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**REGULATION          AB SECTION 229.1122(D) ITEM 1122 D SERVICING CRITERIA**

|  **Regulation                AB Reference/Servicing Criteria** | **Applicable                Servicing                Criteria/Compliance** |
|---------------------------------------------------------------------|----------------------------------------------------------------------------|

|  1122(d)(1)(i)   | Policies                  and procedures are instituted to monitor any performance or other                  triggers                  and events of default in accordance with the transaction                  agreements.                                                                                                                                                              |   | Laureate                is in compliance  |
|-----------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------|
|  1122(d)(1)(ii)  |  If                  any material servicing activities are outsourced to third parties,                  policies and procedures are instituted to monitor die third party's                  performance and compliance with such servicing activities.                                                                                                                             |   | Not                Applicable             |
|  1122(d)(1)(iii) | Any                  requirements in the transaction agreements to maintain a back-up                  servicer for the mortgage loans are maintained.                                                                                                                                                                                                                               |   | Not                Applicable             |
|  1122(d)(1)(iv)  | A                  fidelity bond and errors and omissions policy is 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.  |   | Laureate                is in compliance. |
|  1122(d)(2)(i)   | Payments                  on mortgage loans are deposited into the 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.                               |   | Laureate                is in compliance. |
|  1122(d)(2)(ii)  | Disbursements                  made via wire transfer on behalf of an obligor or to an investor                  are made                  only by authorized personnel.                                                                                                                                                                                                                  |   | Not                Applicable             |
|  1122(d)(2)(iii) | Advances                  of funds or guarantees regarding 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.                                                                                            |   | Not                Applicable             |
|  1122(d)(2)(iv)  | The                related accounts for the transaction, such as 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.                                                |   | Laureate                is in compliance. |

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**Laureate*Capital***

|  **Regulation                AB Reference/Servicing Criteria** | **Applicable                Servicing                Criteria/Compliance** |
|---------------------------------------------------------------------|----------------------------------------------------------------------------|

|  1122(d)(2)(v)   | Each                custodial account is maintained at a federally insured depository                institution as set forth in the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | Laureate              is in compliance.                                                                                                                                                                                                                                        |
|-----------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  1122(d)(2)(vi)  | Unissued                checks are safeguarded so as to prevent unauthorized access.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | Laureate              is in compliance.                                                                                                                                                                                                                                        |
|  1122(d)(2)(vii) | Reconciliations                are prepared on a monthly basis 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.  |   | Laureate              is in compliance.                                                                                                                                                                                                                                        |
|  1122(d)(3)(i)   | Reports                to investors, including those to be filed with the Commission, are                maintained in accordance with the transaction agreements and applicable                Commission requirements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | Not              Applicable                                                                                                                                                                                                                                                    |
|  1122(d)(3)(ii)  | Amounts                due to investors are allocated and remitted in accordance with timeframes,                distribution priority and other terms set forth in the transaction                agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   | Not              Applicable                                                                                                                                                                                                                                                    |
|  1122(d)(3)(iii) | Disbursements                made to an investor are posted within two business days to the Servicer's                investor records, or such other number of days specified in the                transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | Not              Applicable                                                                                                                                                                                                                                                    |
|  1122(d)(3)(iv)  | Amounts                remitted to investors per the investor reports agree with cancelled                checks, other form of payment, or custodial bank statements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | Not              Applicable                                                                                                                                                                                                                                                    |
|  1122(d)(4)(i)   | Collateral                or security on mortgage loans is maintained as required by the transaction                agreements or related mortgage loan documents.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | Not              Applicable - Laureate did not hold any original loan documents in              2006                                                                                                                                                                           |
|  1122(d)(4)(ii)  | Mortgage                loan and related documents are safeguarded as required by the transaction                agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | Not              Applicable                                                                                                                                                                                                                                                    |
|  1122(d)(4)(iii) | Any                additions, removals, or substitutions to the asset pool are made,                reviewed, and approved in accordance with any conditions or requirements                in the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | Not              Applicable                                                                                                                                                                                                                                                    |
|  1122(d)(4)(iv)  | Payments                on mortgage loans, including any payoffs, made in accordance with                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.                                                                                                                                                                                                                                                                                                                                 |   | Laureate                is in compliance regarding payments on mortgage loans.Not                Applicable - No loan payoffs processed during January 1, 2006 thru                December 31, 2006 for the loan pools securitized in 2006 as indicated                above. |
|  1122(d)(4)(v)   | The                Servicer's records regarding the mortgage loans agree with the Servicer's                records with respect to an obligor's unpaid principal                balance.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | Laureate              is in compliance.                                                                                                                                                                                                                                        |
|  1122(d)(4)(vi)  | Changes                with respect to the terms or status of an obligor's mortgage                loans (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.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | Not              Applicable - No changes to terms or status of an obligor's mortgage              loan              during January 1, 2006 thru December 31, 2006 for the loan pools              securitized in 2006 as indicated above.                                      |

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**Laureate*Capital***

|  **Regulation                  AB Reference/Servicing Criteria** | **Applicable                  Servicing                  Criteria/Compliance** |
|-----------------------------------------------------------------------|--------------------------------------------------------------------------------|

|  1122(d)(4)(vii)  | Loss                  mitigation or recovery actions (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.                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | Not              Applicable                                                                                                                                                                                                                                                                                                 |
|------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  1122(d)(4)(viii) | Records                  documenting collection efforts are maintained during the                  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 deemed temporary (e.g., illness or unemployment).                                                                                                                                                                |   | Laureate              is in compliance.                                                                                                                                                                                                                                                                                     |
|  1122(d)(4)(ix)   | Adjustments                  to interest rates or rates of return for mortgage loans with variable                  rates are computed based on the related mortgage loan                  documents.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | Not                Applicable - There are no ARM loans in the 2006 securitizations indicated                above.                                                                                                                                                                                                          |
|  1122(d)(4)(x)    | Regarding                  any funds held in trust for an obligor (such as escrow 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 number of days specified in the transaction                  agreements.  |   | (A) Laureate                is in compliance.(B) Laureate                is in compliance.(C) Not                Applicable -No loan payoffs processed during January 1, 2006 thru                December                31, 2006 for the loan pools securitized in 2006 as indicated                above. |
|  1122(d)(4)(xi)   | Payments                  made on behalf of an obligor (such as 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.                                                                                                                                                                                                                                                                     |   | Laureate              is in compliance.                                                                                                                                                                                                                                                                                     |
|  1122(d)(4)(xii)  | Any                  late payment penalties in connection with 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.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | Not                Applicable - No late payment penalties were assessed for loans in                the loan                pools securitized in 2006 as indicated above.                                                                                                                                                   |
|  1122(d)(4)(xiii) | Disbursements                  made on behalf of an obligor are 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.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   | Laureate              is in compliance.                                                                                                                                                                                                                                                                                     |
|  1122(d)(4)(xiv)  | Delinquencies,                  charge-offs, and uncollectible accounts are recognized and recorded                  in                  accordance with the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | Not              Applicable                                                                                                                                                                                                                                                                                                 |
|  1122(d)(4)(xv)   | Any                  external enhancement or other support identified in Item 1114(a)(1)                  through (3) or Item 1115 of Regulation AB, is maintained as set                  forth in                  the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | Not              Applicable                                                                                                                                                                                                                                                                                                 |

|  /s/              Jorjeana L. Quinn                          |  /s/              Joseph Shaffer                            |
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|  Jorjeana              L. Quinn                              |  Joseph              Shaffer                                |
|  Assistant              Vice President/Compliance Management |  Senior              Vice President/Chief Financial Officer |

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