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


       Commission file number:  333-123741-17

       ACE Securities Corp. Home Equity Loan Trust, Series 2006-HE1
       (exact name of issuing entity as specified in its charter)

       ACE Securities Corp.
       (exact name of the depositor (as registrant on behalf of the issuing
       entity) as specified in its charter)

       DB Structured Products, Inc.
       (exact name of the sponsor as specified in its charter)


  Delaware                                          06-1442101
  (State or other jurisdiction of                   Depositor
  incorporation or organization)                    (I.R.S. Employer
                                                    Identification No.)


   ACE Securities Corp.
   6525 Morrison Boulevard Suite 318
   Charlotte, NC                                 28211
  (Address of principal executive offices)    (Zip Code)


  Registrant's telephone number, including area code: (704) 365-0569


  Securities registered pursuant to Section 12(b) of the Act:

        NONE.


  Securities registered pursuant to Section 12(g) of the Act:

        NONE.

  This report omits to disclose the Attestation Report of Fremont Investment &
  Loan required by Rule 15d-18 of the Securities Exchange Act of 1934, as
  amended.

  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 ( 229.405 of this chapter) 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 III of this 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, 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


  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 last business day of the registrant's most
  recently completed second fiscal quarter.

        Not applicable.


     Documents Incorporated by Reference

  List hereunder the following documents if incorporated by reference and
  the Part of the Form 10-K (e.g., Part I, Part II, etc.) into which the
  document is incorporated: (1)Any annual report to security holders; (2)
  Any proxy or information statement; and (3)Any prospectus filed pursuant
  to Rule 424(b) or (c) under the Securities Act of 1933. The listed
  documents should be clearly described for identification purposes (e.g.,
  annual report to security holders for fiscal year ended December 24, 1980).

        Not applicable.


                                   PART I
  Item 1.  Business.

            Omitted.


  Item 1A.  Risk Factors.

            Omitted.


  Item 1B.  Unresolved Staff Comments.

            None.


  Item 2.  Properties.

            Omitted.


  Item 3.  Legal Proceedings.

            Omitted.


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

            Omitted.


                                PART II

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

            Omitted.


  Item 6.  Selected Financial Data.

            Omitted.


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

            Omitted.


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

            Omitted.


  Item 8.  Financial Statements and Supplementary Data.

            Omitted.


  Item 9.  Changes in and Disagreements With Accountants on Accounting and
           Financial Disclosure.

            Omitted.


  Item 9A. Controls and Procedures.

            Omitted.


  Item 9A(T). Controls and Procedures.

            Omitted.


  Item 9B. Other Information.

            None.


                                PART III

  Item 10. Directors, Executive Officers and Corporate Governance.

            Omitted.


  Item 11. Executive Compensation.

            Omitted.

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

            Omitted.


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

            Omitted.


  Item 14. Principal Accounting Fees and Services.

            Omitted.



            ADDITIONAL DISCLOSURE ITEMS PURSUANT TO GENERAL INSTRUCTION J

  Item 1112(b) of Regulation AB, Significant Obligor Financial Information.

            None.

  Item 1114(b)(2) of Regulation AB, Credit Enhancement and Other Support,
            except for certain Derivative Instruments (Information regarding
            Significant Enhancement Providers Financial Information).

CIFG Assurance North America, Inc., insurer of the Class A-1B2 Certificates.

Financial Statements

December 31, 2006, 2005 and 2004


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CIFG Assurance North America, Inc.
Table of Contents



Report of Independent Auditors                                          2

Balance Sheets as of December 31, 2006 and 2005                         3

Statements of Operations for the years ended December 31, 2006,         4
         2005 and 2004

Statements of Changes in Shareholders Equity and Comprehensive
(Loss) Income for the years ended December 31, 2006, 2005 and 2004      5

Statements of Cash Flows for the years ended December 31, 2006,         6
         2005 and 2004

Notes to Financial Statements                                           7-26


(page)


(logo) PRICEWATERHOUSECOOPERS

PricewaterhouseCoopers LLP
PricewaterhouseCoopers Center
300 Madison Avenue
New York NY 10017
Telephone (646) 471 3000
Facsimile (813) 286 6000


Report of Independent Auditors

To Board of Directors and Shareholder of
CIFG Assurance North America, Inc:

In our opinion, the accompanying balance sheets and the related statements of
operations, changes in shareholder's equity and comprehensive income (loss), and
cash flows present fairly, in all material respects, the financial position of
CIFG Assurance North America, Inc. (the "Company") at December 31, 2006 and
2005, and the results of its operations and its cash flows for each of the three
years then ended in conformity with accounting principles generally accepted in
the United States of America. These financial statements are the responsibility
of the Company's management. Our responsibility is to express an opinion on
these financial statements based on our audits. We conducted our audits of these
statements in accordance with auditing standards generally accepted in the
United States of America. Those standards require that we plan and perform the
audit to obtain reasonable assurance about whether the financial statements are
free of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements,
assessing the accounting principles used and significant estimates made by
management, and evaluating the overall financial statement presentation. We
believe that our audits provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

New York, New York
March 27, 2007


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CIFG Assurance North America, Inc.
Balance Sheets
($ In '000s, except per share amount)

<TABLE>
<CAPTION>
<S>     <C>


                                                                        As of December 31,
                                                                        2006            2005

Assets
Investments
Fixed income securities available-for-sale, at fair value
   (amortized cost of $135,985 and $134,387)                        $   134,403      $  132,924
Short-term investments, at cost                                          39,588          24,652
Total Investments                                                       173,991         157,576

Cash                                                                      1,068           3,388
Premiums receivable                                                      11,436           7,515
Receivable for securities sold                                              ---           4,000
Investment income due and accrued                                         1,748           1,497
Prepaid reinsurance premiums                                            183,761         141,827
Reinsurance recoverable on unpaid loss and loss
 adjustment expense reserves                                              4,670           2,777
Derivative assets                                                            10               4
Intangible asset - licenses acquired in acquisition                       8,331           8,331
Current income taxes recoverable                                             42             ---
Total assets                                                        $   385,057     $   326,915

Liabilities and Shareholder's Equity
Liabilities
Deferred premium revenues                                           $   218,714     $   165,846
Loss and loss adjustment expense reserves                                 5,530           3,306
Deferred ceding commissions, net                                         18,373          13,267
Ceded reinsurance balances payable                                        6,463          12,949
Deferred fee income                                                       1,233             413
Ceding commission payable                                                   141             138
Current income taxes payable                                                ---              88
Derivative liabilities                                                       49              57
Balances due to affiliates                                               10,606           6,798
Other liabilities                                                         2,051           1,961
Total liabilities                                                       263,160         204,823

Shareholder's Equity
Common stock (par value $4,191.49 per share authorized, issued
 and outstanding shares 4,700)                                           19,700          19,700
Additional paid-in-capital                                              122,850         122,850
Accumulated deficit                                                     (19,072)        (18,995)
Accumulated other comprehensive loss (net of deferred
 income (benefit) taxes of $0, in 2006 and 2005)                         (1,581)         (1,463)
Total shareholder's equity                                              121,897         122,092
Total liabilities and shareholder's equity                          $   385,057     $   326,915

</TABLE>

The accompanying notes are an integral part of these financial statements.

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CIFG Assurance North America, Inc.
Statements of Operations
($ In '000s)

<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>

                                                           Years Ended December 31,
                                                        2006            2005            2004

Revenues
Gross premiums written                           $   101,665        $    94,256     $    55,146
Ceded premiums written                               (84,163)           (83,958)        (48,747)
Net premiums written                                  17,502             10,298           6,399
Change in net deferred premium
 revenue                                             (10,925)            (5,546)         (2,588)
Net premiums earned (net of ceded
 earned premiums of $42,322 in 2006,
 $27,267 in 2005 and $18,529 in 2004)                  6,577              4,752           3,811
Net investment income                                  6,677              4,098           2,273
Net realized investment (losses) gains                    (5)                (4)             10
Net realized and unrealized
 gains (losses) on credit derivatives                     14                (32)             (5)
Other income                                             217                 47              53
Total revenues                                        13,480              8,861           6,142

Expenses
Losses and loss adjustment
 expenses, net                                           331                236             199
Amortization of deferred ceding
 commissions                                          (8,794)            (3,158)         (2,042)
Amortization of deferred acquisition
 costs                                                 6,744              3,641           2,635
Operating expenses                                    14,892             11,826          10,822
Total expenses                                        13,173             12,545          11,614

Income (loss) before income taxes                        307             (3,684)         (5,472)
Provision for income taxes                               384                148             ---
Net Loss                                        $        (77)       $    (3,832)    $    (5,472)

</TABLE>


The accompanying notes are an integral part of these financial statements.


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CIFG Assurance North America, Inc.
Statements of Changes in Shareholder's Equity and Comprehensive (Loss) Income
($ In '000s, except per share amounts)

<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>

                                                           Years Ended December 31,
                                                        2006                  2005                      2004

Common Shares
Shares at beginning of period                          4,700                    4,700                   4,700
Shares as of December 31                               4,700                    4,700                   4,700

Common Stock
Balance at beginning of period                      $ 19,700                 $ 19,700                $ 19,700
Balance as of December 31                             19,700                   19,700                  19,700

Additional paid-in capital
Balance at beginning of period                       122,850                  122,850                 112,850
Capital contribution                                     ---                      ---                  10,000
Balance as of December 31                            122,850                  122,850                 122,850

Accumulated deficit
Balance at beginning of period                       (18,995)                 (15,163)                 (9,691)
Net loss                                                 (77)  $ (77)          (3,832)  $ (3,832)      (5,472)  $ (5,472)
Balance as of December 31                            (19,072)                 (18,995)                (15,163)

Accumulated other comprehensive (loss) income
Balance at beginning of period                        (1,463)                     (53)                    530
Net change in unrealized (depreciation) of AFS
 securities, net of deferred tax expense (benefit)
 expense of $0 in 2006, $28 in 2005, $(313) in 2004             (118)                     (1,410)                   (583)
Other comprehensive loss                                (118)   (118)          (1,410)    (1,410)        (583)      (583)
Total comprehensive loss                                      $ (195)                   $ (5,242)               $ (6,055)

 Balance as of December 31                            (1,581)                  (1,463)                    (53)
Total Shareholder's Equity                         $ 121,897                $ 122,092              $  127,334

                                                        2006                  2005                      2004
Disclosure of reclassification amounts
Unrealized (depreciation) arising during the period,
 net of taxes                                         $ (114)                $ (1,407)                 $ (590)
Less: reclassification adjustment for net (losses) and
 gains included in net income, net of taxes               (4)                      (3)                      7
Net unrealized (depreciation) of securities,          $ (118)                $ (1,410)                 $ (583)
 net of taxes

</TABLE>

The accompanying notes are an integral part of these financial statements.

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CIFG Assurance North America, Inc.
Statements of Cash Flows
($ In '000s)

<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>


                                                                                     Years ended December 31,
                                                                             2006             2005              2004

Cash flows from operating activities
Net Loss                                                                     $ (77)                 $ (3,832)        $  (5,472)

Adjustments to reconcile net loss to net cash
 provided (used) by operating activities:
Amortization of bond premium, net                                              283                        (5)              700
Net realized losses  (gains) on sale of investments                              5                         4               (10)
Increase in loss and loss adjustment reserves, net of
 reinsurance                                                                   331                       236               199
Increase in deferred premium revenues                                       52,868                    62,273            31,425
Increase in prepaid reinsurance premiums                                   (41,934)                  (56,722)          (28,975)
Decrease in deferred acquisition costs, net                                    ---                       ---             1,184
(Increase) in premiums receivable                                           (3,767)                   (2,484)             (947)
(Decrease) increase in ceded reinsurance balances payable                   (6,515)                    6,966           (12,766)
Increase (decrease) in ceding commissions payable                                3                      (107)             (372)
Increase  in investment income due and accrued                                (251)                     (878)              (37)
Increase in balances due to affiliates                                       3,808                     1,115               344
(Decrease) Increase in current income taxes payable                           (130)                       88               ---
Net realized and unrealized (gains) losses on credit                           (14)                       32                 5
 derivatives, net
Increase in deferred ceding commissions, net                                 5,106                    11,216             2,051
Other, net                                                                     645                     1,689               844
Total adjustments to net loss                                               10,438                    23,423            (6,355)
Net cash provided (used) by operating activities                            10,361                    19,591           (11,827)

Cash flows from investing activities
(Purchase) of fixed income securities                                      (38,299)                  (92,022)          (49,454)
(Purchase) sale of short-term investments, net                             (14,936)                   43,236            21,902
Proceeds from the sale of fixed income securities                               55                       180             3,760
Proceeds from the maturity of fixed income securities                       40,417                    26,098            31,819
       Net cash (used) provided by investing activities                    (12,763)                  (22,508)            8,027

Cash flows from financing activities
Capital contributions                                                          ---                       ---            10,000
Net cash provided by financing activities                                      ---                       ---            10,000

Effect of exchange rates on cash                                                82                      (263)             (155)

(Decrease) increase in cash                                                 (2,320)                   (3,180)            6,045
Cash at beginning of the year                                                3,388                     6,568               523
Cash at the end of the year                                                $ 1,068                   $ 3,388           $ 6,568

Supplemental disclosures of cash flow information
Federal Income Taxes paid                                                  $   294                   $    60           $   ---

</TABLE>

The accompanying notes are an integral part of these financial statements.

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(page)


CIFG Assurance North America, Inc.
Notes to Financial Statements
December 31, 2006, 2005 and 2004
(Dollar Amounts in Thousands)

1. Business and Organization

CIFG Assurance North America, Inc., ("CIFG NA" or the "Company") was
incorporated on April 11, 2002 in the State of New York. On May 24, 2002 the New
York State Insurance Department (NYSID) granted the Company a license to conduct
surety, credit, residual value and financial guaranty insurance. As of December
31, 2006, CIFG NA was licensed to transact financial guaranty insurance in 45
states and the U.S. Virgin Islands, District of Columbia and the Commonwealth of
Puerto Rico.

In prior years, the shares of CIFG NA were transferred by CIFG NA's direct
parent, CIFG Services, Inc. ("CIFG Services") to a voting trust to comply with
certain U.S. state restrictions regarding the ownership or control of U.S.
insurance companies by a foreign government or any agency or instrumentality
thereof. Under the terms of the Voting Trust Agreement, 80% of the trustees must
be directors or officers of CIFG Services, or Caisse Nationale des Caisses
d'Epargne ("CNCE"), an indirect parent of CIFG Holding. Although the shares are
legally owned by the voting trustees in accordance with the Voting Trust
Agreement, CIFG Services retains the economic benefits of the shares of CIFG NA.

CIFG Services is a management company that was incorporated in the state of
Delaware during 2001. CIFG Services is a wholly-owned subsidiary of CIFG
Guaranty, a reinsurance company that was registered in France by Registre du
Commerce et des Societes on March 30, 2001. CIFG Guaranty is a wholly-owned
subsidiary of CIFG Holding, a French corporation that acts as a holding company
for the CIFG group of companies. CIFG Guaranty owns 100% of the outstanding
shares of CIFG Services and CIFG Europe. CIFG Europe is a French licensed
insurance company authorized to write financial guaranty business throughout 20
member states of the European Union.

On November 17, 2006, Banque Federale des Banques Populaires ("BFBP") and CNCE
combined certain of their operations, through Natexis Banques Populaires
("Natexis). CNCE contributed CIFG Holding and its subsidiaries, as well as other
assets, to Natexis, which was simultaneously renamed "Natixis". As of December
31, 2006, CNCE and BFBP each owned 34.44% of Natixis, with 8.76% owned by Caisse
des Depots et Consignations ("CDC") (via CDC Finance Holding) and 22.36 % was
owned by public float and institutional shareholders. Until November 17, 2006,
CIFG Holding was wholly-owned by CNCE.

In the ordinary course of business, the Company issues financial guaranty
contracts in respect of certain obligations of certain variable interest
entities (VIEs). Specifically, CIFG NA has issued contracts in respect of
certain obligations of multiple distinct New York State business trusts,
collectively known as the New Generation Funding Trusts. The financial guaranty
contracts generally provide credit protection to investors who have entered into
credit derivative transactions with the respective VIEs. Other than the
transactions described above, the VIEs own no assets and have no outstanding
debt and, by virtue of the credit support provided by the financial guaranty
contracts, CIFG NA is considered to be the primary beneficiary of these VIEs.
Accordingly, these VIEs are consolidated.

Each of CIFG Guaranty, CIFG Europe and CIFG NA has received an insurer financial
strength rating of "AAA" from Fitch Ratings, an insurer financial strength
rating of "Aaa" from Moodys Investors Services Inc., and an insurer financial
strength and financial enhancement ratings of


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(page)


"AAA" from Standard and Poor's Rating Services ("S&P"), the highest rating
assigned by each rating agency.

2. Significant Accounting Policies

The financial statements have been prepared in accordance with accounting
principles generally accepted in the United States of America (U.S. GAAP), which
for insurance and reinsurance companies differ in certain respects from the
accounting practices prescribed or permitted by NYSID. The preparation of
financial statements in conformity with U.S. GAAP requires management to make
estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosures of contingent assets and liabilities at the date of
the financial statements, and the reported amounts of revenues and expenses
during the reporting period. Actual results could differ from those estimates.

Significant accounting policies are as follows:

Investments
The Company's investment portfolio is accounted for on a trade-date basis.
Investments in fixed income securities that are considered available-for-sale
("AFS") are carried at fair value, with unrealized gains and losses, net of
deferred taxes, reflected in Other Comprehensive Income ("OCI"). Short-term
investments are stated at amortized cost, which approximates fair value.
Unrealized gains and losses are calculated using amortized cost as the basis.
AFS investments denominated in currencies other than the U.S. dollar are
accounted for at their U.S. dollar equivalent using exchange rates in effect at
the balance sheet date. Changes in values due to currency fluctuations are
recorded as unrealized gains or losses on AFS securities, net of deferred taxes,
in OCI.

For purposes of computing amortized cost, premiums and discounts are accounted
for using the effective yield method over the remaining terms of securities
acquired. For premium on bonds that do not have call features, such premiums are
amortized over the remaining terms of the securities.

The Company's process for identifying declines in the fair value of investments
that are other than temporary involves consideration of multiple factors. These
factors include current economic conditions, market prices, issuer-specific
developments, the time period during which there has been a significant decline
in value and the Company's intent and ability to hold the investment for a
sufficient period of time for the value to recover. If the Company's analysis of
these factors results in the determination that the decline is other-than
temporary, CIFG NA writes down the carrying value of the investment to fair
value and records a realized loss. As of December 31, 2006 and 2005, there were
no declines in fair value deemed to be other than temporary.

Realized gains and losses on the sale of investments are determined on the basis
of first in, first out ("FIFO"). Investment income is recorded when earned.

Deferred Acquisition Costs (DAC) and Deferred Ceding Commissions
Certain costs incurred, primarily related to and varying with the production of
new financial guaranty business, excluding financial guaranty contracts
accounted for as derivatives, have


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(page)


been deferred (DAC). These costs include direct and indirect expenses related to
underwriting and contract origination expenses, rating agency fees and premium
taxes.

The Company receives ceding commissions under its ceded reinsurance contracts as
compensation for acquisition costs incurred. Ceding commissions are deferred.

The Company considers deferred premium revenue and the present value of future
premiums due to the Company under installment contracts when determining the
recoverability of DAC. DAC and deferred ceding commissions are amortized into
the income statement over the periods in proportion to the earnings of the
related premiums. Deferred ceding commissions are presented in the balance sheet
net of DAC.

Premium Revenue Recognition
Premiums received at the inception of the policy, or otherwise "up-front"
premiums, are earned pro-rata over the period of the underlying risk in
proportion to the amount of risk outstanding over the expected period of
coverage. The amount of risk outstanding is equal to the sum of the par amount
of the debt insured. Installment premiums written are recognized ratably over
each installment period. If a guaranteed issue is retired early, the remaining
deferred premium will be earned, and any related unamortized DAC and deferred
ceding commissions will be recognized immediately. Deferred premium revenue and
prepaid reinsurance premiums represent the portion of gross and ceded premium
written, respectively, which has been allocated to the unexpired underlying
risk.

Losses and Loss Adjustment Expense Reserves
Loss and loss adjustment reserves are established for financial guaranty
contracts subject to SFAS 60 - "Accounting and Reporting by Insurance
Enterprises" ("FAS 60"). The reserve for losses and loss adjustment expenses
consists of active credit reserves and case basis loss and loss adjustment
expense reserves. The development of active credit reserves is based upon
estimates of the expected levels of debt service payment defaults on currently
guaranteed issues that are not presently or imminently in default, and by
reference to financial guaranty industry historical loss experience. The
determination of the reserve is primarily based on an analysis of expected
losses as a percentage of expected premium on the outstanding insured portfolio,
pursuant to which, active credit reserves are provided on a periodic basis as a
function of regular financial guaranty premiums earned to date.

The Company monitors active credit reserves on an ongoing basis and adjusts
these reserves based on actual loss experience, considering the changes in the
mix of business and economic conditions. Case basis loss reserves will be
recorded when it is probable that a loss has been incurred and the amount of
such loss can be reasonably estimated. When losses occur, case basis loss
reserves will be established in an amount that is sufficient to cover the
present value of the anticipated defaulted debt service payments over the
expected period of default and estimated expenses associated with settling the
claims, less estimated recoveries under salvage or subrogation rights. The
active credit reserve is available to be applied against future case basis loss
reserves and any related adjustments. As of December 31, 2006 and 2005, there
were no case basis loss reserves recorded.

The Company's loss reserving policy, described above, is based on guidance
provided in FAS 60, SFAS 5 - "Accounting for Contingencies", and analogies to
Emerging Issues Task Force


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(page)


(EITF) 85-20, "Recognition of Fees for Guaranteeing a Loan." FAS 60 requires
that, for short-duration contracts, a liability for unpaid claim costs relating
to insurance contracts, including estimates of costs relating to incurred but
not reported claims, be accrued when insured events occur. Additionally, SFAS 5
requires that a loss be recognized where it is probable that one or more future
events will occur confirming that a liability has been incurred at the date of
the financial statements and the amount of loss can be reasonably estimated.

Management believes that the Company's reserves are adequate to cover the
ultimate net cost of claims. However, because the reserves are based on
management's judgment and estimates, there can be no assurance that the ultimate
liability will not exceed such estimates.

Income Taxes
The Company is included in the consolidated U.S. tax return of CIFG Services.
The tax provision for CIFG NA is determined on a stand-alone-basis.

Deferred income taxes are provided with respect to the temporary differences
between the tax bases of assets and liabilities and the reported amounts in the
financial statements that will result in deductible or taxable amounts in future
years when the reported amount of the asset or liability is recovered or
settled. Such temporary differences relate principally to premium revenue
recognition, deferred acquisition costs, deferred ceding commissions, net
operating losses, and unrealized appreciation or depreciation of investments. A
valuation allowance is established when it is more likely than not (a likelihood
of more than 50 percent) that some portion or the entire deferred tax asset will
not be realized.

Reinsurance
In the normal course of business, the Company seeks to reduce its financial
guaranty exposure by reinsuring certain levels of risk with other insurance
enterprises or reinsurers. Reinsurance premiums ceded and related commissions
recorded are deferred and recognized in earnings on a pro-rata basis over the
period the related financial guaranty coverage is provided.

Intangible Assets
In prior years, the Company's acquisition of Western Continental Insurance
Company ("WCIC") resulted in an intangible asset for the fair value of the
insurance licenses acquired, which is carried in the balance sheet. The Company
has determined that the licenses have an indefinite life and, therefore, are not
being amortized. The recoverability of the carrying value of the intangible
asset is evaluated annually based on a review of forecasted discounted cash
flows and by referencing other available information. As of December 31, 2006
and 2005, there were no adjustments to the carrying value of the intangible
asset.

Derivative Contracts
The Company has issued insurance policies that do not qualify for the financial
guaranty scope exception under FAS 133 and 149. These contracts are recorded at
fair value which is determined using models developed by the Company. The models
include various assumptions such as an expected loss projection. The valuation
results from these models could differ materially from amounts that might
actually be realized in the market.

The Company believes that the most meaningful income statement presentation of
derivative revenues is to reflect them as premiums written when installments are
received, as premium earned over the installment period, with changes in fair
value recorded as "net realized and


-10-


(page)


unrealized gains (losses) on credit derivatives." Derivative assets and
liabilities are presented on a gross basis in the balance sheet.

Variable Interest Entities (VIEs)
From time to time, the Company guarantees payment obligations of counterparties,
including VIEs that may enter into credit default swaps ("CDS") with third
parties. The Company provides financial guarantees covering certain obligations
of these entities at market rates and consolidates those VIEs where the Company
is determined to be the primary beneficiary.

Foreign currency translation
Functional currencies are generally the currencies of the local operating
environment. CIFG NA's functional currency is the U.S. dollar. CIFG NA's
financial statements include balances denominated in currencies other than the
U.S. dollar which are converted to the U.S. dollar at exchange rates in effect
at the balance sheet dates with income statement accounts converted using daily
exchange rates which are averaged on a year-to-date basis.

Foreign currency transaction gains and losses, as well as gains and losses
arising from the re-valuation of assets (excluding AFS investments) and
liabilities denominated in non-functional currencies are reflected in net
income.

Recent Accounting Developments
In February 2006, the Financial Accounting Standards Board (the "FASB") issued
SFAS No. 155, "Accounting for Certain Hybrid Financial Instruments" ("FAS 155"),
which amends SFAS No. 133, "Accounting for Derivative Instruments and Hedging"
("FAS 133") and SFAS No. 140, "Accounting for Transfers and Servicing of
Financial Assets and Extinguishment of Liabilities." FAS 155 permits an election
for hybrid instruments that contain an embedded derivative that otherwise would
require bifurcation to irrevocably be accounted for at fair value, with changes
in fair value recognized in the statement of operations and comprehensive
income. The fair value election may be applied on an instrument-by-instrument
basis. FAS 155 also eliminates a restriction on qualifying special purpose
entities from holding passive derivative instruments. FAS 155 is effective for
all financial instruments acquired or issued after December 15, 2006.

The FASB's Derivative Implementation Group ("DIG") issued DIG Issue B40 -
"Embedded Derivatives: Application of Paragraph 13(b) to Securitized Interests
in Prepayable Financial Assets" ("DIG B40") in December of 2006. DIG B40
provides a scope exception on performing embedded derivative tests required
under FAS 133 related to rate of returns for certain securitized interests. DIG
B40 is required to be applied upon adoption of FAS 155. The Company is in the
process of evaluating the impact of FAS 155 and DIG B40 on its financial
statements.

In June 2006, the FASB issued FASB Interpretation ("FIN") No. 48, "Accounting
for Uncertainty in Income Taxes", an interpretation of SFAS No. 109, "Accounting
for Income Taxes" ("FAS 109"). FIN 48 requires that the Company determine
whether a tax position is more likely than not to be sustained under
examination, including resolution of any related appeals or litigation
processes, based on the technical merits of the position. If a tax position does
not meet the more likely than not threshold, the benefit is not recognized in
the financial statements. If the Company determines that a position meets the
recognition threshold, the position is measured to determine the amount of the
benefit that may be recognized in the financial statements based on criteria set
forth in the pronouncement. FIN 48 also provides guidance on derecognition,
classification of

-11-


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interest and penalties, accounting in interim periods and disclosure. FIN 48 is
applicable for fiscal years beginning after December 15, 2006. The Company is in
the process of evaluating the impact of FIN 48 on its financial statements.

The FASB issued FAS No. 157, "Fair Value Measurement" ("FAS 157") in September
2006. This pronouncement defines fair value, establishes a framework for
measuring fair value and enhances the footnote disclosures pertaining to fair
value. Fair values are evaluated using a hierarchy (Levels 1, 2, & 3), which is
based on the level of inputs used for the valuation. The input levels range from
quotable market prices to unobservable inputs such as an entity's own internal
data. The disclosure requirements vary amongst the fair value hierarchy levels.
FAS 157 is applicable to financial statements issued for fiscal years beginning
after November 15, 2007 and for interim periods within those fiscal years. The
Company is in the process of evaluating the impact of FAS 157 on its financial
statements.

On February 15, 2007 the FASB issued SFAS No. 159 - "The Fair Value Option for
Financial Assets and Financial Liabilities including an amendment of FASB No.
115" ("FAS 159"), which provides companies with an option to report selected
financial assets and liabilities at fair value. The objective of this
pronouncement is to reduce both complexity in accounting for financial
instruments and the volatility in earnings caused by measuring related assets
and liabilities differently. FAS 159 also establishes presentation and
disclosure requirements designed to facilitate comparisons between companies
that choose different measurement attributes for similar types of assets and
liabilities. FAS 159 is applicable for fiscal years beginning after November 15,
2007. The Company is in the process of evaluating the impact of FAS 159 on its
financial statements.

Due to the diversity of accounting practices in the financial guaranty industry,
the FASB undertook a project in 2005 to consider the accounting model for
financial guaranty insurers. An exposure draft is expected in 2007. The current
accounting model used by the Company may change significantly. Until the FASB
issues specific guidance, the Company intends to continue to apply its existing
accounting policies. It is not possible to predict the impact that the FASBs
project may have on the Company's accounting practices.

3. Related Parties

Administrative Services and Property Agreement
The Company participates in a Management Services Agreement with CIFG Services,
which has been approved by the NYSID. Under this agreement CIFG Services
provides the Company with management services, including office space and
furniture and equipment used by the Company. Under the terms of this agreement,
operating expenses are allocated based on the requirements of Regulation 30 of
the NYSID. In 2006, 2005 and 2004, expenses charged by CIFG Services to the
Company under this agreement were $33.5, $23.5, and $21.3 million, respectively.

Facultative Reinsurance Agreements
CIFG Guaranty participates in a Master Facultative Reinsurance Agreement
("Agreement") with CIFG NA. Under the terms of this Agreement, CIFG Guaranty has
the option to reinsure up to 90% of CIFG NAs acceptable risks. CIFG Guaranty
pays a ceding commission on premiums ceded under the terms of this Agreement.
Premiums ceded by CIFG NA and assumed by CIFG

-12-


(page)


Guaranty under this facultative reinsurance agreement were $84.2, $84.0, and
$48.7 million for 2006, 2005 and 2004, respectively.

As of December 31, 2006 and 2005, CIFG Guaranty pledged to CIFG NA U.S. dollar
denominated investments with a fair value of $273.0 and $168.2 million
respectively, to support its reinsurance coverage in accordance with New York
State insurance regulatory requirements. The assets pledged are maintained in a
secured trust on behalf of CIFG NA, for its sole use and benefit in accordance
with New York State insurance regulation 11NYCRR 126.

Financial Guarantees
In the normal course of business, CIFG NA enters into certain financial guaranty
contracts with affiliates on terms that management believes are on an
arms-length basis. The affiliates involved are Credit Foncier ("Foncier") and
IXIS Corporate & Investment Bank ("IXIS CIB"). Gross premiums written on
policies closed with IXIS CIB during 2006, 2005 and 2004 were $2.8 million, $608
thousand and $207 thousand, respectively. Gross premiums written on policies
with Foncier during 2006, 2005 and 2004 were nil, $8.9 million and $4.5 million,
respectively.

Capital Maintenance Agreement
The Company has entered into an irrevocable keep-well capital maintenance
agreement with CIFG Guaranty. The agreement requires CIFG Guaranty to contribute
capital to the Company if at any time the capital of the Company falls below $80
million, so as to maintain minimum capital at that level.

Tax Sharing Agreement
The Company files a consolidated Federal income tax return with CIFG Services,
and files separate-company state and local income tax returns. The method of
allocation between the companies in the consolidated Federal income tax return
is subject to a tax allocation agreement approved by the Board of Directors of
CIFG NA and the NYSID. Pursuant to this tax allocation agreement between the
companies, total Federal income tax expense is determined on a separate company
basis. Members with losses record tax benefits to the extent such losses are
recognizable on a separate company basis. Inter-company tax balances are settled
on a periodic basis, no less than annually.

4. Deferred Acquisition Costs and (Deferred Ceding Commissions)
Acquisition costs and ceding commissions are deferred and amortized in
proportion to the related premium revenue to be recognized in future periods.
The commission income and acquisition costs deferred and related amortization
are as follows:

<TABLE>
<CAPTION>
<S>     <C>    <C>

                                                                        As of December 31,
                                                                        2006            2005

Deferred ceding commissions, net,
 beginning of period                                                $   (13,267)     $   (2,051)
Current year costs:
Deferred acquisition costs                                               16,419          12,715
Deferred ceding commissions                                             (23,575)        (23,448)
 Net                                                                     (7,156)        (10,733)
Net amortization during the period                                        2,050            (483)
Deferred ceding commissions, net, end of
 period                                                             $   (18,373)    $   (13,267)

</TABLE>

-13-


(page)


During the fourth quarter of 2006 the Company conducted its annual DAC study,
which encompassed both a review of deferrable costs and the amortization pattern
of DAC and deferred ceding commissions. In addition, the Company enhanced its
policy systems in 2006, allowing it to update its exposure with more current
policy information received from external parties. These modifications have
resulted in a change in accounting estimate for DAC, the effect of which has
been reflected on a prospective basis in these financial statements in
accordance with SFAS No. 154 - "Accounting Changes and Error Corrections, a
replacement of APB No. 20 and FASB Statement No. 3". Approximately $1.5 million
is included in the "amortization of deferred acquisition costs" as a charge to
the income statement.

5. Investments

The Company's investment objective is to optimize after-tax returns while
emphasizing the preservation of capital through the maintenance of high-quality
investments with adequate liquidity. The weighted-average credit quality of the
fixed income portfolio, which excludes short-term investments, was AAA with no
investment rated below BBB as rated by S&P.

Short-term investments consist of United States government obligations (61%) and
money market instruments (39%).

The following tables set forth the amortized cost and fair value of the fixed
income securities and short-term investments included in the investment
portfolio of CIFG NA:

<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>    <C>

                                                              December 31, 2006

                                                        Gross           Gross
                                        Amortized     Unrealized      Unrealized     Fair
                                        Cost            Gains           Losses       Value

United States government obligations    $  68,453      $       8       $    (897)   $   67,564
State and municipal obligations            16,642            ---            (452)       16,190
US Agencies                                43,027              3            (347)       42,683
Corporate obligations                       4,118            ---             (26)        4,092
Non- US *                                   3,744            130             ---         3,874
Short term                                 39,588            ---             ---        39,588
Total                                   $ 175,572      $     141       $  (1,722)   $  173,991


                                                              December 31, 2005
                                                        Gross           Gross
                                        Amortized     Unrealized      Unrealized     Fair
                                        Cost            Gains           Losses       Value

United States government obligations    $  99,307      $      27       $  (1,050)  $    98,284
State and municipal obligations            15,682             21            (246)       15,457
US Agencies                                14,070             46            (241)       13,875
Corporate obligations                       4,144              4             ---         4,148
Non- US *                                   1,184            ---             (24)        1,160
Short term                                 24,652            ---             ---        24,652
Total                                   $ 159,039      $      98       $  (1,561)  $   157,576

<FN>
* Principally euro-denominated debt securities issued by European governments and European municipalities.
</FN>

</TABLE>

Fixed income investments carried at fair value of approximately of $9.1 and $9.2
million as of December 31, 2006 and 2005, respectively, were on deposit with
various regulatory authorities to comply with insurance laws.

-14-


(page)


The Company maintains a portion of its cash and investments under a custody
agreement with one financial institution that the Company considers of high
quality.

The following table sets forth the distribution by contractual maturity of
investments at amortized cost and fair value at December 31, 2006 and 2005.
Actual maturities may differ from contractual maturities because borrowers may
have the right to call or prepay obligations.

<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>    <C>

                                                                  December 31,
                                                   2006                          2005
                                        Amortized     Fair Value      Amortized     Fair Value
                                            Cost                          Cost
Due in one year or less                 $  73,829      $  73,730      $  61,110      $  60,986
Due after one year through five years      76,219         75,086         75,725         74,594
Due after five years through ten years     22,484         22,337         19,164         19,072
Due over ten years                          3,040          2,838          3,040          2,924
Total                                   $ 175,572      $ 173,991      $ 159,039      $ 157,576

</TABLE>

As of December 31, 2006 and 2005 no single issuer, excluding U.S. government
obligations, exceeds 10% of shareholder's equity.

The following investment table presents the Company's gross unrealized losses
and fair value, aggregated by investment category and length of time that
individual securities have been in a continuous unrealized loss position at
December 31, 2006 and 2005:

<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>    <C>    <C>    <C>

                                       Greater than 12 months      Less than 12 months        Total

                                        Fair       Unrealized      Fair     Unrealized      Fair        Unrealized
        2006                            Value        Losses        Value      Losses        Value         Losses

United States government
obligations                           $  58,263     $    (879)    $   8,578   $    (18)    $  66,841      $   (897)
State and municipal
obligations                              15,166          (442)        1,023        (10)       16,189          (452)
US Agencies                              10,250          (237)       28,974       (110)       39,224          (347)
Corporate obligations                       ---           ---         4,093        (26)        4,093           (26)
Non-US *                                    ---           ---           ---        ---           ---           ---
Total temporarily impaired
fixed income securities               $  83,679     $  (1,558)    $  42,668   $   (164)    $ 126,347      $ (1,722)

                                       Greater than 12 months      Less than 12 months        Total

                                        Fair       Unrealized      Fair     Unrealized      Fair        Unrealized
        2005                            Value        Losses        Value      Losses        Value         Losses

United States government
obligations                           $  46,792     $    (559)    $  42,714   $   (491)    $  89,506      $ (1,050)
State and municipal
obligations                                 ---           ---         9,197       (246)        9,197          (246)
US Agencies                                 ---           ---        10,377       (241)       10,377          (241)
Corporate obligations                       ---           ---           ---        ---           ---           ---
Non-US *                                    ---           ---         1,160        (24)        1,160           (24)
Total temporarily impaired
fixed income securities               $  46,792     $    (559)    $  63,448   $ (1,002)    $ 110,240      $ (1,561)

<FN>
* Principally euro-denominated debt securities issued by European governments and European municipalities.
</FN>

</TABLE>

-15-


(page)


The unrealized losses in the Company's investment portfolio were caused by
increases in interest rates. The Company evaluated the credit rating of these
securities and noted no significant credit deterioration. Since the decline in
market value is related to changes in interest rates and not credit quality, and
the Company has the intent and ability to hold the investments until the value
recovers, the Company does not consider these investments to be other than
temporarily impaired as of December 31, 2006 and 2005.

Net investment income was comprised of the following:

<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>

                                                                   December 31,
                                                    2006             2005             2004
Fixed income securities                             $  4,815          $   3,511      $    1,086
Short-term investments                                 2,064                729           1,326
Total Investment income                                6,879              4,240           2,412
Investment expenses                                     (202)              (142)           (139)
Net investment income                               $  6,677          $   4,098      $    2,273

</TABLE>

Net realized (losses) gains from fixed income securities were comprised of the
following:

<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>

                                                                   December 31,
                                                    2006             2005             2004
Gross gains                                         $    ---          $     ---      $       10
Gross losses                                              (5)                (4)            ---
 Net realized capital (loss)
 gains                                              $     (5)         $      (4)     $       10

</TABLE>

Proceeds from the sale of fixed income securities were $55 thousand, $180
thousand, and $3.8 million for the periods ended December 31, 2006, 2005 and
2004, respectively.

6. Reinsurance

The Company participates in a Facultative Reinsurance Agreement with CIFG
Guaranty. The Company utilizes reinsurance principally to increase capacity and
to reduce the risk of loss on financial guaranty business underwritten. The
Company is liable with respect to reinsurance ceded to the extent that CIFG
Guaranty fails to meet its obligation to the Company. CIFG NA regularly monitors
the financial condition of CIFG Guaranty and believes there is no material
unrecoverable reinsurance.

-16-


(page)


The effect of reinsurance on premiums written was as follows:

<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>

                                                                   December 31,
                                                    2006             2005             2004
Direct premium written                              $ 98,808          $  84,408      $   45,058
Assumed premium written                                2,857              9,848          10,088
Ceded premium written                                (84,163)           (83,958)        (48,747)
Net premiums written                                  17,502             10,298           6,399

Change in direct deferred premium revenue            (56,116)           (60,054)        (29,625)
Change in assumed deferred premium
 revenue                                               3,350             (2,184)         (3,181)
Change in ceded deferred premiums revenue             41,841             56,692          30,218
Net premiums earned                                 $  6,577          $   4,752      $    3,811

</TABLE>

Net earned premium in 2006, 2005 and 2004 does not include any refunded earned
amounts.

Ceding commissions on reinsurance ceded to CIFG Guaranty was $25.2, $25.2, and
$14.6 million during 2006, 2005 and 2004, respectively.

7. Income Taxes

The current provision for federal income taxes was $82 thousand, $148 thousand,
and nil for the years ended December 31, 2006, 2005 and 2004. During 2006, an
estimated tax payment of $294 thousand was made for alternative minimum taxes
("AMT").

AMT paid in current and prior years of $354 thousand are available as AMT
credits to be carried-forward and utilized in the event that regular tax exceeds
AMT tax in the future.

The Company's total tax provision differs from the amount that would be obtained
by applying the tax rate to pre-tax book income due to the impact of disallowed
expenses, tax exempt interest and the establishment of a valuation allowance.

-17-


(page)


The tax effects of temporary differences that give rise to deferred tax assets
and liabilities as of December 31, 2006 and 2005 are presented below:

<TABLE>
<CAPTION>
<S>     <C>    <C>

                                                                        As of December 31,
                                                                        2006            2005

Deferred tax assets:
Net operating loss carry-forward                                      $     599      $    2,002
Deferred premium revenue                                                    141             203
Deferred ceding commission, net                                           6,431           4,644
Unrealized loss on investments                                              687             512
Other                                                                       669             529
Less: valuation allowance                                                (7,604)         (7,220)
Total deferred tax assets                                                   923             670

Deferred tax liabilities:
Accretion of discount                                                       169             119
License amortization                                                        745             551
Other                                                                         9             ---
Total deferred tax liabilities                                              923             670
Net deferred tax assets                                               $     ---      $      ---

</TABLE>

In 2006, the Company used approximately $4.1 million in net operating loss
carry-forwards generated in prior years to offset taxable income in the current
year. At December 31, 2006, the Company had net operating loss carry-forwards
available to offset future taxable income of $1.7 million which will expire in
2024.

The Company recognizes deferred tax assets and liabilities for the expected
future tax consequences of events that have been included in the financial
statements or tax returns. Deferred tax assets and liabilities are determined
based on the difference between the financial statement and tax bases of assets
and liabilities using enacted tax rates in effect for the year in which the
differences are expected to reverse. The effect on tax assets and liabilities
for a change in tax rates is recognized in income in the period that includes
the enactment date.

The Company has yet to establish an earnings history. As a result, management
has established a valuation allowance to offset net deferred tax assets.

8. Dividend Restrictions

Under New York State insurance law, CIFG NA may pay a dividend only from earned
surplus subject to the maintenance of a minimum capital requirement. Any
dividends declared or paid may not exceed, together with all other dividends
declared or distributed by CIFG NA during the next preceding twelve months, the
lesser of (i) 10% of its shareholders surplus shown on its last filed statement,
or (ii) one hundred percent of adjusted net investment income (as defined under
New York Insurance Law), for such 12-month period without prior approval of the
Superintendent of the NYSID. The Company has not declared or paid any dividends
since its inception given that it has no earned surplus and is therefore
ineligible to pay a dividend.

-18-


(page)


9. Statutory Accounting Practices

U.S. GAAP differs in certain significant respects from accounting practices
prescribed or permitted by the NYSID. In 2006, the NYSID performed a routine
triennial examination of the Company; an examination report has not been issued
yet. The Company does not anticipate any material adjustments to its statutory
capital and surplus as a result of this examination.

The following summarizes the significant differences between the statutory
annual statement as filed and U.S. GAAP.

<TABLE>
<CAPTION>
<S>     <C>    <C>

                                                                        As of December 31,
                                                                        2006            2005
U.S. GAAP Shareholders Equity                                         $ 121,897      $  122,092
Statutory Adjustments:
Premium revenue recognition                                              (3,991)         (2,521)
Intangible asset                                                         (8,331)         (8,373)
Loss and loss adjustment expense reserves, net                              860             529
Contingency reserves, net                                               (10,597)         (6,316)
Deferred income taxes                                                    14,123          11,824
Unrealized losses, net                                                    1,838           1,463
Fair value of derivatives, net                                               39              53
Deferred Ceding commission income                                           891           1,712
Other liabilities                                                            59              22
Non admitted assets                                                     (12,968)        (11,910)
Statutory capital and surplus                                         $ 103,820      $  108,575

</TABLE>

The principal differences result from the following statutory accounting
practices:

     *    Upfront premiums are recognized as earned when related principal and
          interest have expired while under GAAP, premiums are recognized as
          earned over the expected coverage period;

     *    Liabilities for deferred premium revenues are shown net of amounts
          ceded under reinsurance contracts while under GAAP, they are recorded
          at their gross amounts;

     *    Acquisition costs are charged to operations as incurred. Under GAAP,
          certain costs are deferred and amortized as the related premiums are
          earned;

     *    Intangible assets were charged directly to surplus as a result of the
          statutory mergers while under GAAP the Company established an
          intangible asset representing the value of state licenses, which is
          subject to impairment tests;

     *    A contingency reserve is computed on the basis of statutory
          requirements, and reserves for case basis losses and LAE are
          established, at present value, for specific insured issues that are
          identified as currently or likely to be in default. Under GAAP, case
          basis loss reserves are established at present value based on CIFG NAs
          reasonable estimate of the identified losses and LAE, plus estimates
          for reserves for the portfolio of active credits on the insured
          obligations written;

-19-


(page)


     *    If applicable, a provision is made for ceded unearned premiums and
          losses recoverable in excess of funds held plus other qualifying
          collateral, on business reinsured with companies not qualified or
          licensed in the State of New York through a direct charge to surplus,
          while under GAAP there is no such provision;

     *    Fixed income securities are carried at amortized cost; under GAAP
          these securities are designated as available-for-sale and carried at
          fair value, with the related unrealized gains or losses recognized as
          a separate component of shareholders equity net of applicable deferred
          federal income tax;

     *    Deferred tax assets in excess of certain defined limitations are
          excluded from the balance sheet and charged to surplus as a
          non-admitted asset. Under GAAP, deferred federal income taxes reflect
          the net tax effect of temporary differences between the carrying
          amount of GAAP basis assets and liabilities and the amounts used for
          federal income tax purposes. The change in net deferred taxes,
          excluding the amount related to unrealized gains and losses, is a
          component of net income;

     *    Financial guarantees are accounted for as insurance contracts, while
          under GAAP, certain financial guarantees that do not qualify as
          insurance contracts under FAS 133 are recorded at fair value;

     *    Ceding commission income is recognized in income when earned and can
          offset acquisition costs, but a liability is established for any
          amount of ceding commissions in excess of acquisition expenses. Under
          GAAP, ceding commission income is deferred and amortized as the
          related ceded premiums are expensed.

     *    Certain assets classified as non-admitted are charged directly to
          surplus but are reflected as assets under GAAP.

The NYSID has recently undertaken a review of the industry practice to record
contingency reserves on a net basis specifically in the case where an
unauthorized reinsurer has provided appropriate collateral to secure the ceded
contingency reserve. Currently, the NYSID has not concluded their review nor
have they issued any new statutory guidance on this subject. As a result, the
Company will maintain its current treatment of the ceded contingency reserve
until the NYSID has concluded their review and issued final statutory guidance,
which is expected to be applied prospectively, if different than the Company's
current statutory accounting treatment. As of December 31, 2006 the Company has
recorded a gross contingency reserve of $76.3 million which is offset by a ceded
contingency reserve of $65.7 million in its statutory financial statements.

CIFG NA's statutory financial statements are prepared in conformity with
accounting practices prescribed or permitted by the NYSID. Prescribed statutory
accounting principles include state laws, regulations and general administrative
rules, as well as a variety of the National Association of Insurance
Commissioners (NAIC) publications. The NAIC Statements of Statutory Accounting
Principles (SSAP) have been adopted as a component of prescribed or permitted
practices by the State of New York. The State of New York has adopted certain
prescribed practices which vary from those found in SSAP. These differences have
no impact on the net income and the determination of statutory surplus.
Statutory capital and surplus was $103.8

-20-


(page)


million and $108.6 million at December 31, 2006 and 2005, respectively, which
meets New York State minimum capital requirements. Qualified statutory capital
(statutory capital and surplus plus contingency reserve) was $114.4 and $114.9
million at December 31, 2006 and 2005, respectively. Statutory net loss for CIFG
NA was $(2.1), $(2.5) and $(5.2) million for the periods ending December 31,
2006, 2005 and 2004, respectively.

10. Net Insurance in Force

The financial guaranty contracts issued by CIFG NA guaranty the scheduled
payments of principal and interest on municipal and structured obligations. The
net exposure retained on any risk is subject to formalized underwriting
guidelines.

As of December 31, 2006, insurance in force, net of cessions, had a range of
legal maturities of 1-74 years. However, the expected life of these transactions
may vary substantially from the legal final maturities, and are influenced by
actual performance, market conditions and business objectives of the issuers.
The expected maturities of these policies are between 1-46 years which are
diversified among 1,430 outstanding policies. The weighted-average (based on
par) expected life of the guaranteed portfolio is 10.57 years.

-21-


(page)


The distribution of gross and net par in force by bond type is presented in the
following table:

<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>    <C>    <C>    <C>

Insurance Inforce                                      2006                                2005
                                         Gross                 Net              Gross                   Net

Global Public Finance and
Infrastructure
State GO And Appropriation              $ 5,606,167            $ 760,469       $ 3,716,422               $ 572,445
City And County GO                        3,977,717              541,329         1,186,237                 168,286
Utility Systems                           1,123,985              274,201           680,533                  83,185
Airports                                  1,471,021              253,390         1,406,341                 188,661
Health Care                               1,491,191              246,967           880,507                 130,631
State Tax Backed                          1,518,447              216,326         1,183,155                 155,092
Higher Education                          1,309,316              194,245           553,572                  80,973
Sovereign/Sub Sovereign                   1,374,633              182,494         1,232,554                 183,187
Public Power                                739,047              171,468           348,752                  62,857
Special Revenue                             725,562              140,056           244,910                  48,860
Toll Roads                                  849,642              106,306           822,846                  88,051
Local Tax Backed                            387,624               78,745           228,134                  24,491
Municipal Housing                           748,649               74,865           177,794                  17,779
Transportation                              527,218               52,722           489,794                  76,495
Investor-Owned Utilities                    230,654               23,065           314,947                  48,979
Project Finance                              87,244                8,724            77,852                   7,785
Total                                    22,168,117            3,325,372        13,544,350               1,937,757

Global Structured Finance
CDO High Yield                           10,900,485            1,096,113         4,579,475                 596,952
CDO Asset Backed                          7,373,885              863,411         4,373,598                 472,023
CDO Investment Grade                      4,746,055              616,197         3,304,315                 471,898
Home Equity                               2,882,048              288,205         2,510,373                 251,037
Commercial Mortgage Backed                2,426,124              242,612         1,061,265                 106,126
Student Loans                             1,672,960              167,296           631,674                  63,167
Lease Assets                                804,747              124,039         1,061,992                 190,425
Commercial Asset Backed                     656,164               65,616           466,517                  46,652
Residential Mortgage Backed                 570,573               57,057           778,698                  77,870
Other                                       179,407               17,941           288,658                  44,649
Credit Cards                                101,000               10,100           101,000                  10,100
Auto Loans                                   71,822                7,182           307,822                  37,500
Total                                    32,385,270            3,555,769        19,465,387               2,368,399
Grand Total                            $ 54,553,387          $ 6,881,141      $ 33,009,737             $ 4,306,156

</TABLE>

The Company limits its exposure to losses under its financial guarantees through
a formal credit approval process and by maintaining a surveillance function
which monitors insured transactions. Additionally, the Company mitigates credit
risk by underwriting investment grade transactions and maintaining collateral
quality requirements on asset-backed obligations, as well as through
reinsurance. As of December 31, 2006, there were no guaranteed transactions
rated below investment grade.

Included in the table above is $0.2 billion of direct net par exposure related
to securitization transactions supported by sub-prime mortgage assets. As of
December 31, 2006, all of this exposure has underlying ratings of triple-A by at
least two rating agencies prior to the benefit of financial guaranty provided by
the Company, except for $5.9 million which was issued in 2004 and is rated in
the A-minus rating category.

In addition, CIFG NA has indirect net exposure to sub-prime mortgage assets as a
result of guarantees of $0.8 billion of senior tranches of multi-sector
collateralized debt obligations that

-22-


(page)


include varying proportions of sub-prime mortgage assets in their collateral
pools. As of December 31, 2006, all of this exposure has underlying ratings of
triple-A by at least two rating agencies prior to the benefit of the financial
guaranty provided by the Company.

Gross par written includes $250 million, $505 million and $2.3 billion of
assumed premium business for each of the three years ended December 31, 2006,
2005 and 2004, respectively.

Gross par outstanding includes $3.9 billion and $5.0 billion of assumed
business, at December 31, 2006 and December 31, 2005, respectively.

Gross and net par outstanding includes financial guaranty contracts treated as
derivatives under FAS 133.

The distribution of gross and net par in force by geographical location is
presented in the following table:

<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>    <C>    <C>    <C>


                                           2006              % of                        2005                  % of
                                Gross                   Net        Net           Gross                   Net          Net
United States:
Florida                      $   1,538,190          $    683,957     9.9%     $      681,672         $      68,167       1.6%
New York                         3,870,534               613,447     8.9%          3,264,855               556,215      12.9%
Puerto Rico                      1,368,371               236,955     3.4%          1,168,357               217,496       5.1%
Illinois                         1,795,392               179,539     2.6%          1,325,550               132,555       3.1%
California                       1,054,063               165,509     2.4%            901,917               151,317       3.5%
New Jersey                       1,249,406               152,441     2.2%            835,701               111,070       2.6%
Texas                              880,098               136,037     2.0%            544,034               102,431       2.4%
Pennsylvania                     1,020,536               102,054     1.5%            165,159                16,516       0.4%
Louisiana                          961,475                96,148     1.4%              4,800                   480       0.0%
Massachusetts                      297,565                78,507     1.1%            100,587                58,809       1.4%
Other states                     5,940,820               616,582     9.0%          2,599,691               282,468       6.5%
US diversified*                 25,316,946             2,822,686    41.0%         13,950,086             1,790,619      41.5%
Total United States             45,293,396             5,883,862    85.4%         25,542,409             3,488,143      81.0%

Non United States:
Italy                            1,155,563               115,556     1.7%          1,014,215               101,422       2.4%
Canada                             228,594                67,890     1.0%            221,813                67,212       1.6%
United Kingdom                     424,617                42,462     0.6%            427,407                42,741       1.0%
Greece                             328,588                32,859     0.5%            295,988                29,599       0.7%
Brazil                             316,860                31,686     0.5%            316,860                31,686       0.7%
France                             263,006                26,301     0.4%            241,307                24,131       0.6%
Germany                            187,763                18,776     0.3%            176,911                17,691       0.4%
Turkey                             150,000                15,000     0.2%            150,000                15,000       0.3%
Switzerland                         81,823                 8,182     0.1%             55,131                 5,513       0.1%
Australia                           21,549                 2,155     0.0%             19,814                 1,981       0.0%
Spain                                3,470                   347     0.0%              3,126                   313       0.0%
Europe diversified**             2,195,950               219,595     3.2%          1,555,414               155,541       3.6%
Global                           3,902,208               416,470     6.1%          2,989,342               325,183       7.6%
Total Non United States          9,259,991               997,279    14.6%          7,467,328               818,013      19.0%

Grand Total                   $ 54,553,387           $ 6,881,141   100.0%       $ 33,009,737           $ 4,306,156       100%

<FN>
* Includes financial guaranties with obligations in multiple states.

** Includes financial guaranties with obligations in multiple countries.
</FN>
</TABLE>

-23-


(page)


11. Loss and Loss Adjustment Reserves

The Company's reserve for losses and loss adjustment expenses consists of active
credit reserves only. There were no case basis reserves recorded during 2006 and
2005. Activity in the losses and loss adjustment reserves, gross of reinsurance,
are summarized as follows:

<TABLE>
<CAPTION>
<S>     <C>    <C>

                                                                  2006                  2005
Gross active credit reserves:
Balance, beginning of period                                         $  3,306              $  1,677
Incurred losses and loss adjustment expense reserves                    2,224                 1,629
Balance, end of period                                               $  5,530              $  3,306

</TABLE>

Gross incurred loss and loss adjustment expenses are presented in the income
statement net of ceded amounts of $1,893, $1,393, and $1,044 for the years ended
December 31, 2006, 2005 and 2004, respectively.

12. Fair Value of Financial Instruments

The following fair value amounts were determined by using independent market
information when available, and internal valuation methodologies when market
quotes were not available. In cases where specific market quotes were
unavailable, interpreting market data and estimating market values requires
considerable judgment by management. Accordingly, the estimates presented are
not necessarily indicative of the amount CIFG NA could realize in a current
market exchange. The use of different market assumptions and/or estimation
methodologies may have a material effect on the estimated fair value amounts.

The following methods and assumptions were used to estimate the fair value of
each class of financial instruments for which it is practicable to estimate that
value:

Fixed income securities: The fair values of fixed income securities are based
primarily on quoted market prices.

Short-Term Investments and Cash: The carrying value of these items approximate
fair value.

Investment Income Due and Accrued: The fair value of investment income due and
accrued is assumed to approximate carrying value.

Deferred Premium Revenue: The fair value of the deferred premium revenue is
based upon the estimated cost to reinsure those exposures at current market
rates, which amount consists of the current deferred premium revenue, less an
estimated ceding commission thereon.

Certain other financial guaranty insurance contracts have been written on an
installment premium basis, where the future premiums to be received by the
Company are determined based on the outstanding exposure at the time these
premiums are due. The fair value of the Company's future premium revenue under
its installment contracts is measured using the present value of estimated
future installment premiums, less an estimated ceding commission thereon,
discounted at 7%. The estimate of the amounts and timing of the future
installment premiums is based on contractual premium rates, debt service
schedules and expected run-off

-24-


(page)


scenarios. This measure is used as an estimate of the cost to reinsure the
Company's exposures under these policies.

The carrying amount and estimated fair value of financial instruments are
presented below:

<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>    <C>

                                                                    December 31,
                                                    2006                                  2005
                                        Carrying         Estimated fair    Carrying Amount       Estimated fair
                                         Amount               value                                   value

Financial Assets:
Fixed income securities                   $ 134,403            $ 134,403         $ 132,924              $132,924
Short-term investments                       39,588               39,588            24,652                24,652
Cash                                          1,068                1,068             3,388                 3,388
Investment income due and accrued             1,748                1,748             1,497                 1,497
Derivative assets                                10                   10                 4                     4

Financial Liabilities:

Deferred premium revenue:
  Gross                                     218,714              153,100           165,846               116,092
  Net of reinsurance                         34,953               24,467            24,019                16,812

Derivative liabilities                           49                   49                57                    57

Off-balance sheet instruments:

Installment premium receivable
  Gross                                         ---              124,159               ---                82,973
  Net of reinsurance                            ---               13,063               ---                 9,581

</TABLE>

13. Credit Derivatives

Certain financial guaranty contracts meet the definition of a derivative under
FAS 133 as amended by FAS 149. All of these direct contracts provide credit
protection to investors who have entered into credit derivative transactions
with New Generation Funding Trusts. The Company records these contracts at
Managements estimate of fair value based on valuation models. The models contain
an expected loss assumption. These contracts are considered by the Company to
be, in substance, financial guaranty contracts and the Company generally intends
to hold them to maturity. The level of fair value adjustments is dependent upon
a number of factors including changes in credit spreads and other market
factors.

As of December 31, 2006 and 2005, the distribution of par exposure by form of
credit enhancement is set forth in the following table on a gross (direct and
assumed) basis and net of reinsurance:

<TABLE>
<CAPTION>
<S>     <C>    <C>    <C>    <C>

                                                 December 31,
                                             2006                                     2005
                                 Gross                   Net               Gross                    Net
Financial guarantees           $  27,200,799           $ 3,879,324        $ 17,605,496               $ 2,424,333
Credit Derivatives                27,352,588             3,001,817          15,404,241                 1,881,823
Total                          $  54,553,387           $ 6,881,141        $ 33,009,737               $ 4,306,156

</TABLE>

-25-


(page)


14. Variable Interest Entities

The Companys financial statements include the consolidation of New Generation
Funding Trusts (VIEs) as disclosed in Note 1. For each of the three years ended
December 31, 2006, 2005 and 2004 gross direct premium written by these VIEs was
approximately $27.1, $20.8, $10.5 million, respectively, and gross par
outstanding at December 31, 2006 and 2005 includes $27.1 and $15.2 billion,
respectively, underwritten through these VIEs.


-26-


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

            The significance percentage related to each entity or group of
            affiliated entities providing derivative instruments described in
            Item 1115 of Regulation AB is less than 10%.

  Item 1117 of Regulation AB, Legal Proceedings.

            Recent Events Relating to Fremont Investment & Loan

            Pursuant to a Form 12b-25 filed on March 2, 2007, Fremont General
            Corporation ("Fremont General"), the parent of Fremont Investment
            & Loan ("Fremont"), announced that it was delaying the filing of
            its Annual Report on Form 10-K for the fiscal year ended December
            31, 2006. Pursuant to a Form 8-K filed on March 16, 2007, Fremont
            General announced that it would not file its Annual Report on Form
            10-K for the fiscal year ended December 31, 2006 before its
            extended deadline of April 17, 2007.

            Fremont General also announced that, in light of the current
            operating environment for subprime mortgage lenders and recent
            legislative and regulatory events, Fremont intends to exit its
            subprime residential real estate lending business. Fremont General
            is engaged in discussions with various parties regarding the sale
            or other disposition of the residential loan origination platform
            and has engaged Credit Suisse Securities LLC in connection
            therewith; however, there can be no assurance that Fremont General
            or its affiliates will be able to enter into any transaction
            involving its residential loan origination platform.

            Additionally, on March 7, 2006, Fremont Investment & Loan, its
            parent, Fremont General Corporation and the company's wholly owned
            subsidiary, Fremont General Credit Corporation consented to the
            terms of a cease and desist order issued by the Federal Deposit
            Insurance Corporation without admitting to the allegations
            contained therein. The cease and desist order requires, among other
            things, Fremont to cease and desist from the following:

            (1) Operating with management whose policies and practices are
            detrimental to Fremont; (2) operating Fremont without effective
            risk management policies and procedures in place in relation to
            Fremont's brokered subprime mortgage lending and commercial real
            estate construction lending businesses; (3) operating with
            inadequate underwriting criteria and excessive risk in relation to
            the kind and quality of assets held by Fremont; (4) operating
            without an accurate, rigorous and properly documented methodology
            concerning its allowance for loan and lease losses; (5) operating
            with a large volume of poor quality loans; (6) engaging in
            unsatisfactory lending practices; (7) operating without an adequate
            strategic plan in relation to the volatility of Fremont's business
            lines and the kind and quality of assets held by Fremont; (8)
            operating with inadequate capital in relation to the kind and
            quality of assets held by Fremont; (9) operating in such a manner
            as to produce low and unsustainable earnings; (10) operating with
            inadequate provisions for liquidity in relation to the volatility
            of Fremont's business lines and the kind and quality of assets held
            by Fremont; (11) marketing and extending adjustable-rate mortgage
            products to subprime borrowers in an unsafe and unsound manner that
            greatly increases the risk that borrowers will default on the loans
            or otherwise cause losses to Fremont, including (a) adjustable-rate
            mortgage products that qualify borrowers for loans with low initial
            payments based on an introductory rate that will expire after an
            initial period, without adequate analysis of the borrower's ability
            to repay at the fully indexed rate, (b) adjustable-rate mortgage
            products containing features likely to require frequent refinancing
            to maintain affordable monthly payment or to avoid foreclosure, and
            (c)loans or loan arrangements with loan-to-value ratios approaching
            or exceeding 100 percent of the value of the collateral; (12)making
            mortgage loans without adequately considering the borrower's
            ability to repay the mortgage according to its terms; (13)operating
            in violation of Section 23B of the Federal Reserve Act, in that
            Fremont engaged in transactions with its affiliates on terms and
            under circumstances that in good faith would not be offered to, or
            would not apply to, nonaffiliated companies; and (14) operating
            inconsistently with the Federal Deposit Insurance Corporation's
            Interagency Advisory on Mortgage Banking and Interagency Expanded
            Guidance for Subprime Lending Programs. The cease and desist order
            also requires Fremont to take a number of steps, including (1)
            having and retaining qualified management; (2) limiting Fremont
            General's and Fremont General Credit Corporation's representation
            on Fremont's board of directors and requiring that independent
            directors comprise a majority of Fremont's board of directors; (3)
            revising and implementing written lending policies to provide
            effective guidance and control over Fremont's residential lending
            function; (4)revising and implementing policies governing
            communications with consumers to ensure that borrowers are provided
            with sufficient information; (5) implementing control systems to
            monitor whether Fremont's actual practices are consistent with its
            policies and procedures; (6) implementing a third-party mortgage
            broker monitoring program and plan; (7) developing a five-year
            strategic plan, including policies and procedures for diversifying
            Fremont's loan portfolio; (8) implementing a policy covering
            Fremont's capital analysis on subprime residential loans; (9)
            performing quarterly valuations and cash flow analyses on Fremont's
            residual interests and mortgage servicing rights from its
            residential lending operation, and obtaining annual independent
            valuations of such interests and rights; (10) limiting extensions
            of credit to certain commercial real estate borrowers; (11)
            implementing a written lending and collection policy to provide
            effective guidance and control over Fremont's commercial real
            estate lending function, including a planned material reduction in
            the volume of funded and unfunded nonrecourse lending and loans for
            condominium conversion and construction as a percentage of Tier I
            capital; (12) submitting a capital plan that will include a Tier I
            capital ratio of not less than 14% of Fremont's total assets; (13)
            implementing a written profit plan; (14) limiting the payment of
            cash dividends by Fremont without the prior written consent of the
            Federal Deposit Insurance Corporation and the Commissioner of the
            California Department of Financial Institutions; (15) implementing
            a written liquidity and funds management policy to provide
            effective guidance and control over Fremont's liquidity position
            and needs; (16) prohibiting the receipt, renewal or rollover of
            brokered deposit accounts without obtaining a Brokered Deposit
            Waiver approved by the Federal Deposit Insurance Corporation; (17)
            reducing adversely classified assets; and (18) implementing a
            comprehensive plan for the methodology for determining the adequacy
            of the allowance for loan and lease losses.

            Further, Fremont General is analyzing, in connection with the
            preparation of Fremont General's consolidated financial statements
            as of and for the period ended December 31, 2006, the Federal
            Deposit Insurance Corporation's criticism with respect to Fremont
            General's methodology for determining the carrying value of Fremont
            General's residential real estate loans held for sale.

            In addition, on March 5, 2007, Moody's Investors Service, Inc.
            downgraded Fremont's residential primary servicer rating for
            subprime mortgage loans to "SQ4+" from "SQ3+" and placed such
            rating on review for possible further downgrade and on March 6,
            2007, Fitch Ratings,  Inc. downgraded Fremont's residential
            primary servicer rating for subprime mortgage loans to "RPS4" from
            "RPS3+" and placed such rating on "Watch Negative", indicating that
            further downgrades of such rating are possible.

            Ownit Mortgage Solutions, Inc.

            Ownit Mortgage Solutions, Inc. ("Ownit") is a debtor and
            debtor-in-possession under Chapter 11 of the Bankruptcy Code in
            Case No. 06-12579. Ownit's Schedules of Assets and Liabilities and
            Statement of Financial Affairs, which are on file with the
            Bankruptcy Court, contain lists of certain known claims and
            potential claims against Ownit as of December 28, 20006, the date
            that Ownit commenced its Chapter 11 case.


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

            No applicable updates.


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

            This report on Form 10-K omits the Item 1122 attestation report
            (the "Attestation Report") required by Regulation AB for Fremont
            Investment & Loan ("Fremont"), an interim servicer under the
            pooling and servicing agreement.Fremont's obligations as an interim
            servicer expired on April 1, 2006 upon the transfer of servicing in
            accordance with the terms of the transaction documents.

            Fremont has informed the Registrant that the original accounting
            firm that was scheduled to deliver the Attestation Report by March
            31, 2007 informed Fremont that it was resigning from its engagement
            during the last week of March. The Registrant requested from
            Fremont a letter from its original accounting firm stating that an
            opinion cannot be expressed regarding Fremont's Assessment of
            Compliance, but was informed by Fremont that the accounting firm
            would not deliver such an opinion. The Registrant has been informed
            that Fremont is in the process of engaging a new accounting firm to
            prepare its Attestation Report, but will not have the Attestation
            Report available on or prior to the extended Form 10-K filing
            deadline. The Registrant will file the Attestation Report by Form
            10-K/A as soon as it is received from Fremont. Pending receipt by
            the Registrant of the Attestation Report from Fremont's new
            accounting firm, there are no further actions that the Registrant
            could take in order to be in a position to file a compliant
            Attestation Report by the extended Form 10-K filing deadline, and
            accordingly the Registrant is unable to file a compliant
            Attestation Report by the extended Form 10-K filing deadline
            without unreasonable effort or expense.


            Fremont is not an affiliate of the Registrant.


            The 1122 statements for First American Real Estate Solutions of
            Texas, L.P. (as Sub-Contractor for Ocwen Loan Servicing, LLC) has
            disclosed the following material instance of noncompliance with
            the servicing criteria set forth in Item 1122(d)(2)(vii)(B) of
            Regulation AB applicable to the Company during year ended
            December 31, 2006. Account reconciliations for all asset-backed
            securities related bank accounts were not prepared within 30
            calendar days after the bank statement cutoff date, or such other
            number of days specified in the transaction agreements as required
            by Item 1122(d)(2)(vii)(B) of Regulation AB.

            The 1122 statements for Wells Fargo Bank, National Association
            (Corporate Trust Services) has disclosed material noncompliance with
            criterion 1122(d)(3)(i), as applicable to the Company during the
            twelve months ended December 31, 2006. Certain monthly investor or
            remittance reports included errors in the calculation and/or the
            reporting of delinquencies for the pool assets.

            The 1122 statements for Wells Fargo Bank, N.A. (servicer) has
            disclosed the following instances of material noncompliance with
            certain servicing criteria applicable to the Company during the year
            ended December 31, 2006:

            1. 1122(d)(3)(i) - Delinquency Reporting - The Company provided
               incomplete data to some third parties who use such data to
               calculate delinquency ratios and determine the status of loans
               with respect to bankruptcy, foreclosure or real estate owned.
               Instead of the actual due date being provided for use in
               calculating delinquencies, the date of the first payment due to
               the security was provided.

            2. 1122(d)(4)(vii) - Notification of Intent to Foreclose - The
               Company, as required by certain servicing agreements, did not
               provide investors with prior notification of intent to foreclose.

            See Item 15.

  Item 1123 of Regulation AB, Servicer Compliance Statement.

            See Item 15.




                                PART IV



  Item 15. Exhibits, Financial Statement Schedules.

   (a) Exhibits

    (4)  Pooling and Servicing  Agreement, dated as of February 1, 2006, among
         ACE Securities  Corp., as depositor, Ocwen Loan Servicing, LLC, as a
         servicer, Wells Fargo Bank, N.A., as a servicer, Wells Fargo Bank,
         N.A., master servicer and securities administrator and HSBC Bank USA,
         National  Association,  as trustee (incorporated herein by reference
         from Exhibit 4.1 of the Current Report on Form 8-K of the registrant,
         as filed with the Commission).

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

    (33) Reports on assessment of compliance with servicing criteria for
         asset-backed securities.



      <TABLE>

      
         <c>

      a) Assurant Inc. as Sub-Contractor for Ocwen Loan Servicing, LLC, as Sub-Contractor <F1>
      b) Deutsche Bank National Trust Company, as Custodian <F1>
      c) First American Real Estate Solutions of Texas, L.P. as Sub-Contractor for Ocwen Loan Servicing, LLC, as Sub-Contractor <F1>
      d) Fremont Investment & Loan, as Servicer <F1>
      e) LandAmerica Tax and Flood Services as Sub-Contractor for Fremont Investment & Loan, as Sub-Contractor <F1>
      f) Ocwen Loan Servicing, LLC, as Servicer <F1>
      g) Regulus Group LLC as Sub-Contractor for Ocwen Loan Servicing, LLC, as Sub-Contractor <F1>
      h) Regulus Group LLC as Sub-Contractor for Wells Fargo Bank, N.A., as Sub-Contractor <F1>
      i) Wells Fargo Bank, N.A., as Servicer <F1>
      j) Wells Fargo Bank, N.A., as Master Servicer <F1>
      k) Wells Fargo Bank, N.A., as Securities Administrator <F1>
      l) Wells Fargo Bank, N.A., as Paying Agent <F1>
      m) Wells Fargo Bank, N.A., as Custodian <F1>
      n) ZC Sterling Insurance Agency, Inc. as Sub-Contractor for Wells Fargo Bank, N.A., as Sub-Contractor <F1>

      </TABLE>

     (34) Attestation reports on assessment of compliance with servicing
          criteria for asset-backed securities.

      <TABLE>

      
        <c>

      a) Assurant Inc. as Sub-Contractor for Ocwen Loan Servicing, LLC, as Sub-Contractor <F1>
      b) Deutsche Bank National Trust Company, as Custodian <F1>
      c) First American Real Estate Solutions of Texas, L.P. as Sub-Contractor for Ocwen Loan Servicing, LLC, as Sub-Contractor <F1>
      d) LandAmerica Tax and Flood Services as Sub-Contractor for Fremont Investment & Loan, as Sub-Contractor <F1>
      e) Ocwen Loan Servicing, LLC, as Servicer <F1>
      f) Regulus Group LLC as Sub-Contractor for Ocwen Loan Servicing, LLC, as Sub-Contractor <F1>
      g) Regulus Group LLC as Sub-Contractor for Wells Fargo Bank, N.A., as Sub-Contractor <F1>
      h) Wells Fargo Bank, N.A., as Servicer <F1>
      i) Wells Fargo Bank, N.A., as Master Servicer <F1>
      j) Wells Fargo Bank, N.A., as Securities Administrator <F1>
      k) Wells Fargo Bank, N.A., as Paying Agent <F1>
      l) Wells Fargo Bank, N.A., as Custodian <F1>
      m) ZC Sterling Insurance Agency, Inc. as Sub-Contractor for Wells Fargo Bank, N.A., as Sub-Contractor <F1>

      </TABLE>

     (35) Servicer compliance statement.

      <TABLE>

      
         <c>

      a) Fremont Investment & Loan, as Servicer <F1>
      b) Ocwen Loan Servicing, LLC, as Servicer <F1>
      c) Wells Fargo Bank, N.A., as Servicer <F1>
      d) Wells Fargo Bank, N.A., as Master Servicer <F1>
      e) Wells Fargo Bank, N.A., as Securities Administrator <F1>

      </TABLE>

   (b) Not applicable.

   (c) Omitted.


  <F1> Filed herewith.




                                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.



    ACE Securities Corp. Home Equity Loan Trust, Series 2006-HE1
    (Issuing Entity)


    /s/ Douglas K. Johnson
    Douglas K. Johnson, President

    Date: April 17, 2007


  Exhibit Index

  Exhibit No.

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

    (33) Reports on assessment of compliance with servicing criteria for
         asset-backed securities.



      <TABLE>

      
         <c>
      a) Assurant Inc. as Sub-Contractor for Ocwen Loan Servicing, LLC, as Sub-Contractor
      b) Deutsche Bank National Trust Company, as Custodian
      c) First American Real Estate Solutions of Texas, L.P. as Sub-Contractor for Ocwen Loan Servicing, LLC, as Sub-Contractor
      d) Fremont Investment & Loan, as Servicer
      e) LandAmerica Tax and Flood Services as Sub-Contractor for Fremont Investment & Loan, as Sub-Contractor
      f) Ocwen Loan Servicing, LLC, as Servicer
      g) Regulus Group LLC as Sub-Contractor for Ocwen Loan Servicing, LLC, as Sub-Contractor
      h) Regulus Group LLC as Sub-Contractor for Wells Fargo Bank, N.A., as Sub-Contractor
      i) Wells Fargo Bank, N.A., as Servicer
      j) Wells Fargo Bank, N.A., as Master Servicer
      k) Wells Fargo Bank, N.A., as Securities Administrator
      l) Wells Fargo Bank, N.A., as Paying Agent
      m) Wells Fargo Bank, N.A., as Custodian
      n) ZC Sterling Insurance Agency, Inc. as Sub-Contractor for Wells Fargo Bank, N.A., as Sub-Contractor

      </TABLE>

     (34) Attestation reports on assessment of compliance with servicing
          criteria for asset-backed securities.

      <TABLE>

      
        <c>
      a) Assurant Inc. as Sub-Contractor for Ocwen Loan Servicing, LLC, as Sub-Contractor
      b) Deutsche Bank National Trust Company, as Custodian
      c) First American Real Estate Solutions of Texas, L.P. as Sub-Contractor for Ocwen Loan Servicing, LLC, as Sub-Contractor
      d) LandAmerica Tax and Flood Services as Sub-Contractor for Fremont Investment & Loan, as Sub-Contractor
      e) Ocwen Loan Servicing, LLC, as Servicer
      f) Regulus Group LLC as Sub-Contractor for Ocwen Loan Servicing, LLC, as Sub-Contractor
      g) Regulus Group LLC as Sub-Contractor for Wells Fargo Bank, N.A., as Sub-Contractor
      h) Wells Fargo Bank, N.A., as Servicer
      i) Wells Fargo Bank, N.A., as Master Servicer
      j) Wells Fargo Bank, N.A., as Securities Administrator
      k) Wells Fargo Bank, N.A., as Paying Agent
      l) Wells Fargo Bank, N.A., as Custodian
      m) ZC Sterling Insurance Agency, Inc. as Sub-Contractor for Wells Fargo Bank, N.A., as Sub-Contractor

      </TABLE>

     (35) Servicer compliance statement.

      <TABLE>

      
         <c>

      a) Fremont Investment & Loan, as Servicer
      b) Ocwen Loan Servicing, LLC, as Servicer
      c) Wells Fargo Bank, N.A., as Servicer
      d) Wells Fargo Bank, N.A., as Master Servicer
      e) Wells Fargo Bank, N.A., as Securities Administrator

      </TABLE>

  EX-31 Rule 13a-14(d)/15d-14(d) Certifications

  I, Douglas K. Johnson, certify that:

  1. I have reviewed this report on Form 10-K and all reports on Form 10-D
     required to be filed in respect of the period covered by this report
     on Form 10-K of ACE Securities Corp. Home Equity Loan Trust, Series
     2006-HE1 (the "Exchange Act periodic reports");

  2. Based on my knowledge, the Exchange Act periodic reports, taken as a
     whole, do not contain any untrue statement of a material fact or omit
     to state a material fact necessary to make the statements made, in
     light of the circumstances under which such statements were made, not
     misleading with respect to the period covered by this report;

  3. Based on my knowledge, all of the distribution, servicing and other
     information required to be provided under Form 10-D for the period
     covered by this report is included in the Exchange Act periodic
     reports;

  4. I am responsible for reviewing the activities performed by the
     servicers and based on my knowledge and the compliance reviews
     conducted in preparing the servicer compliance statements required in
     this report under Item 1123 of Regulation AB, and except as disclosed
     in the Exchange Act periodic reports, the servicers have fulfilled
     their obligations under the servicing agreements; and

  5. All of the reports on assessment of compliance with servicing
     criteria for asset-backed securities and their related attestation
     reports on assessment of compliance with servicing criteria for
     asset-backed securities required to be included in this report in
     accordance with Item 1122 of Regulation AB and Exchange Act Rules
     13a-18 and 15d-18 have been included as an exhibit to this report,
     except as otherwise disclosed in this report. Any material instances
     of noncompliance described in such reports have been disclosed in
     this report on Form 10-K.

     In giving the certifications above, I have reasonably relied on
     information provided to me by the following unaffiliated parties:
     Fremont Investment & Loan as Servicer, Greenpoint Mortgage Funding, Inc.
     as Servicer, New Century Mortgage Corporation as Servicer, Ocwen Loan
     Servicing, LLC as Servicer and Wells Fargo Bank, N.A. as Servicer, Master
     Servicer and Securities Administrator.

     Dated: April 17, 2007

     /s/ Douglas K. Johnson
     Signature

     President
     Title



EX-33 (a)
REPORT ON ASSESSMENT OF COMPLIANCE WITH
SECTION 1122(d)(2)(vi) and SECTION 1122(d)(4)(xi)
of REGULATION AB SERVICING CRITERIA

American Security Insurance Company, Standard Guaranty Insurance Company and
Safeco Financial Institution Solutions, Inc. (affiliates of Assurant Inc.,
collectively 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 1122(d)(2)(vi), Section 1122(d)(4)(xi) and Section 1122(d)(4)(xii) of
Title 17, Section 229.1122(d) of the Code of Federal Regulations, which the
Asserting Party has concluded are applicable to the insurance escrow servicing
activities it performs with respect to all mortgage loan-tracking transactions
covered by this report. The transactions covered by this report include all
mortgage loan-tracking transactions for which the Asserting Party served as a
Vendor on behalf of Servicers for such asset-backed securities transactions that
were registered after January 1, 2006 with the Securities and Exchange
Commission pursuant to the Securities Act of 1933 (the "Platform"). The scope of
the Asserting Party assertions excludes Section 1122(d)(4)(xii) of Title 17,
Section 229.1122(d) of the Code of Federal Regulations, which relates to
servicing activities that are performed by the Asserting Party with respect to
the Platform, but are not reported on herein.

The Asserting Party has assessed its compliance with Section 1122(d)(2)(vi) and
Section 1122(d)(4)(xi) ("the Applicable Servicing Criteria") for the Reporting
Period and has concluded that the Asserting Party has complied, in all material
respects, with the Applicable Servicing Criteria for the Reporting Period with
respect to the Platform taken as a whole. The Asserting Party used the criteria
set forth in paragraph (d) of Item 1122 of Regulation AB to assess the
compliance with the Applicable Servicing Criteria.

The Asserting Party has complied, in all material respects, with the Applicable
Servicing Criteria for the Reporting Period.

PricewaterhouseCoopers LLP, an independent registered public accounting firm,
has issued an attestation report on the assessment of compliance with the
Applicable Servicing Criteria as of and for the Reporting Period ending December
31, 2006 as set forth in this assertion.

American Security Insurance Company
Standard Guaranty Insurance Company
Safeco Financial Institution Solutions, Inc.

By: /s/ John Frobose
John Frobose
Senior Vice President

Date: February 23, 2007


(page)


ANNUAL CERTIFICATION

Re: Servicing-Related Activities subject to Regulation AB provided by American
Security Insurance Company, Standard Guaranty Insurance Company and/or Safeco
Financial Institution Solutions, Inc. (the "Vendor") to Ocwen Loan Servicing,
LLC (the "Servicer")

I, John Frobose, a Senior Vice President of the Vendor, as a provider of certain
servicing-related activities to the Servicer for the twelve month period ending
December 31, 2006 (the "Reporting Period"), hereby certify to the Servicer, and
its officers, directors and affiliates, and with the knowledge and intent that
they will rely upon this certification, that:

1. I have reviewed the report on the assessment of the Vendor's compliance with
the servicing criteria set forth in Item 1122(d) of Regulation AB that are
applicable to the Vendor for the Reporting Period (the "Applicable Servicing
Criteria"), provided in accordance with Rules 13a-18 and 15d-18 under the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Item
1122(d) of Regulation AB (the "Vendor Assessment"), and the registered public
accounting firm's attestation report provided in accordance with Rules 13a-18
and 15d-18 under the Exchange Act and Item 1122(b) of Regulation AB for the
Reporting Period (the "Attestation Report"), (collectively, the "Vendor
Information");

2. Based on my knowledge, the Vendor Information, taken as a whole, does not
contain any untrue statement of a material fact or omit to state a material fact
necessary to make the statements made, in light of the circumstances under which
such statements were made, not misleading;

3. Based on my knowledge, all of the Vendor Information required to be provided
to the Servicer by the Vendor pursuant to Regulation AB has been provided to the
Servicer;

4. I am responsible for reviewing the Applicable Servicing Criteria performed by
the Vendor, and except as disclosed in the Vendor Assessment or the Attestation
Report, the Vendor has fulfilled its obligations pursuant to Regulation AB in
all material respects; and

5. The Vendor Assessment and the Attestation Report required to be provided to
the Servicer have been provided to the Servicer. Any material instance of
non-compliance described in such Vendor Assessment or Attestation Report has
been disclosed to the Servicer. Any material instance of non-compliance with the
Applicable Servicing Criteria has been disclosed in such Vendor Assessment or
Attestation Report.

American Security Insurance Company
Standard Guaranty Insurance Company
Safeco Financial Institution Solutions, Inc.

By: /s/ John Frobose
Name:  John Frobose
Title: Senior Vice President





EX-33 (b)
Appendix I

MANAGEMENT'S ASSERTION OF COMPLIANCE

Management of the Trust & Securities Services department of Deutsche Bank
National Trust Company and Deutsche Bank Trust Company Americas (collectively
the "Company") is responsible for assessing compliance with the servicing
criteria set forth in Item 1122(d) of Regulation AB promulgated by the
Securities and Exchange Commission. Management has determined that the servicing
criteria are applicable in regard to the servicing platform for the period as
follows:

Platform: Publicly-issued (i.e., transaction-level reporting required
under the Securities Exchange Act of 1934, as amended) residential mortgage
-backed securities and other asset-backed securities issued on or after
January 1, 2006 for which the Company provides trustee, securities
administration or paying agent services, excluding any publicly issued
transactions sponsored or issued by any government sponsored entity (the
"Platform").

Applicable Servicing Criteria: All servicing criteria set forth in
Item 1122(d), except for the following criteria: 1122(d)(2)(iii),1122(d)(4)(iv),
1122(d)(4)(v), 1122(d)(4)(vi), 1122(d)(4)(vii), 1122(d)(4)(viii), 1122(d)(4)
(ix), 1122(d)(4)(x), 1122(d)(4)(xi), 1122(d)(4)(xii), 1122(d)(4)(xiii) and 1122
(d)(4)(xiv), which management has determined are not applicable to the
activities the Company performs with respect to the Platform (the "Applicable
Servicing Criteria").

Period: Twelve months ended December 31, 2006 (the "Period").

Management's interpretation of Applicable Servicing Criteria: The Company's
management has determined that servicing criteria 1122(d)(1)(iii) is applicable
only with respect to its continuing obligation to act as, or locate a,
successor servicer under the circumstances referred to in certain governing
documents. It is management's interpretation that Deutsche Bank Trust Company
America has no other active back-up servicing responsibilities in regards to
1122(d)(1)(iii) as of and for the Period.

Third parties classified as vendors: With respect to servicing criteria 1122(d)
(2)(i), 1122(d)(4)(i), and 1122(d)(4)(ii), management has engaged various
vendors to perform the activities required by these servicing criteria. The
Company's management has determined that these vendors are not considered a
"servicer" as defined in Item 1101(j) of Regulation AB, and the Company's
management has elected to take responsibility for assessing compliance with the
servicing criteria applicable to each 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, management has asserted that it has policies and
procedures in place to provide reasonable assurance that the vendor's
activities comply in all material respects with the servicing criteria
applicable to each vendor. The Company's management is solely responsible for
determining that it meets the SEC requirements to apply Interpretation 17.06
for the vendors and related criteria.

With respect to the Platform, the Company's management provides the following
assertion of compliance with respect to the Applicable Servicing Criteria:

1. The Company's management is responsible for assessing the Company's
compliance with the Applicable Servicing Criteria as of and for the Period.

2.The Company's management has assessed compliance with the Applicable
Servicing Criteria, including servicing criteria for which compliance is
determined based on Interpretation 17.06 as described above, as of and for the
Period. In performing this assessment, management used the criteria set forth
by the Securities and Exchange Commission in paragraph (d) of Item 1122 of
Regulation AB.

3. Based on such assessment, as of and for the Period, the Company has
complied, in all material respects, with the Applicable Servicing Criteria.

KPMG LLP, a registered public accounting firm, has issued an attestation report
with respect to the management's assertion of compliance with the Applicable
Servicing Criteria as of and for the Period.


(page)


Appendix I


DEUTSCHE BANK NATIONAL TRUST COMPANY

By: /s/ Gary R. Vaughan
Name: Gary R. Vaughan
Its: Managing Director

By: /s/ David Co
Name: David Co
Its: Director

By: /s/ Jose Sicilia
Name: Jose Sicilia
Its: Managing Director

By: /s/ Kevin Fischer
Name: Kevin Fischer
Its: Vice President

By: /s/ Robert Frier
Name: Robert Frier
Its: Director

DEUTSCHE BANK TRUST COMPANY AMERICAS

By: /s/ Kevin C. Weeks
Name: Kevin C. Weeks
Its: Managing Director

By: /s/ Jenna Kaufman
Name: Jenna Kaufman
Its: Director





EX-33 (c)
REPORT ON ASSESSMENT OF COMPLIANCE

First American Real Estate Solutions of Texas, L.P. (an indirect subsidiary of
The First American Corporation, and 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 Title 17, Sections 229.1122(d)(1)(iv), (d)(2)(v),
(d)(2)(vi), (d)(2)(vii), (d)(4)(xi), (d)(4)(xii) and (d)(4)(xiii) of the Code of
Federal Regulations (the "CFR") applicable to the Asserting Party (the
"Applicable Servicing Criteria"). The transactions covered by this report
include all loans for residential mortgage loan outsourcing customers for which
the Asserting Party served as the residential tax service provider (the
"Platform").

The Asserting Party has assessed its compliance with the Applicable Servicing
Criteria for the Reporting Period and has concluded that, except as set forth
hereinbelow, the Asserting Party has complied, in all material respects, with
the Applicable Servicing Criteria as of December 31, 2006, and for the Reporting
Period with respect to the Platform taken as a whole.

The Asserting Party assessed its compliance with the Applicable Servicing
Criteria for the Reporting Period and has identified a material instance of
noncompliance with the servicing criterion set forth in Section
229.1122(d)(2)(vii)(B) of the CFR with respect to the Platform. Specifically,
the Asserting Party did not prepare reconciliations for all asset-backed
securities related bank accounts within 30 calendar days after the bank
statement cut-off date or such number of days specified in the transaction
agreements.

PricewaterhouseCoopers LLP, an independent registered public accounting firm,
has issued an attestation report on the assessment of compliance with the
Applicable Servicing Criteria as of December 31, 2006, and for the Reporting
Period as set forth in this assertion.


FIRST AMERICAN REAL ESTATE SOLUTIONS OF TEXAS, L.P.
By: First American Real Estate Solutions LLC
General Partner

/s/ Lucy A. Przybyla
Lucy A. Przybyla
Senior Vice President
February 28, 2007





EX-33 (d)
(logo) FREMONT
INVESTMENT & LOAN

Management's Assertion on Compliance
with the Specified Minimum Servicing Standards Set Forth in the
Regulation AB

Report of Management

We, as members of management of Fremont Investment & Loan (the "Company"), are
responsible for complying with the minimum servicing standards identified in the
attached Exhibit A (the "specified minimum servicing standards") as set forth in
Regulation AB. We are also responsible for establishing and maintaining
effective internal control over compliance with these specified minimum
servicing standards. We have performed an evaluation of the Company's
compliance with the specified minimum servicing standards as of December 31,
2006 and for the year then ended. Based on this evaluation, we assert that
during the year ended December 31, 2006, the Company complied, in all material
respects, with the specified minimum servicing standards, except as described
below.

The specified minimum servicing standards require that payments received by
borrowers be remitted to the appropriate accounts maintained pursuant to the
transaction documents. During the year ended December 31, 2006, 709 payments
were not remitted to the appropriate collection accounts in a timely manner.
Upon review of the 709 payment not remitted to the appropriate collection
account and the total number of payments processed during 2006 of 1,377,091, the
709 payments represent .060% of the total number of loan payment received by FIL
during 2006. Therefore, management has concluded this error is immaterial and a
non-reportable occurrence.

In addition, the specified minimum servicing standards require the proper
adjustment of an adjustable rate mortgage loan pursuant to the terms of the
related mortgage note. During the year ended December 31, 2006, one rate
adjustment for a mortgage loan covered under the Servicemembers Civil Relief
Act, as amended, was suppressed and the rate was not reset to the correct
adjusted rate in a timely manner. Upon review of this exception, we noted that
for the year ended December 31, 2006, a total of only 46 mortgage loans were
subject to the Servicemembers Civil Relief Act, as amended, as compared to a
total number of mortgage loans serviced by Fremont of approximately 1.3 million
for the year ended December 31, 2006. Therefore, management has concluded this
error to be immaterial and a non-reportable occurrence. We therefore concluded
that the Company complied with the specified minimum servicing standards in all
material respects.

As of December 31, 2006 and for the year then ended, the Company had in effect a
fidelity bond in the amount of $30,000,000 and an errors and omissions policy in
the amount $10,000,000.


/s/ Kyle R. Walker
Kyle R. Walker
President and Chief Executive Officer

/s/ David S. Gordon
David S. Gordon
Senior Vice President, Loan Administration & Servicing

/s/ John Alkire
John Alkire
Senior Vice President, Loan Servicing

February 28, 2007

LEGAL * 2727 E. IMPERIAL HWY * BREA, CA 92821

Member FDIC * Serving our customers since 1937


(page)


(logo) FREMONT
INVESTMENT & LOAN


Certification Regarding Compliance with Applicable Servicing Criteria


1.      Fremont Investment & Loan (the "Servicer") is responsible for assessing
        compliance by it with the servicing criteria applicable to it under
        paragraph (d) of Item 1122 of Regulation AB as set forth in Exhibit A
        hereto in connection with asset-backed securities transactions involving
        first lien residential mortgage loans listed on Exhibit B hereto;

2.      The Servicer has engaged certain vendors (the "Vendors") to perform
        specific, limited or scripted activities as of and for the period ending
        December 31, 2006, and the Servicer elects to take responsibility for
        assessing compliance with the servicing criteria or portion of the
        servicing criteria applicable to such Vendors as set forth in Exhibit A
        hereto, except with respect to certain services done by LandAmerica, as
        covered in their Report on Assessment of Compliance attached hereto as
        Exhibit C;

3.      Except as set forth in paragraph 4 below, the Servicer used the criteria
        set forth in paragraph (d) of Item 1122 of Regulation AB to assess the
        compliance with the applicable servicing criteria;

4.      The criteria on Exhibit A hereto described as inapplicable to the
        Servicer based on the activities it performs with respect to
        asset-backed securities transactions involving first lien residential
        mortgage loans has not been certified pursuant to this certification;

5.      The Servicer has complied, in all material respects, with the applicable
        servicing criteria as of and for the period ending December 31, 2006;

6.      The Servicer has not identified and is not aware of any material
        instance of noncompliance by the Vendors with the applicable servicing
        criteria as of and for the period ending December 31, 2006;

7.      The Servicer has not identified any material deficiency in its policies
        and procedures to monitor the compliance by the Vendors with the
        applicable servicing criteria for the period ending December 31, 2006;
        and

8.      A registered public accounting firm has issued an attestation report on
        the Servicer's assessment of compliance with the applicable servicing
        criteria as of and for the period ending December 31, 2006, which
        attestation report is included on Exhibit D attached hereto.


February 28, 2007

Fremont Investment & Loan
By: /s/ John Alkire
John Alkire
Senior Vice President, Loan Servicing


LEGAL * 2727 E. IMPERIAL HWY * BREA, CA 92821

Member FDIC * Serving our customers since 1937


(page)


EXHIBIT A

SERVICING CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE

The assessment of compliance to be delivered by the Servicer shall address, at
a minimum, the criteria identified as below as "Applicable Servicing Criteria."

<Table>
<Caption>

             <c>

                                                                                                          APPLICABLE
                                                        SERVICING CRITERIA                             SERVICING CRITERIA
Reference                                                    Criteria

General Servicing Considerations

1122(d)(1)(i)      Policies and procedures are instituted to monitor any performance or other                  X
                   triggers and events of default in accordance with the transaction
                   agreements.

1122(d)(1)(ii)     If any material servicing activities are outsourced to third parties,                       X
                   policies and procedures are instituted to monitor the third party's
                   performance and compliance with such servicing activities.

1122(d)(1)(iii)    Any requirements in the transaction agreements to maintain a back-up                       N/A
                   servicer for the mortgage loans are maintained.

1122(d)(1)(iv)     A fidelity bond and errors and omissions policy is in effect on the party                   X
                   participating in the servicing function throughout the reporting period in
                   the amount of coverage required by and otherwise in accordance with the
                   terms of the transaction agreements.

Cash Collection and Administration

1122(d)(2)(i)      Payments on mortgage loans are deposited into the appropriate custodial                     X
                   bank accounts and related bank clearing accounts no more than two business
                   days following receipt, or such other number of days specified in the
                   transaction agreements.

1122(d)(2)(ii)     Disbursements made via wire transfer on behalf of an obligor or to an                       X
                   investor are made only by authorized personnel.

1122(d)(2)(iii)    Advances of funds or guarantees regarding collections, cash flows or                        X
                   distributions, and any interest or other fees charged for such advances,
                   are made, reviewed and approved as specified in the transaction agreements.

1122(d)(2)(iv)     The related accounts for the transaction, such as cash reserve accounts or                  X
                   accounts established as a form of overcollateralization, are separately
                   maintained (e.g., with respect to commingling of cash) as set forth in the
                   transaction agreements.

1122(d)(2)(v)      Each custodial account is maintained at a federally insured depository                      X
                   institution as set forth in the transaction agreements. For purposes of
                   this criterion, "federally insured depository institution" with respect to
                   a foreign financial institution means a foreign financial institution that
                   meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act.

1122(d)(2)(vi)     Unissued checks are safeguarded so as to prevent unauthorized access.                       X

1122(d)(2)(vii)    Reconciliations are prepared on a monthly basis for all asset-backed                        X
                   securities related bank accounts, including custodial accounts and related
                   bank clearing accounts. These reconciliations are (A) mathematically
                   accurate; (B) prepared within 30 calendar days after the bank statement
                   cutoff date, or such other number of days specified in the transaction
                   agreements; (C) reviewed and approved by someone other than the person who
                   prepared the reconciliation; and (D) contain explanations for reconciling
                   items. These reconciling items are resolved within 90 calendar days of
                   their original identification, or such other number of days specified in
                   the transaction agreements.


(page)


                                                                                                          APPLICABLE
                                                        SERVICING CRITERIA                             SERVICING CRITERIA
Reference                                                    Criteria

Investor Remittances and Reporting

1122(d)(3)(i)      Reports to investors, including those to be filed with the Commission, are                  X
                   maintained in accordance with the transaction agreements and applicable
                   Commission requirements. Specifically, such reports (A) are prepared in
                   accordance with timeframes and other terms set forth in the transaction
                   agreements; (B) provide information calculated in accordance with the terms
                   specified in the transaction agreements; (C) are filed with the Commission
                   as required by its rules and regulations; and (D) agree with investors' or
                   the trustee's records as to the total unpaid principal balance and number
                   of mortgage loans serviced by the Servicer.

1122(d)(3)(ii)     Amounts due to investors are allocated and remitted in accordance with                      X
                   timeframes, distribution priority and other terms set forth in the
                   transaction agreements,

1122(d)(3)(iii)    Disbursements made to an investor are posted within two business days to                    X
                   the Servicer's investor records, or such other number of days specified in
                   the transaction agreements.

1122(d)(3)(iv)     Amounts remitted to investors per the investor reports agree with cancelled                 X
                   checks, or other form of payment, or custodial bank statements.

Pool Asset Administration

1122(d)(4)(i)      Collateral or security on mortgage loans is maintained as required by the                   X
                   transaction agreements or related mortgage loan documents.

1122(d)(4)(ii)     Mortgage loan and related documents are safeguarded as required by the                      X
                   transaction agreements

1122(d)(4)(iii)    Any additions, removals or substitutions to the asset pool are made,                        X
                   reviewed and approved in accordance with any conditions or requirements in
                   the transaction agreements.

1122(d)(4)(iv)     Payments on mortgage loans, including any payoffs, made in accordance with                  X
                   the related mortgage loan documents are posted to the Servicer's obligor
                   records maintained no more than two business days after receipt, or such
                   other number of days specified in the transaction agreements, and allocated
                   to principal, interest or other items (e.g., escrow) in accordance with the
                   related mortgage loan documents.

1122(d)(4)(v)      The Servicer's records regarding the mortgage loans agree with the                          X
                   Servicer's records with respect to an obligor's unpaid principal balance.

1122(d)(4)(vi)     Changes with respect to the terms or status of an obligor's mortgage loans                  X
                   (e.g., loan modifications or re-agings) are made, reviewed and approved by
                   authorized personnel in accordance with the transaction agreements and
                   related pool asset documents.

1122(d)(4)(vii)    Loss mitigation or recovery actions (e.g., forbearance plans, modifications                 X
                   and deeds in lieu of foreclosure, foreclosures and repossessions, as
                   applicable) are initiated, conducted and concluded in accordance with the
                   timeframes or other requirements established by the transaction agreements.

1122(d)(4)(viii)   Records documenting collection efforts are maintained during the period a                   X
                   mortgage loan is delinquent in accordance with the transaction agreements.
                   Such records are maintained on at least a monthly basis, or such other
                   period specified in the transaction agreements, and describe the entity's
                   activities in monitoring delinquent mortgage loans including, for example,
                   phone calls, letters and payment rescheduling plans in cases where
                   delinquency is deemed temporary (e.g., illness or unemployment).

1122(d)(4)(ix)     Adjustments to interest rates or rates of return for mortgage loans with                    X
                   variable rates are computed based on the related mortgage loan documents.


(page)


                                                                                                          APPLICABLE
                                                        SERVICING CRITERIA                             SERVICING CRITERIA
Reference                                                    Criteria


1122(d)(4)(x)      Regarding any funds held in trust for an obligor (such as escrow accounts):                 X
                   (A) such funds are analyzed, in accordance with the obligor's mortgage loan
                   documents, on at least an annual basis, or such other period specified in
                   the transaction agreements; (B) Interest on such funds is paid, or
                   credited, to obligors in accordance with applicable mortgage loan documents
                   and state laws; and (C) such funds are returned to the obligor within 30
                   calendar days of full repayment of the related mortgage loans, or such
                   other number of days specified in the transaction agreements.

1122(d)(4)(xi)     Payments made on behalf of an obligor (such as tax or insurance payments)                   X
                   are made on or before the related penalty or expiration dates, as indicated
                   on the appropriate bills or notices for such payments, provided that such
                   support has been received by the servicer at least 30 calendar days prior
                   to these dates, or such other number of days specified in the transaction
                   agreements,

1122(d)(4)(xii)    Any late payment penalties in connection with any payment to be made on                     X
                   behalf of an obligor are paid from the servicer's funds and not charged to
                   the obligor, unless the late payment was due to the obligor's error or
                   omission.

1122(d)(4)(xiii)   Disbursements made on behalf of an obligor are posted within two business                   X
                   days to the obligor's records maintained by the servicer, or such other
                   number of days specified in the transaction agreements.

1122(d)(4)(xiv)    Delinquencies, charge-offs and uncollectible accounts are recognized and                    X
                   recorded in accordance with the transaction agreements.

1122(d)(4)(xv)     Any external enhancement or other support, identified in Item 1114(a)(1)                   N/A
                   through (3) or Item 1115 of Regulation AB, is maintained as set forth in
                   the transaction agreements.

</Table>


(page)


(logo) FREMONT
       INVESTMENT & LOAN


EXHIBIT B


FREMONT
* 2006-A
* 2006-B
* 2006-C
* 2006-D
* 2006-E
* 2005-A
* 2005-B
* 2005-C
* 2005-D
* 2005-E
* 2004-A
* 2004-B
* 2004-C
* 2004-D
* 2003-A
* 2003-B

CARRINGTON
* 2005-FRE1
* 2006-FRE1
* 2006-FRE2

CREDIT SUISSE DLJ/CSFB
* CSFB 2004-FRE1

DEUTSCHE
* ACE-2006FM1
* Interim - ACE-2006FM2
* Interim - ACE-2006HE1

GREENWICH
* Interim - Fremont Home Loan Trust 2006-1
* Fremont Home Loan Trust 2006-2
* Interim - Fremont Home Loan Trust 2006-3

GOLDMAN SACHS
* GSAMP 2006-FM2
* GSAMP 2006-FM3
* Interim - GSAMP 2006-HE2
* Interim - GSAMP 2006-HE3

SOCIETE GENERAL
* Interim - SGMS 2006-FRE2


LEGAL * 2727 E. IMPERIAL HWY * BREA, CA 92821

Member FDIC * Serving our customers since 1937


(page)


EXHIBIT 1


FREMONT
* Fremont Home Loan Trust 2006-A pursuant to a Pooling & Servicing Agreement
  dated May 1, 2006, among Financial Asset Securities Corp as Depositor, Fremont
  Investment & Loan as Sponsor, Wells Fargo Bank, N.A. as Master Servicer and
  HSBC Bank USA, National Association as Trustee
* Fremont Home Loan Trust 2006-B pursuant to a Pooling & Servicing Agreement
  dated August 1, 2006, among Fremont Mortgage Securities Corporation as
  Depositor, Fremont Investment & Loan as Originator, Wells Fargo Bank, N.A. as
  Master Servicer and HSBC Bank USA, National Association as Trustee
* Fremont Home Loan Trust 2006-C pursuant to a Pooling & Servicing Agreement
  dated September 1, 2006, among Fremont Mortgage Securities Corporation as
  Depositor, Fremont Investment & Loan as Originator, Wells Fargo Bank, N.A. as
  Master Servicer and HSBC Bank USA, National Association as Trustee
* Fremont Home Loan Trust 2006-D pursuant to a Pooling & Servicing Agreement
  dated November 1, 2006, among Fremont Mortgage Securities Corporation as
  Depositor, Fremont Investment & Loan as Sponsor, Wells Fargo Bank, N.A. as
  Master Servicer and HSBC Bank USA, National Association as Trustee
* Fremont Home Loan Trust 2006-E pursuant to a Pooling & Servicing Agreement
  dated December 1, 2006, among Fremont Mortgage Securities Corporation as
  Depositor, Fremont Investment & Loan as Sponsor, Wells Fargo Bank, N.A. as
  Master Servicer and HSBC Bank USA, National Association as Trustee
* Fremont Home Loan Trust 2005-A pursuant to a Pooling & Servicing Agreement
  dated February 1, 2005, among Fremont Mortgage Securities Corporation, Fremont
  Investment & Loan, Wells Fargo Bank, N.A. and HSBC Bank USA, National
  Association
* Fremont Home Loan Trust 2005-B pursuant to a Pooling & Servicing Agreement
  dated May 1, 2005, among Fremont Mortgage Securities Corporation, Fremont
  Investment & Loan, Wells Fargo Bank, N.A. and HSBC Bank USA, National
  Association
* Fremont Home Loan Trust 2005-C pursuant to a Pooling & Servicing Agreement
  dated July 1, 2005, among Fremont Mortgage Securities Corporation, Fremont
  Investment & Loan, Wells Fargo Bank, N.A. and HSBC Bank USA, National
  Association
* Fremont Home Loan Trust 2005-D pursuant to a Pooling & Servicing Agreement
  dated November 1, 2005, among Fremont Mortgage Securities Corporation, Fremont
  Investment & Loan, Wells Fargo Bank, N.A. and HSBC Bank USA, National
  Association
* Fremont Home Loan Trust 2005-E pursuant to a Pooling & Servicing Agreement
  dated December 1, 2005, among Fremont Mortgage Securities Corporation, Fremont
  Investment & Loan, Wells Fargo Bank, N.A. and HSBC Bank USA, National
  Association
* Fremont Home Loan Trust 2004-A pursuant to a Pooling & Servicing Agreement
  dated February 1, 2004, among GS Mortgage Securities Corp., Fremont Investment
  & Loan, Wells Fargo Bank Minnesota, National Association and HSBC Bank USA
* Fremont Home Loan Trust 2004-B pursuant to a Pooling & Servicing Agreement
  dated May 1, 2004, among Financial Asset Securities Corp., Fremont Investment
  & Loan, Wells Fargo Bank, N.A. and HSBC Bank USA
* Fremont Home Loan Trust 2004-C pursuant to a Pooling & Servicing Agreement
  dated August 1, 2004, among Fremont Mortgage Securities Corporation, Fremont
  Investment & Loan, Wells Fargo Bank, N.A. and HSBC Bank USA, National
  Association
* Fremont Home Loan Trust 2004-D pursuant to a Pooling & Servicing Agreement
  dated November 1, 2004, among Fremont Mortgage Securities Corporation, Fremont
  Investment & Loan, Wells Fargo Bank, N.A. and HSBC Bank USA, National
  Association
* Fremont Home Loan Trust 2003-A pursuant to a Pooling & Servicing Agreement
  dated August 1, 2003, among Financial Asset Securities Corp., Fremont
  Investment & Loan, Wells Fargo Bank Minnesota, National Association and HSBC
  Bank USA
* Fremont Home Loan Trust 2003-B pursuant to a Pooling & Servicing Agreement
  dated November 1, 2003, among Asset Backed Securities Corporation, Fremont
  Investment & Loan, Wells Fargo Bank Minnesota, National Association and HSBC
  Bank USA

CARRINGTON
* Carrington Mortgage Loan Trust 2005-FRE1 pursuant to a Pooling & Servicing
  Agreement dated October 1, 2005, among Stanwich Asset Acceptance Company,
  L.L.C., Deutsche Bank National Trust Company and Fremont Investment & Loan
* Carrington Mortgage Loan Trust 2006-FRE1 pursuant to a Pooling & Servicing
  Agreement dated June 1, 2006, among Stanwich Asset Acceptance Company, L.L.C.,
  Fremont Investment & Loan And Wells Fargo Bank, N.A.
* Carrington Mortgage Loan Trust 2006-FRE2 pursuant to a Pooling & Servicing
  Agreement dated October 1, 2006, among Stanwich Asset Acceptance Company,
  L.L.C., Fremont Investment & Loan and Wells Fargo Bank, N.A.

CREDIT SUISSE - DLJ/CSFB
* CSFB Home Equity Pass-Through Certificates 2004-FRE1 pursuant to a Pooling &
  Servicing Agreement dated August 1, 2004, among Credit Suisse First Boston
  Mortgage Securities Corp., DLJ Mortgage Capital, INC., Fremont Investment &
  Loan, Wells Fargo Bank, N.A., The Murrayhill Company, and U.S. Bank National
  Association

(REVISED - 3/22/07)


(page)


DEUTSCHE
* ACE Securities Corp. Home Equity Loan Trust 2006 FM1 pursuant to a Pooling &
  Servicing Agreement dated August 1, 2006, among ACE Securities Corp., Fremont
  Investment & Loan, Wells Fargo Bank, N.A. and HSBC Bank USA, National
  Association
* Interim - DB Structured Products, Inc Series 2006 FM2 pursuant to a Mortgage
  Loan Purchase and Interim Servicing Agreement dated May 1, 2004, among Fremont
  Investment & Loan and DB Structured Products, Inc.
* Interim - DB Structured Products, Inc Series 2006 HE1 pursuant to Master
  Mortgage Loan Purchase and Interim Servicing Agreement dated May 1, 2004,
  among Fremont Investment & Loan and DB Structured Products, Inc.

GREENWICH
* Interim - Fremont Home Loan Trust 20061 pursuant to a Mortgage Loan Purchase
  and Interim Servicing Agreement dated December 1, 2005, among Financial Asset
  Securities Corp., Fremont Investment & Loan, Deutsche Bank National Trust
  Company and Wells Fargo Bank
* Fremont Home Loan Trust 2006-2 pursuant to a Pooling & Servicing Agreement
  dated April 1, 2006, among Fremont Investment & Loan and Greenwich Capital
  Financial Products, Inc.
* Interim - Fremont Home Loan Trust 2006-3 pursuant to a Mortgage Loan Purchase
  and Interim Servicing Agreement dated December 1, 2005, among Fremont
  Investment & Loan And Greenwich Capital Financial Products, Inc.

GOLDMAN SACHS
* GSAMP Trust 2006-FM2 pursuant to a Pooling & Servicing Agreement dated
  September 1, 2006, among GS Mortgage Securities Corp., Fremont Investment &
  Loan, Deutsche Bank National Trust Company and Wells Fargo Bank
* GSAMP Trust 2006-FM3 pursuant to a Pooling & Servicing Agreement dated
  December 1, 2006, among GS Mortgage Securities Corp., Fremont Investment &
  Loan, Deutsche Bank National Trust Company and Wells Fargo Bank
* Interim - GSAMP Trust 2006-HE2 pursuant to a Amended and Restated Flow
  Mortgage Loan Purchase and Warranties Agreement dated January 1, 2006, among
  Goldman Sachs Mortgage Company and Fremont Investment & Loan
* Interim - GSAMP Trust 2006-HE3 pursuant to a Amended and Restated Flow
  Mortgage Loan Purchase and Warranties Agreement dated January 1, 2006, among
  Goldman Sachs Mortgage Company and Fremont Investment & Loan

SOCIETE GENERAL
* Interim - SG Mortgage Finance Corp. 2006-FRE2 pursuant to a Amended Mortgage
  Loan Purchase and Interim Servicing Agreement dated June 21, 2006, among
  Fremont Investment & Loan and SG Mortgage Finance Corp.


(REVISED - 3/22/07)

Exhibit 1
Page 2





EX-33 (e)
Report on Assessment of Compliance

with Regulation AB Servicing Criteria

1. The undersigned authorized officer of LandAmerica Tax and Flood Services,
Inc. (the "Company") is responsible for assessing the Company's compliance with
the applicable servicing criteria as defined in 17 CFR Part 229 Section 1122(d)
(4) (xi) and 1122(d) (4) (xii) (the "Regulation AB Servicing Criteria") for
residential mortgage backed securities for which the Company served as
third-party property tax payment provider on the underlying collateral (the
"Platform"). Except as set forth in the preceding sentence, the servicing
criteria set forth in 17 CFR Part 229 Section 1122(d) are not applicable to the
activities the Company performed with respect to the Platform.

2. The Company used the criteria in 17 CFR Part 229 Section 1122(d) to assess
the compliance with the Regulation AB Servicing Criteria.

3. Under one of the services offered by the Company, some customers may elect to
remit tax payments directly to tax agencies without having the Company remit
those property tax payments through our tax payment service. We refer to these
customers as "non-outsourced servicer customers." With respect to these
non-outsourced customers and the services the Company delivered pursuant to the
servicing criteria set forth in 17 CFR Part 229 Section 1122(d)(4)(xi), the
Company's assertion is strictly limited to its processing of tax payments
submitted through the Company's tax payment service.

4. With respect to servicing criteria set forth in 17 CFR Part 229 Section
1122(d)(4)(xii), the Company's assertion is strictly limited to its processing
of property tax penalty payments. The Company has determined that its servicer
customers may also have access to systems that enable those servicers to process
penalties through obligor escrow accounts. Management's assessment of compliance
does not relate to the actual or potential activities of other parties with
access to obligor escrow accounts.

5. Based on such assessment, management believes that, as of and for the year
ended December 31, 2006, the Company has complied in all material respects with
the Regulation AB Servicing Criteria related to the servicing of the Platform.

6. The registered public accounting firm of Grant Thornton, LLP, has issued an
attestation report on the Company's assessment of compliance with the Regulation
AB Servicing Criteria as of and for the year ended December 31, 2006.

Date: February 20, 2007

LandAmerica Tax and Flood Services, Inc.

By: /s/ Bob Ige
Name: Bob Ige
Its:  Executive Vice President





EX-33 (f)
(logo) OCWEN

Certification Regarding Compliance with Applicable Servicing Criteria

1.   Ocwen Loan Servicing, LLC ("Ocwen") is responsible for assessing compliance
     with the servicing criteria applicable to it under paragraph (d) of Item
     1122 of Regulation AB, as of and for the 12-month period ending December
     31, 2006 (the "Reporting Period"), as set forth in Appendix A hereto. The
     transactions covered by this report include asset-backed securities
     transactions for which Ocwen acted as servicer involving residential
     mortgage loans other than transactions closing prior to the effective date
     of Regulation AB (the "Platform") as set forth in Appendix B hereto;

2.   Ocwen has engaged certain vendors (the "Vendors") to perform specific,
     limited or scripted activities, and Ocwen elects to take responsibility for
     assessing compliance with the servicing criteria or portion of the
     servicing criteria applicable to such Vendors' activities as set forth in
     Appendix A hereto;

3.   Except as set forth in paragraph 4 below, Ocwen used the criteria set forth
     in paragraph (d) of Item 1122 of Regulation AB to assess the compliance
     with the applicable servicing criteria;

4.   The criteria listed in the column titled "Inapplicable Servicing Criteria"
     on Appendix A hereto are inapplicable to Ocwen based on the activities it
     performs, directly or through its Vendors, with respect to the Platform;

5.   Ocwen has complied, in all material respects, with the applicable servicing
     criteria as of December 31, 2006 and for the Reporting Period with respect
     to the Platform taken as a whole;

6.   Ocwen has not identified and is not aware of any material instance of
     noncompliance by the Vendors with the applicable servicing criteria as of
     December 31, 2006 and for the Reporting Period with respect to the Platform
     taken as a whole;

7.   Ocwen has not identified any material deficiency in its policies and
     procedures to monitor the compliance by the Vendors with the applicable
     servicing criteria as of December 31, 2006 and for the Reporting Period
     with respect to the Platform taken as a whole; and

8.   Crowe Chizek and Company LLC, a registered public accounting firm, has
     issued an attestation report on Ocwen's assessment of compliance with the
     applicable servicing criteria for the Reporting Period.

March 8, 2007
Ocwen Loan Servicing, LLC


By: /s/ Ronald M. Faris
Name:  Ronald M. Faris
Title: President


(page)


APPENDIX A

<TABLE>
<CAPTION>
<S>                                                                               <C>                             <C>
                                                                                                              INAPPLICABLE
                                                                              APPLICABLE                       SERVICING
                        SERVICING CRITERIA                                SERVICING CRITERIA                    CRITERIA
<CAPTION>
<S>                                     <C>                               <C>             <C>              <C>            <C>
                                                                                       Performed      Performed by
                                                                                           by        subservicer(s)       NOT
                                                                                        Vendor(s)     or vendor(s)    performed by
                                                                                       for which       for which      Ocwen or by
                                                                       Performed        Ocwen is        Ocwen is     subservicer(s)
                                                                        Directly          the           NOT the       or vendor(s)
                                                                           by         Responsible     Responsible     retained by
    Reference                        Criteria                             Ocwen           Party           Party           Ocwen

                          General Servicing Considerations

1122(d)(1)(i)    Policies and procedures are instituted to monitor         X
                 any performance or other triggers and events of
                 default in accordance with the transaction
                 agreements.

1122(d)(1)(ii)   If any material servicing activities are                  X
                 outsourced to third parties, policies and
                 procedures are instituted to monitor the third
                 party's performance and compliance with such
                 servicing activities.

1122(d)(1)(iii)  Any requirements in the transaction agreements to                                                         X
                 maintain a back-up servicer for the pool assets
                 are maintained.

1122(d)(1)(iv)   A fidelity bond and errors and omissions policy is        X
                 in effect on the party participating in the
                 servicing function throughout the reporting period
                 in the amount of coverage required by and
                 otherwise in accordance with the terms of the
                 transaction agreements.

                         Cash Collection and Administration

1122(d)(2)(i)    Payments on pool assets are deposited into the            X^1                               X^1
                 appropriate custodial bank accounts and related
                 bank clearing accounts no more than two business
                 days following receipt, or such other number of
                 days specified in the transaction agreements.

1122(d)(2)(ii)   Disbursements made via wire transfer on behalf of         X
                 an obligor or to an investor are made only by
                 authorized personnel

1122(d)(2)(iii)  Advances of funds or guarantees regarding                 X
                 collections, cash flows or distributions, and any
                 interest or other fees charged for such advances,
                 are made, reviewed and approved as specified in
                 the transaction agreements.

1122(d)(2)(iv)   The related accounts for the transaction, such as         X
                 cash reserve accounts or accounts established as
                 a form of overcollateralization, are separately
                 maintained (e.g., with respect to commingling of
                 cash) as set forth in the transaction agreements.



1122(d)(2)(v)    Each custodial account is maintained at a                 X
                 federally insured depository institution as set
                 forth in the transaction agreements. For purposes
                 of this criterion, "federally insured depository
                 institution" with respect to a foreign financial
                 institution means a foreign financial institution
                 that meets the requirements of Rule 13k-1(b)(1)
                 of the Securities Exchange Act.
</TABLE>


(page)


<TABLE>
<CAPTION>
<S>                                                                               <C>                             <C>
                                                                                                              INAPPLICABLE
                                                                              APPLICABLE                       SERVICING
                        SERVICING CRITERIA                                SERVICING CRITERIA                    CRITERIA
<CAPTION>
<S>                                     <C>                               <C>             <C>              <C>            <C>
                                                                                       Performed      Performed by
                                                                                           by        subservicer(s)       NOT
                                                                                        Vendor(s)     or vendor(s)    performed by
                                                                                       for which       for which      Ocwen or by
                                                                       Performed        Ocwen is        Ocwen is     subservicer(s)
                                                                        Directly          the           NOT the       or vendor(s)
                                                                           by         Responsible     Responsible     retained by
    Reference                        Criteria                             Ocwen           Party           Party           Ocwen

1122(d)(2)(vi)   Unissued checks are safeguarded so as to prevent          X^2                               X^2
                 unauthorized access.

1122(d)(2)(vii)  Reconciliations are prepared on a monthly basis           X
                 for all asset-backed securities related bank
                 accounts, including custodial accounts and related
                 bank clearing accounts. These reconciliations are
                 (A) mathematically accurate; (B) prepared within
                 30 calendar days after the bank statement cutoff
                 date, or such other number of days specified in
                 the transaction agreements: (C) reviewed and
                 approved by someone other than the person who
                 prepared the reconciliation; and (D) contain
                 explanations for reconciling items. These
                 reconciling items are resolved within 90 calendar
                 days of their original identification, or such
                 other number of days specified in the transaction
                 agreements.

                         Investor Remittances and Reporting

1122(d)(3)(i)    Reports to investors, including those to be filed         X^3
                 with the Commission, are maintained in accordance
                 with the transaction agreements and applicable
                 Commission requirements. Specifically, such
                 reports (A) are prepared in accordance with
                 timeframes and other terms set forth in the
                 transaction agreements; (B) provide information
                 calculated in accordance with the terms specified
                 in the transaction agreements; (C) are filed with
                 the Commission as required by its rules and
                 regulations; and (D) agree with investors' or the
                 trustee's records as to the total unpaid principal
                 balance and number of pool assets serviced by the
                 Servicer.

1122(d)(3)(ii)   Amounts due to investors are allocated and                X^3
                 remitted in accordance with timeframes,
                 distribution priority and other terms set forth
                 in the transaction agreements.

1122(d)(3)(iii)  Disbursements made to an investor are posted              X^3
                 within two business days to the Servicer's
                 investor records, or such other number of days
                 specified in the transaction agreements.

1122(d)(3)(iv)   Amounts remitted to investors per the investor            X^3
                 reports agree with cancelled checks, or other form
                 of payment, on custodial bank statements.
</TABLE>


(page)


<TABLE>
<CAPTION>
<S>                                                                               <C>                             <C>
                                                                                                              INAPPLICABLE
                                                                              APPLICABLE                       SERVICING
                        SERVICING CRITERIA                                SERVICING CRITERIA                    CRITERIA
<CAPTION>
<S>                                     <C>                               <C>             <C>              <C>            <C>
                                                                                       Performed      Performed by
                                                                                           by        subservicer(s)       NOT
                                                                                        Vendor(s)     or vendor(s)    performed by
                                                                                       for which       for which      Ocwen or by
                                                                       Performed        Ocwen is        Ocwen is     subservicer(s)
                                                                        Directly          the           NOT the       or vendor(s)
                                                                           by         Responsible     Responsible     retained by
    Reference                        Criteria                             Ocwen           Party           Party           Ocwen

                             Pool Asset Administration

1122(d)(4)(i)    Collateral or security on pool assets is                  X
                 maintained as required by the transaction
                 agreements or related mortgage loan documents.

1122(d)(4)(ii)   Pool asset and related documents are safeguarded          X
                 as required by the transaction agreements

1122(d)(4)(iii)  Any additions, removals or substitutions to the           X
                 asset pool are made, reviewed and approved in
                 accordance with any conditions or requirements in
                 the transaction agreements.

1122(d)(4)(iv)   Payments on pool assets, including any payoffs,           X^4                               X^4
                 made in accordance with the related pool asset
                 documents are posted to the Servicer's obligor
                 records maintained no more than two business days
                 after receipt, or such other number of days
                 specified in the transaction agreements, and
                 allocated to principal, interest or other items
                 (e.g., escrow) in accordance with the related pool
                 asset documents.

1122(d)(4)(v)    The Servicer's records regarding the pool assets          X
                 agree with the Servicer's records with respect to
                 an obligor's unpaid principal balance.

1122(d)(4)(vi)   Changes with respect to the terms or status of an         X
                 obligor's pool assets (e.g., loan modifications or
                 re-agings) are made, reviewed and approved by
                 authorized personnel in accordance with the
                 transaction agreements and related pool asset
                 documents.

1122(d)(4)(vii)  Loss mitigation or recovery actions                       X
                 (e.g., forbearance plans, modifications and
                 deeds in lieu of foreclosure, foreclosures and
                 repossessions, as applicable) are initiated,
                 conducted and concluded in accordance with the
                 timeframes or other requirements established
                 by the transaction agreements.

1122(d)(4)(viii) Records documenting collection efforts are                X
                 maintained during the period a pool asset is
                 delinquent in accordance with the transaction
                 agreements. Such records are maintained on at
                 least a monthly basis, or such other period
                 specified in the transaction agreements, and
                 describe the entity's activities in monitoring
                 delinquent pool assets including, for example,
                 phone calls, letters and payment rescheduling
                 plans in cases where delinquency is deemed
                 temporary (e.g., illness or unemployment).

1122(d)(4)(ix)   Adjustments to interest rates or rates of return          X
                 for pool assets with variable rates are computed
                 based on the related pool asset documents.
</TABLE>


(page)


<TABLE>
<CAPTION>
<S>                                                                               <C>                             <C>
                                                                                                              INAPPLICABLE
                                                                              APPLICABLE                       SERVICING
                        SERVICING CRITERIA                                SERVICING CRITERIA                    CRITERIA
<CAPTION>
<S>                                     <C>                               <C>             <C>              <C>            <C>
                                                                                       Performed      Performed by
                                                                                           by        subservicer(s)       NOT
                                                                                        Vendor(s)     or vendor(s)    performed by
                                                                                       for which       for which      Ocwen or by
                                                                       Performed        Ocwen is        Ocwen is     subservicer(s)
                                                                        Directly          the           NOT the       or vendor(s)
                                                                           by         Responsible     Responsible     retained by
    Reference                        Criteria                             Ocwen           Party           Party           Ocwen

1122(d)(4)(x)    Regarding any funds held in trust for an obligor          X
                 (such as escrow accounts): (A) such funds are
                 analyzed, in accordance with the obligor's pool
                 asset documents, on at least an annual basis, or
                 such other period specified in the transaction
                 agreements; (B) interest on such funds is paid, or
                 credited, to obligors in accordance with
                 applicable pool asset documents and state laws;
                 and (C) such funds are returned to the obligor
                 within 30 calendar days of full repayment of the
                 related pool assets, or such other number of days
                 specified in the transaction agreements.

1122(d)(4)(xi)   Payments made on behalf of an obligor (such as            X^5                               X^5
                 tax or insurance payments) are made on or before
                 the related penalty or expiration dates, as
                 indicated on the appropriate bills or notices
                 for such payments, provided that such support has
                 been received by the Servicer at least 30 calendar
                 days prior to these dates, or such other number of
                 days specified in the transaction agreements.

1122(d)(4)(xii)  Any late payment penalties in connection with             X^6                               X^6
                 any payment to be made on behalf of an obligor are
                 paid from the Servicer's funds and not charged to
                 the obligor, unless the late payment was due to
                 the obligor's error or omission.

1122(d)(4)(xiii) Disbursements made on behalf of an obligor are            X^7                               X^7
                 posted within two business days to the obligor's
                 records maintained by the Servicer, or such other
                 number of days specified in the transaction
                 agreements.

1122(d)(4)(xiv)  Delinquencies, charge-offs and uncollectible              X
                 accounts are recognized and recorded in accordance
                 with the transaction agreements.

1122(d)(4)(xv)   Any external enhancement or other support,                                                                X
                 identified in Item 1114(a)(1) through (3) or
                 Item 1115 of Regulation AB, is maintained as set
                 forth in the transaction agreements.




<FN>
1  Both Regulus Group LLC and Ocwen perform aspects of this servicing criteria.
   Regulus is responsible for depositing any checks received into the payment
   deposit account Ocwen is responsible for other forms of payments, and the
   sweeping of funds deposited in the payment deposit account to the appropriate
   deal level custodial bank accounts.

2  Assurant, Inc. and Ocwen each issue checks and maintain unissued checks.
   Assurant issues checks for the insurance advances, while Ocwen issues all
   other checks.

3  Ocwen has determined for purposes of assessing the servicing criteria listed
   in Items 1122(d)(3(i)-(iv) that, pursuant to the Securities and Exchange
   Commission Telephone Interpretation 11.03, the term "investor" as used in
   those Items does not pertain to the entity to which Ocwen provides the
   applicable information (i.e. Master Servicer, Trustee, etc.) and includes
   certificate and bond holders. Consequently, the information regarding such
   items provided herein relates to Ocwen's provision of such information to the
   entity who ultimately disseminates such information to the investors.

4  Regulus transmits a daily data file that represents payments received for the
   current day to Ocwen. Ocwen then loads the data file received from Regulus in
   its servicing system, which then applies the funds in accordance with the
   terms of the related transaction agreements.

5  Assurant, Inc. and First American Real Estate Solutions of Texas, L.P.
   ("First American") transmit daily data files for insurance and taxes,
   respectively, which represent payments received for the current day to
   Ocwen. Ocwen loads the data files into its servicing system, which records
   the disbursements in the system and then sends the applicable funds via mail
   or wire.

6  First American identifies late payments and includes them as part of the
   daily data transmissions. Ocwen identifies late payments in the data
   transmissions and credits to the borrower's applicable account on its
   servicing system. Ocwen also maintains control reports to identify any late
   payments not identified by First American.

7  First American transmits daily data files that represent disbursements
   required to be made by Ocwen. Ocwen loads the stat file into its servicing
   system and records the disbursements on the system.
</FN>
</TABLE>


(page)


APPENDIX B


<TABLE>
<CAPTION>
<S>                      <C>

                      Deal Name

ACE Securities Corp. Home Equity Loan Trust, Series 2006-ASAP2

ACE Securities Corp. Home Equity Loan Trust, Series 2006-SL1

ACE Securities Corp. Home Equity Loan Trust, Series 2006-SL2

ACE Securities Corp. Home Equity Loan Trust, Series 2006-ASAP3

ACE Securities Corp. Home Equity Loan Trust, Series 2006-ASAP4

ACE Securities Corp. Home Equity Loan Trust, Series 2006-ASAP5

ACE Securities Corp. Home Equity Loan Trust, Series 2006-ASAP6

ACE Securities Corp. Home Equity Loan Trust, Series 2006-ASL1

ACE Securities Corp. Home Equity Loan Trust, Series 2006-HE1

ACE Securities Corp. Home Equity Loan Trust, Series 2006-HE2

ACE Securities Corp. Home Equity Loan Trust, Series 2006-HE3

ACE Securities Corp. Home Equity Loan Trust, Series 2006-HE4

ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD1

ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD2

ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3

ACE Securities Corp. Home Equity Loan Trust, Series 2006-SL3

BanCap Asset Securitization Issuance Corporation, Mortgage Loan Asset Backed Certificates, Series 2006-1

Bravo Mortgage Asset Backed Pass-Through Certificates, Series 2006-1

Citigroup Mortgage Loan Trust Inc. Asset-Backed Pass-Through Certificates, Series 2006-HE3

CS Home Equity Mortgage Trust Series 2006-3

CS Home Equity Mortgage Trust Series 2006-4

CS Home Equity Mortgage Trust Series 2006-5

CSFB Home Equity Asset Trust 2006-2

CS Home Equity Mortgage Trust Series 2006-1

CS Home Equity Mortgage Trust Series 2006-2

Credit Suisse Seasoned Loan Trust 2006-1

GSAA Home Equity Trust 2006-S1

GSAMP Trust 2006-NC2

GSAMP Trust 2006-S2

GSAMP Trust 2006-S3

GSAMP Trust 2006-S4

GSAMP Trust 2006-S5

GSAMP Trust 2005-S6

GSAMP Trust 2006-SD2

GSAMP Trust 2006-SD3

GSAMP Trust 2006-SEA1

GSRPM Mortgage Loan Trust 2006-2
</TABLE>


(page)


<TABLE>
<CAPTION>
<S>                      <C>

                      Deal Name

MASTR Asset Backed Securities Trust 2006-AM1

MASTR Asset Backed Securities Trust 2006-AM3

Nomura Asset Acceptance Corporation Series 2006-S1

Nomura Asset Acceptance Corporation Series 2006-S2

Nomura Asset Acceptance Corporation Series 2006-S3

Nomura Asset Acceptance Corporation Series 2006-S4

Nomura Asset Acceptance Corporation Series 2006-S5

Nomura Home Equity Loan, Inc., Series 2006-HE1

Nomura Home Equity Loan, Inc., Series 2006-HE2

Nomura Home Equity Loan, Inc., Series 2006-HE3

Renaissance Home Equity Loan Trust 2006-1

Renaissance Home Equity Loan Trust 2006-2

Renaissance Home Equity Loan Trust 2006-3

Renaissance Home Equity Loan Trust 2006-4

ResMAE Asset Backed Pass-Through Certificates, Series 2006-1

Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates, Series 2006-4

Structured Asset Securities Corporation Mortgage Pass-Through Certificates, Series 2006-S2

Soundview Home Loan Trust 2006-EQ2

Soundview Home Loan Trust 2006-NLC1
</TABLE>





EX-33 (g)
(logo) REGULUS

Report on Assessment of Compliance with Regulation AB Servicing Criteria

1.   Pursuant to Subpart 229.1100 - Asset Backed Securities, 17 C.F.R. Section
     229.1100-229.1123 ("Regulation AB"), Regulus Group LLC, for itself and its
     wholly-owned subsidiaries (individually and collectively "Regulus"), is
     responsible for assessing its compliance with the servicing criteria
     applicable to the remittance processing services it provides to customers
     who are issuers or servicers of asset backed securities transactions and
     who have requested confirmation of Regulus' compliance in connection with
     loan and/or receivables portfolios that include pool assets for asset
     backed securities transactions (the "Platform"). Remittance processing is a
     service whereby check payments that are remitted by mail to a post office
     box are collected, processed through a highly automated data capture
     system, and prepared for deposit to a bank account held by the beneficiary
     of the payment.

2.   The servicing criteria set forth in Item 1122(d) of Regulation AB were used
     in Regulus' assessment of compliance. Regulus has concluded that the
     servicing criteria set forth in Items 1122(d)(2)(i) and 1122(d)(4)(iv) of
     Regulation AB are applicable to the servicing activities it performs with
     respect to the Platform (such criteria the "Applicable Servicing
     Criteria"). Regulus has concluded that the remainder of the servicing
     criteria set forth in Item 1122(d) of Regulation AB are inapplicable to the
     activities it performs with respect to the Platform because Regulus does
     not participate in the servicing activities referenced by such servicing
     criteria.

3.   As of and for the year ending December 31, 2006, Regulus has complied in
     all material respects with the Applicable Servicing Criteria set forth in
     Item 1122(d) of Regulation AB.

4.   KPMG LLP, a registered public accounting firm, has issued an attestation
     report on Regulus' assessment of compliance with the Applicable Servicing
     Criteria as of and for the year ending December 31, 2006. A copy of that
     attestation report is attached hereto as Exhibit A.

/s/ Kimberlee Clark
Kimberlee Clark
Chief Financial Officer

February 22, 2007


860 LATOUR COURT  NAPA, CA  94558  TEL: 707.254.4000  FAX: 707.254.4070
REGULUSGROUP.COM


(page)


(logo) REGULUS

Management's Report on Assessment of Compliance
with Regulation AB Servicing Criteria

1.   Pursuant to Subpart 229.1100 - Asset Backed Securities, 17 C.F.R. Section
     229.1100-229.1123 ("Regulation AB"), Regulus Group LLC, for itself and its
     wholly-owned subsidiaries (individually and collectively "Regulus"), is
     responsible for assessing its compliance with the servicing criteria
     applicable to the remittance processing services it provides to customers
     who are issuers or servicers of asset backed securities transactions and
     who have requested confirmation of Regulus' compliance in connection with
     loan and/or receivables portfolios that include pool assets for asset
     backed securities transactions (the "Platform"). Remittance processing is a
     service whereby check payments that are remitted by mail to a post office
     box are collected, processed through a highly automated data capture
     system, and prepared for deposit to a bank account held by the beneficiary
     of the payment.

2.   The servicing criteria set forth in Item 1122(d) of Regulation AB were used
     in Regulus' assessment of compliance. Regulus has concluded that the
     servicing criteria set forth in Items 1122(d)(2)(i) and 1122(d)(4)(iv) of
     Regulation AB are applicable to the servicing activities it performs with
     respect to the Platform (such criteria the "Applicable Servicing
     Criteria"). Regulus has concluded that the remainder of the servicing
     criteria set forth in Item 1122(d) of Regulation AB are inapplicable to the
     activities it performs with respect to the Platform because Regulus does
     not participate in the servicing activities referenced by such servicing
     criteria.

3.   As of and for the year ending December 31, 2006, Regulus has complied in
     all material respects with the Applicable Servicing Criteria set forth in
     Item 1122(d) of Regulation AB.

/s/ Kimberlee Clark
Kimberlee Clark
Chief Financial Officer

February 22, 2007


860 LATOUR COURT  NAPA, CA  94558  TEL: 707.254.4000  FAX: 707.254.4070
REGULUSGROUP.COM


(page)


(logo) REGULUS


Report on Assessment of Compliance with Regulation AB Item 1123

Pursuant to Item 1123 of Regulation AB, a review of the Regulus' activities
during the year ended December 31, 2006 (the "Reporting Period") and of its
performance under the servicing agreement between Regulus and Ocwen Mortgage
(the "Servicing Agreement") has been made under the undersigned officer's
supervision. To the best of such officer's knowledge, based on such review,
Regulus has fulfilled its obligations under the Servicing Agreement in all
material respects throughout the Reporting Period.

/s/ Kimberlee Clark
Kimberlee Clark
Chief Financial Officer

February 22, 2007


860 LATOUR COURT  NAPA, CA  94558  TEL: 707.254.4000  FAX: 707.254.4070
REGULUSGROUP.COM





EX-33 (h)
(logo) REGULUS


Report on Assessment of Compliance with Regulation AB Servicing Criteria

1. Pursuant to Subpart 229.1100 - Asset Backed Securities, 17 C.F.R. section
   229. 1100-229.1123 ("Regulation AB"), Regulus Group LLC, for itself and its
   wholly-owned subsidiaries (individually and collectively "Regulus"), is
   responsible for assessing its compliance with the servicing criteria
   applicable to the remittance processing services it provides to customers who
   are issuers or servicers of asset backed securities transactions and who have
   requested confirmation of Regulus' compliance in connection with loan and/or
   receivables portfolios that include pool assets for asset backed securities
   transactions (the "Platform"). Remittance processing is a service whereby
   check payments that are remitted by mail to a post office box are collected,
   processed through a highly automated data capture system, and prepared for
   deposit to a bank account held by the beneficiary of the payment.

2. The servicing criteria set forth in Item 1122(d) of Regulation AB were used
   in Regulus' assessment of compliance. Regulus has concluded that the
   servicing criteria set forth in Items 1122(d)(2)(i) and 1122(d)(4)(iv) of
   Regulation AB are applicable to the servicing activities it performs with
   respect to the Platform (such criteria the "Applicable Servicing Criteria").
   Regulus has concluded that the remainder of the servicing criteria set forth
   in Item 1122(d) of Regulation AB are inapplicable to the activities it
   performs with respect to the Platform because Regulus does not participate in
   the servicing activities referenced by such servicing criteria.

3. As of and for the year ending December 31, 2006, Regulus has complied in all
   material respects with the Applicable Servicing Criteria set forth in Item
   1122(d) of Regulation AB.

4. KPMG LLP, a registered public accounting firm, has issued an attestation
   report on Regulus' assessment of compliance with the Applicable Servicing
   Criteria as of and for the year ending December 31, 2006. A copy of that
   attestation report is attached hereto as Exhibit A.


/s/ Kimberlee Clark
Kimberlee Clark
Chief Financial Officer

February 22, 2007


860 LATOUR COURT | NAPA, CA | 94558 | TEL: 707.254.4000 | FAX: 707.254.4070
| REGULU5GROUP.COM





EX-33 (i)
(logo) WELLS FARGO HOME MORTGAGE

Wells Fargo Home Mortgage
One Home Campus
Des Moines, IA 50328-0001

YourWellsFargoMortgage.com


Wells Fargo Bank, N.A.

2006 Certification Regarding Compliance with Applicable Servicing Criteria


1.      Wells Fargo Bank, N.A. (the "Servicer") is responsible for assessing
        its compliance with the servicing criteria applicable to it under
        paragraph (d) of Item 1122 of Regulation AB as set forth in Exhibit A
        hereto in connection with the primary servicing of residential mortgage
        loans by its Wells Fargo Home Mortgage division, other than the
        servicing of such loans for Freddie Mac, Fannie Mae, Ginnie Mae, state
        and local government bond programs, or a Federal Home Loan Bank (the
        servicing "Platform");

2.      The Servicer has engaged certain vendors (the "Vendors") to perform
        specific, limited or scripted activities as of and for the year ended
        December 31, 2006, and the Servicer has elected to take responsibility
        for assessing compliance with the servicing criteria or portion of the
        servicing criteria applicable to such Vendors as set forth in Exhibit A
        hereto, with the exception of those Vendors that have provided their own
        report on assessment of compliance with servicing criteria, which
        reports are attached hereto as Exhibit D;

3.      Except as set forth in paragraph 4 below, the Servicer used the criteria
        set forth in paragraph (d) of Item 1122 of Regulation AB to assess the
        compliance with the applicable servicing criteria;

4.      The criteria identified as Inapplicable Servicing Criteria on Exhibit A
        hereto are inapplicable to the Servicer based on the activities it
        performs with respect to its Platform;

5.      The Servicer has complied, in all material respects, with the applicable
        servicing criteria as of and for the year ended December 31, 2006,
        except as described on Exhibit B hereto;

6.      The Servicer has not identified and is not aware of any material
        instance of noncompliance by the Vendors with the applicable servicing
        criteria as of and for the year ended December 31, 2006;

7.      The Servicer has not identified any material deficiency in its policies
        and procedures to monitor the compliance by the Vendors with the
        applicable servicing criteria for the year ended December 31, 2006; and

8.      KPMG LLP, a registered public accounting firm, has issued an attestation
        report on the Servicer's assessment of compliance with the applicable
        servicing criteria as of and for the year ended December 31, 2006, which
        attestation report is included on Exhibit C attached hereto.

March 1, 2007

WELLS FARGO BANK, N.A.

By:  /s/ Mary C. Coffin
Mary C. Coffin
Executive Vice President


Wells Fargo Home Mortgage
is a division of Wells Fargo Bank, N.A.


(page)


EXHIBIT A
to
Wells Fargo Bank, N.A.'s
2006 Certification Regarding Compliance With Applicable Servicing Criteria

<Table>
<Caption>

             <c>

                                 Servicing Criteria                                          Applicable Servicing       Inapplicable
                                                                                                  Criteria                Servicing
                                                                                                                          Criteria
Reference                                  Criteria                                     Performed           Performed
                                                                                           by                   by
                                                                                        Servicer            Vendor(s)

General Servicing Considerations

                 Policies and procedures are instituted to monitor any performance or       X
                 other triggers and events of default in accordance with the
1122(d)(1)(i)    transaction agreements.

                 If any material servicing activities are outsourced to third parties,      X
                 policies and procedures are instituted to monitor the third party's
1122(d)(1)(ii)   performance and compliance with such servicing activities.

                 Any requirements in the transaction agreements to maintain a back-up                                         X
1122(d)(1)(iii)  servicer for the mortgage loans are maintained.

                 A fidelity bond and errors and omissions policy is in effect on the        X
                 party participating in the servicing function throughout the reporting
                 period in the amount of coverage required by and otherwise in
1122(d)(1)(iv)   accordance with the terms of the transaction agreements.

Cash Collection and Administration

                 Payments on mortgage loans are deposited into the appropriate              X^1                  X^2
                 custodial bank accounts and related bank clearing accounts no more
                 than two business days following receipt, or such other number of
1122(d)(2)(i)    days specified in the transaction agreements.

                 Disbursements made via wire transfer on behalf of an obligor or to an      X
1122(d)(2)(ii)   investor are made only by authorized personnel.

                 Advances of funds or guarantees regarding collections, cash flows or       X
                 distributions, and any interest or other fees charged for such
                 advances, are made, reviewed and approved as specified in the
1122(d)(2)(iii)  transaction agreements.

                 The related accounts for the transaction, such as cash reserve             X
                 accounts or accounts established as a form of overcollateralization
                 are separately maintained (e.g., with respect to commingling of cash)
1122(d)(2)(iv)   as set forth in the transaction agreements.

                 Each custodial account is maintained at a federally insured                X
                 depository institution as set forth in the transaction agreements.
                 For purposes of this criterion, "federally insured depository
                 institution" with respect to a foreign financial institution means a
                 foreign financial institution that meets the requirements of Rule
1122(d)(2)(v)    13k-1(b)(1) of the Securities Exchange Act.

1122(d)(2)(vi)   Unissued checks are safeguarded so as to prevent unauthorized access.      X^3                  X^4


(page)


                                 Servicing Criteria                                          Applicable Servicing       Inapplicable
                                                                                                  Criteria                Servicing
                                                                                                                          Criteria
Reference                                  Criteria                                     Performed           Performed
                                                                                           by                   by
                                                                                        Servicer            Vendor(s)

                 Reconciliations are prepared on a monthly basis for all asset-backed       X
                 securities related bank accounts, including custodial accounts and
                 related bank clearing accounts. These reconciliations are (A)
                 mathematically accurate; (B) prepared within 30 calendar days after
                 the bank statement cutoff date, or such other number of days
                 specified in the transaction agreements; (C) reviewed and approved by
                 someone other than the person who prepared the reconciliation, and
                 (D) contain explanations for reconciling items. These reconciling
                 items are resolved within 90 calendar days of their original
                 identification, or such other number of days specified in the
1122(d)(2)(vii)  transaction agreements.

Investor Remittances and Reporting

                 Reports to investors, including those to be filed with the                 X
                 Commission, are maintained in accordance with the transaction
                 agreements and applicable Commission requirements. Specifically, such
                 reports (A) are prepared in accordance with timeframes and other
                 terms set forth in the transaction agreements; (B) provide
                 information calculated in accordance with the terms specified in the
                 transaction agreements; (C) are filed with the Commission as required
                 by its rules and regulations; and (D) agree with investors' or the
                 trustee's records as to the total unpaid principal balance and number
1122(d)(3)(i)    of mortgage loans serviced by the Servicer.

                 Amounts due to investors are allocated and remitted in accordance          X
                 with timeframes, distribution priority and other terms set forth in
1122(d)(3)(ii)   the transaction agreements.

                 Disbursements made to an investor are posted within two business days      X
                 to the Servicer's investor records, or such other number of days
1122(d)(3)(iii)  specified in the transaction agreements.

                 Amounts remitted to investors per the investor reports agree with          X
                 cancelled checks, or other form of payment, or custodial bank
1122(d)(3)(iv)   statements.

Pool Asset Administration

                 Collateral or security on mortgage loans is maintained as required by      X
1122(d)(4)(i)    the transaction agreements or related mortgage loan documents.

                 Mortgage loan and related documents are safeguarded as required by         X
1122(d)(4)(ii)   the transaction agreements.

                 Any additions, removals or substitutions to the asset pool are made        X
                 reviewed and approved in accordance with any conditions or
1122(d)(4)(iii)  requirements in the transaction agreements.

                 Payments on mortgage loans, including any payoffs, made in                 X^5                  X^6
                 accordance with the related mortgage loan documents are posted to the
                 Servicer's obligor records maintained no more than two business days
                 after receipt, or such other number of days specified in the
                 transaction agreements, and allocated to principal, interest or other
                 items (e.g., escrow) in accordance with the related mortgage loan
1122(d)(4)(iv)   documents.

                 The Servicer's records regarding the mortgage loans agree with the         X
                 Servicer's records with respect to an obligor's unpaid principal
1122(d)(4)(v)    balance.

                 Changes with respect to the terms or status of an obligor's mortgage       X
                 loans (e.g., loan modifications or re-agings) are made, reviewed
                 and approved by authorized personnel in accordance with the
1122(d)(4)(vi)   transaction agreements and related pool asset documents.


(page)


                                 Servicing Criteria                                          Applicable Servicing       Inapplicable
                                                                                                  Criteria                Servicing
                                                                                                                          Criteria
Reference                                  Criteria                                     Performed           Performed
                                                                                           by                   by
                                                                                        Servicer            Vendor(s)

                 Loss mitigation or recovery actions (e.g., forbearance plans,              X
                 modifications and deeds in lieu of foreclosure, foreclosures and
                 repossessions, as applicable) are initiated, conducted and concluded
                 in accordance with the timeframes or other requirements established
1122(d)(4)(vii)  by the transaction agreements.

                 Records documenting collection efforts are maintained during the           X
                 period a mortgage loan is delinquent in accordance with the
                 transaction agreements. Such records are maintained on at least a
                 monthly basis, or such other period specified in the transaction
                 agreements, and describe the entity's activities in monitoring
                 delinquent mortgage loans including, for example, phone calls,
                 letters and payment rescheduling plans in cases where delinquency is
1122(d)(4)(viii) deemed temporary (e.g., illness or unemployment).

                 Adjustments to interest rates or rates of return for mortgage loans        X
                 with variable rates are computed based on the related mortgage loan
1122(d)(4)(ix)   documents.

                 Regarding any funds held in trust for an obligor (such as escrow           X
                 accounts): (A) such funds are analyzed, in accordance with the
                 obligor's mortgage loan documents, on at least an annual basis, or
                 such other period specified in the transaction agreements; (B)
                 interest on such funds is paid, or credited to obligors in
                 accordance with applicable mortgage loan documents and state laws;
                 and (C) such funds are returned to the obligor within 30 calendar
                 days of full repayment of the related mortgage loans, or such other
1122(d)(4)(x)    number of days specified in the transaction agreements.

                 Payments made on behalf of an obligor (such as tax or insurance            X^7                  X^8
                 payments) are made on or before the related penalty or expiration
                 dates, as indicated on the appropriate bills or notices for such
                 payments, provided that such support has been received by the
                 servicer at least 30 calendar days prior to these dates, or such
1122(d)(4)(xi)   other number of days specified in the transaction agreements.

                 Any late payment penalties in connection with any payment to be made       X
                 on behalf of an obligor are paid from the Servicer's funds and not
                 charged in the obligor, unless the late payment was due to the
1122(d)(4)(xii)  obligor's error or omission.

                 Disbursements made on behalf of an obligor are posted within two           X^9                  X^10
                 business days to the obligor's records maintained by the servicer, or
1122(d)(4)(xiii) such other number of days specified in the transaction agreements.

                 Delinquencies, charge-offs and uncollectible accounts are recognized       X
1122(d)(4)(xiv)  and recorded in accordance with the transaction agreements.

                 Any external enhancement or other support, identified in Item                                                X
                 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained
1122(d)(4)(xv)   as set forth in the transaction agreements.


1 A portion of this servicing criteria is performed by a vendor, as set forth in footnote 2 below.
2 A lockbox vendor receives payments, creates transaction files, deposits checks, reconciles files to
deposits and transmits the transaction files to Wells Fargo. See Exhibit D.
3 A portion of this servicing criteria is performed by vendors, as set forth in footnote 4 below.
4 Insurance vendors prepare and safeguard checks on behalf of Wells Fargo. As to one
such vendor, see Exhibit D.
5 A portion of this servicing criteria is performed by a vendor, as set forth in footnote 6 below.
6 A lockbox vendor receives payments, creates transaction files, deposits checks, reconciles files
to deposits and transmits the transaction files to Wells Fargo. See Exhibit D.
7 A portion of this servicing criteria is performed by vendors, as set forth in footnote 8 below.
8 Insurance vendors obtain renewal invoices, create disbursement transactions and submit payments
to payees. As to one such vendor, see Exhibit D.
9 A portion of this servicing criteria is performed by one or more vendors, as set forth in footnote 10 below.
10 Insurance vendors obtain renewal invoices, create disbursement transactions and submit payments to payees.
As to one such vendor, see Exhibit D.


</Table>


(page)


EXHIBIT B
to
Wells Fargo Bank, N.A.'s
2006 Certification Regarding Compliance With Applicable Servicing Criteria

Wells Fargo Bank, N.A. ("Wells Fargo") acknowledges the following material
instances of noncompliance with the applicable servicing criteria:

1. 1122(d)(3)(i) - Delinquency Reporting - For certain loans sub-serviced by
   Wells Fargo or for which servicing rights were acquired on a bulk-acquisition
   basis, Wells Fargo determined that it provided incomplete data to some third
   parties who use such data to calculate delinquency ratios and determine the
   status of loans with respect to bankruptcy, foreclosure or real estate owned.
   The incomplete reporting only affected securitizations that included
   delinquent loans. Instead of the actual due date being provided for use in
   calculating delinquencies, the date of the first payment due to the security
   was provided. Wells Fargo subsequently included additional data in the
   monthly remittance reports, providing the actual borrower due date and unpaid
   principal balance, together with instructions to use these new fields if such
   monthly remittance reports are used to calculate delinquency ratios.

2. 1122(d)(4)(vii) - Notification of Intent to Foreclose  - Wells Fargo
   determined that, as required by certain servicing agreements, it did not
   provide investors with prior notification of intent to foreclose. While
   investors received monthly delinquency status reports that listed loans in
   foreclosure, such reports were received after such loans had been referred to
   an attorney. A new process is being implemented to send such notifications if
   contractually required, unless an investor opts out in writing.


(page)


EXHIBIT C
to
Wells Fargo Bank, N.A.'s
2006 Certification Regarding Compliance With Applicable Servicing Criteria


Report or Independent Registered Public Accounting Firm


(page)


EXHIBIT D
to
Wells Fargo Bank, N.A.'s
2006 Certification Regarding Compliance With Applicable Servicing Criteria


Vendors' Reports on Assessment of Compliance With Servicing Criteria





EX-33 (j)
(logo) WELLS FARGO

Corporate Trust Services
9062 Old Annapolis Road
Columbia, MD 21045-1951
410 884-2000
410 715-2380 Fax

Wells Fargo Bank, N.A.

ASSESSMENT OF COMPLIANCE WITH APPLICABLE SERVICING CRITERIA

Corporate Trust Services division of Wells Fargo Bank, National Association (the
"Company") provides this assessment of compliance with the following applicable
servicing criteria set forth in Item 1122(d) of Regulation AB promulgated by
the Securities and Exchange Commission. Management has determined that the
servicing criteria are applicable in regards to the servicing platform for the
period as follows:

Platform: Publicly-issued (i.e., transaction-level reporting initially required
under the Securities Exchange Act of 1934, as amended) residential
mortgage-backed securities, commercial mortgage-backed securities and other
asset-backed securities, for which the Company provides master servicing,
trustee, securities administration or paying agent services, excluding
transactions issued by any agency or instrumentality of the U.S. government or
any government sponsored entity (the "Platform").

Applicable Servicing Criteria: All servicing criteria set forth in Item 1122(d),
to the extent required in the related transaction agreements or required by the
Item 1122(d) servicing criteria in regards to the activities performed by the
Company, except for the following criteria: 1122(d)(1)(iii), 1122(d)(4)(ii),
1122(d)(4)(iv), 1122(d)(4)(v), 1122(d)(4)(viii), 1122(d)(4)(ix), 1122(d)(4)(x),
1122(d)(4)(xi), 1122(d)(4)(xii) and 1122(d)(4)(xiii), which management has
determined are not applicable to the activities the Company performs with
respect to the Platform (the "Applicable Servicing Criteria").

Period: Twelve months ended December 31, 2006 (the "Period").

Third parties classified as vendors: With respect to servicing criteria
1122(d)(4)(i), the Company has engaged various vendors to handle certain Uniform
Commercial Code filing functions required by the servicing criteria ("vendors").
The Company has determined that none of the vendors is a "servicer" as defined
in Item 1101(j) of Regulation AB, and the Company elects to take responsibility
for assessing compliance with the portion of the servicing criteria applicable
to each vendor as permitted by Interpretation 17.06 of the SEC Division of
Corporation Finance Manual of Publicly Available Telephone Interpretations
("Interpretation 17.06"). The Company has policies and procedures in place to
provide reasonable assurance that each vendor's activities comply in all
material respects with the servicing criteria applicable to each vendor. The
Company is solely responsible for determining that it meets the SEC requirements
to apply Interpretation 17.06 for the vendors and related criteria.

With respect to the Platform and the Period, the Company provides the following
assessment of compliance with respect to the Applicable Servicing Criteria:

1. The Company is responsible for assessing its compliance with the Applicable
Servicing Criteria.

2. The Company has assessed compliance with the Applicable Servicing Criteria,
including servicing criteria for which compliance is determined based on
Interpretation 17.06 as described above, as of and for the Period. In performing
this assessment, management used the criteria set forth by the Securities and
Exchange Commission in paragraph (d) of Item 1122 of Regulation AB.

3. Other than as identified on Schedule A hereto, as of and for the Period, the
Company was in material compliance with the Applicable Servicing Criteria. Any
material instances of noncompliance by a vendor of which the Company is aware
and any material deficiency in the Company's policies and procedures to monitor
vendors' compliance that the Company has identified is specified on Schedule A
hereto.

KPMG LLP, a registered public accounting firm, has issued an attestation
report with respect to the Company's foregoing assessment of compliance as of
and for the Period.

WELLS FARGO BANK, NATIONAL ASSOCIATION

By:/s/ Brian Bartlett
Brian Bartlett

Its:   Executive Vice President

Dated: March 1, 2007


(page)


(logo) WELLS FARGO

Corporate Trust Services
9062 Old Annapolis Road
Columbia, MD 21045-1951
410 884-2000
410 715-2380 Fax

Wells Fargo Bank, N.A.

Schedule A

Material Instances of Noncompliance by the Company

1122(d)(3)(i)- Delinquency Reporting - During the reporting period, certain
monthly investor or remittance reports included errors in the calculation and/or
the reporting of delinquencies for the pool assets, which errors may or may not
have been material. All such errors were the result of data processing errors
and/or the mistaken interpretation of data provided by other parties
participating in the servicing function. All necessary adjustments to data
processing systems and/or interpretive clarifications have been made to correct
those errors and to remedy related procedures.

Material instances of Noncompliance by any Vendor

NONE

Material Deficiencies In Company's Policies and Procedures to Monitor Vendors'
Compliance

NONE





EX-33 (k)
(logo) WELLS FARGO

Corporate Trust Services
9062 Old Annapolis Road
Columbia, MD 21045-1951
410 884-2000
410 715-2380 Fax

Wells Fargo Bank, N.A.

ASSESSMENT OF COMPLIANCE WITH APPLICABLE SERVICING CRITERIA

Corporate Trust Services division of Wells Fargo Bank, National Association (the
"Company") provides this assessment of compliance with the following applicable
servicing criteria set forth in Item 1122(d) of Regulation AB promulgated by
the Securities and Exchange Commission. Management has determined that the
servicing criteria are applicable in regards to the servicing platform for the
period as follows:

Platform: Publicly-issued (i.e., transaction-level reporting initially required
under the Securities Exchange Act of 1934, as amended) residential
mortgage-backed securities, commercial mortgage-backed securities and other
asset-backed securities, for which the Company provides master servicing,
trustee, securities administration or paying agent services, excluding
transactions issued by any agency or instrumentality of the U.S. government or
any government sponsored entity (the "Platform").

Applicable Servicing Criteria: All servicing criteria set forth in Item 1122(d),
to the extent required in the related transaction agreements or required by the
Item 1122(d) servicing criteria in regards to the activities performed by the
Company, except for the following criteria: 1122(d)(1)(iii), 1122(d)(4)(ii),
1122(d)(4)(iv), 1122(d)(4)(v), 1122(d)(4)(viii), 1122(d)(4)(ix), 1122(d)(4)(x),
1122(d)(4)(xi), 1122(d)(4)(xii) and 1122(d)(4)(xiii), which management has
determined are not applicable to the activities the Company performs with
respect to the Platform (the "Applicable Servicing Criteria").

Period: Twelve months ended December 31, 2006 (the "Period").

Third parties classified as vendors: With respect to servicing criteria
1122(d)(4)(i), the Company has engaged various vendors to handle certain Uniform
Commercial Code filing functions required by the servicing criteria ("vendors").
The Company has determined that none of the vendors is a "servicer" as defined
in Item 1101(j) of Regulation AB, and the Company elects to take responsibility
for assessing compliance with the portion of the servicing criteria applicable
to each vendor as permitted by Interpretation 17.06 of the SEC Division of
Corporation Finance Manual of Publicly Available Telephone Interpretations
("Interpretation 17.06"). The Company has policies and procedures in place to
provide reasonable assurance that each vendor's activities comply in all
material respects with the servicing criteria applicable to each vendor. The
Company is solely responsible for determining that it meets the SEC requirements
to apply Interpretation 17.06 for the vendors and related criteria.

With respect to the Platform and the Period, the Company provides the following
assessment of compliance with respect to the Applicable Servicing Criteria:

1. The Company is responsible for assessing its compliance with the Applicable
Servicing Criteria.

2. The Company has assessed compliance with the Applicable Servicing Criteria,
including servicing criteria for which compliance is determined based on
Interpretation 17.06 as described above, as of and for the Period. In performing
this assessment, management used the criteria set forth by the Securities and
Exchange Commission in paragraph (d) of Item 1122 of Regulation AB.

3. Other than as identified on Schedule A hereto, as of and for the Period, the
Company was in material compliance with the Applicable Servicing Criteria. Any
material instances of noncompliance by a vendor of which the Company is aware
and any material deficiency in the Company's policies and procedures to monitor
vendors' compliance that the Company has identified is specified on Schedule A
hereto.

KPMG LLP, a registered public accounting firm, has issued an attestation
report with respect to the Company's foregoing assessment of compliance as of
and for the Period.

WELLS FARGO BANK, NATIONAL ASSOCIATION

By:/s/ Brian Bartlett
Brian Bartlett

Its:   Executive Vice President

Dated: March 1, 2007


(page)


(logo) WELLS FARGO

Corporate Trust Services
9062 Old Annapolis Road
Columbia, MD 21045-1951
410 884-2000
410 715-2380 Fax

Wells Fargo Bank, N.A.

Schedule A

Material Instances of Noncompliance by the Company

1122(d)(3)(i)- Delinquency Reporting - During the reporting period, certain
monthly investor or remittance reports included errors in the calculation and/or
the reporting of delinquencies for the pool assets, which errors may or may not
have been material. All such errors were the result of data processing errors
and/or the mistaken interpretation of data provided by other parties
participating in the servicing function. All necessary adjustments to data
processing systems and/or interpretive clarifications have been made to correct
those errors and to remedy related procedures.

Material instances of Noncompliance by any Vendor

NONE

Material Deficiencies In Company's Policies and Procedures to Monitor Vendors'
Compliance

NONE





EX-33 (l)
(logo) WELLS FARGO

Corporate Trust Services
9062 Old Annapolis Road
Columbia, MD 21045-1951
410 884-2000
410 715-2380 Fax

Wells Fargo Bank, N.A.

ASSESSMENT OF COMPLIANCE WITH APPLICABLE SERVICING CRITERIA

Corporate Trust Services division of Wells Fargo Bank, National Association (the
"Company") provides this assessment of compliance with the following applicable
servicing criteria set forth in Item 1122(d) of Regulation AB promulgated by
the Securities and Exchange Commission. Management has determined that the
servicing criteria are applicable in regards to the servicing platform for the
period as follows:

Platform: Publicly-issued (i.e., transaction-level reporting initially required
under the Securities Exchange Act of 1934, as amended) residential
mortgage-backed securities, commercial mortgage-backed securities and other
asset-backed securities, for which the Company provides master servicing,
trustee, securities administration or paying agent services, excluding
transactions issued by any agency or instrumentality of the U.S. government or
any government sponsored entity (the "Platform").

Applicable Servicing Criteria: All servicing criteria set forth in Item 1122(d),
to the extent required in the related transaction agreements or required by the
Item 1122(d) servicing criteria in regards to the activities performed by the
Company, except for the following criteria: 1122(d)(1)(iii), 1122(d)(4)(ii),
1122(d)(4)(iv), 1122(d)(4)(v), 1122(d)(4)(viii), 1122(d)(4)(ix), 1122(d)(4)(x),
1122(d)(4)(xi), 1122(d)(4)(xii) and 1122(d)(4)(xiii), which management has
determined are not applicable to the activities the Company performs with
respect to the Platform (the "Applicable Servicing Criteria").

Period: Twelve months ended December 31, 2006 (the "Period").

Third parties classified as vendors: With respect to servicing criteria
1122(d)(4)(i), the Company has engaged various vendors to handle certain Uniform
Commercial Code filing functions required by the servicing criteria ("vendors").
The Company has determined that none of the vendors is a "servicer" as defined
in Item 1101(j) of Regulation AB, and the Company elects to take responsibility
for assessing compliance with the portion of the servicing criteria applicable
to each vendor as permitted by Interpretation 17.06 of the SEC Division of
Corporation Finance Manual of Publicly Available Telephone Interpretations
("Interpretation 17.06"). The Company has policies and procedures in place to
provide reasonable assurance that each vendor's activities comply in all
material respects with the servicing criteria applicable to each vendor. The
Company is solely responsible for determining that it meets the SEC requirements
to apply Interpretation 17.06 for the vendors and related criteria.

With respect to the Platform and the Period, the Company provides the following
assessment of compliance with respect to the Applicable Servicing Criteria:

1. The Company is responsible for assessing its compliance with the Applicable
Servicing Criteria.

2. The Company has assessed compliance with the Applicable Servicing Criteria,
including servicing criteria for which compliance is determined based on
Interpretation 17.06 as described above, as of and for the Period. In performing
this assessment, management used the criteria set forth by the Securities and
Exchange Commission in paragraph (d) of Item 1122 of Regulation AB.

3. Other than as identified on Schedule A hereto, as of and for the Period, the
Company was in material compliance with the Applicable Servicing Criteria. Any
material instances of noncompliance by a vendor of which the Company is aware
and any material deficiency in the Company's policies and procedures to monitor
vendors' compliance that the Company has identified is specified on Schedule A
hereto.

KPMG LLP, a registered public accounting firm, has issued an attestation
report with respect to the Company's foregoing assessment of compliance as of
and for the Period.

WELLS FARGO BANK, NATIONAL ASSOCIATION

By:/s/ Brian Bartlett
Brian Bartlett

Its:   Executive Vice President

Dated: March 1, 2007


(page)


(logo) WELLS FARGO

Corporate Trust Services
9062 Old Annapolis Road
Columbia, MD 21045-1951
410 884-2000
410 715-2380 Fax

Wells Fargo Bank, N.A.

Schedule A

Material Instances of Noncompliance by the Company

1122(d)(3)(i)- Delinquency Reporting - During the reporting period, certain
monthly investor or remittance reports included errors in the calculation and/or
the reporting of delinquencies for the pool assets, which errors may or may not
have been material. All such errors were the result of data processing errors
and/or the mistaken interpretation of data provided by other parties
participating in the servicing function. All necessary adjustments to data
processing systems and/or interpretive clarifications have been made to correct
those errors and to remedy related procedures.

Material instances of Noncompliance by any Vendor

NONE

Material Deficiencies In Company's Policies and Procedures to Monitor Vendors'
Compliance

NONE





EX-33 (m)
(logo) WELLS FARGO

Wells Fargo Bank, N.A.
Document Custody
1015 10th Avenue SE
Minneapolis, MN 55414


Appendix I


ASSESSMENT OF COMPLIANCE WITH APPLICABLE SERVICING CRITERIA

Corporate Trust Services division of Wells Fargo Bank, National Association
(the "Company") is responsible for assessing compliance with the servicing
criteria set forth in Item 1122(d) of Regulation AB promulgated by the
Securities and Exchange Commission. The Company has determined that the
servicing criteria are applicable in regard to the servicing platform for the
period as follows:

Platform: Publicly-issued (i.e., transaction-level reporting required under
the Securities Exchange Act of 1934, as amended) residential mortgage-backed
securities and commercial mortgage-backed securities issued on or after January
1, 2006, for which the Company provides document custody services, excluding any
publicly issued transactions issued by any government sponsored entity (the
"Platform").

Applicable Servicing Criteria: The servicing criteria set forth in Item
1122(d)(4)(i) and 1122(d)(4)(ii), in regard to the activities performed by the
Company with respect to the Platform (the "Applicable Servicing Criteria"). The
Company has determined that all other servicing criteria set forth in Item
1122(d) are not applicable to the Platform.

Period: Twelve months ended December 31, 2006 (the "Period").

With respect to the Platform, the Company provides the following
assessment of compliance with respect to the Applicable Servicing Criteria:

1. The Company is responsible for assessing the Company's compliance with
the Applicable Servicing Criteria as of and for the Period.

2. The Company has assessed compliance with the Applicable Servicing
Criteria. In performing this assessment, the Company used the criteria set forth
by the Securities and Exchange Commission in paragraph (d) of Item 1122 of
Regulation AB.

3. Based on such assessment, as of and for the Period, the Company has
complied, in all material respects with the Applicable Servicing Criteria.

KPMG LLP, a registered public accounting firm, has issued an attestation
report with respect to the Company's assessment of compliance as of and for the
Period.


WELLS FARGO BANK, NATIONAL ASSOCIATION

By: /s/ Shari L. Gillund
Shari L. Gillund

Its: Senior Vice President

Dated: March 1, 2007





EX-33 (n)
(logo) ZC STERLING

ZC Sterling Corporation
210 Interstate North Parkway
Suite 400
Atlanta, GA 30339

Tel 770.690.8400
Fax 770.690.8240
http://www.zcsterling.com


Report on Assessment of Compliance with Securities and Exchange
Commission's Regulation AB Servicing Criteria

For the calendar year ending December 31 2006, or portion thereof (the
"Period"), ZC Sterling Insurance Agency, Inc. ("ZCSIA") has been a subcontractor
for Servicers identified in Appendix A.

The undersigned are Senior Vice Presidents of ZCSIA, have sufficient authority
to make the statements contained in this Assertion and are responsible for
assessing compliance with the servicing criteria applicable to ZCSIA. ZCSIA has
used the servicing criteria communicated to ZCSIA by the Servicer to assess
compliance with the applicable servicing criteria. Accordingly, servicing
criteria 1122 (d) 1(iv), 1122 (d) 2(vi), 1122 (d) 4(xi), 1122 (d) 4(xii), and
1122 (d) 4(xiii) are applicable to the activities performed by ZCSIA with
respect to the Platforms covered by this report. The remaining servicing
criteria set forth in Item 1122 (d) of the Securities and Exchange Commission's
Regulation AB are not applicable to the activities performed by ZCSIA with
respect to the Platform covered by this report. As a subcontractor for Servicer,
ZCSIA has determined that it complied in all material respects with the
servicing criteria listed below. ZCSIA engaged Ernst & Young, LLP ("E&Y"), a
registered public accounting firm, to review ZCSIA's assessment, and E&Y has
issued an attestation report on ZCSIA's assessment of compliance with the
applicable servicing criteria for the Period.

1. ZCSIA maintained a fidelity bond and errors & omissions policy in effect on
ZCSIA throughout the reporting period in the amount of coverage required by the
transaction agreements between the Servicer and ZCSIA (1122(d)((1)(iv)).

2. To the extent that ZCSIA prints checks for Servicer or otherwise has
Servicer's checks or check stock, unissued checks are safeguarded so as to
prevent unauthorized access (1122(d)(2)(vi)). [AS OF DECEMBER 31, 2006, THIS
PROVISION WILL APPLY ONLY FOR THE FOLLOWING SERVICERS: ABN Amro Mortgage Group,
Inc, Option One Mortgage Corporation, Sun Trust Mortgage, Inc., HomEq Servicing
Corporation, Wachovia Insurance Corporation, Wells Fargo Home Mortgage.


(page)


3. Payments made on behalf of Servicer's obligor for insurance premiums are made
on or before the related penalty or expiration dates, as indicated on the
appropriate bills or notices for such payments, provided that such support has
been received by the Servicer at least thirty (30) calendar days prior to these
dates, or such other number of days specified in the transaction agreements
between Servicer and ZCSIA (1122(d)(4)(xi)).

4. Any late payment penalties in connection with any payment for insurance to be
made on behalf of Servicer's obligor are paid from the Servicer's funds or
ZCSIA's funds and not charged to Servicer's obligor, unless the late payment was
due to the obligor's error or omission (1122(d)(4)(xii)).

5. File(s) provided to Servicer from which Servicer may make disbursements made
on behalf of Servicer's obligor are provided to Servicer on an accurate and
timely basis and the information thereon is subject to such controls as are
specified in the transaction agreements between Servicer and ZCSIA
(1122(d)(4)(xiii)).

Sincerely,
ZC STERLING INSURANCE AGENCY, INC.

By: /s/ Arthur J. Castner
Arthur J. Castner

Title: Senior Vice President - Hazard Operations

Date: February 20, 20007

By: /s/ James P. Novak
James P. Novak

Title: Senior Vice President & General Counsel

Date: February 20, 2007



2


(page)


Appendix A
The following is a list of Clients serviced on the ZC Sterling Integrated
Product Solution (ZIPS) Platform:

1. ABN Amro Mortgage Group, Inc.
2. Dovenmuehle Mortgage, Inc.
3. HomEq Servicing Corporation
4. Option One Mortgage Corporation
5. People's Choice Home Loan, Inc.
6. Sun Trust Mortgage, Inc.
7. Wachovia Insurance Agency (and its affiliates, including Wachovia Mortgage
   Corporation)
8. Wells Fargo Home Mortgage



3





EX-34 (a)
(logo) PRICEWATERHOUSECOOPERS

PricewaterhouseCoopers LLP
10 Tenth Street, Northwest
Suite 1400
Atlanta, GA 30309-3851
Telephone (678) 419 1000
Fascimile (678) 419 1239
www.pwc.com


Report of Independent Registered Public Accounting Firm

To the Shareholders and the Board of Directors of
Assurant, Inc.:


We have examined management's assertion, included in the accompanying
management's Report on Assessment of Compliance with 1122(d)(2)(vi) and
1122(d)(4)(xi) of Regulation AB Servicing Criteria, that American Security
Insurance Company, Standard Guaranty Insurance Company and Safeco Financial
Institution Solutions, Inc. (affiliates of Assurant Inc., collectively the
"Asserting Party") complied with the servicing criteria set forth in Item
1122(d) of the Securities and Exchange Commission's Regulation AB for all
mortgage loan-tracking transactions for which the Asserting Party served as a
Vendor on behalf of Servicers for such asset-backed securities transactions that
were registered after January 1, 2006 with the Securities and Exchange
Commission pursuant to the Securities Act of 1933 (the "Platform"), as of
December 31, 2006 and for the year then ended, excluding (i) criteria
1122(d)(1)(i) through 1122(d)(1)(iv), 1122(d)(2)(i) through 1122(d)(2)(v),
1122(d)(2)(vii), 1122(d)(3)(i) through 1122(d)(3)(iv), 1122(d)(4)(i) through
1122(d)(4)(x) and 1122(d)(4)(xiii) through 1122(d)(4)(xv), which the Asserting
Party has determined are not applicable to the activities performed by it with
respect to the Platform and (ii), criterion 1122(d)(4)(xii), which relates to
servicing activities that are applicable to the Platform, but are excluded from
the scope of management's assertion and are not reported on herein. Management
is responsible for the Company's compliance with the servicing criteria. Our
responsibility is to express an opinion on management's assertion based on our
examination.

Our examination was conducted in accordance with standards of 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 and performing such other procedures as we considered
necessary in the circumstances. Our examination included testing of selected
asset-backed transactions and securities that comprise the Platform, testing of
selected servicing activities related to the Platform, and determining whether
the Company processed those selected transactions and performed those selected
activities in compliance with the applicable servicing criteria. Our procedures
were limited to the selected transactions and servicing activities performed by
the Company during the period covered by this report. Our procedures were not
designed to detect noncompliance arising from errors that may have occurred
prior to or subsequent to our tests that may


1


(page)


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.

In our opinion, management's assertion that the Asserting Party complied with
the aforementioned applicable servicing criteria as of and for the year ended
December 31, 2006 for the Platform is fairly stated, in all material respects.

/s/ Pricewaterhousecoopers LLP

Atlanta, Georgia
February 23, 2007


2





EX-34 (b)
(logo) KPMG

KPMG LLP
303 East Wacker Drive
Chicago, IL 60601-5212


Report of Independent Registered Public Accounting Firm


The Board of Directors
The Trust & Securities Services department of Deutsche Bank National Trust
Company and Deutsche Bank Trust Company Americas:

We have examined management's assertion, included in the accompanying Appendix
I, that the Trust & Securities Services department of Deutsche Bank National
Trust Company and Deutsche Bank Trust Company Americas (collectively the
"Company") complied with the servicing criteria set forth in Item 1122(d) of the
Securities and Exchange Commission's Regulation AB for publicly-issued (i.e.,
transaction-level reporting required under the Securities Exchange Act of 1934,
as amended) residential mortgage-backed securities and other asset-backed
securities issued on or after January 1, 2006, for which the Company provides
trustee, securities administration or paying agent services, excluding any
publicly issued transactions, sponsored or issued by any government sponsored
entity (the Platform), except for servicing criteria 1122(d)(2)(iii),
1122(d)(4)(iv), 1122(d)(4)(v), 1122(d)(4)(vi), 1122(d)(4)(vii), 1122(d)(4)
(viii), 1122(d)(4)(ix), 1122(d)(4)(x), 1122(d)(4)(xi), 1122(d)(4)(xii), 1122(d)
(4)(xiii) and 1122(d)(4)(xiv ), which the Company has determined are not
applicable to the activities it performs with respect to the Platform, as of
and for the twelve months ended December 31, 2006. Management is responsible
for the Company's compliance with those servicing criteria. Our responsibility
is to express an opinion on management's assertion about the Company's
compliance based on our examination.

Our examination was conducted in accordance with the standards of the Public
Company Accounting Oversight Board (United States) and, accordingly,included
examining, on a test basis, evidence about the Company's compliance with the
servicing criteria specified above and performing such other procedures as we
considered necessary in the circumstances. Our examination included testing of
less than all of the individual asset-backed transactions and securities that
comprise the Platform, testing of less than all of the servicing activities
related to the Platform, and determining whether the Company processed those
selected transactions and performed those selected activities in compliance
with the servicing criteria. Furthermore, our procedures were limited to the
selected transactions and servicing activities performed by the Company during
the period covered by this report. Our procedures were not designed to
determine whether errors may have occurred either prior to or subsequent to our
tests that may have affected the balances or amounts calculated or reported by
the Company during the period covered by this report for the selected
transactions or any other transactions. 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 included in the accompanying Appendix I,
for servicing criteria 1122 (d)(2)(i), 1122 (d)(4)(i) and 1122(d)(4)(ii), the
Company has engaged various vendors to perform the activities required by these
servicing criteria. The Company has determined that these vendors are 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 each vendor as permitted by Interpretation
17.06 of the SEC


(page)


(logo) KPMG


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 vendors' activities comply in all
material respects with the servicing criteria applicable to each vendor. The
Company is solely responsible for determining that it meets the SEC
requirements to apply Interpretation 17.06 for the vendors and related criteria
as described in its assertion, and we performed no procedures with respect to
the Company's eligibility to apply Interpretation 17.06.

In our opinion, management's assertion that the Company complied with the
aforementioned servicing criteria, including servicing criteria 1122 (d)(2)(i),
1122 (d)(4)(i) and 1122(d)(4)(ii) for which compliance is determined based on
Interpretation 17.06 as described above, as of and for the twelve months ended
December 31, 2006 is fairly stated, in all material respects.


/s/ KPMG LLP

Chicago, Illinois
February 28, 2007


KPMG LLP, a U.S. limited liability partnership, is the U.S.
member firm of KPMG International, a Swiss cooperative.





EX-34 (c)
(logo) PRICEWATERHOUSECOOPERS

PricewaterhouseCoopers LLP
Suite 1800
2001 Ross Ave.
Dallas TX 75201-2997
Telephone (214) 999 1400
Facsimile (214) 754 7991
www.pwc.com


Report of Independent Registered Public Accounting Firm

To the Board of Directors of The First American Corporation:

We have examined First American Real Estate Solutions of Texas, L.P.'s (the
"Company" and an indirect subsidiary of The First American Corporation),
compliance with the servicing criteria set forth in Item 1122(d) of the
Securities and Exchange Commission's Regulation AB for all loans for residential
mortgage loan outsourcing customers for which the Company served as the
residential tax service provider (the "Platform") described in the accompanying
Report on Assessment of Compliance, as of December 31, 2006 and for the year
then ended, excluding criteria 1122(d)(1)(i)-(iii), 1122(d)(2)(i)-(iv),
1122(d)(3)(i)-(iv), 1122(d)(4)(i)-(x) and 1122(d)(4)(xiv)-(xv), which the
Company has determined are not applicable to the servicing activities performed
by it 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 standards of 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 and performing such other procedures as we considered
necessary in the circumstances. Our examination included testing of selected
securities that comprise the Platform, testing of selected servicing activities
related to the Platform, and determining whether the Company processed those
selected transactions and performed those selected activities in compliance with
the applicable servicing criteria. Our procedures were limited to the selected
transactions and servicing activities performed by the Company during the period
covered by this report. Our procedures were not designed to detect noncompliance
arising from errors that may have occurred prior to or subsequent to our tests
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.

Our examination disclosed the following material instance of noncompliance with
the servicing criteria set forth in Item 1122(d)(2)(vii)(B) of Regulation AB
applicable to the Company during year ended December 31, 2006. Account
reconciliations for all asset-backed securities related bank accounts were not
prepared within 30 calendar days after the bank statement cutoff date, or such
other number of days specified in the transaction agreements as required by Item
1122(d)(2)(vii)(B) of Regulation AB.

In our opinion, except for the material instance of noncompliance described in
the preceding paragraph, First American Real Estate Solutions of Texas, L.P.
complied with the aforementioned applicable servicing criteria as of and for the
year ended December 31, 2006 for all loans for residential mortgage loan
outsourcing customers for which the Company served as the residential tax
service provider, in all material respects.

/s/ Pricewaterhousecoopers LLP

February 28, 2007





EX-34 (d)
EXHIBIT C

(logo) Grant Thornton

Accountants and Business Advisors


REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


Board of Directors and Shareholders
LandAmerica Tax and Flood Services, Inc.

We have examined management's assertion, included in the accompanying Report on
Assessment of Compliance with Regulation AB Servicing Criteria ("Management's
Report"), that LandAmerica Tax and Flood Services, Inc. (the "Company") complied
with the servicing criteria set forth in Item 1122(d) of the U.S. Securities and
Exchange Commission's Regulation AB for the residential mortgage backed
securities for which the Company served as third-party property tax payment
provider on the underlying collateral (the "Platform") as of and for the year
ended December 31, 2006, excluding criteria 1122(d)(1)(i)-(iv),
1122(d)(2)(i)-(vii), 1122(d)(3)(i)-(iv), 1122(d)(4)(i)-(x) and
1122(d)(4)(xiii)-(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 applicable servicing criteria.
Our responsibility is to express an opinion on management's assertion about the
Company's compliance with the applicable servicing criteria for the Platform
based on our examination.

Our examination was conducted in accordance with the standards of 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 for the Platform and performing such other
procedures as we considered necessary in the circumstances. Our examination
included testing selected asset-backed transactions and securities constituting
the Platform and evaluating whether the Company performed servicing activities
related to those transactions and securities in compliance with the applicable
servicing criteria for the period covered by this report. Accordingly, our
testing may not have included servicing activities related to each asset-backed
transaction or security constituting the Platform. Further, our examination was
not designed to detect material noncompliance that may have occurred prior to
the period covered by this report and that may have affected the Company's
servicing activities 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
applicable servicing criteria.

In our opinion, management's assertion that LandAmerica Tax and Flood Services,
Inc. complied with the aforementioned applicable servicing criteria as of and
for the year ended December 31, 2006 is fairly stated, in all material respects.

/s/ Grant Thornton LLP

Irvine, CA
February 20, 2007


18400 Von Karman Avenue
Suite 900
Irvine, CA 92612-0525
T 949.553.1600
F 949.553.0168
W www.grantthornton.com

Grant Thornton LLP
US member of Grant Thornton International





EX-34 (e)
(logo) Crowe
Crowe Chizek and Company LLC
Member Horwath International




REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM



Audit Committee
Ocwen Loan Servicing, LLC
West Palm Beach, Florida


We have examined management's assertion, included in the accompanying report,
that Ocwen Loan Servicing, LLC (the Company) complied with the servicing
criteria set forth in Item 1122(d) of the U.S. Securities and Exchange
Commission's Regulation AB for the Residential Mortgage Loans Platform (the
"Platform") as of and for the year ended December 31, 2006, excluding criteria
1122(1)(iii) and 1122(4)(xv), which management has determined are not applicable
to the activities performed by the Company with respect to the Platform. The
Platform consists of the asset-backed transactions and securities defined by
management in Appendix B of Management's Report. Management is responsible for
the Company's compliance with those minimum servicing standards. Our
responsibility is to express an opinion on management's assertion about the
Company's compliance based on our examination.

Our examination was conducted in accordance with the 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 for the Platform and performing such other
procedures as we considered necessary in the circumstances. Our examination
included testing selected asset-backed transactions and securities constituting
the Platform and evaluating whether the Company performed servicing activities
related to those transactions and securities in compliance with the applicable
servicing criteria for the period covered by this report. Accordingly, our
testing may not have included servicing activities related to each asset-backed
transaction or security constituting the Platform. Further, our examination was
not designed to detect material noncompliance that may have occurred prior to
the period covered by this report and that may have affected the Company's
servicing activities 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
applicable servicing criteria.

In our opinion, management's assertion referred to above is fairly stated, in
all material respects, based on the aforementioned applicable servicing
criteria.


/s/ Crowe Chizek and Company LLC
Crowe Chizek and Company LLC


Fort Lauderdale, Florida
March 8, 2007





EX-34 (f)
(logo) KPMG

KPMG LLP
1601 Market Street
Philadelphia, PA 19103-2499

Report of Independent Registered Public Accounting Firm

The Board of Members
Regulus Group LLC:

We have examined management's assessment for those customers that management has
informed us have requested confirmation of compliance, included in the
accompanying Report on Assessment of Compliance with Regulation AB Servicing
Criteria, that Regulus Group LLC complied with the servicing criteria set forth
in Item 1122(d)(2)(i) and 1122(d)(4)(iv) of the Securities and Exchange
Commission's Regulation AB for remittance processing services to those issuers
of asset backed securities and servicers of loan and/or receivables portfolios
that include pool assets for asset backed securities transactions (the Platform)
as of and for the year ended December 31, 2006. Regulus Group LLC has determined
that the remainder of the servicing criteria are not applicable to the
activities it performs with respect to the Platform as of and for the year ended
December 31, 2006. Management is responsible for the Company's compliance with
those servicing criteria. Our responsibility is to express an opinion on
management's assessment about the Company's compliance based on our examination.

Our examination was conducted in accordance with the standards of the Public
Company Accounting Oversight Board (United States) and, accordingly, included
examining, on a test basis, evidence about the Company's compliance with the
servicing criteria specified above and performing such other procedures as we
considered necessary in the circumstances. Our examination included testing of
less than all of the individual asset-backed transactions and securities that
comprise the Platform, testing of less than all of the servicing activities
related to the Platform, and determining whether the Company processed those
selected transactions and performed those selected activities in compliance with
the servicing criteria. Furthermore, our procedures were limited to the selected
transactions and servicing activities performed by the Company during the period
covered by this report. Our procedures were not designed to determine whether
errors may have occurred either prior to or subsequent to our tests that may
have affected the balances or amounts calculated or reported by the Company
during the period covered by this report for the selected transactions or any
other transactions. 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.

In our opinion, management's assessment that the Company complied with the
aforementioned servicing criteria as of and for the year ended December 31, 2006
is fairly stated, in all material respects.

/s/ KPMG LLP

Philadelphia, PA
February 22, 2007

KPMG LLP, a U.S. limited liability partnership, is the U.S. member firm of KPMG
International, a Swiss cooperative.





EX-34 (g)
(logo) KPMG

KPMG LLP
1601 Market Street
Philadelphia, PA 19103-2499


Report of Independent Registered Public Accounting Firm

The Board of Members
Regulus Group LLC:

We have examined management's assessment for those customers that
management has informed us have requested confirmation of compliance, included
in the accompanying Report on Assessment of Compliance with Regulation AB
Servicing Criteria, that Regulus Group LLC complied with the servicing criteria
set forth in Item 1122(d)(2)(i) and 1122(d)(4)(iv) of the Securities and
Exchange Commission's Regulation AB for remittance processing services to those
issuers of asset backed securities and servicers of loan and/or receivables
portfolios that include pool assets for asset backed securities transactions
(the Platform) as of and for the year ended December 31, 2006. Regulus Group LLC
has determined that the remainder of the servicing criteria are not applicable
to the activities it performs with respect to the Platform as of and for the
year ended December 31, 2006. Management is responsible for the Company's
compliance with those servicing criteria. Our responsibility is to express an
opinion on management's assessment about the Company's compliance based on our
examination.

Our examination was conducted in accordance with the standards of the
Public Company Accounting Oversight Board (United States) and, accordingly,
included examining, on a test basis, evidence about the Company's compliance
with the servicing criteria specified above and performing such other procedures
as we considered necessary in the circumstances. Our examination included
testing of less than all of the individual asset-backed transactions and
securities that comprise the Platform, testing of less than all of the servicing
activities related to the Platform, and determining whether the Company
processed those selected transactions and performed those selected activities in
compliance with the servicing criteria. Furthermore, our procedures were limited
to the selected transactions and servicing activities performed by the Company
during the period covered by this report. Our procedures were not designed to
determine whether errors may have occurred either prior to or subsequent to our
tests that may have affected the balances or amounts calculated or reported by
the Company during the period covered by this report for the selected
transactions or any other transactions. 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.

In our opinion, management's assessment that the Company complied with the
aforementioned servicing criteria as of and for the year ended December 31, 2006
is fairly stated, in all material respects.


/s/ KPMG LLP


Philadelphia, PA
February 22, 2007


KPMG LLP, a U.S. limited liability partnership, is the U.S.
member firm of KPMG International, a Swiss cooperative.





EX-34 (h)
(logo) KPMG

KPMG LLP
2500 Ruan Center
666 Grand Avenue
Des Moines, IA 50309


Report of Independent Registered Public Accounting Firm

The Board of Directors
Wells Fargo Bank, N.A.:

We have examined Wells Fargo Bank, N.A.'s (the Company) compliance with the
servicing criteria set forth in Item 1122(d) of the Securities and Exchange
Commission's Regulation AB for its primary servicing of residential mortgage
loans by its Wells Fargo Home Mortgage division, other than the servicing of
such loans for Freddie Mac, Fannie Mae, Ginnie Mae, state and local government
bond programs, or a Federal Home Loan Bank (the Platform), except for servicing
criteria 1122(d)(1)(iii) and 1122(d)(4)(xv), which the Company has determined
are not applicable to the activities it performs with respect to the Platform,
as of and for the year ended December 31, 2006. Management is responsible for
the Company's compliance with those servicing criteria. Our responsibility is to
express an opinion on the Company's compliance based on our examination.

Our examination was conducted in accordance with the standards of the Public
Company Accounting Oversight Board (United States) and, accordingly, included
examining, on a test basis, evidence about the Company's compliance with the
servicing criteria specified above and performing such other procedures as we
considered necessary in the circumstances. Our examination included testing of
less than all of the individual asset-backed transactions and securities that
comprise the Platform, testing of less than all of the servicing activities
related to the Platform, and determining whether the Company processed those
selected transactions and performed those selected activities in compliance with
the servicing criteria. Furthermore, our procedures were limited to the selected
transactions and servicing activities performed by the Company during the period
covered by this report. Our procedures were not designed to determine whether
errors may have occurred either prior to or subsequent to our tests that may
have affected the balances or amounts calculated or reported by the Company
during the period covered by this report for the selected transactions or any
other transactions. 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.

Our examination disclosed the following instances of material noncompliance with
certain servicing criteria applicable to the Company during the year ended
December 31, 2006:

1. 1122(d)(3)(i) - Delinquency Reporting - The Company provided incomplete data
   to some third parties who use such data to calculate delinquency ratios and
   determine the status of loans with respect to bankruptcy, foreclosure or real
   estate owned. Instead of the actual due date being provided for use in
   calculating delinquencies, the date of the first payment due to the security
   was provided.

2. 1122(d)(4)(vii) - Notification of Intent to Foreclose - The Company, as
   required by certain servicing agreements, did not provide investors with
   prior notification of intent to foreclose.


(page)


(logo) KPMG

As described in the accompanying 2006 Certification Regarding Compliance with
Applicable Servicing Criteria, for servicing criteria 1122(d)(2)(i),
1122(d)(2)(vi), 1122(d)(4)(iv), 1122(d)(4)(xi), and 1122(d)(4)(xiii), the
Company has engaged various vendors to perform the activities required by these
servicing criteria. The Company has determined that these vendors are not
considered "servicers" 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 each vendor as permitted by Interpretation
17.06 of the SEC Division of Corporation Finance Manual of Publicly Available
Telephone Interpretations ("Interpretation 17.06"), with the exception of those
vendors who have provided their own reports on assessment of compliance with
servicing criteria to the Company, for which the Company does not take such
responsibility. 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 vendors' activities comply in all material respects with the
servicing criteria applicable to each vendor. The Company is solely responsible
for determining that it meets the SEC requirements to apply Interpretation 17.06
for the vendors and related criteria as described in its assertion, and we
performed no procedures with respect to the Company's eligibility to apply
Interpretation 17.06.


In our opinion, except for the instances of material noncompliance described
above, the Company complied, in all material respects, with the aforementioned
servicing criteria as of and for the year ended December 31, 2006.


/s/ KPMG LLP

Des Moines, Iowa
March 1, 2007


KPMG LLP, a U.S. limited liability partnership, is the U.S.
member firm of KPMG International, a Swiss cooperative.





EX-34 (i)
(logo) KPMG

KPMG LLP
303 East Wacker Drive
Chicago, IL 60801-5212

Report of Independent Registered Public Accounting Firm

The Board of Directors
The Corporate Trust Services division of Wells Fargo Bank, National Association:

We have examined the compliance of the Corporate Trust Services division of
Wells Fargo Bank, National Association (the Company) with the servicing criteria
set forth in Item 1122(d) of the Securities and Exchange Commission's Regulation
AB for publicly-issued (i.e., transaction-level reporting initially required
under the Securities Exchange Act of 1934, as amended) residential
mortgage-backed securities, commercial mortgage-backed securities and other
asset-backed securities, for which the Company provides master servicing,
trustee, securities administration or paying agent services, excluding
transactions issued by any agency or instrumentality of the U.S. government or
any government sponsored entity (the Platform), except for servicing criteria
1122(d)(1)(iii), 1122(d)(4)(ii), 1122(d)(4)(iv), 1122(d)(4)(v),
1122(d)(4)(viii), 1122(d)(4)(ix), 1122(d)(4)(x), 1122(d)(4)(xi),
1122(d)(4)(xii) and 1122(d)(4)(xiii), which the Company has determined are not
applicable to the activities it performs with respect to the Platform, as of and
for the twelve months ended December 31, 2006. Management is responsible for the
Company's compliance with those servicing criteria. Our responsibility is to
express an opinion on management's assertion about the Company's compliance
based on our examination.

Our examination was conducted in accordance with the standards of the Public
Company Accounting Oversight Board (United States) and, accordingly, included
examining, on a test basis, evidence about the Company's compliance with the
servicing criteria specified above and performing such other procedures as we
considered necessary in the circumstances. Our examination included testing of
less than all of the individual asset-backed transactions and securities that
comprise the Platform, testing of less than all of the servicing activities
related to the Platform, and determining whether the Company processed those
selected transactions and performed those selected activities in compliance with
the servicing criteria. Furthermore, our procedures were limited to the selected
transactions and servicing activities performed by the Company during the period
covered by this report. Our procedures were not designed to determine whether
errors may have occurred either prior to or subsequent to our tests that may
have affected the balances or amounts calculated or reported by the Company
during the period covered by this report for the selected transactions or any
other transactions. 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 the accompanying management's Assessment of Compliance With
Applicable Servicing Criteria, for servicing criteria 1122(d)(4)(i), the Company
has engaged various vendors to perform the activities required by these
servicing criteria. The Company has determined that these vendors are 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 each 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

KPMG LLP, a U.S. limited liability partnership, in the U.S. member firm
of KPMG International, a Swiss cooperative.

(page)

(logo) KPMG

procedures in place designed to provide assurance that the vendors' activities
comply in all material respects with the servicing criteria applicable to each
vendor. The Company is solely responsible for determining that it meets the SEC
requirements to apply Interpretation 17.06 for the vendors and related criteria
as described in its assertion, and we performed no procedures with respect to
the Company's eligibility to apply Interpretation 17.06.

Our examination disclosed material noncompliance with criterion 1122(d)(3)(i),
as applicable to the Company during the twelve months ended December 31, 2006.
Certain monthly investor or remittance reports included errors in the
calculation and/or the reporting of delinquencies for the pool assets.

In our opinion, except for the material non-compliance described above, the
Company complied, in all material respects, with the aforementioned servicing
criteria, including servicing criteria for which compliance is determined based
on Interpretation 17.06 as discussed above, as of and for the twelve months
ended December 31, 2006.

/s/ KPMG LLP

Chicago, IL 60601
March 1, 2007





EX-34 (j)
(logo) KPMG

KPMG LLP
303 East Wacker Drive
Chicago, IL 60801-5212

Report of Independent Registered Public Accounting Firm

The Board of Directors
The Corporate Trust Services division of Wells Fargo Bank, National Association:

We have examined the compliance of the Corporate Trust Services division of
Wells Fargo Bank, National Association (the Company) with the servicing criteria
set forth in Item 1122(d) of the Securities and Exchange Commission's Regulation
AB for publicly-issued (i.e., transaction-level reporting initially required
under the Securities Exchange Act of 1934, as amended) residential
mortgage-backed securities, commercial mortgage-backed securities and other
asset-backed securities, for which the Company provides master servicing,
trustee, securities administration or paying agent services, excluding
transactions issued by any agency or instrumentality of the U.S. government or
any government sponsored entity (the Platform), except for servicing criteria
1122(d)(1)(iii), 1122(d)(4)(ii), 1122(d)(4)(iv), 1122(d)(4)(v),
1122(d)(4)(viii), 1122(d)(4)(ix), 1122(d)(4)(x), 1122(d)(4)(xi),
1122(d)(4)(xii) and 1122(d)(4)(xiii), which the Company has determined are not
applicable to the activities it performs with respect to the Platform, as of and
for the twelve months ended December 31, 2006. Management is responsible for the
Company's compliance with those servicing criteria. Our responsibility is to
express an opinion on management's assertion about the Company's compliance
based on our examination.

Our examination was conducted in accordance with the standards of the Public
Company Accounting Oversight Board (United States) and, accordingly, included
examining, on a test basis, evidence about the Company's compliance with the
servicing criteria specified above and performing such other procedures as we
considered necessary in the circumstances. Our examination included testing of
less than all of the individual asset-backed transactions and securities that
comprise the Platform, testing of less than all of the servicing activities
related to the Platform, and determining whether the Company processed those
selected transactions and performed those selected activities in compliance with
the servicing criteria. Furthermore, our procedures were limited to the selected
transactions and servicing activities performed by the Company during the period
covered by this report. Our procedures were not designed to determine whether
errors may have occurred either prior to or subsequent to our tests that may
have affected the balances or amounts calculated or reported by the Company
during the period covered by this report for the selected transactions or any
other transactions. 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 the accompanying management's Assessment of Compliance With
Applicable Servicing Criteria, for servicing criteria 1122(d)(4)(i), the Company
has engaged various vendors to perform the activities required by these
servicing criteria. The Company has determined that these vendors are 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 each 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

KPMG LLP, a U.S. limited liability partnership, in the U.S. member firm
of KPMG International, a Swiss cooperative.

(page)

(logo) KPMG

procedures in place designed to provide assurance that the vendors' activities
comply in all material respects with the servicing criteria applicable to each
vendor. The Company is solely responsible for determining that it meets the SEC
requirements to apply Interpretation 17.06 for the vendors and related criteria
as described in its assertion, and we performed no procedures with respect to
the Company's eligibility to apply Interpretation 17.06.

Our examination disclosed material noncompliance with criterion 1122(d)(3)(i),
as applicable to the Company during the twelve months ended December 31, 2006.
Certain monthly investor or remittance reports included errors in the
calculation and/or the reporting of delinquencies for the pool assets.

In our opinion, except for the material non-compliance described above, the
Company complied, in all material respects, with the aforementioned servicing
criteria, including servicing criteria for which compliance is determined based
on Interpretation 17.06 as discussed above, as of and for the twelve months
ended December 31, 2006.

/s/ KPMG LLP

Chicago, IL 60601
March 1, 2007





EX-34 (k)
(logo) KPMG

KPMG LLP
303 East Wacker Drive
Chicago, IL 60801-5212

Report of Independent Registered Public Accounting Firm

The Board of Directors
The Corporate Trust Services division of Wells Fargo Bank, National Association:

We have examined the compliance of the Corporate Trust Services division of
Wells Fargo Bank, National Association (the Company) with the servicing criteria
set forth in Item 1122(d) of the Securities and Exchange Commission's Regulation
AB for publicly-issued (i.e., transaction-level reporting initially required
under the Securities Exchange Act of 1934, as amended) residential
mortgage-backed securities, commercial mortgage-backed securities and other
asset-backed securities, for which the Company provides master servicing,
trustee, securities administration or paying agent services, excluding
transactions issued by any agency or instrumentality of the U.S. government or
any government sponsored entity (the Platform), except for servicing criteria
1122(d)(1)(iii), 1122(d)(4)(ii), 1122(d)(4)(iv), 1122(d)(4)(v),
1122(d)(4)(viii), 1122(d)(4)(ix), 1122(d)(4)(x), 1122(d)(4)(xi),
1122(d)(4)(xii) and 1122(d)(4)(xiii), which the Company has determined are not
applicable to the activities it performs with respect to the Platform, as of and
for the twelve months ended December 31, 2006. Management is responsible for the
Company's compliance with those servicing criteria. Our responsibility is to
express an opinion on management's assertion about the Company's compliance
based on our examination.

Our examination was conducted in accordance with the standards of the Public
Company Accounting Oversight Board (United States) and, accordingly, included
examining, on a test basis, evidence about the Company's compliance with the
servicing criteria specified above and performing such other procedures as we
considered necessary in the circumstances. Our examination included testing of
less than all of the individual asset-backed transactions and securities that
comprise the Platform, testing of less than all of the servicing activities
related to the Platform, and determining whether the Company processed those
selected transactions and performed those selected activities in compliance with
the servicing criteria. Furthermore, our procedures were limited to the selected
transactions and servicing activities performed by the Company during the period
covered by this report. Our procedures were not designed to determine whether
errors may have occurred either prior to or subsequent to our tests that may
have affected the balances or amounts calculated or reported by the Company
during the period covered by this report for the selected transactions or any
other transactions. 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 the accompanying management's Assessment of Compliance With
Applicable Servicing Criteria, for servicing criteria 1122(d)(4)(i), the Company
has engaged various vendors to perform the activities required by these
servicing criteria. The Company has determined that these vendors are 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 each 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

KPMG LLP, a U.S. limited liability partnership, in the U.S. member firm
of KPMG International, a Swiss cooperative.

(page)

(logo) KPMG

procedures in place designed to provide assurance that the vendors' activities
comply in all material respects with the servicing criteria applicable to each
vendor. The Company is solely responsible for determining that it meets the SEC
requirements to apply Interpretation 17.06 for the vendors and related criteria
as described in its assertion, and we performed no procedures with respect to
the Company's eligibility to apply Interpretation 17.06.

Our examination disclosed material noncompliance with criterion 1122(d)(3)(i),
as applicable to the Company during the twelve months ended December 31, 2006.
Certain monthly investor or remittance reports included errors in the
calculation and/or the reporting of delinquencies for the pool assets.

In our opinion, except for the material non-compliance described above, the
Company complied, in all material respects, with the aforementioned servicing
criteria, including servicing criteria for which compliance is determined based
on Interpretation 17.06 as discussed above, as of and for the twelve months
ended December 31, 2006.

/s/ KPMG LLP

Chicago, IL 60601
March 1, 2007





EX-34 (l)
(logo) KPMG

KPMG LLP
303 East Wacker Drive
Chicago, IL 60601-5212

Report of Independent Registered Public Accounting Firm

The Board of Directors
The Corporate Trust Services division of Wells Fargo Bank National Association:

We have examined management's assertion, included in the accompanying Appendix
I, that the Document Custody section of the Corporate Trust Services division of
Wells Fargo Bank National Association complied with the servicing criteria set
forth in Item 1122(d) of the Securities and Exchange Commission's Regulation AB
for publicly-issued (i.e., transaction-level reporting required under the
Securities Exchange Act of 1934, as amended) residential mortgage-backed
securities and commercial mortgage-backed securities issued on or after January
1, 2006 for which the Company provides document custody services, excluding any
publicly issued transactions issued by any government sponsored entity (the
Platform) as of and for the twelve months ended December 31, 2006. Management
has determined that servicing criteria 1122(d)(4)(i) and 1122(d)(4)(ii) are
applicable to the activities it performs with respect to the Platform, and that
all other servicing criteria set forth in Item 1122(d) are not applicable to the
document custody services provided by the Company with respect to the Platform.
Management is responsible for the Company's compliance with those servicing
criteria. Our responsibility is to express an opinion on management's assertion
about the Company's compliance based on our examination.

Our examination was conducted in accordance with the standards of the Public
Company Accounting Oversight Board (United States) and, accordingly, included
examining, on a test basis, evidence about the Company's compliance with the
servicing criteria specified above and performing such other procedures as we
considered necessary in the circumstances. Our examination included testing of
less than all of the individual asset-backed transactions and securities that
comprise the Platform, testing of less than all of the servicing activities
related to the Platform, and determining whether the Company processed those
selected transactions and performed those selected activities in compliance with
the servicing criteria. Furthermore, our procedures were limited to the selected
transactions and servicing activities performed by the Company during the period
covered by this report. Our procedures were not designed to determine whether
errors may have occurred either prior to or subsequent to our tests that may
have affected the balances or amounts calculated or reported by the Company
during the period covered by this report for the selected transactions or any
other transactions. 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.

In our opinion, management's assertion that the Company complied with the
aforementioned servicing criteria as of and for the period ended December 31,
2006 is fairly stated, in all material respects.

/s/ KPMG LLP

Chicago, Illinois
March 1, 2007

KPMG LLP, a U.S. limited liability partnership, is the U.S. member firm of KPMG
International, a Swiss cooperative.





EX-34 (m)
(logo) ERNST & YOUNG


Ernst & Young LLP
Suite 2800
600 Peachtree Street
Atlanta, Georgia 30308-2215

Phone: (404) 874-8300
www.ey.com

Report of Independent Registered Public Accounting Firm

We have examined management's assertion, included in the accompanying Report on
Assessment of Compliance with Securities and Exchange Commission's Regulation AB
Servicing Criteria, that ZC Sterling Insurance Agency, Inc. (the Company)
complied with certain servicing criteria set forth in Item 1122(d) of the
Securities and Exchange Commission's Regulation AB for the ZC Sterling
Integrated Product Solution (ZIPS) hazard insurance outsourcing Platform
(Platform) as of and for the year ended December 31, 2006. The Company has
determined that only certain servicing criteria 1122 (d) 1(iv), 1122 (d) 2(vi),
1122 (d) 4(xi), 1122 (d) 4(xii), and 1122 (d) 4(xiii) are applicable to the
activities performed by them with respect to the Platform covered by this
report. The Company has determined that the remaining servicing criteria set
forth in Item 1122(d) of the Securities and Exchange Commission's Regulation AB
are not applicable to the activities performed by them with respect to the
Platform covered by this report. See Appendix A of management's assertion for
the Platform covered by this report. Management is responsible for the Company's
compliance with those servicing criteria, Our responsibility is to express an
opinion on management's assertion about the Company's compliance with the
servicing criteria based on our examination.

Our examination was conducted in accordance with standards of 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 and performing such other procedures as we considered
necessary in the circumstances. Our examination included testing of less than
all of the servicing activities related to the Platform, and determining whether
the Company performed those selected activities in compliance with the servicing
criteria. Furthermore, our procedures were limited to the servicing activities
performed by the Company during the period covered by this report. Our
procedures were not designed to determine whether errors may have occurred
either prior to or subsequent to our tests that may have affected the balances
or amounts calculated or reported by the Company during the period covered by
this report for the Platform. 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.

In our opinion, management's assertion that the Company complied with the
aforementioned servicing criteria as of and for the year ended December 31, 2006
for the ZIPS Platform is fairly stated, in all material respects.

/s/ Ernst & Young LLP

February 20, 2007


A Member Practice of Ernst & Young Global





EX-35 (a)
(logo) FREMONT
Investment & Loan

SERVICER ANNUAL STATEMENT OF COMPLIANCE

Re: The Trusts listed on Exhibit 1

I, John Alkire, Senior Vice President, Loan Servicing for the calendar year
ended December 31, 2006, certify to the Depositor, Trustee and Master Servicer
listed parties to the respective Pooling and Servicing Agreements set forth on
Exhibit 1, and their respective officers, directors and affiliates, and with the
knowledge and intent that they will rely upon this certification, that for the
calendar year ended December 31, 2006.

(i)  A review of activities of Fremont Investment & Loan (the "Servicer")
     during the preceding calendar year or portion thereof and of the
     Servicer's performance under the Pooling and Servicing Agreements listed
     on the attached Exhibit 1 (the "Agreements") has been made under my
     supervision and

(ii) To the best of my knowledge, based on such review, the Servicer has
     fulfilled all of its obligations under the Agreements, in all material
     respects throughout such year or portion thereof.

Capitalized terms used and not otherwise defined herein have the meanings
assigned thereto in the related Pooling and Servicing Agreements set forth on
the attached Exhibit 1.

Date: March 20, 2007

/s/ John Alkire
John Alkire
Senior Vice President, Loan Servicing



LEGAL 2727 E. IMPERIAL HWY Brea, CA 92821

Member FDIC Serving our customers since 1937


(page)


EXHIBIT 1

FREMONT

*    Fremont Home Loan Trust 2006-A pursuant to a Pooling & Servicing Agreement
     dated May 1, 2006, among Financial Asset Securities Corp as Depositor,
     Fremont Investment & Loan as Sponsor, Wells Fargo Bank, N.A. as Master
     Servicer and HSBC Bank USA, National Association as Trustee

*    Fremont Home Loan Trust 2006-B pursuant to a Pooling & Servicing Agreement
     dated August 1, 2006, among Fremont Mortgage Securities Corporation as
     Depositor, Fremont Investment & Loan as Originator, Wells Fargo Bank, N.A.
     as Master Servicer and HSBC Bank USA, National Association as Trustee

*    Fremont Home Loan Trust 2006-C pursuant to a Pooling & Servicing Agreement
     dated September 1, 2006, among Fremont Mortgage Securities Corporation as
     Depositor, Fremont Investment & Loan as Originator, Wells Fargo Bank, N.A.
     as Master Servicer and HSBC Bank USA, National Association as Trustee

*    Fremont Home Loan Trust 2006-D pursuant to a Pooling & Servicing Agreement
     dated November 1, 2006, among Fremont Mortgage Securities Corporation as
     Depositor, Fremont Investment & Loan as Sponsor, Wells Fargo Bank, N.A. as
     Master Servicer and HSBC Bank USA, National Association as Trustee

*    Fremont Home Loan Trust 2006-E pursuant to a Pooling & Servicing Agreement
     dated December 1, 2006, among Fremont Mortgage Securities Corporation as
     Depositor, Fremont Investment & Loan as Sponsor, Wells Fargo Bank, N.A. as
     Master Servicer and HSBC Bank USA, National Association as Trustee

*    Fremont Home Loan Trust 2005-A pursuant to a Pooling & Servicing Agreement
     dated February 1, 2005, among Fremont Mortgage Securities Corporation,
     Fremont Investment & Loan, Wells Fargo Bank, N.A. and HSBC Bank USA,
     National Association

*    Fremont Home Loan Trust 2005-B pursuant to a Pooling & Servicing Agreement
     dated May 1, 2005, among Fremont Mortgage Securities Corporation, Fremont
     Investment & Loan, Wells Fargo Bank, N.A. and HSBC Bank USA, National
     Association

*    Fremont Home Loan Trust 2005-C pursuant to a Pooling & Servicing Agreement
     dated July 1, 2005, among Fremont Mortgage Securities Corporation, Fremont
     Investment & Loan, Wells Fargo Bank, N.A. and HSBC Bank USA, National
     Association

*    Fremont Home Loan Trust 2005-D pursuant to a Pooling & Servicing Agreement
     dated November 1, 2005, among Fremont Mortgage Securities Corporation,
     Fremont Investment & Loan, Wells Fargo Bank, N.A. and HSBC Bank USA,
     National Association

*    Fremont Home Loan Trust 2005-E pursuant to a Pooling & Servicing Agreement
     dated December 1, 2005, among Fremont Mortgage Securities Corporation,
     Fremont Investment & Loan, Wells Fargo Bank, N.A. and HSBC Bank USA,
     National Association

*    Fremont Home Loan Trust 2004-A pursuant to a Pooling & Servicing Agreement
     dated February 1, 2004, among GS Mortgage Securities Corp., Fremont
     Investment & Loan, Wells Fargo Bank Minnesota, National Association and
     HSBC Bank USA

*    Fremont Home Loan Trust 2004-B pursuant to a Pooling & Servicing Agreement
     dated May 1, 2004, among Financial Asset Securities Corp., Fremont
     Investment & Loan, Wells Fargo Bank, N.A. and HSBC Bank USA

*    Fremont Home Loan Trust 2004-C pursuant to a Pooling & Servicing Agreement
     dated August 1, 2004, among Fremont Mortgage Securities Corporation,
     Fremont Investment & Loan, Wells Fargo Bank, N.A. and HSBC Bank USA,
     National Association

*    Fremont Home Loan Trust 2004-D pursuant to a Pooling & Servicing Agreement
     dated November 1, 2004, among Fremont Mortgage Securities Corporation,
     Fremont Investment & Loan, Wells Fargo Bank, N.A. and HSBC Bank USA,
     National Association

*    Fremont Home Loan Trust 2003-A pursuant to a Pooling & Servicing Agreement
     dated August 1, 2003, among Financial Asset Securities Corp., Fremont
     Investment & Loan, Wells Fargo Bank Minnesota, National Association and
     HSBC Bank USA

*    Fremont Home Loan Trust 2003-B pursuant to a Pooling & Servicing Agreement
     dated November 1, 2003, among Asset Backed Securities Corporation, Fremont
     Investment & Loan, Wells Fargo Bank Minnesota, National Association and
     HSBC Bank USA

CARRINGTON

*    Carrington Mortgage Loan Trust 2005-FRE1 pursuant to a Pooling & Servicing
     Agreement dated October 1, 2005, among Stanwich Asset Acceptance Company,
     L.L.C., Deutsche Bank National Trust Company and Fremont Investment & Loan

*    Carrington Mortgage Loan Trust 2006-FRE1 pursuant to a Pooling & Servicing
     Agreement dated June 1, 2006, among Stanwich Asset Acceptance Company,
     L.L.C., Fremont Investment & Loan And Wells Fargo Bank, N.A.

*    Carrington Mortgage Loan Trust 2006-FRE2 pursuant to a Pooling & Servicing
     Agreement dated October 1, 2006, among Stanwich Asset Acceptance Company,
     L.L.C., Fremont Investment & Loan and Wells Fargo Bank, N.A.

CREDIT SUISSE - DLJ/CSFB

*    CSFB Home Equity Pass-Through Certificates 2004-FRE1 pursuant to a Pooling
     & Servicing Agreement dated August 1, 2004, among Credit Suisse First
     Boston Mortgage Securities Corp., DLJ Mortgage Capital, INC., Fremont
     Investment & Loan, Wells Fargo Bank, N.A., The Murrayhill Company, and U.S.
     Bank National Association


(page)


DEUTSCHE

*    ACE Securities Corp. Home Equity Loan Trust 2006 FM1 pursuant to a Pooling
     & Servicing Agreement dated August 1, 2006, among ACE Securities Corp.,
     Fremont Investment & Loan, Wells Fargo Bank, N.A. and HSBC Bank USA,
     National Association

*    Interim - DB Structured Products, Inc Series 2006 FM2 pursuant to a
     Mortgage Loan Purchase and Interim Servicing Agreement dated May 1, 2004,
     among Fremont Investment & Loan and DB Structured Products, Inc.

*    Interim - DB Structured Products, Inc Series 2006 HE1 pursuant to Master
     Mortgage Loan Purchase and Interim Servicing Agreement dated May 1, 2004,
     among Fremont Investment & Loan and DB Structured Products, Inc.

GREENWICH

*    Interim - Fremont Home Loan Trust 20061 pursuant to a Mortgage Loan
     Purchase and Interim Servicing Agreement dated December 1, 2005, among
     Financial Asset Securities Corp., Fremont Investment & Loan, Deutsche Bank
     National Trust Company and Wells Fargo Bank

*    Fremont Home Loan Trust 2006-2 pursuant to a Pooling & Servicing Agreement
     dated April 1, 2006, among Fremont Investment & Loan and Greenwich Capital
     Financial Products, Inc.

*    Interim - Fremont Home Loan Trust 2006-3 pursuant to a Mortgage Loan
     Purchase and Interim Servicing Agreement dated December 1, 2005, among
     Fremont Investment & Loan And Greenwich Capital Financial Products, Inc.

GOLDMAN SACHS

*    GSAMP Trust 2006-FM2 pursuant to a Pooling & Servicing Agreement dated
     September 1, 2006, among GS Mortgage Securities Corp., Fremont Investment &
     Loan, Deutsche Bank National Trust Company and Wells Fargo Bank

*    GSAMP Trust 2006-FM3 pursuant to a Pooling & Servicing Agreement dated
     December 1, 2006, among GS Mortgage Securities Corp., Fremont Investment &
     Loan, Deutsche Bank National Trust Company and Wells Fargo Bank

*    Interim - GSAMP Trust 2006-HE2 pursuant to a Amended and Restated Flow
     Mortgage Loan Purchase and Warranties Agreement dated January 1, 2006,
     among Goldman Sachs Mortgage Company and Fremont Investment & Loan

*    Interim - GSAMP Trust 2006-HE3 pursuant to a Amended and Restated Flow
     Mortgage Loan Purchase and Warranties Agreement dated January 1, 2006,
     among Goldman Sachs Mortgage Company and Fremont Investment & Loan

SOCIETE GENERAL

*    Interim - SG Mortgage Finance Corp. 2006-FRE2 pursuant to a Amended
     Mortgage Loan Purchase and Interim Servicing Agreement dated June 21, 2006,
     among Fremont Investment & Loan and SG Mortgage Finance Corp.



Exhibit 1
Page 2





EX-35 (b)
(logo) OCWEN


ANNUAL SERVICER COMPLIANCE STATEMENT
PURSUANT TO ITEM 1123 OF REGULATION AB

March 8, 2007

RE: ACE 2006-HE1

For the fiscal year ended December 31, 2006 (the "Reporting Period"), Ocwen Loan
Servicing, LLC ("OLS") furnishes this annual servicer compliance statement
pursuant to Item 1123 of Regulation AB, indicating its compliance with the
servicing standards of the Securities & Exchange Commission as set forth in
Regulation AB, 17 CFR Section 229.1100, et seq., ("Regulation AB"). In this
regard, I make the following representations, which are true to the best of my
knowledge and belief in all material respects.

1.   A review of the servicing activities of OLS during the Reporting Period,
     and of its performance under the Pooling and Servicing Agreement Dated
     February 1, 2006 (the "Agreement"), has been performed under my
     supervision.

2.   To the best of my knowledge, based on this review, OLS has fulfilled all of
     its obligations under the Agreement in all material respects throughout the
     Reporting Period.

By: /s/ Ronald M. Faris
Name:  Ronald M. Faris
Title: President


Ocwen Loan Servicing LLC
1661 Worthington Road Suite 100
Centrepark West
West Palm Beach, FL 33409





EX-35 (c)
(logo) WELLS FARGO HOME MORTGAGE

Wells Fargo Home Mortgage
One Home Campus
Des Moines, IA 50328-0001


Wells Fargo Bank, N.A.
Servicer Compliance Statement

1. I, John B. Brown, Senior Vice President of Wells Fargo Bank, N.A. ("Wells
Fargo") hereby state that a review of the activities of Wells Fargo during the
calendar year 2006 and of Wells Fargo's performance under the servicing
agreement(s) listed on the attached Exhibit A (the "Servicing Agreement(s)") has
been made under my supervision.

2. To the best of my knowledge, based on such review, Wells Fargo has fulfilled
all of its obligations under the Servicing Agreement(s) in all material respects
throughout 2006, with the exception of the following failure(s) to fulfill any
such obligation in any material respect:

For certain loans sub-serviced by Wells Fargo or for which servicing rights were
acquired on a bulk-acquisition basis, Wells Fargo determined that it provided
incomplete data to some third parties who use such data to calculate delinquency
ratios and the status of loans with respect to bankruptcy, foreclosure or real
estate owned. The incomplete reporting only affected securitizations that
included delinquent loans. Instead of the actual due date being provided for use
in calculating delinquencies, the date of the first payment due to the security
was provided. Wells Fargo subsequently included additional data in monthly
remittance reports, providing the actual borrower due date and unpaid principal
balance, together with instructions to use these new fields if such monthly
remittance reports are used to calculate delinquency ratios.

/s/ John B. Brown
John B. Brown
Senior Vice President
Wells Fargo Bank, N.A.

March 1, 2007


Wells Fargo Home Mortgage
is a division of Wells Fargo Bank N.A.


(page)


EXHIBIT A
                                          MASTER SERVICER/
CLIENT  INV#    INV                            TRUSTEE            DEAL NAME
106     Q02     WACHOVIA PMSR LUMINENT 2    WELLS FARGO CTS     LUMINENT 2006-3


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EXHIBIT A
                                          MASTER SERVICER/
CLIENT INV#     INV                            TRUSTEE            DEAL NAME
106     310     CS PMSR 2004-AR5               WFB CTS            2004-AR5
106     312     CS PMSR 2004-AR7               WFB CTS            2004-AR7
106     313     CS PMSR 2004-AR8               WFB CTS            2004-AR8
106     318     CS PMSR ARMT 2004-2            WFB CTS            ARMT 2004-2
106     323     CS PMSR ARMT 2004-4            WEB CTS            ARMT 2004-4
106     328     CS PMSR ARMT 2005-1            WFB CTS            ARMT 2005-1
106     329     CS PMSR ARMT 2005-2            WFB CTS            ARMT 2005-2
106     330     CSFB PMSR CSFB 2005-3          WFB CTS            CSFB 2005-3
106     350     CS PMSR ARMT 2005-7            WFB CTS            ARMT 2005-7
106     351     CSFB PMSR CSFB 2003-23         WFB CTS            CSFB 2003-23
106     356     CS PMSR ARMT 2005-8            WFB CTS            ARMT 2005-8
106     368     CS PMSR ARMT 2005-10           WFB CTS            ARMT 2005-10
106     370     CS PMSR ARMT 2005-11           WFB CTS            ARMT 2005-11
106     372     CSFB PMSR CSFB 2005-10         WFB CTS            CSFB 2005-10
106     373     CSMC PMSR ARMT 2005-12         WFB CTS            ARMT 2005-12
106     375     CSMC PMSR CSMC 2005-12         WFB CTS            CSMC2005-12
106     376     CSMC PMSR CSMC 2006-1          WFB CTS            CSMC 2006-1
106     377     CSMC PMSR ARMT 2006-1          WFB CTS            ARMT 2006-1
106     378     CSMC PMSR ARMT2006-2           WFB CTS            ARMT 2006-2
106     380     CSMC PMSR CSMC 2006-4          WFB CTS            CSMC 2006-4
106     385     CSMC PMSR CSMC 2006-3          WFB CTS            CSMC 2006-3
106     400     CSMC PMSR CSMC 2006-5          WFB CTS            CSMC 2006-5
106     404     CSMC PMSR CSMC 2006-7          WFB CTS            CSMC 2006-7
106     553     CS SUB ARMT 2005-12            WFB CTS            ARMT 2005-12
106     554     CSFB SUB CSFB 2005-11          WFB CTS            CSFB 2005-11
106     556     CSMC SUB CSMC 2006-4           WFB CTS            CSMC 2006-4
106     557     CSMC SUB ARMT 2006-1           WFB CTS            ARMT 2006-1
106     558     CSFB SUB CSFB 2005-12          WFB CTS            CSFB 2005-12
106     560     CSMC SUB CSMC 2006-2           WFB CTS            CSMC 2006-2
106     562     CSMC SUB CSMC 2006-1           WFB CTS            CSMC 2006-1
106     564     CSMC SUB CSMC 2006-3           WFB CTS            CSMC 2006-3
106     565     CSMC SUB ARMT 2006-2           WFB CTS            ARMT 2006-2
106     569     CSMC SUB CSAB 2006-1           WFB CTS            CSAB 2006-1
106     572     CSMC SUB CSMC 2006-7           WFB CTS            CSMC 2006-7
106     574     CSMC SUB ARMT 2006-3           WFB CTS            ARMT 2006-3


(page)


EXHIBIT A
                                          MASTER SERVICER/
CLIENT  INV#    INV                            TRUSTEE            DEAL NAME
106     201     HSBC PMSR HASCO 2006-WMC    WELLS FARGO CTS      HASCO 2006-WMC


(page)


EXHIBIT A
                                          MASTER SERVICER/
CLIENT  INV#    INV                            TRUSTEE            DEAL NAME
106     M02     BARCLAYS PMSR SABR 2006-    WELLS FARGO CTS      SABR 2006-WM1
106     M03     BARCLAYS PMSR SABR2006NC    WELLS FARGO CTS      SABR 2006-NC1
106     M04     BARCLAYS PMSR SABR 06-NC    WELLS FARGO CTS      SABR 2006-NC2


(page)


EXHIBIT A
                                          MASTER SERVICER/
CLIENT  INV#    INV                           TRUSTEE             DEAL NAME
106     X11     DEUTSCHE PMSR ACE 06-HE1    WELLS FARGO CTS      ACE 2006-HE1
106     X02     DEUTSCHE PMSR ACE 2005HE    WELLS FARGO CTS      ACE 2005-HE7
106     X09     DEUTSCHE PMSR DBALT 2006    WELLS FARGO CTS      DBALT 2006-1
106     X10     DEUTSCHE PMSR DBALT 2006    WELLS FARGO CTS      DBALT 2006-AR1
106     X12     DEUTSCHE PMSR DBALT06-AF    WELLS FARGO CTS      DBALT 2006-AF1
106     X14     DEUTSCHE PMSR DBALT06-AR    WELLS FARGO CTS      DBALT 2006-AR2


(page)


EXHIBIT A
                                          MASTER SERVICER/
CLIENT  INV#    INV                           TRUSTEE             DEAL NAME
106     Z42     EMC PMSR BSABS 2006-IM1     WELLS FARGO CTS      BSABS 2006-IM1
106     Z41     EMC PMSR PRIME 2006-CL1     WELLS FARGO CTS      PRIME 2006-CL1
106     V50     EMC SUB BSABS 2005-SD2      WELLS FARGO CTS      BSABS 2005-SD2
106     V53     EMC SUB BSABS 2006-SD1      WELLS FARGO CTS      BSABS 2006-SD1
106     V54     EMC SUB BSABS 2006-SD2      WELLS FARGO CTS      BSABS 2006-SD2
106     V55     EMC SUB BSABS 2006-SD3      WELLS FARGO CTS      BSABS 2006-SD3


(page)


EXHIBIT A
                                          MASTER SERVICER/
CLIENT  INV#    INV                           TRUSTEE             DEAL NAME
106     U02     GREENWICH PMSR SOUNDVIEW    WELLS FARGO CTS     SOUNDVIEW 2006-2
106     U05     GREENWICH PMSR SOUNDVIEW    WELLS FARGO CTS     SOUNDVIEW 2006-3


(page)


EXHIBIT A
                                          MASTER SERVICER/
CLIENT  INV#    INV                           TRUSTEE             DEAL NAME
106     719     LEHMAN PMSR SAIL 2006-3     WELLS FARGO CTS      SAIL 2006-3
106     724     LEHMAN PMSR SASCO 06-BC2    WELLS FARGO CTS     SASCO 2006-BC2
106    K67      LEHMAN SUB 2004-7           WELLS FARGO CTS         2004-7


(page)


EXHIBIT A
                                          MASTER SERVICER/
CLIENT  INV#    INV                           TRUSTEE             DEAL NAME
106     P41     MORGAN PMSR MSM 2006-5AR    WELLS FARGO CTS     MSM 2006-5AR
106     P43     MORGAN PMSR MSAC 2006-HE    WELLS FARGO CTS     MSAC 2006-HE2
106     P52     MORGAN PMSR MSIX 2006-1     WELLS FARGO CTS     MSIX 2006-1
106     P53     MORGAN PMSR MSAC2006-WMC    WELLS FARGO CTS     MSAC 2006-WMC2


(page)


EXHIBIT A
                                          MASTER SERVICER/
CLIENT  INV#    INV                           TRUSTEE             DEAL NAME
106     V02     SOCIETE PMSR SUMS 06-FRE    WELLS FARGO CTS     SGMS 2006-FRE1


(page)


EXHIBIT A
                                          MASTER SERVICER/
CLIENT  INV#    INV                           TRUSTEE             DEAL NAME
106     916     UBS PMSR MALT 2006-2        WELLS FARGO CTS     MALT 2006-2
106     917     UBS PMSR MABS2006-FRE1      WELLS FARGO CTS     MABS 2006-FRE1
106     925     UBS PMSR MABS2006-FRE2      WELLS FARGO CTS     MABS 2006-FRE2
106     926     UBS PMSR MALT 2006-3        WELLS FARGO CTS     MALT 2006-3
106     927     UBS PMSR MABS 2006-WMC2     WELLS FARGO CTS     MABS 2006-WMC2
106     928     UBS PMSR MASS 2006-HE2      WELLS FARGO CTS     MABS 2006-HE2
106     929     UBS PMSR MABS 2006-AM2      WELLS FARGO CTS     MABS 2006-AM2





EX-35 (d)
(logo) WELLS FARGO

Corporate Trust Services
MAC N2702-011
9062 Old Annapolis Road
Columbia, MD 21045
410 884-2000
410 715-2380 Fax

Wells Fargo Bank, N.A.


March 12, 2007

Ace Securities Corporation
AMACAR GROUP
6525 Morrison Boulevard, Suite 318
Charlotte, NC 28211

RE: Annual Statement As To Compliance for ACE Securities Corp. Home Equity Loan
    Trust, Series 2006-HE1

Per Section 4.15 (a) of the Pooling and Servicing Agreement, dated as of
2/1/2006, the undersigned Officer of Wells Fargo Bank, N.A., (Master Servicer),
hereby certifies the following for the 2006 calendar year or portion thereof:


(A)     A review of such party's activities during the preceding calendar year
        or portion thereof and of such party's performance under this Agreement,
        or such other applicable agreement in the case of an Additional Servicer
        or Servicing Function Participant, has been made under such officer's
        supervision.

(B)     To the best of such officer's knowledge, based on such review, such
        party has fulfilled all its obligations under this Agreement, or such
        other applicable agreement in the case of an Additional Servicer or
        Servicing Function Participant, in all material respects throughout such
        year or portion thereof, or, if there has been a failure to fulfill any
        such obligation in any material respect, specifying each such failure
        known to such officer and the nature and status thereof.

(C)     Notwithstanding anything herein to contrary (and noting that, to the
        extent of any inconsistency, any and all other statements,
        certifications or assertions herein are subject to the following):
        instances of noncompliance related to the subject transaction for the
        applicable reporting period are identified on Schedule A hereto.


Certified By:
/s/ Kristen Ann Cronin
Kristen Ann Cronin, Vice President

Certified By:
/s/ Gordon Johnson
Gordon Johnson, Assistant Secretary


(page)


Schedule A


Payment/Distribution Calculation Errors

During the reporting period, certain errors were made in connection with the
calculation of payments/distributions on the securities. To the best of the
signing officer's knowledge, each such error, which may or may not have been
material, has been identified and remedied and any related corrective action has
been disclosed in a report previously filed with the SEC in respect of the
reporting period.





EX-35 (e)
(logo) WELLS FARGO

Corporate Trust Services
MAC N2702-011
9062 Old Annapolis Road
Columbia, MD 21045
410 884-2000
410 715-2380 Fax

Wells Fargo Bank, N.A.


March 12, 2007

Ace Securities Corporation
AMACAR GROUP
6525 Morrison Boulevard, Suite 318
Charlotte, NC 28211

RE: Annual Statement As To Compliance for ACE Securities Corp. Home Equity Loan
    Trust, Series 2006-HE1

Per Section 4.15 of the Pooling and Servicing Agreement, dated as of 2/1/2006,
the undersigned Officer of Wells Fargo Bank, N.A., (Securities Administrator),
hereby certifies the following for the 2006 calendar year or portion thereof:


(A)     A review of such party's activities during the preceding calendar year
        or portion thereof and of such party's performance under this Agreement,
        or such other applicable agreement in the case of an Additional Servicer
        or Servicing Function Participant, has been made under such officer's
        supervision.

(B)     To the best of such officer's knowledge, based on such review, such
        party has fulfilled all its obligations under this Agreement, or such
        other applicable agreement in the case of an Additional Servicer or
        Servicing Function Participant, in all material respects throughout such
        year or portion thereof, or, if there has been a failure to fulfill any
        such obligation in any material respect, specifying each such failure
        known to such officer and the nature and status thereof.

(C)     Notwithstanding anything herein to contrary (and noting that, to the
        extent of any inconsistency, any and all other statements,
        certifications or assertions herein are subject to the following):
        instances of noncompliance related to the subject transaction for the
        applicable reporting period are identified on Schedule A hereto.


Certified By:
/s/ Kristen Ann Cronin
Kristen Ann Cronin, Vice President

Certified By:
/s/ Gordon Johnson
Gordon Johnson, Assistant Secretary


(page)


Schedule A


Payment/Distribution Calculation Errors

During the reporting period, certain errors were made in connection with the
calculation of payments/distributions on the securities. To the best of the
signing officer's knowledge, each such error, which may or may not have been
material, has been identified and remedied and any related corrective action has
been disclosed in a report previously filed with the SEC in respect of the
reporting period.