8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) September 29, 2006

IMPAC SECURED ASSETS CORP. (as company under a Pooling and Servicing Agreement, dated as of September 1, 2006, providing for, inter alia, the issuance of Mortgage Pass-Through Certificates, Series 2006-3)

Impac Secured Assets Corp.

(Exact name of registrant as specified in its charter)

California	333-131328-02	33-0715871
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)
1401 Dove Street Newport Beach, California		92660
(Address of Principal Executive Offices)		(Zip Code)

Registrants telephone number, including area code, is (949) 475-3600

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[_] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[_] Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))

[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.01.             Completion of Acquisition or Disposition of Assets.

On September 29, 2006, a single series of certificates, entitled Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2006-3 (the “Certificates”), were issued pursuant to a Pooling and Servicing Agreement, dated as of September 1, 2006 (the “Agreement”) among Impac Secured Assets Corp., as depositor, Impac Funding Corporation, as master servicer and Deutsche Bank National Trust Company, as trustee (the “Trustee”).

Item 8.01.             Other Events.

Description of the Mortgage Pool.

Item 9.01.             Financial Statements and Exhibits.

(a) Not applicable

(b) Not applicable

(c) Exhibits:

Exhibit No.	Description
99.1	Characteristics of the Mortgage Pool as of September 1, 2006, relating to Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2006-3.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on behalf of the Registrant by the undersigned thereunto duly authorized.

IMPAC SECURED ASSETS CORP.
By:	/s/ Gretchen Verdugo
	Name:Gretchen Verdugo Title: EVP, CFO

Dated:October 13, 2006

EXHIBIT INDEX

Exhibit No.	Description
99.1	Characteristics of the Mortgage Pool as of September 1, 2006, relating to Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2006-3.

EX-99.1

EXHIBIT 99.1

THE MORTGAGE POOL

General

References to percentages of the mortgage loans unless otherwise noted are calculated based on the aggregate principal balance of the mortgage loans as of the Cut-off Date.

The mortgage pool will consist of one- to four-family, adjustable-rate residential mortgage loans secured by first liens on mortgaged properties and fixed-rate residential mortgage loans secured by first and second liens on mortgaged properties. The mortgage loans will have original terms to maturity of not greater than 30 years.

The Sponsor will convey the mortgage loans to the Depositor on the Closing Date pursuant to the Mortgage Loan Purchase Agreement and the Depositor will convey the mortgage loans to the trust on the Closing Date pursuant to the Agreement. The Sponsor will make certain representations and warranties with respect to the initial mortgage loans in the Mortgage Loan Purchase Agreement. These representations and warranties will be assigned by the Depositor to the Trustee for the benefit of the Certificateholders and the Certificate Insurer. As more particularly described in the prospectus, the Sponsor will have certain repurchase or substitution obligations in connection with a breach of any such representation or warranty, as well as in connection with an omission or defect in respect of certain constituent documents required to be delivered with respect to the mortgage loans, if such breach, omission or defect cannot be cured and it materially and adversely affects the interests of the Certificateholders or the Certificate Insurer. In the event the Sponsor fails to repurchase a mortgage loan, Impac Holdings will be required to do so. See “The Mortgage Pools—Representations by Sellers” in the prospectus.

The mortgage loans will have been originated or acquired by the Sponsor in accordance with the underwriting criteria described in this prospectus supplement. See “—Underwriting Criteria” below.

All of the mortgage loans will initially be subserviced by Countrywide Home Loans. The subservicing with respect to the fixed-rate mortgage loans will be transferred to GMAC Mortgage Corporation or an affiliate thereof on or about December 1, 2006, as described under “Pooling and Servicing Agreement—The Subservicers” in this prospectus supplement.

All of the mortgage loans have scheduled monthly payments due on the Due Date. Each mortgage loan will contain a customary “due-on-sale” clause.

Mortgage Rate Adjustment

The mortgage rate on the adjustable-rate mortgage loans will adjust monthly, semi-annually and annually commencing after an initial period after origination of three months, six months, one year, two years, three years, five years, seven years or ten years, as applicable, in each case on each applicable adjustment date to a rate equal to the sum, generally rounded to the nearest one-eighth of one percentage point (12.5 basis points), of (i) the related index and (ii) the gross margin. In addition, the mortgage rate on each adjustable-rate mortgage loan is subject on its first adjustment date following its origination to an initial rate cap and on each adjustment date thereafter to a periodic rate cap. All of the adjustable-rate mortgage loans are also subject to maximum and minimum lifetime mortgage rates. The adjustable-rate mortgage loans were generally originated with an initial mortgage rate below the sum of the index at origination and the gross margin. Due to the application of the initial rate caps, periodic rate caps, maximum mortgage rates and minimum mortgage rates, the mortgage rate on any adjustable-rate mortgage loan, as adjusted on any related adjustment date, may not equal the sum of the index and the gross margin.

The mortgage rate on a majority of the adjustable-rate mortgage loans adjusts based on an index equal to Six-Month LIBOR. In the event that the related index is no longer available, an index that is based on comparable information will be selected by the Master Servicer, to the extent that it is permissible under the terms of the related mortgage and mortgage note.

Substantially all of the adjustable-rate mortgage loans will not have reached their first adjustment date as of the Closing Date. The initial mortgage rate is generally lower than the rate that would have been produced if the applicable gross margin had been added to the index in effect at origination. Adjustable-rate mortgage loans that have not reached their first adjustment date are subject to the initial rate cap on their first adjustment date, and periodic rate caps thereafter.

Indices on the Mortgage Loans

The index applicable to the determination of the mortgage rate on approximately 79.80%, (by aggregate outstanding principal balance of the adjustable-rate mortgage loans as of the Cut-off Date)of the mortgage loans is the average of the interbank offered rates for six-month United States dollar deposits in the London market as published by Fannie Mae or The Wall Street Journal and, in most cases, as most recently available as of the first business day of the month preceding such adjustment date, or Six-Month LIBOR.

The table below sets forth historical average rates of Six-Month LIBOR for the months indicated as made available from Fannie Mae. The rates are determined from information that is available as of 11:00 a.m. (London time) on the second to last business day of each month. Such average rates may fluctuate significantly from month to month as well as over longer periods and may not increase or decrease in a constant pattern from period to period. There can be no assurance that levels of Six-Month LIBOR published by Fannie Mae, or published on a different reference date would have been at the same levels as those set forth below. The following does not purport to be representative of future levels of Six-Month LIBOR (as published by Fannie Mae). No assurance can be given as to the level of Six-Month LIBOR on any adjustment date or during the life of any adjustable-rate mortgage loan based on Six-Month LIBOR.

SIX-MONTH LIBOR
MONTH	1998	1999	2000	2001	2002	2003	2004	2005	2006
January	5.75%	5.04%	6.23%	5.36%	1.99%	1.35%	1.21%	2.96%	4.81%
February	5.78	5.17	6.32	4.96	2.06	1.34	1.17	3.15	4.99
March	5.80	5.08	6.53	4.71	2.33	1.26	1.16	3.39	5.12
April	5.87	5.08	6.61	4.23	2.10	1.29	1.37	3.42	5.29
May	5.81	5.19	7.06	3.91	2.09	1.22	1.58	3.53	5.32
June	5.87	5.62	7.01	3.83	1.95	1.12	1.94	3.69	5.64
July	5.82	5.65	6.88	3.70	1.86	1.15	1.99	3.92	5.55
August	5.69	5.90	6.83	3.48	1.82	1.21	1.99	4.08	5.45
September	5.36	5.96	6.76	2.53	1.75	1.18	2.17	4.22
October	5.13	6.13	6.72	2.17	1.62	1.22	2.30	4.45
November	5.28	6.04	6.68	2.10	1.47	1.23	2.62	4.58
December	5.17	6.13	6.20	1.98	1.38	1.22	2.78	4.69

The index applicable to the determination of the mortgage rate on approximately 19.73% (by aggregate outstanding principal balance of the adjustable-rate mortgage loans as of the Cut-off Date) of the mortgage loans is the average of the interbank offered rates for one-year United States dollar deposits in the London market as published by Fannie Mae or The Wall Street Journal and, in most cases, as most recently available as of the first business day of the month preceding such adjustment date, or One-Year LIBOR.

The index applicable to the determination of the mortgage rate on approximately 0.09% (by aggregate outstanding principal balance of the adjustable-rate mortgage loans as of the Cut-off Date) of the mortgage loans will be based on One-Month LIBOR. One-Month LIBOR will be a per annum rate equal to the average of interbank offered rates for one-month U.S. dollar-denominated deposits in the London market based on quotations of major banks as published in The Wall Street Journal and are most recently available as of the time specified in the related mortgage note.

The index applicable to the determination of the mortgage rate on approximately 0.38% (by aggregate outstanding principal balance of the adjustable-rate mortgage loans as of the Cut-off Date) of the adjustable-rate mortgage loans will be based on the weekly average yield on U.S. Treasury securities adjusted to a constant maturity of one year as reported by the Federal Reserve Board in statistical Release No. H.15(519), as most recently available as of the date forty-five days, thirty-five days or thirty days prior to the adjustment date or on the adjustment date, as published in the place specified in the related mortgage note and as made available as of the date specified in the related mortgage note, or One-Year CMT.

Prepayment Charges

Approximately 58.81% of the mortgage loans provide for payment by the mortgagor of a prepayment charge in limited circumstances on prepayments. Generally, these mortgage loans provide for payment of a prepayment charge on partial or full prepayments made within six months to five years or other period as provided in the related mortgage note from the date of origination of the mortgage loan. The amount of the prepayment charge is as provided in the related mortgage note, and the prepayment charge will generally apply if, in any period during the first year or other period as provided in the related mortgage note from the date of origination of the mortgage loan, the mortgagor prepays an aggregate amount exceeding 20% of the original principal balance of the mortgage loan. The amount of the prepayment charge will generally be equal to 6 months’ interest calculated on the basis of the mortgage rate in effect at the time of the prepayment on the amount prepaid in excess of 20% of the original principal balance of the mortgage loan. The holders of the Class P Certificates will be entitled to all prepayment charges received on the mortgage loans, and these amounts will not be available for distribution on the other classes of certificates. The Master Servicer may waive the collection of any otherwise applicable prepayment charge or reduce the amount thereof actually collected, but only if the Master Servicer does so in compliance with the prepayment charge waiver standards set forth in the Agreement. If the Master Servicer waives any prepayment charge other than in accordance with the standards set forth in the Agreement, the Master Servicer will be required to pay the amount of the waived prepayment charge. There can be no assurance that the prepayment charges will have any effect on the prepayment performance of the mortgage loans.

Primary Mortgage Insurance

Approximately 4.18% of the mortgage loans by aggregate outstanding principal balance as of the Cut-off Date have a loan-to-value ratio at origination in excess of 80%. Approximately 95.35% of those mortgage loans that have a loan-to-value ratio at origination in excess of 80% will be insured by one of the following: (1) a Primary Insurance Policy issued by a private mortgage insurer (other than a PMI Insurer Policy), or (2) the PMI Insurer Policy.

Each Primary Insurance Policy will insure against default under each insured mortgage note as follows: (A) for which the outstanding principal balance at origination of such mortgage loan is greater than or equal to 80.01% and up to and including 90.00% of the lesser of the Appraised Value and the sale price, such mortgage loan is covered in an amount equal to at least 6% of the Allowable Claim and (B) for which the outstanding principal balance at origination of such mortgage loan exceeded 90.00% of the lesser of the Appraised Value and the sale price, such mortgage loan is covered in an amount equal to at least 30% of the Allowable Claim.

See “Primary Mortgage Insurance, Hazard Insurance; Claims Thereunder — Hazard Insurance Policies” in the prospectus.

The PMI Insurer

Radian Guaranty Inc.

Radian Guaranty Inc., a Pennsylvania corporation with its principal offices in Philadelphia, Pennsylvania, is a private mortgage insurance company and a wholly-owned subsidiary of Radian Group Inc., an insurance holding company listed on the New York Stock Exchange. Radian is licensed in all 50 states and in the District of Columbia to offer such insurance and is approved as a private mortgage insurer by Fannie Mae and Freddie Mac. Radian’s financial strength is rated “AA” by S&P and Fitch Ratings and “Aa3” by Moody’s. Radian’s financial strength currently is not rated by any other rating agency. Each financial strength rating of Radian should be evaluated independently. The ratings reflect the respective rating agencies’ current assessments of the creditworthiness of Radian and its ability to pay claims on its policies of insurance. Any further explanation as to the significance of the above ratings may be obtained only from the applicable rating agency. The above ratings are not recommendations to buy, sell or hold any class of Offered Certificates, and such ratings are subject to revision, qualification or withdrawal at any time by the applicable rating agencies. Any downward revision, qualification or withdrawal of any of the above ratings may have an adverse effect on the market prices of the Offered Certificates. Radian does not guaranty the market prices of the Offered Certificates nor does it guaranty that its financial strength ratings will not be revised, qualified or withdrawn.

Copies of Radian’s quarterly and annual statutory financial statements, which are based on accounting principles that differ in significant respects from generally accepted accounting principles, are available upon request to Radian at Radian Guaranty Inc., 1601 Market Street, Philadelphia, Pennsylvania 19103. Radian’s telephone number is (215) 231 1000.

The PMI Policy

Approximately 1.71% of the mortgage loans as of the Cut-off Date, are insured by the PMI Insurer pursuant to the PMI Insurer Policy. The mortgage loans covered by the PMI Insurer Policy are referred to as the PMI Mortgage Loans. The insured percentage of the claim varies on a loan-by-loan basis based upon the original loan-to-value ratio of the related mortgage loan.

The PMI Insurer Policy will only cover those mortgage loans which meet certain underwriting criteria as determined by the PMI Insurer. The PMI Insurer Policy will be required to remain in force with respect to each PMI Mortgage Loan until (i) the principal balance of the PMI Mortgage Loan is paid in full or liquidated, (ii) upon written notice of cancellation of the PMI Insurer Policy from the insured to the PMI Insurer, (iii) upon written notice of cancellation of the PMI Insurer Policy from the PMI Insurer to the insured or (iv) any event specified in the PMI Insurer Policy occurs that allows for the termination of that PMI Insurer Policy by the PMI Insurer.

The PMI Insurer Policy generally will require that delinquencies on any PMI Mortgage Loan must be reported to the PMI Insurer within fifteen (15) days after such loan is three (3) months in default, and appropriate proceedings to obtain title to the property securing such PMI Mortgage Loan must be commenced within six months of default. The PMI Policy under which the PMI Mortgage Loans are insured will contain provisions substantially as follows: (i) a claim generally includes unpaid principal, accrued interest to the date such claim is presented by the insured, and certain advances and expenses as set forth in the PMI Insurer Policy; (ii) when a claim is presented the PMI Insurer will have the option of either (A) paying the claim in full, taking title to the property securing the PMI Mortgage Loan, and arranging for its sale or (B) paying the insured percentage of the claim with the insured retaining title to the property securing the PMI Mortgage Loan; and (iii) a claim generally must be paid within 60 days after the claim is filed by the insured.

Unless approved in writing by the PMI Insurer, the insured under the PMI Insurer Policy will not be permitted to make any change in the terms of a PMI Mortgage Loan, including the borrowed amount, mortgage rate, term or amortization schedule of the PMI Mortgage Loan, except as specifically permitted by the terms of the related PMI Mortgage Loan; nor make any change in the property or other collateral securing the PMI Mortgage Loan; nor release any mortgagor under the PMI Mortgage Loan from liability. If a PMI Mortgage Loan is assumed with the insured’s approval, the PMI Insurer’s liability for coverage of the PMI Mortgage Loan under the related PMI Insurer Policy generally will terminate as of the date of such assumption, unless the applicable PMI Insurer approves the assumption in writing.

The PMI Insurer Policy specifically excludes coverage of: (i) any claim resulting from a default existing at the inception of coverage or occurring after lapse or cancellation of coverage; and (ii) certain claims involving or arising out of any breach by the insured of its obligations under, or its failure to comply with the terms of, the PMI Insurer Policy or of its obligations as imposed by operation of law and (iii) certain other claims as set forth in the PMI Insurer Policy.

In issuing the PMI Insurer Policy, the PMI Insurer will rely upon certain information and data regarding the PMI Mortgage Loans furnished to the PMI Insurer by the originator. The PMI Policy will not insure against a loss sustained by reason of a default arising from or involving certain matters, including (i) any loss arising in connection with the failure of the borrower to make any payment of principal and interest due under a loan which payment arises because the insured exercised its right to call or accelerate such loan or because the term of such loan is shorter than the amortization period, and which payment is for an amount more than twice the regular periodic payments of principal and interest, (ii) any loss from a loan where a delinquency exists at the effective date of the certificate of insurance, as defined in the PMI Insurer Policy, (iii) misrepresentation or fraud in obtaining such PMI Insurer Policy or negligence in origination or servicing of the PMI Mortgage Loans, including, but not limited to, misrepresentation by the lender or certain other persons involved in the origination of the PMI Mortgage Loan or the application for insurance, or (iv) failure to construct a property securing a PMI Mortgage Loan in accordance with specified plans. In addition, the PMI Insurer Policy will not cover the costs or expenses related to the repair of physical damage to a property securing a PMI Mortgage Loan.

The preceding description of the PMI Policy is only a brief outline and does not purport to summarize or describe all of the provisions, terms and conditions of the PMI Insurer Policy. For a more complete description of these provisions, terms and conditions, reference is made to the PMI Insurer Policy, copies of which are available upon request from the Trustee.

Mortgage Loan Characteristics

The mortgage pool is composed of 7,154 mortgage loans. References to percentages of the mortgage loans unless otherwise noted are calculated based on the aggregate principal balance of the mortgage loans as of the Cut-off Date.

The original mortgages for some of the mortgage loans have been, or in the future may be, at the sole discretion of the Master Servicer, recorded in the name of Mortgage Electronic Registration Systems, Inc., or MERS, solely as nominee for the Sponsor and its successors and assigns, and subsequent assignments of those mortgages have been, or in the future may be, at the sole discretion of the Master Servicer, registered electronically through the MERS® System. In some other cases, the original mortgage was recorded in the name of the originator of the mortgage loan, record ownership was later assigned to MERS, solely as nominee for the owner of the mortgage loan, and subsequent assignments of the mortgage were, or in the future may be, at the sole discretion of the Master Servicer, registered electronically through the MERS® System. For each of these mortgage loans, MERS serves as mortgagee of record on the mortgage solely as a nominee in an administrative capacity on behalf of the trustee, and does not have any interest in the mortgage loan. Some of the mortgage loans were recorded in the name of MERS. For additional information regarding the recording of mortgages in the name of MERS see “Yield on the Certificates—Yield Sensitivity of the Offered Certificates” in this prospectus supplement.

The mortgage loans had an aggregate principal balance as of the Cut-off Date of approximately $1,993,955,770, after application of scheduled payments due on or before the Cut-off Date, whether or not received. As of the Cut-off Date, approximately 15.43% of the mortgage loans have fixed rates and are secured by first liens on the related mortgaged property. Approximately 81.12% of the mortgage loans have adjustable rates and are secured by first liens on the related mortgaged property. Approximately 3.44% of the mortgage loans have fixed rates and are secured by second liens on the related mortgaged property.

The average principal balance of the mortgage loans at origination was approximately $279,087. No mortgage loan had a principal balance at origination of less than approximately $20,000 or greater than approximately $1,980,000. The average principal balance of the mortgage loans as of the Cut-off Date was approximately $278,719. No mortgage loan had a principal balance as of the Cut-off Date of less than approximately $19,987 or greater than approximately $1,980,000.

As of the Cut-off Date, the mortgage loans had mortgage rates ranging from approximately 4.625% per annum to approximately 16.000% per annum and the weighted average mortgage rate was approximately 7.432% per annum. The weighted average remaining term to stated maturity of the mortgage loans was approximately 351 months as of the Cut-off Date. None of the mortgage loans will have a first Due Date prior to June 1, 2002, or after November 1, 2006, or will have a remaining term to maturity of less than 98 months or greater than 360 months as of the Cut-off Date. The latest maturity date of any mortgage loan is October 1, 2036.

Approximately 0.01%, 0.06%, 35.11%, 0.99% and 42.76% of the mortgage loans have initial interest only periods of two, three, five, seven and ten years, respectively.

The loan-to-value ratio of a mortgage loan secured by a first lien is equal to the ratio, expressed as a percentage, of the principal amount of the loan at origination, to the lesser of the appraised value of the related mortgaged property at the time of origination and the sales price. The combined loan-to-value ratio of a mortgage loan secured by a second lien is equal to the ratio, expressed as a percentage, of the principal amount of the loan at origination, plus the outstanding principal balance of the related senior lien, to the appraised value of the related mortgaged property at the time of origination. At origination, the weighted average of the loan-to-value ratios and combined loan-to-value ratios, as applicable, of the mortgage loans was approximately 75.93%. At origination, no loan-to-value ratio or combined loan-to-value ratio, as applicable, of any mortgage loan was greater than approximately 100% or less than approximately 11.26%.

Approximately 1092 of the mortgage loans, in the aggregate, representing approximately 6.23% of the mortgage pool (by aggregate outstanding principal balance as of the Cut-off Date) are balloon loans. The amount of the balloon payment on each of these mortgage loans is substantially in excess of the amount of the scheduled monthly payment on such mortgage loan for the period prior to the Due Date of the balloon payment. These mortgage loans have a weighted average remaining amortization term of approximately 266 months.

None of the mortgage loans are buydown mortgage loans.

None of the mortgage loans will be subject to the Home Ownership and Equity Protection Act of 1994 or any comparable state law.

Substantially all of the mortgage loans will not have reached their first adjustment date as of the Closing Date.

Approximately 58.81% of the mortgage loans provide for prepayment charges.

With respect to substantially all of the adjustable-rate mortgage loans, the minimum mortgage rate is equal to the gross margin.

As of the Closing Date, no loan-to-value ratio or combined loan-to-value ratio, as applicable, of any mortgage loan will be greater than 100.00%.

None of the mortgage loans were 30 days or more delinquent as of the Cut-off Date. As used in this prospectus supplement, a loan is considered to be “30 to 59 days” or “30 or more days” delinquent when a payment due on any Due Date remains unpaid as of the close of business on the next following monthly Due Date. However, since the determination as to whether a loan falls into this category is made as of the close of business on the last business day of each month, a loan with a payment due on July 1 that remained unpaid as of the close of business on July 31 would still be considered current as of July 31. If that payment remained unpaid as of the close of business on August 31, the loan would then be considered to be 30 to 59 days delinquent. Delinquency information presented in this prospectus supplement as of the Cut-off Date is determined and prepared as of the close of business on the last business day immediately prior to the Cut-off Date.

Set forth below is a description of certain additional characteristics of the mortgage loans as of the Cut-off Date, except as otherwise indicated. All percentages of the mortgage loans are approximate percentages by aggregate principal balance as of the Cut-off Date, except as otherwise indicated. Dollar amounts and percentages may not add up to totals due to rounding.

Mortgage Loan Programs⁽¹⁾

Loan Programs	Current Balance		No. of Loans		% of Total			Average Balance		Weighted Average Gross Wac			Weighted Average Remg. Term (Months)		Weighted Average Non-Zero Credit Score		Weighted Average Original Ltv(2)
15YR FIXED	$	10,216,505		60		0.51	%	$	170,275		6.949	%		166		688		62.10	%
20YR FIXED		280,336		1		0.01			280,336		8.375			238		665		75.00
30YR FIXED		137,717,717		655		6.91			210,256		7.699			348		690		72.59
40/30 FIXED BALLOON		10,499,962		35		0.53			299,999		7.963			358		661		74.44
30/15 FIXED BALLOON		62,013,008		839		3.11			73,913		12.047			179		685		95.98
30/15 FIXED BALLOON - IO		3,426,177		36		0.17			95,172		12.341			178		679		98.90
15YR FIXED - IO		827,650		11		0.04			75,241		12.355			178		667		96.05
30YR FIXED - IO		151,397,471		535		7.59			282,986		7.793			358		694		73.89
30Y LIB1M		272,775		2		0.01			136,387		6.971			358		728		73.65
30Y LIB1M - IO		1,117,484		3		0.06			372,495		7.209			358		723		73.50
30Y LIB6M		829,683		2		0.04			414,841		6.929			359		709		60.76
30Y LIB6M - IO		4,673,648		14		0.23			333,832		7.440			357		681		73.45
30Y LIB12M		352,992		3		0.02			117,664		8.053			357		742		75.60
30Y LIB12M - IO		5,919,024		13		0.30			455,310		7.175			357		733		70.54
2/28 LIB6M		8,571,030		39		0.43			219,770		8.160			358		694		77.47
2/28 LIB6M 40/30 BALLOON		953,732		5		0.05			190,746		7.996			358		673		72.43
2/28 LIB6M - IO		33,599,564		122		1.69			275,406		7.770			358		691		75.88
3/27 LIB6M		7,826,469		33		0.39			237,166		7.125			358		692		75.79
3/27 LIB6M 40/30 BALLOON		5,864,756		21		0.29			279,274		7.443			358		679		80.84
3/27 LIB6M - IO		101,840,516		299		5.11			340,604		6.887			358		706		74.79
3/1 LIB12M		433,719		1		0.02			433,719		6.625			357		669		73.73
3/1 LIB12M - IO		4,834,462		15		0.24			322,297		6.903			358		710		76.30
5/25 LIB6M		98,275,291		396		4.93			248,170		7.511			359		690		76.73
5/25 LIB6M 40/30 BALLOON		41,535,566		156		2.08			266,254		7.455			359		684		78.33
5/25 LIB6M - IO		897,507,962		2,728		45.01			328,999		7.242			359		697		75.66
5/1 LIB12M		23,983,910		89		1.20			269,482		6.973			358		709		71.18
5/1 LIB12M - IO		260,535,876		763		13.07			341,462		6.974			358		709		76.55
5/1 CMT1Y		789,979		4		0.04			197,495		6.533			358		758		80.00
5/1 CMT1Y - IO		2,996,240		4		0.15			749,060		6.762			359		750		74.29
7/23 LIB6M		7,690,988		21		0.39			366,238		6.735			359		723		71.55
7/23 LIB6M - IO		62,541,629		151		3.14			414,183		6.922			359		717		73.61
7/1 LIB12M		968,072		4		0.05			242,018		6.457			358		727		62.20
7/1 LIB12M - IO		15,278,058		41		0.77			372,636		6.781			358		712		75.68
7/1 CMT1Y - IO		1,183,200		2		0.06			591,600		6.737			359		700		73.17
10/20 LIB6M		1,151,018		4		0.06			287,755		6.803			360		689		58.91
10/20 LIB6M - IO		18,043,600		35		0.90			515,531		7.111			358		720		75.68
10/1 LIB12M - IO		6,778,700		10		0.34			677,870		6.814			358		732		71.44
10/1 CMT1Y - IO		1,227,000		2		0.06			613,500		6.577			359		724		73.11
TOTAL	$	1,993,955,770		7,154		100.00	%	$	278,719		7.432	%		351		698		75.93	%

____________

⁽¹⁾A mortgage loan with a loan program of “15Yr Fixed”, “20Yr Fixed” or “30Yr Fixed” is a fixed-rate loan with a term of 15, 20 or 30 years, respectively. A mortgage loan with a loan program of “40/30 Fixed Balloon” has a term of 40 years, has a mortgage rate that is fixed for the entire term and requires a balloon payment in year 30. A mortgage loan with a loan program of “30/15 Fixed Balloon” has a term of 30 years, has a mortgage rate that is fixed for the entire term and requires a balloon payment in year 15. A mortgage loan with a loan program including the term “30Y LIB1M” has a term of 30 years and the mortgage rate adjusts monthly based on the value of One-Month LIBOR. A mortgage loan with a loan program including the term “30Y LIB6M” has a term of 30 years and the mortgage rate adjusts semi-annually based on the value of Six-Month LIBOR. A mortgage loan with a loan program including the term “30Y LIB12M” has a term of 30 years and the mortgage rate adjusts annually based on the value of One-Year LIBOR. A mortgage loan with a loan program including the term “2/28 LIB6M” has a term of 30 years, the first two of which consist of a fixed rate period, and thereafter the mortgage rate adjusts semi-annually based on the value of Six-Month LIBOR. A mortgage loan with a loan program including the term “3/27 LIB6M” has a term of 30 years, the first three of which consist of a fixed rate period, and thereafter the mortgage rate adjusts semi-annually based on the value of Six-Month LIBOR. A mortgage loan with a loan program including the term “3/1 LIB12M” has a term of 30 years, the first three of which consist of a fixed rate period, and thereafter the mortgage rate adjusts annually based on the value of One-Year LIBOR. A mortgage loan with a loan program including the term “5/25 LIB6M” has a term of 30 years, the first five of which consist of a fixed rate period, and thereafter the mortgage rate adjusts semi-annually based on the value of Six-Month LIBOR. A mortgage loan with a loan program including the term “5/1 LIB12M” has a term of 30 years, the first five of which consist of a fixed rate period, and thereafter the mortgage rate adjusts annually based on the value of One-Year LIBOR. A mortgage loan with a loan program including the term “7/23 LIB6M” has a term of 30 years, the first seven of which consist of a fixed rate period, and thereafter the mortgage rate adjusts semi-annually based on the value of Six-Month LIBOR. A mortgage loan with a loan program including the term “7/1 LIB12M” has a term of 30 years, the first seven of which consist of a fixed rate period, and thereafter the mortgage rate adjusts annually based on the value of One-Year LIBOR. A mortgage loan with a loan program including the term “7/1 CMT1Y” has a term of 30 years, the first seven of which consist of a fixed rate period, and thereafter the mortgage rate adjusts annually based on the value of One-Year CMT. A mortgage loan with a loan program including the term “10/20 LIB6M” has a term of 30 years, the first ten of which consist of a fixed rate period, and thereafter the mortgage rate adjusts semi-annually based on the value of Six-Month LIBOR. A mortgage loan with a loan program including the term “10/1 LIB12M” has a term of 30 years, the first ten of which consist of a fixed rate period, and thereafter the mortgage rate adjusts annually based on the value of One-Year LIBOR. A mortgage loan with a loan program including the term “10/1 CMT1Y” has a term of 30 years, the first ten of which consist of a fixed rate period, and thereafter the mortgage rate adjusts annually based on the value of One-Year CMT. A mortgage loan with a loan program including the term “IO” has an interest only period.

⁽²⁾Combined loan-to-value ratios with respect to the mortgage loans secured by second liens.

Principal Balances as of Origination

Range of Mortgage Loan Principal Balances ($)	Current Balance		No. of Loans		% of Total			Average Balance		Weighted Average Gross Wac			Weighted Average Remg. Term (Months)		Weighted Average Non-Zero Credit Score		Weighted Average Original Ltv(1)
0.01 - 50,000.00	$	12,639,868		358		0.63	%	$	35,307		12.267	%		188		689		93.64	%
50,000.01 - 100,000.00		50,295,419		652		2.52			77,140		10.123			257		687		85.35
100,000.01 - 150,000.00		110,640,613		883		5.55			125,301		8.215			328		695		76.55
150,000.01 - 200,000.00		166,307,602		950		8.34			175,061		7.704			346		695		75.75
200,000.01 - 250,000.00		196,385,949		877		9.85			223,929		7.444			355		693		75.68
250,000.01 - 300,000.00		213,592,909		776		10.71			275,249		7.309			356		697		76.46
300,000.01 - 350,000.00		201,617,218		620		10.11			325,189		7.254			357		696		76.20
350,000.01 - 400,000.00		193,918,877		517		9.73			375,085		7.238			356		694		76.31
400,000.01 - 450,000.00		177,232,940		417		8.89			425,019		7.177			358		700		76.43
450,000.01 - 500,000.00		170,055,100		358		8.53			475,014		7.188			357		702		75.96
500,000.01 - 550,000.00		109,076,763		209		5.47			521,898		7.227			358		701		75.73
550,000.01 - 600,000.00		89,235,847		155		4.48			575,715		7.169			358		706		76.78
600,000.01 - 650,000.00		76,515,920		121		3.84			632,363		7.114			359		703		74.97
650,000.01 - 700,000.00		30,572,546		45		1.53			679,390		7.017			355		704		75.17
700,000.01 - 750,000.00		64,585,646		88		3.24			733,928		7.255			358		700		72.58
750,000.01 - 800,000.00		16,322,164		21		0.82			777,246		6.969			359		742		70.60
800,000.01 - 850,000.00		15,873,792		19		0.80			835,463		7.029			358		710		74.26
850,000.01 - 900,000.00		13,205,127		15		0.66			880,342		6.880			347		693		70.62
900,000.01 - 950,000.00		7,415,000		8		0.37			926,875		7.030			358		696		75.59
950,000.01 - 1,000,000.00		28,755,507		29		1.44			991,569		7.106			359		715		66.94
1,000,000.01 - 1,050,000.00		1,050,000		1		0.05			1,050,000		6.500			358		727		70.00
1,050,000.01 - 1,100,000.00		3,248,750		3		0.16			1,082,917		7.041			359		695		72.67
1,100,000.01 - 1,150,000.00		1,120,000		1		0.06			1,120,000		7.250			360		669		70.00
1,150,000.01 - 1,200,000.00		4,751,255		4		0.24			1,187,814		7.062			359		740		71.64
1,200,000.01 - 1,250,000.00		3,710,000		3		0.19			1,236,667		7.164			358		693		68.15
1,250,000.01 - 1,300,000.00		5,057,031		4		0.25			1,264,258		7.405			358		694		70.26
1,300,000.01 - 1,350,000.00		3,992,500		3		0.20			1,330,833		6.958			358		700		66.99
1,350,000.01 - 1,400,000.00		2,752,000		2		0.14			1,376,000		6.500			359		700		74.91
1,400,000.01 - 1,450,000.00		2,860,000		2		0.14			1,430,000		8.124			359		688		68.68
1,450,000.01 - 1,500,000.00		8,869,478		6		0.44			1,478,246		7.208			359		706		67.75
1,550,000.01 - 1,600,000.00		3,184,700		2		0.16			1,592,350		6.850			360		680		70.00
1,650,000.01 - 1,700,000.00		1,657,500		1		0.08			1,657,500		7.625			358		744		65.00
1,700,000.01 - 1,750,000.00		1,723,750		1		0.09			1,723,750		7.000			357		682		70.00
1,850,000.01 - 1,900,000.00		3,754,000		2		0.19			1,877,000		6.688			360		671		74.97
1,950,000.01 - 2,000,000.00		1,980,000		1		0.10			1,980,000		6.500			359		776		60.00
TOTAL	$	1,993,955,770		7,154		100.00	%	$	278,719		7.432	%		351		698		75.93	%

⁽¹⁾ Combined loan-to-value ratios with respect to the mortgage loans secured by second liens.

As of origination, the average principal balance of the mortgage loans was approximately $279,087.

Principal Balances as of the Cut-off Date

Range of Mortgage Loan Principal Balances ($)	Current Balance		No. of Loans		% of Total			Average Balance		Weighted Average Gross Wac			Weighted Average Remg. Term (Months)		Weighted Average Non-Zero Credit Score		Weighted Average Original Ltv(1)
0.01 - 50,000.00	$	12,639,868		358		0.63	%	$	35,307		12.267	%		188		689		93.64	%
50,000.01 - 100,000.00		51,339,749		663		2.57			77,436		10.072			258		686		85.27
100,000.01 - 150,000.00		111,020,679		882		5.57			125,874		8.208			328		695		76.44
150,000.01 - 200,000.00		166,231,919		947		8.34			175,535		7.698			346		695		75.71
200,000.01 - 250,000.00		195,771,135		873		9.82			224,251		7.451			355		693		75.77
250,000.01 - 300,000.00		214,033,661		777		10.73			275,462		7.307			356		697		76.44
300,000.01 - 350,000.00		200,784,019		617		10.07			325,420		7.256			357		696		76.22
350,000.01 - 400,000.00		193,931,112		517		9.73			375,109		7.235			356		694		76.26
400,000.01 - 450,000.00		178,219,472		419		8.94			425,345		7.182			359		700		76.48
450,000.01 - 500,000.00		169,209,744		356		8.49			475,308		7.185			357		702		75.89
500,000.01 - 550,000.00		108,581,899		208		5.45			522,028		7.230			358		701		75.77
550,000.01 - 600,000.00		89,235,847		155		4.48			575,715		7.169			358		706		76.78
600,000.01 - 650,000.00		76,515,920		121		3.84			632,363		7.114			359		703		74.97
650,000.01 - 700,000.00		31,267,331		46		1.57			679,725		7.006			354		705		74.28
700,000.01 - 750,000.00		63,890,860		87		3.20			734,378		7.264			358		700		72.99
750,000.01 - 800,000.00		16,322,164		21		0.82			777,246		6.969			359		742		70.60
800,000.01 - 850,000.00		15,873,792		19		0.80			835,463		7.029			358		710		74.26
850,000.01 - 900,000.00		13,205,127		15		0.66			880,342		6.880			347		693		70.62
900,000.01 - 950,000.00		7,415,000		8		0.37			926,875		7.030			358		696		75.59
950,000.01 - 1,000,000.00		28,755,507		29		1.44			991,569		7.106			359		715		66.94
1,000,000.01 - 1,050,000.00		1,050,000		1		0.05			1,050,000		6.500			358		727		70.00
1,050,000.01 - 1,100,000.00		3,248,750		3		0.16			1,082,917		7.041			359		695		72.67
1,100,000.01 - 1,150,000.00		1,120,000		1		0.06			1,120,000		7.250			360		669		70.00
1,150,000.01 - 1,200,000.00		4,751,255		4		0.24			1,187,814		7.062			359		740		71.64
1,200,000.01 - 1,250,000.00		3,710,000		3		0.19			1,236,667		7.164			358		693		68.15
1,250,000.01 - 1,300,000.00		5,057,031		4		0.25			1,264,258		7.405			358		694		70.26
1,300,000.01 - 1,350,000.00		3,992,500		3		0.20			1,330,833		6.958			358		700		66.99
1,350,000.01 - 1,400,000.00		2,752,000		2		0.14			1,376,000		6.500			359		700		74.91
1,400,000.01 - 1,450,000.00		2,860,000		2		0.14			1,430,000		8.124			359		688		68.68
1,450,000.01 - 1,500,000.00		8,869,478		6		0.44			1,478,246		7.208			359		706		67.75
1,550,000.01 - 1,600,000.00		3,184,700		2		0.16			1,592,350		6.850			360		680		70.00
1,650,000.01 - 1,700,000.00		1,657,500		1		0.08			1,657,500		7.625			358		744		65.00
1,700,000.01 - 1,750,000.00		1,723,750		1		0.09			1,723,750		7.000			357		682		70.00
1,850,000.01 - 1,900,000.00		3,754,000		2		0.19			1,877,000		6.688			360		671		74.97
1,950,000.01 - 2,000,000.00		1,980,000		1		0.10			1,980,000		6.500			359		776		60.00
TOTAL	$	1,993,955,770		7,154		100.00	%	$	278,719		7.432	%		351		698		75.93	%

⁽¹⁾ Combined loan-to-value ratios with respect to the mortgage loans secured by second liens.

As of the Cut-off Date, the average current principal balance of the mortgage loans was approximately $278,719.

Mortgage Rates

Range of Mortgage Rates (%)	Current Balance		No. of Loans		% of Total			Average Balance		Weighted Average Gross Wac			Weighted Average Remg. Term (Months)		Weighted Average Non-Zero Credit Score		Weighted Average Original Ltv(1)
4.500 - 4.999	$	854,178		3		0.04	%	$	284,726		4.720	%		358		715		79.91	%
5.000 - 5.499		1,905,207		6		0.10			317,535		5.311			250		749		47.75
5.500 - 5.999		34,825,065		94		1.75			370,479		5.797			354		726		71.24
6.000 - 6.499		159,320,987		445		7.99			358,025		6.272			356		717		71.16
6.500 - 6.999		575,817,863		1,685		28.88			341,732		6.745			357		709		73.54
7.000 - 7.499		461,750,327		1,459		23.16			316,484		7.186			357		699		75.21
7.500 - 7.999		411,614,810		1,430		20.64			287,843		7.694			357		689		76.71
8.000 - 8.499		139,346,381		546		6.99			255,213		8.167			356		679		78.32
8.500 - 8.999		88,401,829		348		4.43			254,028		8.676			357		678		79.50
9.000 - 9.499		28,764,832		116		1.44			247,973		9.167			358		670		80.46
9.500 - 9.999		14,689,621		70		0.74			209,852		9.695			346		679		84.80
10.000 - 10.499		4,764,538		42		0.24			113,441		10.289			282		707		88.13
10.500 - 10.999		9,478,656		98		0.48			96,721		10.765			225		703		93.66
11.000 - 11.499		7,862,513		94		0.39			83,644		11.232			221		696		93.97
11.500 - 11.999		15,138,953		181		0.76			83,641		11.728			200		685		95.99
12.000 - 12.499		11,323,690		149		0.57			75,998		12.257			185		683		96.37
12.500 - 12.999		15,463,803		201		0.78			76,934		12.726			196		669		95.79
13.000 - 13.499		7,269,287		99		0.36			73,427		13.189			199		667		94.03
13.500 - 13.999		3,544,347		56		0.18			63,292		13.697			198		648		97.42
14.000 - 14.499		1,181,641		19		0.06			62,192		14.151			186		652		94.95
14.500 - 14.999		564,937		10		0.03			56,494		14.585			210		651		95.67
15.000 - 15.499		20,369		1		0.00			20,369		15.400			350		640		90.00
15.500 - 15.999		21,192		1		0.00			21,192		15.500			177		643		95.00
16.000 - 16.499		30,743		1		0.00			30,743		16.000			178		683		95.00
TOTAL	$	1,993,955,770		7,154		100.00	%	$	278,719		7.432	%		351		698		75.93	%

⁽¹⁾ Combined loan-to-value ratios with respect to the mortgage loans secured by second liens.

As of the Cut-off Date, the weighted average mortgage rate of the mortgage loans was approximately 7.432% per annum.

Next Adjustment Date⁽¹⁾

Next Adjustment Date	Current Balance		No. of Loans		% of Total			Average Balance		Weighted Average Gross Wac			Weighted Average Remg. Term (Months)		Weighted Average Non-Zero Credit Score		Weighted Average Original Ltv(2)
October 2006	$	2,203,759		7		0.14	%	$	314,823		7.102	%		357		727		72.68	%
December 2006		1,909,100		4		0.12			477,275		7.305			357		656		71.19
January 2007		1,626,733		5		0.10			325,347		7.551			357		682		71.42
February 2007		861,248		3		0.05			287,083		7.575			359		703		75.22
March 2007		80,000		1		0.00			80,000		6.125			360		632		39.03
April 2007		1,656,194		4		0.10			414,048		6.971			356		712		71.09
June 2007		504,322		3		0.03			168,107		7.950			357		729		74.39
July 2007		4,324,250		10		0.27			432,425		7.248			358		742		70.47
January 2008		126,406		1		0.01			126,406		8.125			353		706		79.38
February 2008		146,400		1		0.01			146,400		9.625			353		640		80.00
March 2008		540,431		3		0.03			180,144		8.646			354		663		84.16
April 2008		3,608,803		14		0.22			257,772		8.349			355		688		77.81
May 2008		4,556,261		19		0.28			239,803		8.028			356		688		73.92
June 2008		8,287,917		35		0.51			236,798		7.778			357		688		77.11
July 2008		13,415,021		50		0.83			268,300		7.431			358		693		74.74
August 2008		6,544,909		28		0.40			233,747		8.103			359		686		76.05
September 2008		5,195,778		12		0.32			432,981		8.092			360		707		77.43
October 2008		702,400		3		0.04			234,133		7.944			360		693		80.00
April 2009		1,344,909		4		0.08			336,227		6.896			355		710		73.39
May 2009		5,797,417		18		0.36			322,079		7.062			356		706		78.15
June 2009		30,274,276		86		1.87			352,026		6.854			357		709		75.21
July 2009		43,105,555		138		2.66			312,359		7.014			358		701		75.30
August 2009		21,583,755		65		1.33			332,058		7.073			359		701		75.61
September 2009		17,575,210		54		1.09			325,467		6.628			360		706		73.60
October 2009		1,118,800		4		0.07			279,700		6.937			360		666		75.58
October 2010		384,732		1		0.02			384,732		7.500			349		643		80.00
December 2010		1,018,677		3		0.06			339,559		7.255			351		722		75.53
February 2011		2,623,793		13		0.16			201,830		6.695			353		725		69.44
March 2011		5,459,548		24		0.34			227,481		6.898			354		718		71.99
April 2011		12,339,197		44		0.76			280,436		7.144			355		705		77.32
May 2011		18,416,472		64		1.14			287,757		7.322			356		700		76.96
June 2011		96,504,990		332		5.97			290,678		7.208			357		697		76.67
July 2011		440,527,168		1,452		27.23			303,393		7.229			358		699		77.11
August 2011		328,250,720		973		20.29			337,359		7.283			359		699		75.26
September 2011		353,593,232		1,019		21.86			347,000		7.131			360		699		75.21
October 2011		66,506,297		215		4.11			309,332		7.169			360		687		73.95
March 2013		429,000		2		0.03			214,500		6.677			354		760		60.44
April 2013		304,450		1		0.02			304,450		7.875			355		699		89.99
May 2013		3,790,490		8		0.23			473,811		6.624			356		712		64.28
June 2013		11,392,206		33		0.70			345,218		6.888			357		712		76.71
July 2013		27,317,454		64		1.69			426,835		6.893			358		712		73.50
August 2013		21,338,540		55		1.32			387,973		6.966			359		719		73.20
September 2013		22,249,257		54		1.38			412,023		6.779			360		722		74.13
October 2013		840,550		2		0.05			420,275		7.035			360		720		80.00
May 2016		1,762,100		4		0.11			440,525		6.856			356		665		76.16
June 2016		6,465,050		11		0.40			587,732		6.821			357		751		75.10
July 2016		9,752,150		16		0.60			609,509		7.142			358		722		73.61
August 2016		6,356,591		14		0.39			454,042		7.104			359		708		72.34
September 2016		2,864,427		6		0.18			477,405		6.777			360		724		73.28
Total	$	1,617,576,944		4,982		100.00	%	$	324,684		7.185	%		359		700		75.68	%

⁽¹⁾ excludes the fixed-rate mortgage loans

⁽²⁾ Combined loan-to-value ratios with respect to the mortgage loans secured by second liens.

As of the Cut-off Date, the weighted average remaining months to the next adjustment date of the adjustable-rate mortgage loans was approximately 58 months.

Gross Margin⁽¹⁾

Range of Gross Margins (%)	Current Balance		No. of Loans		% of Total			Average Balance		Weighted Average Gross Wac			Weighted Average Remg. Term (Months)		Weighted Average Non-Zero Credit Score		Weighted Average Original Ltv(2)
1.500 - 1.749	$	187,200		1		0.01	%	$	187,200		6.125	%		359		625		80.00	%
1.750 - 1.999		2,664,764		3		0.16			888,255		6.600			358		755		77.75
2.250 - 2.499		423,066,923		1,131		26.15			374,064		6.880			358		718		75.49
2.500 - 2.749		5,903,672		16		0.36			368,980		7.128			358		689		73.28
2.750 - 2.999		122,621,497		432		7.58			283,846		7.254			358		701		77.48
3.000 - 3.249		305,652,405		952		18.90			321,063		7.227			360		690		74.49
3.250 - 3.499		141,565,530		411		8.75			344,442		7.206			359		699		77.22
3.500 - 3.749		413,713,324		1,344		25.58			307,822		7.311			358		692		75.38
3.750 - 3.999		44,755,420		138		2.77			324,315		7.226			358		693		74.29
4.000 - 4.249		46,527,347		171		2.88			272,090		7.823			358		681		79.32
4.250 - 4.499		6,848,940		28		0.42			244,605		8.392			357		705		91.03
4.500 - 4.749		73,588,841		230		4.55			319,951		7.196			358		704		74.37
4.750 - 4.999		1,021,973		5		0.06			204,395		8.345			358		740		82.26
5.000 - 5.249		16,983,969		69		1.05			246,144		7.375			358		687		77.08
5.500 - 5.749		790,463		2		0.05			395,231		7.687			358		697		74.70
5.750 - 5.999		1,858,659		10		0.11			185,866		7.665			356		666		75.65
6.000 - 6.249		1,647,709		6		0.10			274,618		7.461			357		680		73.73
6.250 - 6.499		2,114,090		7		0.13			302,013		7.180			356		679		68.64
6.500 - 6.749		1,188,208		6		0.07			198,035		8.170			358		671		71.86
6.750 - 6.999		1,490,532		5		0.09			298,106		7.848			357		676		71.70
7.000 - 7.249		744,765		2		0.05			372,382		8.116			356		707		76.88
7.250 - 7.499		503,993		2		0.03			251,997		8.319			357		693		75.56
7.500 - 7.749		656,411		3		0.04			218,804		9.212			356		624		82.91
7.750 - 7.999		363,274		1		0.02			363,274		7.911			357		692		80.00
8.000 - 8.249		406,450		2		0.03			203,225		9.738			359		726		88.24
8.250 - 8.499		507,893		4		0.03			126,973		9.341			358		712		75.22
8.500 - 8.749		202,692		1		0.01			202,692		9.500			355		640		80.00
TOTAL	$	1,617,576,944		4,982		100.00	%	$	324,684		7.185	%		359		700		75.68	%

⁽¹⁾ excludes the fixed-rate mortgage loans

⁽²⁾ Combined loan-to-value ratios with respect to the mortgage loans secured by second liens.

As of the Cut-off Date, the weighted average Gross Margin of the adjustable-rate mortgage loans was approximately 3.109% per annum.

Maximum Mortgage Rate⁽¹⁾

Range of Maximum Mortgage Rates (%)	Current Balance		No. of Loans		% of Total			Average Balance		Weighted Average Gross Wac			Weighted Average Remg. Term (Months)		Weighted Average Non-Zero Credit Score		Weighted Average Original Ltv(2)
9.500 - 9.999	$	741,414		2		0.05	%	$	370,707		4.696	%		358		719		79.90	%
10.000 - 10.499		155,000		1		0.01			155,000		5.250			357		743		50.00
10.500 - 10.999		5,434,214		17		0.34			319,660		5.797			358		723		71.17
11.000 - 11.499		41,706,374		117		2.58			356,465		6.255			358		722		72.96
11.500 - 11.999		194,643,641		537		12.03			362,465		6.619			358		717		74.91
12.000 - 12.499		237,716,419		673		14.70			353,219		6.769			359		708		74.00
12.500 - 12.999		429,501,119		1,252		26.55			343,052		6.903			359		704		74.30
13.000 - 13.499		286,364,888		892		17.70			321,037		7.232			359		696		76.09
13.500 - 13.999		250,677,107		840		15.50			298,425		7.690			359		688		77.46
14.000 - 14.499		85,042,092		315		5.26			269,975		8.158			359		680		79.00
14.500 - 14.999		55,197,583		208		3.41			265,373		8.679			359		681		79.98
15.000 - 15.499		16,501,225		67		1.02			246,287		9.136			358		674		79.86
15.500 - 15.999		8,738,587		36		0.54			242,739		9.674			358		688		83.65
16.000 - 16.499		2,092,133		10		0.13			209,213		10.145			358		669		85.08
16.500 - 16.999		814,560		6		0.05			135,760		10.773			359		712		89.02
17.000 - 17.499		1,060,217		5		0.07			212,043		11.080			358		684		84.72
17.500 - 17.999		599,270		2		0.04			299,635		11.133			359		622		86.32
18.000 - 18.499		431,801		1		0.03			431,801		12.990			358		658		90.00
19.000 - 19.499		159,300		1		0.01			159,300		13.250			352		636		90.00
TOTAL	$	1,617,576,944		4,982		100.00	%	$	324,684		7.185	%		359		700		75.68	%

⁽¹⁾ excludes the fixed-rate mortgage loans

⁽²⁾ Combined loan-to-value ratios with respect to the mortgage loans secured by second liens.

As of the Cut-off Date, the weighted average Maximum Mortgage Rate of the adjustable-rate mortgage loans was approximately 12.918% per annum.

Initial Fixed-Rate Period⁽¹⁾

Initial Fixed Period (Months)	Current Balance		No. of Loans		% of Total			Average Balance		Weighted Average Gross Wac			Weighted Average Remg. Term (Months)		Weighted Average Non-Zero Credit Score		Weighted Average Original Ltv(2)
3	$	1,390,259		5		0.09	%	$	278,052		7.162	%		358		724		73.53	%
6		5,503,331		16		0.34			343,958		7.363			357		685		71.54
12		6,272,016		16		0.39			392,001		7.224			357		733		70.83
24		43,124,327		166		2.67			259,785		7.852			358		691		76.12
36		120,799,922		369		7.47			327,371		6.929			358		704		75.20
60		1,325,624,825		4,140		81.95			320,199		7.210			359		699		75.92
84		87,661,947		219		5.42			400,283		6.873			359		716		73.66
120		27,200,318		51		1.68			533,340		7.000			358		722		73.80
TOTAL	$	1,617,576,944		4,982		100.00	%	$	324,684		7.185	%		359		700		75.68	%

⁽¹⁾ excludes the fixed-rate mortgage loans

⁽²⁾ Combined loan-to-value ratios with respect to the mortgage loans secured by second liens.

Initial Rate Cap⁽¹⁾

Initial Cap (%)	Current Balance		No. of Loans		% of Total			Average Balance		Weighted Average Gross Wac			Weighted Average Remg. Term (Months)		Weighted Average Non-Zero Credit Score		Weighted Average Original Ltv(2)
1.000	$	3,369,513		12		0.21	%	$	280,793		7.824	%		357		661		74.74	%
2.000		45,855,126		142		2.83			322,923		7.220			358		708		75.78
3.000		818,899,076		2,590		50.63			316,177		7.275			359		693		74.74
3.750		522,720		1		0.03			522,720		8.250			358		740		80.00
4.250		195,000		1		0.01			195,000		8.125			360		654		79.60
5.000		422,676,211		1,194		26.13			354,000		7.000			358		708		75.88
5.375		660,412		2		0.04			330,206		6.625			358		709		64.94
5.625		75,200		1		0.00			75,200		7.250			360		768		80.00
5.875		279,087		1		0.02			279,087		7.000			358		664		95.00
6.000		324,271,072		1,034		20.05			313,608		7.184			358		708		77.75
6.250		202,300		1		0.01			202,300		7.250			358		765		77.22
6.375		200,232		1		0.01			200,232		7.625			358		709		90.00
6.400		257,280		1		0.02			257,280		7.250			360		729		80.00
6.625		113,717		1		0.01			113,717		7.500			358		693		80.00
TOTAL	$	1,617,576,944		4,982		100.00	%	$	324,684		7.185	%		359		700		75.68	%

⁽¹⁾ excludes the fixed-rate mortgage loans

⁽²⁾ Combined loan-to-value ratios with respect to the mortgage loans secured by second liens.

Subsequent Rate Cap⁽¹⁾

Subsequent Cap (%)	Current Balance		No. of Loans		% of Total			Average Balance		Weighted Average Gross Wac			Weighted Average Remg. Term (Months)		Weighted Average Non-Zero Credit Score		Weighted Average Original Ltv(2)
1.000	$	1,014,709,301		3,165		62.73	%	$	320,603		7.236	%		359		695		75.01	%
1.500		339,970		2		0.02			169,985		10.456			359		584		80.00
2.000		601,180,541		1,811		37.17			331,961		7.096			358		708		76.80
3.750		522,720		1		0.03			522,720		8.250			358		740		80.00
5.375		660,412		2		0.04			330,206		6.625			358		709		64.94
6.000		164,000		1		0.01			164,000		7.000			358		684		80.00
TOTAL	$	1,617,576,944		4,982		100.00	%	$	324,684		7.185	%		359		700		75.68	%

⁽¹⁾ excludes the fixed-rate mortgage loans

⁽²⁾ Combined loan-to-value ratios with respect to the mortgage loans secured by second liens.

Original Loan-to-Value Ratios⁽¹⁾

Range of Loan-to-Value Ratios (%)	Current Balance		No. of Loans		% of Total			Average Balance		Weighted Average Gross WAC			Weighted Average Remg. Term (Months)		Weighted Average Non-Zero Credit Score		Weighted Average Original LTV(1)
0.01 - 20.00	$	1,739,151		13		0.09	%	$	133,781		7.072	%		346		687		16.81	%
20.01 - 25.00		2,146,307		14		0.11			153,308		6.884			358		704		23.62
25.01 - 30.00		3,889,804		25		0.20			155,592		7.020			342		687		28.03
30.01 - 35.00		6,802,821		34		0.34			200,083		6.791			348		723		33.25
35.01 - 40.00		6,561,403		35		0.33			187,469		7.007			326		699		37.04
40.01 - 45.00		12,380,563		55		0.62			225,101		6.948			358		696		42.77
45.01 - 50.00		19,026,240		74		0.95			257,111		6.774			347		713		48.31
50.01 - 55.00		28,990,782		103		1.45			281,464		6.879			351		699		52.67
55.01 - 60.00		44,959,910		133		2.25			338,044		6.760			352		710		58.04
60.01 - 65.00		89,357,023		246		4.48			363,240		6.939			356		699		63.79
65.01 - 70.00		256,062,640		792		12.84			323,311		7.075			356		702		69.29
70.01 - 75.00		365,399,560		1,100		18.33			332,181		7.267			358		699		74.56
75.01 - 80.00		1,005,446,974		3,217		50.42			312,542		7.320			358		696		79.81
80.01 - 85.00		10,477,712		56		0.53			187,102		8.120			337		704		83.76
85.01 - 90.00		49,436,315		406		2.48			121,764		9.230			311		693		89.86
90.01 - 95.00		43,324,009		394		2.17			109,959		9.800			291		706		94.91
95.01 - 100.00		47,954,555		457		2.40			104,933		11.278			218		687		99.94
Total	$	1,993,955,770		7,154		100.00	%	$	278,719		7.432	%		351		698		75.93	%

⁽¹⁾ Combined loan-to-value ratios with respect to the mortgage loans secured by second liens.

The minimum and maximum loan-to-value ratios of the mortgage loans at origination were approximately 11.26% and 100.00%, respectively, and the weighted average of the loan-to-value ratios of the mortgage loans at origination was approximately 75.93%.

Notwithstanding the foregoing table, the final pool of mortgage loans will not include any mortgage loan with a loan-to-value ratio in excess of 100.00%.

Occupancy Types

Occupancy	Current Balance		No. of Loans		% of Total			Average Balance		Weighted Average Gross Wac			Weighted Average Remg. Term (Months)		Weighted Average Non-Zero Credit Score		Weighted Average Original Ltv(1)
Owner Occupied	$	1,530,557,753		5,052		76.76	%	$	302,961		7.334	%		351		695		76.46	%
Investor		377,602,244		1,770		18.94			213,335		7.832			351		708		73.87
Second Home		85,795,772		332		4.30			258,421		7.414			353		714		75.48
Total	$	1,993,955,770		7,154		100.00	%	$	278,719		7.432	%		351		698		75.93	%

⁽¹⁾ Combined loan-to-value ratios with respect to the mortgage loans secured by second liens.

Occupancy type is based on the representation of the borrower at the time of origination.

Mortgage Loan Program and Documentation Type

Document Type	Current Balance		No. of Loans		% of Total			Average Balance		Weighted Average Gross Wac			Weighted Average Remg. Term (Months)		Weighted Average Non-Zero Credit Score		Weighted Average Original Ltv(1)
PROGRESSIVE SERIES PROGRAM (LIMITED (STATED) DOCUMENTATION)	$	1,354,004,902		4,850		67.91	%	$	279,176		7.501	%		349		697		75.98	%
PROGRESSIVE EXPRESS PROGRAM (VERIFIED ASSETS)		229,868,049		803		11.53			286,262		7.446			356		696		78.25
PROGRESSIVE SERIES PROGRAM (FULL DOCUMENTATION)		187,049,637		642		9.38			291,355		6.918			353		702		74.79
PROGRESSIVE SERIES PROGRAM (STATED INCOME/STATED ASSETS DOCUMENTATION)		104,515,862		339		5.24			308,306		7.115			358		710		73.20
PROGRESSIVE EXPRESS NO DOC PROGRAM (NO DOCUMENTATION)		69,262,435		291		3.47			238,015		7.698			356		712		77.48
PROGRESSIVE EXPRESS PROGRAM (NON VERIFIED ASSETS)		42,248,583		191		2.12			221,197		7.779			342		680		72.33
PROGRESSIVE EXPRESS PROGRAM NO DOC PROGRAM (VERIFIED ASSETS)		2,869,680		13		0.14			220,745		7.338			356		742		72.15
PROGRESSIVE SERIES PROGRAM (FULL INCOME/STATED ASSETS DOCUMENTATION)		2,650,452		18		0.13			147,247		7.567			359		739		59.76
PROGRESSIVE SERIES PROGRAM (NO INCOME/NO ASSET DOCUMENTATION)		940,214		5		0.05			188,043		7.442			347		697		71.71
PROGRESSIVE SERIES PROGRAM (ALTERNATIVE DOCUMENTATION)		545,955		2		0.03			272,978		6.331			359		671		68.76
TOTAL	$	1,993,955,770		7,154		100.00	%	$	278,719		7.432	%		351		698		75.93	%

⁽¹⁾ Combined loan-to-value ratios with respect to the mortgage loans secured by second liens.

See “—Underwriting Criteria” below for a detailed description of the Sponsor’s loan programs and documentation requirements.

Risk Categories

Credit Grade Category (1)(2)	Current Balance		No. of Loans		% of Total			Average Balance		Weighted Average Gross Wac			Weighted Average Remg. Term (Months)		Weighted Average Non-Zero Credit Score		Weighted Average Original Ltv(3)
A+	$	1,027,849,700		3,464		51.55	%	$	296,723		7.207	%		352		728		75.38	%
A		693,780,052		2,626		34.79			264,197		7.705			348		658		76.52
PROGRESSIVE EXPRESS I		167,727,347		641		8.41			261,665		7.445			354		718		76.89
PROGRESSIVE EXPRESS II		81,270,800		320		4.08			253,971		7.734			351		652		76.96
A-		18,006,697		71		0.90			253,615		7.871			357		617		72.19
PROGRESSIVE EXPRESS III		3,279,167		20		0.16			163,958		7.912			338		617		76.98
PROGRESSIVE EXPRESS VI		834,495		3		0.04			278,165		10.867			358		525		61.30
PROGRESSIVE EXPRESS IV		617,517		6		0.03			102,919		8.855			339		602		63.49
CX		383,072		1		0.02			383,072		10.850			357		521		65.00
PROGRESSIVE EXPRESS V		206,923		2		0.01			103,461		10.213			359		573		57.82
TOTAL	$	1,993,955,770		7,154		100.00	%	$	278,719		7.432	%		351		698		75.93	%

_________________

(1) All of these mortgage loans were reviewed and placed into risk categories based on the credit standards of the Progressive Series Program. Credit grades of A+, A, A- and CX correspond to Progressive Series I+, I and II, III and III+, and IV respectively.

(2) These mortgage loans were originated under the Sponsor’s Progressive Express™ Program. The underwriting for these mortgage loans is generally based on the borrower’s “Credit Score” score and therefore these mortgage loans do not correspond to the alphabetical risk categories listed above. Each mortgage loan originated pursuant to the Express Priority Refi™ Program has been placed in either Progressive Express™ Program II or III.

(3) Combined loan-to-value ratios with respect to the mortgage loans secured by second liens.

See “—Underwriting Criteria” below for a description of the Sponsor’s risk categories.

Property Types

Property Type	Current Balance		No. of Loans		% of Total			Average Balance		Weighted Average Gross Wac			Weighted Average Remg. Term (Months)		Weighted Average Non-Zero Credit Score		Weighted Average Original Ltv(1)
SINGLE FAMILY RESIDENCE	$	1,171,035,750		4,149		58.73	%	$	282,245		7.339	%		351		696		75.41	%
CONDO		196,786,606		918		9.87			214,364		7.488			351		704		78.13
PLANNED UNIT DEVELOPMENT		190,068,657		616		9.53			308,553		7.157			356		706		77.22
DIMINIMUS PLANNED UNIT DEVELOPMENT-		180,217,506		617		9.04			292,087		7.662			348		693		77.17
2-FAMILY		99,509,938		363		4.99			274,132		7.733			348		699		74.74
3-FAMILY		50,036,841		147		2.51			340,387		8.248			344		699		75.50
4-FAMILY		42,120,729		113		2.11			372,750		7.909			352		713		73.27
HI-RISE		41,701,546		141		2.09			295,756		7.764			352		706		74.51
TOWNHOUSE		13,770,684		62		0.69			222,108		7.727			354		688		78.15
2-4FAMILY		7,208,896		21		0.36			343,281		7.398			359		714		74.27
CONDOTEL		1,498,617		7		0.08			214,088		7.484			358		727		74.91
TOTAL	$	1,993,955,770		7,154		100.00	%	$	278,719		7.432	%		351		698		75.93	%

(1) Combined loan-to-value ratios with respect to the mortgage loans secured by second liens.

Geographic Distribution of Mortgaged Properties

State	Current Balance		No. of Loans		% of Total			Average Balance		Weighted Average Gross Wac			Weighted Average Remg. Term (Months)		Weighted Average Non-Zero Credit Score		Weighted Average Original Ltv(1)
Alaska	$	276,000		1		0.01	%	$	276,000		7.875	%		359		644		80.00	%
Alabama		4,186,854		18		0.21			232,603		7.862			357		723		77.52
Arkansas		643,835		5		0.03			128,767		8.486			336		655		85.09
Arizona		66,697,301		312		3.34			213,773		7.531			352		705		76.78
California		1,039,413,174		2,964		52.13			350,679		7.182			352		702		74.73
Colorado		21,774,752		103		1.09			211,405		7.454			350		697		77.50
Connecticut		12,505,376		51		0.63			245,203		7.575			348		691		71.44
District of Columbia		7,121,233		23		0.36			309,619		8.248			352		706		77.62
Delaware		602,814		3		0.03			200,938		8.028			359		643		79.29
Florida		276,236,247		1,340		13.85			206,146		7.890			349		695		78.15
Georgia		21,375,951		112		1.07			190,857		7.437			351		703		77.25
Hawaii		16,697,133		43		0.84			388,305		7.386			347		708		71.19
Idaho		3,742,030		19		0.19			196,949		7.490			357		704		79.20
Illinois		45,775,227		228		2.30			200,769		7.961			346		704		76.80
Indiana		3,661,808		27		0.18			135,623		8.261			348		669		81.21
Kansas		209,763		2		0.01			104,882		7.614			358		684		79.55
Kentucky		962,956		5		0.05			192,591		7.964			358		713		77.45
Louisiana		588,609		4		0.03			147,152		7.614			358		721		90.59
Massachusetts		11,842,406		38		0.59			311,642		7.192			351		691		73.46
Maryland		63,572,091		246		3.19			258,423		7.612			354		681		77.98
Maine		1,038,563		3		0.05			346,188		7.297			359		668		80.00
Michigan		4,921,727		37		0.25			133,020		8.262			326		695		80.76
Minnesota		11,777,973		60		0.59			196,300		8.054			342		684		78.95
Missouri		2,722,538		18		0.14			151,252		6.978			319		706		68.51
Mississippi		1,337,552		11		0.07			121,596		8.261			351		713		79.39
North Carolina		8,089,169		40		0.41			202,229		7.761			354		700		74.77
North Dakota		104,930		1		0.01			104,930		6.750			360		689		70.00
New Hampshire		2,561,744		12		0.13			213,479		7.300			354		713		80.45
New Jersey		54,614,836		198		2.74			275,833		7.681			349		692		74.54
New Mexico		2,202,801		15		0.11			146,853		7.742			353		692		80.70
Nevada		59,064,755		242		2.96			244,069		7.360			354		703		77.75
New York		86,073,135		271		4.32			317,613		7.897			340		686		75.89
Ohio		3,552,351		20		0.18			177,618		7.684			337		688		81.23
Oklahoma		1,140,557		4		0.06			285,139		9.120			320		657		80.16
Oregon		11,935,900		53		0.60			225,206		7.290			350		701		76.24
Pennsylvania		8,113,166		51		0.41			159,082		7.860			340		680		78.96
Rhode Island		3,375,405		19		0.17			177,653		8.082			344		667		79.20
South Carolina		3,674,699		21		0.18			174,986		7.714			347		695		78.25
Tennessee		1,485,637		12		0.07			123,803		7.776			342		713		83.39
Texas		12,270,446		91		0.62			134,840		7.937			344		691		80.91
Utah		7,159,169		33		0.36			216,945		7.417			355		695		75.38
Virginia		70,261,315		244		3.52			287,956		7.590			353		686		79.10
Vermont		605,508		3		0.03			201,836		7.991			342		664		82.91
Washington		37,130,958		144		1.86			257,854		7.158			353		698		75.48
Wisconsin		855,380		7		0.04			122,197		7.854			349		676		78.10
TOTAL	$	1,993,955,770		7,154		100.00	%	$	278,719		7.432	%		351		698		75.93	%

(1) Combined loan-to-value ratios with respect to the mortgage loans secured by second liens.

No more than approximately 0.37% of the mortgage loans (by aggregate outstanding principal balance as of the Cut-off Date) are secured by mortgaged properties located in any one zip code.

Debt-to-Income Ratio

Range of Debt-To-Income Ratio (%)	Current Balance		No. of Loans		% of Total			Average Balance		Weighted Average Gross Wac			Weighted Average Remg. Term (Months)		Weighted Average Non-Zero Credit Score		Weighted Average Original Ltv(1)
0.01 - 5.00	$	43,846,948		223		2.20	%	$	196,623		7.751	%		332		692		75.96	%
5.01 - 10.00		1,716,981		9		0.09			190,776		7.591			353		687		67.41
10.01 - 15.00		6,952,198		27		0.35			257,489		7.231			349		721		71.51
15.01 - 20.00		14,996,404		76		0.75			197,321		7.055			351		710		68.70
20.01 - 25.00		44,457,694		179		2.23			248,367		7.332			353		708		72.57
25.01 - 30.00		82,427,018		298		4.13			276,601		7.336			350		712		72.73
30.01 - 35.00		195,217,204		679		9.79			287,507		7.254			351		710		73.94
35.01 - 40.00		366,565,068		1,327		18.38			276,236		7.424			349		699		76.42
40.01 - 45.00		539,900,785		1,851		27.08			291,681		7.385			351		695		76.26
45.01 - 50.00		314,338,525		1,164		15.76			270,050		7.653			348		691		77.39
50.01 - 55.00		21,626,360		74		1.08			292,248		7.211			356		691		69.71
55.01 +		3,879,411		12		0.19			323,284		7.776			358		683		77.67
UNKNOWN		358,031,176		1,235		17.96			289,904		7.437			357		698		76.67
TOTAL	$	1,993,955,770		7,154		100.00	%	$	278,719		7.432	%		351		698		75.93	%

(1) Combined loan-to-value ratios with respect to the mortgage loans secured by second liens.

As of the Cut-off Date, the non-zero weighted average debt-to-income ratio of the mortgage loans was approximately 38.82% per annum.

Prepayment Penalty

Original Prepayment Penalty Term	Current Balance		No. of Loans		% of Total			Average Balance		Weighted Average Gross Wac			Weighted Average Remg. Term (Months)		Weighted Average Non-Zero Credit Score		Weighted Average Original Ltv(1)
No Prepay	$	821,260,626		2,870		41.19	%	$	286,154		7.476	%		350		705		76.22	%
6 Month		11,744,774		36		0.59			326,244		7.954			354		696		73.52
1 Year		309,485,418		1,051		15.52			294,468		7.443			352		695		75.20
2 Year		201,475,537		795		10.10			253,428		7.527			353		688		75.89
3 Year		576,908,885		2,123		28.93			271,742		7.340			352		694		76.22
3.5 Years		321,750		2		0.02			160,875		6.919			359		673		77.05
5 Year		72,758,779		277		3.65			262,667		7.269			341		694		73.95
TOTAL	$	1,993,955,770		7,154		100.00	%	$	278,719		7.432	%		351		698		75.93	%

(1) Combined loan-to-value ratios with respect to the mortgage loans secured by second liens.

Months Remaining to Scheduled Maturity

Range of Months	Current Balance		No. of Loans		% of Total			Average Balance		Weighted Average Gross Wac			Weighted Average Remg. Term (Months)		Weighted Average Non-Zero Credit Score		Weighted Average Original Ltv(1)
1 - 120	$	55,184		1		0.00	%	$	55,184		8.000	%		98		604		84.74	%
121 - 180		76,428,156		945		3.83			80,876		11.385			177		685		91.60
181 - 240		707,386		5		0.04			141,477		7.877			227		659		76.42
241 - 300		3,204,560		22		0.16			145,662		7.244			290		688		78.27
301 - 360		1,913,560,484		6,181		95.97			309,588		7.274			358		699		75.30
TOTAL	$	1,993,955,770		7,154		100.00	%	$	278,719		7.432	%		351		698		75.93	%

(1) Combined loan-to-value ratios with respect to the mortgage loans secured by second liens.

As of the Cut-off Date, the weighted average months remaining to scheduled maturity of the mortgage loans was approximately 351 months.

Credit Scores

Range of Credit Scores	Current Balance		No. of Loans		% of Total			Average Balance		Weighted Average Gross Wac			Weighted Average Remg. Term (Months)		Weighted Average Non-Zero Credit Score		Weighted Average Original Ltv(1)
801 - 820	$	22,500,059		66		1.13	%	$	340,910		6.858	%		357		806		71.57	%
781 - 800		78,899,187		263		3.96			299,997		7.080			355		790		73.83
761 - 780		131,088,683		426		6.57			307,720		7.125			352		771		75.30
741 - 760		181,487,693		630		9.10			288,076		7.118			354		750		75.21
721 - 740		208,661,105		729		10.46			286,229		7.170			352		730		75.70
701 - 720		280,498,223		940		14.07			298,402		7.267			353		710		76.11
681 - 700		312,792,264		1,112		15.69			281,288		7.412			350		690		76.34
661 - 680		290,034,455		1,079		14.55			268,799		7.616			348		670		76.92
641 - 660		261,904,801		1,047		13.13			250,148		7.830			347		651		76.48
621 - 640		188,986,744		721		9.48			262,118		7.788			349		631		76.14
601 - 620		27,950,124		104		1.40			268,751		7.836			355		615		73.49
581 - 600		1,540,542		11		0.08			140,049		8.603			352		591		68.53
561 - 580		206,923		2		0.01			103,461		10.213			359		573		57.82
521 - 540		1,217,568		4		0.06			304,392		10.862			358		524		62.46
<= 500		6,187,401		20		0.31			309,370		7.702			358		N/A		71.78
TOTAL	$	1,993,955,770		7,154		100.00	%	$	278,719		7.432	%		351		698		75.93	%

(1) Combined loan-to-value ratios with respect to the mortgage loans secured by second liens.

As of the Cut-off Date, the non-zero weighted average credit score of the mortgage loans for which credit scores are available was approximately 698.

Range of Months to Roll⁽¹⁾

Number of Months	Current Balance		No. of Loans		% of Total			Average Balance		Weighted Average Gross Wac			Weighted Average Remg. Term (Months)		Weighted Average Non-Zero Credit Score		Weighted Average Original Ltv(2)
1 - 6	$	6,893,590		21		0.43	%	$	328,266		7.323	%		357		693		71.94	%
7 - 12		6,272,016		16		0.39			392,001		7.224			357		733		70.83
13 - 18		813,237		5		0.05			162,647		8.741			354		665		82.67
19 - 24		42,311,090		161		2.62			262,802		7.835			358		692		76.00
25 - 31		1,344,909		4		0.08			336,227		6.896			355		710		73.39
32 - 37		119,455,013		365		7.38			327,274		6.929			358		704		75.23
43 - 49		384,732		1		0.02			384,732		7.500			349		643		80.00
50 - 55		21,441,214		84		1.33			255,253		7.032			354		712		74.91
56 - 61		1,303,798,879		4055		80.60			321,529		7.213			359		698		75.93
74 - 79		733,450		3		0.05			244,483		7.174			354		735		72.71
80 - 85		86,928,497		216		5.37			402,447		6.871			359		716		73.67
> 85		27,200,318		51		1.68			533,340		7.000			358		722		73.80
TOTAL	$	1,617,576,944		4982		100.00	%	$	324,684		7.185	%		359		700		75.68	%

⁽¹⁾ excludes the fixed-rate mortgage loans

⁽²⁾ Combined loan-to-value ratios with respect to the mortgage loans secured by second liens.

As of the Cut-off Date, the weighted average months to roll of the adjustable-rate mortgage loans was approximately 58 months.

Loan Purposes

Loan Purpose	Current Balance		No. of Loans		% of Total			Average Balance		Weighted Average Gross Wac			Weighted Average Remg. Term (Months)		Weighted Average Non-Zero Credit Score		Weighted Average Original Ltv(1)
PURCHASE	$	1,222,153,600		4,522		61.29	%	$	270,268		7.512	%		351		703		78.62	%
RCO		563,922,978		1,980		28.28			284,810		7.388			350		687		71.28
RNC		207,879,191		652		10.43			318,833		7.080			353		699		72.74
TOTAL	$	1,993,955,770		7,154		100.00	%	$	278,719		7.432	%		351		698		75.93	%

(1) Combined loan-to-value ratios with respect to the mortgage loans secured by second liens.

In general, in the case of a mortgage loan made for “rate and term” refinance purposes, substantially all of the proceeds are used to pay in full the principal balance of a previous mortgage loan of the mortgagor with respect to a mortgaged property and to pay origination and closing costs associated with such refinancing. Mortgage loans made for “cash-out” refinance purposes may involve the use of the proceeds to pay in full the principal balance of a previous mortgage loan and related costs except that a portion of the proceeds are generally retained by the mortgagor for uses unrelated to the mortgaged property. The amount of these proceeds retained by the mortgagor may be substantial.