CREDIT SUISSE INTERNATIONAL

One Cabot Square,           Telephone 020 7888 8888
London E14 4QJ              www.credit-suisse.com


                                               Facsimile Cover Sheet


To:                                 Wells Fargo Bank, N.A., not in its individual or corporate capacity but solely as Trust
                                    Administrator on behalf of the Adjustable Rate Mortgage Trust 2006-3

Attention:                          Heakyung Chung, CSIN Marketer

Fax number:                         To be hand delivered by Heakyung Chung

Date:                               31 July 2006

Pages (including cover page):       4

Our Reference No: External ID: 53137793NOV / Risk ID: 447505488, 447505490

Credit Suisse  International  has entered into a transaction  with you as attached.  Please find attached a letter
agreement (the "Confirmation") which confirms the terms and conditions of the above transaction.

If you  agree  with the  terms  specified  therein,  please  arrange  for the  Confirmation  to be  signed by your
authorised signatories and return a signed copy to this office to the facsimile listed below.

For Interest Rate Products:                                For Equity Derivatives:
Telephone Numbers: (212) 538-9370                          Telephone numbers: (212) 538-4437 / (212) 538-8297 /
Facsimile number: (917) 326-8603                           (212) 325-5119
Email: list.otc-inc-accept-ny@credit-suisse.com            Facsimile number: (212) 325-8173

For Credit Derivatives:
Telephone Numbers: (212) 538-9370
Facsimile number: (917) 326-8603
Email: list.otc-inc-accept-ny@credit-suisse.com

We are delighted to have entered into this transaction with you.






CONFIDENTIALITY  NOTICE:  This  facsimile is intended  only for the use of the  individual or entity to which it is
addressed and may contain  information which is privileged and  confidential.  If the reader of this message is not
the intended  recipient or an employee or agent  responsible for delivering the message to the intended  recipient,
you are  hereby  notified  that any  dissemination,  distribution  or  copying of this  communication  is  strictly
prohibited.  If you have received  this  communication  in error,  please  notify us  immediately  by telephone and
return the original message to us by mail. Thank you.


Registered Office as above.
Registered with unlimited liability in England under No. 2500199
Authorised and regulated by The Financial Services Authority
VAT No: GB 447 0737 41









                                    Novation Confirmation

Date:    31 July 2006

To:      Wells Fargo Bank, N.A., not in its individual or corporate capacity but solely
         as Trust Administrator on behalf of the Adjustable Rate Mortgage Trust 2006-3

To:      Credit Suisse Management LLC

From:    Credit Suisse International ("CSIN")

Re:      Novation Transaction

External ID: 53137793NOV

______________________________________________________________________________

Dear Sirs,

The purpose of this letter  agreement  (this  "Confirmation")  is to confirm the terms and  conditions  of the Swap
Transaction  entered  into  between  us  on  the  Trade  Date  specified  below  (the  "Swap  Transaction").   This
Confirmation constitutes a "Confirmation" as referred to in the Agreement specified below.

         1.       The  definitions  and  provisions   contained  in  the  2004  ISDA  Novation   Definitions   (the
         "Definitions")  and the terms and  provisions of the 2000 ISDA  definitions  (the "Product  Definitions"),
         each as published by the International  Swaps and Derivatives  Association,  Inc. and amended from time to
         time, are incorporated in this Novation  Confirmation.  In the event of any inconsistency  between (i) the
         Definitions,  (ii) the  Product  Definitions  and/or  (iii)  the  Novation  Agreement  and  this  Novation
         Confirmation,  this  Novation  Confirmation  will govern.  In the event of any  inconsistency  between the
         Novation  Confirmation and the New  Confirmation,  the New Confirmation will govern for the purpose of the
         New Transaction.

         2.       The  terms of the  Novation  Transaction  to which  this  Novation  Confirmation  relates  are as
         follows:

           Novation Date:                                    31 July 2006

           Novated Amount:                                   USD 77,208,000  subject to adjustment as set out in the
                                                             Additional Terms of the New Confirmation

           Transferor:                                       Credit Suisse Management LLC

           Transferee:                                       Wells Fargo Bank, N.A., not in its individual or corporate
                                                             capacity but solely as Trust Administrator on behalf of the
                                                             Adjustable Rate Mortgage Trust 2006-3

           Remaining Party:                                  Credit Suisse International

           New Agreement (between  Transferee and Remaining  1992 ISDA Master Agreement dated as of
           Party):                                           31 July 2006, identified therein as the "Cap Agreement"


           3.       The  terms  of  the  Old   Transaction  to  which  this  Novation   Confirmation   relates,   for
identification purposes, are as follows:

           Trade Date of Old Transaction:                                   19 July 2006
           Effective Date of Old Transaction:                               31 July 2006
           Termination Date of Old Transaction:                             25 July 2011


           4.       The  terms of the New  Transaction  to  which  this  Novation  Confirmation  relates  shall be as
specified in the New Confirmation attached hereto as Exhibit A.

           Full First Calculation Period:                                 Applicable

5.         Miscellaneous Provisions:

           Non-Reliance:                                                  Applicable


For the purpose of facilitating  this  Transaction,  an Affiliate of CSIN,  which is organized in the United States
of  America  (the  "Agent"),  has acted as agent  for  CSIN.  The Agent is not a  principal  with  respect  to this
Transaction  and shall have no  responsibility  or  liability  to the parties as a principal  with  respect to this
Transaction.

Credit Suisse  International is authorized and regulated by the Financial  Services  Authority and has entered into
this  transaction  as  principal.  The time at which the above  transaction  was  executed  will be notified to the
parties on request.

The  parties  confirm  their  acceptance  to be bound by this  Novation  Confirmation  as of the  Novation  Date by
executing a copy of this Novation  Confirmation and returning it to us. The Transferor,  by its execution of a copy
of this  Novation  Confirmation,  agrees  to the  terms  of the  Novation  Confirmation  as it  relates  to the Old
Transaction.  The  Transferee,  by its  execution of a copy of this Novation  Confirmation,  agrees to the terms of
the Novation Confirmation as it relates to the New Transaction.




Credit Suisse International



By:.........................................
 Name:
 Title:



Credit Suisse Management LLC



By:........................................
 Name:
 Title:



Wells Fargo Bank,  N.A., not in its  individual or corporate  capacity but solely as Trust  Administrator  on behalf of
the Adjustable Rate Mortgage Trust 2006-3



By:........................................
 Name:
 Title:




Our Reference No: External ID: 53137793NOV / Risk ID: 447505488, 447505490















CREDIT SUISSE INTERNATIONAL

One Cabot Square,            Telephone 020 7888 8888
London E14 4QJ              www.credit-suisse.com



                                               Facsimile Cover Sheet


To:                                 Wells Fargo Bank,  N.A., not in its individual or corporate  capacity but solely as
                                    Trust Administrator on behalf of the Adjustable Rate Mortgage Trust 2006-3

Attention:                          Heakyung Chung, CSIN Marketer

Fax number:                         To be hand delivered by Heakyung Chung

Date:                               31 July 2006

Pages (including cover page):       8

Our Reference No: External ID: 53137793NOV / Risk ID: 447505488, 447505490

Credit Suisse  International  has entered into a transaction  with you as attached.  Please find attached a letter
agreement (the "Confirmation") which confirms the terms and conditions of the above transaction.

If you  agree  with the  terms  specified  therein,  please  arrange  for the  Confirmation  to be  signed by your
authorised signatories and return a signed copy to this office to the facsimile listed below.

For Interest Rate Products:                                For Equity Derivatives:
Telephone Numbers: (212) 538-9370                          Telephone numbers: (212) 538-4437 / (212) 538-8297 /
Facsimile number: (917) 326-8603                           (212) 325-5119
Email: list.otc-inc-accept-ny@credit-suisse.com            Facsimile number: (212) 325-8173

For Credit Derivatives:
Telephone Numbers: (212) 538-9370
Facsimile number: (917) 326-8603
Email: list.otc-inc-accept-ny@credit-suisse.com

We are delighted to have entered into this transaction with you.






CONFIDENTIALITY  NOTICE:  This  facsimile is intended  only for the use of the  individual or entity to which it is
addressed and may contain  information which is privileged and  confidential.  If the reader of this message is not
the intended  recipient or an employee or agent  responsible for delivering the message to the intended  recipient,
you are  hereby  notified  that any  dissemination,  distribution  or  copying of this  communication  is  strictly
prohibited.  If you have received  this  communication  in error,  please  notify us  immediately  by telephone and
return the original message to us by mail. Thank you.


                                                                                         Registered Office as above
                                                   Registered with unlimited liability in England under No. 2500199
                                                       Authorised and Regulated by the Financial Services Authority
                                                                                            VAT No: GB 447 0737 41









                                                                                                       31 July 2006


Wells Fargo Bank, NA
9062 Old Annapolis Road
Columbia, Maryland  21045
Attn:  Diane TenHoopen
Fax:  410-715-2380

______________________________________________________________________________

Dear Sirs,

The purpose of this letter  agreement  (this  "Confirmation")  is to confirm the terms and  conditions  of the Swap
Transaction  entered  into  between  us  on  the  Trade  Date  specified  below  (the  "Swap  Transaction").   This
Confirmation constitutes a "Confirmation" as referred to in the Agreement specified below.

In this Confirmation "CSIN" means Credit Suisse International and "Counterparty" means  Wells  Fargo  Bank,   N.A.,
not in its individual or corporate  capacity but solely as Trust  Administrator  on behalf of the  Adjustable  Rate
Mortgage Trust 2006-3.

1.       The definitions and provisions  contained in the 2000 ISDA Definitions (as published by the  International
         Swaps and Derivatives  Association,  Inc.) are incorporated  into this  Confirmation.  In the event of any
         inconsistency  between those  definitions and provisions and this  Confirmation,  this  Confirmation  will
         govern.

         This Confirmation  supplements,  forms part of, and is subject to, the 1992 ISDA Master Agreement dated as
         of 31 July 2006 as amended  and  supplemented  from time to time (the  "Agreement"),  between  you and us,
         identified  therein  as the "Cap  Agreement."  All  provisions  contained  in the  Agreement  govern  this
         Confirmation except as expressly modified below.

         CSIN and  Counterparty  each  represents  to the other that it has entered into this Swap  Transaction  in
         reliance upon such tax,  accounting,  regulatory,  legal,  and financial  advice as it deems necessary and
         not upon any view expressed by the other.

2.       The terms of the particular Swap Transaction to which this Confirmation relates are as follows:

                  Transaction Type:                    Rate Cap Transaction

                  Notional Amount:                     USD  77,208,000  subject to  amortization  as set out in the
                                                       Additional Terms provision of this Confirmation

                  Trade Date:                          19 July 2006

                  Effective Date:                      31 July 2006

                  Termination Date:                    25 July 2011,  subject to adjustment in accordance  with the
                                                       Following Business Day Convention

         Fixed Amounts:

                  Fixed Rate Payer:                    Counterparty

                  Fixed Rate Payer
                  Payment Date:                        31 July 2006,  subject to adjustment in accordance  with the
                                                       Following Business Day Convention

                  Fixed Amount:                        USD 729,500

         Floating Amounts:

                  Floating Rate Payer:                 CSIN

                  Floating Rate
                  Period End Dates:                    The 25th of each month,  commencing  on 25  September  2006,
                                                       and ending on the Termination  Date,  inclusive,  subject to
                                                       adjustment  in accordance  with the  Following  Business Day
                                                       Convention

                  Initial Floating Rate Payer
                  Calculation Period:                  From  and  including  25  August  2006 to but  excluding  25
                                                       September  2006,  subject to adjustment  in accordance  with
                                                       the Following Business Day Convention

                  Floating Rate
                  Payment Dates:                       One  Business  Day prior to each  Floating  Rate  Period End
                                                       Date

                  Cap Rate:                            See the Additional Terms provision of this Confirmation

                  Floating Rate Option:                USD-LIBOR-BBA, subject to a maximum rate of        8.788%

                  Designated Maturity:                 1 month

                  Spread:                              None

                  Floating Rate
                  Day Count Fraction:                  Actual/360

                  Reset Dates:                         The first day of each Calculation  Period,  commencing on 25
                                                       August 2006

                  Compounding:                         Inapplicable


         Business Days:                                New York

         Calculation Agent:                            CSIN


         Account Details:

                  Payments to CSIN:                    As advised separately in writing

                  Payments to Counterparty:            Wells Fargo Bank, N.A.
                                                       San Francisco, California
                                                       ABA 121-000-248
                                                       Account Number: 3970771416
                                                       Account Name: Corporate Trust Clearing
                                                       FFC:  50933003,  ARMT 2006-3,  Class  4-M/4-B  Interest Rate
                                                       Cap Account


For the purpose of facilitating  this  Transaction,  an Affiliate of CSIN,  which is organized in the United States
of  America  (the  "Agent"),  has acted as agent  for  CSIN.  The Agent is not a  principal  with  respect  to this
Transaction  and shall have no  responsibility  or  liability  to the parties as a principal  with  respect to this
Transaction.

Credit Suisse  International is authorized and regulated by the Financial  Services  Authority and has entered into
this  transaction  as  principal.  The time at which  the  above  transaction  was  executed  will be  notified  to
Counterparty on request.


                                  ADDITIONAL TERMS


-------------------------------------------------------------------------------------
  Calculation Period up to         Notional Amount:               Cap Rate:
  but excluding the Period
  End Date* scheduled to
  occur on:

-------------------------------------------------------------------------------------
     25-September-2006             USD 77,208,000                  6.053%
-------------------------------------------------------------------------------------
      25-October-2006              USD 77,208,000                  6.278%
-------------------------------------------------------------------------------------
      25-November-2006             USD 77,208,000                  6.053%
-------------------------------------------------------------------------------------
      25-December-2006             USD 77,208,000                  6.280%
-------------------------------------------------------------------------------------
      25-January-2007              USD 77,208,000                  6.054%
-------------------------------------------------------------------------------------
      25-February-2007             USD 77,208,000                  6.054%
-------------------------------------------------------------------------------------
       25-March-2007               USD 77,208,000                  6.779%
-------------------------------------------------------------------------------------
       25-April-2007               USD 77,208,000                  6.054%
-------------------------------------------------------------------------------------
        25-May-2007                USD 77,208,000                  6.280%
-------------------------------------------------------------------------------------
        25-June-2007               USD 77,208,000                  6.055%
-------------------------------------------------------------------------------------
        25-July-2007               USD 77,208,000                  6.280%
-------------------------------------------------------------------------------------
       25-August-2007              USD 77,208,000                  6.055%
-------------------------------------------------------------------------------------
     25-September-2007             USD 77,208,000                  6.054%
-------------------------------------------------------------------------------------
      25-October-2007              USD 77,208,000                  6.280%
-------------------------------------------------------------------------------------
      25-November-2007             USD 77,208,000                  6.056%
-------------------------------------------------------------------------------------
      25-December-2007             USD 77,208,000                  6.281%
-------------------------------------------------------------------------------------
      25-January-2008              USD 77,208,000                  6.056%
-------------------------------------------------------------------------------------
      25-February-2008             USD 77,208,000                  6.056%
-------------------------------------------------------------------------------------
       25-March-2008               USD 77,208,000                  6.511%
-------------------------------------------------------------------------------------
       25-April-2008               USD 77,208,000                  6.045%
-------------------------------------------------------------------------------------
        25-May-2008                USD 77,208,000                  6.270%
-------------------------------------------------------------------------------------
        25-June-2008               USD 77,208,000                  6.044%
-------------------------------------------------------------------------------------
        25-July-2008               USD 77,208,000                  6.270%
-------------------------------------------------------------------------------------
       25-August-2008              USD 77,208,000                  6.044%
-------------------------------------------------------------------------------------
     25-September-2008             USD 77,208,000                  6.045%
-------------------------------------------------------------------------------------
      25-October-2008              USD 77,208,000                  6.270%
-------------------------------------------------------------------------------------
      25-November-2008             USD 77,208,000                  6.045%
-------------------------------------------------------------------------------------
      25-December-2008             USD 77,208,000                  6.270%
-------------------------------------------------------------------------------------
      25-January-2009              USD 77,208,000                  6.045%
-------------------------------------------------------------------------------------
      25-February-2009             USD 77,208,000                  6.047%
-------------------------------------------------------------------------------------
       25-March-2009               USD 77,208,000                  6.762%
-------------------------------------------------------------------------------------
       25-April-2009               USD 77,208,000                  6.038%
-------------------------------------------------------------------------------------
        25-May-2009                USD 77,208,000                  6.265%
-------------------------------------------------------------------------------------
        25-June-2009               USD 77,208,000                  6.041%
-------------------------------------------------------------------------------------
        25-July-2009               USD 77,208,000                  6.266%
-------------------------------------------------------------------------------------
       25-August-2009              USD 77,208,000                  6.041%
-------------------------------------------------------------------------------------
     25-September-2009             USD 72,422,217                  6.041%
-------------------------------------------------------------------------------------
      25-October-2009              USD 71,067,478                  6.266%
-------------------------------------------------------------------------------------
      25-November-2009             USD 69,737,950                  6.041%
-------------------------------------------------------------------------------------
      25-December-2009             USD 68,433,165                  6.266%
-------------------------------------------------------------------------------------
      25-January-2010              USD 67,152,664                  6.041%
-------------------------------------------------------------------------------------
      25-February-2010             USD 65,895,997                  6.041%
-------------------------------------------------------------------------------------
       25-March-2010               USD 64,662,722                  6.764%
-------------------------------------------------------------------------------------
       25-April-2010               USD 63,452,405                  6.041%
-------------------------------------------------------------------------------------
        25-May-2010                USD 62,264,620                  6.266%
-------------------------------------------------------------------------------------
        25-June-2010               USD 61,098,949                  6.040%
-------------------------------------------------------------------------------------
        25-July-2010               USD 59,954,982                  6.265%
-------------------------------------------------------------------------------------
       25-August-2010              USD 58,832,316                  6.040%
-------------------------------------------------------------------------------------
     25-September-2010             USD 57,730,555                  6.040%
-------------------------------------------------------------------------------------
      25-October-2010              USD 56,649,313                  6.265%
-------------------------------------------------------------------------------------
      25-November-2010             USD 55,588,208                  6.040%
-------------------------------------------------------------------------------------
      25-December-2010             USD 54,546,867                  6.265%
-------------------------------------------------------------------------------------
      25-January-2011              USD 53,524,923                  6.040%
-------------------------------------------------------------------------------------
      25-February-2011             USD 51,918,240                  6.041%
-------------------------------------------------------------------------------------
       25-March-2011               USD 48,795,725                  6.773%
-------------------------------------------------------------------------------------
       25-April-2011               USD 47,741,899                  6.049%
-------------------------------------------------------------------------------------
        25-May-2011                USD 45,481,021                  6.264%
-------------------------------------------------------------------------------------
        25-June-2011               USD 39,922,429                  6.018%
-------------------------------------------------------------------------------------
        25-July-2011               USD 10,826,385                  6.865%
-------------------------------------------------------------------------------------

* Subject to adjustment in accordance with the Following Business Day Convention.



Please  confirm that the  foregoing  correctly  sets forth the terms of our agreement by executing the copy of this
Confirmation enclosed for that purpose and returning it to us.



                                                        Yours faithfully,

                                                        Credit Suisse International




                                                         By:_____________________________
                                                            Name:
                                                            Title:







Confirmed as of the date first written above:

Wells Fargo Bank, N.A., not in its individual or corporate capacity but
solely as Trust Administrator on behalf of the Adjustable Rate Mortgage
Trust 2006-3


By:________________________________
     Name:
     Title:






Our Reference No: External ID:  53137793N3 / Risk ID: 447505488, 447505490