007.

        Exhibit 33.7 U.S. Bank National Association's Annual Report on
        Assessment of Compliance for Year End December 31, 2007.

        Exhibit 33.8 Deutsche Bank National Trust Company's Annual
        Report on Assessment of Compliance for Year End December 31, 2007.

        Exhibit 34.1 Attestation Report on Assessment of Compliance with
        Servicing Criteria for Wells Fargo Bank, N.A.'s Report (Exhibit 33.1)
        for Year End December 31, 2007

        Exhibit 34.2 Attestation Report on Assessment of Compliance with
        Servicing Criteria for Ocwen Loan Servicing, LLC's Report (Exhibit 33.2)
        for Year End December 31, 2007.

        Exhibit 34.3 Attestation Report on Assessment of Compliance with
        Servicing Criteria for Avelo Mortgage L.L.C's Report (Exhibit 33.3)
        for Year End December 31, 2007.

        Exhibit 34.4 Attestation Report on Assessment of Compliance with
        Servicing Criteria for First American Real Estate Solutions of Texas,
        L.P.'s Report (Exhibit 33.4) for Year End December 31, 2007.

        Exhibit 34.5 Attestation Report on Assessment of Compliance with
        Servicing Criteria for American Security Insurance Company, Standard
        Guaranty Insurance Company and TrackSure Insurance Agency, Inc.'s
        Report (Exhibit 33.5) for Year End December 31, 2007.

        Exhibit 34.6 Attestation Report on Assessment of Compliance with
        Servicing Criteria for Specialized Loan Servicing LLC's Report
        (Exhibit 33.6) for Year End December 31, 2007.

        Exhibit 34.7 Attestation Report on Assessment of Compliance with
        Servicing Criteria for U.S. Bank National Association's Report
        (Exhibit 33.7) for Year End December 31, 2007.

        Exhibit 34.8 Attestation Report on Assessment of Compliance with
        Servicing Criteria for Deutsche Bank National Trust Company's Report
        (Exhibit 33.8) for Year End December 31, 2007.

        Exhibit 35.1 Wells Fargo Bank, N.A.'s Annual Statement
        of Compliance for Year End December 31, 2007.

        Exhibit 35.2 Ocwen Loan Servicing, LLC's Annual Statement of
        Compliance for Year End December 31, 2007.

        Exhibit 35.3 Avelo Mortgage L.L.C's Annual Statement of Compliance
        for Year End December 31, 2007.

        Exhibit 35.4 Specialized Loan Servicing LLC's Annual Statement of
        Compliance for Year End December 31, 2007.

     (b) See (a) above.

     (c) Not Applicable.





                                      SIGNATURE

          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.


                               By: GS Mortgage Securities Corp.,
                                          as Depositor

                                      By:  /s/ Michelle Gill
                                           Michelle Gill
                                           Vice President
                                           (Senior Officer in Charge of
                                           Securitization of the Depositor)






     Date: March 31, 2008

     EXHIBIT INDEX

     Exhibit Document

        Exhibit 4.1 was filed as part of the Registrant's Current Report on
        Form 8-K (Commission File No. 333-139817-04) filed on March 19, 2007
        and is incorporated by reference herein.

        Exhibit 4.1 Pooling and Servicing Agreement, dated as of February 1,
        2007, among GS Mortgage Securities Corp., as depositor, Ocwen Loan
        Servicing, LLC, as a servicer Avelo Mortgage, L.L.C., as a servicer,
        Specialized Loan Servicing LLC, as a servicer, Wells Fargo Bank,
        National Association, as master servicer, U.S. Bank National
        Association, as a custodian and Deutsche Bank National Trust Company,
        as trustee.

        Exhibit 4.2 was filed as part of the Registrant's Current Report on
        Form 8-K (Commission File No. 333-139817-04) filed on October 23, 2007
        and is incorporated by reference herein.

        4.2  Amendment No. 1 dated as of October 19, 2007 to the Pooling and
        Servicing Agreement, dated as of February 1, 2007, among GS Mortgage
        Securities Corp., as depositor, Ocwen Loan Servicing, LLC, as a servicer
        Avelo Mortgage, L.L.C., as a servicer, Specialized Loan Servicing LLC,
        as a servicer, Wells Fargo Bank, National Association, as master
        servicer, U.S. Bank National Association, as a custodian and Deutsche
        Bank National Trust Company, as trustee.

        Exhibit 31 Rule 13a-14(d)/15d-14(d) Certification.

        Exhibit 33.1 Wells Fargo Bank, N.A.'s Annual Report on Assessment of
        Compliance for Year End December 31, 2007.

        Exhibit 33.2 Ocwen Loan Servicing, LLC's Annual Report on Assessment
        of Compliance for Year End December 31, 2007.

        Exhibit 33.3 Avelo Mortgage L.L.C's Annual Report on Assessment of
        Compliance for Year End December 31, 2007.

        Exhibit 33.4 First American Real Estate Solutions of Texas, L.P.'s
        Annual Report on Assessment of Compliance for Year End December
        31, 2007.

        Exhibit 33.5 American Security Insurance Company, Standard Guaranty
        Insurance Company and TrackSure Insurance Agency, Inc.'s Annual
        Report on Assessment of Compliance for Year End December 31, 2007.

        Exhibit 33.6 Specialized Loan Servicing LLC's Annual Report on
        Assessment of Compliance for Year End December 31, 2007.

        Exhibit 33.7 U.S. Bank National Association's Annual Report on
        Assessment of Compliance for Year End December 31, 2007.

        Exhibit 33.8 Deutsche Bank National Trust Company's Annual
        Report on Assessment of Compliance for Year End December 31, 2007.

        Exhibit 34.1 Attestation Report on Assessment of Compliance with
        Servicing Criteria for Wells Fargo Bank, N.A.'s Report (Exhibit 33.1)
        for Year End December 31, 2007

        Exhibit 34.2 Attestation Report on Assessment of Compliance with
        Servicing Criteria for Ocwen Loan Servicing, LLC's Report (Exhibit 33.2)
        for Year End December 31, 2007.

        Exhibit 34.3 Attestation Report on Assessment of Compliance with
        Servicing Criteria for Avelo Mortgage L.L.C's Report (Exhibit 33.3)
        for Year End December 31, 2007.

        Exhibit 34.4 Attestation Report on Assessment of Compliance with
        Servicing Criteria for First American Real Estate Solutions of Texas,
        L.P.'s Report (Exhibit 33.4) for Year End December 31, 2007.

        Exhibit 34.5 Attestation Report on Assessment of Compliance with
        Servicing Criteria for American Security Insurance Company, Standard
        Guaranty Insurance Company and TrackSure Insurance Agency, Inc.'s
        Report (Exhibit 33.5) for Year End December 31, 2007.

        Exhibit 34.6 Attestation Report on Assessment of Compliance with
        Servicing Criteria for Specialized Loan Servicing LLC's Report
        (Exhibit 33.6) for Year End December 31, 2007.

        Exhibit 34.7 Attestation Report on Assessment of Compliance with
        Servicing Criteria for U.S. Bank National Association's Report
        (Exhibit 33.7) for Year End December 31, 2007.

        Exhibit 34.8 Attestation Report on Assessment of Compliance with
        Servicing Criteria for Deutsche Bank National Trust Company's Report
        (Exhibit 33.8) for Year End December 31, 2007.

        Exhibit 35.1 Wells Fargo Bank, N.A.'s Annual Statement
        of Compliance for Year End December 31, 2007.

        Exhibit 35.2 Ocwen Loan Servicing, LLC's Annual Statement of
        Compliance for Year End December 31, 2007.

        Exhibit 35.3 Avelo Mortgage L.L.C's Annual Statement of Compliance
        for Year End December 31, 2007.

        Exhibit 35.4 Specialized Loan Servicing LLC's Annual Statement of
        Compliance for Year End December 31, 2007.