N-CSRS

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number			811-05506
College and University Facility Loan Trust Two
(Exact name of registrant as specified in charter)
c/o U.S. Bank  One Federal Street  Boston, MA					02110
(Address of principal executive offices)					(Zip code)
Diana J. Kenneally U.S. Bank Corporate Trust Services One Federal Street Boston, MA 02110
(Name and address of agent for service)
Registrant’s telephone number, including area code:				(617) 603-6442
Date of fiscal year end:	November 30
Date of reporting period:		December 1, 2005 – May 31, 2006

ITEM 1. REPORT TO STOCKHOLDERS.

College and University

Facility Loan Trust Two

Compiled Financial Statements

Six Months Ended May 31, 2006

Accountants’ Compilation Report

To the Owner Trustee of

College and University Facility

Loan Trust Two

We have compiled the accompanying statement of assets and liabilities of College and University Facility Loan Trust Two (the “Trust”), including the schedule of investments, as of May 31, 2006, and the related statements of operations, cash flows, changes in net assets and financial highlights for the six months then ended, in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants. The financial information for the years ended November 30, 2005, 2004, 2003, 2002 and 2001, presented herein for comparative purposes, was audited by other auditors, whose report thereon dated January 30, 2006 expressed an unqualified opinion, except for the effect on the 2005 and 2004 financial statements of accounting for investments under the amortized cost method of accounting as described in Note 2 to the financial statements.

A compilation is limited to presenting in the form of financial statements information that has been obtained from the books and records of the Trust. We have not audited or reviewed the accompanying financial statements or supplemental material and, accordingly, do not express an opinion or any other form of assurance on them. However, we did become aware of a departure from accounting principals generally accepted in the United States of America that is described in the following paragraph.

As disclosed in Note 2 to the financial statements, the Trust is accounting for its investments under the amortized cost method of accounting, adjusted by an allowance for loan losses. Accounting principles generally accepted in the United States of America require that the investments be accounted for under the fair value method of accounting. Accounting for the investments under the fair value method of accounting, based on the Trust’s estimate of fair value as described in Note 8, would result in an increase of approximately $13,294,000 in the recorded value of the investments and an increase in unrealized appreciation of investments of approximately $13,294,000 as of May 31, 2006.

We are not independent with respect to College and University Facility Loan Trust Two.

/s/ BDO Seidman, LLP

Boston, Massachusetts

July 24, 2006

College and University

Facility Loan Trust Two

Statement of Assets and Liabilities

May 31,	2006
Assets:
Investments, at amortized cost, net of allowance for loan losses of $1,232,376 (Notes 1, 2, 6, 7 and 8, and Schedule of Investments)	$	62,816,224
Cash	264,277
Interest receivable	569,798
Loans receivable	191,000
Deferred bond issuance costs (Note 2)	176,387
Prepaids	13,750
Total assets	64,031,436
Liabilities:
Bonds payable, net of unamortized discount (Notes 3 and 8)	50,599,805
Interest payable (Note 3)	1,254,379
Accrued expenses and other liabilities	398,152
Distribution payable to Class B certificateholders (Note 5)	1,556,167
Total liabilities	53,808,503
Net Assets:
Class B certificates, par value $1 - authorized, issued and outstanding - 1,763,800 certificates (Note 5)	1,763,800
Accumulated deficit (Notes 2 and 5)	(3,121,836		)
Additional paid-in capital (Note 2)	11,580,969
Total net assets	$	10,222,933
Net asset value per Class B certificate (based on 1,763,800 certificates outstanding)	$	5.80

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

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College and University

Facility Loan Trust Two

Statement of Operations

Six months ended May 31,	2006
Investment income:
Interest income (Note 2)	$	3,201,765
Expenses:
Interest expense (Notes 2 and 3)	2,423,801
Servicer fees (Note 4)	23,359
Trustee fees (Note 4)	20,119
Other trust and bond administration expenses	145,338
Total expenses	2,612,617
Net investment income	589,148
Reduction in reserve for loan losses (Note 6)	200,000
Net increase in net assets resulting from operations	$	789,148

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

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College and University

Facility Loan Trust Two

Statement of Cash Flows

Six months ended May 31,	2006
Cash flows from operating activities:
Interest received	$	1,570,101
Interest paid	(1,371,452		)
Operating expenses paid	18,927
Net cash provided by operating activities	217,576
Cash flows from investing activities:
Net increase in funds held under investment agreements	1,511,233
Principal payments on Loans	4,300,895
Net cash provided by investing activities	5,812,128
Cash flows from financing activities:
Principal repayments on Bonds	(5,853,678		)
Net cash used in financing activities	(5,853,678		)
Net increase in cash	176,026
Cash, beginning of period	88,251
Cash, end of period	$	264,277
Reconciliation of net increase in net assets resulting from operations to net cash provided by operating activities:
Net increase in net assets resulting from operations	$	789,148
Provision for loan loss	(200,000		)
Decrease in interest receivable	137,006
Increase in prepaid assets	(13,750		)
Increase in accrued expenses and other liabilities	221,493
Decrease in Bond interest payable	(117,073		)
Amortization of original issue discount on Bonds	1,151,616
Amortization of purchase discount on Loans	(1,768,670		)
Amortization of deferred Bond issuance costs	17,806
Net cash provided by operating activities	$	217,576

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

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College and University

Facility Loan Trust Two

Statement of Changes in Net Assets

(Note 2(f))

	For the
	Six Months
	Ended			Year Ended
	May 31,			November 30,
	2006			2005
	(Unaudited)			(Audited)
From operations:
Net investment income	$	589,148		$	1,241,230
Reduction in reserve for loan loss	200,000			—
Net increase in net assets applicable to Class B certificateholders resulting from operations	789,148			1,241,230
Capital certificate transactions:
Distributions to Class B certificateholders (Note 5)	(1,556,167		)	(776,697		)
Net increase (decrease) in net assets	(767,019		)	464,533
Net assets:
Beginning of period	10,989,952			10,525,419
End of period	$	10,222,933		$	10,989,952

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

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College and University

Facility Loan Trust Two

Financial Highlights

(Notes 1 and 5)

	For the
	Six Months
	Ended
	May 31,			Years Ended November 30,
	2006			2005			2004			2003			2002			2001
	(Unaudited)			(Audited)
Net asset value, beginning of period	$	6.23		$	5.97		$	6.87		$	7.64		$	8.53		$	9.01
Net investment income	.34			.70			1.20			1.04			1.37			1.15
Provision for loan losses	.11			—			—			—			—			—
Distribution to Class B certificateholders	(.88		)	(.44		)	(2.10		)	(1.81		)	(2.26		)	(1.63		)
Net asset value, end of period	$	5.80		$	6.23		$	5.97		$	6.87		$	7.64		$	8.53
Total investment return (a)	N/A			N/A			N/A			N/A			N/A			N/A
Net assets applicable to Class B certificates, end of period	$	10,222,933		$	10,989,952		$	10,525,419		$	12,112,066		$	13,478,109		$	15,039,698
Ratios and Supplemental Data:
Ratio of operating expenses to average net assets applicable to Class B certificates	49.26		% (b) (c)	54.60		% (b)	71.19		% (b)	66.777		% (b)	70.03		% (b)	69.21		% (b)
Ratio of net investment income to average net assets applicable to Class B certificates	11.11		% (c)	11.54		%	18.67		%	14.37		%	16.97		%	13.05		%
Number of Class B certificates outstanding, end of period	1,763,800			1,763,800			1,763,800			1,763,800			1,763,800			1,763,800

(a)The Trust’s investments are recorded at amortized cost as discussed in Note 2. Accordingly, the financial statements do not reflect the market value of such investments. For this reason, management believes that no meaningful information can be provided regarding “Total Investment Return” and has not included information under that heading.

(b)Excluding interest expense, the ratio of operating expenses to average net assets applicable to Class B Certificates was 3.56%(c), 3.58%, 3.89%, 3.26%, 2.76% and 2.72% in 2006, 2005, 2004, 2003, 2002 and 2001, respectively.

(c)Annualized.

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

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College and University

Facility Loan Trust Two

Notes to Financial Statements

1.     Organization and Business

College and University Facility Loan Trust Two (the Trust) was formed on March 11, 1988 as a business trust under the laws of the Commonwealth of Massachusetts by a declaration of trust by the Bank of Boston (the Owner Trustee), succeeded by State Street Bank and Trust Company, succeeded by US Bank (successor Owner Trustee), not in its individual capacity, but solely as Owner Trustee. The Trust is registered under the Investment Company Act of 1940 (as amended) as a diversified, closed-end, management investment company.

The Trust was formed for the sole purpose of raising funds through the issuance and sale of bonds (the Bonds). The Trust commenced operations on May 12, 1988 (the Closing Date) and issued Bonds in four tranches in the aggregate principal amount (at maturity) of $450,922,000. The Bonds constitute full recourse obligations of the Trust. The collateral securing the Bonds consists primarily of a pool of college and university facility loans (the Loans) to various postsecondary educational institutions and funds held under the indenture (the Indenture) and the investment agreements. The Loans were originated by, or previously assigned to, the United States Department of Education (ED) under the College Housing Loan Program or the Academic Facilities Loan Program. The Loans, which have been assigned to J.P. Morgan Trust Company, National Association, as successor in interest to Bank One Trust Company, NA, formerly The First National Bank of Chicago (the Bond Trustee), are secured by various types of collateral, including mortgages on real estate, general recourse obligations of the borrowers, pledges of securities and pledges of revenues. As of the Closing Date, the Loans had a weighted average stated interest rate of approximately 3.18% and a weighted average remaining term to maturity of approximately 18.77 years. Payments on the Loans are managed by the Bond Trustee in various fund accounts and are invested under investment contracts (Note 2) as specified in the Indenture.

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	All payments on the Loans and earnings under the investment agreements and any required transfers from the Expense and Liquidity Funds are deposited to the credit of the Revenue Fund held by the Bond Trustee, as defined within, and in accordance with the Indenture. On each bond payment date, amounts on deposit in the Revenue Fund are applied in the following order of priority: to pay amounts due on the Bonds, to pay administrative expenses not previously paid from the Expense Fund, to fund the Expense Fund to the Expense Fund Requirement and to fund the Liquidity Fund to the Liquidity Fund Requirement. Any funds remaining in the Revenue Fund on such payment date will be used to further pay down the Bonds to the extent of the maximum principal distribution amount, after which any residual amounts are paid to the certificateholders, as discussed in Note 5.
	On the Closing Date, certificates were issued by the Trust to ED as partial payments for the Loans. In December 1989, ED sold, through a private placement, all of its ownership interest in the Trust.
2.     Summary of Significant Accounting Policies	(a)   College and University Facility Loans
	The Loans were purchased and recorded at a discount below par. Pursuant to a “no-action letter” that the Trust received from the Securities and Exchange Commission, the Loans, included in investments in the accompanying statement of assets and liabilities, are being accounted for under the amortized cost method of accounting. Under this method, the difference between the cost of each Loan to the Trust and the scheduled principal and interest payments is amortized, assuming no prepayments of principal, and included in the Trust’s income by applying the Loan’s effective interest rate to the amortized cost of that Loan. When a Loan prepays, the remaining discount is recognized as interest income. The remaining balance of the purchase discount on the Loans as of May 31, 2006 was approximately $21,625,000. As a result of prepayments of Loans in the six months ended May 31, 2006, additional interest income of approximately $68,000 was recognized.

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The Trust’s policy is to discontinue the accrual of interest on Loans for which payment of principal or interest is 180 days or more past due or for other such Loans that management believes the collection of interest and principal is doubtful. When a Loan is placed on nonaccrual status, all previously accrued, but uncollected interest is reversed against the current period’s interest income. Subsequently, interest income is generally recognized when received. Payments are generally applied to interest first, with the balance, if any, applied to principal. At May 31, 2006, no loans have been placed on nonaccrual status.

Accounting principles generally accepted in the United States of America (GAAP), requires that the Loans be accounted for under the fair value method of accounting. However, management believes that the amortized cost method of accounting best serves the informational needs of the users of the Trust’s financial statements.

(b)   Other Investments

Other investments, which are included in investments in the accompanying statement of assets and liabilities, consist of two investment agreements issued by JP Morgan Chase Bank, bearing fixed rates of interest of 7.05% and 7.75%. These investments may take the form of repurchase agreements (the underlying collateral of which shall be as to form and substance acceptable to each nationally recognized statistical rating agency that rates the Bonds), time deposits or other lawful investments at JP Morgan Chase Bank’s option. These investments are carried at amortized cost. These investment agreements terminate on the earlier of June 1, 2018 or the date on which the Bonds are paid-in-full.

GAAP requires that the investments be accounted for under the fair value method of accounting. However, management believes that the amortized cost method of accounting best serves the informational needs of the users of the Trust’s financial statements.

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(c)   Federal Income Taxes

It is the Trust’s policy to comply with the requirements applicable to a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended, and to distribute substantially all of its investment company taxable income to its certificateholders each year. Accordingly, no federal or state income tax provision is required.

For tax purposes, the Loans were transferred to the Trust at their face values. Accordingly, the accretion of the purchase discount creates a permanent book-tax difference.

(d)   Deferred Bond Issuance Costs

Deferred bond issuance costs are being amortized using the effective interest rate method over the estimated lives of the Bonds, which are based on the scheduled payments of the Loans. When Loan prepayments occur, an additional portion of the deferred issuance costs is expensed in the year the prepayment occurred, so that the future effective interest rate remains unchanged.

(e)   Accounting for Impairment of a Loan and Allowance for Loan Losses

The allowance for loan losses is based on the Trust’s evaluation of the level of the allowance required to reflect the risks in the loan portfolio, based on circumstances and conditions known or anticipated at each reporting date.

The methodology for assessing the appropriateness of the allowance consists of a review of the following three key elements:

(1)   a valuation allowance for loans identified as impaired,

(2)   a formula-based general allowance for the various loan portfolio classifications, and

(3)   an unallocated allowance.

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A loan is impaired when, based on current information and events, it is probable that the Trust will be unable to collect all amounts due in accordance with the contractual terms of the loan agreement. Loans identified as impaired are further evaluated to determine the estimated extent of impairment.

The formula-based general allowance is derived primarily from a risk-rating model that grades loans based on general characteristics of credit quality and relative risk. As credit quality for individual loans deteriorates, the risk rating and the allowance allocation percentage increases. The sum of these allocations comprise the Trust’s formula-based general allowance.

In addition to the valuation and formula-based general allowance, there is an unallocated allowance. This element recognizes the estimation risks associated with the valuation and formula-based models. It is further adjusted for qualitative factors including, among others, general economic and business conditions, credit quality trends, and specific industry conditions.

There are inherent uncertainties with respect to the final outcome of loans and as such, actual losses may differ from the amounts reflected in the financial statements.

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(f)    Presentation of Capital Distributions

Capital distributions are accounted for in accordance with the American Institute of Certified Public Accountants Statement of Position (SOP) 93-2, “Determination, Disclosure and Financial Statement Presentation of Income, Capital Gain and Return of Capital Distributions by Investment Companies.”  SOP 93-2 requires the Trust to report distributions that are in excess of tax-basis earnings and profits as a tax return of capital and to present the capital accounts on a basis that approximates the amounts that are available for future distributions on a tax basis.

As of November 30, 2005, all tax earnings and profits have been distributed. Accordingly, all accumulated undistributed net investment income has been reclassified to additional paid-in capital. This reclassification results from permanent book and tax differences such as the receipt of tax-exempt interest income on certain Loans, the related interest expense on the Bonds, and the accretion of purchase discount on the Loans. Amounts deducted for the loan loss reserve are not currently deductible for tax purposes and have been reclassified as an accumulated deficit. These reclassifications had no impact on the net investment income or net assets of the Trust.

The Trust expects to have a tax return of capital for the fiscal year ending November 30, 2006; however, the amount cannot be reasonably estimated at May 31, 2006.

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(g)   Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities at the date of the financial statements and for the period then ended. On an on-going basis, the Trust evaluates the estimates used, including those related to the allowance for loan losses. The Trust bases its estimates on historical experience, current conditions and various other assumptions that the Trust believes to be reasonable under the circumstances. These estimates form the basis for making judgments about the carrying values of assets and liabilities and are not readily apparent from other sources. These estimates are used to assist the Trust in the identification and assessment of the accounting treatment necessary with respect to commitments and contingencies. Actual results may differ from these estimates under different assumptions or conditions.

The allowance for loan losses is a critical accounting policy that requires estimates and assumptions to be made in the preparation of the Trust’s financial statements. The allowance for loan losses is based on the Trust’s evaluation of the level of the allowance required in relation to the estimated loss exposure in the loan portfolio. The allowance for loan losses is a significant estimate and is therefore regularly evaluated for adequacy by taking into consideration factors such as prior loan loss experience, the character and size of the loan portfolio, business and economic conditions and the Trust’s estimation of future losses. The use of different estimates or assumptions could produce different provisions for loan losses. See Note 2(e) for a detailed description of the Trust’s estimation process and methodology related to the allowance for loan losses.

(h)   Loans Receivable

On the Statement of Assets and Liabilities, the investment balances in three loans, that were recently scheduled to mature, were reclassified from Investments to Loans receivable as the final principal payments were not received as of May 31, 2006.

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3.     Bonds The Bonds outstanding at May 31, 2006 consist of the following:

	Interest		Stated	Outstanding		Unamortized		Carrying
Type	Rate		Maturity	Principal		Discount		Amount
				(000’s)		(000’s)		(000’s)
Sequential	4.00	%	June 1, 2018	$	62,719	$	12,119	$	50,600

Interest on the Bonds is payable semiannually. On December 1, 2005, the Trust made a principal payment of $5,853,678 on the Bonds.

Principal payments on the Bonds will be made prior to the respective stated maturities on each bond payment date in an amount equal to the lesser of either (1) amounts available in the Revenue Fund after certain required payments of interest and principal (at the stated maturity of the Bonds) and administrative expenses after required transfers to the Expense Fund and the Liquidity Fund (such that the amounts on deposit are equal to the Expense Fund Requirement and the Liquidity Fund Requirement, respectively), or (2) the Maximum Principal Distribution Amount, as defined within the Indenture. These principal payments will be applied to each class of Bonds in the order of their stated maturities, so that no payment of principal will be made on the Bonds of any class until all Bonds having an earlier stated maturity have been paid in full.

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The estimated aggregate principal payments on the Bonds at May 31, 2006 after taking into consideration actual Loan prepayments, Defaulted Loans and the Maximum Principal Distribution Amount, as defined in the Indenture, are as follows:
Fiscal Year	Amount
	(000’s)
2006	$		3,819
2007	7,408
2008	6,754
2009	6,410
2010	6,070
Thereafter	32,258
Total	$	62,719
Actual Bond principal payments may differ from estimated payments because borrowers may prepay or default on their obligations. The Bonds are not subject to optional redemption by either the Trust or the bondholders.
In the event of negative cash flows, a Liquidity Fund has been established and maintained such that, on or before such payment date, the Liquidity Fund may be used by the Bond Trustee to make any required payments on the Bonds and to pay operating expenses of the Trust. The original issue discount is being amortized using the effective interest rate method over the estimated lives of the Bonds, which are based on the scheduled payments of the Loans. Accordingly, loan prepayments have the effect of accelerating bond payments. When Bond payments occur sooner than estimated payments, a portion of the original issue discount is expensed in the year of prepayment, so that the future effective interest rate on the Bonds remains unchanged.

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4.     Administrative Agreements	(a)   Servicer
	As compensation for the services provided under the servicing agreement, GMAC Commercial Mortgage receives a servicing fee. The fee is earned each date payments are received on each Loan and is equal to 0.075 of 1% of the outstanding principal balance of each Loan divided by the number of payments of principal and interest in a calendar year. For the six months ended May 31, 2006, this fee totaled $23,359.
	(b)   Trustees
	As compensation for services provided, the Owner and Bond Trustees are entitled under the Declaration of Trust and the Indenture to receive the following fees:
	•      The Owner Trustee, in its capacities as manager of the Trust and as Owner Trustee, earned fees of $6,250 and $7,500, respectively, for the six months ended May 31, 2006.
	•      The Bond Trustee is entitled to an annual fee equal to 0.015 of 1% of the aggregate outstanding principal of the Bonds on the bond payment date immediately preceding the date of payment of such fee. The Bond Trustee is also reimbursed for out-of-pocket expenses in an amount not to exceed 4% of the applicable annual fee. In addition, the Bond Trustee is reimbursed for other agreed-upon related expenses. For the six months ended May 31 2006, total Bond Trustee fees and out-of-pocket expenses amounted to $6,369.

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5.     Certificates	Holders of each of the Class B certificates receive amounts paid to the Owner Trustee pursuant to the Declaration of Trust on a pro rata basis. On December 1, 2005, no distribution was made to the Class B certificateholders, as the amount available in the Revenue Fund after required payments of interest and administrative expenses and required transfers to the Expense Fund and Liquidity Fund was less than the Maximum Principal Distribution amount. See Note 3.
	While the Bonds are outstanding, distributions to the Class B certificateholders are made on the second business day in each June and December (the Distribution Date) and, after the Bonds are paid in full, on the first business day of each calendar month. The certificateholders shall each be entitled to one vote per certificate.
6.     Allowance For Loan Losses	An analysis of the allowance for loan losses for the six months ended May 31, 2006 is summarized as follows:
	Balance, beginning of year	$	1,432,376
	Reduction in reserve for loan losses	200,000
	Charge-offs	—
	Balance, end of year	$	1,232,376
	At May 31, 2006, there were no recorded investments in loans that are considered to be impaired. See Note 2(e) for a discussion of the Trust’s impaired loan accounting policy.

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7.     Loans	Scheduled principal and interest payments on the Loans as of May 31, 2006, excluding payments for Loans in Default, as defined in the Indenture, are as follows:
		Principal			Interest
	Fiscal year	Payments			Payments			Total
		(000’s)			(000’s)			(000’s)
	2006	$		5,574	$		1,221	$		6,795
	2007	8,323			2,187			10,510
	2008	7,593			1,935			9,528
	2009	7,329			1,698			9,027
	2010	6,763			1,470			8,233
	Thereafter	41,207			5,777			46,984
	Total	$	76,789		$	14,288		$	91,077
	Expected payments may differ from contractual payments because borrowers may prepay or default on their obligations. Accordingly, actual principal and interest on the Loans may vary significantly from the scheduled payments. As of May 31, 2006, there were no Loans in Default.

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The following analysis summarize the stratification of the Loan portfolio by type of collateral and institution as of May 31, 2006:
	Number	Amortized
Type of Collateral	of Loans	Cost					%
		(000’s)
Loans secured by a first mortgage	108	$				35,748	64.8	%
Loans not secured by a first mortgage	43	19,416					35.2
Total Loans	151	$			55,164		100.0	%
	Number	Amortized
Type of Institution	of Loans	Cost					%
		(000’s)
Private	113	$		35,580			64.5	%
Public	38	19,584					35.5
Total Loans	151	$	55,164				100.0	%
The ability of a borrower to meet future debt service payments on a Loan will depend on a number of factors relevant to the financial condition of such borrower, including, among others, the size and diversity of the borrower’s sources of revenues; enrollment trends; reputation; management expertise; the availability and restrictions on the use of endowments and other funds; the quality and maintenance costs of the borrower’s facilities and, in the case of some Loans to public institutions, which are obligations of a state, the financial condition of the relevant state or other governmental entity and its policies with respect to education. The ability of a borrower to maintain enrollment levels will depend on such factors as tuition costs, geographical location, geographic diversity, quality of the student body, quality of the faculty and the diversity of program offerings.

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	The collateral for Loans that are secured by a mortgage on real estate generally consists of special purpose facilities, such as dormitories, dining halls and gymnasiums, which are integral components of the overall educational setting. As a result, in the event of borrower default on a Loan, the Trust’s ability to realize the outstanding balance of the Loan through the sale of the underlying collateral may be negatively impacted by the special purpose nature and location of such collateral.
8.     Fair Value of Financial Instruments	Statement of Financial Accounting Standards No. 107, “Disclosures about Fair Value of Financial Instruments,” allows for the use of a wide range of valuation techniques; therefore, it may be difficult to compare the Trust’s fair value information to independent markets or to other fair value information. Accordingly, the fair value information presented below does not purport to represent, and should not be construed to represent, the underlying market value of the Trust’s net assets or the amounts that would result from the sale or settlement of the related financial instruments. Further, as the assumptions inherent in fair value estimates change, the fair value estimates will change.
	Current market prices are not available for most of the Trust’s financial instruments since an active market generally does not exist for such instruments. In accordance with the terms of the Indenture, the Trust is required to hold all of the Loans to maturity and to use the cash flows therefrom to retire the Bonds. Accordingly, the Trust has estimated the fair values of its financial instruments using a discounted cash flow methodology. This methodology is similar to the approach used at the formation of the Trust to determine the carrying amounts of these items for financial reporting purposes. In applying the methodology, the calculations have been adjusted for the change in the relevant market rates of interest, the estimated duration of the instruments and an internally developed credit risk rating of the instruments. All calculations are based on the scheduled principal and interest payments on the Loans because the prepayment rate on these Loans is not subject to estimate.

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The estimated fair value of each category of the Trust’s financial instruments and the related book value presented in the accompanying statement of assets and liabilities as of May 31, 2006 is as follows:
	Amortized
	Cost				Fair Value
	(000’s)				(000’s)
Loans	$		53,932	*	$			66,370
Investment Agreements:
Revenue Fund	7,468				8,005
Liquidity Fund	1,416				1,735
	$		62,816		$		76,110
Bonds	$	50,600			$	59,060
*Net of allowance for loan losses of $1,232,376.

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COLLEGE AND UNIVERSITY FACILITY LOAN TRUST TWO

SCHEDULE OF INVESTMENTS

May 31, 2006

(Dollar Amounts in Thousands)

Outstanding			Stated		Internal	Amortized
Principal			Interest	Maturity	Rate of	Cost (Notes
Balance		Description	Rate %	Date	Return % (A)	1 and 2)
					(Unaudited)
		COLLEGE AND UNIVERSITY LOANS (85.9%)
		ALABAMA
$	1,285	Alabama Agricultural and Mechanical University	3.000	05/01/2018	10.27	$	868
1,555		Auburn University	3.000	12/01/2018	9.16	1,067
90		Huntingdon College	3.000	10/01/2008	10.60	81
262		Talladega College	3.000	12/01/2012	10.24	209
645		University of Alabama in Birmingham	3.000	11/01/2008	7.97	599
		CALIFORNIA
134		Azusa Pacific University	3.750	04/01/2015	10.88	98
250		California Polytechnic State University	3.000	11/01/2007	10.05	233
50		California State University	3.000	11/01/2006	8.75	49
745		California State University	3.000	11/01/2013	8.93	600
1,958		California State University	3.000	11/01/2019	8.99	1,370
339		Lassen Junior College District	3.000	04/01/2020	10.27	217
208		Occidental College	3.000	10/01/2019	10.41	134
125		San Diego State University	3.000	11/01/2006	10.04	121
1,120		University Student Co-Operative Association	3.000	04/01/2019	10.70	713
150		West Valley College	3.000	04/01/2009	10.50	130
		COLORADO
300		Regis College (Denver)	3.000	11/01/2012	10.47	236
		DELAWARE
117		Wesley College	3.375	05/01/2013	10.88	92
170		University of Delaware	3.000	11/01/2006	9.08	165
489		University of Delaware	3.000	12/01/2018	8.81	344
		FLORIDA
125		Embry-Riddle Aeronautical University	3.000	09/01/2007	10.64	115
50		Florida Atlantic University	3.000	07/01/2006	10.18	48
80		Florida Institute of Technology	3.000	11/01/2009	10.53	69
130		University of Central Florida	3.000	10/01/2007	10.08	121
1,450		University of Florida	3.000	07/01/2014	10.15	1,081
		GEORGIA
101		Emmanuel College	3.000	11/01/2013	10.45	77
105		LaGrange College	3.000	03/01/2009	11.06	90
287		Mercer University	3.000	05/01/2014	10.58	215
450		Morehouse College	3.000	07/01/2010	10.50	367
1,010		Morris Brown College	2.750-3.750	05/01/2018	10.89	686
646		Paine College	3.000	10/01/2016	10.45	452
		ILLINOIS
525		Concordia College	3.000	05/01/2019	10.65	336
840		Sangamon State University	3.000	11/01/2018	10.12	576

See accompanying accountant's compilation report and notes to financial statements.

23

Outstanding			Stated		Internal	Amortized
Principal			Interest	Maturity	Rate of	Cost (Notes
Balance		Description	Rate %	Date	Return % (A)	1 and 2)
					(Unaudited)
		INDIANA
$	158	Taylor University	3.000	10/01/2012	10.50	$	124
501		Taylor University	3.000	10/01/2013	10.49	383
3,060		Vincennes University	3.000	06/01/2023	9.02	1,951
		IOWA
222		Simpson College	3.000	07/01/2016	10.58	154
		KANSAS
40		Fort Hays State University	3.000	10/01/2007	10.08	37
		KENTUCKY
165		Georgetown College	3.000	12/01/2008	10.04	143
355		Georgetown College	3.000	12/01/2009	10.05	297
66		Spalding University	3.000	09/01/2007	10.66	62
222		Transylvania University	3.000	11/01/2010	10.51	186
		LOUISIANA
38		Dillard University	3.000	04/01/2008	11.09	35
15		Louisiana State University	3.000	07/01/2006	8.87	14
		MARYLAND
185		Hood College	3.625	11/01/2014	10.54	142
1,382		Morgan State University	3.000	11/01/2014	10.56	1,022
		MASSACHUSETTS
226		Hampshire College	3.000	07/01/2013	10.75	169
835		Hampshire College	3.000	02/01/2014	10.70	619
142		Brandeis University	3.000	11/01/2011	10.64	115
610		College of the Holy Cross	3.625	10/01/2013	10.60	482
110		College of the Holy Cross	3.000	10/01/2006	10.63	105
2,147		Northeastern University	3.000	05/01/2018	10.53	1,439
248		Springfield College	3.500	05/01/2013	10.67	196
1,813		Tufts University	3.000	10/01/2021	10.39	1,119
465		Wheaton College	3.500	04/01/2013	10.70	358
12		Wheelock College	3.000	05/01/2011	10.23	10
		MICHIGAN
48		Albion College	3.000	10/01/2009	10.56	40
		MINNESOTA
222		College of Saint Thomas	3.000	11/01/2009	10.53	192
435		College of Santa Fe	3.000	10/01/2018	10.43	293
330		MacAlester College	3.000	05/01/2020	10.46	212
		MISSISSIPPI
1,019		Hinds Junior College	3.000	04/01/2013	10.42	797
456		Millsaps College	3.000	11/01/2021	10.34	284
1,165		Mississippi State University	3.000	12/01/2020	9.64	743

See accompanying accountant's compilation report and notes to financial statements.

24

Outstanding			Stated		Internal	Amortized
Principal			Interest	Maturity	Rate of	Cost (Notes
Balance		Description	Rate %	Date	Return % (A)	1 and 2)
					(Unaudited)
		MISSOURI
$	245	Central Missouri State University	3.000	07/01/2007	10.18	$	226
176		Drury College	3.000	04/01/2015	10.63	129
216		Drury College	3.000	10/01/2010	10.75	180
71		Southeast Missouri State University	3.000	04/01/2007	10.58	66
		MONTANA
230		Carroll College	3.750	06/01/2014	10.46	174
119		Carroll College	3.000	06/01/2018	10.15	79
		NEW HAMPSHIRE
102		New England College	3.000	04/01/2016	10.77	70
		NEW JERSEY
1,190		Fairleigh Dickinson University	3.000	11/01/2017	10.39	814
395		Newark Beth Israel Hospital	3.625	01/01/2014	11.06	291
1,115		Rider College	3.625	11/01/2013	10.42	874
297		Rider College	3.000	05/01/2017	10.70	201
450		Rutgers, The State University	3.750	05/01/2016	9.19	346
		NEW YORK
705		College of Saint Rose	3.000	05/01/2022	10.43	429
400		Daemen College	3.000	04/01/2016	10.77	275
267		Dowling College	3.000	10/01/2010	10.75	223
749		D’Youville College	3.000	04/01/2018	10.90	487
1,089		Hofstra University	3.000	11/01/2012	10.61	854
281		Long Island University	3.000	11/01/2009	10.69	243
360		Long Island University	3.625	06/01/2014	10.49	270
504		Memorial Hospital for Cancer and Allied Diseases	3.375	04/01/2012	10.68	403
212		Utica College	3.000	11/01/2009	10.53	184
		NORTH CAROLINA
88		Catawba College	3.000	12/01/2009	10.27	73
270		Elizabeth City State University	3.000	10/01/2017	10.02	188
315		Saint Mary’s College	3.000	06/01/2020	10.14	202
145		University of North Carolina	3.000	01/01/2008	9.50	130
5		University of North Carolina	3.000	01/01/2007	9.50	5
		OHIO
31		Rio Grande College	3.000	03/30/2009	10.93	27
133		University of Steubenville	3.125	04/01/2010	10.98	110
480		Wittenberg University	3.000	05/01/2015	10.76	341
170		Wittenberg University	3.000	11/01/2017	10.39	116
15		Wooster Business College	3.000	03/30/2009	10.88	13
		OKLAHOMA
305		Cameron University	3.000	04/01/2007	10.16	283

See accompanying accountant's compilation report and notes to financial statements.

25

Outstanding			Stated		Internal	Amortized
Principal			Interest	Maturity	Rate of	Cost (Notes
Balance		Description	Rate %	Date	Return % (A)	1 and 2)
					(Unaudited)
		OREGON
$	557	George Fox College	3.000	07/01/2018	10.64	$	368
59		Linfield College	3.000	10/01/2017	10.44	40
		PENNSYLVANIA
348		Albright College	3.000	11/01/2015	10.23	259
90		Carnegie-Mellon University	3.000	05/01/2009	10.73	78
695		Carnegie-Mellon University	3.000	11/01/2017	10.51	474
720		Drexel University	3.500	05/01/2014	10.53	548
380		Gannon University	3.000	11/01/2011	10.49	309
161		Gannon University	3.000	12/01/2022	10.13	97
145		Lycoming College	3.625	05/01/2014	10.64	110
205		Lycoming College	3.750	05/01/2015	10.62	152
130		Moravian College	3.375	11/01/2012	10.52	104
1,867		Philadelphia College of Art	3.000	01/01/2022	10.62	1,116
355		Saint Vincent College	3.500	05/01/2013	10.86	272
218		Seton Hill College	3.625	11/01/2014	10.53	166
835		Villanova University	3.000	04/01/2019	10.70	532
262		York Hospital	3.000	05/01/2020	10.64	165
		SOUTH CAROLINA
84		Benedict College	3.000	11/01/2006	10.61	81
1,389		Benedict College	3.000	11/01/2020	10.36	883
252		Morris College	3.000	11/01/2009	10.53	218
		SOUTH DAKOTA
145		Dakota Wesleyan University	3.000	10/01/2015	10.46	110
		TENNESSEE
228		Cumberland University	3.000	08/01/2017	10.52	153
143		Hiwassee College	3.000	09/15/2018	10.58	94
		TEXAS
230		Houston Tillotson College	3.500	04/01/2014	10.90	171
138		Southern Methodist University	3.000	10/01/2007	10.61	128
1,570		Southwest Texas State University	3.000	10/01/2015	9.51	1,173
1,107		Stephen F. Austin State University	3.375-3.500	10/01/2012	9.57	905
281		Texas A & I University	3.000	07/01/2009	9.57	246
280		Texas Southern University	3.500	04/01/2013	10.45	217
491		University of Saint Thomas	3.000	10/01/2019	10.41	318
		VERMONT
90		Champlain College	3.000	12/01/2013	10.19	66
1,089		Saint Michael’s College	3.000	05/01/2013	10.60	841
160		Vermont State College	3.000	06/01/2008	9.02	145
165		Vermont State College	3.000	07/01/2014	9.30	127
		VIRGINIA
715		James Madison University	3.000	06/01/2009	10.49	613

See accompanying accountant's compilation report and notes to financial statements.

26

Outstanding			Stated		Internal	Amortized
Principal			Interest	Maturity	Rate of	Cost (Notes
Balance		Description	Rate %	Date	Return % (A)	1 and 2)
					(Unaudited)
$	308	Lynchburg College	3.750	05/01/2015	10.64	$	231
450		Lynchburg College	3.000	05/01/2018	10.68	299
208		Mary Baldwin College	3.375	05/01/2012	10.68	167
405		Marymount University	3.000	05/01/2016	10.52	283
2,203		Norfolk State University	3.000	12/01/2021	9.77	1,381
120		Randolph-Macon College	3.000	05/01/2010	10.72	102
318		Saint Paul’s College	3.000	11/01/2014	10.56	239
1,367		Virginia Commonwealth University	3.000	06/01/2011	10.01	1,111
126		Virginia Wesleyan College	3.000	11/01/2009	10.54	111
94		Virginia Wesleyan College	3.000	11/01/2010	10.51	79
		WASHINGTON
174		Seattle University	3.000	11/01/2008	10.55	156
		WEST VIRGINIA
166		Bethany College	3.375	11/01/2012	10.54	135
200		Bethany College	3.000	11/01/2017	10.40	137
285		Bethany College	3.000	11/01/2012	10.40	224
20		Wheeling College	3.000	11/01/2007	10.59	19
		WISCONSIN
274		Carroll College	3.750	03/01/2015	10.93	200
375		Marian College	3.000	10/01/2016	10.45	262
44		Saint Norbert College	3.000	04/01/2007	11.10	41
		DISTRICT OF COLUMBIA
2,175		Georgetown University	3.000	11/01/2020	10.36	1,381
5,665		Georgetown University	4.000	11/01/2020	10.52	3,819
		PUERTO RICO
24		Inter American University of Puerto Rico	3.000	09/01/2007	10.66	22
1,662		Inter American University of Puerto Rico	3.000	01/01/2017	10.94	1,130
929		University of Puerto Rico, Rio Piedras Campus	3.000	06/01/2011	9.39	768
76,789		Total College and University Loans				55,164
		Allowance for Loan Losses				1,232
		Net Loans of the Trust				53,932
		INVESTMENT AGREEMENTS (14.1%)
1,416		JPMorgan Chase Bank - Liquidity Fund	7.750	06/01/2018	7.750	1,416
7,468		JPMorgan Chase Bank - Revenue Fund	7.050	06/01/2018	7.050	7,468
8,884		Total Investment Agreements				8,884
$	85,673	Total Investments (100.0%)				$	62,816

(A) Represents the rate of return based on the contributed cost and the amortization to maturity.

See accompanying accountant's compilation report and notes to financial statements.

27

ITEM 2. CODE OF ETHICS

Not applicable to the registrant.

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT

Not applicable to the registrant.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES

 Not applicable to the registrant.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS

Not applicable to the registrant.

ITEM 6. SCHEDULE OF INVESTMENTS

Schedule is included as part of the report to shareholders filed under Item 1.

ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES

Not applicable to the registrant.

ITEM 8. PORTFOLIO MANAGER OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES

Not applicable to the registrant.

ITEM 9. PURCHASE OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS

Not applicable to the registrant.

ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

Not applicable to the registrant.

ITEM 11. CONTROLS AND PROCEDURES

(a) Not applicable to the registrant.

(b) Not applicable to the registrant.

ITEM 12. EXHIBITS

The following exhibits are attached to this Form N-CSR:

(a)

(1) Code of ethics or amendments: not applicable to the registrant.

(2) Certification by the registrant’s Owner Trustee, as required by Rule 30a-2(a) under the Investment Company Act of 1940, is attached.

(3) Annual Compliance Statement of the Servicer, GMAC Commercial Mortgage Corporation, is attached.

(4) Attestation Report of Independent Accountants, PricewaterhouseCoopers, LLP, is attached.

(5) GMAC reports pursuant to section 1301, 1302, 1303, 1304, 1306 and 1307 of the servicer agreement.

(b) Certification by the registrant’s Owner Trustee, as required by Rule 30a-2(b) under the Investment Company Act of 1940, is attached.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant)		College and University Facility Loan Trust Two
By (Signature and Title)			/s/ James Byrnes      Vice President
Date	August 4, 2006

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title)		/s/ James Byrnes      Vice President
Date	August 4, 2006

EX-99.CERT

Exhibit 99.CERT

Certification

I, Bryan Calder of the owner trustee, certify that:

1. I have reviewed this report on Form N-CSR of College and University Facility Loan Trust Two (the “Registrant”);

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

3. Based on my knowledge, the financial statements, and other financial information included in the report, fairly present in all material respects the financial condition, results of operation, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in the report;

4. Based on my knowledge, the distribution or servicing information required to be provided to the trustee by the servicer under the pooling and servicing, or similar, agreement, for inclusion in this report is included in this report;

5. Based on my knowledge and upon the annual compliance statement included in the report and required to be delivered to the trustee in accordance with the terms of the pooling and servicing, or similar, agreement, and except as disclosed in this report, the servicer has fulfilled its obligations under the servicing agreement; and

6. The report discloses all significant deficiencies relating to the servicer’s compliance with the minimum servicing standards based upon the report provided by an independent public accountant, after conducting a review in compliance with the Uniform Single Attestation Program for Mortgage Bankers or similar procedure, as set forth in the pooling and servicing, or similar, agreement, that is included in this report.

In giving the certifications above, I have reasonably relied on information provided to me by the following unaffiliated parties: GMAC Commercial Mortgage Corporation and J.P. Morgan Trust Company National Association.

Date: August 4, 2006

  /s/ Bryan Calder

Bryan Calder

Executive Vice President

EX-99.906CERT

Exhibit 99.906CERT

CERTIFICATION PURSUANT TO SECTION 906 OF THE

SARBANES-OXLEY ACT OF 2002

I, Bryan Calder, Executive Vice President of US Bank, the Owner Trustee of College and University Facility Loan Trust Two (the “Registrant”), hereby certifies that:

1.the Registrant’s report on Form N-CSR (the “Report”) for the period ended May 31, 2006 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2.The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Date:	August 4, 2006
By:	/s/ Bryan Calder
	Executive Vice President

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to the Registrant and will be retained by the Registrant and furnished to the Securities and Exchange Commission or its staff upon request.

EX-99.3

Exhibit 99.3

Annual Certification by Officer
For the Year Ended December 31, 2005

United States Department of Education
College and University Facility Loan Trust Two

Pursuant to Section 206 and 207 of the Servicing Agreement, I attest that:

(i)            A review of the activities and performance of GMAC Commercial Mortgage Corporation as Servicer during the period under this Servicing Agreement, has been made under my supervision, and, to the best of my knowledge, based on such review, GMAC Commercial Mortgage Corporation as Servicer, has fulfilled in all material respects, all of its duties, responsibilities, or obligations under this Servicing Agreement throughout the period.

(ii)I confirm that GMAC Commercial Mortgage Corporation as Servicer is in compliance with the requirements of Section 202.

GMAC COMMERCIAL MORTGAGE CORPORATION

/s/ Mark E. McCool
By:	Mark E. McCool
Title:	Senior Vice President
Date:	February 20, 2006

200 Witmer Road - P.O. Box 1015 - Horsham, PA 19044-8015

EX-99.4

Exhibit 99.4

GMAC Commercial
Mortgage Corporation

Report on Compliance with Minimum
Master Servicing Standards
December 31, 2005

PricewaterhouseCoopers LLP

PricewaterhouseCoopers Center

300 Madison Avenue

New York NY 10017

Telephone (646) 471 3000

Facsimile (813) 286 6000

Report of Independent Accountants

To the Board of Directors and Shareholder of GMAC Commercial Mortgage Corporation:

We have examined management’s assertion, dated February 27, 2006, about GMAC Commercial Mortgage Corporation’s (the “Company’s”) compliance with its established minimum master servicing policy (“Master Servicing Policy”), which management derived from the Mortgage Bankers Association of America’s Uniform Single Attestation Program for Mortgage Bankers (USAP), as of and for the year ended December 31, 2005 included in the accompanying management assertion (see Exhibit I). Management is responsible for the Company’s compliance with the Master Servicing Policy. Our responsibility is to express an opinion on management’s assertion about the Company’s compliance based on our examination.

Our examination was made in accordance with the standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about the Company’s compliance with the Master Servicing Policy and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination of the Company’s compliance with the Master Servicing Policy.

In our opinion, management’s assertion that, except for instances of noncompliance, the Company complied with the aforementioned Master Servicing Policy as of and for the year ended December 31, 2005 is fairly stated, in all material respects.

February 27, 2006

Exhibit I

Management’s Assertion Concerning Compliance With Minimum Master Servicing Standards

February 27, 2006

As of and for the year ended December 31, 2005, for the master servicing transactions included in Exhibit II, GMAC Commercial Mortgage Corporation has complied, in all material respects, with the applicable minimum master servicing standards set forth in the company’s Master Servicing Policy (attached in Exhibit III), which were derived from the Mortgage Bankers Association of America’s Uniform Single Attestation Program for Mortgage Bankers, except with respect to the requirement to timely prepare bank reconciliations for custodial bank accounts and timely clear reconciling items, for which the company was not in compliance during the year.

As of December 31, 2005, the company was covered by various General Motors Corporation insurance policies providing $300 million of fidelity bond insurance and $100 million of errors and omissions insurance.

/s/ Robert D. Feller

Robert D. Feller

Chief Executive Officer

/s/ Michael I. Lipson

Michael I. Lipson

Executive Vice President, Global Servicing

/s/ Wayne D. Hoch

Wayne D. Hoch

Executive Vice President and Chief Financial Officer

Exhibit II

GMAC COMMERCIAL MORTGAGE CORPORATION
TRANSACTIONS ASSOCIATED WITH MASTER SERVICING
RESPONSIBILITIES

277 PARK AVE FINANCE CORP

ACMF I SERIES 1997-C1

AETNA, SERIES 1995-C5

AMC DEPOSITOR, SERIES 1999-1

ASC, SERIES 1996-D3

ASC, SERIES 1997-D4

ASW, SERIES 1993-2

ATHERTON - PAINE WEBBER WHSE

ATHERTON, SERIES 1997-1

ATHERTON, SERIES 1998-A

ATHERTON, SERIES 1999-A

BACM, SERIES 2001-C1

BANK OF AMERICA 2002-X1

BKB, SERIES 1997-C1

Cal West Trust II

CALSTRS, SERIES 2002-C6

CAPCO, SERIES 1998-D7

CAPITAL TRUST RE CDO 2004-1

CBM, SERIES 1996-1

CDC, SERIES 2002-FX1

CG, Series 2004-FL1

CHASE, SERIES 1996-1

CHASE, SERIES 1996-2

CHASE, SERIES 1997-1

CHASE, SERIES 1997-2

CHASE, SERIES 1998-2

CHASE, SERIES 2000-FL1

CHASE, SERIES 2001-FL1

CHASE-FIRST UNION, 1999-1

CITIBANK, SERIES 1994-C2

CITICORP LEASE TRUST, SERIES 1999-1

COLUMBIA CTR TRUST, 2000-CCT

COLUMN, SERIES 2002-CCL1

COMM, SERIES 2001-FL5

COMM, SERIES 2001-J2

COMM, SERIES 2003-LNB1

COMM, Series 2004-LNB2

COMM, Series 2004-LNB4

CSFB, SERIES 1995-M1

CSFB, SERIES 1997-PS1

CSFB, SERIES 1998-PS2

CSFB, SERIES 1999-PS3

CSFB, SERIES 2000-C1

CSFB, SERIES 2000-PS4

CSFB, SERIES 2001-CF2

CSFB, SERIES 2001-SPG1

DAIWA, SERIES 1993-1

DENVER PUBLIC SCHOOLS RET.

DEUTSCHE BANC MORTGAGE (184)

DLJ, SERIES 1996-CF1

DLJ, SERIES 1997-CF1

DLJ-FB, SERIES 1994-MF1

ED I

ED II

EMAC, SERIES 1998-1

EMAC, SERIES 1999-1

EMAC, SERIES 2000-1

FIRST BOSTON, SERIES 1995-MF1

FMAC, SERIES 1991-A

FMAC, SERIES 1993-B

FMAC, SERIES 1994-A

FMAC, SERIES 1995-B

FMAC, SERIES 1996-B

FMAC, SERIES 1997-A

FMAC, SERIES 1997-B

FMAC, SERIES 1997-C

FMAC, SERIES 1998-A

FMAC, SERIES 1998-B

FMAC, SERIES 1998-C

FMAC, SERIES 1998-D

FMAC, SERIES 2000-A

FMHA

FNMA, SERIES 1998-M1

FOREST CITY, SERIES 1994-1

FREEHOLD RACEWAY MALL 2001-FRM

G3 STRATEGIC INV. LP 2002 WL1

GAFCO FRANCHISE 1998-1

GFCM 2003-1

GGP MALL PROP TR, SERIES 2001-GGP1

GIA SERIES 2001-A

GMACCM 2003-C2

GMACCM CANADA, SERIES 2002-FL1

GMACCM HF1, SERIES 1999-1

GMACCM HF1, SERIES 1999-2

GMACCM Seniors 2003-A

GMACCM, SERIES 1996-C1

GMACCM, SERIES 1996-C2

GMACCM, SERIES 1997-C1

GMACCM, SERIES 1997-C2

GMACCM, SERIES 1998-C1

GMACCM, SERIES 1998-C2

GMACCM, SERIES 1999-C1

GMACCM, SERIES 1999-C2

GMACCM, SERIES 1999-C3

GMACCM, SERIES 1999-CTL1

GMACCM, SERIES 2000-C1

GMACCM, SERIES 2000-C2

GMACCM, SERIES 2000-C3

GMACCM, SERIES 2000-FL1

GMACCM, SERIES 2000-FLA

GMACCM, SERIES 2000-FLB

GMACCM, SERIES 2000-FLE

GMACCM, SERIES 2000-FLF

GMACCM, SERIES 2001-A

GMACCM, SERIES 2001-C1

GMACCM, SERIES 2001-C2

GMACCM, SERIES 2001-FL1

GMACCM, SERIES 2001-FLA

GMACCM, SERIES 2002-C1

GMACCM, SERIES 2002-C2

GMACCM, SERIES 2002-C3

GMACCM, SERIES 2002-FL1

GMACCM, SERIES 2002-LT

GMACCM, SERIES 2003 DOUBLE EAGLE

GMACCM, SERIES 2003-C1

GMACCM, Series 2003-C3

GMACCM, Series 2003-FL1

GMACCM, SERIES 2003-FLA

GMACCM, SERIES 2003-FL-SNF

GMACCM, Series 2003-PMSRLP

GMACCM, Series 2004-C1

GMACCM, SERIES 2004-C2

GMACCM, Series 2004-C3

G-MAX 2002 FL-A

G-MAX 2002-FX-1

GSMCII, Series 2003-C1

GSMSC II, SERIES 1997-GLI

GSMSC II, SERIES 1998-C1

GSMSC II, SERIES 1998-GLII

GSMSC II, SERIES 1999-C1

GSMSC II, SERIES 2001-1285

GSMSC II, SERIES 2001-GL3

GSMSC II, SERIES 2001-ROCK

GSMSC II, SERIES 2002-GSFL V

HUD

IPS, SERIES 2003-1

ISTAR, SERIES 2002-1

ISTAR, SERIES 2003-1

JPMC 2002-C3

JPMC, SERIES 2001-A

JPMC, SERIES 2001-CIBC1

JPMC, Series 2004-C1

JPMC, SERIES 2004-C2

JPMC, Series 2004-CIBC10

JPMC, Series 2004-CIBC8

JPMC, SERIES 2004-CIBC9

JPMC, SERIES 2004-LN2

KS MORTGAGE CAP, SERIES 1995-1

LAKEWOOD MALL

LEHMAN, SERIES 1992-1

LEHMAN, SERIES 1992-2

LEHMAN, SERIES 1994-C2

LEHMAN, SERIES 1995-C2

LEHMAN, SERIES 1996-1

LEHMAN, SERIES 1996-C2

LEHMAN, SERIES 1998-C1

LEHMAN, SERIES 2003-C4

LIBRARY TOWER, SERIES 1998-1

LLL, SERIES 1997-LL1

LONG LANE MASTER TRUST IV

LTC, SERIES 1996-1

LTC, SERIES 1998-1

MALL OF AMERICA, SERIES 2000-1

MCF, SERIES 1993-C1-C2

MCF, SERIES 1995-MC1

MCF, SERIES 1996-MC1

MCF, SERIES 1996-MC2

MCF, SERIES 1998-MC1

MCF, SERIES 1998-MC3

MERRILL, SERIES 1995-C1

MERRILL, SERIES 1995-C2

MERRILL, SERIES 1995-C3

MERRILL, SERIES 1996-C1

MERRILL, SERIES 1997-C1

MERRILL, SERIES 1998-C1-CTL

MERRILL, SERIES 1999-C2

MERRILL, SERIES 2000-C3

MERRILL, SERIES 2000-C4

MERRILL, SERIES 2001-C5

MERRILL, SERIES 2001-LBC

MERRILL, SERIES 2002-BC2P

MERRILL, SERIES 2002-C7

MERRILL, SERIES 2002-C8

MERRILL, SERIES 2003-C10

MERRILL, SERIES 2003-C11

ML, SERIES 2003-C9

MORGAN, SERIES 1996-C1

MORGAN, SERIES 1997-C1

MORGAN, SERIES 1997-XL I

MORGAN, SERIES 1998-CF1

MORGAN, SERIES 1998-HF1

MORGAN, SERIES 1998-HF2

MORGAN, SERIES 1999-RM1

MORGAN, SERIES 2002-HQ

MSCI 2004-HQ4

MSDW 2003-IQ4

MSDW CAPTIAL I TRUST 2002-IQ3

MSDW, SERIES 1997-HF1

MSDW, SERIES 1999-FNV1

MSDW, SERIES 2001-IQ

MSDW, SERIES 2001-PPM

MSDW, SERIES 2002-WM

MSDW, Series 2003-IQ5

NATIONS LINK, SERIES 1996-1

NB, SERIES-DMC

NEW ENDLAND MUTUAL LIFE, SERIES 1993-1

NOMURA MEGADEAL, SERIES 1995-MD IV

NOMURA MEGADEAL, SERIES 1996-MD V

NOMURA, SERIES 1993-1

NOMURA, SERIES 1994-MD1

NOMURA, SERIES 1996 MD VI

NOMURA, SERIES 1998-D6

NOMURA, SERIES 1998-STI

OREGAN, SERIES 1995-1

PAINE WEBBER, SERIES 1996-M1

REAL-T, Series 2004-1

SALOMON, SERIES 1999-C1

SALOMON, SERIES 2000-C1

SASCO, SERIES 1995-C4

SC FUNDING, SERIES 1993-1

SDG MACERICH PROPERTIES LP CMO

SL COMMERCIAL, SERIES 1997-C1

SOLAR TRUST, SERIES 2001-1

SOLAR TRUST, SERIES 2002-1

Solar Trust, Series 2003-CC1

STRUCTURED MTG, SERIES 1994-M1

U-HAUL, SERIES 1993-1

Exhibit III

GMAC COMMERCIAL MORTGAGE CORPORATION
MINIMUM MASTER SERVICING POLICY

I.CUSTODIAL BANK ACCOUNTS

1.Reconciliations shall be prepared on a monthly basis for all custodial bank accounts and related bank clearing accounts. These reconciliations shall:

•be mathematically accurate;

•be prepared within forty-five (45) calendar days after the cutoff date, but in any event in accordance with the applicable servicing agreements;

•be reviewed and approved by someone other than the person who prepared the reconciliation; and

•evidence explanations for reconciling items which shall be resolved within ninety (90) calendar days of identification.

2.Funds of the servicing entity shall be advanced as specified in the applicable servicing agreements in cases where there is potential for an overdraft in an investor’s account or a request letter has been received from a subservicer for a servicing advance stipulated by the subservicing agreement.

3.All cash for each custodial account shall be maintained at a federally insured depository institution in trust for the applicable investor or in an investment account in accordance with the applicable servicing agreement requirements.

II.MORTGAGE PAYMENTS

1.Mortgage payments shall be deposited into the custodial bank accounts and related bank clearing accounts within two business days of receipt from the subservicer.

2.Mortgage payments made in accordance with the mortgagor’s loan documents shall be posted to the applicable mortgagor records within two business days of receipt from the subservicer.

III.DISBURSEMENTS

1.Remittances made via wire transfer on behalf of a mortgagor or investor shall be made only by authorized personnel.

2.Amounts remitted to investors per the servicer’s investor reports shall agree with cancelled checks, or other form of payment, or custodial bank statements.

IV.INVESTOR ACCOUNTING AND REPORTING

1.Monthly investor reports shall be sent in a timely manner listing loan level detail of payments and balances, and all other data required by the servicing agreements.

V.INSURANCE POLICIES

1.A fidelity bond and errors and omissions policy shall be in effect on the servicing entity in the amount of coverage represented to investors in management’s assertion.

VI.MONITORING OF SUBSERVICER COMPLIANCE

1.Within 120 days of a subservicer’s year-end, the subservicer’s management assertions about compliance with minimum servicing standards, which were derived form the Mortgage Bankers Association of America’s Uniform Single Attestation Program for Mortgage Bankers, and the Independent Auditors Report on management’s assertions shall be reviewed, and if material exceptions are found, appropriate corrective action will be taken.

2.An annual certification from each subservicer stating that the subservicer is in compliance with its subservicer agreement shall be obtained by April 30^th for the previous calendar year.

EX-99.5

Exhibit 99.5

GMAC Commercial Mortgage

College and University Loan Trust II

Collection Account Activity Report

For the Period of December 1, 2005 through December 31, 2005

Collections:
Principal Payments	739,970.63
Interest Payments	262,655.90
Total Principal and Interest Collections	1,002,626.53
Payments and Reversals Posted to Suspense	(181,685.00	)
Total Collections	820,941.53
Less: Servicing Fees (not withheld from remittances)	(5,802.65	)
Net Collections	815,138.88

GMAC Commercial Mortgage

College & Trust Facility Loan Trust II

Service Fees Schedule

For the Period of December 1, 2005 through December 31, 2005

Date Due	GMACCM Number	Borrower Name	Principal Due	Interest Due	Total Due	Principal Balance	Service Fees
12-01-2005	30101601	AUBURN UNIVER	95,000.00	24,750.00	119,750.00	1,650,000.00	618.75
12-01-2005	30104702	CARROLL COLLE	0.00	4,312.50	4,312.50	230,000.00	86.25
12-01-2005	30104703	CARROLL COLLE	3,899.62	1,843.37	5,742.99	122,891.81	46.08
12-01-2005	30105101	CATAWBA COLLE	12,000.00	1,695.00	13,695.00	113,000.00	42.38
12-01-2005	30105701	CHAMPLAIN COL	5,241.33	1,509.60	6,750.93	100,640.71	37.74
12-01-2005	30106401	COKER COLLEGE	14,000.00	1,080.00	15,080.00	71,999.99	27.00
12-01-2005	30111803	GANNON UNIVER	3,621.51	2,476.67	6,098.18	165,111.51	61.92
12-01-2005	30112202	GEORGETOWN CO	53,000.00	3,270.00	56,270.00	218,000.00	81.75
12-01-2005	30112203	GEORGETOWN CO	85,000.00	6,600.00	91,600.00	440,000.00	165.00
12-01-2005	30113501	HIGH POINT CO	14,000.00	2,520.00	16,520.00	168,000.00	63.00
12-01-2005	30115001	JAMES MADISON	0.00	10,725.00	10,725.00	715,000.00	268.13
12-01-2005	30116601	LENOIR RHYNE	25,000.00	660.00	25,660.00	44,000.00	16.50
12-01-2005	30117002	LONG ISLAND U	0.00	6,525.00	6,525.00	360,000.00	135.00
12-01-2005	30119903	MISSISSIPPI S	65,000.00	18,450.00	83,450.00	1,230,000.00	461.25
12-01-2005	30121501	NORFOLK STATE	53,336.12	33,840.66	87,176.78	2,256,044.24	846.02
12-01-2005	30122701	NOVA UNIVERSI	45,000.00	2,025.00	47,025.00	135,000.00	50.63
12-01-2005	30127402	ST MARY’S COL	9,000.00	4,860.00	13,860.00	324,000.00	121.50
12-01-2005	30131702	TALLADEGA COL	15,000.00	3,705.00	18,705.00	247,000.00	92.63
12-01-2005	30134305	UNIVERSITY OF	15,000.00	7,560.00	22,560.00	504,000.00	189.00
12-01-2005	30136002	UNIVERSITY OF	0.00	13,935.00	13,935.00	929,000.00	348.38
12-01-2005	30137701	VERMONT STATE	0.00	2,400.00	2,400.00	160,000.00	60.00
12-01-2005	30137901	VINCENNES UNI	0.00	45,900.00	45,900.00	3,060,000.00	1,147.50
12-01-2005	30138001	VIRGINIA COMM	0.00	20,505.00	20,505.00	1,366,999.99	512.62
		TOTALS:	513,098.58	221,147.80	734,246.38	14,610,688.25	5,479.03
							341.25
							75.00
							(92.63	)
							5,802.65
							341.25		Loan # 03-0120705 rec'd 12/13/05
							75.00		Loan # 03-0120706 rec'd 12/13/05
							(92.63	)	Loan#03-0131702
							5,802.65		Service Fees withheld for December 2005

1

GMAC Commercial Mortgage

College and University Loan Trust II

Paid in full Schedule

For the Period of December 1, 2005 through December 31, 2005

Loan Number	Payoff Date	Total Amount Paid	Principal Amount	Interest Amount	Other Fees	Maturity Date
30116601	12-19-05	44,660.00	44,000.00	660.00	—	12/1/2006
30122701	12-06-05	137,025.00	135,000.00	2,025.00	—	12/1/2007
30138302	12-27-05	88,631.25	87,000.00	1,631.25	—	4/1/2011
TOTALS:		—	—	—	—

GMAC Commercial Mortgage

College and University Loan Trust II

Summary of Partial Prepayments

For the Period of December 1, 2005 through December 31, 2005

Loan Number	Payoff Date	Total Amount Paid	Principal Amount	Interest Amount
None to Report this period
	TOTAL:	—	—	—

GMAC Commercial Mortgage

College and University Loan Trust II

Trial Balance

As of December 31, 2005

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
30100102	ALABAMA AGRICULTURAL	3.00	75,000.00	7-01-2005
30100103	ALABAMA AGRICULTURAL	3.00	1,375,000.00	5-01-2018
30100201	ALBION COLLEGE	3.00	48,000.00	10-01-2009
30100301	ALBRIGHT COLLEGE	3.00	348,000.00	11-01-2015
30101102	ANDERSON COLLEGE	3.00	35,000.00	3-01-2006
30101601	AUBURN UNIVERSITY	3.00	1,555,000.00	12-01-2018
30101701	AZUSA PACIFIC UNIVERSITY	3.75	146,000.00	4-01-2015
30102603	BENEDICT COLLEGE	3.00	84,000.00	11-01-2006
30102604	BENEDICT COLLEGE	3.00	1,389,000.00	11-01-2020
30102802	BETHANY COLLEGE - DORM BOND 1965	3.38	166,000.00	11-01-2012
30102803	BETHANY COLLEGE - HALL BOND 1967	3.00	200,000.00	11-01-2017
30102804	BETHANY COLLEGE - NOTE OF 1973	3.00	305,000.00	11-01-2012
30103302	BRANDEIS UNIVERSITY	3.00	153,641.54	11-01-2011
30103901	CALIFORNIA STATE COLLEGES	3.00	250,000.00	11-01-2007
30104001	CALIFORNIA STATE UNIVERSITY,	3.00	50,000.00	11-01-2006
30104102	CALIFORNIA STATE UNIVERSITY,	3.00	745,000.00	11-01-2013
30104201	TRUST SERVICES DIVISION	3.00	1,958,000.00	11-01-2019
30104401	CAMERON UNIVERSITY	3.00	610,000.00	4-01-2007
30104604	CARNEGIE MELLON	3.00	120,000.00	5-01-2009
30104605	CARNEGIE MELLON	3.00	720,000.00	11-01-2017
30104702	CARROLL COLLEGE	3.75	230,000.00	6-01-2014
30104703	CARROLL COLLEGE	3.00	118,992.19	6-01-2018
30104801	CARROLL COLLEGE - DORM BOND 1965	3.75	324,000.00	3-01-2015
30105101	CATAWBA COLLEGE	3.00	101,000.00	12-01-2009
30105404	CENTRAL MISSOURI STATE	3.00	245,000.00	7-01-2007
30105701	CHAMPLAIN COLLEGE, INC.	3.00	95,399.38	12-01-2013
30106702	COLLEGE OF SAINT ROSE	3.00	722,553.53	5-01-2022
30106802	COLLEGE OF ST. THOMAS	3.00	222,000.00	11-01-2009
30106904	COLLEGE OF SANTA FE	3.00	435,000.00	10-01-2018
30107002	COLLEGE OF THE HOLY CROSS	3.63	610,000.00	10-01-2013
30107003	COLLEGE OF THE HOLY CROSS	3.00	110,000.00	10-01-2006
30107601	CONCORDIA COLLEGE	3.00	66,000.00	4-01-2009
30107701	CONCORDIA COLLEGE	3.00	555,000.00	5-01-2019
30108101	CUMBERLAND COLLEGE	3.00	228,000.00	8-01-2017
30108202	DAEMEN COLLEGE(ROSARY HILL COLLEGE)	3.00	435,000.00	4-01-2016
30108301	DAKOTA WESLEYAN UNIVERSITY	3.00	145,000.00	10-01-2015
30108801	DILLARD UNIVERSITY	3.00	69,000.00	4-01-2008
30109301	DOWLING COLLEGE	3.00	294,000.00	10-01-2010
30109502	DREXEL UNIVERSITY	3.50	800,000.00	5-01-2014
30109604	DRURY COLLEGE	3.00	185,000.00	4-01-2015
30109605	DRURY COLLEGE	3.00	238,000.00	10-01-2010
30109801	DYOURVILLE COLLEGE	3.00	801,535.00	4-01-2018
30110101	ELIZABETH CITY STATE UNIVERSITY	3.00	270,000.00	10-01-2017
30110301	EMBRY RIDDLE AERONAUTICAL UNIV.	3.00	125,000.00	9-01-2007
30110401	EMMANUEL COLLEGE	3.00	101,000.00	11-01-2013
30110802	FAIRLEIGH DICKINSON UNIV	3.00	1,190,000.00	11-01-2017
30111202	FLORIDA ATLANTIC UNIVERSITY-SER A	3.00	50,000.00	7-01-2006
30111301	FLORIDA INSTITUTE OF TECHNOLOGY	3.00	80,000.00	11-01-2009
30111603	FT HAYES STATE UNIVERSITY	3.00	40,000.00	10-01-2007
30111802	GANNON UNIV. - DORM BOND 1969, SER A	3.00	379,999.98	11-01-2011

1

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
30111803	GANNON UNIVERSITY	3.00	161,490.00	12-01-2022
30111901	GAVILAN COLLEGE	3.00	12,000.00	4-01-2006
30112002	GEORGE FOX COLLEGE	3.00	565,876.91	7-01-2018
30112202	GEORGETOWN COLLEGE	3.00	165,000.00	12-01-2008
30112203	GEORGETOWN COLLEGE	3.00	355,000.00	12-01-2009
30112301	GEORGETOWN UNIVERSITY	3.00	2,175,000.00	11-01-2020
30112302	GEORGETOWN UNIVERSITY	4.00	5,665,000.00	11-01-2020
30112901	HAMPSHIRE COLLEGE	3.00	225,714.79	7-01-2013
30112902	HAMPSHIRE COLLEGE	3.00	880,645.60	2-01-2014
30113401	HESSTON COLLEGE	3.00	23,000.00	4-01-2006
30113501	HIGH POINT COLLEGE	3.00	154,000.00	12-01-2010
30113601	HINDS JUNIOR COLLEGE	3.00	1,169,000.00	4-01-2013
30113702	HIWASSEE COLLEGE	3.00	147,772.18	9-15-2018
30113801	HOFSTRA UNIVERSITY	3.00	1,164,323.49	11-01-2012
30114001	HOOD COLLEGE	3.63	185,000.00	11-01-2014
30114201	HUSTON-TILLOTSON COLLEGE - DORM 1964	3.50	255,000.00	4-01-2014
30114302	HUNTINGDON COLLEGE - DORM 1968	3.00	90,000.00	10-01-2008
30114801	INTER AMERICAN UNIVERSITY OF PUERTO RICO	3.00	24,000.00	9-01-2007
30114802	INTER-AMERICAN UNIV. OF PUERTO RICO	3.00	1,662,070.94	1-01-2017
30115001	JAMES MADISON UNIVERSITY	3.00	715,000.00	6-01-2009
30115803	KNOX COLLEGE - DORM BONDS 1966	3.00	50,000.00	4-01-2006
30115901	LA GRANGE COLLEGE	3.00	135,000.00	3-01-2009
30116201	LASSEN JUNIOR COLLEGE	3.00	359,000.00	4-01-2020
30116801	LINFIELD COLLEGE - HALL BONDS 1968	3.00	59,000.00	10-01-2017
30116903	LONG ISLAND UNIVERSITY	3.00	91,185.31	11-01-2009
30116904	LONG ISLAND UNIVERSITY	3.00	318,746.80	11-01-2009
30117002	LONG ISLAND UNIVERSITY	3.63	360,000.00	6-01-2014
30117204	LA. STATE UNIV. 1965 BOND SER B	3.00	38,000.00	7-01-2005
30117205	LA. STATE UNIV. 1966 BOND SER C	3.00	15,000.00	7-01-2006
30117402	LYCOMING COLLEGE	3.63	160,000.00	5-01-2014
30117403	LYCOMING COLLEGE	3.75	224,999.99	5-01-2015
30117501	LYNCHBURG COLLEGE	3.75	338,000.00	5-01-2015
30117502	LYNCHBURG COLLEGE	3.00	480,000.00	5-01-2018
30117602	MACALESTER COLLEGE	3.00	339,312.14	5-01-2020
30117801	MARIAN COLLEGE OF FOND DU LAC	3.00	375,000.00	10-01-2016
30118302	MARY BALDWIN COLLEGE	3.38	243,000.00	5-01-2012
30118401	MARYMOUNT UNIVERSITY	3.00	440,000.00	5-01-2016
30118701	MCLENNAN COMMUNITY COLLEGE	3.00	105,000.00	4-01-2006
30119001	SLOAN-MEMORIAL KETTERING CANCER CENTER	3.38	584,000.00	4-01-2012
30119202	MERCER UNIV. ACCOUNTING OFFICE	3.00	302,466.43	5-01-2014
30119801	MILLSAPS COLLEGE	3.00	456,000.00	11-01-2021
30119903	MISSISSIPPI STATE UNIVERSITY	3.00	1,165,000.00	12-01-2020
30120402	MORAVIAN COLLEGE	3.38	130,000.00	11-01-2012
30120501	MOREHOUSE COLLEGE	3.00	449,999.50	7-01-2010
30120601	MORGAN STATE UNIVERSTIY	3.00	1,453,538.35	11-01-2014
30120701	MORRIS BROWN COLLEGE	3.75	55,000.00	5-01-2007
30120705	MORRIS BROWN COLLEGE	3.00	910,000.00	5-01-2018
30120706	MORRIS BROWN COLLEGE	3.00	200,000.00	5-01-2010
30120801	MORRIS COLLEGE	3.00	252,000.00	11-01-2009
30121101	NEW ENGLAND COLLEGE	3.00	111,000.00	4-01-2016

2

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
30121201	NEWARK BETH ISREAL MEDICAL CENTER	3.63	435,000.00	1-01-2014
30121501	NORFOLK STATE UNIVERSITY	3.00	2,202,708.12	12-01-2021
30122302	NORTHEASTERN UNIVERSITY	3.00	2,221,132.74	5-01-2018
30122802	OCCIDENTAL COLLEGE	3.00	208,000.00	10-01-2019
30123401	PAINE COLLEGE	3.00	645,999.99	10-01-2016
30123701	UNIVERSITY OF THE ARTS	3.00	1,912,666.64	1-01-2022
30124901	RANDOLPH MACON COLLEGE	3.00	135,000.00	5-01-2010
30125102	REGIS COLLEGE	3.00	300,000.00	11-01-2012
30125504	RIDER COLLEGE	3.63	1,115,000.00	11-01-2013
30125506	RIDER COLLEGE	3.00	322,000.00	5-01-2017
30125601	RIO GRANDE COLLEGE	3.00	35,583.51	3-30-2009
30126102	RUTGERS, THE STATE UNIVERSITY	3.75	485,000.00	5-01-2016
30127402	ST MARY’S COLLEGE	3.00	315,000.00	6-01-2020
30127602	SAINT MICHAELS COLLEGE	3.00	1,158,543.67	5-01-2013
30127703	SAINT NORBERT COLLEGE	3.00	95,000.00	4-01-2007
30127801	SAINT PAULS COLLEGE	3.00	317,559.01	11-01-2014
30128001	SAINT VINCENT COLLEGE	3.50	400,000.00	5-01-2013
30128301	CALIFORNIA STATE COLLEGES	3.00	125,000.00	11-01-2006
30128401	UNIVERSITY OF ILLINOIS	3.00	870,000.00	11-01-2018
30128602	SEATTLE UNIVERSITY - 1967 PHYS ED	3.00	174,000.00	11-01-2008
30128802	SETON HILL COLLEGE	3.63	218,000.00	11-01-2014
30129101	SIMPSON COLLEGE - BOND 1966	3.00	222,000.00	7-01-2016
30129402	SOUTHEAST MISSOURI STATE UNIV(ESCROW)	3.00	236,000.00	4-01-2007
30129802	SOUTHERN METHODIST UNIVERSITY	3.00	138,000.00	10-01-2007
30130301	SOUTHWEST TEXAS STATE UNIVERSITY	3.00	1,570,000.00	10-01-2015
30130502	SPALDING UNIVERSITY	3.00	66,000.00	9-01-2007
30130703	SPRINGFIELD COLLEGE	3.50	283,000.00	5-01-2013
30130903	STEPHEN F AUSTIN STATE UNIVERSITY	3.38	1,107,000.00	10-01-2012
30131003	JOHN B. STETSON UNIVERSITY	3.00	28,000.00	1-01-2006
30131702	TALLADEGA COLLEGE	3.00	265,895.00	12-01-2012
30132002	TAYLOR UNIVERSITY	3.00	158,000.00	10-01-2012
30132003	TAYLOR UNIVERSITY	3.00	501,000.00	10-01-2013
30132301	TEXAS A & I UNIV-BLDG SYS SER 1969A	3.00	281,000.00	7-01-2009
30132402	TEXAS SOUTHERN UNIVERSITY	3.50	315,000.00	4-01-2013
30132601	TRANSYLVANIA UNIVERSITY	3.00	222,000.00	11-01-2010
30132904	TUFTS UNIVERSITY	3.00	1,813,000.00	10-01-2021
30133201	UNIV STUDENT COOP HOUSING	3.00	1,325,000.00	4-01-2019
30133301	UNIVERSITY OF ALABAMA	3.00	645,000.00	11-01-2008
30134002	ARKANSAS STATE TEACHERS COLLEGE	3.00	78,000.00	4-01-2005
30134101	UNIVERSITY OF CENTRAL FLORIDA	3.00	130,000.00	10-01-2007
30134304	UNIVERSITY OF DELAWARE	3.00	170,000.00	11-01-2006
30134305	UNIVERSITY OF DELAWARE	3.00	489,000.00	12-01-2018
30134402	UNIVERSITY OF FLORIDA / REV. CERTS.,84	3.00	1,450,000.00	7-01-2014
30135701	UNIVERSITY OF NORTH CAROLINA	3.00	215,000.00	1-01-2008
30135702	UNIVERSITY OF NORTH CAROLINA	3.00	13,000.00	1-01-2007
30136002	UNIVERSITY OF PUERTO RICO	3.00	929,000.00	6-01-2011
30136801	UNIVERSITY OF ST THOMAS	3.00	491,000.00	10-01-2019
30136901	UNIV OF STEUBENVILLE	3.13	164,000.00	4-01-2010
30137501	UTICA COLLEGE OF SYRACUSE	3.00	212,000.00	11-01-2009
30137701	VERMONT STATE COLLEGE	3.00	160,000.00	6-01-2008

3

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
30137702	VERMONT STATE COLLEGE	3.00	165,000.00	7-01-2014
30137802	VILLANOVA UNIVERSITY	3.00	885,000.00	4-01-2019
30137901	VINCENNES UNIVERSITY	3.00	3,060,000.00	6-01-2023
30138001	VIRGINIA COMMONWEALTH	3.00	1,366,999.99	6-01-2011
30138101	VIRGINIA WESELAN COLLEGE	3.00	126,000.00	11-01-2009
30138102	VIRGINA ST WESELEYAN COLLEGE	3.00	94,000.00	11-01-2010
30138702	WESLEY COLLEGE	3.38	134,000.00	5-01-2013
30139001	WEST VALLEY COLLEGE	3.00	200,000.00	4-01-2009
30140003	WHEATON COLLEGE	3.50	525,000.00	4-01-2013
30140102	WHEELING COLLEGE	3.00	20,000.00	11-01-2007
30140201	WHEELOCH COLLEGE	3.00	12,411.56	5-01-2011
30140502	WITTENBERG UNIVERSITY	3.00	525,000.00	5-01-2015
30140503	WITTENBERG UNIVERSITY	3.00	170,000.00	11-01-2017
30140601	THE COLLEGE OF WOOSTER	3.00	16,920.20	3-30-2009
30141001	YORK HOSPITAL	3.00	277,000.00	5-01-2020
	TOTALS:		80,539,684.48

4

GMAC Commercial Mortgage

College and University Loan Trust II

Delinquency Report (60+ Days)

As of December 31, 2005

GMACCM Loan Number	Borrower Name	Next Payment Due	P and I Due	Current UPB
30108301	DAKOTA WESLEY	4-01-2004	28,400.00	145,000.00
30133201	UNIVERSITY STU COOP	4-01-2004	210,525.00	1,325,000.00
30104801	CARROLL COLLE	9-01-2004	41,775.00	324,000.00
30107601	CONCORDIA COLLEGE	10-01-2004	18,730.00	66,000.00
30134002	UNIV CENTR AR	10-01-2004	80,805.00	78,000.00
30131702	TALLADEGA COL	06-01-2005	33,705.00	265,895.00
TOTAL:			413,940.00	2,203,895.00

GMAC Commercial Mortgage

College and University Loan Trust II

Liquidation Report

As of December 31, 2005

None to report for this period

GMAC Commercial Mortgage

College and University Loan Trust II

Collection Account Activity Report

For the Period of January 1, 2006 through January 31, 2006

Collections:
Principal Payments	191,218.20
Interest Payments	83,584.37
Total Principal and Interest Collections	274,802.57
Payments and Reversals Posted to Suspense
Total Collections	274,802.57
Less: Servicing Fees (not withheld from remittances)	(3,009.34	)
Net Collections	271,793.23

GMAC Commercial Mortgage

College & Trust Facility Loan Trust II

Service Fees Schedule

For the Period of January 1, 2006 through January 31, 2006

Date Due	GMACCM Number	Borrower Name	Principal Due	Interest Due	Total Due	Principal Balance	Service Fees
1012006	30100102	ALABAMA AGRIC	0.00	1,125.00	1,125.00	0.00	—
1012006	30105404	CENTRAL MISSO	0.00	3,675.00	3,675.00	245,000.00	91.88
1012006	30111202	FLORIDA ATLAN	0.00	750.00	750.00	50,000.00	18.75
1012006	30112002	GEORGE FOX CO	9,299.97	4,313.83	13,613.80	575,176.88	215.69
1012006	30112901	HAMPSHIRE COL	13,330.40	3,585.68	16,916.08	239,045.19	89.64
1012006	30114802	INTER AMERICA	66,863.19	25,934.01	92,797.20	1,728,934.13	648.35
1012006	30117204	LOUISIANA STA	0.00	570.00	570.00	0.00	—
1012006	30117205	LOUISIANA STA	0.00	225.00	225.00	15,000.00	5.63
1012006	30120501	MOREHOUSE COL	0.00	6,749.99	6,749.99	449,999.50	168.75
1012006	30121201	NEWARK BETH I	40,000.00	7,884.37	47,884.37	435,000.00	163.13
1012006	30123701	PHILADELPHIA	45,218.20	28,690.00	73,908.20	1,912,666.64	717.25
1012006	30129101	SIMPSON COLLE	0.00	3,330.00	3,330.00	222,000.00	83.25
1012006	30131003	FIRST UNIONAT	28,000.00	420.00	28,420.00	28,000.00	10.50
1012006	30132301	TEXAS A & I U	0.00	4,215.00	4,215.00	281,000.00	105.38
1012006	30134402	UNIVERSITY OF	0.00	21,750.00	21,750.00	1,450,000.00	543.75
1012006	30135701	UNIVERSITY OF	70,000.00	3,225.00	73,225.00	215,000.00	80.63
1012006	30135702	UNIV N CAROLI	8,000.00	195.00	8,195.00	13,000.00	4.88
1012006	30137702	VERMONT STATE	0.00	2,475.00	2,475.00	165,000.00	61.88
		TOTALS:	280,711.76	119,112.88	399,824.64	8,024,822.34	3,009.34

1

GMAC Commercial Mortgage

College and University Loan Trust II

Paid in full Schedule

For the Period of January 1, 2006 through January 31, 2006

Loan Number	Payoff Date	Total Amount Paid	Principal Amount	Interest Amount	Other Fees	Maturity Date
30131003	01-03-06	28,000.00	28,000.00	—	—	1/1/2006
TOTALS:		28,000.00	28,000.00	—	—

GMAC Commercial Mortgage

College and University Loan Trust II

Summary of Partial Prepayments

For the Period of January 1, 2006 through January 31, 2006

Loan Number	Payoff Date	Total Amount Paid	Principal Amount	Interest Amount
None to Report this period
	TOTAL:	—	—	—

GMAC Commercial Mortgage

College and University Loan Trust II

Trial Balance

As of January 31, 2006

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
30100102	ALABAMA AGRICULTURAL	3.00	75,000.00	7-01-2005
30100103	ALABAMA AGRICULTURAL	3.00	1,375,000.00	5-01-2018
30100201	ALBION COLLEGE	3.00	48,000.00	10-01-2009
30100301	ALBRIGHT COLLEGE	3.00	348,000.00	11-01-2015
30101102	ANDERSON COLLEGE	3.00	35,000.00	3-01-2006
30101601	AUBURN UNIVERSITY	3.00	1,555,000.00	12-01-2018
30101701	AZUSA PACIFIC UNIVERSITY	3.75	146,000.00	4-01-2015
30102603	BENEDICT COLLEGE	3.00	84,000.00	11-01-2006
30102604	BENEDICT COLLEGE	3.00	1,389,000.00	11-01-2020
30102802	BETHANY COLLEGE - DORM BOND 1965	3.38	166,000.00	11-01-2012
30102803	BETHANY COLLEGE - HALL BOND 1967	3.00	200,000.00	11-01-2017
30102804	BETHANY COLLEGE - NOTE OF 1973	3.00	305,000.00	11-01-2012
30103302	BRANDEIS UNIVERSITY	3.00	153,641.54	11-01-2011
30103901	CALIFORNIA STATE COLLEGES	3.00	250,000.00	11-01-2007
30104001	CALIFORNIA STATE UNIVERSITY,	3.00	50,000.00	11-01-2006
30104102	CALIFORNIA STATE UNIVERSITY,	3.00	745,000.00	11-01-2013
30104201	TRUST SERVICES DIVISION	3.00	1,958,000.00	11-01-2019
30104401	CAMERON UNIVERSITY	3.00	610,000.00	4-01-2007
30104604	CARNEGIE MELLON	3.00	120,000.00	5-01-2009
30104605	CARNEGIE MELLON	3.00	720,000.00	11-01-2017
30104702	CARROLL COLLEGE	3.75	230,000.00	6-01-2014
30104703	CARROLL COLLEGE	3.00	118,992.19	6-01-2018
30104801	CARROLL COLLEGE - DORM BOND 1965	3.75	324,000.00	3-01-2015
30105101	CATAWBA COLLEGE	3.00	101,000.00	12-01-2009
30105404	CENTRAL MISSOURI STATE	3.00	245,000.00	7-01-2007
30105701	CHAMPLAIN COLLEGE, INC.	3.00	95,399.38	12-01-2013
30106702	COLLEGE OF SAINT ROSE	3.00	722,553.53	5-01-2022
30106802	COLLEGE OF ST. THOMAS	3.00	222,000.00	11-01-2009
30106904	COLLEGE OF SANTA FE	3.00	435,000.00	10-01-2018
30107002	COLLEGE OF THE HOLY CROSS	3.63	610,000.00	10-01-2013
30107003	COLLEGE OF THE HOLY CROSS	3.00	110,000.00	10-01-2006
30107601	CONCORDIA COLLEGE	3.00	66,000.00	4-01-2009
30107701	CONCORDIA COLLEGE	3.00	555,000.00	5-01-2019
30108101	CUMBERLAND COLLEGE	3.00	228,000.00	8-01-2017
30108202	DAEMEN COLLEGE(ROSARY HILL COLLEGE)	3.00	435,000.00	4-01-2016
30108301	DAKOTA WESLEYAN UNIVERSITY	3.00	145,000.00	10-01-2015
30108801	DILLARD UNIVERSITY	3.00	69,000.00	4-01-2008
30109301	DOWLING COLLEGE	3.00	294,000.00	10-01-2010
30109502	DREXEL UNIVERSITY	3.50	800,000.00	5-01-2014
30109604	DRURY COLLEGE	3.00	185,000.00	4-01-2015
30109605	DRURY COLLEGE	3.00	238,000.00	10-01-2010
30109801	DYOURVILLE COLLEGE	3.00	801,535.00	4-01-2018
30110101	ELIZABETH CITY STATE UNIVERSITY	3.00	270,000.00	10-01-2017
30110301	EMBRY RIDDLE AERONAUTICAL UNIV.	3.00	125,000.00	9-01-2007
30110401	EMMANUEL COLLEGE	3.00	101,000.00	11-01-2013
30110802	FAIRLEIGH DICKINSON UNIV	3.00	1,190,000.00	11-01-2017
30111202	FLORIDA ATLANTIC UNIVERSITY-SER A	3.00	50,000.00	7-01-2006
30111301	FLORIDA INSTITUTE OF TECHNOLOGY	3.00	80,000.00	11-01-2009
30111603	FT HAYES STATE UNIVERSITY	3.00	40,000.00	10-01-2007
30111802	GANNON UNIV. - DORM BOND 1969, SER A	3.00	379,999.98	11-01-2011

1

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
30111803	GANNON UNIVERSITY	3.00	161,490.00	12-01-2022
30111901	GAVILAN COLLEGE	3.00	12,000.00	4-01-2006
30112002	GEORGE FOX COLLEGE	3.00	565,876.91	7-01-2018
30112202	GEORGETOWN COLLEGE	3.00	165,000.00	12-01-2008
30112203	GEORGETOWN COLLEGE	3.00	355,000.00	12-01-2009
30112301	GEORGETOWN UNIVERSITY	3.00	2,175,000.00	11-01-2020
30112302	GEORGETOWN UNIVERSITY	4.00	5,665,000.00	11-01-2020
30112901	HAMPSHIRE COLLEGE	3.00	225,714.79	7-01-2013
30112902	HAMPSHIRE COLLEGE	3.00	880,645.60	2-01-2014
30113401	HESSTON COLLEGE	3.00	23,000.00	4-01-2006
30113501	HIGH POINT COLLEGE	3.00	154,000.00	12-01-2010
30113601	HINDS JUNIOR COLLEGE	3.00	1,169,000.00	4-01-2013
30113702	HIWASSEE COLLEGE	3.00	147,772.18	9-15-2018
30113801	HOFSTRA UNIVERSITY	3.00	1,164,323.49	11-01-2012
30114001	HOOD COLLEGE	3.63	185,000.00	11-01-2014
30114201	HUSTON-TILLOTSON COLLEGE - DORM 1964	3.50	255,000.00	4-01-2014
30114302	HUNTINGDON COLLEGE - DORM 1968	3.00	90,000.00	10-01-2008
30114801	INTER AMERICAN UNIVERSITY OF PUERTO RICO	3.00	24,000.00	9-01-2007
30114802	INTER-AMERICAN UNIV. OF PUERTO RICO	3.00	1,662,070.94	1-01-2017
30115001	JAMES MADISON UNIVERSITY	3.00	715,000.00	6-01-2009
30115803	KNOX COLLEGE - DORM BONDS 1966	3.00	50,000.00	4-01-2006
30115901	LA GRANGE COLLEGE	3.00	135,000.00	3-01-2009
30116201	LASSEN JUNIOR COLLEGE	3.00	359,000.00	4-01-2020
30116801	LINFIELD COLLEGE - HALL BONDS 1968	3.00	59,000.00	10-01-2017
30116903	LONG ISLAND UNIVERSITY	3.00	91,185.31	11-01-2009
30116904	LONG ISLAND UNIVERSITY	3.00	318,746.80	11-01-2009
30117002	LONG ISLAND UNIVERSITY	3.63	360,000.00	6-01-2014
30117204	LA. STATE UNIV. 1965 BOND SER B	3.00	38,000.00	7-01-2005
30117205	LA. STATE UNIV. 1966 BOND SER C	3.00	15,000.00	7-01-2006
30117402	LYCOMING COLLEGE	3.63	160,000.00	5-01-2014
30117403	LYCOMING COLLEGE	3.75	224,999.99	5-01-2015
30117501	LYNCHBURG COLLEGE	3.75	338,000.00	5-01-2015
30117502	LYNCHBURG COLLEGE	3.00	480,000.00	5-01-2018
30117602	MACALESTER COLLEGE	3.00	339,312.14	5-01-2020
30117801	MARIAN COLLEGE OF FOND DU LAC	3.00	375,000.00	10-01-2016
30118302	MARY BALDWIN COLLEGE	3.38	243,000.00	5-01-2012
30118401	MARYMOUNT UNIVERSITY	3.00	440,000.00	5-01-2016
30118701	MCLENNAN COMMUNITY COLLEGE	3.00	105,000.00	4-01-2006
30119001	SLOAN-MEMORIAL KETTERING CANCER CENTER	3.38	584,000.00	4-01-2012
30119202	MERCER UNIV. ACCOUNTING OFFICE	3.00	302,466.43	5-01-2014
30119801	MILLSAPS COLLEGE	3.00	456,000.00	11-01-2021
30119903	MISSISSIPPI STATE UNIVERSITY	3.00	1,165,000.00	12-01-2020
30120402	MORAVIAN COLLEGE	3.38	130,000.00	11-01-2012
30120501	MOREHOUSE COLLEGE	3.00	449,999.50	7-01-2010
30120601	MORGAN STATE UNIVERSTIY	3.00	1,453,538.35	11-01-2014
30120701	MORRIS BROWN COLLEGE	3.75	55,000.00	5-01-2007
30120705	MORRIS BROWN COLLEGE	3.00	910,000.00	5-01-2018
30120706	MORRIS BROWN COLLEGE	3.00	200,000.00	5-01-2010
30120801	MORRIS COLLEGE	3.00	252,000.00	11-01-2009
30121101	NEW ENGLAND COLLEGE	3.00	111,000.00	4-01-2016

2

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
30121201	NEWARK BETH ISREAL MEDICAL CENTER	3.63	395,000.00	1-01-2014
30121501	NORFOLK STATE UNIVERSITY	3.00	2,202,708.12	12-01-2021
30122302	NORTHEASTERN UNIVERSITY	3.00	2,221,132.74	5-01-2018
30122802	OCCIDENTAL COLLEGE	3.00	208,000.00	10-01-2019
30123401	PAINE COLLEGE	3.00	645,999.99	10-01-2016
30123701	UNIVERSITY OF THE ARTS	3.00	1,867,448.44	1-01-2022
30124901	RANDOLPH MACON COLLEGE	3.00	135,000.00	5-01-2010
30125102	REGIS COLLEGE	3.00	300,000.00	11-01-2012
30125504	RIDER COLLEGE	3.63	1,115,000.00	11-01-2013
30125506	RIDER COLLEGE	3.00	322,000.00	5-01-2017
30125601	RIO GRANDE COLLEGE	3.00	35,583.51	3-30-2009
30126102	RUTGERS, THE STATE UNIVERSITY	3.75	485,000.00	5-01-2016
30127402	ST MARY’S COLLEGE	3.00	315,000.00	6-01-2020
30127602	SAINT MICHAELS COLLEGE	3.00	1,158,543.67	5-01-2013
30127703	SAINT NORBERT COLLEGE	3.00	95,000.00	4-01-2007
30127801	SAINT PAULS COLLEGE	3.00	317,559.01	11-01-2014
30128001	SAINT VINCENT COLLEGE	3.50	400,000.00	5-01-2013
30128301	CALIFORNIA STATE COLLEGES	3.00	125,000.00	11-01-2006
30128401	UNIVERSITY OF ILLINOIS	3.00	870,000.00	11-01-2018
30128602	SEATTLE UNIVERSITY - 1967 PHYS ED	3.00	174,000.00	11-01-2008
30128802	SETON HILL COLLEGE	3.63	218,000.00	11-01-2014
30129101	SIMPSON COLLEGE - BOND 1966	3.00	222,000.00	7-01-2016
30129402	SOUTHEAST MISSOURI STATE UNIV(ESCROW)	3.00	236,000.00	4-01-2007
30129802	SOUTHERN METHODIST UNIVERSITY	3.00	138,000.00	10-01-2007
30130301	SOUTHWEST TEXAS STATE UNIVERSITY	3.00	1,570,000.00	10-01-2015
30130502	SPALDING UNIVERSITY	3.00	66,000.00	9-01-2007
30130703	SPRINGFIELD COLLEGE	3.50	283,000.00	5-01-2013
30130903	STEPHEN F AUSTIN STATE UNIVERSITY	3.38	1,107,000.00	10-01-2012
30131702	TALLADEGA COLLEGE	3.00	265,895.00	12-01-2012
30132002	TAYLOR UNIVERSITY	3.00	158,000.00	10-01-2012
30132003	TAYLOR UNIVERSITY	3.00	501,000.00	10-01-2013
30132301	TEXAS A & I UNIV-BLDG SYS SER 1969A	3.00	281,000.00	7-01-2009
30132402	TEXAS SOUTHERN UNIVERSITY	3.50	315,000.00	4-01-2013
30132601	TRANSYLVANIA UNIVERSITY	3.00	222,000.00	11-01-2010
30132904	TUFTS UNIVERSITY	3.00	1,813,000.00	10-01-2021
30133201	UNIV STUDENT COOP HOUSING	3.00	1,325,000.00	4-01-2019
30133301	UNIVERSITY OF ALABAMA	3.00	645,000.00	11-01-2008
30134002	ARKANSAS STATE TEACHERS COLLEGE	3.00	78,000.00	4-01-2005
30134101	UNIVERSITY OF CENTRAL FLORIDA	3.00	130,000.00	10-01-2007
30134304	UNIVERSITY OF DELAWARE	3.00	170,000.00	11-01-2006
30134305	UNIVERSITY OF DELAWARE	3.00	489,000.00	12-01-2018
30134402	UNIVERSITY OF FLORIDA / REV. CERTS.,84	3.00	1,450,000.00	7-01-2014
30135701	UNIVERSITY OF NORTH CAROLINA	3.00	145,000.00	1-01-2008
30135702	UNIVERSITY OF NORTH CAROLINA	3.00	5,000.00	1-01-2007
30136002	UNIVERSITY OF PUERTO RICO	3.00	929,000.00	6-01-2011
30136801	UNIVERSITY OF ST THOMAS	3.00	491,000.00	10-01-2019
30136901	UNIV OF STEUBENVILLE	3.13	164,000.00	4-01-2010
30137501	UTICA COLLEGE OF SYRACUSE	3.00	212,000.00	11-01-2009
30137701	VERMONT STATE COLLEGE	3.00	160,000.00	6-01-2008
30137702	VERMONT STATE COLLEGE	3.00	165,000.00	7-01-2014

3

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
30137802	VILLANOVA UNIVERSITY	3.00	885,000.00	4-01-2019
30137901	VINCENNES UNIVERSITY	3.00	3,060,000.00	6-01-2023
30138001	VIRGINIA COMMONWEALTH	3.00	1,366,999.99	6-01-2011
30138101	VIRGINIA WESELAN COLLEGE	3.00	126,000.00	11-01-2009
30138102	VIRGINA ST WESELEYAN COLLEGE	3.00	94,000.00	11-01-2010
30138702	WESLEY COLLEGE	3.38	134,000.00	5-01-2013
30139001	WEST VALLEY COLLEGE	3.00	200,000.00	4-01-2009
30140003	WHEATON COLLEGE	3.50	525,000.00	4-01-2013
30140102	WHEELING COLLEGE	3.00	20,000.00	11-01-2007
30140201	WHEELOCH COLLEGE	3.00	12,411.56	5-01-2011
30140502	WITTENBERG UNIVERSITY	3.00	525,000.00	5-01-2015
30140503	WITTENBERG UNIVERSITY	3.00	170,000.00	11-01-2017
30140601	THE COLLEGE OF WOOSTER	3.00	16,920.20	3-30-2009
30141001	YORK HOSPITAL	3.00	277,000.00	5-01-2020
	TOTALS:		80,348,466.28

4

GMAC Commercial Mortgage

College and University Loan Trust II

Delinquency Report (60+ Days)

As of Januray 31, 2006

GMACCM Loan Number	Borrower Name	Next Payment Due	P and I Due	Current UPB
30108301	DAKOTA WESLEY	4-01-2004	28,400.00	145,000.00
30133201	UNIVERSITY STU COOP	4-01-2004	210,525.00	1,325,000.00
30104801	CARROLL COLLE	9-01-2004	41,775.00	324,000.00
30107601	CONCORDIA COLLEGE	10-01-2004	18,730.00	66,000.00
30134002	UNIV CENTR AR	10-01-2004	80,805.00	78,000.00
30131702	TALLADEGA COL	06-01-2005	33,705.00	265,895.00
30100102	ALAMBAMA AGRICULTURE	01-01-2006	1,125.00	75,000.00
30117204	LOUISIANA STATE	01-01-2006	570.00	38,000.00
TOTAL:			415,635.00	2,316,895.00

GMAC Commercial Mortgage

College and University Loan Trust II

Liquidation Report

As of january 31, 2006

None to report for this period

GMAC Commercial Mortgage

College and University Loan Trust II

Collection Account Activity Report

For the Period of March 1, 2006 through March 31, 2006

Collections:
Principal Payments	536,691.42
Interest Payments	56,287.83
Total Principal and Interest Collections	592,979.25
Payments and Reversals Posted to Suspense
Total Collections	592,979.25
Less:  Servicing Fees (not withheld from remittances)	(331.99	)
Net Collections	592,647.26

GMAC Commercial Mortgage

College & Trust Facility Loan Trust II

Service Fees Schedule

For the Period of March 1, 2006 through March 31, 2006

Date Due	GMACCM Number	Borrower Name	Principal Due	Interest Due	Total Due	Principal Balance	Service Fees
3012006	30101102	ANDERSON UNIV	35000	525	35525	35000	13.13
3012006	30104801	CARROLL COLLE	26000	5625	31625	300000	112.50
3012006	30110301	EMBRY-RIDDLE	0	1875	1875	125000	46.88
3152006	30113702	HIWASSEE COLL	4691.42	2216.58	6908	147772.18	55.41
3012006	30114801	INTER AMERICA	0	360	360	24000	9.00
3012006	30115901	LA GRANGE COL	30000	2025	32025	135000	50.63
3302006	30125601	RIO GRANDE CO	5083.33	533.75	5617.08	35583.51	13.34
3012006	30130502	SPALDING UNIV	0	990	990	66000	24.75
3302006	30140601	WOOSTER BUSIN	2416.6	253.8	2670.4	16920.2	6.35
		TOTALS:	2,416.60	253.80	2,670.40	16,920.20	331.99
							—
							—
							331.99	Service Fees withheld for March 2006

1

GMAC Commercial Mortgage

College and University Loan Trust II

Paid in full Schedule

For the Period of March 1, 2006 through March 31, 2006

Loan Number	Payoff Date	Total Amount Paid	Principal Amount	Interest Amount	Other Fees	Maturity Date
30101102	60301	35525	35000	525	0	3012006
30111901	60330	12180	12000	180	0	4012006
30120701	60331	56031.25	55000	1031.25	0	5012007
30120706	60331	203000	200000	3000	0	5012010
TOTALS:		306,736.25	302,000.00	4,736.25	—

GMAC Commercial Mortgage

College and University Loan Trust II

Summary of Partial Prepayments

For the Period of January 1, 2006 through January 31, 2006

Loan Number	Payoff Date	Total Amount Paid	Principal Amount	Interest Amount
None to Report this period
	TOTAL:	—	—	—

GMAC Commercial Mortgage

College and University Loan Trust II

Trial Balance

As of March 31, 2006

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
30100102	ALABAMA AGRICULTURAL	3.00	75,000.00	7-01-2005
30100103	ALABAMA AGRICULTURAL	3.00	1,375,000.00	5-01-2018
30100201	ALBION COLLEGE	3.00	48,000.00	10-01-2009
30100301	ALBRIGHT COLLEGE	3.00	348,000.00	11-01-2015
30101601	AUBURN UNIVERSITY	3.00	1,555,000.00	12-01-2018
30101701	AZUSA PACIFIC UNIVERSITY	3.75	146,000.00	4-01-2015
30102603	BENEDICT COLLEGE	3.00	84,000.00	11-01-2006
30102604	BENEDICT COLLEGE	3.00	1,389,000.00	11-01-2020
30102802	BETHANY COLLEGE - DORM BOND 1965	3.38	166,000.00	11-01-2012
30102803	BETHANY COLLEGE - HALL BOND 1967	3.00	200,000.00	11-01-2017
30102804	BETHANY COLLEGE - NOTE OF 1973	3.00	305,000.00	11-01-2012
30103302	BRANDEIS UNIVERSITY	3.00	153,641.54	11-01-2011
30103901	CALIFORNIA STATE COLLEGES	3.00	250,000.00	11-01-2007
30104001	CALIFORNIA STATE UNIVERSITY,	3.00	50,000.00	11-01-2006
30104102	CALIFORNIA STATE UNIVERSITY,	3.00	745,000.00	11-01-2013
30104201	TRUST SERVICES DIVISION	3.00	1,958,000.00	11-01-2019
30104401	CAMERON UNIVERSITY	3.00	610,000.00	4-01-2007
30104604	CARNEGIE MELLON	3.00	120,000.00	5-01-2009
30104605	CARNEGIE MELLON	3.00	720,000.00	11-01-2017
30104702	CARROLL COLLEGE	3.75	230,000.00	6-01-2014
30104703	CARROLL COLLEGE	3.00	118,992.19	6-01-2018
30104801	CARROLL COLLEGE - DORM BOND 1965	3.75	324,000.00	3-01-2015
30105101	CATAWBA COLLEGE	3.00	101,000.00	12-01-2009
30105404	CENTRAL MISSOURI STATE	3.00	245,000.00	7-01-2007
30105701	CHAMPLAIN COLLEGE, INC.	3.00	95,399.38	12-01-2013
30106702	COLLEGE OF SAINT ROSE	3.00	722,553.53	5-01-2022
30106802	COLLEGE OF ST. THOMAS	3.00	222,000.00	11-01-2009
30106904	COLLEGE OF SANTA FE	3.00	435,000.00	10-01-2018
30107002	COLLEGE OF THE HOLY CROSS	3.63	610,000.00	10-01-2013
30107003	COLLEGE OF THE HOLY CROSS	3.00	110,000.00	10-01-2006
30107601	CONCORDIA COLLEGE	3.00	66,000.00	4-01-2009
30107701	CONCORDIA COLLEGE	3.00	555,000.00	5-01-2019
30108101	CUMBERLAND COLLEGE	3.00	228,000.00	8-01-2017
30108202	DAEMEN COLLEGE(ROSARY HILL COLLEGE)	3.00	435,000.00	4-01-2016
30108301	DAKOTA WESLEYAN UNIVERSITY	3.00	145,000.00	10-01-2015
30108801	DILLARD UNIVERSITY	3.00	69,000.00	4-01-2008
30109301	DOWLING COLLEGE	3.00	294,000.00	10-01-2010
30109502	DREXEL UNIVERSITY	3.50	800,000.00	5-01-2014
30109604	DRURY COLLEGE	3.00	185,000.00	4-01-2015
30109605	DRURY COLLEGE	3.00	238,000.00	10-01-2010
30109801	DYOURVILLE COLLEGE	3.00	801,535.00	4-01-2018
30110101	ELIZABETH CITY STATE UNIVERSITY	3.00	270,000.00	10-01-2017
30110301	EMBRY RIDDLE AERONAUTICAL UNIV.	3.00	125,000.00	9-01-2007
30110401	EMMANUEL COLLEGE	3.00	101,000.00	11-01-2013
30110802	FAIRLEIGH DICKINSON UNIV	3.00	1,190,000.00	11-01-2017
30111202	FLORIDA ATLANTIC UNIVERSITY-SER A	3.00	50,000.00	7-01-2006
30111301	FLORIDA INSTITUTE OF TECHNOLOGY	3.00	80,000.00	11-01-2009
30111603	FT HAYES STATE UNIVERSITY	3.00	40,000.00	10-01-2007
30111802	GANNON UNIV. - DORM BOND 1969, SER A	3.00	379,999.98	11-01-2011
30111803	GANNON UNIVERSITY	3.00	161,490.00	12-01-2022

1

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
30112002	GEORGE FOX COLLEGE	3.00	565,876.91	7-01-2018
30112202	GEORGETOWN COLLEGE	3.00	165,000.00	12-01-2008
30112203	GEORGETOWN COLLEGE	3.00	355,000.00	12-01-2009
30112301	GEORGETOWN UNIVERSITY	3.00	2,175,000.00	11-01-2020
30112302	GEORGETOWN UNIVERSITY	4.00	5,665,000.00	11-01-2020
30112901	HAMPSHIRE COLLEGE	3.00	225,714.79	7-01-2013
30112902	HAMPSHIRE COLLEGE	3.00	834,781.86	2-01-2014
30113401	HESSTON COLLEGE	3.00	23,000.00	4-01-2006
30113501	HIGH POINT COLLEGE	3.00	154,000.00	12-01-2010
30113601	HINDS JUNIOR COLLEGE	3.00	1,019,000.00	4-01-2013
30113702	HIWASSEE COLLEGE	3.00	143,080.76	9-15-2018
30113801	HOFSTRA UNIVERSITY	3.00	1,164,323.49	11-01-2012
30114001	HOOD COLLEGE	3.63	185,000.00	11-01-2014
30114201	HUSTON-TILLOTSON COLLEGE - DORM 1964	3.50	255,000.00	4-01-2014
30114302	HUNTINGDON COLLEGE - DORM 1968	3.00	90,000.00	10-01-2008
30114801	INTER AMERICAN UNIVERSITY OF PUERTO RICO	3.00	24,000.00	9-01-2007
30114802	INTER-AMERICAN UNIV. OF PUERTO RICO	3.00	1,662,070.94	1-01-2017
30115001	JAMES MADISON UNIVERSITY	3.00	715,000.00	6-01-2009
30115803	KNOX COLLEGE - DORM BONDS 1966	3.00	50,000.00	4-01-2006
30115901	LA GRANGE COLLEGE	3.00	105,000.00	3-01-2009
30116201	LASSEN JUNIOR COLLEGE	3.00	359,000.00	4-01-2020
30116801	LINFIELD COLLEGE - HALL BONDS 1968	3.00	59,000.00	10-01-2017
30116903	LONG ISLAND UNIVERSITY	3.00	91,185.31	11-01-2009
30116904	LONG ISLAND UNIVERSITY	3.00	318,746.80	11-01-2009
30117002	LONG ISLAND UNIVERSITY	3.63	360,000.00	6-01-2014
30117204	LA. STATE UNIV. 1965 BOND SER B	3.00	38,000.00	7-01-2005
30117205	LA. STATE UNIV. 1966 BOND SER C	3.00	15,000.00	7-01-2006
30117402	LYCOMING COLLEGE	3.63	160,000.00	5-01-2014
30117403	LYCOMING COLLEGE	3.75	224,999.99	5-01-2015
30117501	LYNCHBURG COLLEGE	3.75	338,000.00	5-01-2015
30117502	LYNCHBURG COLLEGE	3.00	480,000.00	5-01-2018
30117602	MACALESTER COLLEGE	3.00	339,312.14	5-01-2020
30117801	MARIAN COLLEGE OF FOND DU LAC	3.00	375,000.00	10-01-2016
30118302	MARY BALDWIN COLLEGE	3.38	243,000.00	5-01-2012
30118401	MARYMOUNT UNIVERSITY	3.00	440,000.00	5-01-2016
30118701	MCLENNAN COMMUNITY COLLEGE	3.00	105,000.00	4-01-2006
30119001	SLOAN-MEMORIAL KETTERING CANCER CENTER	3.38	584,000.00	4-01-2012
30119202	MERCER UNIV. ACCOUNTING OFFICE	3.00	302,466.43	5-01-2014
30119801	MILLSAPS COLLEGE	3.00	456,000.00	11-01-2021
30119903	MISSISSIPPI STATE UNIVERSITY	3.00	1,165,000.00	12-01-2020
30120402	MORAVIAN COLLEGE	3.38	130,000.00	11-01-2012
30120501	MOREHOUSE COLLEGE	3.00	449,999.50	7-01-2010
30120601	MORGAN STATE UNIVERSTIY	3.00	1,453,538.35	11-01-2014
30120705	MORRIS BROWN COLLEGE	3.00	910,000.00	5-01-2018
30120801	MORRIS COLLEGE	3.00	252,000.00	11-01-2009
30121101	NEW ENGLAND COLLEGE	3.00	111,000.00	4-01-2016
30121201	NEWARK BETH ISREAL MEDICAL CENTER	3.63	395,000.00	1-01-2014
30121501	NORFOLK STATE UNIVERSITY	3.00	2,202,708.12	12-01-2021
30122302	NORTHEASTERN UNIVERSITY	3.00	2,221,132.74	5-01-2018
30122802	OCCIDENTAL COLLEGE	3.00	208,000.00	10-01-2019

2

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
30123401	PAINE COLLEGE	3.00	645,999.99	10-01-2016
30123701	UNIVERSITY OF THE ARTS	3.00	1,867,448.44	1-01-2022
30124901	RANDOLPH MACON COLLEGE	3.00	135,000.00	5-01-2010
30125102	REGIS COLLEGE	3.00	300,000.00	11-01-2012
30125504	RIDER COLLEGE	3.63	1,115,000.00	11-01-2013
30125506	RIDER COLLEGE	3.00	322,000.00	5-01-2017
30125601	RIO GRANDE COLLEGE	3.00	35,583.51	3-30-2009
30126102	RUTGERS, THE STATE UNIVERSITY	3.75	485,000.00	5-01-2016
30127402	ST MARY’S COLLEGE	3.00	315,000.00	6-01-2020
30127602	SAINT MICHAELS COLLEGE	3.00	1,158,543.67	5-01-2013
30127703	SAINT NORBERT COLLEGE	3.00	95,000.00	4-01-2007
30127801	SAINT PAULS COLLEGE	3.00	317,559.01	11-01-2014
30128001	SAINT VINCENT COLLEGE	3.50	400,000.00	5-01-2013
30128301	CALIFORNIA STATE COLLEGES	3.00	125,000.00	11-01-2006
30128401	UNIVERSITY OF ILLINOIS	3.00	870,000.00	11-01-2018
30128602	SEATTLE UNIVERSITY - 1967 PHYS ED	3.00	174,000.00	11-01-2008
30128802	SETON HILL COLLEGE	3.63	218,000.00	11-01-2014
30129101	SIMPSON COLLEGE - BOND 1966	3.00	222,000.00	7-01-2016
30129402	SOUTHEAST MISSOURI STATE UNIV(ESCROW)	3.00	236,000.00	4-01-2007
30129802	SOUTHERN METHODIST UNIVERSITY	3.00	138,000.00	10-01-2007
30130301	SOUTHWEST TEXAS STATE UNIVERSITY	3.00	1,570,000.00	10-01-2015
30130502	SPALDING UNIVERSITY	3.00	66,000.00	9-01-2007
30130703	SPRINGFIELD COLLEGE	3.50	283,000.00	5-01-2013
30130903	STEPHEN F AUSTIN STATE UNIVERSITY	3.38	1,107,000.00	10-01-2012
30131702	TALLADEGA COLLEGE	3.00	265,895.00	12-01-2012
30132002	TAYLOR UNIVERSITY	3.00	158,000.00	10-01-2012
30132003	TAYLOR UNIVERSITY	3.00	501,000.00	10-01-2013
30132301	TEXAS A & I UNIV-BLDG SYS SER 1969A	3.00	281,000.00	7-01-2009
30132402	TEXAS SOUTHERN UNIVERSITY	3.50	315,000.00	4-01-2013
30132601	TRANSYLVANIA UNIVERSITY	3.00	222,000.00	11-01-2010
30132904	TUFTS UNIVERSITY	3.00	1,813,000.00	10-01-2021
30133201	UNIV STUDENT COOP HOUSING	3.00	1,325,000.00	4-01-2019
30133301	UNIVERSITY OF ALABAMA	3.00	645,000.00	11-01-2008
30134002	ARKANSAS STATE TEACHERS COLLEGE	3.00	78,000.00	4-01-2005
30134101	UNIVERSITY OF CENTRAL FLORIDA	3.00	130,000.00	10-01-2007
30134304	UNIVERSITY OF DELAWARE	3.00	170,000.00	11-01-2006
30134305	UNIVERSITY OF DELAWARE	3.00	489,000.00	12-01-2018
30134402	UNIVERSITY OF FLORIDA / REV. CERTS.,84	3.00	1,450,000.00	7-01-2014
30135701	UNIVERSITY OF NORTH CAROLINA	3.00	145,000.00	1-01-2008
30135702	UNIVERSITY OF NORTH CAROLINA	3.00	5,000.00	1-01-2007
30136002	UNIVERSITY OF PUERTO RICO	3.00	929,000.00	6-01-2011
30136801	UNIVERSITY OF ST THOMAS	3.00	491,000.00	10-01-2019
30136901	UNIV OF STEUBENVILLE	3.13	164,000.00	4-01-2010
30137501	UTICA COLLEGE OF SYRACUSE	3.00	212,000.00	11-01-2009
30137701	VERMONT STATE COLLEGE	3.00	160,000.00	6-01-2008
30137702	VERMONT STATE COLLEGE	3.00	165,000.00	7-01-2014
30137802	VILLANOVA UNIVERSITY	3.00	885,000.00	4-01-2019
30137901	VINCENNES UNIVERSITY	3.00	3,060,000.00	6-01-2023
30138001	VIRGINIA COMMONWEALTH	3.00	1,366,999.99	6-01-2011
30138101	VIRGINIA WESELAN COLLEGE	3.00	126,000.00	11-01-2009

3

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
30138102	VIRGINA ST WESELEYAN COLLEGE	3.00	94,000.00	11-01-2010
30138702	WESLEY COLLEGE	3.38	134,000.00	5-01-2013
30139001	WEST VALLEY COLLEGE	3.00	150,000.00	4-01-2009
30140003	WHEATON COLLEGE	3.50	525,000.00	4-01-2013
30140102	WHEELING COLLEGE	3.00	20,000.00	11-01-2007
30140201	WHEELOCH COLLEGE	3.00	12,411.56	5-01-2011
30140502	WITTENBERG UNIVERSITY	3.00	525,000.00	5-01-2015
30140503	WITTENBERG UNIVERSITY	3.00	170,000.00	11-01-2017
30140601	THE COLLEGE OF WOOSTER	3.00	16,920.20	3-30-2009
30141001	YORK HOSPITAL	3.00	277,000.00	5-01-2020
	TOTALS:		79,765,911.12

4

GMAC Commercial Mortgage

College and University Loan Trust II

Delinquency Report (60+ Days)

As of March 31, 2006

GMACCM Loan Number	Borrower Name	Next Payment Due	P and I Due	Current UPB
30108301	DAKOTA WESLEY	4-01-2004	28,400.00	145,000.00
30133201	UNIVERSITY STU COOP	4-01-2004	210,525.00	1,325,000.00
30104801	CARROLL COLLE	9-01-2004	41,775.00	324,000.00
30107601	CONCORDIA COLLEGE	10-01-2004	18,730.00	66,000.00
30134002	UNIV CENTR AR	10-01-2004	80,805.00	78,000.00
30131702	TALLADEGA COL	06-01-2005	33,705.00	265,895.00
30100102	ALAMBAMA AGRICULTURE	01-01-2006	1,125.00	75,000.00
30117204	LOUISIANA STATE	01-01-2006	570.00	38,000.00
30125601	RIO GRANDE CO	09-30-2006	5,617.08	35,583.51
30140601	THE COLLEGE OF WOOSTER	03-20-2006	2,670.40	16,920.20
TOTAL:			423,922.48	2,369,398.71

GMAC Commercial Mortgage

College and University Loan Trust II

Liquidation Report

As of March 31, 2006

None to report for this period

GMAC Commercial Mortgage

College and University Loan Trust II

Collection Account Activity Report

For the Period of April 1, 2006 through April 30, 2006

Collections:
Principal Payments	1,417,997.23
Interest Payments	256,100.98
Total Principal and Interest Collections	1,674,098.21
Payments and Reversals Posted to Suspense
Total Collections	1,674,098.21
Less: Servicing Fees (not withheld from remittances)	(4,391.65	)
Net Collections	1,669,706.56

GMAC Commercial Mortgage

College & Trust Facility Loan Trust II

Service Fees Schedule

For the Period of April 1, 2006 through April 30, 2006

Date Due	GMACCM Number	Borrower Name	Principal Due	Interest Due	Total Due	Principal Balance	Service Fees
4012006	30100201	ALBION COLLEG	0	720	720	48000	18.00		delinquent
4012006	30101701	AZUSA PACIFIC	12000	2737.5	14737.5	146000	54.75
4012006	30104401	CAMERON UNIVE	305000	9150	314150	610000	228.75
4012006	30105801	CHAPMAN COLLE	20000	5250	25250	350000	131.25
4012006	30106902	COLLEGE OF SA	0	435	435	0	—
4012006	30106904	COLLEGE OF SA	0	6525	6525	435000	163.13
4012006	30107002	COLLEGE OF TH	0	11056.25	11056.25	610000	228.75
4012006	30107003	COLLEGE OF TH	0	1650	1650	110000	41.25
4012006	30107601	CONCORDIA COL	16000	750	16750	50000	18.75		delinquent
4012006	30108202	DAEMEN COLLEG	35000	6525	41525	435000	163.13
4012006	30108301	DAKOTA WESLEY	0	1875	1875	125000	46.88		delinquent
4012006	30108801	DILLARD UNIVE	31000	1035	32035	69000	25.88
4012006	30109301	DOWLING COLLE	27000	4410	31410	294000	110.25
4012006	30109604	DRURY COLLEGE	9000	2775	11775	185000	69.38
4012006	30109605	DRURY COLLEGE	22000	3570	25570	238000	89.25
4012006	30109801	DYOUVILLE COL	52000	12023.02	64023.02	801535	300.58
4012006	30110101	ELIZABETH CIT	0	4050	4050	270000	101.25
4012006	30111603	FT HAYS STATE	0	600	600	40000	15.00
4012006	30111901	GAVILAN COLLE	12000	180	12180	12000	4.50
4012006	30112002	GEORGE FOX CO	9369.72	4244.08	13613.8	565876.91	212.20
4012006	30113401	HESSTON COLLE	23000	345	23345	23000	8.63
4012006	30113601	HINDS JUNIOR	150000	17535	167535	1169000	438.38
4012006	30114201	HOUSTON TILLO	25000	4462.5	29462.5	255000	95.63
4012006	30114302	HUNTINGDON CO	0	1350	1350	90000	33.75
4012006	30115803	KNOX COLLEGE	50000	750	50750	50000	18.75
4012006	30116102	LANGSTON UNIV	135000	4125	139125	410000	153.75
4012006	30116201	LASSEN JUNIOR	20000	5385	25385	359000	134.63
4012006	30116801	LINFIELD COLL	0	885	885	59000	22.13
4012006	30117801	MARIAN COLLEG	0	5625	5625	375000	140.63
4012006	30118701	MCLENNAN COMM	105000	1575	106575	105000	39.38
4012006	30119001	MEMORIAL SLOA	80000	9855	89855	584000	219.00
4012006	30121101	NEW ENGLAND C	9000	1665	10665	111000	41.63
4012006	30122802	OCCIDENTAL CO	0	3120	3120	208000	78.00
4012006	30123401	PAINE COLLEGE	0	9690	9690	645999.99	242.25
4012006	30125401	RHODE ISLAND	0	525	525	0	—
4012006	30127703	ST NORBERT CO	51000	1425	52425	95000	35.63
4012006	30129402	SOUTHEAST MIS	165000	3540	168540	236000	88.50
4012006	30129802	SOUTHERN METH	0	2070	2070	138000	51.75
4012006	30130301	SOUTHWEST TEX	0	23550	23550	1570000	588.75
4012006	30130903	STEPHEN F AUS	0	18680.63	18680.63	1107000	415.13
4012006	30132002	TAYLOR UNIVER	0	2370	2370	158000	59.25
4012006	30132003	TAYLOR UNIVER	0	7515	7515	501000	187.88
4012006	30132402	TEXAS SOUTHER	35000	5512.5	40512.5	315000	118.13
4012006	30132904	TUFTS UNIVERS	0	27195	27195	1813000	679.88
4012006	30133201	UNIV STU COOP	70000	17850	87850	1190000	446.25		delinquent
4012006	30134002	UNIV CENTR AR	0	1170	1170	0	—		delinquent
4012006	30134101	UNIVERSITY OF	0	1950	1950	130000	48.75
4012006	30134901	UNIVERSITY OF	0	7031.25	7031.25	0	—
4012006	30136801	UNIVERSITY OF	0	7365	7365	491000	184.13
4012006	30136901	UNIVERSITY OF	31000	2562.5	33562.5	164000	61.50
4012006	30137802	VILLANOVA UNI	50000	13275	63275	885000	331.88
4012006	30138302	WARTBURG COLL	13000	1631.25	14631.25	87000	32.63
4012006	30139001	WEST VALLEY C	50000	3000	53000	200000	75.00
4012006	30139504	WESTERN WASHI	0	1312.5	1312.5	0	—
4012006	30140003	WHEATON COLLE	60000	9187.5	69187.5	525000	196.88
		TOTALS:	1,672,369.72	304,646.48	1,977,016.20	19,443,411.90	5,601.41
							(18.00	)	30100201
							(18.75	)	30107601
							(46.88	)	30108301
							(446.25	)	30133201
							(679.88	)	30132904
							4,391.65		Service Fees withheld for April 2006

1

GMAC Commercial Mortgage

College and University Loan Trust II

Paid in full Schedule

For the Period of April 1, 2006 through April 30, 2006

Loan Number	Payoff Date	Total Amount Paid	Principal Amount	Interest Amount	Other Fees	Maturity Date
30113401	60410	23345	23000	345	0	4012006
30115803	60407	50750	50000	750	0	4012006
30116903	60427	92553.09	91185.31	1367.78	0	11012009
30118701	60404	106575	105000	1575	0	4012006
TOTALS:		273,223.09	269,185.31	4,037.78	—

GMAC Commercial Mortgage

College and University Loan Trust II

Summary of Partial Prepayments

For the Period of April 1, 2006 through April 30, 2006

Loan Number	Payoff Date	Total Amount Paid	Principal Amount	Interest Amount
None to Report this period
	TOTAL:	—	—	—

GMAC Commercial Mortgage

College and University Loan Trust II

Trial Balance

As of April 30, 2006

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
30100102	ALABAMA AGRICULTURAL	3.00	75,000.00	7-01-2005
30100103	ALABAMA AGRICULTURAL	3.00	1,375,000.00	5-01-2018
30100201	ALBION COLLEGE	3.00	48,000.00	10-01-2009
30100301	ALBRIGHT COLLEGE	3.00	348,000.00	11-01-2015
30101102	ANDERSON COLLEGE	3.00	35,000.00	3-01-2006
30101601	AUBURN UNIVERSITY	3.00	1,555,000.00	12-01-2018
30101701	AZUSA PACIFIC UNIVERSITY	3.75	146,000.00	4-01-2015
30102603	BENEDICT COLLEGE	3.00	84,000.00	11-01-2006
30102604	BENEDICT COLLEGE	3.00	1,389,000.00	11-01-2020
30102802	BETHANY COLLEGE - DORM BOND 1965	3.38	166,000.00	11-01-2012
30102803	BETHANY COLLEGE - HALL BOND 1967	3.00	200,000.00	11-01-2017
30102804	BETHANY COLLEGE - NOTE OF 1973	3.00	305,000.00	11-01-2012
30103302	BRANDEIS UNIVERSITY	3.00	153,641.54	11-01-2011
30103901	CALIFORNIA STATE COLLEGES	3.00	250,000.00	11-01-2007
30104001	CALIFORNIA STATE UNIVERSITY,	3.00	50,000.00	11-01-2006
30104102	CALIFORNIA STATE UNIVERSITY,	3.00	745,000.00	11-01-2013
30104201	TRUST SERVICES DIVISION	3.00	1,958,000.00	11-01-2019
30104401	CAMERON UNIVERSITY	3.00	610,000.00	4-01-2007
30104604	CARNEGIE MELLON	3.00	120,000.00	5-01-2009
30104605	CARNEGIE MELLON	3.00	720,000.00	11-01-2017
30104702	CARROLL COLLEGE	3.75	230,000.00	6-01-2014
30104703	CARROLL COLLEGE	3.00	118,992.19	6-01-2018
30104801	CARROLL COLLEGE - DORM BOND 1965	3.75	324,000.00	3-01-2015
30105101	CATAWBA COLLEGE	3.00	101,000.00	12-01-2009
30105404	CENTRAL MISSOURI STATE	3.00	245,000.00	7-01-2007
30105701	CHAMPLAIN COLLEGE, INC.	3.00	95,399.38	12-01-2013
30106702	COLLEGE OF SAINT ROSE	3.00	722,553.53	5-01-2022
30106802	COLLEGE OF ST. THOMAS	3.00	222,000.00	11-01-2009
30106904	COLLEGE OF SANTA FE	3.00	435,000.00	10-01-2018
30107002	COLLEGE OF THE HOLY CROSS	3.63	610,000.00	10-01-2013
30107003	COLLEGE OF THE HOLY CROSS	3.00	110,000.00	10-01-2006
30107601	CONCORDIA COLLEGE	3.00	66,000.00	4-01-2009
30107701	CONCORDIA COLLEGE	3.00	555,000.00	5-01-2019
30108101	CUMBERLAND COLLEGE	3.00	228,000.00	8-01-2017
30108202	DAEMEN COLLEGE(ROSARY HILL COLLEGE)	3.00	435,000.00	4-01-2016
30108301	DAKOTA WESLEYAN UNIVERSITY	3.00	145,000.00	10-01-2015
30108801	DILLARD UNIVERSITY	3.00	69,000.00	4-01-2008
30109301	DOWLING COLLEGE	3.00	294,000.00	10-01-2010
30109502	DREXEL UNIVERSITY	3.50	800,000.00	5-01-2014
30109604	DRURY COLLEGE	3.00	185,000.00	4-01-2015
30109605	DRURY COLLEGE	3.00	238,000.00	10-01-2010
30109801	DYOURVILLE COLLEGE	3.00	801,535.00	4-01-2018
30110101	ELIZABETH CITY STATE UNIVERSITY	3.00	270,000.00	10-01-2017
30110301	EMBRY RIDDLE AERONAUTICAL UNIV.	3.00	125,000.00	9-01-2007
30110401	EMMANUEL COLLEGE	3.00	101,000.00	11-01-2013
30110802	FAIRLEIGH DICKINSON UNIV	3.00	1,190,000.00	11-01-2017
30111202	FLORIDA ATLANTIC UNIVERSITY-SER A	3.00	50,000.00	7-01-2006
30111301	FLORIDA INSTITUTE OF TECHNOLOGY	3.00	80,000.00	11-01-2009
30111603	FT HAYES STATE UNIVERSITY	3.00	40,000.00	10-01-2007
30111802	GANNON UNIV. - DORM BOND 1969, SER A	3.00	379,999.98	11-01-2011

1

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
30111803	GANNON UNIVERSITY	3.00	161,490.00	12-01-2022
30111901	GAVILAN COLLEGE	3.00	12,000.00	4-01-2006
30112002	GEORGE FOX COLLEGE	3.00	565,876.91	7-01-2018
30112202	GEORGETOWN COLLEGE	3.00	165,000.00	12-01-2008
30112203	GEORGETOWN COLLEGE	3.00	355,000.00	12-01-2009
30112301	GEORGETOWN UNIVERSITY	3.00	2,175,000.00	11-01-2020
30112302	GEORGETOWN UNIVERSITY	4.00	5,665,000.00	11-01-2020
30112901	HAMPSHIRE COLLEGE	3.00	225,714.79	7-01-2013
30112902	HAMPSHIRE COLLEGE	3.00	880,645.60	2-01-2014
30113401	HESSTON COLLEGE	3.00	23,000.00	4-01-2006
30113501	HIGH POINT COLLEGE	3.00	154,000.00	12-01-2010
30113601	HINDS JUNIOR COLLEGE	3.00	1,169,000.00	4-01-2013
30113702	HIWASSEE COLLEGE	3.00	147,772.18	9-15-2018
30113801	HOFSTRA UNIVERSITY	3.00	1,164,323.49	11-01-2012
30114001	HOOD COLLEGE	3.63	185,000.00	11-01-2014
30114201	HUSTON-TILLOTSON COLLEGE - DORM 1964	3.50	255,000.00	4-01-2014
30114302	HUNTINGDON COLLEGE - DORM 1968	3.00	90,000.00	10-01-2008
30114801	INTER AMERICAN UNIVERSITY OF PUERTO RICO	3.00	24,000.00	9-01-2007
30114802	INTER-AMERICAN UNIV. OF PUERTO RICO	3.00	1,662,070.94	1-01-2017
30115001	JAMES MADISON UNIVERSITY	3.00	715,000.00	6-01-2009
30115803	KNOX COLLEGE - DORM BONDS 1966	3.00	50,000.00	4-01-2006
30115901	LA GRANGE COLLEGE	3.00	135,000.00	3-01-2009
30116201	LASSEN JUNIOR COLLEGE	3.00	359,000.00	4-01-2020
30116801	LINFIELD COLLEGE - HALL BONDS 1968	3.00	59,000.00	10-01-2017
30116903	LONG ISLAND UNIVERSITY	3.00	91,185.31	11-01-2009
30116904	LONG ISLAND UNIVERSITY	3.00	318,746.80	11-01-2009
30117002	LONG ISLAND UNIVERSITY	3.63	360,000.00	6-01-2014
30117204	LA. STATE UNIV. 1965 BOND SER B	3.00	38,000.00	7-01-2005
30117205	LA. STATE UNIV. 1966 BOND SER C	3.00	15,000.00	7-01-2006
30117402	LYCOMING COLLEGE	3.63	160,000.00	5-01-2014
30117403	LYCOMING COLLEGE	3.75	224,999.99	5-01-2015
30117501	LYNCHBURG COLLEGE	3.75	338,000.00	5-01-2015
30117502	LYNCHBURG COLLEGE	3.00	480,000.00	5-01-2018
30117602	MACALESTER COLLEGE	3.00	339,312.14	5-01-2020
30117801	MARIAN COLLEGE OF FOND DU LAC	3.00	375,000.00	10-01-2016
30118302	MARY BALDWIN COLLEGE	3.38	243,000.00	5-01-2012
30118401	MARYMOUNT UNIVERSITY	3.00	440,000.00	5-01-2016
30118701	MCLENNAN COMMUNITY COLLEGE	3.00	105,000.00	4-01-2006
30119001	SLOAN-MEMORIAL KETTERING CANCER CENTER	3.38	584,000.00	4-01-2012
30119202	MERCER UNIV. ACCOUNTING OFFICE	3.00	302,466.43	5-01-2014
30119801	MILLSAPS COLLEGE	3.00	456,000.00	11-01-2021
30119903	MISSISSIPPI STATE UNIVERSITY	3.00	1,165,000.00	12-01-2020
30120402	MORAVIAN COLLEGE	3.38	130,000.00	11-01-2012
30120501	MOREHOUSE COLLEGE	3.00	449,999.50	7-01-2010
30120601	MORGAN STATE UNIVERSTIY	3.00	1,453,538.35	11-01-2014
30120701	MORRIS BROWN COLLEGE	3.75	55,000.00	5-01-2007
30120705	MORRIS BROWN COLLEGE	3.00	910,000.00	5-01-2018
30120706	MORRIS BROWN COLLEGE	3.00	200,000.00	5-01-2010
30120801	MORRIS COLLEGE	3.00	252,000.00	11-01-2009
30121101	NEW ENGLAND COLLEGE	3.00	111,000.00	4-01-2016

2

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
30121201	NEWARK BETH ISREAL MEDICAL CENTER	3.63	395,000.00	1-01-2014
30121501	NORFOLK STATE UNIVERSITY	3.00	2,202,708.12	12-01-2021
30122302	NORTHEASTERN UNIVERSITY	3.00	2,221,132.74	5-01-2018
30122802	OCCIDENTAL COLLEGE	3.00	208,000.00	10-01-2019
30123401	PAINE COLLEGE	3.00	645,999.99	10-01-2016
30123701	UNIVERSITY OF THE ARTS	3.00	1,867,448.44	1-01-2022
30124901	RANDOLPH MACON COLLEGE	3.00	135,000.00	5-01-2010
30125102	REGIS COLLEGE	3.00	300,000.00	11-01-2012
30125504	RIDER COLLEGE	3.63	1,115,000.00	11-01-2013
30125506	RIDER COLLEGE	3.00	322,000.00	5-01-2017
30125601	RIO GRANDE COLLEGE	3.00	35,583.51	3-30-2009
30126102	RUTGERS, THE STATE UNIVERSITY	3.75	485,000.00	5-01-2016
30127402	ST MARY’S COLLEGE	3.00	315,000.00	6-01-2020
30127602	SAINT MICHAELS COLLEGE	3.00	1,158,543.67	5-01-2013
30127703	SAINT NORBERT COLLEGE	3.00	95,000.00	4-01-2007
30127801	SAINT PAULS COLLEGE	3.00	317,559.01	11-01-2014
30128001	SAINT VINCENT COLLEGE	3.50	400,000.00	5-01-2013
30128301	CALIFORNIA STATE COLLEGES	3.00	125,000.00	11-01-2006
30128401	UNIVERSITY OF ILLINOIS	3.00	870,000.00	11-01-2018
30128602	SEATTLE UNIVERSITY - 1967 PHYS ED	3.00	174,000.00	11-01-2008
30128802	SETON HILL COLLEGE	3.63	218,000.00	11-01-2014
30129101	SIMPSON COLLEGE - BOND 1966	3.00	222,000.00	7-01-2016
30129402	SOUTHEAST MISSOURI STATE UNIV(ESCROW)	3.00	236,000.00	4-01-2007
30129802	SOUTHERN METHODIST UNIVERSITY	3.00	138,000.00	10-01-2007
30130301	SOUTHWEST TEXAS STATE UNIVERSITY	3.00	1,570,000.00	10-01-2015
30130502	SPALDING UNIVERSITY	3.00	66,000.00	9-01-2007
30130703	SPRINGFIELD COLLEGE	3.50	283,000.00	5-01-2013
30130903	STEPHEN F AUSTIN STATE UNIVERSITY	3.38	1,107,000.00	10-01-2012
30131702	TALLADEGA COLLEGE	3.00	265,895.00	12-01-2012
30132002	TAYLOR UNIVERSITY	3.00	158,000.00	10-01-2012
30132003	TAYLOR UNIVERSITY	3.00	501,000.00	10-01-2013
30132301	TEXAS A & I UNIV-BLDG SYS SER 1969A	3.00	281,000.00	7-01-2009
30132402	TEXAS SOUTHERN UNIVERSITY	3.50	315,000.00	4-01-2013
30132601	TRANSYLVANIA UNIVERSITY	3.00	222,000.00	11-01-2010
30132904	TUFTS UNIVERSITY	3.00	1,813,000.00	10-01-2021
30133201	UNIV STUDENT COOP HOUSING	3.00	1,325,000.00	4-01-2019
30133301	UNIVERSITY OF ALABAMA	3.00	645,000.00	11-01-2008
30134002	ARKANSAS STATE TEACHERS COLLEGE	3.00	78,000.00	4-01-2005
30134101	UNIVERSITY OF CENTRAL FLORIDA	3.00	130,000.00	10-01-2007
30134304	UNIVERSITY OF DELAWARE	3.00	170,000.00	11-01-2006
30134305	UNIVERSITY OF DELAWARE	3.00	489,000.00	12-01-2018
30134402	UNIVERSITY OF FLORIDA / REV. CERTS.,84	3.00	1,450,000.00	7-01-2014
30135701	UNIVERSITY OF NORTH CAROLINA	3.00	145,000.00	1-01-2008
30135702	UNIVERSITY OF NORTH CAROLINA	3.00	5,000.00	1-01-2007
30136002	UNIVERSITY OF PUERTO RICO	3.00	929,000.00	6-01-2011
30136801	UNIVERSITY OF ST THOMAS	3.00	491,000.00	10-01-2019
30136901	UNIV OF STEUBENVILLE	3.13	164,000.00	4-01-2010
30137501	UTICA COLLEGE OF SYRACUSE	3.00	212,000.00	11-01-2009
30137701	VERMONT STATE COLLEGE	3.00	160,000.00	6-01-2008
30137702	VERMONT STATE COLLEGE	3.00	165,000.00	7-01-2014

3

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
30137802	VILLANOVA UNIVERSITY	3.00	885,000.00	4-01-2019
30137901	VINCENNES UNIVERSITY	3.00	3,060,000.00	6-01-2023
30138001	VIRGINIA COMMONWEALTH	3.00	1,366,999.99	6-01-2011
30138101	VIRGINIA WESELAN COLLEGE	3.00	126,000.00	11-01-2009
30138102	VIRGINA ST WESELEYAN COLLEGE	3.00	94,000.00	11-01-2010
30138702	WESLEY COLLEGE	3.38	134,000.00	5-01-2013
30139001	WEST VALLEY COLLEGE	3.00	200,000.00	4-01-2009
30140003	WHEATON COLLEGE	3.50	525,000.00	4-01-2013
30140102	WHEELING COLLEGE	3.00	20,000.00	11-01-2007
30140201	WHEELOCH COLLEGE	3.00	12,411.56	5-01-2011
30140502	WITTENBERG UNIVERSITY	3.00	525,000.00	5-01-2015
30140503	WITTENBERG UNIVERSITY	3.00	170,000.00	11-01-2017
30140601	THE COLLEGE OF WOOSTER	3.00	16,920.20	3-30-2009
30141001	YORK HOSPITAL	3.00	277,000.00	5-01-2020
	TOTALS:		80,348,466.28

4

GMAC Commercial Mortgage

College and University Loan Trust II

Delinquency Report (60+ Days)

As of April 30, 2006

GMACCM Loan Number	Borrower Name	Next Payment Due	P and I Due	Current UPB
30108301	DAKOTA WESLEY	4-01-2004	28,400.00	145,000.00
30133201	UNIVERSITY STU COOP	4-01-2004	210,525.00	1,325,000.00
30104801	CARROLL COLLE	9-01-2004	41,775.00	324,000.00
30107601	CONCORDIA COLLEGE	10-01-2004	18,730.00	66,000.00
30134002	UNIV CENTR AR	10-01-2004	80,805.00	78,000.00
30131702	TALLADEGA COL	06-01-2005	33,705.00	265,895.00
30100102	ALAMBAMA AGRICULTURE	01-01-2006	1,125.00	75,000.00
30117204	LOUISIANA STATE	01-01-2006	570.00	38,000.00
TOTAL:			415,635.00	2,316,895.00

GMAC Commercial Mortgage

College and University Loan Trust II

Liquidation Report

As of April 30, 2006

None to report for this period

GMAC Commercial Mortgage

College and University Loan Trust II

Collection Account Activity Report

For the Period of May 1, 2006 through May 31, 2006

Collections:
Principal Payments	1,466,756.19
Interest Payments	681,861.21
Total Principal and Interest Collections	2,148,617.40
Payments and Reversals Posted to Suspense	148,262.51
Total Collections	2,296,879.91
Less: Servicing Fees (not withheld from remittances)	(9,407.00	)
Net Collections	2,287,472.91

GMAC Commercial Mortgage

College & Trust Facility Loan Trust II

Service Fees Schedule

For the Period of May1, 2006 through May 31, 2006

Date Due	GMACCM Number	Borrower Name	Principal Due	Interest Due	Total Due	Principal Balance	Service Fees
5012006	30100103	ALABAMA AGRIC	90000	20625	110625	1375000	515.63
5012006	30100301	ALBRIGHT COLL	0	5220	5220	348000	130.50
5012006	30102603	BENEDICT COLL	0	1260	1260	84000	31.50
5012006	30102604	BENEDICT COLL	0	20835	20835	1389000	520.88
5012006	30102802	BETHANY COLLE	0	2801.25	2801.25	166000	62.25
5012006	30102803	BETHANY COLLE	0	3000	3000	200000	75.00
5012006	30102804	BETHANY COLLE	20000	4575	24575	305000	114.38
5012006	30103302	BRANDEIS UNIV	11781.22	2304.62	14085.84	153641.54	57.62
5012006	30103901	CALIFORNIA ST	0	3750	3750	250000	93.75
5012006	30104001	CALIFORNIA ST	0	750	750	50000	18.75
5012006	30104102	CALIFORNIA ST	0	11175	11175	745000	279.38
5012006	30104201	CALIFORNIA ST	0	29370	29370	1958000	734.25
5012006	30104604	CARNEGIE-MELL	30000	1800	31800	120000	45.00
5012006	30104605	CARNEGIE-MELL	25000	10800	35800	720000	270.00
5012006	30106702	COLLEGE OF ST	17082.2	10838.3	27920.5	722553.53	270.96
5012006	30106802	COLLEGE OF ST	0	3330	3330	222000	83.25
5012006	30107701	CONCORDIA COL	30000	8325	38325	555000	208.13
5012006	30109502	DREXEL UNIVER	80000	14000	94000	800000	300.00
5012006	30110401	EMMANUEL COLL	0	1515	1515	101000	37.88
5012006	30110802	FAIRLEIGH DIC	0	17850	17850	1190000	446.25
5012006	30111301	FLORIDA INSTI	0	1200	1200	80000	30.00
5012006	30111802	GANNON UNIVER	0	5700	5700	379999.98	142.50
5012006	30112301	GEORGETOWN UN	0	32625	32625	2175000	815.63
5012006	30112302	GEORGETOWN UN	0	113300	113300	5665000	2,124.38
5012006	30113801	HOFSTRA UNIVE	75358.87	17464.85	92823.72	1164323.49	436.62
5012006	30114001	HOOD COLLEGE	0	3353.12	3353.12	185000	69.38
5012006	30116903	LONG ISLAND U	10813.12	1367.78	12180.9	91185.31	34.19
5012006	30116904	LONG ISLAND U	37798.3	4781.19	42579.49	318746.8	119.53
5012006	30117402	LYCOMING COLL	15000	2900	17900	160000	60.00
5012006	30117403	LYCOMING COLL	20000	4218.75	24218.75	224999.99	84.37
5012006	30117501	LYNCHBURG COL	30000	6337.5	36337.5	338000	126.75
5012006	30117502	LYNCHBURG COL	30000	7200	37200	480000	180.00
5012006	30117602	MACALESTER CO	9661.98	5089.68	14751.66	339312.14	127.24
5012006	30118302	MARY BALDWIN	35000	4100.63	39100.63	243000	91.13
5012006	30118401	MARYMOUNT UNI	35000	6600	41600	440000	165.00
5012006	30119202	MERCER UNIVER	15752.35	4537	20289.35	302466.43	113.42
5012006	30119801	MILLSAPS COLL	0	6840	6840	456000	171.00
5012006	30120402	MORAVIAN COLL	0	2193.75	2193.75	130000	48.75
5012006	30120601	MORGAN STATE	70941.08	21803.08	92744.16	1453538.35	545.08
5012006	30120701	MORRIS BROWN	27000	1031.25	28031.25	55000	20.63
5012006	30120705	MORRIS BROWN	60000	13650	73650	910000	341.25		Delinquent
5012006	30120706	MORRIS BROWN	40000	3000	43000	200000	75.00
5012006	30120801	MORRIS COLLEG	0	3780	3780	252000	94.50
5012006	30122302	NORTHEASTERN	73882.58	33316.99	107199.57	2221132.74	832.92
5012006	30124901	RANDOLPH-MACO	15000	2025	17025	135000	50.63
5012006	30125102	REGIS COLLEGE	0	4500	4500	300000	112.50
5012006	30125504	RIDER COLLEGE	0	20209.38	20209.38	1115000	418.13
5012006	30125506	RIDER COLLEGE	25000	4830	29830	322000	120.75
5012006	30126102	RUTGERS, THE	35000	9093.75	44093.75	485000	181.88
5012006	30127602	ST MICHAELS C	69481.84	17378.16	86860	1158543.67	434.45
5012006	30127801	ST PAULS COLL	15498.7	4763.39	20262.09	317559.01	119.08		Delinquent
5012006	30128001	ST VINCENT CO	45000	7000	52000	400000	150.00
5012006	30128301	CALIFORNIA ST	0	1875	1875	125000	46.88
5012006	30128401	SANGAMON STAT	30000	13050	43050	870000	326.25
5012006	30128602	SEATTLE UNIVE	0	2610	2610	174000	65.25
5012006	30128802	SETON HILL CO	0	3951.25	3951.25	218000	81.75
5012006	30130703	SPRINGFIELD C	35000	4952.5	39952.5	283000	106.13
5012006	30132601	TRANSYLVANIA	0	3330	3330	222000	83.25
5012006	30133301	UNIVERSITY OF	0	9675	9675	645000	241.88
5012006	30134304	UNIV OF DELAW	0	2550	2550	170000	63.75
5012006	30135601	UNIV N CAROLI	0	1155	1155	0	—
5012006	30137501	UTICA COLLEGE	0	3180	3180	212000	79.50
5012006	30138101	VIRGINIA WESL	0	1890	1890	126000	47.25
5012006	30138102	VIRGINIA WESL	0	1410	1410	94000	35.25
5012006	30138702	WESLEY COLLEG	17000	2261.25	19261.25	134000	50.25
5012006	30140102	WHEELING COLL	0	300	300	20000	7.50
5012006	30140201	WHEELOCK COLL	1142.55	203.31	1345.86	13554.11	5.08
5012006	30140502	WITTENBERG UN	45000	7875	52875	525000	196.88
5012006	30140503	WITTENBERG UN	0	2550	2550	170000	63.75
5012006	30141001	YORK HOSPITAL	15,000.00	4,155.00	19,155.00	277,000.00	103.88
		TOTALS:	1,238,194.79	617,287.73	1,855,482.52	38,230,557.09	9,867.33
							(341.25	)
							(119.08	)
							9,407.00		Service Fees withheld for Mayl 2006

1

GMAC Commercial Mortgage

College and University Loan Trust II

Paid in full Schedule

For the Period of May 1, 2006 through May 31, 2006

Loan Number	Payoff Date	Total Amount Paid	Principal Amount	Interest Amount	Other Fees	Maturity Date
30107601	60530	66000	66000	0	0	4012009
30113501	60505	156310	154000	2310	0	12012010
TOTALS:		222,310.00	220,000.00	2,310.00	—

GMAC Commercial Mortgage

College and University Loan Trust II

Summary of Partial Prepayments

For the Period of May 1, 2006 through May 31, 2006

Loan Number	Payoff Date	Total Amount Paid	Principal Amount	Interest Amount
30122302	60503	0.01	0.01	0
30127602	60504	0.01	0.01	0
	TOTAL:	0.01	0.01	—

GMAC Commercial Mortgage

College and University Loan Trust II

Trial Balance

As of May 31, 2006

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
30100102	ALABAMA AGRICULTURAL	3.00	75,000.00	7-01-2005
30100103	ALABAMA AGRICULTURAL	3.00	1,285,000.00	5-01-2018
30100201	ALBION COLLEGE	3.00	48,000.00	10-01-2009
30100301	ALBRIGHT COLLEGE	3.00	348,000.00	11-01-2015
30101601	AUBURN UNIVERSITY	3.00	1,555,000.00	12-01-2018
30101701	AZUSA PACIFIC UNIVERSITY	3.75	134,000.00	4-01-2015
30102603	BENEDICT COLLEGE	3.00	84,000.00	11-01-2006
30102604	BENEDICT COLLEGE	3.00	1,389,000.00	11-01-2020
30102802	BETHANY COLLEGE - DORM BOND 1965	3.38	166,000.00	11-01-2012
30102803	BETHANY COLLEGE - HALL BOND 1967	3.00	200,000.00	11-01-2017
30102804	BETHANY COLLEGE - NOTE OF 1973	3.00	285,000.00	11-01-2012
30103302	BRANDEIS UNIVERSITY	3.00	141,860.32	11-01-2011
30103901	CALIFORNIA STATE COLLEGES	3.00	250,000.00	11-01-2007
30104001	CALIFORNIA STATE UNIVERSITY,	3.00	50,000.00	11-01-2006
30104102	CALIFORNIA STATE UNIVERSITY,	3.00	745,000.00	11-01-2013
30104201	TRUST SERVICES DIVISION	3.00	1,958,000.00	11-01-2019
30104401	CAMERON UNIVERSITY	3.00	305,000.00	4-01-2007
30104604	CARNEGIE MELLON	3.00	90,000.00	5-01-2009
30104605	CARNEGIE MELLON	3.00	695,000.00	11-01-2017
30104702	CARROLL COLLEGE	3.75	230,000.00	6-01-2014
30104703	CARROLL COLLEGE	3.00	118,992.19	6-01-2018
30104801	CARROLL COLLEGE - DORM BOND 1965	3.75	274,000.00	3-01-2015
30105101	CATAWBA COLLEGE	3.00	88,000.00	12-01-2009
30105404	CENTRAL MISSOURI STATE	3.00	245,000.00	7-01-2007
30105701	CHAMPLAIN COLLEGE, INC.	3.00	90,079.44	12-01-2013
30106702	COLLEGE OF SAINT ROSE	3.00	705,471.33	5-01-2022
30106802	COLLEGE OF ST. THOMAS	3.00	222,000.00	11-01-2009
30106904	COLLEGE OF SANTA FE	3.00	435,000.00	10-01-2018
30107002	COLLEGE OF THE HOLY CROSS	3.63	610,000.00	10-01-2013
30107003	COLLEGE OF THE HOLY CROSS	3.00	110,000.00	10-01-2006
30107701	CONCORDIA COLLEGE	3.00	525,000.00	5-01-2019
30108101	CUMBERLAND COLLEGE	3.00	228,000.00	8-01-2017
30108202	DAEMEN COLLEGE(ROSARY HILL COLLEGE)	3.00	400,000.00	4-01-2016
30108301	DAKOTA WESLEYAN UNIVERSITY	3.00	145,000.00	10-01-2015
30108801	DILLARD UNIVERSITY	3.00	38,000.00	4-01-2008
30109301	DOWLING COLLEGE	3.00	267,000.00	10-01-2010
30109502	DREXEL UNIVERSITY	3.50	720,000.00	5-01-2014
30109604	DRURY COLLEGE	3.00	176,000.00	4-01-2015
30109605	DRURY COLLEGE	3.00	216,000.00	10-01-2010
30109801	DYOURVILLE COLLEGE	3.00	749,535.00	4-01-2018
30110101	ELIZABETH CITY STATE UNIVERSITY	3.00	270,000.00	10-01-2017
30110301	EMBRY RIDDLE AERONAUTICAL UNIV.	3.00	125,000.00	9-01-2007
30110401	EMMANUEL COLLEGE	3.00	101,000.00	11-01-2013
30110802	FAIRLEIGH DICKINSON UNIV	3.00	1,190,000.00	11-01-2017
30111202	FLORIDA ATLANTIC UNIVERSITY-SER A	3.00	50,000.00	7-01-2006
30111301	FLORIDA INSTITUTE OF TECHNOLOGY	3.00	80,000.00	11-01-2009
30111603	FT HAYES STATE UNIVERSITY	3.00	40,000.00	10-01-2007
30111802	GANNON UNIV. - DORM BOND 1969, SER A	3.00	379,999.98	11-01-2011
30111803	GANNON UNIVERSITY	3.00	161,490.00	12-01-2022
30112002	GEORGE FOX COLLEGE	3.00	556,507.19	7-01-2018

1

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
30112202	GEORGETOWN COLLEGE	3.00	165,000.00	12-01-2008
30112203	GEORGETOWN COLLEGE	3.00	355,000.00	12-01-2009
30112301	GEORGETOWN UNIVERSITY	3.00	2,175,000.00	11-01-2020
30112302	GEORGETOWN UNIVERSITY	4.00	5,665,000.00	11-01-2020
30112901	HAMPSHIRE COLLEGE	3.00	225,714.79	7-01-2013
30112902	HAMPSHIRE COLLEGE	3.00	834,781.86	2-01-2014
30113601	HINDS JUNIOR COLLEGE	3.00	1,019,000.00	4-01-2013
30113702	HIWASSEE COLLEGE	3.00	143,080.76	9-15-2018
30113801	HOFSTRA UNIVERSITY	3.00	1,088,964.62	11-01-2012
30114001	HOOD COLLEGE	3.63	185,000.00	11-01-2014
30114201	HUSTON-TILLOTSON COLLEGE - DORM 1964	3.50	230,000.00	4-01-2014
30114302	HUNTINGDON COLLEGE - DORM 1968	3.00	90,000.00	10-01-2008
30114801	INTER AMERICAN UNIVERSITY OF PUERTO RICO	3.00	24,000.00	9-01-2007
30114802	INTER-AMERICAN UNIV. OF PUERTO RICO	3.00	1,662,070.94	1-01-2017
30115001	JAMES MADISON UNIVERSITY	3.00	715,000.00	6-01-2009
30115901	LA GRANGE COLLEGE	3.00	105,000.00	3-01-2009
30116201	LASSEN JUNIOR COLLEGE	3.00	339,000.00	4-01-2020
30116801	LINFIELD COLLEGE - HALL BONDS 1968	3.00	59,000.00	10-01-2017
30116904	LONG ISLAND UNIVERSITY	3.00	280,948.50	11-01-2009
30117002	LONG ISLAND UNIVERSITY	3.63	360,000.00	6-01-2014
30117204	LA. STATE UNIV. 1965 BOND SER B	3.00	38,000.00	7-01-2005
30117205	LA. STATE UNIV. 1966 BOND SER C	3.00	15,000.00	7-01-2006
30117402	LYCOMING COLLEGE	3.63	145,000.00	5-01-2014
30117403	LYCOMING COLLEGE	3.75	204,999.99	5-01-2015
30117501	LYNCHBURG COLLEGE	3.75	308,000.00	5-01-2015
30117502	LYNCHBURG COLLEGE	3.00	450,000.00	5-01-2018
30117602	MACALESTER COLLEGE	3.00	329,650.16	5-01-2020
30117801	MARIAN COLLEGE OF FOND DU LAC	3.00	375,000.00	10-01-2016
30118302	MARY BALDWIN COLLEGE	3.38	208,000.00	5-01-2012
30118401	MARYMOUNT UNIVERSITY	3.00	405,000.00	5-01-2016
30119001	SLOAN-MEMORIAL KETTERING CANCER CENTER	3.38	504,000.00	4-01-2012
30119202	MERCER UNIV. ACCOUNTING OFFICE	3.00	286,714.08	5-01-2014
30119801	MILLSAPS COLLEGE	3.00	456,000.00	11-01-2021
30119903	MISSISSIPPI STATE UNIVERSITY	3.00	1,165,000.00	12-01-2020
30120402	MORAVIAN COLLEGE	3.38	130,000.00	11-01-2012
30120501	MOREHOUSE COLLEGE	3.00	449,999.50	7-01-2010
30120601	MORGAN STATE UNIVERSTIY	3.00	1,382,597.27	11-01-2014
30120705	MORRIS BROWN COLLEGE	3.00	910,000.00	5-01-2018
30120801	MORRIS COLLEGE	3.00	252,000.00	11-01-2009
30121101	NEW ENGLAND COLLEGE	3.00	102,000.00	4-01-2016
30121201	NEWARK BETH ISREAL MEDICAL CENTER	3.63	395,000.00	1-01-2014
30121501	NORFOLK STATE UNIVERSITY	3.00	2,202,708.12	12-01-2021
30122302	NORTHEASTERN UNIVERSITY	3.00	2,147,250.15	5-01-2018
30122802	OCCIDENTAL COLLEGE	3.00	208,000.00	10-01-2019
30123401	PAINE COLLEGE	3.00	645,999.99	10-01-2016
30123701	UNIVERSITY OF THE ARTS	3.00	1,867,448.44	1-01-2022
30124901	RANDOLPH MACON COLLEGE	3.00	120,000.00	5-01-2010
30125102	REGIS COLLEGE	3.00	300,000.00	11-01-2012
30125504	RIDER COLLEGE	3.63	1,115,000.00	11-01-2013
30125506	RIDER COLLEGE	3.00	297,000.00	5-01-2017

2

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
30125601	RIO GRANDE COLLEGE	3.00	30,500.18	3-30-2009
30126102	RUTGERS, THE STATE UNIVERSITY	3.75	450,000.00	5-01-2016
30127402	ST MARY’S COLLEGE	3.00	315,000.00	6-01-2020
30127602	SAINT MICHAELS COLLEGE	3.00	1,089,061.82	5-01-2013
30127703	SAINT NORBERT COLLEGE	3.00	44,000.00	4-01-2007
30127801	SAINT PAULS COLLEGE	3.00	317,559.01	11-01-2014
30128001	SAINT VINCENT COLLEGE	3.50	355,000.00	5-01-2013
30128301	CALIFORNIA STATE COLLEGES	3.00	125,000.00	11-01-2006
30128401	UNIVERSITY OF ILLINOIS	3.00	840,000.00	11-01-2018
30128602	SEATTLE UNIVERSITY - 1967 PHYS ED	3.00	174,000.00	11-01-2008
30128802	SETON HILL COLLEGE	3.63	218,000.00	11-01-2014
30129101	SIMPSON COLLEGE - BOND 1966	3.00	222,000.00	7-01-2016
30129402	SOUTHEAST MISSOURI STATE UNIV(ESCROW)	3.00	71,000.00	4-01-2007
30129802	SOUTHERN METHODIST UNIVERSITY	3.00	138,000.00	10-01-2007
30130301	SOUTHWEST TEXAS STATE UNIVERSITY	3.00	1,570,000.00	10-01-2015
30130502	SPALDING UNIVERSITY	3.00	66,000.00	9-01-2007
30130703	SPRINGFIELD COLLEGE	3.50	248,000.00	5-01-2013
30130903	STEPHEN F AUSTIN STATE UNIVERSITY	3.38	1,107,000.00	10-01-2012
30131702	TALLADEGA COLLEGE	3.00	262,000.00	12-01-2012
30132002	TAYLOR UNIVERSITY	3.00	158,000.00	10-01-2012
30132003	TAYLOR UNIVERSITY	3.00	501,000.00	10-01-2013
30132301	TEXAS A & I UNIV-BLDG SYS SER 1969A	3.00	281,000.00	7-01-2009
30132402	TEXAS SOUTHERN UNIVERSITY	3.50	280,000.00	4-01-2013
30132601	TRANSYLVANIA UNIVERSITY	3.00	222,000.00	11-01-2010
30132904	TUFTS UNIVERSITY	3.00	1,813,000.00	10-01-2021
30133201	UNIV STUDENT COOP HOUSING	3.00	1,120,000.00	4-01-2019
30133301	UNIVERSITY OF ALABAMA	3.00	645,000.00	11-01-2008
30134002	ARKANSAS STATE TEACHERS COLLEGE	3.00	78,000.00	4-01-2005
30134101	UNIVERSITY OF CENTRAL FLORIDA	3.00	130,000.00	10-01-2007
30134304	UNIVERSITY OF DELAWARE	3.00	170,000.00	11-01-2006
30134305	UNIVERSITY OF DELAWARE	3.00	489,000.00	12-01-2018
30134402	UNIVERSITY OF FLORIDA / REV. CERTS.,84	3.00	1,450,000.00	7-01-2014
30135701	UNIVERSITY OF NORTH CAROLINA	3.00	145,000.00	1-01-2008
30135702	UNIVERSITY OF NORTH CAROLINA	3.00	5,000.00	1-01-2007
30136002	UNIVERSITY OF PUERTO RICO	3.00	929,000.00	6-01-2011
30136801	UNIVERSITY OF ST THOMAS	3.00	491,000.00	10-01-2019
30136901	UNIV OF STEUBENVILLE	3.13	133,000.00	4-01-2010
30137501	UTICA COLLEGE OF SYRACUSE	3.00	212,000.00	11-01-2009
30137701	VERMONT STATE COLLEGE	3.00	160,000.00	6-01-2008
30137702	VERMONT STATE COLLEGE	3.00	165,000.00	7-01-2014
30137802	VILLANOVA UNIVERSITY	3.00	835,000.00	4-01-2019
30137901	VINCENNES UNIVERSITY	3.00	3,060,000.00	6-01-2023
30138001	VIRGINIA COMMONWEALTH	3.00	1,366,999.99	6-01-2011
30138101	VIRGINIA WESELAN COLLEGE	3.00	126,000.00	11-01-2009
30138102	VIRGINA ST WESELEYAN COLLEGE	3.00	94,000.00	11-01-2010
30138702	WESLEY COLLEGE	3.38	117,000.00	5-01-2013
30139001	WEST VALLEY COLLEGE	3.00	150,000.00	4-01-2009
30140003	WHEATON COLLEGE	3.50	465,000.00	4-01-2013
30140102	WHEELING COLLEGE	3.00	20,000.00	11-01-2007
30140201	WHEELOCH COLLEGE	3.00	11,251.88	5-01-2011

3

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
30140502	WITTENBERG UNIVERSITY	3.00	480,000.00	5-01-2015
30140503	WITTENBERG UNIVERSITY	3.00	170,000.00	11-01-2017
30140601	THE COLLEGE OF WOOSTER	3.00	14,503.60	3-30-2009
30141001	YORK HOSPITAL	3.00	262,000.00	5-01-2020
	TOTALS:		76,878,741.10

4

GMAC Commercial Mortgage

College and University Loan Trust II

Delinquency Report (60+ Days)

As of May 31, 2006

GMACCM Loan Number	Borrower Name	Next Payment Due	P and I Due	Current UPB
30108301	DAKOTA WESLEY	4-01-2004	30,275.00	145,000.00
30120705	MORRIS BROWN	05-01-2006l	73,650.00	910,000.00
30127801	ST PAULS COLL	05-01-2006l	20,262.09	317,559.01
30134002	UNIV CENTR AR	10-01-2004	81,975.00	78,000.00
30131702	TALLADEGA COL	06-01-2005	33,705.00	265,895.00
30100102	ALAMBAMA AGRICULTURE	01-01-2006	1,125.00	75,000.00
30117204	LOUISIANA STATE	01-01-2006	570.00	38,000.00
TOTAL:			241,562.09	1,829,454.01

GMAC Commercial Mortgage

College and University Loan Trust II

Liquidation Report

As of May 31, 2006

None to report for this period

GMAC Commercial Mortgage

College and University Loan Trust II

Collection Account Activity Report

For the Quarter Ended June 30, 2006

	April		May	June
Collections:
Principal Payments	1,417,997.23		1,466,756.19	2,159,770.10
Interest Payments	256,100.98		681,861.21	240,230.35
Total Principal and Interest Collections	1,674,098.21		2,148,617.40	2,400,000.45
Payments and Reversals Posted to Suspense	—		148,262.51	8,339.99
Total Collections	1,674,098.21		2,296,879.91	2,408,340.44
Less: Servicing Fees (not withheld from remittances)	(4,391.65	)	13,876.20	5,264.89
Net Collections	1,669,706.56		2,310,756.11	2,413,605.33

GMAC Commercial Mortgage

College & Trust Facility Loan Trust II

Service Fees Schedule

For the Quarter Ended June 30, 2006

Date Due	GMACCM Number	Borrower Name	Principal Due	Interest Due	Total Due	Principal Balance	Service Fees
April
4012006	30100201	ALBION COLLEG	—	720.00	720.00	48,000.00	18.00
4012006	30101701	AZUSA PACIFIC	12,000.00	2,737.50	14,737.50	146,000.00	54.75
4012006	30104401	CAMERON UNIVE	305,000.00	9,150.00	314,150.00	610,000.00	228.75
4012006	30105801	CHAPMAN COLLE	20,000.00	5,250.00	25,250.00	350,000.00	131.25
4012006	30106902	COLLEGE OF SA	—	435.00	435.00	—	—
4012006	30106904	COLLEGE OF SA	—	6,525.00	6,525.00	435,000.00	163.13
4012006	30107002	COLLEGE OF TH	—	11,056.25	11,056.25	610,000.00	228.75
4012006	30107003	COLLEGE OF TH	—	1,650.00	1,650.00	110,000.00	41.25
4012006	30107601	CONCORDIA COL	16,000.00	750.00	16,750.00	50,000.00	18.75
4012006	30108202	DAEMEN COLLEG	35,000.00	6,525.00	41,525.00	435,000.00	163.13
4012006	30108301	DAKOTA WESLEY	—	1,875.00	1,875.00	125,000.00	46.88
4012006	30108801	DILLARD UNIVE	31,000.00	1,035.00	32,035.00	69,000.00	25.88
4012006	30109301	DOWLING COLLE	27,000.00	4,410.00	31,410.00	294,000.00	110.25
4012006	30109604	DRURY COLLEGE	9,000.00	2,775.00	11,775.00	185,000.00	69.38
4012006	30109605	DRURY COLLEGE	22,000.00	3,570.00	25,570.00	238,000.00	89.25
4012006	30109801	DYOUVILLE COL	52,000.00	12,023.02	64,023.02	801,535.00	300.58
4012006	30110101	ELIZABETH CIT	—	4,050.00	4,050.00	270,000.00	101.25
4012006	30111603	FT HAYS STATE	—	600.00	600.00	40,000.00	15.00
4012006	30111901	GAVILAN COLLE	12,000.00	180.00	12,180.00	12,000.00	4.50
4012006	30112002	GEORGE FOX CO	9,369.72	4,244.08	13,613.80	565,876.91	212.20
4012006	30113401	HESSTON COLLE	23,000.00	345.00	23,345.00	23,000.00	8.63
4012006	30113601	HINDS JUNIOR	150,000.00	17,535.00	167,535.00	1,169,000.00	438.38
4012006	30114201	HOUSTON TILLO	25,000.00	4,462.50	29,462.50	255,000.00	95.63
4012006	30114302	HUNTINGDON CO	—	1,350.00	1,350.00	90,000.00	33.75
4012006	30115803	KNOX COLLEGE	50,000.00	750.00	50,750.00	50,000.00	18.75
4012006	30116102	LANGSTON UNIV	135,000.00	4,125.00	139,125.00	410,000.00	153.75
4012006	30116201	LASSEN JUNIOR	20,000.00	5,385.00	25,385.00	359,000.00	134.63
4012006	30116801	LINFIELD COLL	—	885.00	885.00	59,000.00	22.13
4012006	30117801	MARIAN COLLEG	—	5,625.00	5,625.00	375,000.00	140.63
4012006	30118701	MCLENNAN COMM	105,000.00	1,575.00	106,575.00	105,000.00	39.38
4012006	30119001	MEMORIAL SLOA	80,000.00	9,855.00	89,855.00	584,000.00	219.00
4012006	30121101	NEW ENGLAND C	9,000.00	1,665.00	10,665.00	111,000.00	41.63
4012006	30122802	OCCIDENTAL CO	—	3,120.00	3,120.00	208,000.00	78.00
4012006	30123401	PAINE COLLEGE	—	9,690.00	9,690.00	645,999.99	242.25
4012006	30125401	RHODE ISLAND	—	525.00	525.00	—	—
4012006	30127703	ST NORBERT CO	51,000.00	1,425.00	52,425.00	95,000.00	35.63
4012006	30129402	SOUTHEAST MIS	165,000.00	3,540.00	168,540.00	236,000.00	88.50
4012006	30129802	SOUTHERN METH	0.00	2,070.00	2,070.00	138,000.00	51.75
4012006	30130301	SOUTHWEST TEX	0.00	23,550.00	23,550.00	1,570,000.00	588.75
4012006	30130903	STEPHEN F AUS	0.00	18,680.63	18,680.63	1,107,000.00	415.13
4012006	30132002	TAYLOR UNIVER	0.00	2,370.00	2,370.00	158,000.00	59.25
4012006	30132003	TAYLOR UNIVER	0.00	7,515.00	7,515.00	501,000.00	187.88
4012006	30132402	TEXAS SOUTHER	35,000.00	5,512.50	40,512.50	315,000.00	118.13
4012006	30132904	TUFTS UNIVERS	0.00	27,195.00	27,195.00	1,813,000.00	679.88
4012006	30133201	UNIV STU COOP	70,000.00	17,850.00	87,850.00	1,190,000.00	446.25
4012006	30134002	UNIV CENTR AR	0.00	1,170.00	1,170.00	0.00	—

Date Due	GMACCM Number	Borrower Name	Principal Due	Interest Due	Total Due	Principal Balance	Service Fees
4012006	30134101	UNIVERSITY OF	0.00	1,950.00	1,950.00	130,000.00	48.75
4012006	30134901	UNIVERSITY OF	0.00	7,031.25	7,031.25	0.00	—
4012006	30136801	UNIVERSITY OF	0.00	7,365.00	7,365.00	491,000.00	184.13
4012006	30136901	UNIVERSITY OF	31,000.00	2,562.50	33,562.50	164,000.00	61.50
4012006	30137802	VILLANOVA UNI	50,000.00	13,275.00	63,275.00	885,000.00	331.88
4012006	30138302	WARTBURG COLL	13,000.00	1,631.25	14,631.25	87,000.00	32.63
4012006	30139001	WEST VALLEY C	50,000.00	3,000.00	53,000.00	200,000.00	75.00
4012006	30139504	WESTERN WASHI	0.00	1,312.50	1,312.50	0.00	—
4012006	30140003	WHEATON COLLE	60,000.00	9,187.50	69,187.50	525,000.00	196.88
							(446.25	)
							—
							(46.88	)
							(18.75	)
							(18.00	)
		TOTALS:	1,672,369.72	304,646.48	1,977,016.20	19,443,411.90	6,761.51
May
5012006	30100103	ALABAMA AGRIC	90,000.00	20,625.00	110,625.00	1,375,000.00	515.63
5012006	30100301	ALBRIGHT COLL	—	5,220.00	5,220.00	348,000.00	130.50
5012006	30102603	BENEDICT COLL	—	1,260.00	1,260.00	84,000.00	31.50
5012006	30102604	BENEDICT COLL	—	20,835.00	20,835.00	1,389,000.00	520.88
5012006	30102802	BETHANY COLLE	—	2,801.25	2,801.25	166,000.00	62.25
5012006	30102803	BETHANY COLLE	—	3,000.00	3,000.00	200,000.00	75.00
5012006	30102804	BETHANY COLLE	20,000.00	4,575.00	24,575.00	305,000.00	114.38
5012006	30103302	BRANDEIS UNIV	11,781.22	2,304.62	14,085.84	153,641.54	57.62
5012006	30103901	CALIFORNIA ST	—	3,750.00	3,750.00	250,000.00	93.75
5012006	30104001	CALIFORNIA ST	—	750.00	750.00	50,000.00	18.75
5012006	30104102	CALIFORNIA ST	—	11,175.00	11,175.00	745,000.00	279.38
5012006	30104201	CALIFORNIA ST	—	29,370.00	29,370.00	1,958,000.00	734.25
5012006	30104604	CARNEGIE-MELL	30,000.00	1,800.00	31,800.00	120,000.00	45.00
5012006	30104605	CARNEGIE-MELL	25,000.00	10,800.00	35,800.00	720,000.00	270.00
5012006	30106702	COLLEGE OF ST	17,082.20	10,838.30	27,920.50	722,553.53	270.96
5012006	30106802	COLLEGE OF ST	—	3,330.00	3,330.00	222,000.00	83.25
5012006	30107701	CONCORDIA COL	30,000.00	8,325.00	38,325.00	555,000.00	208.13
5012006	30109502	DREXEL UNIVER	80,000.00	14,000.00	94,000.00	800,000.00	300.00
5012006	30110401	EMMANUEL COLL	—	1,515.00	1,515.00	101,000.00	37.88
5012006	30110802	FAIRLEIGH DIC	—	17,850.00	17,850.00	1,190,000.00	446.25
5012006	30111301	FLORIDA INSTI	—	1,200.00	1,200.00	80,000.00	30.00
5012006	30111802	GANNON UNIVER	—	5,700.00	5,700.00	379,999.98	142.50
5012006	30112301	GEORGETOWN UN	—	32,625.00	32,625.00	2,175,000.00	815.63
5012006	30112302	GEORGETOWN UN	—	113,300.00	113,300.00	5,665,000.00	2,124.38
5012006	30113801	HOFSTRA UNIVE	75,358.87	17,464.85	92,823.72	1,164,323.49	436.62
5012006	30114001	HOOD COLLEGE	—	3,353.12	3,353.12	185,000.00	69.38
5012006	30116903	LONG ISLAND U	10,813.12	1,367.78	12,180.90	91,185.31	34.19
5012006	30116904	LONG ISLAND U	37,798.30	4,781.19	42,579.49	318,746.80	119.53
5012006	30117402	LYCOMING COLL	15,000.00	2,900.00	17,900.00	160,000.00	60.00

Date Due	GMACCM Number	Borrower Name	Principal Due	Interest Due	Total Due	Principal Balance	Service Fees
5012006	30117403	LYCOMING COLL	20,000.00	4,218.75	24,218.75	224,999.99	84.37
5012006	30117501	LYNCHBURG COL	30,000.00	6,337.50	36,337.50	338,000.00	126.75
5012006	30117502	LYNCHBURG COL	30,000.00	7,200.00	37,200.00	480,000.00	180.00
5012006	30117602	MACALESTER CO	9,661.98	5,089.68	14,751.66	339,312.14	127.24
5012006	30118302	MARY BALDWIN	35,000.00	4,100.63	39,100.63	243,000.00	91.13
5012006	30118401	MARYMOUNT UNI	35,000.00	6,600.00	41,600.00	440,000.00	165.00
5012006	30119202	MERCER UNIVER	15,752.35	4,537.00	20,289.35	302,466.43	113.42
5012006	30119801	MILLSAPS COLL	—	6,840.00	6,840.00	456,000.00	171.00
5012006	30120402	MORAVIAN COLL	—	2,193.75	2,193.75	130,000.00	48.75
5012006	30120601	MORGAN STATE	70,941.08	21,803.08	92,744.16	1,453,538.35	545.08
5012006	30120701	MORRIS BROWN	27,000.00	1,031.25	28,031.25	55,000.00	20.63
5012006	30120705	MORRIS BROWN	60,000.00	13,650.00	73,650.00	910,000.00	341.25
5012006	30120706	MORRIS BROWN	40,000.00	3,000.00	43,000.00	200,000.00	75.00
5012006	30120801	MORRIS COLLEG	—	3,780.00	3,780.00	252,000.00	94.50
5012006	30122302	NORTHEASTERN	73,882.58	33,316.99	107,199.57	2,221,132.74	832.92
5012006	30124901	RANDOLPH-MACO	15,000.00	2,025.00	17,025.00	135,000.00	50.63
5012006	30125102	REGIS COLLEGE	—	4,500.00	4,500.00	300,000.00	112.50
5012006	30125504	RIDER COLLEGE	—	20,209.38	20,209.38	1,115,000.00	418.13
5012006	30125506	RIDER COLLEGE	25,000.00	4,830.00	29,830.00	322,000.00	120.75
5012006	30126102	RUTGERS, THE	35,000.00	9,093.75	44,093.75	485,000.00	181.88
5012006	30127602	ST MICHAELS C	69,481.84	17,378.16	86,860.00	1,158,543.67	434.45
5012006	30127801	ST PAULS COLL	15,498.70	4,763.39	20,262.09	317,559.01	119.08
5012006	30128001	ST VINCENT CO	45,000.00	7,000.00	52,000.00	400,000.00	150.00
5012006	30128301	CALIFORNIA ST	—	1,875.00	1,875.00	125,000.00	46.88
5012006	30128401	SANGAMON STAT	30,000.00	13,050.00	43,050.00	870,000.00	326.25
5012006	30128602	SEATTLE UNIVE	—	2,610.00	2,610.00	174,000.00	65.25
5012006	30128802	SETON HILL CO	—	3,951.25	3,951.25	218,000.00	81.75
5012006	30130703	SPRINGFIELD C	35,000.00	4,952.50	39,952.50	283,000.00	106.13
5012006	30132601	TRANSYLVANIA	—	3,330.00	3,330.00	222,000.00	83.25
5012006	30133301	UNIVERSITY OF	—	9,675.00	9,675.00	645,000.00	241.88
5012006	30134304	UNIV OF DELAW	—	2,550.00	2,550.00	170,000.00	63.75
5012006	30135601	UNIV N CAROLI	—	1,155.00	1,155.00	—	—
5012006	30137501	UTICA COLLEGE	—	3,180.00	3,180.00	212,000.00	79.50
5012006	30138101	VIRGINIA WESL	—	1,890.00	1,890.00	126,000.00	47.25
5012006	30138102	VIRGINIA WESL	—	1,410.00	1,410.00	94,000.00	35.25
5012006	30138702	WESLEY COLLEG	17,000.00	2,261.25	19,261.25	134,000.00	50.25
5012006	30140102	WHEELING COLL	—	300.00	300.00	20,000.00	7.50
5012006	30140201	WHEELOCK COLL	1,142.55	203.31	1,345.86	13,554.11	5.08
5012006	30140502	WITTENBERG UN	45,000.00	7,875.00	52,875.00	525,000.00	196.88
5012006	30140503	WITTENBERG UN	0	2550	2550	170000	63.75
5012006	30141001	YORK HOSPITAL	15000	4155	19155	277000	103.88
							(119.08	)
							(341.25	)
		TOTALS:	1,238,194.79	617,287.73	1,855,482.52	38,230,557.09	13,876.20

Date Due	GMACCM Number	Borrower Name	Principal Due	Interest Due	Total Due	Principal Balance	Service Fees
June
6012006	30101601	AUBURN UNIVER	—	23,325.00	23,325.00	1,555,000.00	583.13
6012006	30104702	CARROLL COLLE	22,000.00	4,312.50	26,312.50	230,000.00	86.25
6012006	30104703	CARROLL COLLE	3,958.11	1,784.88	5,742.99	118,992.19	44.62
6012006	30105101	CATAWBA COLLE	13,000.00	1,515.00	14,515.00	101,000.00	37.88
6012006	30105701	CHAMPLAIN COL	5,319.94	1,430.99	6,750.93	95,399.38	35.77
6012006	30111803	GANNON UNIVER	3,675.83	2,422.35	6,098.18	161,490.00	60.56
6012006	30112202	GEORGETOWN CO	—	2,475.00	2,475.00	165,000.00	61.88
6012006	30112203	GEORGETOWN CO	—	5,325.00	5,325.00	355,000.00	133.13
6012006	30113501	HIGH POINT CO	15,000.00	2,310.00	17,310.00	154,000.00	57.75
6012006	30115001	JAMES MADISON	170,000.00	10,725.00	180,725.00	715,000.00	268.13
6012006	30116601	LENOIR RHYNE	—	285.00	285.00	19,000.00	7.13
6012006	30117002	LONG ISLAND U	35,000.00	6,525.00	41,525.00	360,000.00	135.00
6012006	30119903	MISSISSIPPI S	—	17,475.00	17,475.00	1,165,000.00	436.88
6012006	30121501	NORFOLK STATE	54,136.16	33,040.62	87,176.78	2,202,708.12	826.02
6012006	30122701	NOVA UNIVERSI	—	1,350.00	1,350.00	90,000.00	33.75
6012006	30127402	ST MARY’S COL	9,000.00	4,725.00	13,725.00	315,000.00	118.13
6012006	30131702	TALLADEGA COL	18,000.00	3,480.00	21,480.00	232,000.00	87.00
6012006	30134305	UNIVERSITY OF	15,000.00	7,335.00	22,335.00	489,000.00	183.38
6012006	30136002	UNIVERSITY OF	140000	13935	153935	929000	348.38
6012006	30137701	VERMONT STATE	50000	2400	52400	160000	60.00
6012006	30137901	VINCENNES UNI	130000	45900	175900	3060000	1,147.50
6012006	30138001	VIRGINIA COMM	210000	20505	230505	1366999.99	512.62
		TOTALS:	894,090.04	212,581.34	1,106,671.38	14,039,589.68	5,264.89
TOTALS FOR 3rd QTR			3,804,654.55	1,134,515.55	4,939,170.10	71,713,558.67	25,902.60

GMAC Commercial Mortgage

College and University Loan Trust II

Paid In Full Loan Schedule

For the Quarter Ended June 30, 2006

Loan Number	Payoff Date	Total Amount Paid	Principal Amount	Interest Amount	Other Fees	Maturity Date
30113401	60410	23,345.00	23,000.00	345.00	—	4012006
30115803	60407	50,750.00	50,000.00	750.00	—	4012006
30116903	60427	92,553.09	91,185.31	1,367.78	—	11012009
30118701	60404	106,575.00	105,000.00	1,575.00	—	4012006
30107601	60530	66,000.00	66,000.00	—	—	4012009
30113501	60505	156,310.00	154,000.00	2,310.00	—	12012010
30120705	60607	923,650.00	910,000.00	13,650.00	—	5012018
30131702	60626	262,000.00	262,000.00	—	—	12012012
TOTALS		1,681,183.09	1,661,185.31	19,997.78	—

* Please note that service fees have not yet been deducted.

GMAC Commercial Mortgage

College and University Loan Trust II

Summary of Partial Prepayments

For Quarter ending June 30, 2006

Loan Number	Payoff Date	Total Amount Paid	Principal Amount	Interest Amount
30122302	60503	0.01	0.01	0
30127602	60504	0.01	0.01	0.00
	TOTAL:	0.01	0.01	—

GMAC Commercial Mortgage

College and University Loan Trust II

Trial Balance

For Quarter ending June 30,2006

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
April
30100102	ALABAMA AGRICULTURAL	3.00	75,000.00	7-01-2005
30100103	ALABAMA AGRICULTURAL	3.00	1,375,000.00	5-01-2018
30100201	ALBION COLLEGE	3.00	48,000.00	10-01-2009
30100301	ALBRIGHT COLLEGE	3.00	348,000.00	11-01-2015
30101102	ANDERSON COLLEGE	3.00	35,000.00	3-01-2006
30101601	AUBURN UNIVERSITY	3.00	1,555,000.00	12-01-2018
30101701	AZUSA PACIFIC UNIVERSITY	3.75	146,000.00	4-01-2015
30102603	BENEDICT COLLEGE	3.00	84,000.00	11-01-2006
30102604	BENEDICT COLLEGE	3.00	1,389,000.00	11-01-2020
30102802	BETHANY COLLEGE - DORM BOND 1965	3.38	166,000.00	11-01-2012
30102803	BETHANY COLLEGE - HALL BOND 1967	3.00	200,000.00	11-01-2017
30102804	BETHANY COLLEGE - NOTE OF 1973	3.00	305,000.00	11-01-2012
30103302	BRANDEIS UNIVERSITY	3.00	153,641.54	11-01-2011
30103901	CALIFORNIA STATE COLLEGES	3.00	250,000.00	11-01-2007
30104001	CALIFORNIA STATE UNIVERSITY,	3.00	50,000.00	11-01-2006
30104102	CALIFORNIA STATE UNIVERSITY,	3.00	745,000.00	11-01-2013
30104201	TRUST SERVICES DIVISION	3.00	1,958,000.00	11-01-2019
30104401	CAMERON UNIVERSITY	3.00	610,000.00	4-01-2007
30104604	CARNEGIE MELLON	3.00	120,000.00	5-01-2009
30104605	CARNEGIE MELLON	3.00	720,000.00	11-01-2017
30104702	CARROLL COLLEGE	3.75	230,000.00	6-01-2014
30104703	CARROLL COLLEGE	3.00	118,992.19	6-01-2018
30104801	CARROLL COLLEGE - DORM BOND 1965	3.75	324,000.00	3-01-2015
30105101	CATAWBA COLLEGE	3.00	101,000.00	12-01-2009
30105404	CENTRAL MISSOURI STATE	3.00	245,000.00	7-01-2007
30105701	CHAMPLAIN COLLEGE, INC.	3.00	95,399.38	12-01-2013
30106702	COLLEGE OF SAINT ROSE	3.00	722,553.53	5-01-2022
30106802	COLLEGE OF ST. THOMAS	3.00	222,000.00	11-01-2009
30106904	COLLEGE OF SANTA FE	3.00	435,000.00	10-01-2018
30107002	COLLEGE OF THE HOLY CROSS	3.63	610,000.00	10-01-2013
30107003	COLLEGE OF THE HOLY CROSS	3.00	110,000.00	10-01-2006
30107601	CONCORDIA COLLEGE	3.00	66,000.00	4-01-2009
30107701	CONCORDIA COLLEGE	3.00	555,000.00	5-01-2019
30108101	CUMBERLAND COLLEGE	3.00	228,000.00	8-01-2017
30108202	DAEMEN COLLEGE(ROSARY HILL COLLEGE)	3.00	435,000.00	4-01-2016
30108301	DAKOTA WESLEYAN UNIVERSITY	3.00	145,000.00	10-01-2015
30108801	DILLARD UNIVERSITY	3.00	69,000.00	4-01-2008
30109301	DOWLING COLLEGE	3.00	294,000.00	10-01-2010
30109502	DREXEL UNIVERSITY	3.50	800,000.00	5-01-2014
30109604	DRURY COLLEGE	3.00	185,000.00	4-01-2015
30109605	DRURY COLLEGE	3.00	238,000.00	10-01-2010
30109801	DYOURVILLE COLLEGE	3.00	801,535.00	4-01-2018
30110101	ELIZABETH CITY STATE UNIVERSITY	3.00	270,000.00	10-01-2017
30110301	EMBRY RIDDLE AERONAUTICAL UNIV.	3.00	125,000.00	9-01-2007
30110401	EMMANUEL COLLEGE	3.00	101,000.00	11-01-2013
30110802	FAIRLEIGH DICKINSON UNIV	3.00	1,190,000.00	11-01-2017
30111202	FLORIDA ATLANTIC UNIVERSITY-SER A	3.00	50,000.00	7-01-2006

1

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
April
30111301	FLORIDA INSTITUTE OF TECHNOLOGY	3.00	80,000.00	11-01-2009
30111603	FT HAYES STATE UNIVERSITY	3.00	40,000.00	10-01-2007
30111802	GANNON UNIV. - DORM BOND 1969, SER A	3.00	379,999.98	11-01-2011
30111803	GANNON UNIVERSITY	3.00	161,490.00	12-01-2022
30111901	GAVILAN COLLEGE	3.00	12,000.00	4-01-2006
30112002	GEORGE FOX COLLEGE	3.00	565,876.91	7-01-2018
30112202	GEORGETOWN COLLEGE	3.00	165,000.00	12-01-2008
30112203	GEORGETOWN COLLEGE	3.00	355,000.00	12-01-2009
30112301	GEORGETOWN UNIVERSITY	3.00	2,175,000.00	11-01-2020
30112302	GEORGETOWN UNIVERSITY	4.00	5,665,000.00	11-01-2020
30112901	HAMPSHIRE COLLEGE	3.00	225,714.79	7-01-2013
30112902	HAMPSHIRE COLLEGE	3.00	880,645.60	2-01-2014
30113401	HESSTON COLLEGE	3.00	23,000.00	4-01-2006
30113501	HIGH POINT COLLEGE	3.00	154,000.00	12-01-2010
30113601	HINDS JUNIOR COLLEGE	3.00	1,169,000.00	4-01-2013
30113702	HIWASSEE COLLEGE	3.00	147,772.18	9-15-2018
30113801	HOFSTRA UNIVERSITY	3.00	1,164,323.49	11-01-2012
30114001	HOOD COLLEGE	3.63	185,000.00	11-01-2014
30114201	HUSTON-TILLOTSON COLLEGE - DORM 1964	3.50	255,000.00	4-01-2014
30114302	HUNTINGDON COLLEGE - DORM 1968	3.00	90,000.00	10-01-2008
30114801	INTER AMERICAN UNIVERSITY OF PUERTO RICO	3.00	24,000.00	9-01-2007
30114802	INTER-AMERICAN UNIV. OF PUERTO RICO	3.00	1,662,070.94	1-01-2017
30115001	JAMES MADISON UNIVERSITY	3.00	715,000.00	6-01-2009
30115803	KNOX COLLEGE - DORM BONDS 1966	3.00	50,000.00	4-01-2006
30115901	LA GRANGE COLLEGE	3.00	135,000.00	3-01-2009
30116201	LASSEN JUNIOR COLLEGE	3.00	359,000.00	4-01-2020
30116801	LINFIELD COLLEGE - HALL BONDS 1968	3.00	59,000.00	10-01-2017
30116903	LONG ISLAND UNIVERSITY	3.00	91,185.31	11-01-2009
30116904	LONG ISLAND UNIVERSITY	3.00	318,746.80	11-01-2009
30117002	LONG ISLAND UNIVERSITY	3.63	360,000.00	6-01-2014
30117204	LA. STATE UNIV. 1965 BOND SER B	3.00	38,000.00	7-01-2005
30117205	LA. STATE UNIV. 1966 BOND SER C	3.00	15,000.00	7-01-2006
30117402	LYCOMING COLLEGE	3.63	160,000.00	5-01-2014
30117403	LYCOMING COLLEGE	3.75	224,999.99	5-01-2015
30117501	LYNCHBURG COLLEGE	3.75	338,000.00	5-01-2015
30117502	LYNCHBURG COLLEGE	3.00	480,000.00	5-01-2018
30117602	MACALESTER COLLEGE	3.00	339,312.14	5-01-2020
30117801	MARIAN COLLEGE OF FOND DU LAC	3.00	375,000.00	10-01-2016
30118302	MARY BALDWIN COLLEGE	3.38	243,000.00	5-01-2012
30118401	MARYMOUNT UNIVERSITY	3.00	440,000.00	5-01-2016
30118701	MCLENNAN COMMUNITY COLLEGE	3.00	105,000.00	4-01-2006
30119001	SLOAN-MEMORIAL KETTERING CANCER CENTER	3.38	584,000.00	4-01-2012
30119202	MERCER UNIV. ACCOUNTING OFFICE	3.00	302,466.43	5-01-2014
30119801	MILLSAPS COLLEGE	3.00	456,000.00	11-01-2021
30119903	MISSISSIPPI STATE UNIVERSITY	3.00	1,165,000.00	12-01-2020
30120402	MORAVIAN COLLEGE	3.38	130,000.00	11-01-2012
30120501	MOREHOUSE COLLEGE	3.00	449,999.50	7-01-2010

2

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
April
30120601	MORGAN STATE UNIVERSTIY	3.00	1,453,538.35	11-01-2014
30120701	MORRIS BROWN COLLEGE	3.75	55,000.00	5-01-2007
30120705	MORRIS BROWN COLLEGE	3.00	910,000.00	5-01-2018
30120706	MORRIS BROWN COLLEGE	3.00	200,000.00	5-01-2010
30120801	MORRIS COLLEGE	3.00	252,000.00	11-01-2009
30121101	NEW ENGLAND COLLEGE	3.00	111,000.00	4-01-2016
30121201	NEWARK BETH ISREAL MEDICAL CENTER	3.63	395,000.00	1-01-2014
30121501	NORFOLK STATE UNIVERSITY	3.00	2,202,708.12	12-01-2021
30122302	NORTHEASTERN UNIVERSITY	3.00	2,221,132.74	5-01-2018
30122802	OCCIDENTAL COLLEGE	3.00	208,000.00	10-01-2019
30123401	PAINE COLLEGE	3.00	645,999.99	10-01-2016
30123701	UNIVERSITY OF THE ARTS	3.00	1,867,448.44	1-01-2022
30124901	RANDOLPH MACON COLLEGE	3.00	135,000.00	5-01-2010
30125102	REGIS COLLEGE	3.00	300,000.00	11-01-2012
30125504	RIDER COLLEGE	3.63	1,115,000.00	11-01-2013
30125506	RIDER COLLEGE	3.00	322,000.00	5-01-2017
30125601	RIO GRANDE COLLEGE	3.00	35,583.51	3-30-2009
30126102	RUTGERS, THE STATE UNIVERSITY	3.75	485,000.00	5-01-2016
30127402	ST MARY’S COLLEGE	3.00	315,000.00	6-01-2020
30127602	SAINT MICHAELS COLLEGE	3.00	1,158,543.67	5-01-2013
30127703	SAINT NORBERT COLLEGE	3.00	95,000.00	4-01-2007
30127801	SAINT PAULS COLLEGE	3.00	317,559.01	11-01-2014
30128001	SAINT VINCENT COLLEGE	3.50	400,000.00	5-01-2013
30128301	CALIFORNIA STATE COLLEGES	3.00	125,000.00	11-01-2006
30128401	UNIVERSITY OF ILLINOIS	3.00	870,000.00	11-01-2018
30128602	SEATTLE UNIVERSITY - 1967 PHYS ED	3.00	174,000.00	11-01-2008
30128802	SETON HILL COLLEGE	3.63	218,000.00	11-01-2014
30129101	SIMPSON COLLEGE - BOND 1966	3.00	222,000.00	7-01-2016
30129402	SOUTHEAST MISSOURI STATE UNIV(ESCROW)	3.00	236,000.00	4-01-2007
30129802	SOUTHERN METHODIST UNIVERSITY	3.00	138,000.00	10-01-2007
30130301	SOUTHWEST TEXAS STATE UNIVERSITY	3.00	1,570,000.00	10-01-2015
30130502	SPALDING UNIVERSITY	3.00	66,000.00	9-01-2007
30130703	SPRINGFIELD COLLEGE	3.50	283,000.00	5-01-2013
30130903	STEPHEN F AUSTIN STATE UNIVERSITY	3.38	1,107,000.00	10-01-2012
30131702	TALLADEGA COLLEGE	3.00	265,895.00	12-01-2012
30132002	TAYLOR UNIVERSITY	3.00	158,000.00	10-01-2012
30132003	TAYLOR UNIVERSITY	3.00	501,000.00	10-01-2013
30132301	TEXAS A & I UNIV-BLDG SYS SER 1969A	3.00	281,000.00	7-01-2009
30132402	TEXAS SOUTHERN UNIVERSITY	3.50	315,000.00	4-01-2013
30132601	TRANSYLVANIA UNIVERSITY	3.00	222,000.00	11-01-2010
30132904	TUFTS UNIVERSITY	3.00	1,813,000.00	10-01-2021
30133201	UNIV STUDENT COOP HOUSING	3.00	1,325,000.00	4-01-2019
30133301	UNIVERSITY OF ALABAMA	3.00	645,000.00	11-01-2008
30134002	ARKANSAS STATE TEACHERS COLLEGE	3.00	78,000.00	4-01-2005
30134101	UNIVERSITY OF CENTRAL FLORIDA	3.00	130,000.00	10-01-2007
30134304	UNIVERSITY OF DELAWARE	3.00	170,000.00	11-01-2006
30134305	UNIVERSITY OF DELAWARE	3.00	489,000.00	12-01-2018

3

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
April
30134402	UNIVERSITY OF FLORIDA / REV. CERTS.,84	3.00	1,450,000.00	7-01-2014
30135701	UNIVERSITY OF NORTH CAROLINA	3.00	145,000.00	1-01-2008
30135702	UNIVERSITY OF NORTH CAROLINA	3.00	5,000.00	1-01-2007
30136002	UNIVERSITY OF PUERTO RICO	3.00	929,000.00	6-01-2011
30136801	UNIVERSITY OF ST THOMAS	3.00	491,000.00	10-01-2019
30136901	UNIV OF STEUBENVILLE	3.13	164,000.00	4-01-2010
30137501	UTICA COLLEGE OF SYRACUSE	3.00	212,000.00	11-01-2009
30137701	VERMONT STATE COLLEGE	3.00	160,000.00	6-01-2008
30137702	VERMONT STATE COLLEGE	3.00	165,000.00	7-01-2014
30137802	VILLANOVA UNIVERSITY	3.00	885,000.00	4-01-2019
30137901	VINCENNES UNIVERSITY	3.00	3,060,000.00	6-01-2023
30138001	VIRGINIA COMMONWEALTH	3.00	1,366,999.99	6-01-2011
30138101	VIRGINIA WESELAN COLLEGE	3.00	126,000.00	11-01-2009
30138102	VIRGINA ST WESELEYAN COLLEGE	3.00	94,000.00	11-01-2010
30138702	WESLEY COLLEGE	3.38	134,000.00	5-01-2013
30139001	WEST VALLEY COLLEGE	3.00	200,000.00	4-01-2009
30140003	WHEATON COLLEGE	3.50	525,000.00	4-01-2013
30140102	WHEELING COLLEGE	3.00	20,000.00	11-01-2007
30140201	WHEELOCH COLLEGE	3.00	12,411.56	5-01-2011
30140502	WITTENBERG UNIVERSITY	3.00	525,000.00	5-01-2015
30140503	WITTENBERG UNIVERSITY	3.00	170,000.00	11-01-2017
30140601	THE COLLEGE OF WOOSTER	3.00	16,920.20	3-30-2009
30141001	YORK HOSPITAL	3.00	277,000.00	5-01-2020
	TOTALS:		80,348,466.28
May
30100102	ALABAMA AGRICULTURAL	3.00	75,000.00	7-01-2005
30100103	ALABAMA AGRICULTURAL	3.00	1,285,000.00	5-01-2018
30100201	ALBION COLLEGE	3.00	48,000.00	10-01-2009
30100301	ALBRIGHT COLLEGE	3.00	348,000.00	11-01-2015
30101601	AUBURN UNIVERSITY	3.00	1,555,000.00	12-01-2018
30101701	AZUSA PACIFIC UNIVERSITY	3.75	134,000.00	4-01-2015
30102603	BENEDICT COLLEGE	3.00	84,000.00	11-01-2006
30102604	BENEDICT COLLEGE	3.00	1,389,000.00	11-01-2020
30102802	BETHANY COLLEGE - DORM BOND 1965	3.38	166,000.00	11-01-2012
30102803	BETHANY COLLEGE - HALL BOND 1967	3.00	200,000.00	11-01-2017
30102804	BETHANY COLLEGE - NOTE OF 1973	3.00	285,000.00	11-01-2012
30103302	BRANDEIS UNIVERSITY	3.00	141,860.32	11-01-2011
30103901	CALIFORNIA STATE COLLEGES	3.00	250,000.00	11-01-2007
30104001	CALIFORNIA STATE UNIVERSITY,	3.00	50,000.00	11-01-2006
30104102	CALIFORNIA STATE UNIVERSITY,	3.00	745,000.00	11-01-2013
30104201	TRUST SERVICES DIVISION	3.00	1,958,000.00	11-01-2019
30104401	CAMERON UNIVERSITY	3.00	305,000.00	4-01-2007
30104604	CARNEGIE MELLON	3.00	90,000.00	5-01-2009
30104605	CARNEGIE MELLON	3.00	695,000.00	11-01-2017

4

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
April
30104702	CARROLL COLLEGE	3.75	230,000.00	6-01-2014
30104703	CARROLL COLLEGE	3.00	118,992.19	6-01-2018
30104801	CARROLL COLLEGE - DORM BOND 1965	3.75	274,000.00	3-01-2015
30105101	CATAWBA COLLEGE	3.00	88,000.00	12-01-2009
30105404	CENTRAL MISSOURI STATE	3.00	245,000.00	7-01-2007
30105701	CHAMPLAIN COLLEGE, INC.	3.00	90,079.44	12-01-2013
30106702	COLLEGE OF SAINT ROSE	3.00	705,471.33	5-01-2022
30106802	COLLEGE OF ST. THOMAS	3.00	222,000.00	11-01-2009
30106904	COLLEGE OF SANTA FE	3.00	435,000.00	10-01-2018
30107002	COLLEGE OF THE HOLY CROSS	3.63	610,000.00	10-01-2013
30107003	COLLEGE OF THE HOLY CROSS	3.00	110,000.00	10-01-2006
30107701	CONCORDIA COLLEGE	3.00	525,000.00	5-01-2019
30108101	CUMBERLAND COLLEGE	3.00	228,000.00	8-01-2017
30108202	DAEMEN COLLEGE(ROSARY HILL COLLEGE)	3.00	400,000.00	4-01-2016
30108301	DAKOTA WESLEYAN UNIVERSITY	3.00	145,000.00	10-01-2015
30108801	DILLARD UNIVERSITY	3.00	38,000.00	4-01-2008
30109301	DOWLING COLLEGE	3.00	267,000.00	10-01-2010
30109502	DREXEL UNIVERSITY	3.50	720,000.00	5-01-2014
30109604	DRURY COLLEGE	3.00	176,000.00	4-01-2015
30109605	DRURY COLLEGE	3.00	216,000.00	10-01-2010
30109801	DYOURVILLE COLLEGE	3.00	749,535.00	4-01-2018
30110101	ELIZABETH CITY STATE UNIVERSITY	3.00	270,000.00	10-01-2017
30110301	EMBRY RIDDLE AERONAUTICAL UNIV.	3.00	125,000.00	9-01-2007
30110401	EMMANUEL COLLEGE	3.00	101,000.00	11-01-2013
30110802	FAIRLEIGH DICKINSON UNIV	3.00	1,190,000.00	11-01-2017
30111202	FLORIDA ATLANTIC UNIVERSITY-SER A	3.00	50,000.00	7-01-2006
30111301	FLORIDA INSTITUTE OF TECHNOLOGY	3.00	80,000.00	11-01-2009
30111603	FT HAYES STATE UNIVERSITY	3.00	40,000.00	10-01-2007
30111802	GANNON UNIV. - DORM BOND 1969, SER A	3.00	379,999.98	11-01-2011
30111803	GANNON UNIVERSITY	3.00	161,490.00	12-01-2022
30112002	GEORGE FOX COLLEGE	3.00	556,507.19	7-01-2018
30112202	GEORGETOWN COLLEGE	3.00	165,000.00	12-01-2008
30112203	GEORGETOWN COLLEGE	3.00	355,000.00	12-01-2009
30112301	GEORGETOWN UNIVERSITY	3.00	2,175,000.00	11-01-2020
30112302	GEORGETOWN UNIVERSITY	4.00	5,665,000.00	11-01-2020
30112901	HAMPSHIRE COLLEGE	3.00	225,714.79	7-01-2013
30112902	HAMPSHIRE COLLEGE	3.00	834,781.86	2-01-2014
30113601	HINDS JUNIOR COLLEGE	3.00	1,019,000.00	4-01-2013
30113702	HIWASSEE COLLEGE	3.00	143,080.76	9-15-2018
30113801	HOFSTRA UNIVERSITY	3.00	1,088,964.62	11-01-2012
30114001	HOOD COLLEGE	3.63	185,000.00	11-01-2014
30114201	HUSTON-TILLOTSON COLLEGE - DORM 1964	3.50	230,000.00	4-01-2014
30114302	HUNTINGDON COLLEGE - DORM 1968	3.00	90,000.00	10-01-2008
30114801	INTER AMERICAN UNIVERSITY OF PUERTO RICO	3.00	24,000.00	9-01-2007
30114802	INTER-AMERICAN UNIV. OF PUERTO RICO	3.00	1,662,070.94	1-01-2017
30115001	JAMES MADISON UNIVERSITY	3.00	715,000.00	6-01-2009
30115901	LA GRANGE COLLEGE	3.00	105,000.00	3-01-2009

5

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
April
30116201	LASSEN JUNIOR COLLEGE	3.00	339,000.00	4-01-2020
30116801	LINFIELD COLLEGE - HALL BONDS 1968	3.00	59,000.00	10-01-2017
30116904	LONG ISLAND UNIVERSITY	3.00	280,948.50	11-01-2009
30117002	LONG ISLAND UNIVERSITY	3.63	360,000.00	6-01-2014
30117204	LA. STATE UNIV. 1965 BOND SER B	3.00	38,000.00	7-01-2005
30117205	LA. STATE UNIV. 1966 BOND SER C	3.00	15,000.00	7-01-2006
30117402	LYCOMING COLLEGE	3.63	145,000.00	5-01-2014
30117403	LYCOMING COLLEGE	3.75	204,999.99	5-01-2015
30117501	LYNCHBURG COLLEGE	3.75	308,000.00	5-01-2015
30117502	LYNCHBURG COLLEGE	3.00	450,000.00	5-01-2018
30117602	MACALESTER COLLEGE	3.00	329,650.16	5-01-2020
30117801	MARIAN COLLEGE OF FOND DU LAC	3.00	375,000.00	10-01-2016
30118302	MARY BALDWIN COLLEGE	3.38	208,000.00	5-01-2012
30118401	MARYMOUNT UNIVERSITY	3.00	405,000.00	5-01-2016
30119001	SLOAN-MEMORIAL KETTERING CANCER CENTER	3.38	504,000.00	4-01-2012
30119202	MERCER UNIV. ACCOUNTING OFFICE	3.00	286,714.08	5-01-2014
30119801	MILLSAPS COLLEGE	3.00	456,000.00	11-01-2021
30119903	MISSISSIPPI STATE UNIVERSITY	3.00	1,165,000.00	12-01-2020
30120402	MORAVIAN COLLEGE	3.38	130,000.00	11-01-2012
30120501	MOREHOUSE COLLEGE	3.00	449,999.50	7-01-2010
30120601	MORGAN STATE UNIVERSTIY	3.00	1,382,597.27	11-01-2014
30120705	MORRIS BROWN COLLEGE	3.00	910,000.00	5-01-2018
30120801	MORRIS COLLEGE	3.00	252,000.00	11-01-2009
30121101	NEW ENGLAND COLLEGE	3.00	102,000.00	4-01-2016
30121201	NEWARK BETH ISREAL MEDICAL CENTER	3.63	395,000.00	1-01-2014
30121501	NORFOLK STATE UNIVERSITY	3.00	2,202,708.12	12-01-2021
30122302	NORTHEASTERN UNIVERSITY	3.00	2,147,250.15	5-01-2018
30122802	OCCIDENTAL COLLEGE	3.00	208,000.00	10-01-2019
30123401	PAINE COLLEGE	3.00	645,999.99	10-01-2016
30123701	UNIVERSITY OF THE ARTS	3.00	1,867,448.44	1-01-2022
30124901	RANDOLPH MACON COLLEGE	3.00	120,000.00	5-01-2010
30125102	REGIS COLLEGE	3.00	300,000.00	11-01-2012
30125504	RIDER COLLEGE	3.63	1,115,000.00	11-01-2013
30125506	RIDER COLLEGE	3.00	297,000.00	5-01-2017
30125601	RIO GRANDE COLLEGE	3.00	30,500.18	3-30-2009
30126102	RUTGERS, THE STATE UNIVERSITY	3.75	450,000.00	5-01-2016
30127402	ST MARY’S COLLEGE	3.00	315,000.00	6-01-2020
30127602	SAINT MICHAELS COLLEGE	3.00	1,089,061.82	5-01-2013
30127703	SAINT NORBERT COLLEGE	3.00	44,000.00	4-01-2007
30127801	SAINT PAULS COLLEGE	3.00	317,559.01	11-01-2014
30128001	SAINT VINCENT COLLEGE	3.50	355,000.00	5-01-2013
30128301	CALIFORNIA STATE COLLEGES	3.00	125,000.00	11-01-2006
30128401	UNIVERSITY OF ILLINOIS	3.00	840,000.00	11-01-2018
30128602	SEATTLE UNIVERSITY - 1967 PHYS ED	3.00	174,000.00	11-01-2008
30128802	SETON HILL COLLEGE	3.63	218,000.00	11-01-2014
30129101	SIMPSON COLLEGE - BOND 1966	3.00	222,000.00	7-01-2016
30129402	SOUTHEAST MISSOURI STATE UNIV(ESCROW)	3.00	71,000.00	4-01-2007

6

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
April
30129802	SOUTHERN METHODIST UNIVERSITY	3.00	138,000.00	10-01-2007
30130301	SOUTHWEST TEXAS STATE UNIVERSITY	3.00	1,570,000.00	10-01-2015
30130502	SPALDING UNIVERSITY	3.00	66,000.00	9-01-2007
30130703	SPRINGFIELD COLLEGE	3.50	248,000.00	5-01-2013
30130903	STEPHEN F AUSTIN STATE UNIVERSITY	3.38	1,107,000.00	10-01-2012
30131702	TALLADEGA COLLEGE	3.00	262,000.00	12-01-2012
30132002	TAYLOR UNIVERSITY	3.00	158,000.00	10-01-2012
30132003	TAYLOR UNIVERSITY	3.00	501,000.00	10-01-2013
30132301	TEXAS A & I UNIV-BLDG SYS SER 1969A	3.00	281,000.00	7-01-2009
30132402	TEXAS SOUTHERN UNIVERSITY	3.50	280,000.00	4-01-2013
30132601	TRANSYLVANIA UNIVERSITY	3.00	222,000.00	11-01-2010
30132904	TUFTS UNIVERSITY	3.00	1,813,000.00	10-01-2021
30133201	UNIV STUDENT COOP HOUSING	3.00	1,120,000.00	4-01-2019
30133301	UNIVERSITY OF ALABAMA	3.00	645,000.00	11-01-2008
30134002	ARKANSAS STATE TEACHERS COLLEGE	3.00	78,000.00	4-01-2005
30134101	UNIVERSITY OF CENTRAL FLORIDA	3.00	130,000.00	10-01-2007
30134304	UNIVERSITY OF DELAWARE	3.00	170,000.00	11-01-2006
30134305	UNIVERSITY OF DELAWARE	3.00	489,000.00	12-01-2018
30134402	UNIVERSITY OF FLORIDA / REV. CERTS.,84	3.00	1,450,000.00	7-01-2014
30135701	UNIVERSITY OF NORTH CAROLINA	3.00	145,000.00	1-01-2008
30135702	UNIVERSITY OF NORTH CAROLINA	3.00	5,000.00	1-01-2007
30136002	UNIVERSITY OF PUERTO RICO	3.00	929,000.00	6-01-2011
30136801	UNIVERSITY OF ST THOMAS	3.00	491,000.00	10-01-2019
30136901	UNIV OF STEUBENVILLE	3.13	133,000.00	4-01-2010
30137501	UTICA COLLEGE OF SYRACUSE	3.00	212,000.00	11-01-2009
30137701	VERMONT STATE COLLEGE	3.00	160,000.00	6-01-2008
30137702	VERMONT STATE COLLEGE	3.00	165,000.00	7-01-2014
30137802	VILLANOVA UNIVERSITY	3.00	835,000.00	4-01-2019
30137901	VINCENNES UNIVERSITY	3.00	3,060,000.00	6-01-2023
30138001	VIRGINIA COMMONWEALTH	3.00	1,366,999.99	6-01-2011
30138101	VIRGINIA WESELAN COLLEGE	3.00	126,000.00	11-01-2009
30138102	VIRGINA ST WESELEYAN COLLEGE	3.00	94,000.00	11-01-2010
30138702	WESLEY COLLEGE	3.38	117,000.00	5-01-2013
30139001	WEST VALLEY COLLEGE	3.00	150,000.00	4-01-2009
30140003	WHEATON COLLEGE	3.50	465,000.00	4-01-2013
30140102	WHEELING COLLEGE	3.00	20,000.00	11-01-2007
30140201	WHEELOCH COLLEGE	3.00	11,251.88	5-01-2011
30140502	WITTENBERG UNIVERSITY	3.00	480,000.00	5-01-2015
30140503	WITTENBERG UNIVERSITY	3.00	170,000.00	11-01-2017
30140601	THE COLLEGE OF WOOSTER	3.00	14,503.60	3-30-2009
30141001	YORK HOSPITAL	3.00	262,000.00	5-01-2020
	TOTALS:		76,878,741.10
June
30100102	ALABAMA AGRICULTURAL	3.00	75,000.00	7-01-2005

7

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
April
30100103	ALABAMA AGRICULTURAL	3.00	1,285,000.00	5-01-2018
30100201	ALBION COLLEGE	3.00	48,000.00	10-01-2009
30100301	ALBRIGHT COLLEGE	3.00	348,000.00	11-01-2015
30101601	AUBURN UNIVERSITY	3.00	1,555,000.00	12-01-2018
30101701	AZUSA PACIFIC UNIVERSITY	3.75	134,000.00	4-01-2015
30102603	BENEDICT COLLEGE	3.00	84,000.00	11-01-2006
30102604	BENEDICT COLLEGE	3.00	1,389,000.00	11-01-2020
30102802	BETHANY COLLEGE - DORM BOND 1965	3.38	166,000.00	11-01-2012
30102803	BETHANY COLLEGE - HALL BOND 1967	3.00	200,000.00	11-01-2017
30102804	BETHANY COLLEGE - NOTE OF 1973	3.00	285,000.00	11-01-2012
30103302	BRANDEIS UNIVERSITY	3.00	141,860.32	11-01-2011
30103901	CALIFORNIA STATE COLLEGES	3.00	250,000.00	11-01-2007
30104001	CALIFORNIA STATE UNIVERSITY,	3.00	50,000.00	11-01-2006
30104102	CALIFORNIA STATE UNIVERSITY,	3.00	745,000.00	11-01-2013
30104201	TRUST SERVICES DIVISION	3.00	1,958,000.00	11-01-2019
30104401	CAMERON UNIVERSITY	3.00	305,000.00	4-01-2007
30104604	CARNEGIE MELLON	3.00	90,000.00	5-01-2009
30104605	CARNEGIE MELLON	3.00	695,000.00	11-01-2017
30104702	CARROLL COLLEGE	3.75	208,000.00	6-01-2014
30104703	CARROLL COLLEGE	3.00	115,034.08	6-01-2018
30104801	CARROLL COLLEGE - DORM BOND 1965	3.75	274,000.00	3-01-2015
30105101	CATAWBA COLLEGE	3.00	88,000.00	12-01-2009
30105404	CENTRAL MISSOURI STATE	3.00	245,000.00	7-01-2007
30105701	CHAMPLAIN COLLEGE, INC.	3.00	90,079.44	12-01-2013
30106702	COLLEGE OF SAINT ROSE	3.00	705,471.33	5-01-2022
30106802	COLLEGE OF ST. THOMAS	3.00	222,000.00	11-01-2009
30106904	COLLEGE OF SANTA FE	3.00	435,000.00	10-01-2018
30107002	COLLEGE OF THE HOLY CROSS	3.63	610,000.00	10-01-2013
30107003	COLLEGE OF THE HOLY CROSS	3.00	110,000.00	10-01-2006
30107701	CONCORDIA COLLEGE	3.00	525,000.00	5-01-2019
30108101	CUMBERLAND COLLEGE	3.00	228,000.00	8-01-2017
30108202	DAEMEN COLLEGE(ROSARY HILL COLLEGE)	3.00	400,000.00	4-01-2016
30108301	DAKOTA WESLEYAN UNIVERSITY	3.00	145,000.00	10-01-2015
30108801	DILLARD UNIVERSITY	3.00	38,000.00	4-01-2008
30109301	DOWLING COLLEGE	3.00	267,000.00	10-01-2010
30109502	DREXEL UNIVERSITY	3.50	720,000.00	5-01-2014
30109604	DRURY COLLEGE	3.00	176,000.00	4-01-2015
30109605	DRURY COLLEGE	3.00	216,000.00	10-01-2010
30109801	DYOURVILLE COLLEGE	3.00	749,535.00	4-01-2018
30110101	ELIZABETH CITY STATE UNIVERSITY	3.00	270,000.00	10-01-2017
30110301	EMBRY RIDDLE AERONAUTICAL UNIV.	3.00	125,000.00	9-01-2007
30110401	EMMANUEL COLLEGE	3.00	101,000.00	11-01-2013
30110802	FAIRLEIGH DICKINSON UNIV	3.00	1,190,000.00	11-01-2017
30111202	FLORIDA ATLANTIC UNIVERSITY-SER A	3.00	50,000.00	7-01-2006
30111301	FLORIDA INSTITUTE OF TECHNOLOGY	3.00	80,000.00	11-01-2009
30111603	FT HAYES STATE UNIVERSITY	3.00	40,000.00	10-01-2007
30111802	GANNON UNIV. - DORM BOND 1969, SER A	3.00	379,999.98	11-01-2011

8

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
April
30111803	GANNON UNIVERSITY	3.00	157,814.17	12-01-2022
30112002	GEORGE FOX COLLEGE	3.00	556,507.19	7-01-2018
30112202	GEORGETOWN COLLEGE	3.00	165,000.00	12-01-2008
30112203	GEORGETOWN COLLEGE	3.00	355,000.00	12-01-2009
30112301	GEORGETOWN UNIVERSITY	3.00	2,175,000.00	11-01-2020
30112302	GEORGETOWN UNIVERSITY	4.00	5,665,000.00	11-01-2020
30112901	HAMPSHIRE COLLEGE	3.00	225,714.79	7-01-2013
30112902	HAMPSHIRE COLLEGE	3.00	834,781.86	2-01-2014
30113601	HINDS JUNIOR COLLEGE	3.00	1,019,000.00	4-01-2013
30113702	HIWASSEE COLLEGE	3.00	143,080.76	9-15-2018
30113801	HOFSTRA UNIVERSITY	3.00	1,088,964.62	11-01-2012
30114001	HOOD COLLEGE	3.63	185,000.00	11-01-2014
30114201	HUSTON-TILLOTSON COLLEGE - DORM 1964	3.50	230,000.00	4-01-2014
30114302	HUNTINGDON COLLEGE - DORM 1968	3.00	90,000.00	10-01-2008
30114801	INTER AMERICAN UNIVERSITY OF PUERTO RICO	3.00	24,000.00	9-01-2007
30114802	INTER-AMERICAN UNIV. OF PUERTO RICO	3.00	1,662,070.94	1-01-2017
30115001	JAMES MADISON UNIVERSITY	3.00	545,000.00	6-01-2009
30115901	LA GRANGE COLLEGE	3.00	105,000.00	3-01-2009
30116201	LASSEN JUNIOR COLLEGE	3.00	339,000.00	4-01-2020
30116801	LINFIELD COLLEGE - HALL BONDS 1968	3.00	59,000.00	10-01-2017
30116904	LONG ISLAND UNIVERSITY	3.00	280,948.50	11-01-2009
30117002	LONG ISLAND UNIVERSITY	3.63	325,000.00	6-01-2014
30117204	LA. STATE UNIV. 1965 BOND SER B	3.00	38,000.00	7-01-2005
30117205	LA. STATE UNIV. 1966 BOND SER C	3.00	15,000.00	7-01-2006
30117402	LYCOMING COLLEGE	3.63	145,000.00	5-01-2014
30117403	LYCOMING COLLEGE	3.75	204,999.99	5-01-2015
30117501	LYNCHBURG COLLEGE	3.75	308,000.00	5-01-2015
30117502	LYNCHBURG COLLEGE	3.00	450,000.00	5-01-2018
30117602	MACALESTER COLLEGE	3.00	329,650.16	5-01-2020
30117801	MARIAN COLLEGE OF FOND DU LAC	3.00	375,000.00	10-01-2016
30118302	MARY BALDWIN COLLEGE	3.38	208,000.00	5-01-2012
30118401	MARYMOUNT UNIVERSITY	3.00	405,000.00	5-01-2016
30119001	SLOAN-MEMORIAL KETTERING CANCER CENTER	3.38	504,000.00	4-01-2012
30119202	MERCER UNIV. ACCOUNTING OFFICE	3.00	286,714.08	5-01-2014
30119801	MILLSAPS COLLEGE	3.00	456,000.00	11-01-2021
30119903	MISSISSIPPI STATE UNIVERSITY	3.00	1,165,000.00	12-01-2020
30120402	MORAVIAN COLLEGE	3.38	130,000.00	11-01-2012
30120501	MOREHOUSE COLLEGE	3.00	449,999.50	7-01-2010
30120601	MORGAN STATE UNIVERSTIY	3.00	1,382,597.27	11-01-2014
30120801	MORRIS COLLEGE	3.00	252,000.00	11-01-2009
30121101	NEW ENGLAND COLLEGE	3.00	102,000.00	4-01-2016
30121201	NEWARK BETH ISREAL MEDICAL CENTER	3.63	395,000.00	1-01-2014
30121501	NORFOLK STATE UNIVERSITY	3.00	2,148,571.96	12-01-2021
30122302	NORTHEASTERN UNIVERSITY	3.00	2,147,250.15	5-01-2018
30122802	OCCIDENTAL COLLEGE	3.00	208,000.00	10-01-2019
30123401	PAINE COLLEGE	3.00	645,999.99	10-01-2016
30123701	UNIVERSITY OFTHE ARTS	3.00	1,867,448.44	1-01-2022

9

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
April
30124901	RANDOLPH MACON COLLEGE	3.00	120,000.00	5-01-2010
30125102	REGIS COLLEGE	3.00	300,000.00	11-01-2012
30125504	RIDER COLLEGE	3.63	1,115,000.00	11-01-2013
30125506	RIDER COLLEGE	3.00	297,000.00	5-01-2017
30125601	RIO GRANDE COLLEGE	3.00	30,500.18	3-30-2009
30126102	RUTGERS, THE STATE UNIVERSITY	3.75	450,000.00	5-01-2016
30127402	ST MARY’S SCHOOL	3.00	306,000.00	6-01-2020
30127602	SAINT MICHAELSCOLLEGE	3.00	1,089,061.82	5-01-2013
30127703	SAINT NORBERT COLLEGE	3.00	44,000.00	4-01-2007
30127801	SAINT PAULS COLLEGE	3.00	317,559.01	11-01-2014
30128001	SAINT VINCENT COLLEGE	3.50	355,000.00	5-01-2013
30128301	CALIFORNIA STATE COLLEGES	3.00	125,000.00	11-01-2006
30128401	UNIVERSITY OF ILLINOIS	3.00	840,000.00	11-01-2018
30128602	SEATTLE UNIVERSITY - 1967 PHYS ED	3.00	174,000.00	11-01-2008
30128802	SETON HILL COLLEGE	3.63	218,000.00	11-01-2014
30129101	SIMPSON COLLEGE - BOND 1966	3.00	222,000.00	7-01-2016
30129402	SOUTHEAST MISSOURI STATE UNIV(ESCROW)	3.00	71,000.00	4-01-2007
30129802	SOUTHERN METHODIST UNIVERSITY	3.00	138,000.00	10-01-2007
30130301	SOUTHWEST TEXAS STATE UNIVERSITY	3.00	1,570,000.00	10-01-2015
30130502	SPALDING UNIVERSITY	3.00	66,000.00	9-01-2007
30130703	SPRINGFIELD COLLEGE	3.50	248,000.00	5-01-2013
30130903	STEPHEN F AUSTIN STATE UNIVERSITY	3.38	1,107,000.00	10-01-2012
30132002	TAYLOR UNIVERSITY	3.00	158,000.00	10-01-2012
30132003	TAYLOR UNIVERSITY	3.00	501,000.00	10-01-2013
30132301	TEXAS A & I UNIV-BLDG SYS SER 1969A	3.00	281,000.00	7-01-2009
30132402	TEXAS SOUTHERN UNIVERSITY	3.50	280,000.00	4-01-2013
30132601	TRANSYLVANIA UNIVERSITY	3.00	222,000.00	11-01-2010
30132904	TUFTS UNIVERSITY	3.00	1,813,000.00	10-01-2021
30133201	UNIV STUDENT COOP HOUSING	3.00	1,120,000.00	4-01-2019
30133301	UNIVERSITY OF ALABAMA	3.00	645,000.00	11-01-2008
30134002	ARKANSAS STATE TEACHERS COLLEGE	3.00	78,000.00	4-01-2005
30134101	UNIVERSITY OF CENTRAL FLORIDA	3.00	130,000.00	10-01-2007
30134304	UNIVERSITY OF DELAWARE	3.00	170,000.00	11-01-2006
30134305	UNIVERSITY OF DELAWARE	3.00	474,000.00	12-01-2018
30134402	UNIVERSITY OF FLORIDA / REV. CERTS.,84	3.00	1,305,000.00	7-01-2014
30135701	UNIVERSITY OF NORTH CAROLINA	3.00	145,000.00	1-01-2008
30135702	UNIVERSITY OF NORTH CAROLINA	3.00	5,000.00	1-01-2007
30136002	UNIVERSITY OF PUERTO RICO	3.00	789,000.00	6-01-2011
30136801	UNIVERSITY OF ST THOMAS	3.00	491,000.00	10-01-2019
30136901	UNIV OF STEUBENVILLE	3.13	133,000.00	4-01-2010
30137501	UTICA COLLEGE OF SYRACUSE	3.00	212,000.00	11-01-2009
30137701	VERMONT STATE COLLEGE	3.00	110,000.00	6-01-2008
30137702	VERMONT STATE COLLEGE	3.00	165,000.00	7-01-2014
30137802	VILLANOVA UNIVERSITY	3.00	835,000.00	4-01-2019
30137901	VINCENNES UNIVERSITY	3.00	2,930,000.00	6-01-2023
30138001	VIRGINIA COMMONWEALTH	3.00	1,156,999.99	6-01-2011
30138101	VIRGINIA WESELAN COLLEGE	3.00	126,000.00	11-01-2009

10

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
April
30138102	VIRGINA ST WESELEYAN COLLEGE	3.00	94,000.00	11-01-2010
30138702	WESLEY COLLEGE	3.38	117,000.00	5-01-2013
30139001	WEST VALLEY COLLEGE	3.00	150,000.00	4-01-2009
30140003	WHEATON COLLEGE	3.50	465,000.00	4-01-2013
30140102	WHEELING COLLEGE	3.00	20,000.00	11-01-2007
30140201	WHEELOCH COLLEGE	3.00	11,251.88	5-01-2011
30140502	WITTENBERG UNIVERSITY	3.00	480,000.00	5-01-2015
30140503	WITTENBERG UNIVERSITY	3.00	170,000.00	11-01-2017
30140601	THE COLLEGE OF WOOSTER	3.00	14,503.60	3-30-2009
30141001	YORK HOSPITAL	3.00	262,000.00	5-01-2020
	TOTALS:		74,718,971.00

11

GMAC Commercial Mortgage

College and University Loan Trust II

Delinquency Report (60+ Days)

For Quarter ending June 30, 2006

GMACCM Loan Number	Borrower Name	Next Payment Due	P and I Due	Current UPB
30108301	DAKOTA WESLEY	4-01-2004	28,400.00	145,000.00
30133201	UNIVERSITY STU COOP	4-01-2004	210,525.00	1,325,000.00
30104801	CARROLL COLLE	9-01-2004	41,775.00	324,000.00
30107601	CONCORDIA COLLEGE	10-01-2004	18,730.00	66,000.00
30134002	UNIV CENTR AR	10-01-2004	80,805.00	78,000.00
30131702	TALLADEGA COL	06-01-2005	33,705.00	265,895.00
30100102	ALAMBAMA AGRICULTURE	01-01-2006	1,125.00	75,000.00
30117204	LOUISIANA STATE	01-01-2006	570.00	38,000.00
30120705	MORRIS BROWN	05-01-2006	73,650.00	910,000.00
30127801	ST PAULS COLL	05-01-2006	20,262.09	317,559.01
TOTAL:			509,547.09	3,544,454.01

GMAC Commercial Mortgage

College and University Loan Trust II

Liquidation Report

For Quarter ending June 30, 2006

None to report for this period

GMAC Commercial Mortgage

College and University Loan Trust II

Remittance Report for December 2005

Date Received	Date Due	GMACCM Number	Borrower Name	Principal Due	Interest Due	Total Due	Principal Balance	Principal Paid	Interest Paid	Suspense		Total Paid		Net System Credits		Total Bank Credits	First Chicago Wires	ACH Debits and Other Wires
20051201	12012005	30101601	AUBURN UNIVERSITY	95,000.00	24,750.00	119,750.00	1,650,000.00	95,000.00	24,750.00	0.00		119,750.00
20051201	12012005	30104702	CARROLL COLLEGE	—	4,312.50	4,312.50	230,000.00	—	4,312.50	—		4,312.50
20051201	12012005	30105701	CHAMPLAIN COLLEGE, INC.	5,241.33	1,509.60	6,750.93	100,640.71	5,241.33	1,509.60	—		6,750.93
20051201	12012005	30112202	GEORGETOWN COLLEGE	53,000.00	3,270.00	56,270.00	218,000.00	53,000.00	3,270.00	—		56,270.00
20051201	12012005	30112203	GEORGETOWN COLLEGE	85,000.00	6,600.00	91,600.00	440,000.00	85,000.00	6,600.00	—		91,600.00
20051201	12012005	30115001	JAMES MADISON UNIVERSITY	—	10,725.00	10,725.00	715,000.00	—	10,725.00	—		10,725.00
20051201	12012005	30117002	LONG ISLAND UNIVERSITY	—	6,525.00	6,525.00	360,000.00	—	6,525.00	—		6,525.00
20051201	12012005	30121501	NORFOLK STATE UNIVERSITY	53,336.12	33,840.66	87,176.78	2,256,044.24	53,336.12	33,840.66	—		87,176.78
20051201	12012005	30136002	UNIVERSITY OF PUERTO RICO	—	13,935.00	13,935.00	929,000.00	—	13,935.00	—		13,935.00
20051201	12012005	30138001	VIRGINIA COMMONWEALTH	—	20,505.00	20,505.00	1,366,999.99	—	20,505.00	—		20,505.00
System Credits 12/1/05														417,550.21
System Debits
Bank Credit 12/1/05																6,098.18
Bank Debit
Trustee Wire 12/1/05																	6,098.18
20051202	12012005	30104703	CARROLL COLLEGE	3,899.62	1,843.37	5,742.99	122,891.81	3,899.62	1,843.37	0.00		5,742.99
20051202	0	30122701	NOVA UNIVERSITY					0.00	0.00	137,025.00		137,025.00
20051202	12012005	30127402	ST MARY’S COLLEGE	9,000.00	4,860.00	13,860.00	324,000.00	9,000.00	4,860.00	0.00		13,860.00
20051202	12012005	30134305	UNIVERSITY OF DELAWARE	15,000.00	7,560.00	22,560.00	504,000.00	15,000.00	7,560.00	0.00		22,560.00
20051202	12012005	30137901	VINCENNES UNIVERSITY	—	45,900.00	45,900.00	3,060,000.00	0.00	45,900.00	0.00		45,900.00
System Credits 12/1/05														225,087.99
System Debits
Bank Credit 12/2/05																417,550.21
Bank Debit
Trustee Wire 12/2/05																	417,550.21
System Credits
System Debits
Bank Credit 12/5/05																137,025.00
Bank Credit 12/5/05																88,062.99
Bank Debit
Trustee Wire 12/5/05																	225,087.99
20051206	0	30122701	NOVA UNIVERSITY					—	—	(137,025.00	)	(137,025.00	)
20051206	0	30122701	NOVA UNIVERSITY	45,000.00	2,025.00	47,025.00	135,000.00	135,000.00	2,025.00	—		137,025.00
System Credits 12/6/05														137,025.00
System Debits 12/6/05														(137,025.00	)
Bank Credit
Bank Credit
Bank Debit
Trustee Wire
System Credits
System Debits
Bank Credit 12/7/05																137,025.00
Bank Debit 12/7/05																		137,025.00
Trustee Wire
20051212	0	30116601	LENOIR RHYNE COLLEGE					—	—	44,660.00		44,660.00
System Credits 12/12/05														44,660.00
System Debits
Bank Credit
Bank Debit
Trustee Wire
20051213	12012005	30119903	MISSISSIPPI STATE UNIVERSITY	65,000.00	18,450.00	83,450.00	1,230,000.00	65,000.00	18,450.00	—		83,450.00
20051213	11012005	30120705	MORRIS BROWN COLLEGE					—	13,650.00	—		13,650.00
20051213	11012005	30120706	MORRIS BROWN COLLEGE					—	3,000.00	—		3,000.00
20051213	12012005	30137701	VERMONT STATE COLLEGE	—	2,400.00	2,400.00	160,000.00	—	2,399.98	—		2,399.98
20051213	6012006	30137701	VERMONT STATE COLLEGE					—	0.02	—		0.02
System Credits 12/13/05														102,500.00
System Debits
Bank Credit 12/13/05																44,660.00
Bank Debit 12/13/05 (Nov. 05 Service Fees)																		15,024.37
Trustee Wire 12/13/05																	29,635.63
System Credits
System Debits
Bank Credit 12/14/05																102,500.00
Bank Debit
Trustee Wire 12/14/05																	102,500.00
20051219	0	30116601	LENOIR RHYNE COLLEGE					0.00	0.00	-44,660.00		(44,660.00	)
20051219	0	30116601	LENOIR RHYNE COLLEGE	25,000.00	660.00	25,660.00	44,000.00	44,000.00	660.00	0.00		44,660.00
System Credits 12/19/05														44,660.00
System Debits 12/19/05														(44,660.00	)

1

Date Received	Date Due	GMACCM Number	Borrower Name	Principal Due	Interest Due	Total Due	Principal Balance	Principal Paid	Interest Paid	Suspense	Total Paid	Net System Credits	Total Bank Credits	First Chicago Wires	ACH Debits and Other Wires
Bank Credit
Bank Debit
Trustee Wire
System Credits
System Debits
Bank Credit 12/20/05													44,660.00
Bank Debit 12/20/05															44,660.00
Trustee Wire
20051227	0	30138302	WARTBURG COLLEGE ACCT#WART465CD					87,000.00	1,631.25	0.00	88,631.25
20051227	0	30138302	WARTBURG COLLEGE ACCT#WART465CD					—	870.00	—	870.00
20051227	12272005	30138302	WARTBURG COLLEGE ACCT#WART465CD					—	—	—	—
System Credits 12/27/05												89,501.25
System Debits
Bank Credit
Bank Debit
Trustee Wire
20051228	1012006	30112002	GEORGE FOX COLLEGE					9,299.97	4,313.83	0.00	13,613.80
System Credits 12/28/05												13,613.80
System Debits
Bank Credit 12/28/05													89,501.25
Bank Debit
Trustee Wire 12/28/05														89,501.25
System Credits
System Debits
Bank Credit 12/29/05													13,613.80
Bank Debit
Trustee Wire 12/29/05														13,613.80
20051230	1012006	30112901	HAMPSHIRE COLLEGE					13,330.40	3,585.68	0.00	16,916.08
20051230	1012006	30114802	INTER-AMERICAN UNIV. OF PUERTO RICO					66,863.19	25,934.01	0.00	92,797.20
System Credits 12/30/05												109,713.28
System Debits
Bank Credit
Bank Debit
Trustee Wire
			TOTALS:	454,477.07	209,671.13	664,148.20	13,845,576.75	739,970.63	262,655.90	—	1,002,626.53	1,002,626.53	1,080,696.43	883,987.06	196,709.37
Loans Due in Current Period and Paid in Prior Period:
11-28-05	12-01-05	30105101	CATAWBA COLLE	12,000.00	1,695.00	13,695.00	113,000.00
08-04-05	12-01-05	30106401	COKER COLLEGE	14,000.00	1,080.00	15,080.00	71,999.99
11-30-05	12-01-05	30111803	GANNON UNIVER	3,621.51	2,476.67	6,098.18	165,111.51
11-29-05	12-01-05	30113501	HIGH POINT CO	14,000.00	2,520.00	16,520.00	168,000.00
			TOTALS:	43,621.51	7,771.67	51,393.18	518,111.50
Loans Due in Current Period Not Yet Paid:
	12/1/2005	30131702	TALLADEGA COL	15,000.00	3,705.00	18,705.00	247,000.00
			TOTALS:	15,000.00	3,705.00	18,705.00	247,000.00
			GRAND TOTAL:	513,098.58	221,147.80	734,246.38	14,610,688.25

2

College and University Loan Trust II

Remittance Report Reconciliation

December-05

Total System Credits @ 12/31		1,002,626.53
Total Bank Credits @ 12/31		1,080,696.43
12/01/05	ACH in Transit	(6,098.18	)
12/07/05	Payment Reversal	(137,025.00	)
12/19/05	Payment Reversal	(44,660.00	)
12/30/05	ACH in Transit	109,713.28
Adjusted Bank Credits:		1,002,626.53
		—

GMAC Commercial Mortgage

College and University Loan Trust II

Remittance Report Reconciliation

December-05

Total Bank Credits @ 12/31		1,080,696.43
Total Debits to Trustee@ 12/31		883,987.06
12/07/05	Payment Reversal	137,025.00
12/13/05	Nov. 05 Service Fees	15,024.37
12/20/05	Payment Reversal	44,660.00
Adjusted Debits to Trustee		1,080,696.43
		—

GMAC Commercial Mortgage

College and University Loan Trust II

Remittance Report for January 2006

Date Received	Date Due	GMACCM Number	Borrower Name	Principal Due	Interest Due	Total Due	Principal Balance	Principal Paid	Interest Paid	Suspense	Total Paid	Net System Credits	Total Bank Credits	First Chicago Wires	ACH Debits and Other Wires
20060103	1012006	30111202	FLORIDA ATLANTIC UNIVERSITY-SER A	—	750.00	750.00	50,000.00	0.00	750.00	0.00	750.00
20060103	1012006	30120501	MOREHOUSE COLLEGE	—	6,749.99	6,749.99	449,999.50	—	6,749.99	—	6,749.99
20060103	1012006	30129101	SIMPSON COLLEGE - BOND 1966	—	3,330.00	3,330.00	222,000.00	—	3,330.00	—	3,330.00
20060103	0	30131003	JOHN B. STETSON UNIVERSITY	28,000.00	420.00	28,420.00	28,000.00	28,000.00	—	—	28,000.00
20060103	1012006	30131003	JOHN B. STETSON UNIVERSITY					—	420.00	—	420.00
20060103	1012006	30134402	UNIVERSITY OF FLORIDA / REV. CERTS.,84	—	21,750.00	21,750.00	1,450,000.00		21,750.00	—	21,750.00
20060103	1012006	30135701	UNIVERSITY OF NORTH CAROLINA	70,000.00	3,225.00	73,225.00	215,000.00	70,000.00	3,225.00	—	73,225.00
20060103	1012006	30135702	UNIVERSITY OF NORTH CAROLINA	8,000.00	195.00	8,195.00	13,000.00	8,000.00	195.00	—	8,195.00
System Credits 1/4/06												142,419.99
System Debits
Bank Credit 1/4/06													109,713.28
Bank Debit
Trustee Wire 1/4/06														109,713.28
20060104	1012006	30105404	CENTRAL MISSOURI STATE	—	3,675.00	3,675.00	245,000.00	0.00	3,675.00	0.00	3,675.00
20060104	1012006	30117205	LA. STATE UNIV. 1966 BOND SER C	—	225.00	225.00	15,000.00	0.00	225.00	0.00	225.00
20060104	1012006	30121201	NEWARK BETH ISREAL MEDICAL CENTER	40,000.00	7,884.37	47,884.37	435,000.00	40,000.00	7,884.31	0.00	47,884.31
20060104	7012006	30121201	NEWARK BETH ISREAL MEDICAL CENTER					0.00	0.07	0.00	0.07
System Credits 1/5/06												51,784.38
System Debits
Bank Credit 1/5/06													142,419.99
Bank Debit
Trustee Wire 1/5/06														142,419.99
Bank Credit 1/6/06													51,784.38
Trustee Wire 1/6/06														45,981.73
System Credits
System Debits
Bank Credit
Bank Debit 1/10/06 (Dec 05 Svc Fee)															5,802.65
Trustee Wire
20060111	1012006	30123701	UNIVERSITY OF THE ARTS	45,218.20	28,690.00	73,908.20	1,912,666.64	45,218.20	28,690.00	0.00	73,908.20
20060111	1012006	30132301	TEXAS A & I UNIV-BLDG SYS SER 1969A	—	4,215.00	4,215.00	281,000.00	0.00	4,215.00	0.00	4,215.00
20060111	1012006	30137702	VERMONT STATE COLLEGE	—	2,475.00	2,475.00	165,000.00	0.00	2,475.00	0.00	2,475.00
System Credits												80,598.20
System Debits
Bank Credit 1/12/06
Bank Credit 1/12/06
Bank Debit
Trustee Wire 1/12/06
System Credits
System Debits
Bank Credit 1/13/06													80,598.20
Bank Credit
Bank Debit
Trustee Wire 1/13/06														80,598.20
System Credits
System Debits
Bank Credit 1/30/06													15.02
Bank Debit
Trustee Wire
			TOTALS:	191,218.20	83,584.36	274,802.56	5,481,666.14	191,218.20	83,584.37	—	274,802.57	274,802.57	384,530.87	378,713.20	5,802.65
Loans Due in Current Period and Paid in Prior Period:
11-28-05	12-01-05	30105101	CATAWBA COLLE	12,000.00	1,695.00	13,695.00	113,000.00
08-04-05	12-01-05	30106401	COKER COLLEGE	14,000.00	1,080.00	15,080.00	71,999.99
11-30-05	12-01-05	30111803	GANNON UNIVER	3,621.51	2,476.67	6,098.18	165,111.51
11-29-05	12-01-05	30113501	HIGH POINT CO	14,000.00	2,520.00	16,520.00	168,000.00
12-28-05	1012006	30112002	GEORGE FOX CO	9,299.97	4,313.83	13,613.80	575,176.88
12-30-05	1012006	30112901	HAMPSHIRE COL	13,330.40	3,585.68	16,916.08	239,045.19
12-30-05	1012006	30114802	INTER AMERICA	66,863.19	25,934.01	92,797.20	1,728,934.13
			TOTALS:	133,115.07	41,605.19	174,720.26	3,061,267.70

1

Date Received	Date Due	GMACCM Number	Borrower Name	Principal Due	Interest Due	Total Due	Principal Balance	Principal Paid	Interest Paid	Suspense	Total Paid	Net System Credits	Total Bank Credits	First Chicago Wires	ACH Debits and Other Wires
Loans Due in Current Period Not Yet Paid:
	12/1/2005	30131702	TALLADEGA COL	15,000.00	3,705.00	18,705.00	247,000.00
	1012006	30100102	ALABAMA AGRIC	—	1,125.00	1,125.00	—
	1012006	30117204	LOUISIANA STA	—	570.00	570.00	—
			TOTALS:	15,000.00	5,400.00	20,400.00	247,000.00
			GRAND TOTAL:	339,333.27	130,589.55	469,922.82	8,789,933.84

2

GMAC Commercial Mortgage

College and University Loan Trust II

Remittance Report Reconciliation

January-06

Total Bank Credits @ 1/31	384,530.87
Total Debits to Trustee@ 1/31	378,713.20
Payment Reversal
Jan. 05 Service Fees	5,802.65
Jan. 05 Service Fees	15.02
Adjusted Debits to Trustee	384,530.87
	—

College and University Loan Trust II

Remittance Report Reconciliation

January-06

Total System Credits @ 1/31	274,802.57
Total Bank Credits @ 1/31	384,530.87
ACH in Transit
ACH in Transit	(109,713.28	)
Payment Reversal	(15.02	)
ACH in Transit
Adjusted Bank Credits:	274,802.57
	—

GMAC Commercial Mortgage

College and University Loan Trust II

Remittance Report for February 2006

Date Received	Date Due	GMACCM Number	Borrower Name	Principal Due	Interest Due	Total Due	Principal Balance	Principal Paid	Interest Paid	Suspense		Total Paid		Net System Credits		Total Bank Credits	First Chicago Wires	ACH Debits and Other Wires
20060201	2012006	30108101	CUMBERLAND COLLEGE	0	3420	3420	228000	—	3,420.00	—		3,420.00
20060201	2012006	30112902	HAMPSHIRE COLLEGE	45863.74	13209.68	59073.42	880645.6	45,863.74	13,209.68	—		59,073.42
System Credits 2/2/06														62,493.42
System Debits
Bank Credit 2/2/06																62,493.42
Bank Debit
Trustee Wire 2/2/06																	62,493.42
20060209	0	30128401	UNIVERSITY OF ILLINOIS					0.00	0.00	-450.00		(450.00	)
20060209	5012006	30128401	UNIVERSITY OF ILLINOIS					0.00	450.00	0.00		450.00
System Credits 2/10/06														450.00
System Debits ( Pymt Reversal)														(450.00	)
Bank Credit 2/10/06																450.00
Bank Debit																		450.00
Trustee Wire 2/10/06
			TOTALS:	45,863.74	16,629.68	62,493.42	1,108,645.60	45,863.74	17,079.68	(450.00	)	62,493.42		62,493.42		62,943.42	62,493.42	450.00
Loans Due in Current Period and Paid in Prior Period:
			TOTALS:	—	—	—	—
Loans Due in Current Period Not Yet Paid:
			TOTALS:	—	—	—	—
			GRAND TOTAL:	45,863.74	16,629.68	62,493.42	1,108,645.60

1

College and University Loan Trust II

Remittance Report Reconciliation

February-06

Total System Credits @ 2/28		62,493.42
Total Bank Credits @ 2/28		62,943.42
02/10/06	Payment Reversal	(450.00	)
	ACH in Transit
	Payment Reversal
	ACH in Transit
Adjusted Bank Credits:		62,493.42
		—

GMAC Commercial Mortgage

College and University Loan Trust II

Remittance Report Reconciliation

February-06

Total Bank Credits @ 2/28		62,943.42
Total Debits to Trustee@ 2/28		62,493.42
02/10/06	Payment Reversal	450.00
	Jan. 05 Service Fees
	Jan. 05 Service Fees
Adjusted Debits to Trustee		62,943.42
		—

GMAC Commercial Mortgage

College and University Loan Trust II

Remittance Report for March 2006

Date Received	Date Due	GMACCM Number	Borrower Name	Principal Due	Interest Due	Total Due	Principal Balance	Principal Paid	Interest Paid	Suspense	Total Paid	Net System Credits	Total Bank Credits	First Chicago Wires	ACH Debits and Other Wires
20060301	0	30101102	ANDERSON COLLEGE	35,000.00	525.00	35,525.00	35,000.00	35,000.00	525.00	—	35,525.00
20060301	3012006	30110301	EMBRY RIDDLE AERONAUTICAL UNIV.	—	1,875.00	1,875.00	125,000.00	—	1,875.00	—	1,875.00
20060301	3012006	30115901	LA GRANGE COLLEGE	30,000.00	2,025.00	32,025.00	135,000.00	30,000.00	2,025.00	—	32,025.00
20060301	3012006	30130502	SPALDING UNIVERSITY	—	990.00	990.00	66,000.00	—	990.00	—	990.00
System Credits 3/2/06												70,415.00
System Debits
Bank Credit 3/2/06													70,415.00
Bank Debit 3/3/06 (Jan & Feb 06 Svc Fees)															3,425.08
Trustee Wire 3/2/06														66,989.92
20060307	3012006	30114801	INTER AMERICAN UNIVERSITY OF PUERTO RICO	—	360.00	360.00	24,000.00	0.00	360.00	0.00	360.00
System Credits												360.00
System Debits ( Pymt Reversal)
Bank Credit 3/08/06													720.00
Bank Debit 3/08/06															360.00
Trustee Wire 3/08/06														360.00
20060322	3152006	30113702	HIWASSEE COLLEGE	4,691.42	2,216.58	6,908.00	147,772.18	4,691.42	2,216.58	0.00	6,908.00
System Credits 3/23/06												6,908.00
System Debits
Bank Credit 3/23/06													6,908.00
Bank Debit
Trustee Wire 3/23/06														6,908.00
20060330	0	30111901	GAVILAN COLLEGE					12,000.00	180.00	0.00	12,180.00
20060330	4012006	30139001	WEST VALLEY COLLEGE					50,000.00	3,000.00	0.00	53,000.00
System Credits												65,180.00
System Debits
Bank Credit 3/31/06													65,180.00
Bank Debit 03/31/06
Trustee Wire 3/31/06														65,180.00
20060331	4012006	30113601	HINDS JUNIOR COLLEGE					150,000.00	17,535.00	0.00	167,535.00
20060331	0	30120701	MORRIS BROWN COLLEGE					55,000.00	1,031.25	0.00	56,031.25
20060331	0	30120706	MORRIS BROWN COLLEGE					200,000.00	3,000.00	0.00	203,000.00
20060331	4012006	30130301	SOUTHWEST TEXAS STATE UNIVERSITY					0.00	23,550.00	0.00	23,550.00
System Credits												450,116.25
System Debits
Bank Credit 04/03/06													450,116.25
Bank Debit 04/03/06
Trustee Wire 04/03/06														450,116.25
			TOTALS:	69,691.42	7,991.58	77,683.00	532,772.18	536,691.42	56,287.83	—	592,979.25	592,979.25	593,339.25	589,554.17	3,785.08
Loans Due in Current Period and Paid in Prior Period:
			TOTALS:	—	—	—	—
Loans Due in Current Period Not Yet Paid:
	3012006	30104801	CARROLL COLLE	26,000.00	5,625.00	31,625.00	300,000.00
	3302006	30125601	RIO GRANDE CO	5,083.33	533.75	5,617.08	35,583.51
	3302006	30140601	WOOSTER BUSIN	2,416.60	253.80	2,670.40	16,920.20
			TOTALS:	33,499.93	6,412.55	39,912.48	352,503.71
			GRAND TOTAL:	103,191.35	14,404.13	117,595.48	885,275.89

1

College and University Loan Trust II

Remittance Report Reconciliation

March-06

Total System Credits @ 3/31		592,979.25
Total Bank Credits @ 3/31		593,339.25
03/08/06	Ach Correction	(360.00	)
	ACH in Transit
	Payment Reversal
	ACH in Transit
Adjusted Bank Credits:		592,979.25
		—

GMAC Commercial Mortgage

College and University Loan Trust II

Remittance Report Reconciliation

March-06

Total Bank Credits @ 3/31		593,339.25
Total Debits to Trustee@ 3/31		589,554.17
	Ach Correction	360.00
	Jan. 06 Service Fees	3,009.34
	Feb. 06 Service Fees	415.74
Adjusted Debits to Trustee		593,339.25
		—

GMAC Commercial Mortgage

College and University Loan Trust II

Remittance Report for April 2006

Date Received	Date Due	GMACCM Number	Borrower Name	Principal Due	Interest Due	Total Due	Principal Balance	Principal Paid	Interest Paid	Suspense		Total Paid		Net System Credits		Total Bank Credits	First Chicago Wires	ACH Debits and Other Wires
20060403	4012006	30104401	CAMERON UNIVERSITY	305,000.00	9,150.00	314,150.00	610,000.00	305,000.00	9,150.00	0.00		314,150.00
20060403	4012006	30106904	COLLEGE OF SANTA FE	0.00	6,525.00	6,525.00	435,000.00	0.00	6,525.00	0.00		6,525.00
20060403	4012006	30107002	COLLEGE OF THE HOLY CROSS	0.00	11,056.25	11,056.25	610,000.00	0.00	11,056.25	0.00		11,056.25
20060403	4012006	30107003	COLLEGE OF THE HOLY CROSS	0.00	1,650.00	1,650.00	110,000.00	0.00	1,650.00	0.00		1,650.00
20060403	4012006	30109301	DOWLING COLLEGE	27,000.00	4,410.00	31,410.00	294,000.00	27,000.00	4,410.00	0.00		31,410.00
20060403	4012006	30109604	DRURY COLLEGE	9,000.00	2,775.00	11,775.00	185,000.00	9,000.00	2,775.00	0.00		11,775.00
20060403	4012006	30109605	DRURY COLLEGE	22,000.00	3,570.00	25,570.00	238,000.00	22,000.00	3,570.00	0.00		25,570.00
20060403	4012006	30110101	ELIZABETH CITY STATE UNIVERSITY	0.00	4,050.00	4,050.00	270,000.00	0.00	4,050.00	0.00		4,050.00
20060403	4012006	30111603	FT HAYES STATE UNIVERSITY	0.00	600.00	600.00	40,000.00	0.00	600.00	0.00		600.00
20060403	4012006	30112002	GEORGE FOX COLLEGE	9,369.72	4,244.08	13,613.80	565,876.91	9,369.72	4,244.08	0.00		13,613.80
20060403	4012006	30114201	HUSTON-TILLOTSON COLLEGE - DORM 1964	25,000.00	4,462.50	29,462.50	255,000.00	25,000.00	4,462.50	0.00		29,462.50
20060403	0	30115803	KNOX COLLEGE - DORM BONDS 1966					0.00	0.00	50,750.00		50,750.00
20060403	4012006	30119001	SLOAN-MEMORIAL KETTERING CANCER CENTER	80,000.00	9,855.00	89,855.00	584,000.00	80,000.00	9,855.00	0.00		89,855.00
20060403	4012006	30122802	OCCIDENTAL COLLEGE	0.00	3,120.00	3,120.00	208,000.00	0.00	3,120.00	0.00		3,120.00
20060403	3302006	30125601	RIO GRANDE COLLEGE					5,083.33	533.75	0.00		5,617.08
20060403	4012006	30129402	SOUTHEAST MISSOURI STATE UNIV(ESCROW)	165,000.00	3,540.00	168,540.00	236,000.00	165,000.00	3,540.00	0.00		168,540.00
20060403	4012006	30129802	SOUTHERN METHODIST UNIVERSITY	0.00	2,070.00	2,070.00	138,000.00	0.00	2,070.00	0.00		2,070.00
20060403	4012006	30132002	TAYLOR UNIVERSITY	0.00	2,370.00	2,370.00	158,000.00	0.00	2,370.00	0.00		2,370.00
20060403	4012006	30132402	TEXAS SOUTHERN UNIVERSITY	35,000.00	5,512.50	40,512.50	315,000.00	35,000.00	5,512.50	0.00		40,512.50
20060403	4012006	30136801	UNIVERSITY OF ST THOMAS	0.00	7,365.00	7,365.00	491,000.00	0.00	7,365.00	0.00		7,365.00
20060403	4012006	30136901	UNIV OF STEUBENVILLE	31,000.00	2,562.50	33,562.50	164,000.00	31,000.00	2,562.50	0.00		33,562.50
20060403	4012006	30140003	WHEATON COLLEGE	60,000.00	9,187.50	69,187.50	525,000.00	60,000.00	9,187.50	0.00		69,187.50
System Credits 04/04/06														922,812.13
System Debits
Bank Credit 04/04/06
Bank Debit 04/04/06 (Svc Fees)
Trustee Wire 04/04/06
20060404	4012006	30101701	AZUSA PACIFIC UNIVERSITY	12,000.00	2,737.50	14,737.50	146,000.00	12,000.00	2,737.50	0.00		14,737.50
20060404	4012006	30108202	DAEMEN COLLEGE(ROSARY HILL COLLEGE)	35,000.00	6,525.00	41,525.00	435,000.00	35,000.00	6,525.00	0.00		41,525.00
20060404	4012006	30109801	DYOURVILLE COLLEGE	52,000.00	12,023.02	64,023.02	801,535.00	51,999.99	12,023.02	0.00		64,023.01
20060404	4012006	30114302	HUNTINGDON COLLEGE - DORM 1968	0.00	1,350.00	1,350.00	90,000.00	0.00	1,350.00	0.00		1,350.00
20060404	0	30118701	MCLENNAN COMMUNITY COLLEGE	105,000.00	1,575.00	106,575.00	105,000.00	105,000.00	1,575.00	0.00		106,575.00
20060404	4012006	30121101	NEW ENGLAND COLLEGE	9,000.00	1,665.00	10,665.00	111,000.00	9,000.00	1,665.00	0.00		10,665.00
20060404	4012006	30123401	PAINE COLLEGE	0.00	9,690.00	9,690.00	645,999.99	0.00	9,690.00	0.00		9,690.00
20060404	4012006	30130903	STEPHEN F AUSTIN STATE UNIVERSITY	0.00	18,680.63	18,680.63	1,107,000.00	0.00	18,680.62	0.00		18,680.62
20060404	4012006	30132003	TAYLOR UNIVERSITY	0.00	7,515.00	7,515.00	501,000.00	0.00	7,515.00	0.00		7,515.00
20060404	4012006	30134101	UNIVERSITY OF CENTRAL FLORIDA	0.00	1,950.00	1,950.00	130,000.00	0.00	1,950.00	0.00		1,950.00
20060404	4012006	30137802	VILLANOVA UNIVERSITY	50,000.00	13,275.00	63,275.00	885,000.00	50,000.00	13,275.00	0.00		63,275.00
System Credits														339,986.13
System Debits ( Pymt Reversal)
Bank Credit 04/05/06																872,062.13
Bank Credit 04/05/06																50,750.00
Bank Debit 04/05/06
Trustee Wire 04/05/06																	922,812.13
20060405	0	30113401	HESSTON COLLEGE	23,000.00	345.00	23,345.00	23,000.00	0.00	0.00	23,345.00		23,345.00
System Credits 04/06/06														23,345.00
System Debits
Bank Credit 04/06/06																339,986.13
Bank Debit (Svc Fees)																		331.99
Trustee Wire 04/06/06																	339,654.14
20060406	4012006	30108801	DILLARD UNIVERSITY	31,000.00	1,035.00	32,035.00	69,000.00	31,000.00	1,035.00	0.00		32,035.00
20060406	4012006	30116801	LINFIELD COLLEGE - HALL BONDS 1968	0.00	885.00	885.00	59,000.00	0.00	885.00	0.00		885.00
20060406	4012006	30127703	SAINT NORBERT COLLEGE	51,000.00	1,425.00	52,425.00	95,000.00	51,000.00	1,425.00	0.00		52,425.00
System Credits														85,345.00
System Debits
Bank Credit 04/07/06																23,345.00
Bank Debit 04/0706
Trustee Wire 04/07/06																	23,345.00
20060407	0	30115803	KNOX COLLEGE - DORM BONDS 1966	50,000.00	750.00	50,750.00	50,000.00	0.00	0.00	-50,750.00		(50,750.00	)
20060407	0	30115803	KNOX COLLEGE - DORM BONDS 1966					50,000.00	750.00	0.00		50,750.00
20060407	4012006	30132904	TUFTS UNIVERSITY	0.00	27,195.00	27,195.00	1,813,000.00	0.00	27,195.00	0.00		27,195.00
System Credits														77,945.00
System Debits														(50,750.00	)
Bank Credit 04/10/06																85,345.00
Bank Debit 04/10/06
Trustee Wire 04/10/06																	85,345.00
20060410	0	30113401	HESSTON COLLEGE					0.00	—	(23,345.00	)	(23,345.00	)
20060410	0	30113401	HESSTON COLLEGE					23,000.00	345.00	—		23,345.00
20060410	4012006	30117801	MARIAN COLLEGE OF FOND DU LAC	0.00	5,625.00	5,625.00	375,000.00	0.00	5,625.00	—		5,625.00
System Credits														28,970.00
System Debits														(23,345.00	)

1

Date Received	Date Due	GMACCM Number	Borrower Name	Principal Due	Interest Due	Total Due	Principal Balance	Principal Paid	Interest Paid	Suspense		Total Paid		Net System Credits		Total Bank Credits	First Chicago Wires	ACH Debits and Other Wires
Bank Credit 04/11/06																77,945.00
Bank Debit 04/11/06 (Payment Reversal)																		50,750.00
Trustee Wire 04/11/06
20060411	0	30100201	ALBION COLLEGE					0.00	—	900.00		900.00
System Credits														900.00
System Debits
Bank Credit 04/12/06																28,970.00
Bank Debit 04/12/06 (Payment Reversal)																		23,345.00
Trustee Wire 04/12/06																	27,195.00
Trustee Wire 04/12/06																	5,625.00
Bank Credit 04/13/06																900.00
Bank Debit 04/13/06
Trustee Wire 04/13/06																	900.00
20060417	4012006	30116201	LASSEN JUNIOR COLLEGE	20,000.00	5,385.00	25,385.00	359,000.00	20,000.00	5,385.00	—		25,385.00
System Credits														25,385.00
System Debits
Bank Credit 04/18/06
Bank Debit 04/18/06
Trustee Wire 04/18/06
Bank Credit 04/19/06																25,385.00
Bank Debit 04/19/06
Trustee Wire 04/19/06																	25,385.00
20060419	0	30100201	ALBION COLLEGE					—	—	(900.00	)	(900.00	)
20060419	4012006	30100201	ALBION COLLEGE					—	720.00	—		720.00
20060419	0	30100201	ALBION COLLEGE							180.00		180.00
System Credits														900.00
System Debits														(900.00	)
Bank Credit 04/20/06
Bank Debit 04/20/06
Trustee Wire 04/20/06
20060420	4012006	30109801	DYOURVILLE COLLEGE					0.01	—	—		0.01
20060420	5012006	30114001	HOOD COLLEGE					—	3,353.12	—		3,353.12
20060420	4012006	30130903	STEPHEN F AUSTIN STATE UNIVERSITY					—	0.01	—		0.01
System Credits														3,353.14
System Debits
Bank Credit 04/21/06																720.00
Bank Credit 04/21/06																180.00
Bank Debit 04/21/06 (Payment Reversal)																		900.00
Trustee Wire 04/21/06
Bank Credit 04/24/06																3,353.14
Bank Debit 04/24/06
Trustee Wire 04/24/06																	3,353.14
20060424	5012006	30104605	CARNEGIE MELLON					25,000.00	10,800.00	—		35,800.00
System Credits														35,800.00
System Debits
Bank Credit 04/25/06
Bank Debit 04/25/06
Trustee Wire 04/25/06
20060425	5012006	30113801	HOFSTRA UNIVERSITY					75,358.87	17,464.85	0		92,823.72
System Credits														92,823.72
System Debits
Bank Credit 04/26/06																35,800.00
Bank Debit 04/26/06
Trustee Wire 04/26/06																	35,800.00
System Credits
System Debits
Bank Credit 04/27/06																92,823.72
Bank Debit 04/27/06
Trustee Wire 04/27/06																	92,823.72
20060427	0	30116903	LONG ISLAND UNIVERSITY					91,185.31	1,367.78	0		92,553.09
20060427	4272006	30116903	LONG ISLAND UNIVERSITY					—	—	0		—
20060427	5012006	30141001	YORK HOSPITAL					15,000.00	4,155.00	0		19,155.00
System Credits														111,708.09

2

Date Received	Date Due	GMACCM Number	Borrower Name	Principal Due	Interest Due	Total Due	Principal Balance	Principal Paid	Interest Paid	Suspense	Total Paid	Net System Credits	Total Bank Credits	First Chicago Wires	ACH Debits and Other Wires
System Debits
Bank Credit 04/28/06
Bank Debit 04/28/06
Trustee Wire 04/28/06
Bank Credit 05/01/06
Bank Debit 05/01/06													111,708.09
Trustee Wire 05/01/06														111,708.09
			TOTALS:	1,206,369.72	217,706.48	1,424,076.20	14,232,411.90	1,417,997.23	256,100.98	180.00	1,674,278.21	1,674,278.21	1,749,273.21	1,673,946.22	75,326.99
Loans Due in Current Period and Paid in Prior Period:
10052005	4012006	30105801	CHAPMAN COLLE	20,000.00	5,250.00	25,250.00	350,000.00
10022005	4012006	30106902	COLLEGE OF SA	0.00	435.00	435.00	0.00
3302006	4012006	30111901	GAVILAN COLLE	12,000.00	180.00	12,180.00	12,000.00
3312006	4012006	30113601	HINDS JUNIOR	150,000.00	17,535.00	167,535.00	1,169,000.00
10192005	4012006	30116102	LANGSTON UNIV	135,000.00	4,125.00	139,125.00	410,000.00
10032005	4012006	30125401	RHODE ISLAND	0.00	525.00	525.00	0.00
3312006	4012006	30130301	SOUTHWEST TEX	0.00	23,550.00	23,550.00	1,570,000.00
10132005	4012006	30134901	UNIVERSITY OF	0.00	7,031.25	7,031.25	0.00
12272005	4012006	30138302	WARTBURG COLL	13,000.00	1,631.25	14,631.25	87,000.00
3302006	4012006	30139001	WEST VALLEY C	50,000.00	3,000.00	53,000.00	200,000.00
10132005	4012006	30139504	WESTERN WASHI	0.00	1,312.50	1,312.50	0.00
			TOTALS:	380,000.00	64,575.00	444,575.00	3,798,000.00
Loans Due in Current Period Not Yet Paid:
	4012006	30100201	ALBION COLLEG	0.00	720.00	720.00	48,000.00
	4012006	30107601	CONCORDIA COL	16,000.00	750.00	16,750.00	50,000.00
	4012006	30108301	DAKOTA WESLEY	0.00	1,875.00	1,875.00	125,000.00
	4012006	30133201	UNIV STU COOP	70,000.00	17,850.00	87,850.00	1,190,000.00
	4012006	30134002	UNIV CENTR AR	0.00	1,170.00	1,170.00	0.00
			TOTALS:	86,000.00	22,365.00	108,365.00	1,413,000.00
			GRAND TOTAL:	1,672,369.72	304,646.48	1,977,016.20	19,443,411.90

3

College and University Loan Trust II

Remittance Report Reconciliation

April-06

Total System Credits @ 4/30		1,674,278.21
Total Bank Credits @ 4/30		1,749,273.21
03/08/06	Ach Correction
	ACH in Transit
	Payment Reversal	(50,750.00	)
	Payment Reversal	(23,345.00	)
	Payment Reversal	(900.00	)
Adjusted Bank Credits:		1,674,278.21
		—

GMAC Commercial Mortgage

College and University Loan Trust II

Remittance Report Reconciliation

April-06

Total Bank Credits @ 4/30		1,749,273.21
Total Debits to Trustee@ 4/30		1,673,946.22
	Ach Correction
	Mar. 06 Service Fees	331.99
		50,750.00
		23,345.00
		900.00
Adjusted Debits to Trustee		1,749,273.21
		—

GMAC Commercial Mortgage

College and University Loan Trust II

Remittance Report for May 2006

Date Received	Date Due	GMACCM Number	Borrower Name	Principal Due	Interest Due	Total Due	Principal Balance	Principal Paid	Interest Paid	Suspense	Total Paid	Net System Credits	Total Bank Credits	First Chicago Wires	ACH Debits and Other Wires
20060501	5012006	30111301	FLORIDA INSTITUTE OF TECHNOLOGY	—	1,200.00	1,200.00	80,000.00	—	1,200.00	—	1,200.00
20060501	5012006	30116904	LONG ISLAND UNIVERSITY	37,798.30	4,781.19	42,579.49	318,746.80	37,798.30	4,781.19	—	42,579.49
20060501	5012006	30128602	SEATTLE UNIVERSITY - 1967 PHYS ED	—	2,610.00	2,610.00	174,000.00	—	2,610.00	—	2,610.00
20060501	5012006	30132601	TRANSYLVANIA UNIVERSITY	—	3,330.00	3,330.00	222,000.00	—	3,330.00	—	3,330.00
20060501	5012006	30138102	VIRGINA ST WESELEYAN COLLEGE					—	1,410.00	—	1,410.00
20060501	11012006	30140201	WHEELOCH COLLEGE	1,142.55	203.31	1,345.86	13,554.11	1,159.68	186.18	—	1,345.86
System Credits 05/01/06												52,475.35
System Debits 05/01/06
Bank Credit 05/01/06													5,340.80
Bank Debit 05/01/06															2,670.40
Trustee Wire 05/01/06														2,670.40
20060502	10012006	30106904	COLLEGE OF SANTA FE					—	1,770.00	—	1,770.00
20060502	5012006	30125504	RIDER COLLEGE	—	20,209.38	20,209.38	1,115,000.00	—	20,209.38	—	20,209.38
20060502	11012006	30125504	RIDER COLLEGE					—	0.01	—	0.01
20060502	5012006	30125506	RIDER COLLEGE	25,000.00	4,830.00	29,830.00	322,000.00	24,145.00	4,830.00	—	28,975.00
20060502	5012006	30125506	RIDER COLLEGE					855.00	—	—	855.00
20060502	11012006	30138102	VIRGINA ST WESELEYAN COLLEGE					480.00	1,410.00	—	1,890.00
System Credits 05/02/06												53,699.39
System Debits 05/02/06
Bank Credit 05/02/06													52,475.35
Bank Debit 05/02/06
Trustee Wire 05/02/06														52,475.35
20060503	5012006	30100103	ALABAMA AGRICULTURAL	90,000.00	20,625.00	110,625.00	1,375,000.00	90,000.00	20,625.00	—	110,625.00
20060503	5012006	30102603	BENEDICT COLLEGE	—	1,260.00	1,260.00	84,000.00	—	1,260.00	—	1,260.00
20060503	5012006	30102604	BENEDICT COLLEGE	—	20,835.00	20,835.00	1,389,000.00	—	20,835.00	—	20,835.00
20060503	5012006	30102802	BETHANY COLLEGE - DORM BOND 1965	—	2,801.25	2,801.25	166,000.00	—	2,801.25	—	2,801.25
20060503	5012006	30102803	BETHANY COLLEGE - HALL BOND 1967	—	3,000.00	3,000.00	200,000.00	—	3,000.00	—	3,000.00
20060503	5012006	30103302	BRANDEIS UNIVERSITY	11,781.22	2,304.62	14,085.84	153,641.54	11,781.22	2,304.62	—	14,085.84
20060503	0	30103302	BRANDEIS UNIVERSITY					—	—	0.01	0.01
20060503	5012006	30103901	CALIFORNIA STATE COLLEGES	—	3,750.00	3,750.00	250,000.00	—	3,750.00	—	3,750.00
20060503	5012006	30104001	CALIFORNIA STATE UNIVERSITY,	—	750.00	750.00	50,000.00	—	750.00	—	750.00
20060503	5012006	30104102	CALIFORNIA STATE UNIVERSITY,	—	11,175.00	11,175.00	745,000.00	—	11,175.00	—	11,175.00
20060503	5012006	30104201	TRUST SERVICES DIVISION	—	29,370.00	29,370.00	1,958,000.00	—	29,370.00	—	29,370.00
20060503	5012006	30104604	CARNEGIE MELLON	30,000.00	1,800.00	31,800.00	120,000.00	30,000.00	1,800.00	—	31,800.00
20060503	5012006	30106702	COLLEGE OF SAINT ROSE	17,082.20	10,838.30	27,920.50	722,553.53	17,082.20	10,838.30	—	27,920.50
20060503	5012006	30107701	CONCORDIA COLLEGE	30,000.00	8,325.00	38,325.00	555,000.00	30,000.00	8,325.00	—	38,325.00
20060503	5012006	30110802	FAIRLEIGH DICKINSON UNIV	—	17,850.00	17,850.00	1,190,000.00	—	17,850.00	—	17,850.00
20060503	5012006	30111802	GANNON UNIV. - DORM BOND 1969, SER A	—	5,700.00	5,700.00	379,999.98	—	5,700.00	—	5,700.00
20060503	5012006	30112301	GEORGETOWN UNIVERSITY	—	32,625.00	32,625.00	2,175,000.00	—	32,625.00	—	32,625.00
20060503	5012006	30117402	LYCOMING COLLEGE	15,000.00	2,900.00	17,900.00	160,000.00	15,000.00	2,900.00	—	17,900.00
20060503	5012006	30117403	LYCOMING COLLEGE	20,000.00	4,218.75	24,218.75	224,999.99	20,000.00	4,218.75	—	24,218.75
20060503	5012006	30117501	LYNCHBURG COLLEGE	30,000.00	6,337.50	36,337.50	338,000.00	30,000.00	6,337.50	—	36,337.50
20060503	5012006	30117502	LYNCHBURG COLLEGE	30,000.00	7,200.00	37,200.00	480,000.00	30,000.00	7,200.00	—	37,200.00
20060503	5012006	30117602	MACALESTER COLLEGE	9,661.98	5,089.68	14,751.66	339,312.14	9,661.98	5,089.68	—	14,751.66
20060503	5012006	30118302	MARY BALDWIN COLLEGE	35,000.00	4,100.63	39,100.63	243,000.00	35,000.00	4,100.63	—	39,100.63
20060503	5012006	30119202	MERCER UNIV. ACCOUNTING OFFICE	15,752.35	4,537.00	20,289.35	302,466.43	15,752.35	4,537.00	—	20,289.35
20060503	5012006	30120402	MORAVIAN COLLEGE	—	2,193.75	2,193.75	130,000.00	—	2,193.75	—	2,193.75
20060503	5012006	30120601	MORGAN STATE UNIVERSTIY	70,941.08	21,803.08	92,744.16	1,453,538.35	70,941.08	21,803.08	—	92,744.16
20060503	5012006	30122302	NORTHEASTERN UNIVERSITY	73,882.58	33,316.99	107,199.57	2,221,132.74	73,882.58	33,316.99	—	107,199.57
20060503	5012006	30122302	NORTHEASTERN UNIVERSITY					0.01	—	—	0.01
20060503	5012006	30124901	RANDOLPH MACON COLLEGE	15,000.00	2,025.00	17,025.00	135,000.00	15,000.00	2,025.00	—	17,025.00
20060503	5012006	30125102	REGIS COLLEGE	—	4,500.00	4,500.00	300,000.00	—	4,500.00	—	4,500.00
20060503	5012006	30126102	RUTGERS, THE STATE UNIVERSITY	35,000.00	9,093.75	44,093.75	485,000.00	35,000.00	9,093.75	—	44,093.75
20060503	5012006	30128001	SAINT VINCENT COLLEGE	45,000.00	7,000.00	52,000.00	400,000.00	45,000.00	7,000.00	—	52,000.00
20060503	5012006	30128301	CALIFORNIA STATE COLLEGES	—	1,875.00	1,875.00	125,000.00	—	1,875.00	—	1,875.00
20060503	5012006	30128401	UNIVERSITY OF ILLINOIS	30,000.00	13,050.00	43,050.00	870,000.00	30,000.00	12,600.00	—	42,600.00
20060503	5012006	30128802	SETON HILL COLLEGE	—	3,951.25	3,951.25	218,000.00	—	3,951.25	—	3,951.25
20060503	5012006	30130703	SPRINGFIELD COLLEGE	35,000.00	4,952.50	39,952.50	283,000.00	35,000.00	4,952.50	—	39,952.50
20060503	5012006	30134304	UNIVERSITY OF DELAWARE	—	2,550.00	2,550.00	170,000.00	—	2,550.00	—	2,550.00
20060503	5012006	30138702	WESLEY COLLEGE	17,000.00	2,261.25	19,261.25	134,000.00	17,000.00	2,261.25	—	19,261.25
20060503	5012006	30140102	WHEELING COLLEGE	—	300.00	300.00	20,000.00	—	300.00	—	300.00
20060503	5012006	30140502	WITTENBERG UNIVERSITY	45,000.00	7,875.00	52,875.00	525,000.00	45,000.00	7,875.00	—	52,875.00
20060503	5012006	30140503	WITTENBERG UNIVERSITY	—	2,550.00	2,550.00	170,000.00	—	2,550.00	—	2,550.00
System Credits 05/03/06												1,027,341.73
System Debits 05/03/06
Bank Credit 05/03/06													53,699.39
Bank Debit 05/03/06 (May 2006 Service Fee)															4,391.65
Trustee Wire 05/03/06														49,307.74
20060504	5012006	30102804	BETHANY COLLEGE - NOTE OF 1973	20,000.00	4,575.00	24,575.00	305,000.00	—	4,575.00	—	4,575.00
20060504	0	30110401	EMMANUEL COLLEGE					—	—	1,515.00	1,515.00
20060504	5012006	30120801	MORRIS COLLEGE	—	3,780.00	3,780.00	252,000.00	—	3,780.00	—	3,780.00
20060504	5012006	30127602	SAINT MICHAELS COLLEGE	69,481.84	17,378.16	86,860.00	1,158,543.67	69,481.84	17,378.16	—	86,860.00
20060504	5012006	30127602	SAINT MICHAELS COLLEGE					0.01	—	—	0.01
20060504	5012006	30137501	UTICA COLLEGE OF SYRACUSE	—	3,180.00	3,180.00	212,000.00	—	3,179.99	—	3,179.99
20060504	11012006	30137501	UTICA COLLEGE OF SYRACUSE					—	0.01	—	0.01
20060504	0	30140102	WHEELING COLLEGE					—	—	20,000.00	20,000.00

System Credits 05/04/06																119,910.01
System Debits 05/04/06
Bank Credit 05/04/06																		1,027,341.73
Bank Debit 05/04/06
Trustee Wire 05/04/06																			1,027,341.73
20060505	5012006	30100301	ALBRIGHT COLLEGE	—	5,220.00	5,220.00	348,000.00	—		5,220.00		—		5,220.00
20060505	5012006	30102804	BETHANY COLLEGE - NOTE OF 1973					20,000.00		—		—		20,000.00
20060505	5012006	30106802	COLLEGE OF ST. THOMAS	—	3,330.00	3,330.00	222,000.00	—		3,330.00		—		3,330.00
20060505	5012006	30109502	DREXEL UNIVERSITY	80,000.00	14,000.00	94,000.00	800,000.00	80,000.00		14,000.00		—		94,000.00
20060505	0	30113501	HIGH POINT COLLEGE					154,000.00		2,310.00		—		156,310.00
20060505	5012006	30118401	MARYMOUNT UNIVERSITY	35,000.00	6,600.00	41,600.00	440,000.00	35,000.00		6,600.00		—		41,600.00
20060505	5012006	30119801	MILLSAPS COLLEGE	—	6,840.00	6,840.00	456,000.00	—		6,840.00		—		6,840.00
20060505	0	30140102	WHEELING COLLEGE					—		—		(20,000.00	)	(20,000.00	)
System Credits 05/05/06																327,300.00
System Debits 05/05/06																(20,000.00	)
Bank Credit 05/05/06																		119,910.01
Bank Debit 05/05/06
Trustee Wire 05/05/06																			119,910.01
System Credits 05/08/06
System Debits 05/08/06
Bank Credit 05/08/06																		327,300.00
Bank Debit 05/08/06 (Payment Reversal)																				20,000.00
Trustee Wire 05/08/06																			307,300.00
20060509	0	30110401	EMMANUEL COLLEGE	—	1,515.00	1,515.00	101,000.00	—		—		(1,515.00	)	(1,515.00	)
20060509	5012006	30110401	EMMANUEL COLLEGE					—		1,515.00		—		1,515.00
20060509	5012006	30112302	GEORGETOWN UNIVERSITY	—	113,300.00	113,300.00	5,665,000.00	—		113,300.00		—		113,300.00
20060509	0	30131702	TALLADEGA COLLEGE					—		—		2,925.00		2,925.00
20060509	5012006	30133301	UNIVERSITY OF ALABAMA	—	9,675.00	9,675.00	645,000.00	—		9,674.99		—		9,674.99
20060509	11012006	30133301	UNIVERSITY OF ALABAMA					—		0.01		—		0.01
20060509	5012006	30138101	VIRGINIA WESELAN COLLEGE	—	1,890.00	1,890.00	126,000.00	—		1,890.00		—		1,890.00
20060509	11012006	30138102	VIRGINA ST WESELEYAN COLLEGE	—	1,410.00	1,410.00	94,000.00	(480.00	)	(1,410.00	)	—		(1,890.00	)
System Credits 05/09/06																129,305.00
System Debits 05/09/06																(3,405.00	)
Bank Credit 05/09/06
Bank Debit 05/09/06
Trustee Wire 05/09/06
20060510	0	30131702	TALLADEGA COLLEGE					—		—		(2,925.00	)	(2,925.00	)
20060510	12012000	30131702	TALLADEGA COLLEGE					2,925.00		—		—		2,925.00
System Credits 05/10/06																2,925.00
System Debits 05/10/06																(2,925.00	)
Bank Credit 05/10/06																		254,755.00
Bank Debit 05/10/06																				128,855.00
Trustee Wire 05/10/06																			125,900.00
System Credits 05/11/06
System Debits 05/11/06
Bank Credit 05/11/06																		2,925.00
Bank Debit 05/11/06 (Payment Reversal)																				2,925.00
Trustee Wire 05/11/06
20060517	10012004	30107601	CONCORDIA COLLEGE					—		990.00		—		990.00
20060517	4012005	30107601	CONCORDIA COLLEGE					—		990.00		—		990.00
System Credits 05/17/06																1,980.00
System Debits 05/17/06
Bank Credit 05/17/06
Bank Debit 05/17/06
Trustee Wire 05/17/06
20060518	9012004	30104801	CARROLL COLLEGE - DORM BOND 1965					—		6,075.00		—		6,075.00
20060518	3012005	30104801	CARROLL COLLEGE - DORM BOND 1965					12,750.00		6,075.00		—		18,825.00
20060518	9012005	30104801	CARROLL COLLEGE - DORM BOND 1965					—		5,625.00		—		5,625.00
20060518	3012006	30104801	CARROLL COLLEGE - DORM BOND 1965					—		5,625.00		—		5,625.00
20060518	3012005	30104801	CARROLL COLLEGE - DORM BOND 1965					5,625.00		—		—		5,625.00
20060518	3012005	30104801	CARROLL COLLEGE - DORM BOND 1965					5,625.00		—		—		5,625.00
20060518	3012006	30104801	CARROLL COLLEGE - DORM BOND 1965					26,000.00		—		—		26,000.00
20060518	4012004	30133201	UNIV STUDENT COOP HOUSING					65,000.00		—		—		65,000.00
20060518	4012004	30133201	UNIV STUDENT COOP HOUSING					—		19,875.00		—		19,875.00
20060518	10012004	30133201	UNIV STUDENT COOP HOUSING					—		18,900.00		—		18,900.00
20060518	4012005	30133201	UNIV STUDENT COOP HOUSING					70,000.00		—		—		70,000.00
20060518	4012005	30133201	UNIV STUDENT COOP HOUSING					—		18,900.00		—		18,900.00
20060518	10012005	30133201	UNIV STUDENT COOP HOUSING					—		17,850.00		—		17,850.00
20060518	4012006	30133201	UNIV STUDENT COOP HOUSING					70,000.00		—		—		70,000.00
20060518	4012006	30133201	UNIV STUDENT COOP HOUSING					—		17,850.00		—		17,850.00
System Credits 05/18/06																371,775.00
System Debits 05/18/06

Bank Credit 05/18/06													1,980.00
Bank Debit 05/18/06
Trustee Wire 05/18/06														1,980.00
System Credits 05/19/06
System Debits 05/19/06
Bank Credit 05/19/06													371,775.00
Bank Debit 05/19/06
Trustee Wire 05/19/06														371,775.00
20060522	6012006	30105701	CHAMPLAIN COLLEGE, INC.					5,319.94	1,430.99	—	6,750.93
System Credits 05/22/06												6,750.93
System Debits 05/22/06
Bank Credit 05/22/06
Bank Debit 05/22/06
Trustee Wire 05/22/06
20060523	12012000	30131702	TALLADEGA COLLEGE					970.00	—	—	970.00
System Credits 05/23/06												970.00
System Debits 05/23/06
Bank Credit 05/23/06													6,750.93
Bank Debit 05/23/06
Trustee Wire 05/23/06														6,750.93
System Credits 05/24/06
System Debits 05/24/06
Bank Credit 05/24/06													970.00
Bank Debit 05/24/06
Trustee Wire 05/24/06														970.00
20060526	6012006	30105101	CATAWBA COLLEGE					13,000.00	1,515.00	—	14,515.00
System Credits 05/26/06												14,515.00
System Debits 05/26/06
Bank Credit 05/26/06
Bank Debit 05/26/06
Trustee Wire 05/26/06
20060530	0	30107601	CONCORDIA COLLEGE					66,000.00	—	—	66,000.00
20060530	0	30108301	DAKOTA WESLEYAN UNIVERSITY					—	—	148,262.50	148,262.50
System Credits 05/30/06												214,262.50
System Debits 05/30/06
Bank Credit 05/30/06													14,515.00
Bank Debit 05/30/06
Trustee Wire 05/30/06														14,515.00
System Credits 05/31/06
System Debits 05/31/06
Bank Credit 05/31/06													214,262.50
Bank Debit 05/31/06
Trustee Wire 05/31/06														214,262.50
			TOTALS:	969,524.10	556,547.34	1,526,071.44	34,310,489.28	1,466,756.19	681,861.21	148,262.51	2,296,879.91	2,296,879.91	2,454,000.71	2,295,158.66	158,842.05
Loans Due in Current Period and Paid in Prior Period:
04242006	5012006	30104605	CARNEGIE-MELL	25,000.00	10,800.00	35,800.00	720,000.00
04242006	5012006	30113801	HOFSTRA UNIVE	75,358.87	17,464.85	92,823.72	1,164,323.49
04202006	5012006	30114001	HOOD COLLEGE	0.00	3,353.12	3,353.12	185,000.00
03312006	5012006	30120701	MORRIS BROWN	27,000.00	1,031.25	28,031.25	55,000.00
03312006	5012006	30120706	MORRIS BROWN	40,000.00	3,000.00	43,000.00	200,000.00
11022005	5012006	30135601	UNIV N CAROLI	0.00	1,155.00	1,155.00	0.00
			TOTALS:	167,358.87	36,804.22	204,163.09	2,324,323.49
Loans Due in Current Period Not Yet Paid:
	5012006	30120705	MORRIS BROWN	60,000.00	13,650.00	73,650.00	910,000.00
	5012006	30127801	ST PAULS COLL	15,498.70	4,763.39	20,262.09	317,559.01
			TOTALS:	75,498.70	18,413.39	93,912.09	1,227,559.01
			GRAND TOTAL:	1,212,381.67	611,764.95	1,824,146.62	37,862,371.78

College and University Loan Trust II

Remittance Report Reconciliation

May-06

Total System Credits @ 5/31		2,296,879.91
Total Bank Credits @ 5/31		2,454,000.71
04/30/06	ACH in Transit	(2,670.40	)
05/01/06	ACH Correction	(2,670.40	)
05/10/06	ACH Correction	(128,855.00	)
05/05/06	Payment Reversal	(20,000.00	)
05/10/06	Payment Reversal	(2,925.00	)
Adjusted Bank Credits:		2,296,879.91
		—

GMAC Commercial Mortgage

College and University Loan Trust II

Remittance Report Reconciliation

May-06

Total Bank Credits @ 5/31		2,454,000.71
Total Debits to Trustee@ 5/31		2,295,158.66
	Ach in Transit	—
05/03/06	May 2006 Service Fees	4,391.65
05/01/06	ACH Correction	2,670.40
05/10/06	ACH Correction	128,855.00
05/05/06	Payment Reversal	20,000.00
05/10/06	Payment Reversal	2,925.00
Adjusted Debits to Trustee		2,454,000.71
		—

May 17, 2006

Richard C. Tarnas

J.P. Morgan Trust Company

227 West Monroe, 26^th Floor

Chicago, IL 60606

RE:  College and University Loan Trust Two Payment Date Report

•Due period amounts billed through May 1, 2006

$ 4,954,060

•Due period amounts billed and not received through May 1, 2006

$ 1,701,800

•Due period amounts billed and received May 2, 2006 through May 17, 2006

$ 1,451,083

We certify the above information to be true and correct to the best of our knowledge.

To validate signature use the Approvelt
menu to Authenticate, Report & Print.

Approved by: dcunning, 5/23/2006
14:49:08

Darri Cunningham

Vice President, CMBS Investor Reporting

Cc:Diana Kenneally

US Bank

One Federal Street

3^rd Floor

Boston, MA 02110

May 17 2006

Richard C. Tarnas

J.P. Morgan Trust Company

120 South LaSalle, 4^th Floor

Chicago, IL 60603

RE:  College and University Loan Trust Two Due Period Report

Section 1306:

A.Loans delinquent more than six months – See Attached

B.Loans delinquent less than six months – See Attached

C.Re-scheduled loans – None to report

D.Pre-payments – See Attached

E.Known circumstances that will result in rescheduling of future payments of any loan – None

We certify the above information to be true and correct to the best of our knowledge.

To validate signature use the Approvelt
menu to Authenticate, Report & Print.

Approved by: dcunning, 5/23/2006
14:49:26

Darri Cunningham

Vice President, CMBS Investor Reporting

Cc:Diana Kenneally

US Bank

Corporate Trust Dept.

One Federal Street

Boston, MA 02110

GMAC Commercial Mortgage

College & Trust Facility Loan Trust II

Delinquency Report (less than 6 months)

As of May 1, 2006

GMACCM Loan Number	Borrower Name	Next Payment Due	P and I Due	Current UPB
30108301	DAKOTA WESLEY	10-01-06	1,875.00	145,000.00
30133201	UNIV STU COOP	10-01-06	87,850.00	1,325,000.00
30104801	CARROLL COLLE	09-01-06	31,625.00	324,000.00
30107601	CONCORDIA COL	10-01-06	16,750.00	66,000.00
30131702	TALLADEGA COL	06-01-06	18,705.00	265,895.00
30100103	ALABAMA AGRIC		110,625.00	1,375,000.00
30100301	ALBRIGHT COLLEGE		5,220.00	348,000.00
30102603	BENEDICT COLLEGE		1,260.00	84,000.00
30102604	BENEDICT COLLEGE		20,835.00	1,389,000.00
30102802	BETHANY COLLEGE		2,801.25	166,000.00
30102803	BETHANY COLLEGE		3,000.00	200,000.00
30102804	BETHANY COLLEGE		24,575.00	305,000.00
30103302	BRANDEIS UNIVERSITY		14,085.84	153,641.54
30103901	CALIFORNIA STATE		3,750.00	250,000.00
30104001	CALIFORNIA STATE		750.00	50,000.00
30104102	CALIFORNIA STATE		11,175.00	745,000.00
30104201	CALIFORNIA STATE		29,370.00	1,958,000.00
30104604	CARNEGIE-MELLON UNIVERSITY		31,800.00	120,000.00
30106702	COLLEGE OF ST. ROSE		27,920.50	722,553.53
30106802	COLLEGE OF ST. THOMAS		3,330.00	222,000.00
30107701	CONCORDIA COLLEGE		38,325.00	555,000.00
30109502	DREXEL UNIVERSITY		94,000.00	800,000.00
30110401	EMMANUEL COLLEGE		1,515.00	101,000.00
30110802	FAIRLEIGH DICKINSON UNIVERSITY		17,850.00	1,190,000.00
30111301	FLORIDA INSTITUTE OF TECH		1,200.00	80,000.00
30111802	GANNON UNIVERSITY		5,700.00	379,999.98
30112301	GEORGETOWN UNIVERSITY		32,625.00	2,175,000.00
30112302	GEORGETOWN UNIVERSITY		113,300.00	5,665,000.00
30116904	LONG ISLAND UNIVERSITY		42,579.49	318,746.80
30117402	LYCOMING COLLEGE		17,900.00	160,000.00
30117403	LYCOMING COLLEGE		24,218.75	224,999.99
30117501	LYNCHBURG COLLEGE		36,337.50	338,000.00
30117502	LYNCHBURG COLLEGE		37,200.00	480,000.00
30117602	MACALESTER COLLEGE		14,751.66	339,312.14
30118302	MARY BALDWIN COLLEGE		39,100.62	243,000.00
30118401	MARYMOUNT UNIVERSITY		41,600.00	440,000.00
30119202	MERCER UNIVERSITY		20,289.35	302,466.43
30119801	MILLSAPS COLLEGE		6,840.00	456,000.00
30120402	MORAVIAN COLLEGE		2,193.75	130,000.00
30120601	MORGAN STATE		92,744.17	1,453,538.35
30120801	MORRIS COLLEGE		3,780.00	252,000.00

GMACCM Loan Number	Borrower Name	Next Payment Due	P and I Due	Current UPB
30122302	NORTHEASTERN UNIVERSITY		107,199.56	2,221,132.74
30124901	RANDOLPH-MACON COLLEGE		17,025.00	135,000.00
30125102	REGIS COLLEGE		4,500.00	300,000.00
30125504	RIDER COLLEGE		20,209.38	1,115,000.00
30125506	RIDER COLLEGE		29,830.00	322,000.00
30126102	RUTGERS THE STATE UNIVERSITY		44,093.75	485,000.00
30127602	ST. MICHAELS COLLEGE		86,866.90	1,158,543.67
30127801	ST. PAUL’S COLLEGE		20,262.09	317,559.01
30128001	ST. VINCENT COLLEGE		52,000.00	400,000.00
30128301	CALIFORNIA STATE		1,875.00	125,000.00
30128401	SANGAMON STATE		43,050.00	870,000.00
30128602	SEATTLE UNIVERSITY		2,610.00	174,000.00
30128802	SETON HILL COLLEGE		3,951.25	218,000.00
30130703	SPRINGFIELD COLLEGE		39,952.50	283,000.00
30132601	TRANSYLVANIA UNIVERSITY		3,330.00	222,000.00
30133301	UNIVERSITY OF ALABAMA		9,675.00	645,000.00
30134304	UNIVERSITY OF DELAWARE		2,550.00	170,000.00
30137501	UTICA COLLEGE		3,180.00	212,000.00
30138101	VIRGINIA WESLEYAN COLLEGE		1,890.00	126,000.00
30138102	VIRGINIA WESLEYAN COLLEGE		1,410.00	94,000.00
30138702	WESLEY COLLEGE		19,261.25	134,000.00
30140102	WHEELING COLLEGE		300.00	20,000.00
30140502	WITTENBERG UNIVERSITY		52,875.00	525,000.00
30140503	WITTENBERG UNIVERSITY		2,550.00	170,000.00
			1,701,799.56	36,740,389.18

GMAC Commercial Mortgage

College & Trust Facility Loan Trust II

Delinquency Report (6+ Months)

As of May 1, 2006

GMACCM Loan Number	Borrower Name	Next Payment Due	P and I Due	Current UPB
30108301	DAKOTA WESLEY	10-01-06	28,400.00	145,000.00
30133201	UNIV STU COOP	10-01-06	210,525.00	1,325,000.00
30104801	CARROLL COLLE	09-01-06	41,775.00	324,000.00
30107601	CONCORDIA COL	10-01-06	18,730.00	66,000.00
30134002	UNIV CENTR AR		79,635.00	78,000.00
30131702	TALLADEGA COL	06-01-06	15,000.00	265,895.00
31000102	ALABAMA AGRIC		75,000.00	75,000.00
30117204	LOUISIANA STA		38,000.00	38,000.00
TOTAL			507,065.00	2,316,895.00

GMAC Commercial Mortgage

College and University Loan Trust II

Paid In Full Loan Schedule

For 6 months ending May 1, 2006

Loan Number	Payoff Date	Total Amount Paid	Principal Amount	Interest Amount	Other Fees	Maturity Date
30131003	01-03-06	28,000.00	28,000.00	—	—	01-01-06
30101102	03-01-06	35,525.00	35,000.00	525.00	—	03-01-06
30111901	03-30-06	12,180.00	12,000.00	180.00	—	04-01-06
30113401	04-10-06	23,345.00	23,000.00	345.00	—	04-01-06
30115803	04-07-06	50,750.00	50,000.00	750.00	—	04-01-06
30118701	04-04-06	106,575.00	105,000.00	1,575.00	—	04-01-06
Totals		256,375.00	253,000.00	3,375.00	—

GMAC Commercial Mortgage

College and University Loan Trust II

Prepayments

For 6 months ending May 2006

Loan Number	Payoff Date	Total Amount Paid	Principal Amount	Interest Amount	Other Fees	Maturity Date
30116601	12-19-05	44,660.00	44,000.00	660.00	—	12-01-06
30122701	12-01-05	137,025.00	135,000.00	2,025.00	—	12-01-07
30138302	12-27-05	88,631.25	87,000.00	1,631.25	—	04-01-11
30120701	03-31-06	56,031.25	55,000.00	1,031.25	—	05-01-07
30116903	04-27-06	92,553.09	91,185.31	1,367.78	—	11-01-09
TOTALS:		418,900.59	412,185.31	6,715.28	—

GMAC Commercial Mortgage

College and University Loan Trust II

Trial Balance

As of May 1, 2006

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
30100102	ALABAMA AGRICULTURAL	3.0	75,000.00	7012005
30100103	ALABAMA AGRICULTURAL	3.0	1,375,000.00	5012018
30100201	ALBION COLLEGE	3.0	48,000.00	10012009
30100301	ALBRIGHT COLLEGE	3.0	348,000.00	11012015
30101102	ANDERSON COLLEGE	3.0	—	3012006
30101601	AUBURN UNIVERSITY	3.0	1,555,000.00	12012018
30101701	AZUSA PACIFIC UNIVERSITY	3.8	134,000.00	4012015
30102603	BENEDICT COLLEGE	3.0	84,000.00	11012006
30102604	BENEDICT COLLEGE	3.0	1,389,000.00	11012020
30102802	BETHANY COLLEGE - DORM BOND 1965	3.4	166,000.00	11012012
30102803	BETHANY COLLEGE - HALL BOND 1967	3.0	200,000.00	11012017
30102804	BETHANY COLLEGE - NOTE OF 1973	3.0	305,000.00	11012012
30103302	BRANDEIS UNIVERSITY	3.0	153,641.54	11012011
30103901	CALIFORNIA STATE COLLEGES	3.0	250,000.00	11012007
30104001	CALIFORNIA STATE UNIVERSITY,	3.0	50,000.00	11012006
30104102	CALIFORNIA STATE UNIVERSITY,	3.0	745,000.00	11012013
30104201	TRUST SERVICES DIVISION	3.0	1,958,000.00	11012019
30104401	CAMERON UNIVERSITY	3.0	305,000.00	4012007
30104604	CARNEGIE MELLON	3.0	120,000.00	5012009
30104605	CARNEGIE MELLON	3.0	695,000.00	11012017
30104702	CARROLL COLLEGE	3.8	230,000.00	6012014
30104703	CARROLL COLLEGE	3.0	118,992.19	6012018
30104801	CARROLL COLLEGE - DORM BOND 1965	3.8	324,000.00	3012015
30105101	CATAWBA COLLEGE	3.0	101,000.00	12012009
30105404	CENTRAL MISSOURI STATE	3.0	245,000.00	7012007
30105701	CHAMPLAIN COLLEGE, INC.	3.0	95,399.38	12012013
30106702	COLLEGE OF SAINT ROSE	3.0	722,553.53	5012022
30106802	COLLEGE OF ST. THOMAS	3.0	222,000.00	11012009
30106904	COLLEGE OF SANTA FE	3.0	435,000.00	10012018
30107002	COLLEGE OF THE HOLY CROSS	3.6	610,000.00	10012013
30107003	COLLEGE OF THE HOLY CROSS	3.0	110,000.00	10012006
30107601	CONCORDIA COLLEGE	3.0	66,000.00	4012009
30107701	CONCORDIA COLLEGE	3.0	555,000.00	5012019
30108101	CUMBERLAND COLLEGE	3.0	228,000.00	8012017
30108202	DAEMEN COLLEGE(ROSARY HILL COLLEGE)	3.0	400,000.00	4012016
30108301	DAKOTA WESLEYAN UNIVERSITY	3.0	145,000.00	10012015
30108801	DILLARD UNIVERSITY	3.0	38,000.00	4012008
30109301	DOWLING COLLEGE	3.0	267,000.00	10012010
30109502	DREXEL UNIVERSITY	3.5	800,000.00	5012014
30109604	DRURY COLLEGE	3.0	176,000.00	4012015
30109605	DRURY COLLEGE	3.0	216,000.00	10012010

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
30109801	DYOURVILLE COLLEGE	3.0	749,535.00	4012018
30110101	ELIZABETH CITY STATE UNIVERSITY	3.0	270,000.00	10012017
30110301	EMBRY RIDDLE AERONAUTICAL UNIV.	3.0	125,000.00	9012007
30110401	EMMANUEL COLLEGE	3.0	101,000.00	11012013
30110802	FAIRLEIGH DICKINSON UNIV	3.0	1,190,000.00	11012017
30111202	FLORIDA ATLANTIC UNIVERSITY-SER A	3.0	50,000.00	7012006
30111301	FLORIDA INSTITUTE OF TECHNOLOGY	3.0	80,000.00	11012009
30111603	FT HAYES STATE UNIVERSITY	3.0	40,000.00	10012007
30111802	GANNON UNIV. - DORM BOND 1969, SER A	3.0	379,999.98	11012011
30111803	GANNON UNIVERSITY	3.0	161,490.00	12012022
30111901	GAVILAN COLLEGE	3.0	—	4012006
30112002	GEORGE FOX COLLEGE	3.0	556,507.19	7012018
30112202	GEORGETOWN COLLEGE	3.0	165,000.00	12012008
30112203	GEORGETOWN COLLEGE	3.0	355,000.00	12012009
30112301	GEORGETOWN UNIVERSITY	3.0	2,175,000.00	11012020
30112302	GEORGETOWN UNIVERSITY	4.0	5,665,000.00	11012020
30112901	HAMPSHIRE COLLEGE	3.0	225,714.79	7012013
30112902	HAMPSHIRE COLLEGE	3.0	834,781.86	2012014
30113401	HESSTON COLLEGE	3.0	—	4012006
30113501	HIGH POINT COLLEGE	3.0	154,000.00	12012010
30113601	HINDS JUNIOR COLLEGE	3.0	1,019,000.00	4012013
30113702	HIWASSEE COLLEGE	3.0	143,080.76	9152018
30113801	HOFSTRA UNIVERSITY	3.0	1,088,964.62	11012012
30114001	HOOD COLLEGE	3.6	185,000.00	11012014
30114201	HUSTON-TILLOTSON COLLEGE - DORM 1964	3.5	230,000.00	4012014
30114302	HUNTINGDON COLLEGE - DORM 1968	3.0	90,000.00	10012008
30114801	INTER AMERICAN UNIVERSITY OF PUERTO RICO	3.0	24,000.00	9012007
30114802	INTER-AMERICAN UNIV. OF PUERTO RICO	3.0	1,662,070.94	1012017
30115001	JAMES MADISON UNIVERSITY	3.0	715,000.00	6012009
30115803	KNOX COLLEGE - DORM BONDS 1966	3.0	—	4012006
30115901	LA GRANGE COLLEGE	3.0	105,000.00	3012009
30116201	LASSEN JUNIOR COLLEGE	3.0	339,000.00	4012020
30116801	LINFIELD COLLEGE - HALL BONDS 1968	3.0	59,000.00	10012017
30116903	LONG ISLAND UNIVERSITY	3.0	—	11012009
30116904	LONG ISLAND UNIVERSITY	3.0	318,746.80	11012009
30117002	LONG ISLAND UNIVERSITY	3.6	360,000.00	6012014
30117204	LA. STATE UNIV. 1965 BOND SER B	3.0	38,000.00	7012005
30117205	LA. STATE UNIV. 1966 BOND SER C	3.0	15,000.00	7012006
30117402	LYCOMING COLLEGE	3.6	160,000.00	5012014
30117403	LYCOMING COLLEGE	3.8	224,999.99	5012015
30117501	LYNCHBURG COLLEGE	3.8	338,000.00	5012015

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
30117502	LYNCHBURG COLLEGE	3.0	480,000.00	5012018
30117602	MACALESTER COLLEGE	3.0	339,312.14	5012020
30117801	MARIAN COLLEGE OF FOND DU LAC	3.0	375,000.00	10012016
30118302	MARY BALDWIN COLLEGE	3.4	243,000.00	5012012
30118401	MARYMOUNT UNIVERSITY	3.0	440,000.00	5012016
30118701	MCLENNAN COMMUNITY COLLEGE	3.0	—	4012006
30119001	SLOAN-MEMORIAL KETTERING CANCER CENTER	3.4	504,000.00	4012012
30119202	MERCER UNIV. ACCOUNTING OFFICE	3.0	302,466.43	5012014
30119801	MILLSAPS COLLEGE	3.0	456,000.00	11012021
30119903	MISSISSIPPI STATE UNIVERSITY	3.0	1,165,000.00	12012020
30120402	MORAVIAN COLLEGE	3.4	130,000.00	11012012
30120501	MOREHOUSE COLLEGE	3.0	449,999.50	7012010
30120601	MORGAN STATE UNIVERSTIY	3.0	1,453,538.35	11012014
30120701	MORRIS BROWN COLLEGE	3.8	—	5012007
30120705	MORRIS BROWN COLLEGE	3.0	910,000.00	5012018
30120706	MORRIS BROWN COLLEGE	3.0	—	5012010
30120801	MORRIS COLLEGE	3.0	252,000.00	11012009
30121101	NEW ENGLAND COLLEGE	3.0	102,000.00	4012016
30121201	NEWARK BETH ISREAL MEDICAL CENTER	3.6	395,000.00	1012014
30121501	NORFOLK STATE UNIVERSITY	3.0	2,202,708.12	12012021
30122302	NORTHEASTERN UNIVERSITY	3.0	2,221,132.74	5012018
30122802	OCCIDENTAL COLLEGE	3.0	208,000.00	10012019
30123401	PAINE COLLEGE	3.0	645,999.99	10012016
30123701	UNIVERSITY OFTHE ARTS	3.0	1,867,448.44	1012022
30124901	RANDOLPH MACON COLLEGE	3.0	135,000.00	5012010
30125102	REGIS COLLEGE	3.0	300,000.00	11012012
30125504	RIDER COLLEGE	3.6	1,115,000.00	11012013
30125506	RIDER COLLEGE	3.0	322,000.00	5012017
30125601	RIO GRANDE COLLEGE	3.0	30,500.18	3302009
30126102	RUTGERS, THE STATE UNIVERSITY	3.8	485,000.00	5012016
30127402	ST MARY’S COLLEGE	3.0	315,000.00	6012020
30127602	SAINT MICHAELS COLLEGE	3.0	1,158,543.67	5012013
30127703	SAINT NORBERT COLLEGE	3.0	44,000.00	4012007
30127801	SAINT PAULS COLLEGE	3.0	317,559.01	11012014
30128001	SAINT VINCENT COLLEGE	3.5	400,000.00	5012013
30128301	CALIFORNIA STATE COLLEGES	3.0	125,000.00	11012006
30128401	UNIVERSITY OF ILLINOIS	3.0	870,000.00	11012018
30128602	SEATTLE UNIVERSITY - 1967 PHYS ED	3.0	174,000.00	11012008
30128802	SETON HILL COLLEGE	3.6	218,000.00	11012014
30129101	SIMPSON COLLEGE - BOND 1966	3.0	222,000.00	7012016
30129402	SOUTHEAST MISSOURI STATE UNIV(ESCROW)	3.0	71,000.00	4012007

GMACCM Number	Borrower Name	Interest Rate	Current UPB	Maturity Date
30129802	SOUTHERN METHODIST UNIVERSITY	3.0	138,000.00	10012007
30130301	SOUTHWEST TEXAS STATE UNIVERSITY	3.0	1,570,000.00	10012015
30130502	SPALDING UNIVERSITY	3.0	66,000.00	9012007
30130703	SPRINGFIELD COLLEGE	3.5	283,000.00	5012013
30130903	STEPHEN F AUSTIN STATE UNIVERSITY	3.4	1,107,000.00	10012012
30131702	TALLADEGA COLLEGE	3.0	265,895.00	12012012
30132002	TAYLOR UNIVERSITY	3.0	158,000.00	10012012
30132003	TAYLOR UNIVERSITY	3.0	501,000.00	10012013
30132301	TEXAS A & I UNIV-BLDG SYS SER 1969A	3.0	281,000.00	7012009
30132402	TEXAS SOUTHERN UNIVERSITY	3.5	280,000.00	4012013
30132601	TRANSYLVANIA UNIVERSITY	3.0	222,000.00	11012010
30132904	TUFTS UNIVERSITY	3.0	1,813,000.00	10012021
30133201	UNIV STUDENT COOP HOUSING	3.0	1,325,000.00	4012019
30133301	UNIVERSITY OF ALABAMA	3.0	645,000.00	11012008
30134002	ARKANSAS STATE TEACHERS COLLEGE	3.0	78,000.00	4012005
30134101	UNIVERSITY OF CENTRAL FLORIDA	3.0	130,000.00	10012007
30134304	UNIVERSITY OF DELAWARE	3.0	170,000.00	11012006
30134305	UNIVERSITY OF DELAWARE	3.0	489,000.00	12012018
30134402	UNIVERSITY OF FLORIDA / REV. CERTS.,84	3.0	1,450,000.00	7012014
30135701	UNIVERSITY OF NORTH CAROLINA	3.0	145,000.00	1012008
30135702	UNIVERSITY OF NORTH CAROLINA	3.0	5,000.00	1012007
30136002	UNIVERSITY OF PUERTO RICO	3.0	929,000.00	6012011
30136801	UNIVERSITY OF ST THOMAS	3.0	491,000.00	10012019
30136901	UNIV OF STEUBENVILLE	3.1	133,000.00	4012010
30137501	UTICA COLLEGE OF SYRACUSE	3.0	212,000.00	11012009
30137701	VERMONT STATE COLLEGE	3.0	160,000.00	6012008
30137702	VERMONT STATE COLLEGE	3.0	165,000.00	7012014
30137802	VILLANOVA UNIVERSITY	3.0	835,000.00	4012019
30137901	VINCENNES UNIVERSITY	3.0	3,060,000.00	6012023
30138001	VIRGINIA COMMONWEALTH	3.0	1,366,999.99	6012011
30138101	VIRGINIA WESELAN COLLEGE	3.0	126,000.00	11012009
30138102	VIRGINA ST WESELEYAN COLLEGE	3.0	94,000.00	11012010
30138702	WESLEY COLLEGE	3.4	134,000.00	5012013
30139001	WEST VALLEY COLLEGE	3.0	150,000.00	4012009
30140003	WHEATON COLLEGE	3.5	465,000.00	4012013
30140102	WHEELING COLLEGE	3.0	20,000.00	11012007
30140201	WHEELOCH COLLEGE	3.0	12,411.56	5012011
30140502	WITTENBERG UNIVERSITY	3.0	525,000.00	5012015
30140503	WITTENBERG UNIVERSITY	3.0	170,000.00	11012017
30140601	THE COLLEGE OF WOOSTER	3.0	14,503.60	3302009
30141001	YORK HOSPITAL	3.0	262,000.00	5012020
	TOTALS:		78,345,497.29