Carrington Mortgage Loan Trust, Series 2006-OPT1 Inactive
Filed: 9 Mar 06, 12:00am
(Filed pursuant to Rule 433; SEC File No. 333-130210) CCM CARRINGTON CAPITAL MANAGEMENT MBS NEW ISSUE TERM SHEET $959,704,000 (APPROXIMATE) - -------------------------------------------------------------------------------- CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 ASSET-BACKED PASS-THROUGH CERTIFICATES - -------------------------------------------------------------------------------- CARRINGTON SECURITIES, LP Sponsor OPTION ONE MORTGAGE CORPORATION Originator & Servicer STANWICH ASSET ACCEPTANCE COMPANY, L.L.C. Depositor CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 Issuing Entity MARCH 7, 2006 - -------------------------------------------------------------------------------- Citigroup Global Markets Inc. Citigroup [LOGO] CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- STATEMENT REGARDING THIS FREE WRITING PROSPECTUS The information in this free writing prospectus, if conveyed prior to the time of your contractual commitment to purchase any of the Offered Certificates described herein, supersedes any information contained in any prior similar materials relating to the Offered Certificates. The information in this free writing prospectus is preliminary, and is subject to completion or change. This free writing prospectus is not required to contain all information that is required to be included in the base prospectus and the prospectus supplement. This free writing prospectus is being delivered to you solely to provide you with information about the offering of the Offered Certificates referred to in this free writing prospectus and to solicit an offer to purchase the Offered Certificates, when, as and if issued. Any such offer to purchase made by you will not be accepted and will not constitute a contractual commitment by you to purchase any of the Offered Certificates, until we have accepted your offer to purchase Offered Certificates. This free writing prospectus is not an offer to sell or a solicitation of an offer to buy these securities in any state where such offer, solicitation or sale is not permitted. IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-BACKED SECURITIES The Offered Certificates referred to in these materials are being sold when, as and if issued. The depositor is not obligated to issue such Offered Certificates or any similar security and the underwriter's obligation to deliver such Offered Certificates is subject to the terms and conditions of the underwriting agreement with the depositor and the availability of such Offered Certificates when, as and if issued by the issuing entity. You are advised that the terms of the Offered Certificates, and the characteristics of the mortgage loan pool backing them, may change (due, among other things, to the possibility that mortgage loans that comprise the pool may become delinquent or defaulted or may be removed or replaced and that similar or different mortgage loans may be added to the pool, and that one or more classes of Offered Certificates may be split, combined or eliminated), at any time prior to issuance or availability of a final prospectus. You are advised that Offered Certificates may not be issued that have the characteristics described in these materials. The underwriter's obligation to sell such Offered Certificates to you is conditioned on the mortgage loans and Offered Certificates having the characteristics described in these materials. If for any reason the issuing entity does not deliver such Offered Certificates, the underwriter will notify you, and neither the issuer nor any underwriter will have any obligation to you to deliver all or any portion of the Offered Certificates which you have committed to purchase, and none of the issuing entity nor any underwriter will be liable for any costs or damages whatsoever arising from or related to such non-delivery. THE DEPOSITOR HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH THE SECURITIES AND EXCHANGE COMMISSION (THE SEC) FOR THE OFFERING TO WHICH THIS COMMUNICATION RELATES. BEFORE YOU INVEST, YOU SHOULD READ THE PROSPECTUS IN THAT REGISTRATION STATEMENT AND OTHER DOCUMENTS THE DEPOSITOR HAS FILED WITH THE SEC FOR MORE COMPLETE INFORMATION ABOUT THE DEPOSITOR AND THE OFFERING. YOU MAY GET THESE DOCUMENTS AT NO CHARGE BY VISITING EDGAR ON THE SEC WEB SITE AT WWW.SEC.GOV. ALTERNATIVELY, THE DEPOSITOR, ANY UNDERWRITER OR ANY DEALER PARTICIPATING IN THE OFFERING WILL ARRANGE TO SEND YOU THE PROSPECTUS AT NO CHARGE IF YOU REQUEST IT BY CALLING TOLL-FREE 1-866-803-9204. 1 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- $959,704,000 (APPROXIMATE) - -------------------------------------------------------------------------------- CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 ASSET-BACKED PASS-THROUGH CERTIFICATES - -------------------------------------------------------------------------------- CARRINGTON SECURITIES, LP Sponsor OPTION ONE MORTGAGE CORPORATION Originator & Servicer STANWICH ASSET ACCEPTANCE COMPANY, L.L.C. Depositor CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 Issuing Entity TRANSACTION HIGHLIGHTS - ----------------------------------------------------------------------------------------------------------------------------------- DISTRIBUTION INITIAL OFFERED EXPECTED RATINGS AVG LIFE(1)(2) WINDOW(1)(2) SUBORDINATION CLASSES BALANCE(3) DESCRIPTION BENCHMARK (MOODY'S/S&P/FITCH) CALL / MAT CALL / MAT LEVEL (%) - ----------------------------------------------------------------------------------------------------------------------------------- A-1 412,077,000 FLT/SEN 1M LIBOR Aaa / AAA / AAA 1.00 / 1.00 1 - 21 / 1 - 21 23.60 A-2 50,000,000 FLT/SEN 1M LIBOR Aaa / AAA / AAA 1.80 / 1.80 21 - 22 / 21 - 22 23.60 A-3 295,377,000 FLT/SEN 1M LIBOR Aaa / AAA / AAA 3.00 / 3.15 22 - 71 / 22 - 106 23.60 A-4 18,025,000 FLT/SEN 1M LIBOR Aaa / AAA / AAA 5.95 / 11.09 71 - 71 / 106 - 171 23.60 M-1 37,048,000 FLT/MEZZ 1M LIBOR Aa1 / AA+ / AA+ 5.06 / 5.55 53 - 71 / 53 - 145 19.95 M-2 35,018,000 FLT/MEZZ 1M LIBOR Aa2 / AA / AA+ 4.71 / 5.18 48 - 71 / 48 - 139 16.50 M-3 20,808,000 FLT/MEZZ 1M LIBOR Aa3 / AA / AA 4.53 / 4.99 45 - 71 / 45 - 133 14.45 M-4 18,778,000 FLT/MEZZ 1M LIBOR A1 / AA / AA- 4.44 / 4.89 44 - 71 / 44 - 128 12.60 M-5 17,255,000 FLT/MEZZ 1M LIBOR A2 / A+ / A+ 4.38 / 4.81 42 - 71 / 42 - 124 10.90 M-6 16,240,000 FLT/MEZZ 1M LIBOR A3 / A+ / A- 4.33 / 4.73 41 - 71 / 41 - 119 9.30 M-7 15,225,000 FLT/MEZZ 1M LIBOR Baa1 / A / A- 4.29 / 4.67 40 - 71 / 40 - 114 7.80 M-8 13,195,000 FLT/MEZZ 1M LIBOR Baa2 / A- / BBB+ 4.26 / 4.61 39 - 71 / 39 - 108 6.50 M-9 10,658,000 FLT/MEZZ 1M LIBOR Baa3 / BBB+ / BBB 4.22 / 4.54 39 - 71 / 39 - 102 5.45 M-10(4) 12,688,000 FLT/MEZZ 1M LIBOR Ba1 / BBB / BBB 4.21 / 4.47 38 - 71 / 38 - 96 4.20 - ----------------------------------------------------------------------------------------------------------------------------------- 1. Certificates are priced to the 10% optional clean-up call. 2. Based on the pricing prepayment assumption described herein. 3. Certificate sizes subject to a variance of +/- 5%. 4. The Class M-10 Certificates are not offered hereby. PRICING PREPAYMENT ASSUMPTION 2-YEAR AND SHORTER FIXED RATE PERIOD ADJUSTABLE-RATE MORTGAGE LOANS: 2.0% CPR in month 1, building to 30.0% by month 12; 30.0% CPR for months 13-22; 60.0% CPR for months 23-27; 35.0% CPR for months 28 and thereafter. 3-YEAR AND LONGER FIXED RATE PERIOD ADJUSTABLE-RATE MORTGAGE LOANS: 2.0% CPR in month 1, building to 30.0% by month 12; 30.0% CPR for months 13-34; 60.0% CPR for months 35-39; 35.0% CPR for months 40 and thereafter. FIXED-RATE MORTGAGE LOANS: 4.0% CPR growing to 23.0% CPR over 12 months and remaining at 23.0% CPR thereafter. 2 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- TRANSACTION OVERVIEW - ----------------------------------------------------------------------------------------------------------------------------- ISSUING ENTITY: Carrington Mortgage Loan Trust, Series 2006-OPT1. - ----------------------------------------------------------------------------------------------------------------------------- DEPOSITOR: Stanwich Asset Acceptance Company, L.L.C. - ----------------------------------------------------------------------------------------------------------------------------- SPONSOR: Carrington Securities, LP. - ----------------------------------------------------------------------------------------------------------------------------- ORIGINATOR & SERVICER: Option One Mortgage Corporation. - ----------------------------------------------------------------------------------------------------------------------------- TRUSTEE: Wells Fargo Bank, N.A. - ----------------------------------------------------------------------------------------------------------------------------- CUSTODIAN: Wells Fargo Bank, N.A. - ----------------------------------------------------------------------------------------------------------------------------- LEAD MANAGER: Bear, Stearns & Co. Inc. - ----------------------------------------------------------------------------------------------------------------------------- CO-MANAGERS: Citigroup Global Markets Inc. Northeast Securities - ----------------------------------------------------------------------------------------------------------------------------- CAP CONTRACTS PROVIDER: Swiss Re Financial Products. - ----------------------------------------------------------------------------------------------------------------------------- OFFERED CERTIFICATES: Approximately $775,479,000 senior floating-rate certificates consisting of the Class A-1, Class A-2, Class A-3 and Class A-4 Certificates (together the "Class A Certificates") and approximately $196,913,000 mezzanine floating rate certificates consisting of the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates (together the "Class M Certificates" or the "Mezzanine Certificates"). The Class A Certificates and the Class M Certificates (other than the Class M-10 Certificates) are referred to herein as the "Offered Certificates". The Offered Certificates and the Class M-10 Certificates are backed by adjustable-rate and fixed-rate, interest-only, balloon and fully-amortizing, first lien and second lien, closed-end, subprime, mortgage loans (the "Mortgage Loans"). - ----------------------------------------------------------------------------------------------------------------------------- NON-OFFERED CERTIFICATES: The Class M-10, Class CE, Class P and Class R Certificates will not be offered pursuant to the prospectus. - ----------------------------------------------------------------------------------------------------------------------------- MORTGAGE LOANS: As of March 1, 2006, the Mortgage Loans will consist of approximately 4,736 adjustable-rate and fixed-rate, interest-only, balloon and fully-amortizing, first and second lien, closed-end, subprime mortgage loans, with a scheduled principal balance of approximately $1,015,025,383. - ----------------------------------------------------------------------------------------------------------------------------- EXPECTED PRICING DATE: On or about March 9, 2006. - ----------------------------------------------------------------------------------------------------------------------------- CLOSING DATE: On or about March 14, 2006. - ----------------------------------------------------------------------------------------------------------------------------- CUT-OFF DATE: March 1, 2006. - ----------------------------------------------------------------------------------------------------------------------------- DISTRIBUTION DATE: The 25th day of each month (or if such 25th day is not a business day, the next succeeding business day) commencing in April 2006. - ----------------------------------------------------------------------------------------------------------------------------- 3 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- TRANSACTION OVERVIEW - ----------------------------------------------------------------------------------------------------------------------------- RECORD DATE: The business day immediately preceding each Distribution Date. - ----------------------------------------------------------------------------------------------------------------------------- DELAY DAYS: Zero days on all Class A and Mezzanine Certificates. - ----------------------------------------------------------------------------------------------------------------------------- DUE PERIOD: The Due Period with respect to any Distribution Date commences on the second day of the month immediately preceding the month in which such Distribution Date occurs and ends on the first day of the month in which such Distribution Date occurs. - ----------------------------------------------------------------------------------------------------------------------------- INTEREST ACCRUAL PERIOD: The Interest Accrual Period for any Distribution Date and for the Class A Certificates and Mezzanine Certificates is the period commencing on the Distribution Date of the month immediately preceding the month in which the Distribution Date occurs or, in the case of the first Distribution Date, commencing on the Closing Date, and ending on the day preceding the Distribution Date. All distributions of interest on the Class A Certificates and Mezzanine Certificates will be based on a 360-day year and the actual number of days in the applicable Interest Accrual Period. - ----------------------------------------------------------------------------------------------------------------------------- PREPAYMENT PERIOD: The Prepayment Period with respect to any Distribution Date is the period beginning on the 16th day of the calendar month immediately preceding the month in which the Distribution Date occurs to the 15th day of the then current calendar month. - ----------------------------------------------------------------------------------------------------------------------------- ERISA CONSIDERATIONS: Subject to the considerations in the Prospectus Supplement, it is expected that the Offered Certificates will be eligible for purchase by certain ERISA plans as of the Closing Date. However, investors should consult with their counsel with respect to the consequences under ERISA and the Internal Revenue Code of an ERISA plan's acquisition and ownership of such Certificates. - ----------------------------------------------------------------------------------------------------------------------------- LEGAL INVESTMENT: The Offered Certificates will NOT constitute "mortgage related securities" for the purposes of the Secondary Mortgage Market Enhancement Act of 1984 ("SMMEA"). - ----------------------------------------------------------------------------------------------------------------------------- TAX STATUS: For federal income tax purposes, each Offered Certificate will represent beneficial ownership of a REMIC regular interest and an interest in a interest rate cap agreement. - ----------------------------------------------------------------------------------------------------------------------------- FORM OF REGISTRATION: Book-entry form through DTC, Clearstream and Euroclear. - ----------------------------------------------------------------------------------------------------------------------------- MINIMUM DENOMINATIONS: Class A and Class M-1 Certificates: $100,000 and integral multiples of $1 in excess thereof. Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates: $250,000 and integral multiples of $1 in excess thereof. - ----------------------------------------------------------------------------------------------------------------------------- 4 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- TRANSACTION OVERVIEW - ----------------------------------------------------------------------------------------------------------------------------- OPTIONAL TERMINATION: At its option, the majority holder of the Class CE Certificates, in accordance with the terms of the Pooling and Servicing Agreement, may purchase all of the Mortgage Loans, together with any properties in respect of such Mortgage Loans acquired on behalf of the trust, and thereby effect termination and early retirement of the certificates, after the aggregate principal balance of (i) the Mortgage Loans remaining in the trust at the time of such purchase, and (ii) properties acquired in respect of such Mortgage Loans has been reduced to less than 10% of the aggregate principal balance of the Mortgage Loans as of the Cut-off Date. - ----------------------------------------------------------------------------------------------------------------------------- ADMINISTRATIVE FEE RATES: The sum of (i) the "Servicing Fee", calculated at the "Servicing Fee Rate" of 0.30% per annum for the first 10 Due Periods, 0.40% per annum for the 11th through 30th Due Periods and 0.65% per annum for all Due Periods thereafter, and (ii) the "Trustee Fee" calculated at the "Trustee Fee Rate" of 0.0025% per annum. Administrative Fees will be paid monthly on the stated principal balance of the Mortgage Loans. - ----------------------------------------------------------------------------------------------------------------------------- PRINCIPAL & INTEREST The Servicer is required to advance delinquent payments of principal and interest on the ADVANCES: Mortgage Loans to the extent such amounts are deemed recoverable. The Servicer is entitled to be reimbursed for such advances, and therefore these advances are not a form of credit enhancement. - ----------------------------------------------------------------------------------------------------------------------------- SERVICING ADVANCES: The Servicer will pay all out-of-pocket costs related to its obligations, including, but not limited to: (i) expenses in connection with a foreclosed Mortgage Loan prior to the liquidation of such loan, (ii) the costs of any judicial proceedings, including foreclosures and (iii) the cost of managing and liquidating property acquired in relation to the Mortgage Loans, as long as it deems all such costs to be recoverable. The Servicer is entitled to be reimbursed for these advances, and therefore these advances are not a form of credit enhancement. - ----------------------------------------------------------------------------------------------------------------------------- COMPENSATING INTEREST: The Servicer is required to pay Compensating Interest up to the amount of the Servicing Fee to cover prepayment interest shortfalls ("Prepayment Interest Shortfalls") due to partial and/or full prepayments on the Mortgage Loans. - ----------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- CREDIT ENHANCEMENT - ----------------------------------------------------------------------------------------------------------------------------- CREDIT ENHANCEMENT: 1. Excess Spread 2. Overcollateralization 3. Subordination - ----------------------------------------------------------------------------------------------------------------------------- OVERCOLLATERALIZATION The Overcollateralization Amount with respect to any Distribution Date is the excess, if any, AMOUNT: of (a) the aggregate principal balance of the Mortgage Loans (including Mortgage Loans related to any REO Property) as of the last day of the related Due Period over (b) the sum of the aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates, after giving effect to distributions to be made on such Distribution Date. - ----------------------------------------------------------------------------------------------------------------------------- 5 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- CREDIT ENHANCEMENT - ----------------------------------------------------------------------------------------------------------------------------- OVERCOLLATERALIZATION The Overcollateralization Target Amount with respect to any Distribution Date is (a) prior to TARGET AMOUNT: the Stepdown Date, an amount equal to approximately 4.20% of the aggregate principal balance of the Mortgage Loans as of the Cut-off Date; (b) on or after the Stepdown Date, provided a Trigger Event is not in effect, the greater of (i) approximately 8.40% of the then current aggregate outstanding principal balance of the Mortgage Loans as of the last day of the related Due Period and (ii) the Overcollateralization Floor Amount; or (c) on or after the Stepdown Date and if a Trigger Event is in effect, the Overcollateralization Target Amount for the immediately preceding Distribution Date. Notwithstanding the foregoing, on and after any Distribution Date following the reduction of the aggregate Certificate Principal Balance of the Class A, Class M and Class P Certificates to zero, the Overcollateralization Target Amount will be zero. - ----------------------------------------------------------------------------------------------------------------------------- OVERCOLLATERALIZATION An amount equal to approximately 0.50% of the aggregate principal balance of the Mortgage FLOOR AMOUNT: Loans as of the Cut-off Date. - ----------------------------------------------------------------------------------------------------------------------------- OVERCOLLATERALIZATION An Overcollateralization Increase Amount with respect to any Distribution Date equals the INCREASE AMOUNT: lesser of (a) the Net Monthly Excess Cashflow for such Distribution Date and (b) the amount, if any, by which the Overcollateralization Target Amount exceeds the Overcollateralization Amount on such Distribution Date (calculated for this purpose only after assuming that 100% of the Principal Remittance Amount on such Distribution Date has been distributed). - ----------------------------------------------------------------------------------------------------------------------------- OVERCOLLATERALIZATION An Overcollateralization Reduction Amount with respect to any Distribution Date is the lesser REDUCTION AMOUNT: of (a) the Principal Remittance Amount on such Distribution Date and (b) the excess, if any, of (i) the Overcollateralization Amount for such Distribution Date (calculated for this purpose only after assuming that 100% of the Principal Remittance Amount on such Distribution Date has been distributed) over (ii) the Overcollateralization Target Amount for such Distribution Date. - ----------------------------------------------------------------------------------------------------------------------------- STEPDOWN DATE: The later to occur of (x) the Distribution Date occurring in April 2009 and (y) the first Distribution Date on which the Credit Enhancement Percentage (calculated for this purpose only prior to any distribution of the Principal Distribution Amount to the holders of the Certificates then entitled to distributions of principal on the related Distribution Date) is greater than or equal to approximately 47.20%. - ----------------------------------------------------------------------------------------------------------------------------- CREDIT ENHANCEMENT The Credit Enhancement Percentage for any Distribution Date is the percentage obtained by PERCENTAGE: dividing (x) the aggregate Certificate Principal Balance of the Mezzanine Certificates and the Class CE Certificates, calculated after taking into account payments of principal on the Mortgage Loans and distribution of the Principal Distribution Amount to the holders of the certificates then entitled to distributions of principal on the related Distribution Date, by (y) the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period. - ----------------------------------------------------------------------------------------------------------------------------- 6 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- CREDIT ENHANCEMENT - -------------------------------------------------------------------------------- TARGETED ON AND AFTER CLASS INITIAL STEPDOWN DATE ----- ------- --------------------- A 23.60 47.20 M-1 19.95 39.90 M-2 16.50 33.00 M-3 14.45 28.90 M-4 12.60 25.20 M-5 10.90 21.80 M-6 9.30 18.60 M-7 7.80 15.60 M-8 6.50 13.00 M-9 5.45 10.90 M-10 4.20 8.40 - ----------------------------------------------------------------------------------------------------------------------------- TRIGGER EVENT: With respect to any Distribution Date on or after the Stepdown Date, a Trigger Event is in effect if: 1) the percentage obtained by dividing (i) the Rolling Three-Month Delinquency Average plus the aggregate principal balance of the Mortgage Loans that, as of the last day of the previous calendar month, are in foreclosure, have been converted to REO Properties or have been discharged due to bankruptcy, by (ii) the aggregate principal balance of the Mortgage Loans (including Mortgage Loans related to REO Property) as of the last day of the previous calendar month, exceeds 33.40% of the then Credit Enhancement Percentage for the prior Distribution Date; or 2) the aggregate amount of Realized Losses incurred since the Cut-Off Date through the last day of the related Due Period (reduced by the aggregate amount of Subsequent Recoveries received since the Cut-Off Date through the last day of the related Due Period) divided by the aggregate principal balance of the Mortgage Loans as of the Cut-Off Date exceeds the applicable percentages set forth below with respect to such Distribution Date. ----------------------------- ---------- DISTRIBUTION DATE OCCURRING IN PERCENTAGE ----------------------------- ---------- April 2009 through March 2010 3.55% April 2010 through March 2011 5.55% April 2011 through March 2012 7.20% April 2012 and thereafter 7.70% 7 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- CREDIT ENHANCEMENT - ----------------------------------------------------------------------------------------------------------------------------- SUBSEQUENT RECOVERIES: Subsequent Recoveries are unanticipated amounts received on a liquidated Mortgage Loan that resulted in a Realized Loss in a prior month. If Subsequent Recoveries are received, they will be included as part of the Principal Remittance Amount for the following Distribution Date and distributed in accordance with the priorities described in this term sheet. In addition, after giving effect to all distributions on a Distribution Date, the amount of such Subsequent Recoveries will increase the Certificate Principal Balance first, of the Class A Certificates then outstanding, if a Realized Loss has been allocated to the Class A Certificates, on a pro-rata basis by the amount of such Subsequent Recoveries, and second, of the class of Mezzanine Certificates then outstanding with the highest distribution priority to which a Realized Loss was allocated. Thereafter, such class of Class A and Class M Certificates will accrue interest on the increased Certificate Principal Balance. - ----------------------------------------------------------------------------------------------------------------------------- REO PROPERTY: REO Property is mortgaged property acquired by the Servicer through foreclosure or deed-in-lieu of foreclosure. - ----------------------------------------------------------------------------------------------------------------------------- ROLLING THREE-MONTH With respect to any Distribution Date, the average aggregate principal balance of the DELINQUENCY AVERAGE: Mortgage Loans delinquent 60 days or more for each of the three (or one and two, in the case of the first and second Distribution Dates, respectively) immediately preceding months. - ----------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- DISTRIBUTION OF INTEREST - ----------------------------------------------------------------------------------------------------------------------------- INTEREST DISTRIBUTION On each Distribution Date, the Interest Remittance Amount will be distributed in the PRIORITY: following order of priority: - ----------------------------------------------------------------------------------------------------------------------------- 1) To the holders of each class of Class A Certificates, on a pro rata basis based on the entitlement of each such class, the Senior Interest Distribution Amount allocable to such class of Class A Certificates; and 2) Sequentially to the holders of the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates in that order, the Interest Distribution Amount allocable to each such class. - ----------------------------------------------------------------------------------------------------------------------------- 8 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- PRINCIPAL WATERFALL PRIOR TO STEPDOWN DATE OR IF A TRIGGER EVENT IS IN EFFECT - ----------------------------------------------------------------------------------------------------------------------------- PRINCIPAL DISTRIBUTION On each Distribution Date (a) prior to the Stepdown Date or (b) on which a Trigger Event is PRIORITY: in effect, the Principal Distribution Amount will be distributed in the following order of priority: 1) Sequentially, to the holders of the Class A-1, Class A-2, Class A-3 and Class A-4 Certificates, in that order, until the aggregate Certificate Principal Balance of each class of Class A Certificates has been reduced to zero, and; 2) Sequentially, to the holders of the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates, in that order, until the Certificate Principal Balance of each such class has been reduced to zero. Nothwithstanding the foregoing, if the Mezzanine Certificates are reduced to zero, principal distributions on the Class A Certificates will be allocated concurrently on a pro rata basis. - ----------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- PRINCIPAL WATERFALL ON OR AFTER STEPDOWN DATE AND WHEN NO TRIGGER EVENT IS IN EFFECT - ----------------------------------------------------------------------------------------------------------------------------- PRINCIPAL DISTRIBUTION On each Distribution Date (a) on or after the Stepdown Date and (b) on which a Trigger Event PRIORITY: is not in effect, the Principal Distribution Amount will be distributed in the following order of priority: 1) Sequentially, to the holders of the Class A-1, Class A-2, Class A-3 and Class A-4 Certificates, in that order, up to an amount equal to the Class A Principal Distribution Amount, until the aggregate Certificate Principal Balances of each class of Class A Certificates has been reduced to zero, and; 2) Sequentially, to the holders of the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates in that order, up to an amount equal to the related class Principal Distribution Amount until the Certificate Principal Balance of each such class has been reduced to zero. Nothwithstanding the foregoing, if the Mezzanine Certificates are reduced to zero, principal distributions on the Class A Certificates will be allocated concurrently on a pro rata basis. - ----------------------------------------------------------------------------------------------------------------------------- 9 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- EXCESS CASHFLOW WATERFALL - ----------------------------------------------------------------------------------------------------------------------------- MONTHLY EXCESS CASHFLOW With respect to any Distribution Date, any Net Monthly Excess Cashflow shall be paid as DISTRIBUTIONS: follows: 1) To the holders of the class or classes of Class A Certificates and Mezzanine Certificates then entitled to receive distributions in respect of principal, in an amount equal to the Overcollateralization Increase Amount, distributable as part of the Principal Distribution Amount; 2) Sequentially to the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates, in that order, in each case up to the related Interest Carry Forward Amount related to such certificates for such Distribution Date; 3) Concurrently, on a pro rata basis to the Class A-1, Class A-2, Class A-3 and Class A-4 Certificates, and then sequentially to the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates, in that order, in each case up to the related Allocated Realized Loss Amount for such class of certificates for such Distribution Date; 4) To the reserve account, for distribution to the holders of the Class A and Class M Certificates, the aggregate amount of any Net WAC Rate Carryover Amounts for such classes, after taking into account amounts, if any, received under the cap contracts; 5) To the holders of the Class CE Certificates as provided in the Pooling and Servicing Agreement; 6) To the holders of the Residual Certificates, any remaining amounts; provided that if such Distribution Date is the Distribution Date immediately following the expiration of the latest prepayment charge term or any Distribution Date thereafter, then any such remaining amounts will be distributed first, to the holders of the Class P Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and second, to the holders of the Residual Certificates. - ----------------------------------------------------------------------------------------------------------------------------- 10 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- ALLOCATION OF LOSSES - ----------------------------------------------------------------------------------------------------------------------------- LOSS ALLOCATION: Any Realized Losses on the Mortgage Loans will be allocated or covered on any Distribution Date first, by Net Monthly Excess Cash Flow; second, by the Class CE Certificates, until the Certificate Principal Balance of the Class CE Certificates has been reduced to zero; third, to the Class M-10 Certificates, until the Certificate Principal Balance of the Class M-10 Certificates has been reduced to zero; fourth, to the Class M-9 Certificates, until the Certificate Principal Balance of the Class M-9 Certificates has been reduced to zero; fifth, to the Class M-8 Certificates, until the Certificate Principal Balance of the Class M-8 Certificates has been reduced to zero; sixth, to the Class M-7 Certificates, until the Certificate Principal Balance of the Class M-7 Certificates has been reduced to zero; seventh, to the Class M-6 Certificates, until the Certificate Principal Balance of the Class M-6 Certificates has been reduced to zero; eighth, to the Class M-5 Certificates, until the Certificate Principal Balance of the Class M-5 Certificates has been reduced to zero; ninth, to the Class M-4 Certificates, until the Certificate Principal Balance of the Class M-4 Certificates has been reduced to zero; tenth, to the Class M-3 Certificates, until the Certificate Principal Balance of the Class M-3 Certificates has been reduced to zero; eleventh, to the Class M-2 Certificates, until the Certificate Principal Balance of the Class M-2 Certificates has been reduced to zero; twelfth, to the Class M-1 Certificates, until the Certificate Principal Balance of the Class M-1 Certificates has been reduced to zero; and thirteenth, concurrently, to the Class A-1, Class A-2, Class A-3 and Class A-4 Certificates on a pro rata basis based on the Certificate Principal Balance of each such class, until their respective Certificate Principal Balances have been reduced to zero. Once Realized Losses are allocated to the Class A and Mezzanine Certificates, such amounts with respect to the certificates will no longer accrue interest to the extent there are no Subsequent Recoveries allocated to the certificates. However, the amount of any Realized Losses allocated to the certificates may be distributed to the holders of those certificates from Net Monthly Excess Cashflow, as described in the Pooling and Servicing Agreement. - ----------------------------------------------------------------------------------------------------------------------------- 11 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- DERIVATIVES - ----------------------------------------------------------------------------------------------------------------------------- CAP CONTRACTS: The holders of the Class A Certificates and the holders of the Class M Certificates may benefit from a series of interest rate cap payments from Swiss Re Financial Products Corporation pursuant to two separate cap contracts, in each case refered to as the Class A Cap Contract and the Class M Cap Contract, respectively. The cap contracts are intended to partially mitigate for the first 33 Distribution Dates for the Class A Certificates and 38 Distribution Dates for the Class M Certificates beginning on the Distribution Date in April 2006, the interest rate risk that could result from the difference between (a) One Month LIBOR plus the related margin and (b) the Net WAC Pass-Through Rate. With respect to the Class A Certificates and each Distribution Date, payments under the related cap contract will be made based on (a) an amount equal to the Class A Cap Contract Notional Balance for that Distribution Date and (b) the positive excess of (i) the lesser of (x) One-Month LIBOR and (y) the Class A Ceiling Rate per annum, over (ii) the Class A Monthly Strike Rate for that Distribution Date, calculated on an actual/360-day basis. With respect to the Class M Certificates and each Distribution Date, payments under the related cap contract will be made based on (a) an amount equal to the Class M Cap Contract Notional Balance for that Distribution Date and (b) the positive excess of (i) the lesser of (x) One-Month LIBOR and (y) the Class M Ceiling Rate per annum, over (ii) the Class M Monthly Strike Rate for that Distribution Date, calculated on an actual/360-day basis. - ----------------------------------------------------------------------------------------------------------------------------- 12 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- DERIVATIVES - ----------------------------------------------------------------------------------------------------------------------------- CLASS A CAP CONTRACT With respect to any Distribution Date specified below and the cap contract relating to the NOTIONAL BALANCE: Class A Certificates, the lesser of (1) the aggregate Certificate Principal Balance of the Class A Certificates immediately prior to that Distribution Date, and (2) the amount specified below for that Distribution Date: -------------- -------------- -------------- -------------- DISTRIBUTION DISTRIBUTION DATE NOTIONAL DATE NOTIONAL -------------- -------------- -------------- -------------- April 2006 775,479,000.00 October 2007 423,169,590.00 May 2006 766,561,459.69 November 2007 404,297,407.17 June 2006 755,472,299.37 December 2007 364,799,575.44 July 2006 742,225,124.17 January 2008 327,884,448.06 August 2006 726,845,172.41 February 2008 293,598,331.58 September 2006 709,371,517.78 March 2008 261,657,484.36 October 2006 689,857,639.51 April 2008 231,908,049.50 November 2006 668,371,380.73 May 2008 216,653,637.93 December 2006 644,995,359.49 June 2008 201,991,545.81 January 2007 619,831,971.05 July 2008 187,812,786.92 February 2007 595,359,959.27 August 2008 174,103,464.32 March 2007 571,586,263.00 September 2008 160,845,382.34 April 2007 548,493,171.19 October 2008 148,021,658.52 May 2007 526,061,101.68 November 2008 135,600,586.01 June 2007 504,271,038.12 December 2008 122,273,227.52 July 2007 483,104,513.54 August 2007 462,543,656.57 September 2007 442,570,986.18 - ----------------------------------------------------------------------------------------------------------------------------- 13 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- DERIVATIVES - ----------------------------------------------------------------------------------------------------------------------------- CLASS A MONTHLY STRIKE With respect to each Distribution Date and the cap contract relating to the Class A RATE AND CLASS A Certificates, the Class A Monthly Strike Rate is the per annum rate set forth next to such CEILING RATE: Distribution Date in the applicable table below, in each case, subject to the related Class A Ceiling Rate: -------------- ------- ------- ------------- ------- ------- CLASS A CLASS A MONTHLY CLASS A MONTHLY CLASS A DISTRI0UTION STRIKE CEILING DISTRI0UTION STRIKE CEILING DATE RATE RATE DATE RATE RATE -------------- ------- ------- ------------- ------- ------- April 2006 7.314 10.850 October 2007 7.411 10.801 May 2006 7.562 10.850 November 2007 7.160 10.796 June 2006 7.312 10.849 December 2007 7.393 10.783 July 2006 7.560 10.848 January 2008 9.198 10.777 August 2006 7.310 10.846 February 2008 9.176 10.773 September 2006 7.308 10.845 March 2008 9.788 10.772 October 2006 7.555 10.843 April 2008 9.107 10.771 November 2006 7.304 10.841 May 2008 9.409 10.771 December 2006 7.550 10.838 June 2008 9.090 10.770 January 2007 7.299 10.835 July 2008 9.527 10.769 February 2007 7.199 10.832 August 2008 9.204 10.769 March 2007 7.985 10.829 September 2008 9.195 10.768 April 2007 7.192 10.826 October 2008 9.249 10.767 May 2007 7.433 10.822 November 2008 8.934 10.765 June 2007 7.184 10.818 December 2008 9.247 10.764 July 2007 7.426 10.814 August 2007 7.176 10.810 September 2007 7.171 10.806 - ----------------------------------------------------------------------------------------------------------------------------- 14 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- DERIVATIVES - ----------------------------------------------------------------------------------------------------------------------------- CLASS M CAP CONTRACT With respect to any Distribution Date specified below and the cap contract relating to the NATIONAL BALANCE: Class M Certificates, the lesser of (1) the aggregate Certificate Principal Balance of the Class M Certificates immediately prior to that Distribution Date, and (2) the amount specified below for that Distribution Date: -------------- -------------- -------------- -------------- DISTRIBUTION DISTRIBUTION DATE NOTIONAL DATE NOTIONAL -------------- -------------- -------------- -------------- April 2006 196,913,000.00 November 2007 196,913,000.00 May 2006 196,913,000.00 December 2007 196,913,000.00 June 2006 196,913,000.00 January 2008 196,913,000.00 July 2006 196,913,000.00 February 2008 196,913,000.00 August 2006 196,913,000.00 March 2008 196,913,000.00 September 2006 196,913,000.00 April 2008 196,913,000.00 October 2006 196,913,000.00 May 2008 196,913,000.00 November 2006 196,913,000.00 June 2008 196,913,000.00 December 2006 196,913,000.00 July 2008 196,913,000.00 January 2007 196,913,000.00 August 2008 196,913,000.00 February 2007 196,913,000.00 September 2008 196,913,000.00 March 2007 196,913,000.00 October 2008 196,913,000.00 April 2007 196,913,000.00 November 2008 196,913,000.00 May 2007 196,913,000.00 December 2008 196,913,000.00 June 2007 196,913,000.00 January 2009 196,913,000.00 July 2007 196,913,000.00 February 2009 196,913,000.00 August 2007 196,913,000.00 March 2009 196,913,000.00 September 2007 196,913,000.00 April 2009 196,913,000.00 October 2007 196,913,000.00 May 2009 196,913,000.00 - ----------------------------------------------------------------------------------------------------------------------------- 15 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- DERIVATIVES - ----------------------------------------------------------------------------------------------------------------------------- CLASS M MONTHLY STRIKE With respect to each Distribution Date and the cap contract relating to the Class M RATE AND CEILING RATE: Certificates, the Class M Monthly Strike Rate is the per annum rate set forth next to such Distribution Date in the applicable table below, in each case, subject to the related Class M Ceiling Rate: -------------- ------- ------- -------------- ------- ------- CLASS M CLASS M MONTHLY CLASS M MONTHLY CLASS M DISTRIBUTION STRIKE CEILING DISTRIBUTION STRIKE CEILING DATE RATE RATE DATE RATE RATE -------------- ------- ------- -------------- ------- ------- April 2006 6.513 10.050 November 2007 6.414 10.050 May 2006 6.762 10.050 December 2007 6.659 10.050 June 2006 6.513 10.050 January 2008 8.471 10.050 July 2006 6.762 10.050 February 2008 8.453 10.050 August 2006 6.513 10.050 March 2008 9.065 10.050 September 2006 6.513 10.050 April 2008 8.385 10.050 October 2006 6.762 10.050 May 2008 8.688 10.050 November 2006 6.513 10.050 June 2008 8.370 10.050 December 2006 6.761 10.050 July 2008 8.807 10.050 January 2007 6.513 10.050 August 2008 8.485 10.050 February 2007 6.416 10.050 September 2008 8.477 10.050 March 2007 7.205 10.050 October 2008 8.532 10.050 April 2007 6.416 10.050 November 2008 8.218 10.050 May 2007 6.661 10.050 December 2008 8.533 10.050 June 2007 6.415 10.050 January 2009 8.290 10.050 July 2007 6.661 10.050 February 2009 8.296 10.050 August 2007 6.415 10.050 March 2009 9.284 10.050 September 2007 6.415 10.050 April 2009 8.290 10.050 October 2007 6.660 10.050 May 2009 8.590 10.050 - ----------------------------------------------------------------------------------------------------------------------------- 16 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- DISTRIBUTIONS OF NET WAC RATE CARRYOVER AMOUNTS - ----------------------------------------------------------------------------------------------------------------------------- DISTRIBUTION OF NET WAC RATE On each Distribution Date, to the extent required following the distribution of the Available CARRYOVER AMOUNTS: Distribution Amount, the Trustee will withdraw from amounts in the reserve account to distribute to the holders of the Class A Certificates and Mezzanine Certificates any Net WAC Rate Carryover Amounts in the following order of priority, in each case to the extent of amounts remaining in the reserve account in the following order of priority: (A) concurrently, to the Class A Certificates, on a pro rata basis based on the outstanding balance of each such class immediately prior to the Distribution Date, but only to the extent of amounts paid under the Class A Cap Contract and only up to the related Net WAC Rate Carryover Amount; (B) concurrently, to the Class M Certificates, on a pro rata basis based on the outstanding balance of each such class immediately prior to the Distribution Date, but only to the extent of amounts paid under the Class M Cap Contract and only up to the related Net WAC Rate Carryover Amount; (C) to the Class A Certificates, any related unpaid Net WAC Rate Carryover Amount (after taking into account distributions pursuant to (A) above), distributed on a pro rata basis based on the remaining undistributed Net WAC Rate Carryover Amount, but only to the extent of amounts remaining under the Class A Cap Contract; (D) to the Class M Certificates, any related unpaid Net WAC Rate Carryover Amount (after taking into account distributions pursuant to (B) above), distributed on a pro rata basis based on the remaining undistributed Net WAC Rate Carryover Amount, but only to the extent of amounts remaining under the Class M Cap Contract; (E) to the Class A Certificates and Class M Certificates from Net Monthly Excess Cash Flow, any related unpaid Net WAC Rate Carryover Amount (after taking into account distributions pursuant to (A) through (D) above), distributed in the following order of priority: (i) to the Class A Certificates, on a pro rata basis based first on the outstanding certificate principal balance immediately prior to the Distribution Date, and second on such remaining undistributed Net WAC Rate Carryover Amount, (ii) sequentially to the Class M Certificates any such remaining undistributed Net WAC Rate Carryover Amount for each class. - ----------------------------------------------------------------------------------------------------------------------------- 17 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- DEFINITIONS - ----------------------------------------------------------------------------------------------------------------------------- AVAILABLE DISTRIBUTION For any Distribution Date an amount equal to the sum of the following amounts, net of AMOUNT: amounts reimbursable therefrom and payable to the servicer and the trustee: (i) the aggregate amount of scheduled monthly payments on the Mortgage Loans due on the related Due Date and received on or prior to the related Determination Date, after deduction of the servicing fee and the trustee fee; (ii) unscheduled payments in respect of the Mortgage Loans, including prepayments, insurance proceeds, liquidation proceeds, Subsequent Recoveries and proceeds from repurchases of and substitutions for the Mortgage Loans occurring during the related Prepayment Period; (iii) all payments of Compensating Interest made by the servicer with respect to the Mortgage Loans; and (iv) all Advances with respect to the Mortgage Loans received for the Distribution Date. In addition, certificateholders will be entitled to amounts, if any, available under the cap contracts related to interest rate risk that could result from the difference between (a) One Month LIBOR plus the related margin and (b) the Net WAC Pass-Through Rate. - ----------------------------------------------------------------------------------------------------------------------------- CERTIFICATE PRINCIPAL With respect to any class of Class A Certificates and Mezzanine Certificates and any date of BALANCE: determination, an amount equal to its initial certificate principal balance, reduced by the aggregate of (a) all amounts allocable to principal previously distributed with respect to that class of certificates and (b) with respect to any Class A Certificate and Mezzanine Certificate, any reductions in its certificate principal balance in connection with the allocation of Realized Losses (taking into account any increases in the certificate principal balance thereof due to the receipt of Subsequent Recoveries). The Certificate Principal Balance of the Class CE Certificates as of any date of determination is equal to the excess, if any, of the then aggregate principal balance of the Mortgage Loans over the then aggregate Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class P Certificates. - ----------------------------------------------------------------------------------------------------------------------------- CLASS A PRINCIPAL DISTRIBUTION The Class A Principal Distribution Amount is an amount equal to the excess of: AMOUNT: o the aggregate Certificate Principal Balance of the Class A Certificates immediately prior to the related Distribution Date over o the lesser of (A) the product of (i) the applicable Subordination Percentage and (ii) the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period and (B) the excess if any of, the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period over the Overcollateralization Floor Amount. - ----------------------------------------------------------------------------------------------------------------------------- 18 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- DEFINITIONS - ----------------------------------------------------------------------------------------------------------------------------- CLASS M-1 PRINCIPAL The Class M-1 Principal Distribution Amount is an amount equal to the excess of: DISTRIBUTION AMOUNT: o the sum of (i) the aggregate Certificate Principal Balance of the Class A Certificates after taking into account the distribution of the Class A Principal Distribution Amount on the related Distribution Date and (ii) the Certificate Principal Balance of the Class M-1 Certificates immediately prior to the related Distribution Date over o the lesser of (A) the product of (i) the applicable Subordination Percentage and (ii) the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period and (B) the excess if any, of the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period over the Overcollateralization Floor Amount. - ----------------------------------------------------------------------------------------------------------------------------- CLASS M-2 PRINCIPAL The Class M-2 Principal Distribution Amount is an amount equal to the excess of: DISTRIBUTION AMOUNT: o the sum of (i) the aggregate Certificate Principal Balance of the Class A Certificates after taking into account the distribution of the Class A Principal Distribution Amount on the related Distribution Date, (ii) the Certificate Principal Balance of the Class M-1 Certificates after taking into account the distribution of the Class M-1 Principal Distribution Amount on the related Distribution Date and (iii) the Certificate Principal Balance of the Class M-2 Certificates immediately prior to the related Distribution Date over o the lesser of (A) the product of (i) the applicable Subordination Percentage and (ii) the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period and (B) the excess if any, of the aggrengate principal balance of the Mortgage Loans as of the last day of the related Due Period over the Overcollateralization Floor Amount. - ----------------------------------------------------------------------------------------------------------------------------- CLASS M-3 PRINCIPAL The Class M-3 Principal Distribution Amount is an amount equal to the excess of: DISTRIBUTION AMOUNT: o the sum of (i) the aggregate Certificate Principal Balance of the Class A Certificates after taking into account the distribution of the Class A Principal Amount on the related Distribution Date, (ii) the Certificate Principal Balance of the Class M-1 Certificates after taking into account the distribution of the Class M-1 Principal Distribution Amount on the related Distribution Date, (iii) the Certificate Principal Balance of the Class M-2 Certificates after taking into account the distribution of the Class M-2 Principal Distribution Amount on the related Distribution Date and (iv) the Certificate Principal Balance of the Class M-3 Certificates immediately prior to the related Distribution Date over o the lesser of (A) the product of (i) the applicable Subordination Percentage and (ii) the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period and (B) the excess if any, of the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period over the Overcollateralization Floor Amount. - ----------------------------------------------------------------------------------------------------------------------------- 19 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- DEFINITIONS - ----------------------------------------------------------------------------------------------------------------------------- CLASS M-4 PRINCIPAL The Class M-4 Principal Distribution Amount is an amount equal to the excess of: DISTRIBUTION AMOUNT: o the sum of (i) the aggregate Certificate Principal Balance of the Class A Certificates after taking into account the distribution of the Class A Principal Distribution Amount on the related Distribution Date, (ii) the Certificate Principal Balance of the Class M-1 Certificates after taking into account the distribution of the Class M-1 Principal Distribution Amount on the related Distribution Date, (iii) the Certificate Principal Balance of the Class M-2 Certificates after taking into account the distribution of the Class M-2 Principal Distribution Amount on the related Distribution Date, (iv) the Certificate Principal Balance of the Class M-3 Certificates after taking into account the distribution of the Class M-3 Principal Distribution Amount on the related Distribution Date and (v) the Certificate Principal Balance of the Class M-4 Certificate immediately prior to the related Distribution Date over o the lesser of (A) the product of (i) the applicable Subordination Percentage and (ii) the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period and (B) the excess if any, of the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period over the Overcollateralization Floor Amount. - ----------------------------------------------------------------------------------------------------------------------------- CLASS M-5 PRINCIPAL The Class M-5 Principal Distribution Amount is an amount equal to the excess of: DISTRIBUTION AMOUNT: o the sum of (i) the aggregate Certificate Principal Balance of the Class A Certificates after taking into account the distribution of the Class A Principal Distribution Amount on the related Distribution Date, (ii) the Certificate Principal Balance of the Class M-1 Certificates after taking into account the distribution of the Class M-1 Principal Distribution Amount on the related Distribution Date, (iii) the Certificate Principal Balance of the Class M-2 Certificates after taking into account the distribution of the Class M-2 Principal Distribution Amount on the related Distribution Date, (iv) the Certificate Principal Balance of the Class M-3 Certificates after taking into account the distribution of the Class M-3 Principal Distribution Amount on the related Distribution Date, (v) the Certificate Principal Balance of the Class M-4 Certificates after taking into account the distribution of the Class M-4 Principal Distribution Amount on the related Distribution Date and (vi) the Certificate Principal Balance of the Class M-5 Certificates immediately prior to the related Distribution Date over o the lesser of (A) the product of (i) the applicable Subordination Percentage and (ii) the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period and (B) the excess if any, of the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period over the Overcollateralization Floor Amount. - ----------------------------------------------------------------------------------------------------------------------------- 20 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- DEFINITIONS - ----------------------------------------------------------------------------------------------------------------------------- CLASS M-6 PRINCIPAL The Class M-6 Principal Distribution Amount is an amount equal to the excess of: DISTRIBUTION AMOUNT: o the sum of (i) the aggregate Certificate Principal Balance of the Class A Certificates after taking into account the distribution of the Class A Principal Distribution Amount on the related Distribution Date, (ii) the Certificate Principal Balance of the Class M-1 Certificates after taking into account the distribution of the Class M-1 Principal Distribution Amount on the related Distribution Date, (iii) the Certificate Principal Balance of the Class M-2 Certificates after taking into account the distribution of the Class M-2 Principal Distribution Amount on the related Distribution Date, (iv) the Certificate Principal Balance of the Class M-3 Certificates after taking into account the distribution of the Class M-3 Principal Distribution Amount on the related Distribution Date, (v) the Certificate Principal Balance of the Class M-4 Certificates after taking into account the distribution of the Class M-4 Principal Distribution Amount on the related Distribution Date, (vi) the Certificate Principal Balance of the Class M-5 Certificates after taking into account the distribution of the Class M-5 Principal Distribution Amount on the related Distribution Date and (vii) the Certificate Principal Balance of the Class M-6 Certificates immediately prior to the related Distribution Date over o the lesser of (A) the product of (i) the applicable Subordination Percentage and (ii) the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period and (B) the excess if any, of the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period over the Overcollateralization Floor Amount. - ----------------------------------------------------------------------------------------------------------------------------- 21 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- DEFINITIONS - ----------------------------------------------------------------------------------------------------------------------------- CLASS M-7 PRINCIPAL The Class M-7 Principal Distribution Amount is an amount equal to the excess of: DISTRIBUTION AMOUNT: o the sum of (i) the aggregate Certificate Principal Balance of the Class A Certificate after taking into account the distribution of the Class A Principal Distribution Amount on the related Distribution Date, (ii) the Certificate Principal Balance of the Class M-1 Certificates after taking into account the distribution of the Class M-1 Principal Distribution Amount on the related Distribution Date, (iii) the Certificate Principal Balance of the Class M-2 Certificates after taking into account the distribution of the Class M-2 Principal Distribution Amount on the related Distribution Date, (iv) the Certificate Principal Balance of the Class M-3 Certificates after taking into account the distribution of the Class M-3 Principal Distribution Amount on the related Distribution Date, (v) the Certificate Principal Balance of the Class M-4 Certificates after taking into account the distribution of the Class M-4 Principal Distribution Amount on the related Distribution Date, (vi) the Certificate Principal Balance of the Class M-5 Certificates after taking into account the distribution of the Class M-5 Principal Distribution Amount on the related Distribution Date, (vii) the Certificate Principal Balance of the Class M-6 Certificates after taking into account the distribution of the Class M-6 Principal Distribution Amount on the related Distribution Date and (viii) the Certificate Principal Balance of the Class M-7 Certificates immediately prior to the related Distribution Date over o the lesser of (A) the product of (i) the applicable Subordination Percentage and (ii) the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period and (B) the excess if any, of the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period over the Overcollateralization Floor Amount. - ----------------------------------------------------------------------------------------------------------------------------- 22 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- DEFINITIONS - ----------------------------------------------------------------------------------------------------------------------------- CLASS M-8 PRINCIPAL The Class M-8 Principal Distribution Amount is an amount equal to the excess of: DISTRIBUTION AMOUNT: o the sum of (i) the aggregate Certificate Principal Balance of the Class A Certificate after taking into account the distribution of the Class A Principal Distribution Amount on the related Distribution Date, (ii) the Certificate Principal Balance of the Class M-1 Certificates after taking into account the distribution of the Class M-1 Principal Distribution Amount on the related Distribution Date, (iii) the Certificate Principal Balance of the Class M-2 Certificates after taking into account the distribution of the Class M-2 Principal Distribution Amount on the related Distribution Date, (iv) the Certificate Principal Balance of the Class M-3 Certificates after taking into account the distribution of the Class M-3 Principal Distribution Amount on the related Distribution Date, (v) the Certificate Principal Balance of the Class M-4 Certificates after taking into account the distribution of the Class M-4 Principal Distribution Amount on the related Distribution Date, (vi) the Certificate Principal Balance of the Class M-5 Certificates after taking into account the distribution of the Class M-5 Principal Distribution Amount on the related Distribution Date, (vii) the Certificate Principal Balance of the Class M-6 Certificates after taking into account the distribution of the Class M-6 Principal Distribution Amount on the related Distribution Date, (viii) the Certificate Principal Balance of the Class M-7 Certificates after taking into account the distribution of the Class M-7 Principal Distribution Amount on the related Distribution Date and (ix) the Certificate Principal Balance of the Class M-8 Certificates immediately prior to the related Distribution Date over o the lesser of (A) the product of (i) the applicable Subordination Percentage and (ii) the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period and (B) the excess if any, of the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period over the Overcollateralization Floor Amount. - ----------------------------------------------------------------------------------------------------------------------------- 23 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- DEFINITIONS - ----------------------------------------------------------------------------------------------------------------------------- CLASS M-9 PRINCIPAL The Class M-9 Principal Distribution Amount is an amount equal to the excess of: DISTRIBUTION AMOUNT: o the sum of (i) the aggregate Certificate Principal Balance of the Class A Certificate after taking into account the distribution of the Class A Principal Distribution Amount on the related Distribution Date, (ii) the Certificate Principal Balance of the Class M-1 Certificates after taking into account the distribution of the Class M-1 Principal Distribution Amount on the related Distribution Date, (iii) the Certificate Principal Balance of the Class M-2 Certificates after taking into account the distribution of the Class M-2 Principal Distribution Amount on the related Distribution Date, (iv) the Certificate Principal Balance of the Class M-3 Certificates after taking into account the distribution of the Class M-3 Principal Distribution Amount on the related Distribution Date, (v) the Certificate Principal Balance of the Class M-4 Certificates after taking into account the distribution of the Class M-4 Principal Distribution Amount on the related Distribution Date, (vi) the Certificate Principal Balance of the Class M-5 Certificates after taking into account the distribution of the Class M-5 Principal Distribution Amount on the related Distribution Date, (vii) the Certificate Principal Balance of the Class M-6 Certificates after taking into account the distribution of the Class M-6 Principal Distribution Amount on the related Distribution Date, (viii) the Certificate Principal Balance of the Class M-7 Certificates after taking into account the distribution of the Class M-7 Principal Distribution Amount on the related Distribution Date, (ix) the Certificate Principal Balance of the Class M-8 Certificates after taking into account the distribution of the Class M-8 Principal Distribution Amount on the related Distribution Date and (x) the Certificate Principal Balance of the Class M-9 Certificates immediately prior to the related Distribution Date over o the lesser of (A) the product of (i) the applicable Subordination Percentage and (ii) the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period and (B) the excess if any, of the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period over the Overcollateralization Floor Amount. - ----------------------------------------------------------------------------------------------------------------------------- 24 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- DEFINITIONS - ----------------------------------------------------------------------------------------------------------------------------- CLASS M-10 PRINCIPAL The Class M-10 Principal Distribution Amount is an amount equal to the excess of: DISTRIBUTION AMOUNT: o the sum of (i) the aggregate Certificate Principal Balance of the Class A Certificate after taking into account the distribution of the Class A Principal Distribution Amount on the related Distribution Date, (ii) the Certificate Principal Balance of the Class M-1 Certificates after taking into account the distribution of the Class M-1 Principal Distribution Amount on the related Distribution Date, (iii) the Certificate Principal Balance of the Class M-2 Certificates after taking into account the distribution of the Class M-2 Principal Distribution Amount on the related Distribution Date, (iv) the Certificate Principal Balance of the Class M-3 Certificates after taking into account the distribution of the Class M-3 Principal Distribution Amount on the related Distribution Date, (v) the Certificate Principal Balance of the Class M-4 Certificates after taking into account the distribution of the Class M-4 Principal Distribution Amount on the related Distribution Date, (vi) the Certificate Principal Balance of the Class M-5 Certificates after taking into account the distribution of the Class M-5 Principal Distribution Amount on the related Distribution Date and (vii) the Certificate Principal Balance of the Class M-6 Certificates after taking into account the distribution of the Class M-6 Principal Distribution Amount on the related Distribution Date (viii) the Certificate Principal Balance of the Class M-7 Certificates after taking into account the distribution of the Class M-7 Principal Distribution Amount on the related Distribution Date, (ix) the Certificate Principal Balance of the Class M-8 Certificates after taking into account the distribution of the Class M-8 Principal Distribution Amount on the related Distribution Date, (x) the Certificate Principal Balance of the Class M-9 Certificates after taking into account the distribution of the Class M-9 Principal Distribution Amount on the related Distribution Date and (xi) the Certificate Principal Balance of the Class M-10 Certificates immediately prior to the related Distribution Date over o the lesser of (A) the product of (i) the applicable Subordination Percentage and (ii) the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period and (B) the excess if any, of the aggregate principal balance of the Mortgage Loans as of the last day of the related Due Period over the Overcollateralization Floor Amount. - ----------------------------------------------------------------------------------------------------------------------------- DETERMINATION DATE: The Determination Date with respect to any Distribution Date will be the 15th day of the calendar month in which such Distribution Date occurs or, if such 15th day is not a business day, the business day immediately preceding such 15th day. - ----------------------------------------------------------------------------------------------------------------------------- EXPENSE ADJUSTED MORTGAGE The Expense Adjusted Mortgage Rate for any Mortgage Loan and any Distribution Date will be a RATE: per annum rate equal to the then applicable mortgage rate for such Mortgage Loan as of the first day of the related Due Period minus the sum of the applicable Servicing Fee Rate and the Trustee Fee Rate. - ----------------------------------------------------------------------------------------------------------------------------- 25 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- DEFINITIONS - ----------------------------------------------------------------------------------------------------------------------------- FORMULA RATE: The Formula Rate for any class of Class A and Class M Certificates is One-Month LIBOR plus the related margin. The related margin shall increase on any Distribution Date after the date on which the Optional Termination is in effect and not exercised by an amount equal to (i) 2.0 times the related margin for each Class A Certificate, and (ii) 1.5 times for any Class M Certificate. - ----------------------------------------------------------------------------------------------------------------------------- INTEREST CARRY FORWARD The Interest Carry Forward Amount with respect to any class of Class A Certificates and AMOUNT: Mezzanine Certificates and any Distribution Date is equal to the amount, if any, by which the Interest Distribution Amount for that class of certificates for the immediately preceding Distribution Date exceeded the actual amount distributed on the certificates in respect of interest on the immediately preceding Distribution Date, together with any Interest Carry Forward Amount with respect to that class of certificates remaining undistributed from the previous Distribution Date, plus interest accrued thereon at the related Pass-Through Rate on the certificates for the most recently ended Interest Accrual Period. - ----------------------------------------------------------------------------------------------------------------------------- INTEREST DISTRIBUTION AMOUNT: The Interest Distribution Amount for the Class A Certificates and Mezzanine Certificates on any Distribution Date is equal to interest accrued during the related Interest Accrual Period on the Certificate Principal Balance of that class immediately prior to the Distribution Date at the Pass-Through Rate for that class, reduced (to not less than zero) by the allocable share, if any, for that class of Prepayment Interest Shortfalls to the extent not covered by Compensating Interest paid by the servicer or excess interest and shortfalls resulting from the application of the Relief Act. - ----------------------------------------------------------------------------------------------------------------------------- INTEREST REMITTANCE The Interest Remittance Amount for any Distribution Date is that portion of the Available AMOUNT: Distribution Amount for that Distribution Date that represents interest received or advanced on the Mortgage Loans. - ----------------------------------------------------------------------------------------------------------------------------- NET MONTHLY EXCESS CASH FLOW: The Net Monthly Excess Cash Flow for any Distribution Date is equal to the sum of (a) any Overcollateralization Reduction Amount and (b) the excess of: (i) the Available Distribution Amount for the related Distribution Date, over (ii) the sum for the related Distribution Date of (a) the Senior Interest Distribution Amount distributable to the holders of the Class A Certificates, (b) the Interest Distribution Amount distributable to the holders of the Mezzanine Certificates and (c) the Principal Remittance Amount. - ----------------------------------------------------------------------------------------------------------------------------- NET WAC PASS-THROUGH RATE: The Net WAC Pass-Through Rate for any Distribution Date and the Class A Certificates and Mezzanine Certificates is a rate per annum (adjusted for the actual number of days in the related Interest Accrual Period) equal to the weighted average of the Expense Adjusted Mortgage Rates on the then outstanding Mortgage Loans, weighted based on their principal balances as of the first day of the related Due Period. - ----------------------------------------------------------------------------------------------------------------------------- 26 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- DEFINITIONS - ----------------------------------------------------------------------------------------------------------------------------- NET WAC RATE CARRYOVER For any Distribution Date and any Class A Certificates or Mezzanine Certificates, an amount AMOUNT: equal to the sum of (i) the excess of (x) the amount of interest such class would have accrued for such Distribution Date had the applicable Pass-Through Rate not been subject to the Net WAC Pass-Through Rate, over (y) the amount of interest such class of Certificates accrued for such Distribution Date at the Net WAC Pass-Through Rate, (ii) the undistributed portion of any such amounts from the prior Distribution Date and (iii) accrued interest on the amounts described in clause (ii) at the then applicable Pass-Through Rate, without giving effect to the Net WAC Pass-Through Rate. The ratings on each class of Certificates do not address the likelihood of the Distribution of any Net WAC Rate Carryover Amount. - ----------------------------------------------------------------------------------------------------------------------------- PASS-THROUGH RATES: With respect to each class of Class A and Class M Certificates and any Distribution Date, the lesser of (i) the Formula Rate and (ii) the Net WAC Pass-Through Rate. - ----------------------------------------------------------------------------------------------------------------------------- PRINCIPAL DISTRIBUTION AMOUNT: The Principal Distribution Amount for any Distribution Date will be an amount, not less than zero, equal to the sum of (i) the principal portion of all scheduled monthly distributions on the Mortgage Loans due during the related Due Period, whether or not received on or prior to the related Determination Date; (ii) the principal portion of all proceeds received in respect of the repurchase of a Mortgage Loan or, in the case of a substitution, certain amounts representing a principal adjustment, as required by the Pooling and Servicing Agreement during the related Prepayment Period; (iii) the principal portion of all other unscheduled collections, including insurance proceeds, liquidation proceeds and all full and partial principal prepayments, received during the related Prepayment Period net of reimbursements, including reimbursements to the Trustee and the Servicer, to the extent applied as recoveries of principal on the Mortgage Loans, and (iv) the amount of any Overcollateralization Increase Amount for such Distribution Date minus any Overcollateralization Reduction Amount. - ----------------------------------------------------------------------------------------------------------------------------- PRINCIPAL REMITTANCE AMOUNT: The Principal Remittance Amount for any Distribution Date is the sum of the amounts described in clauses (i) through (iii) of the definition of Principal Distribution Amount. - ----------------------------------------------------------------------------------------------------------------------------- SENIOR INTEREST DISTRIBUTION The Senior Interest Distribution Amount for any Distribution Date is equal to the sum of the AMOUNT: Interest Distribution Amount for that Distribution Date for the Class A Certificates and the Interest Carry Forward Amount, if any, for that Distribution Date for the Class A Certificates. - ----------------------------------------------------------------------------------------------------------------------------- 27 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------- DEFINITIONS - ----------------------------------------------------------------------------------------------------------------------------- SUBORDINATION With respect to each class of Class A and Class M Certificates, the applicable approximate PERCENTAGE: percentage set forth in the table below. ----- ---------- CLASS PERCENTAGE ----- ---------- A 52.80 M-1 60.10 M-2 67.00 M-3 71.10 M-4 74.80 M-5 78.20 M-6 81.40 M-7 84.40 M-8 87.00 M-9 89.10 M-10 91.60 - ----------------------------------------------------------------------------------------------------------------------------- 28 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (TOTAL COLLATERAL) - -------------------------------------------------------------------------------- COLLATERAL SUMMARY - -------------------------------------------------------------------------------- Statistics for the Mortgage Loans listed below are based on the Cut-off Date scheduled balances SCHEDULED PRINCIPAL BALANCE: $1,015,025,383.08 NUMBER OF MORTGAGE LOANS: 4,736 AVERAGE SCHEDULED PRINCIPAL BALANCE: $ 214,321.24 WEIGHTED AVERAGE GROSS COUPON: 8.015% WEIGHTED AVERAGE ORIGINAL CREDIT SCORE(3): 609 WEIGHTED AVERAGE ORIGINAL LTV RATIO(2): 78.15% WEIGHTED AVERAGE COMBINED LTV RATIO: 81.23% WEIGHTED AVERAGE STATED REMAINING TERM (MONTHS): 356 WEIGHTED AVERAGE ORIGINAL TERM (MONTHS): 359 WEIGHTED AVERAGE ROLL TERM(1) (MONTHS): 26 WEIGHTED AVERAGE GROSS MARGIN(1): 6.199% WEIGHTED AVERAGE INITIAL RATE CAP(1): 2.989% WEIGHTED AVERAGE PERIODIC RATE CAP(1): 1.000% INTEREST ONLY LOANS: 18.95% SILENT SECONDS: 15.88% - -------------------------------------------------------------------------------- (1) Includes adjustable-rate Mortgage Loans only. (2) The loan-to-value ("OLTV") at any given time is a fraction, expressed as a percentage, the numerator of which is the sum of (a) the principal balance of such mortgage loan at the date of origination plus (b) the outstanding balance of the senior mortgage loan at the date of origination of such mortgage loan and the denominator of which is (ii) the lesser of the sales price of the related mortgage property and its appraised value determined in an appraisal obtained by the originator at origination of the mortgage loan. (3) Does not include loans with no credit score available. 29 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (TOTAL COLLATERAL) PRODUCT TYPE OF THE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS PRODUCT TYPE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 6M ARM 4 $ 815,477.23 0.08% $ 203,869.31 560 76.42% 7.085% 2/13 ARM 7 479,382.07 0.05 68,483.15 584 75.27 9.093 2/28 ARM 2,421 467,306,214.25 46.04 193,021.98 591 80.22 8.471 2/28 ARM 5YR IO 513 160,310,879.54 15.79 312,496.84 637 87.93 7.412 2YR_ARM_BAL 533 146,591,092.43 14.44 275,030.19 614 83.59 7.616 3/27 ARM 67 12,859,337.49 1.27 191,930.41 597 78.53 8.356 3/27 ARM 5YR IO 20 7,386,497.94 0.73 369,324.90 656 82.38 7.103 3YR_ARM_BAL 20 5,332,809.66 0.53 266,640.48 624 82.83 7.373 5/25 ARM 90 21,029,445.08 2.07 233,660.50 619 77.92 7.766 5/25 ARM 5YR IO 44 14,494,202.20 1.43 329,413.69 645 82.17 6.809 5YR_ARM_BAL 46 12,802,202.04 1.26 278,308.74 615 77.94 7.530 15/15 ARM 2 154,811.96 0.02 77,405.98 568 86.16 10.467 10 Fixed 2 152,565.79 0.02 76,282.90 612 53.35 8.907 15 Fixed 29 3,498,908.19 0.34 120,652.01 609 66.16 8.101 20 Fixed 19 1,746,056.81 0.17 91,897.73 597 71.61 8.394 30 Fixed 767 118,590,060.86 11.68 154,615.46 619 76.62 8.049 30 Fixed (Rate Reduction) 18 2,046,272.32 0.20 113,681.80 561 69.44 10.649 FIX_BAL 103 29,264,952.82 2.88 284,125.76 632 76.36 7.127 30 Fixed 5YR IO 31 10,164,214.40 1.00 327,877.88 641 76.76 7.197 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 4,736 $ 1,015,025,383.08 100.00% $ 214,321.24 609 81.23% 8.015% - ---------------------------------------------------------------------------------------------------------------------------------- 30 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (TOTAL COLLATERAL) CURRENT GROSS MORTGAGE RATE OF THE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS CURRENT GROSS MORTGAGE RATE (%) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 5.000-5.499 2 $ 702,210.82 0.07% $ 351,105.41 650 70.20% 5.408% 5.500-5.999 52 21,962,826.19 2.16 422,362.04 640 70.28 5.806 6.000-6.499 201 63,643,052.80 6.27 316,632.10 639 78.99 6.296 6.500-6.999 475 160,888,931.15 15.85 338,713.54 633 78.91 6.781 7.000-7.499 457 130,772,075.56 12.88 286,153.34 628 80.90 7.254 7.500-7.999 694 178,095,830.58 17.55 256,622.23 616 82.67 7.757 8.000-8.499 627 140,446,948.38 13.84 223,998.32 602 82.79 8.242 8.500-8.999 705 126,266,830.22 12.44 179,101.89 593 83.55 8.741 9.000-9.499 373 61,264,294.83 6.04 164,247.44 585 83.44 9.238 9.500-9.999 415 59,135,756.66 5.83 142,495.80 567 80.56 9.738 10.000-10.499 208 26,095,918.38 2.57 125,461.15 563 81.65 10.217 10.500-10.999 211 21,941,503.48 2.16 103,988.17 560 80.22 10.744 11.000-11.499 124 9,570,273.36 0.94 77,179.62 561 79.57 11.227 11.500-11.999 118 9,370,558.62 0.92 79,411.51 553 79.79 11.714 12.000-12.499 69 4,643,543.30 0.46 67,297.73 555 76.83 12.190 12.500-12.999 3 127,640.01 0.01 42,546.67 600 74.96 12.563 13.000-13.499 1 67,206.92 0.01 67,206.92 586 84.82 13.350 13.500-13.999 1 29,981.82 0.00 29,981.82 596 75.30 13.600 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 4,736 $ 1,015,025,383.08 100.00% $ 214,321.24 609 81.23% 8.015% - ---------------------------------------------------------------------------------------------------------------------------------- 31 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (TOTAL COLLATERAL) ORIGINAL PRINCIPAL BALANCES OF THE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS ORIGINAL MORTGAGE LOAN BALANCE ($) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 15,000.01-25,000.00 26 $ 575,054.61 0.06% $ 22,117.49 613 96.61% 11.275% 25,000.01-50,000.00 162 6,231,089.05 0.61 38,463.51 613 88.30 10.929 50,000.01-75,000.00 382 23,906,514.48 2.36 62,582.50 589 79.12 9.978 75,000.01-100,000.00 469 41,158,681.00 4.05 87,758.38 588 80.93 9.341 100,000.01-125,000.00 485 54,810,820.66 5.40 113,012.00 591 81.80 8.901 125,000.01-150,000.00 462 63,361,540.76 6.24 137,146.19 592 80.35 8.669 150,000.01-175,000.00 399 64,452,355.30 6.35 161,534.73 593 79.85 8.497 175,000.01-200,000.00 304 57,349,829.14 5.65 188,650.75 593 79.47 8.455 200,000.01-225,000.00 339 72,121,090.11 7.11 212,746.58 606 81.11 8.098 225,000.01-250,000.00 256 60,695,519.94 5.98 237,091.87 601 79.71 8.059 250,000.01-275,000.00 201 52,562,645.10 5.18 261,505.70 608 80.51 7.878 275,000.01-300,000.00 193 55,833,151.50 5.50 289,290.94 609 80.90 7.780 300,000.01-325,000.00 162 50,622,337.44 4.99 312,483.56 610 81.41 7.673 325,000.01-350,000.00 147 49,675,801.85 4.89 337,930.62 613 81.03 7.581 350,000.01-375,000.00 143 51,863,701.00 5.11 362,683.22 618 81.30 7.424 375,000.01-400,000.00 110 42,596,909.97 4.20 387,244.64 619 83.31 7.500 400,000.01-417,000.00 55 22,442,787.72 2.21 408,050.69 626 85.53 7.583 417,000.01-425,000.00 25 10,506,282.51 1.04 420,251.30 628 80.73 7.434 425,000.01-450,000.00 73 32,081,888.77 3.16 439,477.93 623 83.70 7.439 450,000.01-500,000.00 105 49,876,104.82 4.91 475,010.52 623 84.07 7.312 500,000.01-600,000.00 123 67,238,586.88 6.62 546,655.18 630 84.02 7.509 600,000.01-700,000.00 64 41,529,631.68 4.09 648,900.50 635 82.45 7.342 700,000.01-800,000.00 27 20,123,830.75 1.98 745,327.06 626 79.94 7.388 800,000.01-900,000.00 12 10,167,151.98 1.00 847,262.67 630 75.95 7.322 900,000.01-1,000,000.00 6 5,779,233.18 0.57 963,205.53 569 67.24 7.707 1,000,000.01-1,100,000.00 2 2,085,574.71 0.21 1,042,787.36 592 67.52 6.773 1,100,000.01-1,200,000.00 2 2,250,900.51 0.22 1,125,450.26 597 74.24 6.922 1,400,000.01-1,500,000.00 1 1,495,367.66 0.15 1,495,367.66 662 53.15 5.850 1,600,000.01-1,700,000.00 1 1,631,000.00 0.16 1,631,000.00 692 70.00 5.575 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 4,736 $ 1,015,025,383.08 100.00% $ 214,321.24 609 81.23% 8.015% - ---------------------------------------------------------------------------------------------------------------------------------- 32 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (TOTAL COLLATERAL) CURRENT MORTGAGE LOAN PRINCIPAL BALANCE OF THE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS CURRENT UNPAID PRINCIPAL BALANCE ($) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 15,000.01-25,000.00 26 $ 575,054.61 0.06% $ 22,117.49 613 96.61% 11.275% 25,000.01-50,000.00 170 6,629,987.46 0.65 38,999.93 613 87.08 10.860 50,000.01-75,000.00 376 23,657,348.72 2.33 62,918.48 589 79.36 9.974 75,000.01-100,000.00 469 41,208,557.12 4.06 87,864.73 587 80.71 9.342 100,000.01-125,000.00 485 54,860,940.89 5.40 113,115.34 592 81.88 8.899 125,000.01-150,000.00 460 63,107,739.73 6.22 137,190.74 592 80.33 8.672 150,000.01-175,000.00 401 64,806,184.71 6.38 161,611.43 593 79.88 8.505 175,000.01-200,000.00 307 57,975,051.41 5.71 188,843.82 594 79.35 8.435 200,000.01-225,000.00 338 72,045,146.16 7.10 213,151.32 605 81.32 8.109 225,000.01-250,000.00 255 60,545,903.22 5.96 237,434.91 602 79.53 8.049 250,000.01-275,000.00 200 52,362,195.01 5.16 261,810.98 608 80.56 7.865 275,000.01-300,000.00 194 56,182,401.34 5.54 289,600.01 609 80.83 7.773 300,000.01-325,000.00 161 50,374,003.74 4.96 312,882.01 608 81.64 7.694 325,000.01-350,000.00 149 50,424,798.08 4.97 338,421.46 614 80.78 7.572 350,000.01-375,000.00 139 50,464,819.74 4.97 363,056.26 618 81.47 7.420 375,000.01-400,000.00 112 43,395,972.57 4.28 387,464.04 620 83.43 7.493 400,000.01-417,000.00 53 21,643,725.12 2.13 408,372.17 624 85.37 7.601 417,000.01-425,000.00 25 10,506,282.51 1.04 420,251.30 628 80.73 7.434 425,000.01-450,000.00 76 33,430,092.88 3.29 439,869.64 624 83.62 7.422 450,000.01-500,000.00 102 48,527,900.71 4.78 475,763.73 623 84.14 7.320 500,000.01-600,000.00 124 67,837,056.31 6.68 547,073.03 630 84.01 7.503 600,000.01-700,000.00 63 40,931,162.25 4.03 649,700.99 635 82.46 7.351 700,000.01-800,000.00 27 20,123,830.75 1.98 745,327.06 626 79.94 7.388 800,000.01-900,000.00 12 10,167,151.98 1.00 847,262.67 630 75.95 7.322 900,000.01-1,000,000.00 6 5,779,233.18 0.57 963,205.53 569 67.24 7.707 1,000,000.01-1,100,000.00 2 2,085,574.71 0.21 1,042,787.36 592 67.52 6.773 1,100,000.01-1,200,000.00 2 2,250,900.51 0.22 1,125,450.26 597 74.24 6.922 1,400,000.01-1,500,000.00 1 1,495,367.66 0.15 1,495,367.66 662 53.15 5.850 1,600,000.01-1,700,000.00 1 1,631,000.00 0.16 1,631,000.00 692 70.00 5.575 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 4,736 $ 1,015,025,383.08 100.00% $ 214,321.24 609 81.23% 8.015% - ---------------------------------------------------------------------------------------------------------------------------------- REMAINING TERM TO MATURITY OF THE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS REMAINING TERM (MONTHS) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 61-120 2 $ 152,565.79 0.02% $ 76,282.90 612 53.35% 8.907% 121-180 36 3,978,290.26 0.39 110,508.06 606 67.25 8.220 181-240 19 1,746,056.81 0.17 91,897.73 597 71.61 8.394 301-360 4,679 1,009,148,470.22 99.42 215,676.10 609 81.30 8.013 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 4,736 $ 1,015,025,383.08 100.00% $ 214,321.24 609 81.23% 8.015% - ---------------------------------------------------------------------------------------------------------------------------------- 33 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (TOTAL COLLATERAL) ORIGINAL TERM TO MATURITY OF THE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS ORIGINAL TERM (MONTHS) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 61-120 2 $ 152,565.79 0.02% $ 76,282.90 612 53.35% 8.907% 121-180 36 3,978,290.26 0.39 110,508.06 606 67.25 8.220 181-240 19 1,746,056.81 0.17 91,897.73 597 71.61 8.394 301-360 4,679 1,009,148,470.22 99.42 215,676.10 609 81.30 8.013 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 4,736 $ 1,015,025,383.08 100.00% $ 214,321.24 609 81.23% 8.015% - ---------------------------------------------------------------------------------------------------------------------------------- COMBINED LOAN-TO-VALUE RATIO OF THE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS COMBINED LTV (%) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- <25.01 15 $ 1,405,611.47 0.14% $ 93,707.43 571 19.08% 9.096% 25.01-30.00 14 1,932,249.26 0.19 138,017.80 596 27.33 7.479 30.01-35.00 26 4,243,827.58 0.42 163,224.14 592 31.87 8.019 35.01-40.00 45 7,842,500.37 0.77 174,277.79 581 37.66 8.058 40.01-45.00 47 9,035,060.61 0.89 192,235.33 593 42.80 7.590 45.01-50.00 79 15,057,677.04 1.48 190,603.51 580 47.84 7.837 50.01-55.00 97 18,006,108.93 1.77 185,629.99 592 53.05 7.829 55.01-60.00 157 30,711,365.03 3.03 195,613.79 593 57.81 7.765 60.01-65.00 320 67,448,371.38 6.64 210,776.16 585 63.49 7.955 65.01-70.00 324 76,646,679.01 7.55 236,563.82 597 68.81 7.691 70.01-75.00 401 94,522,954.65 9.31 235,718.09 594 74.05 7.946 75.01-80.00 851 185,313,776.17 18.26 217,760.02 594 79.51 8.107 80.01-85.00 375 93,068,817.69 9.17 248,183.51 615 84.42 7.881 85.01-90.00 584 150,963,168.48 14.87 258,498.58 626 89.62 8.123 90.01-95.00 403 83,913,982.18 8.27 208,223.28 617 94.65 8.494 95.01-100.00 998 174,913,233.23 17.23 175,263.76 635 99.93 7.962 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 4,736 $ 1,015,025,383.08 100.00% $ 214,321.24 609 81.23% 8.015% - ---------------------------------------------------------------------------------------------------------------------------------- 34 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (TOTAL COLLATERAL) ORIGINAL LOAN-TO-VALUE RATIOS OF THE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS ORIGINAL LOAN-TO-VALUE RATIO (%) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- <25.01 16 $ 1,945,721.85 0.19% $ 121,607.62 592 20.90% 8.403% 25.01-30.00 13 1,392,138.88 0.14 107,087.61 578 27.99 7.820 30.01-35.00 26 4,243,827.58 0.42 163,224.14 592 31.87 8.019 35.01-40.00 45 7,842,500.37 0.77 174,277.79 581 37.66 8.058 40.01-45.00 48 9,100,001.64 0.90 189,583.37 593 42.89 7.606 45.01-50.00 79 15,057,677.04 1.48 190,603.51 580 47.84 7.837 50.01-55.00 97 18,006,108.93 1.77 185,629.99 592 53.05 7.829 55.01-60.00 161 31,409,992.25 3.09 195,093.12 592 58.13 7.770 60.01-65.00 323 68,594,776.98 6.76 212,367.73 584 63.73 7.943 65.01-70.00 325 76,887,967.15 7.57 236,578.36 598 68.97 7.707 70.01-75.00 403 94,285,797.34 9.29 233,959.79 595 74.21 7.928 75.01-80.00 1,611 341,141,802.43 33.61 211,757.79 613 88.69 7.908 80.01-85.00 373 92,917,265.83 9.15 249,107.95 616 84.47 7.865 85.01-90.00 582 150,124,720.14 14.79 257,946.25 626 89.63 8.132 90.01-95.00 354 72,562,592.43 7.15 204,979.07 615 94.68 8.629 95.01-100.00 280 29,512,492.24 2.91 105,401.76 632 99.77 9.424 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 4,736 $ 1,015,025,383.08 100.00% $ 214,321.24 609 81.23% 8.015% - ---------------------------------------------------------------------------------------------------------------------------------- GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES OF THE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS STATE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- California 720 $ 248,487,338.92 24.48% $ 345,121.30 621 79.51% 7.260% Florida 617 118,807,159.24 11.70 192,556.17 607 82.58 8.254 New York 327 103,222,968.49 10.17 315,666.57 619 78.06 7.578 Massachusetts 226 65,320,040.75 6.44 289,026.73 618 80.30 7.890 New Jersey 181 46,902,267.48 4.62 259,128.55 601 78.63 8.496 Texas 362 45,415,542.99 4.47 125,457.30 586 88.79 9.074 Virgina 185 36,185,575.69 3.56 195,597.71 596 79.41 8.091 Maryland 145 35,080,614.42 3.46 241,935.27 600 78.25 7.979 Arizona 133 26,055,214.15 2.57 195,903.87 605 79.80 8.144 Pennsylvania 165 25,365,572.03 2.50 153,730.74 592 79.65 8.521 Illinois 115 21,703,224.04 2.14 188,723.69 599 81.92 8.565 Connecticut 106 20,725,504.43 2.04 195,523.63 619 81.74 7.928 Georgia 133 20,068,394.86 1.98 150,890.19 603 86.50 8.788 Other 1,321 201,685,965.59 19.87 152,676.73 601 83.93 8.502 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 4,736 $ 1,015,025,383.08 100.00% $ 214,321.24 609 81.23% 8.015% - ---------------------------------------------------------------------------------------------------------------------------------- 35 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (TOTAL COLLATERAL) OCCUPANCY TYPES OF THE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS OCCUPANCY LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- Investment Property 158 $ 36,214,502.74 3.57% $ 229,205.71 641 80.94% 8.819% Primary Residence 4,517 964,546,828.68 95.03 213,537.04 607 81.26 7.989 Second Home 61 14,264,051.66 1.41 233,836.91 636 79.55 7.745 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 4,736 $ 1,015,025,383.08 100.00% $ 214,321.24 609 81.23% 8.015% - ---------------------------------------------------------------------------------------------------------------------------------- MORTGAGE PROPERTY TYPES OF THE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS PROPERTY TYPE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- Condo 176 $ 36,374,037.37 3.58% $ 206,670.67 621 85.06% 8.296% Modular Home 22 3,232,107.53 0.32 146,913.98 654 76.56 9.041 Pud - Attached 58 13,267,883.94 1.31 228,756.62 601 81.82 7.990 Pud- Detached 359 92,232,243.08 9.09 256,914.33 608 83.60 7.891 One 3,756 756,767,865.67 74.56 201,482.39 606 81.12 8.034 2-4 Unit 365 113,151,245.49 11.15 310,003.41 625 78.82 7.870 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 4,736 $ 1,015,025,383.08 100.00% $ 214,321.24 609 81.23% 8.015% - ---------------------------------------------------------------------------------------------------------------------------------- MORTGAGE LOAN PURPOSE OF THE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS LOAN PURPOSE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- Cash Out 2,804 $ 650,094,530.85 64.05% $ 231,845.41 603 76.55% 7.919% Purchase 1,604 303,014,070.70 29.85 188,911.52 624 92.11 8.158 Rate/Term Refinance 328 61,916,781.53 6.10 188,770.68 600 77.07 8.320 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL: 4,736 $ 1,015,025,383.08 100.00% $ 214,321.24 609 81.23% 8.015% - ---------------------------------------------------------------------------------------------------------------------------------- 36 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (TOTAL COLLATERAL) MORTGAGE LOAN DOCUMENTATION TYPES OF THE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS DOCUMENTATION TYPE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- Full Doc 3,038 $ 537,460,797.07 52.95% $ 176,912.70 597 82.88% 8.157% Limited 29 9,601,436.81 0.95 331,084.03 600 80.32 8.382 Stated Doc 1,669 467,963,149.20 46.10 280,385.35 622 79.34 7.844 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 4,736 $ 1,015,025,383.08 100.00% $ 214,321.24 609 81.23% 8.015% - ---------------------------------------------------------------------------------------------------------------------------------- CREDIT SCORE DISTRIBUTION OF THE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS CREDIT SCORE RANGE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- None 36 $ 4,414,464.07 0.43% $ 122,624.00 -- 69.48% 9.482% 475-499 6 729,829.40 0.07 121,638.23 489 90.48 10.021 500-524 392 70,785,852.98 6.97 180,576.16 513 72.91 9.351 525-549 424 75,194,015.26 7.41 177,344.38 538 73.76 9.181 550-574 548 105,812,533.81 10.42 193,088.57 564 75.04 8.521 575-599 809 152,104,435.61 14.99 188,015.37 588 81.31 8.088 600-624 920 198,646,553.51 19.57 215,920.17 612 81.39 7.797 625-649 747 175,159,010.13 17.26 234,483.28 637 84.34 7.626 650-674 509 130,470,916.93 12.85 256,327.93 661 86.14 7.477 675-699 345 101,707,771.38 10.02 294,805.13 687 87.29 7.292 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 4,736 $ 1,015,025,383.08 100.00% $ 214,321.24 609 81.23% 8.015% - ---------------------------------------------------------------------------------------------------------------------------------- PREPAYMENT PENALTY TERMS OF THE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS PREPAYMENT PENALTY TERM (MONTHS) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 0 1,219 $ 237,818,300.27 23.43% $ 195,092.95 604 80.41% 8.475% 12 323 111,395,518.57 10.97 344,877.77 618 79.38 7.512 24 2,436 508,362,129.36 50.08 208,687.25 605 83.30 8.030 30 2 501,102.76 0.05 250,551.38 602 68.23 8.856 36 753 156,345,685.30 15.40 207,630.39 623 77.06 7.615 60 3 602,646.82 0.06 200,882.27 609 88.77 9.366 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 4,736 $ 1,015,025,383.08 100.00% $ 214,321.24 609 81.23% 8.015% - ---------------------------------------------------------------------------------------------------------------------------------- 37 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (TOTAL COLLATERAL) LIEN TYPES OF THE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS LIEN TYPE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- First Lien 4,505 $ 1,004,611,254.28 98.97% $ 222,999.17 609 81.13% 7.984% Second Lien 231 10,414,128.80 1.03 45,082.81 627 90.24 10.947 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 4,736 $ 1,015,025,383.08 100.00% $ 214,321.24 609 81.23% 8.015% - ---------------------------------------------------------------------------------------------------------------------------------- 38 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (ADJUSTABLE RATE COLLATERAL) - -------------------------------------------------------------------------------- COLLATERAL SUMMARY - -------------------------------------------------------------------------------- Statistics for the Mortgage Loans listed below are based on the Cut-off Date scheduled balances SCHEDULED PRINCIPAL BALANCE: $849,562,351.89 NUMBER OF MORTGAGE LOANS: 3,767 AVERAGE SCHEDULED PRINCIPAL BALANCE: $225,527.56 WEIGHTED AVERAGE GROSS COUPON: 8.043% WEIGHTED AVERAGE ORIGINAL CREDIT SCORE(3): 606 WEIGHTED AVERAGE ORIGINAL LTV RATIO(2): 78.77% WEIGHTED AVERAGE COMBINED LTV RATIO: 82.20% WEIGHTED AVERAGE STATED REMAINING TERM (MONTHS): 357 WEIGHTED AVERAGE ORIGINAL TERM (MONTHS): 360 WEIGHTED AVERAGE ROLL TERM(1) (MONTHS): 26 WEIGHTED AVERAGE GROSS MARGIN(1): 6.199% WEIGHTED AVERAGE INITIAL RATE CAP(1): 2.989% WEIGHTED AVERAGE PERIODIC RATE CAP(1): 1.000% WEIGHTED AVERAGE GROSS MAXIMUM LIFETIME RATE(1): 14.033% WEIGHTED AVERAGE GROSS MINIMUM LIFETIME RATE(1): 8.042% INTEREST ONLY LOANS: 21.45% SILENT SECONDS: 17.78% - -------------------------------------------------------------------------------- (1) Includes adjustable-rate Mortgage Loans only. (2) The loan-to-value ("OLTV") at any given time is a fraction, expressed as a percentage, the numerator of which is the sum of (a) the principal balance of such mortgage loan at the date of origination plus (b) the outstanding balance of the senior mortgage loan at the date of origination of such mortgage loan and the denominator of which is (ii) the lesser of the sales price of the related mortgage property and its appraised value determined in an appraisal obtained by the originator at origination of the mortgage loan. (3) Does not include loans with no credit score available. 39 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (ADJUSTABLE RATE COLLATERAL) PRODUCT TYPES OF THE ADJUSTABLE RATE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS PRODUCT TYPE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 6M ARM 4 $ 815,477.23 0.10% $ 203,869.31 560 76.42% 7.085% 2/13 ARM 7 479,382.07 0.06 68,483.15 584 75.27 9.093 2/28 ARM 2,421 467,306,214.25 55.01 193,021.98 591 80.22 8.471 2/28 ARM 5YR IO 513 160,310,879.54 18.87 312,496.84 637 87.93 7.412 2YR_ARM_BAL 533 146,591,092.43 17.25 275,030.19 614 83.59 7.616 3/27 ARM 67 12,859,337.49 1.51 191,930.41 597 78.53 8.356 3/27 ARM 5YR IO 20 7,386,497.94 0.87 369,324.90 656 82.38 7.103 3YR_ARM_BAL 20 5,332,809.66 0.63 266,640.48 624 82.83 7.373 5/25 ARM 90 21,029,445.08 2.48 233,660.50 619 77.92 7.766 5/25 ARM 5YR IO 44 14,494,202.20 1.71 329,413.69 645 82.17 6.809 5YR_ARM_BAL 46 12,802,202.04 1.51 278,308.74 615 77.94 7.530 15/15 ARM 2 154,811.96 0.02 77,405.98 568 86.16 10.467 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 3,767 $ 849,562,351.89 100.00% $ 225,527.57 606 82.20% 8.043% - ---------------------------------------------------------------------------------------------------------------------------------- CURRENT GROSS MORTGAGE RATE OF THE ADJUSTABLE RATE MORTGAGE RATE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS CURRENT GROSS MORTGAGE RATE (%) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 5.000-5.499 1 $ 307,500.00 0.04% $ 307,500.00 615 76.88% 5.450% 5.500-5.999 43 17,770,645.19 2.09 413,270.82 639 71.63 5.786 6.000-6.499 129 41,908,953.69 4.93 324,875.61 638 83.18 6.305 6.500-6.999 356 120,747,201.91 14.21 339,177.53 631 80.69 6.788 7.000-7.499 388 113,268,044.22 13.33 291,927.95 627 81.87 7.257 7.500-7.999 585 155,839,053.67 18.34 266,391.54 615 83.70 7.760 8.000-8.499 553 127,281,087.17 14.98 230,164.71 601 83.37 8.237 8.500-8.999 631 115,663,764.74 13.61 183,302.32 592 83.79 8.741 9.000-9.499 308 53,641,196.10 6.31 174,159.73 583 83.69 9.236 9.500-9.999 336 50,615,107.61 5.96 150,640.20 565 80.60 9.740 10.000-10.499 160 21,302,618.83 2.51 133,141.37 559 81.75 10.224 10.500-10.999 136 16,737,167.21 1.97 123,067.41 549 78.06 10.735 11.000-11.499 66 6,347,492.77 0.75 96,174.13 542 77.15 11.224 11.500-11.999 54 5,821,879.60 0.69 107,812.59 533 73.68 11.732 12.000-12.499 21 2,310,639.18 0.27 110,030.44 538 67.57 12.235 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 3,767 $ 849,562,351.89 100.00% $ 225,527.57 606 82.20% 8.043% - ---------------------------------------------------------------------------------------------------------------------------------- 40 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (ADJUSTABLE RATE COLLATERAL) ORIGINAL MORTGAGE LOAN PRINCIPAL BALANCE OF THE ADJUSTABLE RATE MORTGAGE RATE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS ORIGINAL PRINCIPAL BALANCE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 15,000.01-25,000.00 1 $ 22,576.39 0.00% $ 22,576.39 630 100.00% 11.150% 25,000.01-50,000.00 18 898,533.12 0.11 49,918.51 570 62.60 10.033 50,000.01-75,000.00 249 15,752,100.36 1.85 63,261.45 582 78.32 9.814 75,000.01-100,000.00 371 32,570,997.22 3.83 87,792.45 584 83.01 9.340 100,000.01-125,000.00 401 45,393,092.10 5.34 113,199.73 590 83.04 8.909 125,000.01-150,000.00 381 52,307,068.79 6.16 137,288.89 591 81.62 8.720 150,000.01-175,000.00 342 55,246,719.37 6.50 161,540.12 591 80.21 8.516 175,000.01-200,000.00 259 48,839,013.72 5.75 188,567.62 591 80.64 8.533 200,000.01-225,000.00 305 64,974,594.00 7.65 213,031.46 605 82.07 8.138 225,000.01-250,000.00 219 51,947,383.55 6.11 237,202.66 598 80.05 8.103 250,000.01-275,000.00 174 45,426,928.32 5.35 261,074.30 607 82.24 7.944 275,000.01-300,000.00 164 47,409,748.50 5.58 289,083.83 606 81.97 7.863 300,000.01-325,000.00 132 41,284,785.23 4.86 312,763.52 607 83.31 7.804 325,000.01-350,000.00 118 39,846,668.58 4.69 337,683.63 608 82.23 7.716 350,000.01-375,000.00 121 43,867,871.69 5.16 362,544.39 615 82.08 7.493 375,000.01-400,000.00 90 34,836,048.20 4.10 387,067.20 616 84.04 7.576 400,000.01-417,000.00 46 18,756,157.07 2.21 407,742.55 623 85.59 7.576 417,000.01-425,000.00 21 8,831,423.23 1.04 420,543.96 621 81.41 7.479 425,000.01-450,000.00 61 26,733,036.42 3.15 438,246.50 624 85.15 7.497 450,000.01-500,000.00 88 41,859,137.77 4.93 475,672.02 617 84.95 7.410 500,000.01-600,000.00 107 58,429,008.59 6.88 546,065.50 627 85.13 7.642 600,000.01-700,000.00 52 33,839,223.33 3.98 650,754.29 635 85.08 7.424 700,000.01-800,000.00 24 17,928,890.11 2.11 747,037.09 625 81.60 7.491 800,000.01-900,000.00 11 9,319,270.17 1.10 847,206.38 631 76.52 7.355 900,000.01-1,000,000.00 6 5,779,233.18 0.68 963,205.53 569 67.24 7.707 1,000,000.01-1,100,000.00 2 2,085,574.71 0.25 1,042,787.36 592 67.52 6.773 1,100,000.01-1,200,000.00 2 2,250,900.51 0.26 1,125,450.26 597 74.24 6.922 1,400,000.01-1,500,000.00 1 1,495,367.66 0.18 1,495,367.66 662 53.15 5.850 1,600,000.01-1,700,000.00 1 1,631,000.00 0.19 1,631,000.00 692 70.00 5.575 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 3,767 $ 849,562,351.89 100.00% $ 225,527.57 606 82.20% 8.043% - ---------------------------------------------------------------------------------------------------------------------------------- 41 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (ADJUSTABLE RATE COLLATERAL) CURRENT MORTGAGE LOAN PRINCIPAL BALANCE OF THE ADJUSTABLE RATE MORTGAGE RATE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS CURRENT UNPAID PRINCIPAL BALANCE ($) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 15,000.01-25,000.00 1 $ 22,576.39 0.00% $ 22,576.39 630 100.00% 11.150% 25,000.01-50,000.00 23 1,147,916.42 0.14 49,909.41 574 63.59 10.007 50,000.01-75,000.00 246 15,652,449.71 1.84 63,627.84 582 78.59 9.803 75,000.01-100,000.00 370 32,521,254.57 3.83 87,895.28 583 82.89 9.340 100,000.01-125,000.00 401 45,417,873.34 5.35 113,261.53 590 83.00 8.907 125,000.01-150,000.00 379 52,028,527.23 6.12 137,278.44 591 81.75 8.727 150,000.01-175,000.00 345 55,750,247.07 6.56 161,594.92 591 80.13 8.523 175,000.01-200,000.00 261 49,288,127.59 5.80 188,843.40 591 80.61 8.513 200,000.01-225,000.00 304 64,849,821.67 7.63 213,321.78 604 82.16 8.136 225,000.01-250,000.00 219 52,022,703.61 6.12 237,546.59 599 79.91 8.107 250,000.01-275,000.00 173 45,226,478.23 5.32 261,424.73 607 82.31 7.928 275,000.01-300,000.00 164 47,459,815.54 5.59 289,389.12 606 82.03 7.864 300,000.01-325,000.00 132 41,335,634.33 4.87 313,148.74 606 83.41 7.819 325,000.01-350,000.00 118 39,895,930.77 4.70 338,101.11 609 82.23 7.716 350,000.01-375,000.00 119 43,168,724.47 5.08 362,762.39 615 82.00 7.482 375,000.01-400,000.00 92 35,635,110.80 4.19 387,338.16 617 84.17 7.566 400,000.01-417,000.00 44 17,957,094.47 2.11 408,115.78 621 85.40 7.597 417,000.01-425,000.00 21 8,831,423.23 1.04 420,543.96 621 81.41 7.479 425,000.01-450,000.00 63 27,631,402.63 3.25 438,593.69 624 84.99 7.498 450,000.01-500,000.00 86 40,960,771.56 4.82 476,288.04 617 85.06 7.407 500,000.01-600,000.00 107 58,429,008.59 6.88 546,065.50 627 85.13 7.642 600,000.01-700,000.00 52 33,839,223.33 3.98 650,754.29 635 85.08 7.424 700,000.01-800,000.00 24 17,928,890.11 2.11 747,037.09 625 81.60 7.491 800,000.01-900,000.00 11 9,319,270.17 1.10 847,206.38 631 76.52 7.355 900,000.01-1,000,000.00 6 5,779,233.18 0.68 963,205.53 569 67.24 7.707 1,000,000.01-1,100,000.00 2 2,085,574.71 0.25 1,042,787.36 592 67.52 6.773 1,100,000.01-1,200,000.00 2 2,250,900.51 0.26 1,125,450.26 597 74.24 6.922 1,400,000.01-1,500,000.00 1 1,495,367.66 0.18 1,495,367.66 662 53.15 5.850 1,600,000.01-1,700,000.00 1 1,631,000.00 0.19 1,631,000.00 692 70.00 5.575 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 3,767 $ 849,562,351.89 100.00% $ 225,527.57 606 82.20% 8.043% - ---------------------------------------------------------------------------------------------------------------------------------- REMAINING TERM TO MATURITY OF THE ADJUSTABLE RATE MORTGAGE RATE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS REMAINING TERM (MONTHS) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 121-180 7 $ 479,382.07 0.06% $ 68,483.15 584 75.27% 9.093% 301-360 3,760 849,082,969.82 99.94 225,819.94 606 82.21 8.042 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 3,767 $ 849,562,351.89 100.00% $ 225,527.57 606 82.20% 8.043% - ---------------------------------------------------------------------------------------------------------------------------------- 42 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (ADJUSTABLE RATE COLLATERAL) ORIGINAL TERM TO MATURITY OF THE ADJUSTABLE RATE MORTGAGE RATE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS ORIGINAL TERM LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 121-180 7 $ 479,382.07 0.06% $ 68,483.15 584 75.27% 9.093% 301-360 3,760 849,082,969.82 99.94 225,819.94 606 82.21 8.042 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 3,767 $ 849,562,351.89 100.00% $ 225,527.57 606 82.20% 8.043% - ---------------------------------------------------------------------------------------------------------------------------------- COMBINED LOAN-TO-VALUE RATIOS OF THE ADJUSTABLE RATE MORTGAGE RATE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS COMBINED LTV (%) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- <25.01 8 $ 760,478.09 0.09% $ 95,059.76 560 18.85% 9.066% 25.01-30.00 7 1,184,369.45 0.14 169,195.64 606 26.82 7.166 30.01-35.00 19 3,373,053.94 0.40 177,529.15 585 31.97 8.038 35.01-40.00 32 5,571,398.05 0.66 174,106.19 567 37.78 8.099 40.01-45.00 31 6,502,259.05 0.77 209,750.29 583 42.65 7.699 45.01-50.00 62 11,526,168.54 1.36 185,905.94 571 48.02 8.057 50.01-55.00 73 14,645,948.98 1.72 200,629.44 585 53.16 7.858 55.01-60.00 113 22,901,155.87 2.70 202,665.10 584 57.85 7.889 60.01-65.00 229 47,614,459.89 5.60 207,923.41 573 63.50 8.230 65.01-70.00 255 60,273,881.17 7.09 236,368.16 591 68.77 7.770 70.01-75.00 332 77,351,336.79 9.10 232,985.95 587 74.07 8.085 75.01-80.00 696 153,123,675.34 18.02 220,005.28 587 79.54 8.189 80.01-85.00 291 76,344,888.90 8.99 262,353.57 612 84.54 7.902 85.01-90.00 514 138,254,168.74 16.27 268,976.98 627 89.63 8.083 90.01-95.00 339 73,002,962.26 8.59 215,347.97 617 94.69 8.461 95.01-100.00 766 157,132,146.83 18.50 205,133.35 635 99.94 7.818 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 3,767 $ 849,562,351.89 100.00% $ 225,527.57 606 82.20% 8.043% - ---------------------------------------------------------------------------------------------------------------------------------- 43 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (ADJUSTABLE RATE COLLATERAL) ORIGINAL LOAN-TO-VALUE RATIOS OF THE ADJUSTABLE RATE MORTGAGE RATE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS ORIGINAL LTV (%) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- <25.01 9 $ 1,300,588.47 0.15% $ 144,509.83 596 21.67% 8.042% 25.01-30.00 6 644,259.07 0.08 107,376.51 574 27.81 7.640 30.01-35.00 19 3,373,053.94 0.40 177,529.15 585 31.97 8.038 35.01-40.00 32 5,571,398.05 0.66 174,106.19 567 37.78 8.099 40.01-45.00 31 6,502,259.05 0.77 209,750.29 583 42.65 7.699 45.01-50.00 62 11,526,168.54 1.36 185,905.94 571 48.02 8.057 50.01-55.00 73 14,645,948.98 1.72 200,629.44 585 53.16 7.858 55.01-60.00 116 23,506,731.79 2.77 202,644.24 583 58.12 7.893 60.01-65.00 231 48,707,965.72 5.73 210,856.99 573 63.81 8.207 65.01-70.00 255 60,419,402.02 7.11 236,938.83 592 68.95 7.788 70.01-75.00 334 77,114,179.48 9.08 230,880.78 588 74.27 8.063 75.01-80.00 1,402 299,264,690.82 35.23 213,455.56 611 89.34 7.928 80.01-85.00 290 76,266,501.97 8.98 262,987.94 613 84.60 7.884 85.01-90.00 513 137,511,487.69 16.19 268,053.58 627 89.63 8.094 90.01-95.00 294 62,938,539.84 7.41 214,076.67 616 94.72 8.583 95.01-100.00 100 20,269,176.46 2.39 202,691.76 634 99.76 9.013 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 3,767 $ 849,562,351.89 100.00% $ 225,527.57 606 82.20% 8.043% - ---------------------------------------------------------------------------------------------------------------------------------- GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES OF THE ADJUSTABLE RATE MORTGAGE RATE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS STATE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- California 560 $ 203,691,037.95 23.98% $ 363,734.00 618 80.91% 7.303% Florida 475 96,575,310.02 11.37 203,316.44 604 83.88 8.270 New York 241 79,721,176.99 9.38 330,793.27 616 79.23 7.656 Massachusetts 193 57,619,026.73 6.78 298,544.18 616 80.87 7.928 New Jersey 159 42,495,519.04 5.00 267,267.42 600 79.10 8.495 Texas 252 34,323,055.45 4.04 136,202.60 584 89.88 9.066 Virginia 152 31,737,143.26 3.74 208,797.00 595 79.64 8.026 Maryland 127 31,205,739.39 3.67 245,714.48 594 78.55 8.035 Arizona 117 23,910,851.60 2.81 204,366.25 603 80.73 8.221 Pennsylvania 132 21,648,353.44 2.55 164,002.68 592 80.79 8.469 Illinois 106 20,796,511.41 2.45 196,193.50 598 81.90 8.525 Connecticut 80 17,403,686.16 2.05 217,546.08 619 82.59 7.846 Georgia 105 17,033,744.03 2.01 162,226.13 602 86.87 8.804 Other 1,068 171,401,196.42 20.18 160,488.01 598 84.92 8.508 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 3,767 $ 849,562,351.89 100.00% $ 225,527.57 606 82.20% 8.043% - ---------------------------------------------------------------------------------------------------------------------------------- 44 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (ADJUSTABLE RATE COLLATERAL) OCCUPANCY TYPES OF THE ADJUSTABLE RATE MORTGAGE RATE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS OCCUPANCY TYPE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- Investment Property 143 $ 33,569,492.91 3.95% $ 234,751.70 641 82.03% 8.822% Primary Residence 3,574 803,891,196.51 94.62 224,927.59 605 82.25 8.016 Second Home 50 12,101,662.47 1.42 242,033.25 636 79.35 7.650 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL: 3,767 $ 849,562,351.89 100.00% $ 225,527.57 606 82.20% 8.043% - ---------------------------------------------------------------------------------------------------------------------------------- MORTGAGED PROPERTY TYPES OF THE ADJUSTABLE RATE MORTGAGE RATE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS PROPERTY TYPE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- Condo 147 $ 31,725,204.05 3.73% $ 215,817.71 620 85.48% 8.331% Modular Home 11 1,745,367.52 0.21 158,669.77 667 84.12 9.090 Pud - Attached 55 12,789,814.56 1.51 232,542.08 600 82.27 8.014 Pud- Detached 313 81,706,268.57 9.62 261,042.39 605 84.44 7.931 One 2,936 625,798,245.26 73.66 213,146.54 603 82.02 8.056 2-4 Unit 305 95,797,451.93 11.28 314,090.01 623 80.39 7.942 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 3,767 $ 849,562,351.89 100.00% $ 225,527.57 606 82.20% 8.043% - ---------------------------------------------------------------------------------------------------------------------------------- MORTGAGE LOAN PURPOSE OF THE ADJUSTABLE RATE MORTGAGE RATE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS LOAN PURPOSE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- Cash Out 2,228 $ 532,729,396.39 62.71% $ 239,106.55 599 77.45% 7.984% Purchase 1,301 269,988,269.48 31.78 207,523.65 624 92.41 8.075 Rate/Term Refinance 238 46,844,686.02 5.51 196,826.41 591 77.50 8.524 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL: 3,767 $ 849,562,351.89 100.00% $ 225,527.57 606 82.20% 8.043% - ---------------------------------------------------------------------------------------------------------------------------------- 45 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (ADJUSTABLE RATE COLLATERAL) MORTGAGE LOAN DOCUMENTATION TYPES OF THE ADJUSTABLE RATE MORTGAGE RATE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS DOCUMENTATION TYPE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- Full Doc 2,327 $ 429,938,532.21 50.61% $ 184,760.86 594 84.35% 8.201% Limited 24 8,286,235.02 0.98 345,259.79 596 80.30 8.371 Stated Doc 1,416 411,337,584.66 48.42 290,492.64 620 80.00 7.871 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL: 3,767 $ 849,562,351.89 100.00% $ 225,527.57 606 82.20% 8.043% - ---------------------------------------------------------------------------------------------------------------------------------- CREDIT SCORE DISTRIBUTION OF THE ADJUSTABLE RATE MORTGAGE RATE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS CREDIT SCORE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- None 34 $ 4,253,944.50 0.50% $ 125,116.01 -- 69.28% 9.427% 475-499 4 621,209.99 0.07 155,302.50 488 89.46 9.801 500-524 350 64,624,600.13 7.61 184,641.71 512 72.84 9.298 525-549 374 69,370,097.12 8.17 185,481.54 538 73.58 9.136 550-574 477 95,352,931.96 11.22 199,901.32 564 75.38 8.510 575-599 620 126,202,699.09 14.86 203,552.74 588 82.61 8.034 600-624 708 162,470,784.20 19.12 229,478.51 612 82.90 7.807 625-649 570 141,413,987.01 16.65 248,094.71 637 85.69 7.632 650-674 373 104,526,897.18 12.30 280,232.97 661 88.02 7.508 675-699 257 80,725,200.71 9.50 314,105.84 687 90.12 7.361 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 3,767 $ 849,562,351.89 100.00% $ 225,527.57 606 82.20% 8.043% - ---------------------------------------------------------------------------------------------------------------------------------- PREPAYMENT PENALTY TERMS OF THE ADJUSTABLE RATE MORTGAGE RATE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS PREPAYMENT PENALTY TERM (MONTHS) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 0 955 $ 209,182,466.92 24.62% $ 219,039.23 603 80.74% 8.438% 12 247 87,853,223.51 10.34 355,681.07 615 80.81 7.600 24 2,368 503,735,192.28 59.29 212,726.01 605 83.26 8.013 26 194 48,188,822.36 5.67 248,395.99 625 80.06 7.426 60 3 602,646.82 0.07 200,882.27 609 88.77 9.366 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 3,767 $ 849,562,351.89 100.00% $ 225,527.57 606 82.20% 8.043% - ---------------------------------------------------------------------------------------------------------------------------------- 46 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (ADJUSTABLE RATE COLLATERAL) LIEN TYPES OF THE ADJUSTABLE RATE MORTGAGE RATE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS LIEN TYPE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- First Lien 3,766 $ 849,539,775.50 100.00% $ 225,581.46 606 82.20% 8.043% Second Lien 1 22,576.39 0.00 22,576.39 630 100.00 11.150 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 3,767 $ 849,562,351.89 100.00% $ 225,527.57 606 82.20% 8.043% - ---------------------------------------------------------------------------------------------------------------------------------- INITIAL INTEREST RATE CAP OF THE ADJUSTABLE RATE MORTGAGE RATE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS INITIAL RATE CAP (%) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 1.000 6 $ 1,782,452.37 0.21% $ 297,075.40 578 80.53% 7.094% 2.000 13 5,546,008.65 0.65 426,616.05 594 71.33 7.175 3.000 3,747 842,152,083.63 99.13 224,753.69 607 82.28 8.050 4.000 1 81,807.24 0.01 81,807.24 530 63.08 8.700 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 3,767 $ 849,562,351.89 100.00% $ 225,527.57 606 82.20% 8.043% - ---------------------------------------------------------------------------------------------------------------------------------- DISTRIBUTION BY PERIODIC INTEREST RATE CAP OF THE ADJUSTABLE RATE MORTGAGE RATE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS PERIODIC RATE CAP (%) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 1.000 3,766 $ 849,293,611.04 99.97% $ 225,516.09 606 82.20% 8.043% 1.500 1 268,740.85 0.03 268,740.85 629 94.39 7.625 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 3,767 $ 849,562,351.89 100.00% $ 225,527.57 606 82.20% 8.043% - ---------------------------------------------------------------------------------------------------------------------------------- 47 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (ADJUSTABLE RATE COLLATERAL) GROSS MARGIN OF THE ADJUSTABLE RATE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS MARGIN (%) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 2.500-2.999 1 $ 66,462.59 0.01% $ 66,462.59 566 95.00% 12.100% 3.000-3.499 3 192,149.50 0.02 64,049.83 537 70.90 11.506 3.500-3.999 4 947,256.80 0.11 236,814.20 619 78.50 5.965 4.000-4.499 27 8,815,254.33 1.04 326,490.90 643 68.39 6.433 4.500-4.999 120 40,257,814.53 4.74 335,481.79 647 79.61 6.402 5.000-5.499 437 131,027,309.29 15.42 299,833.66 636 80.94 6.891 5.500-5.999 702 183,907,218.19 21.65 261,976.09 623 83.38 7.476 6.000-6.499 777 178,311,682.56 20.99 229,487.36 607 83.23 8.036 6.500-6.999 682 140,958,223.80 16.59 206,683.61 590 83.35 8.559 7.000-7.499 543 90,210,038.65 10.62 166,132.67 574 81.59 9.308 7.500-7.999 344 52,067,291.29 6.13 151,358.40 562 80.73 10.029 8.000-8.499 124 22,339,904.58 2.63 180,160.52 545 81.20 10.116 8.500-8.999 2 386,860.25 0.05 193,430.13 526 69.58 9.823 9.000-9.499 1 74,885.53 0.01 74,885.53 531 27.57 10.750 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 3,767 $ 849,562,351.89 100.00% $ 225,527.57 606 82.20% 8.043% - ---------------------------------------------------------------------------------------------------------------------------------- MAXIMUM MORTGAGE RATES OF THE ADJUSTABLE RATE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS MAXIMUM MORTGAGE RATES (%) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 9.500-9.999 1 $ 217,160.68 0.03% $ 217,160.68 632 100.00% 6.600% 10.000-10.499 2 238,195.49 0.03 119,097.75 582 68.21 7.320 10.500-10.999 3 415,262.31 0.05 138,420.77 605 61.46 7.631 11.000-11.499 6 804,898.57 0.09 134,149.76 595 63.26 7.159 11.500-11.999 49 18,453,024.15 2.17 376,592.33 636 71.84 5.898 12.000-12.499 133 42,278,488.77 4.98 317,883.37 638 83.15 6.332 12.500-12.999 358 120,842,738.10 14.22 337,549.55 631 80.64 6.795 13.000-13.499 390 113,324,793.29 13.34 290,576.39 627 81.84 7.264 13.500-13.999 584 155,385,441.59 18.29 266,070.96 615 83.73 7.765 14.000-14.499 549 126,873,520.61 14.93 231,099.31 601 83.48 8.240 14.500-14.999 627 115,312,487.86 13.57 183,911.46 592 83.85 8.740 15.000-15.499 304 52,799,925.55 6.21 173,683.97 582 83.70 9.235 15.500-15.999 333 50,302,410.74 5.92 151,058.29 565 80.63 9.740 16.000-16.499 156 21,007,674.27 2.47 134,664.58 559 82.09 10.224 16.500-16.999 133 16,506,776.13 1.94 124,111.10 548 78.10 10.734 17.000-17.499 65 6,257,660.76 0.74 96,271.70 542 77.10 11.220 17.500-17.999 53 5,759,518.37 0.68 108,670.16 533 73.61 11.733 18.000-18.499 20 2,260,667.62 0.27 113,033.38 538 67.33 12.239 19.000-19.499 1 521,707.03 0.06 521,707.03 565 85.00 9.490 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 3,767 $ 849,562,351.89 100.00% $ 225,527.57 606 82.20% 8.043% - ---------------------------------------------------------------------------------------------------------------------------------- 48 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (ADJUSTABLE RATE COLLATERAL) MINIMUM MORTGAGE RATES OF THE ADJUSTABLE RATE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS MINIMUM MORTGAGE RATES (%) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 5.000-5.499 1 $ 307,500.00 0.04% $ 307,500.00 615 76.88% 5.450% 5.500-5.999 43 17,770,645.19 2.09 413,270.82 639 71.63 5.786 6.000-6.499 129 41,908,953.69 4.93 324,875.61 638 83.18 6.305 6.500-6.999 358 120,983,625.56 14.24 337,943.09 631 80.71 6.792 7.000-7.499 389 113,349,851.46 13.34 291,387.79 627 81.86 7.258 7.500-7.999 585 155,839,053.67 18.34 266,391.54 615 83.70 7.760 8.000-8.499 553 127,281,087.17 14.98 230,164.71 601 83.37 8.237 8.500-8.999 630 115,581,957.50 13.60 183,463.42 592 83.80 8.741 9.000-9.499 306 53,404,772.45 6.29 174,525.40 583 83.66 9.236 9.500-9.999 336 50,615,107.61 5.96 150,640.20 565 80.60 9.740 10.000-10.499 160 21,302,618.83 2.51 133,141.37 559 81.75 10.224 10.500-10.999 136 16,737,167.21 1.97 123,067.41 549 78.06 10.735 11.000-11.499 66 6,347,492.77 0.75 96,174.13 542 77.15 11.224 11.500-11.999 54 5,821,879.60 0.69 107,812.59 533 73.68 11.732 12.000-12.499 21 2,310,639.18 0.27 110,030.44 538 67.57 12.235 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 3,767 $ 849,562,351.89 100.00% $ 225,527.57 606 82.20% 8.043% - ---------------------------------------------------------------------------------------------------------------------------------- INITIAL INTEREST RATE ADJUSTMENT DATE OF THE ADJUSTABLE RATE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE INITIAL INTEREST RATE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS ADJUSTMENT DATE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 06/01/06 4 $ 815,477.23 0.10% $ 203,869.31 560 76.42% 7.085% 12/01/06 1 137,591.30 0.02 137,591.30 527 95.00 10.700 10/01/07 4 767,457.57 0.09 191,864.39 610 73.44 8.011 11/01/07 146 34,715,772.63 4.09 237,779.26 612 81.24 7.660 11/07/07 1 84,868.15 0.01 84,868.15 546 45.95 9.300 11/15/07 1 122,364.85 0.01 122,364.85 -- 68.06 10.900 11/16/07 3 310,081.31 0.04 103,360.44 588 80.94 9.974 11/18/07 1 151,716.04 0.02 151,716.04 581 80.00 8.400 11/21/07 1 83,541.50 0.01 83,541.50 539 35.00 10.150 11/22/07 1 222,538.89 0.03 222,538.89 514 58.68 7.900 11/28/07 1 67,370.59 0.01 67,370.59 590 95.00 10.600 12/01/07 2,762 636,369,740.21 74.91 230,401.79 605 82.28 8.037 01/01/08 552 101,699,940.39 11.97 184,239.02 602 84.10 8.555 11/01/08 3 680,361.55 0.08 226,787.18 590 81.34 7.809 12/01/08 89 21,802,767.37 2.57 244,974.91 620 80.56 7.792 01/01/09 15 3,050,101.03 0.36 203,340.07 624 81.03 7.769 10/01/10 1 765,747.12 0.09 765,747.12 617 41.62 5.500 11/01/10 18 4,822,999.00 0.57 267,944.39 630 75.88 6.899 12/01/10 138 37,002,846.81 4.36 268,136.57 625 80.18 7.466 01/01/11 23 5,734,256.39 0.67 249,315.50 629 80.71 7.788 12/01/20 2 154,811.96 0.02 77,405.98 568 86.16 10.467 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 3,767 $ 849,562,351.89 100.00% $ 225,527.57 606 82.20% 8.043% - ---------------------------------------------------------------------------------------------------------------------------------- 49 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (FIXED RATE COLLATERAL) - -------------------------------------------------------------------------------- COLLATERAL SUMMARY - -------------------------------------------------------------------------------- Statistics for the Mortgage Loans listed below are based on the Cut-off Date scheduled balances SCHEDULED PRINCIPAL BALANCE: $165,463,031.19 NUMBER OF MORTGAGE LOANS: 969 AVERAGE SCHEDULED PRINCIPAL BALANCE: $170,756.48 WEIGHTED AVERAGE GROSS COUPON: 7.871% WEIGHTED AVERAGE ORIGINAL CREDIT SCORE(3): 621 WEIGHTED AVERAGE ORIGINAL LTV RATIO(2): 75.01% WEIGHTED AVERAGE COMBINED LTV RATIO: 76.20% WEIGHTED AVERAGE STATED REMAINING TERM (MONTHS): 352 WEIGHTED AVERAGE ORIGINAL TERM (MONTHS): 355 INTEREST ONLY LOANS: 6.14% SILENT SECONDS: 6.16% - -------------------------------------------------------------------------------- (1) Includes adjustable-rate Mortgage Loans only. (2) The loan-to-value ("OLTV") at any given time is a fraction, expressed as a percentage, the numerator of which is the sum of (a) the principal balance of such mortgage loan at the date of origination plus (b) the outstanding balance of the senior mortgage loan at the date of origination of such mortgage loan and the denominator of which is (ii) the lesser of the sales price of the related mortgage property and its appraised value determined in an appraisal obtained by the originator at origination of the mortgage loan. (3) Does not include loans with no credit score available. 50 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (FIXED RATE COLLATERAL) PRODUCT TYPES OF THE FIXED RATE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS PRODUCT TYPE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 10 Fixed 2 $ 152,565.79 0.09% $ 76,282.90 612 53.35% 8.907% 15 Fixed 29 3,498,908.19 2.11 120,652.01 609 66.16 8.101 20 Fixed 19 1,746,056.81 1.06 91,897.73 597 71.61 8.394 30 Fixed 767 118,590,060.86 71.67 154,615.46 619 76.62 8.049 30 Fixed (Rate Reduction) 18 2,046,272.32 1.24 113,681.80 561 69.44 10.649 FIX_BAL 103 29,264,952.82 17.69 284,125.76 632 76.36 7.127 30 Fixed 5YR IO 31 10,164,214.40 6.14 327,877.88 641 76.76 7.197 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 969 $ 165,463,031.19 100.00% $ 170,756.48 621 76.20% 7.871% - ---------------------------------------------------------------------------------------------------------------------------------- CURRENT GROSS MORTGAGE RATE OF THE FIXED RATE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS CURRENT GROSS MORTGAGE RATE (%) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 5.000-5.499 1 $ 394,710.82 0.24% $ 394,710.82 678 65.00% 5.375% 5.500-5.999 9 4,192,181.00 2.53 465,797.89 642 64.56 5.891 6.000-6.499 72 21,734,099.11 13.14 301,862.49 640 70.91 6.277 6.500-6.999 119 40,141,729.24 24.26 337,325.46 640 73.55 6.762 7.000-7.499 69 17,504,031.34 10.58 253,681.61 635 74.62 7.239 7.500-7.999 109 22,256,776.91 13.45 204,190.61 624 75.45 7.736 8.000-8.499 74 13,165,861.21 7.96 177,917.04 606 77.21 8.284 8.500-8.999 74 10,603,065.48 6.41 143,284.67 601 80.95 8.735 9.000-9.499 65 7,623,098.73 4.61 117,278.44 602 81.64 9.250 9.500-9.999 79 8,520,649.05 5.15 107,856.32 579 80.33 9.724 10.000-10.499 48 4,793,299.55 2.90 99,860.41 582 81.22 10.186 10.500-10.999 75 5,204,336.27 3.15 69,391.15 596 87.14 10.771 11.000-11.499 58 3,222,780.59 1.95 55,565.18 598 84.35 11.234 11.500-11.999 64 3,548,679.02 2.14 55,448.11 585 89.81 11.686 12.000-12.499 48 2,332,904.12 1.41 48,602.17 572 86.01 12.145 12.500-12.999 3 127,640.01 0.08 42,546.67 600 74.96 12.563 13.000-13.499 1 67,206.92 0.04 67,206.92 586 84.82 13.350 13.500-13.999 1 29,981.82 0.02 29,981.82 596 75.30 13.600 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 969 $ 165,463,031.19 100.00% $ 170,756.48 621 76.20% 7.871% - ---------------------------------------------------------------------------------------------------------------------------------- 51 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (FIXED RATE COLLATERAL) ORIGINAL MORTGAGE LOAN PRINCIPAL BALANCE OF THE FIXED RATE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS ORIGINAL PRINCIPAL BALANCE ($) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 15,000.01-25,000.00 25 $ 552,478.22 0.33% $ 22,099.13 612 96.47% 11.280% 25,000.01-50,000.00 144 5,332,555.93 3.22 37,031.64 620 92.63 11.080 50,000.01-75,000.00 133 8,154,414.12 4.93 61,311.38 603 80.67 10.293 75,000.01-100,000.00 98 8,587,683.78 5.19 87,629.43 603 73.06 9.347 100,000.01-125,000.00 84 9,417,728.56 5.69 112,115.82 596 75.79 8.865 125,000.01-150,000.00 81 11,054,471.97 6.68 136,474.96 601 74.30 8.427 150,000.01-175,000.00 57 9,205,635.93 5.56 161,502.38 608 77.74 8.385 175,000.01-200,000.00 45 8,510,815.42 5.14 189,129.23 606 72.76 8.006 200,000.01-225,000.00 34 7,146,496.11 4.32 210,191.06 618 72.36 7.735 225,000.01-250,000.00 37 8,748,136.39 5.29 236,436.12 617 77.68 7.798 250,000.01-275,000.00 27 7,135,716.78 4.31 264,285.81 620 69.46 7.464 275,000.01-300,000.00 29 8,423,403.00 5.09 290,462.17 627 74.92 7.312 300,000.01-325,000.00 30 9,337,552.21 5.64 311,251.74 621 73.01 7.093 325,000.01-350,000.00 29 9,829,133.27 5.94 338,935.63 634 76.20 7.032 350,000.01-375,000.00 22 7,995,829.31 4.83 363,446.79 630 76.99 7.049 375,000.01-400,000.00 20 7,760,861.77 4.69 388,043.09 632 80.03 7.158 400,000.01-417,000.00 9 3,686,630.65 2.23 409,625.63 642 85.21 7.621 417,000.01-425,000.00 4 1,674,859.28 1.01 418,714.82 662 77.15 7.197 425,000.01-450,000.00 12 5,348,852.35 3.23 445,737.70 621 76.46 7.147 450,000.01-500,000.00 17 8,016,967.05 4.85 471,586.30 652 79.48 6.803 500,000.01-600,000.00 16 8,809,578.29 5.32 550,598.64 645 76.67 6.629 600,000.01-700,000.00 12 7,690,408.35 4.65 640,867.36 638 70.91 6.984 700,000.01-800,000.00 3 2,194,940.64 1.33 731,646.88 636 66.36 6.542 800,000.01-900,000.00 1 847,881.81 0.51 847,881.81 614 69.67 6.962 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 969 $ 165,463,031.19 100.00% $ 170,756.48 621 76.20% 7.871% - ---------------------------------------------------------------------------------------------------------------------------------- 52 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (FIXED RATE COLLATERAL) CURRENT MORTGAGE LOAN PRINCIPAL BALANCE OF THE FIXED RATE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS CURRENT PRINCIPAL BALANCE ($) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 15,000.01-25,000.00 25 $ 552,478.22 0.33% $ 22,099.13 612 96.47% 11.280% 25,000.01-50,000.00 147 5,482,071.04 3.31 37,293.00 620 92.00 11.038 50,000.01-75,000.00 130 8,004,899.01 4.84 61,576.15 603 80.87 10.307 75,000.01-100,000.00 99 8,687,302.55 5.25 87,750.53 602 72.54 9.350 100,000.01-125,000.00 84 9,443,067.55 5.71 112,417.47 598 76.49 8.856 125,000.01-150,000.00 81 11,079,212.50 6.70 136,780.40 601 73.64 8.414 150,000.01-175,000.00 56 9,055,937.64 5.47 161,713.17 608 78.37 8.395 175,000.01-200,000.00 46 8,686,923.82 5.25 188,846.17 607 72.19 7.993 200,000.01-225,000.00 34 7,195,324.49 4.35 211,627.19 615 73.74 7.866 225,000.01-250,000.00 36 8,523,199.61 5.15 236,755.54 619 77.22 7.698 250,000.01-275,000.00 27 7,135,716.78 4.31 264,285.81 620 69.46 7.464 275,000.01-300,000.00 30 8,722,585.80 5.27 290,752.86 627 74.31 7.279 300,000.01-325,000.00 29 9,038,369.41 5.46 311,667.91 621 73.53 7.118 325,000.01-350,000.00 31 10,528,867.31 6.36 339,640.88 634 75.31 7.028 350,000.01-375,000.00 20 7,296,095.27 4.41 364,804.76 631 78.34 7.056 375,000.01-400,000.00 20 7,760,861.77 4.69 388,043.09 632 80.03 7.158 400,000.01-417,000.00 9 3,686,630.65 2.23 409,625.63 642 85.21 7.621 417,000.01-425,000.00 4 1,674,859.28 1.01 418,714.82 662 77.15 7.197 425,000.01-450,000.00 13 5,798,690.25 3.50 446,053.10 624 77.12 7.057 450,000.01-500,000.00 16 7,567,129.15 4.57 472,945.57 652 79.15 6.851 500,000.01-600,000.00 17 9,408,047.72 5.69 553,414.57 647 77.02 6.637 600,000.01-700,000.00 11 7,091,938.92 4.29 644,721.72 636 69.96 7.004 700,000.01-800,000.00 3 2,194,940.64 1.33 731,646.88 636 66.36 6.542 800,000.01-900,000.00 1 847,881.81 0.51 847,881.81 614 69.67 6.962 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 969 $ 165,463,031.19 100.00% $ 170,756.48 621 76.20% 7.871% - ---------------------------------------------------------------------------------------------------------------------------------- REMAINING TERM TO MATURITY OF THE FIXED RATE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS REMAINING TERM (MONTHS) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 61-120 2 $ 152,565.79 0.09% $ 76,282.90 612 53.35% 8.907% 121-180 29 3,498,908.19 2.11 120,652.01 609 66.16 8.101 181-240 19 1,746,056.81 1.06 91,897.73 597 71.61 8.394 301-360 919 160,065,500.40 96.74 174,173.56 622 76.49 7.860 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 969 $ 165,463,031.19 100.00% $ 170,756.48 621 76.20% 7.871% - ---------------------------------------------------------------------------------------------------------------------------------- 53 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (FIXED RATE COLLATERAL) ORIGINAL TERM TO MATURITY OF THE FIXED RATE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS ORIGINAL TERM (MONTHS) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- <121 2 $ 152,565.79 0.09% $ 76,282.90 612 53.35% 8.907% 121-180 29 3,498,908.19 2.11 120,652.01 609 66.16 8.101 181-240 19 1,746,056.81 1.06 91,897.73 597 71.61 8.394 301-360 919 160,065,500.40 96.74 174,173.56 622 76.49 7.860 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 969 $ 165,463,031.19 100.00% $ 170,756.48 621 76.20% 7.871% - ---------------------------------------------------------------------------------------------------------------------------------- COMBINED LOAN-TO-VALUE RATIOS OF THE FIXED RATE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS COMBINED LTV (%) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- <25.01 7 $ 645,133.38 0.39% $ 92,161.91 584 19.34% 9.131% 25.01-30.00 7 747,879.81 0.45 106,839.97 582 28.15 7.975 30.01-35.00 7 870,773.64 0.53 124,396.23 618 31.47 7.945 35.01-40.00 13 2,271,102.32 1.37 174,700.18 614 37.37 7.959 40.01-45.00 16 2,532,801.56 1.53 158,300.10 617 43.18 7.310 45.01-50.00 17 3,531,508.50 2.13 207,735.79 609 47.26 7.118 50.01-55.00 24 3,360,159.95 2.03 140,006.66 621 52.60 7.704 55.01-60.00 44 7,810,209.16 4.72 177,504.75 617 57.69 7.404 60.01-65.00 91 19,833,911.49 11.99 217,955.07 613 63.47 7.295 65.01-70.00 69 16,372,797.84 9.90 237,286.93 620 68.93 7.400 70.01-75.00 69 17,171,617.86 10.38 248,864.03 625 73.96 7.322 75.01-80.00 155 32,190,100.83 19.45 207,678.07 626 79.36 7.715 80.01-85.00 84 16,723,928.79 10.11 199,094.39 628 83.86 7.785 85.01-90.00 70 12,708,999.74 7.68 181,557.14 617 89.59 8.557 90.01-95.00 64 10,911,019.92 6.59 170,484.69 615 94.36 8.717 95.01-100.00 232 17,781,086.40 10.75 76,642.61 630 99.89 9.235 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 969 $ 165,463,031.19 100.00% $ 170,756.48 621 76.20% 7.871% - ---------------------------------------------------------------------------------------------------------------------------------- 54 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (FIXED RATE COLLATERAL) ORIGINAL LOAN-TO-VALUE RATIOS OF THE FIXED RATE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS ORIGINAL LTV (%) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- <25.01 7 $ 645,133.38 0.39% $ 92,161.91 584 19.34% 9.131% 25.01-30.00 7 747,879.81 0.45 106,839.97 582 28.15 7.975 30.01-35.00 7 870,773.64 0.53 124,396.23 618 31.47 7.945 35.01-40.00 13 2,271,102.32 1.37 174,700.18 614 37.37 7.959 40.01-45.00 17 2,597,742.59 1.57 152,808.39 617 43.50 7.374 45.01-50.00 17 3,531,508.50 2.13 207,735.79 609 47.26 7.118 50.01-55.00 24 3,360,159.95 2.03 140,006.66 621 52.60 7.704 55.01-60.00 45 7,903,260.46 4.78 175,628.01 617 58.16 7.404 60.01-65.00 92 19,886,811.26 12.02 216,160.99 612 63.52 7.297 65.01-70.00 70 16,468,565.13 9.95 235,265.22 620 69.02 7.407 70.01-75.00 69 17,171,617.86 10.38 248,864.03 625 73.96 7.322 75.01-80.00 209 41,877,111.61 25.31 200,368.96 629 84.03 7.766 80.01-85.00 83 16,650,763.86 10.06 200,611.61 629 83.86 7.780 85.01-90.00 69 12,613,232.45 7.62 182,800.47 617 89.62 8.557 90.01-95.00 60 9,624,052.59 5.82 160,400.88 608 94.38 8.926 95.01-100.00 180 9,243,315.78 5.59 51,351.75 627 99.79 10.324 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 969 $ 165,463,031.19 100.00% $ 170,756.48 621 76.20% 7.871% - ---------------------------------------------------------------------------------------------------------------------------------- GEOGRAPHIC DISTRIBUTION OF MORTGAGED PROPERTIES OF THE FIXED RATE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS STATE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- CA 160 $ 44,796,300.97 27.07% $ 279,976.88 633 73.13% 7.069% NY 86 23,501,791.50 14.20 273,276.65 628 74.08 7.312 FL 142 22,231,849.22 13.44 156,562.32 615 76.95 8.188 TX 110 11,092,487.54 6.70 100,840.80 593 85.40 9.099 MA 33 7,701,014.02 4.65 233,364.06 632 76.02 7.608 HI 11 4,463,350.43 2.70 405,759.13 631 65.38 6.960 VA 33 4,448,432.43 2.69 134,800.98 607 77.79 8.557 NJ 22 4,406,748.44 2.66 200,306.75 608 74.05 8.512 MD 18 3,874,875.03 2.34 215,270.84 644 75.82 7.532 PA 33 3,717,218.59 2.25 112,642.99 589 72.97 8.824 CT 26 3,321,818.27 2.01 127,762.24 619 77.30 8.357 GA 28 3,034,650.83 1.83 108,380.39 611 84.44 8.700 Other 267 28,872,493.92 17.45 108,136.68 615 79.85 8.642 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 969 $ 165,463,031.19 100.00% $ 170,756.48 621 76.20% 7.871% - ---------------------------------------------------------------------------------------------------------------------------------- 55 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (FIXED RATE COLLATERAL) OCCUPANCY TYPE OF THE FIXED RATE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS OCCUPANCY TYPE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- Investment Property 15 $ 2,645,009.83 1.60% $ 176,333.99 644 66.98% 8.789% Primary Residence 943 160,655,632.17 97.09 170,366.52 621 76.29 7.851 Second Home 11 2,162,389.19 1.31 196,580.84 638 80.67 8.277 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL: 969 $ 165,463,031.19 100.00% $ 170,756.48 621 76.20% 7.871% - ---------------------------------------------------------------------------------------------------------------------------------- MORTGAGED PROPERTY TYPES OF THE FIXED RATE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS PROPERTY TYPE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- Condo 29 $ 4,648,833.32 2.81% $ 160,304.60 628 82.14% 8.059% Modular Home 11 1,486,740.01 0.90 135,158.18 638 67.69 8.984 Pud - Attached 3 478,069.38 0.29 159,356.46 628 69.85 7.342 Pud- Detached 46 10,525,974.51 6.36 228,825.53 630 77.12 7.585 One 820 130,969,620.41 79.15 159,719.05 618 76.83 7.930 2-4 Unit 60 17,353,793.56 10.49 289,229.89 639 70.16 7.469 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL: 969 $ 165,463,031.19 100.00% $ 170,756.48 621 76.20% 7.871% - ---------------------------------------------------------------------------------------------------------------------------------- MORTGAGE LOAN PURPOSE OF THE FIXED RATE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS LOAN PURPOSE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- Cash Out 576 $ 117,365,134.46 70.93% $ 203,758.91 620 72.47% 7.623% Purchase 303 33,025,801.22 19.96 108,996.04 622 89.66 8.839 Rate/Term Refinance 90 15,072,095.51 9.11 167,467.73 627 75.74 7.687 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL: 969 $ 165,463,031.19 100.00% $ 170,756.48 621 76.20% 7.871% - ---------------------------------------------------------------------------------------------------------------------------------- 56 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (FIXED RATE COLLATERAL) MORTGAGE LOAN DOCUMENTATION TYPES OF THE FIXED RATE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS DOCUMENTATION TYPE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- Full Doc 711 $ 107,522,264.86 64.98% $ 151,226.81 612 77.00% 7.982% Limited 5 1,315,201.79 0.79 263,040.36 624 80.41 8.456 Stated Doc 253 56,625,564.54 34.22 223,816.46 638 74.58 7.648 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL: 969 $ 165,463,031.19 100.00% $ 170,756.48 621 76.20% 7.871% - ---------------------------------------------------------------------------------------------------------------------------------- CREDIT SCORE DISTRIBUTION OF THE FIXED RATE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS CREDIT SCORE RANGE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- None 2 $ 160,519.57 0.10% $ 80,259.79 -- 74.55% 10.946% 475-499 2 108,619.41 0.07 54,309.71 493 96.29 11.279 500-524 42 6,161,252.85 3.72 146,696.50 516 73.66 9.904 525-549 50 5,823,918.14 3.52 116,478.36 538 75.89 9.719 550-574 71 10,459,601.85 6.32 147,318.34 562 71.93 8.624 575-599 189 25,901,736.52 15.65 137,046.22 589 74.97 8.351 600-624 212 36,175,769.31 21.86 170,640.42 613 74.63 7.752 625-649 177 33,745,023.12 20.39 190,649.85 637 78.70 7.604 650-674 136 25,944,019.75 15.68 190,764.85 661 78.54 7.356 675-699 88 20,982,570.67 12.68 238,438.30 686 76.38 7.025 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 969 $ 165,463,031.19 100.00% $ 170,756.48 621 76.20% 7.871% - ---------------------------------------------------------------------------------------------------------------------------------- PREPAYMENT PENALTY TERMS OF THE FIXED RATE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS PREPAYMENT PENALTY TERM (MONTHS) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 0 264 $ 28,635,833.35 17.31% $ 108,469.07 614 78.00% 8.753% 12 76 23,542,295.06 14.23 309,767.04 628 74.07 7.185 24 68 4,626,937.08 2.80 68,043.19 625 87.88 9.807 30 2 501,102.76 0.30 250,551.38 602 68.23 8.856 36 559 108,156,862.94 65.37 193,482.76 622 75.72 7.700 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 969 $ 165,463,031.19 100.00% $ 170,756.48 621 76.20% 7.871% - ---------------------------------------------------------------------------------------------------------------------------------- 57 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (FIXED RATE COLLATERAL) LIEN TYPES OF THE FIXED RATE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS LIEN TYPE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- First Lien 739 $ 155,071,478.78 93.72% $ 209,839.62 621 75.26% 7.665% Second Lien 230 10,391,552.41 6.28 45,180.66 627 90.21 10.946 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 969 $ 165,463,031.19 100.00% $ 170,756.48 621 76.20% 7.871% - ---------------------------------------------------------------------------------------------------------------------------------- 58 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (INTEREST ONLY COLLATERAL) - -------------------------------------------------------------------------------- COLLATERAL SUMMARY - -------------------------------------------------------------------------------- Statistics for the Mortgage Loans listed below are based on the Cut-off Date scheduled balances SCHEDULED PRINCIPAL BALANCE: $192,355,794.08 NUMBER OF MORTGAGE LOANS: 608 AVERAGE SCHEDULED PRINCIPAL BALANCE: $316,374.66 WEIGHTED AVERAGE GROSS COUPON: 7.344% WEIGHTED AVERAGE ORIGINAL CREDIT SCORE(3): 638 WEIGHTED AVERAGE ORIGINAL LTV RATIO(2): 80.56% WEIGHTED AVERAGE COMBINED LTV RATIO: 86.69% WEIGHTED AVERAGE STATED REMAINING TERM (MONTHS): 357 WEIGHTED AVERAGE ORIGINAL TERM (MONTHS): 360 WEIGHTED AVERAGE ROLL TERM(1) (MONTHS): 27 WEIGHTED AVERAGE GROSS MARGIN(1): 5.679% WEIGHTED AVERAGE INITIAL RATE CAP(1): 3.000% WEIGHTED AVERAGE PERIODIC RATE CAP(1): 1.000% WEIGHTED AVERAGE GROSS MAXIMUM LIFETIME RATE(1): 13.352% WEIGHTED AVERAGE GROSS MINIMUM LIFETIME RATE(1): 7.352% INTEREST ONLY LOANS: 100.00% SILENT SECONDS: 31.06% - -------------------------------------------------------------------------------- (1) Includes adjustable-rate Mortgage Loans only. (2) The loan-to-value ("OLTV") at any given time is a fraction, expressed as a percentage, the numerator of which is the sum of (a) the principal balance of such mortgage loan at the date of origination plus (b) the outstanding balance of the senior mortgage loan at the date of origination of such mortgage loan and the denominator of which is (ii) the lesser of the sales price of the related mortgage property and its appraised value determined in an appraisal obtained by the originator at origination of the mortgage loan. (3) Does not include loans with no credit score available. 59 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (INTEREST ONLY COLLATERAL) PRODUCT TYPES OF THE INTEREST-ONLY LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS PRODUCT TYPE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- IO (5 Yr) / 2 Yr Fixed / Adj / 30 Yr 513 $ 160,310,879.54 83.34% $ 312,496.84 637 87.93% 7.412% IO (5 Yr) / 3 Yr Fixed / Adj / 30 Yr 20 7,386,497.94 3.84 369,324.90 656 82.38 7.103 IO (5 Yr) / 30 Yr Fixed 31 10,164,214.40 5.28 327,877.88 641 76.76 7.197 IO (5 Yr) / 5 Yr Fixed / Adj / 30 Yr 44 14,494,202.20 7.54 329,413.69 645 82.17 6.809 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 608 $ 192,355,794.08 100.00% $ 316,374.66 638 86.69% 7.344% - ---------------------------------------------------------------------------------------------------------------------------------- CURRENT GROSS MORTGAGE RATE OF THE INTEREST-ONLY LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS CURRENT GROSS MORTGAGE RATE (%) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 5.000-5.499 1 $ 307,500.00 0.16% $ 307,500.00 615 76.88% 5.450% 5.500-5.999 18 7,049,449.42 3.66 391,636.08 649 74.60 5.757 6.000-6.499 64 22,832,740.02 11.87 356,761.56 643 85.49 6.315 6.500-6.999 134 50,283,605.02 26.14 375,250.78 644 83.81 6.775 7.000-7.499 104 33,064,340.15 17.19 317,926.35 644 86.83 7.250 7.500-7.999 118 37,068,662.23 19.27 314,141.21 637 89.52 7.765 8.000-8.499 77 21,495,544.82 11.17 279,162.92 626 88.25 8.221 8.500-8.999 60 13,480,548.13 7.01 224,675.80 624 91.43 8.712 9.000-9.499 21 4,468,400.50 2.32 212,780.98 627 94.00 9.230 9.500-9.999 10 1,977,003.79 1.03 197,700.38 621 95.40 9.715 10.000-10.499 1 328,000.00 0.17 328,000.00 645 100.00 10.200 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 608 $ 192,355,794.08 100.00% $ 316,374.66 638 86.69% 7.344% - ---------------------------------------------------------------------------------------------------------------------------------- 60 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (INTEREST ONLY COLLATERAL) ORIGINAL MORTGAGE LOAN PRINCIPAL BALANCE OF THE INTEREST-ONLY LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS ORIGINAL PRINCIPAL BALANCE ($) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 50,000.01-75,000.00 2 $ 147,000.00 0.08% $ 73,500.00 600 43.52% 7.886% 75,000.01-100,000.00 8 737,270.18 0.38 92,158.77 623 84.74 7.753 100,000.01-125000.00 36 4,081,707.91 2.12 113,380.78 619 89.91 8.202 125,000.01-150,000.00 39 5,384,086.92 2.80 138,053.51 630 89.47 8.083 150,000.01-175,000.00 48 7,726,320.82 4.02 160,965.02 628 87.62 7.860 175,000.01-200,000.00 33 6,218,855.23 3.23 188,450.16 639 92.17 8.062 200,000.01-225,000.00 48 10,251,580.76 5.33 213,574.60 635 89.00 7.561 225,000.01-250,000.00 30 7,070,965.34 3.68 235,698.84 636 83.63 7.336 250,000.01-275,000.00 37 9,669,548.27 5.03 261,339.14 627 84.98 7.391 275,000.01-300,000.00 30 8,783,161.57 4.57 292,772.05 631 89.03 7.222 300,000.01-325,000.00 33 10,364,997.91 5.39 314,090.85 638 84.72 7.155 325,000.01-350,000.00 38 12,809,240.71 6.66 337,085.28 652 85.98 7.161 350,000.01-375,000.00 44 16,022,505.44 8.33 364,147.85 641 85.65 7.245 375,000.01-400,000.00 29 11,254,987.90 5.85 388,103.03 634 84.56 7.159 400,000.01-417,000.00 16 6,531,623.02 3.40 408,226.44 635 88.36 7.664 417,000.01-425,000.00 7 2,945,347.00 1.53 420,763.86 638 86.06 7.232 425,000.01-450,000.00 26 11,371,916.69 5.91 437,381.41 634 88.03 7.255 450,000.01-500,000.00 27 12,751,603.79 6.63 472,281.62 646 87.85 6.968 500,000.01-600,000.00 45 24,496,591.83 12.74 544,368.71 645 87.83 7.233 600,000.01-700,000.00 18 11,730,432.41 6.10 651,690.69 644 87.50 7.408 700,000.01-800,000.00 9 6,811,629.21 3.54 756,847.69 642 86.77 7.295 800,000.01-900,000.00 3 2,513,421.17 1.31 837,807.06 628 75.05 7.402 1,000,000.01-1,100,000.00 1 1,050,000.00 0.55 1,050,000.00 603 70.00 6.500 1,600,000.01-1,700,000.00 1 1,631,000.00 0.85 1,631,000.00 692 70.00 5.575 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 608 $ 192,355,794.08 100.00% $ 316,374.66 638 86.69% 7.344% - ---------------------------------------------------------------------------------------------------------------------------------- 61 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (INTEREST ONLY COLLATERAL) CURRENT MORTGAGE LOAN PRINCIPAL BALANCE OF THE INTEREST-ONLY LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS CURRENT UNPAID PRINCIPAL BALANCE ($) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 50,000.01-75,000.00 2 $ 147,000.00 0.08% $ 73,500.00 600 43.52% 7.886% 75,000.01-100,000.00 8 737,270.18 0.38 92,158.77 623 84.74 7.753 100,000.01-125000.00 36 4,081,707.91 2.12 113,380.78 619 89.91 8.202 125,000.01-150,000.00 39 5,384,086.92 2.80 138,053.51 630 89.47 8.083 150,000.01-175,000.00 48 7,726,320.82 4.02 160,965.02 628 87.62 7.860 175,000.01-200,000.00 33 6,218,855.23 3.23 188,450.16 639 92.17 8.062 200,000.01-225,000.00 47 10,026,580.75 5.21 213,331.51 635 88.97 7.536 225,000.01-250,000.00 31 7,295,965.35 3.79 235,353.72 636 83.83 7.376 250,000.01-275,000.00 37 9,669,548.27 5.03 261,339.14 627 84.98 7.391 275,000.01-300,000.00 30 8,783,161.57 4.57 292,772.05 631 89.03 7.222 300,000.01-325,000.00 33 10,364,997.91 5.39 314,090.85 638 84.72 7.155 325,000.01-350,000.00 38 12,809,240.71 6.66 337,085.28 652 85.98 7.161 350,000.01-375,000.00 44 16,022,505.44 8.33 364,147.85 641 85.65 7.245 375,000.01-400,000.00 29 11,254,987.90 5.85 388,103.03 634 84.56 7.159 400,000.01-417,000.00 16 6,531,623.02 3.40 408,226.44 635 88.36 7.664 417,000.01-425,000.00 7 2,945,347.00 1.53 420,763.86 638 86.06 7.232 425,000.01-450,000.00 26 11,371,916.69 5.91 437,381.41 634 88.03 7.255 450,000.01-500,000.00 27 12,751,603.79 6.63 472,281.62 646 87.85 6.968 500,000.01-600,000.00 45 24,496,591.83 12.74 544,368.71 645 87.83 7.233 600,000.01-700,000.00 18 11,730,432.41 6.10 651,690.69 644 87.50 7.408 700,000.01-800,000.00 9 6,811,629.21 3.54 756,847.69 642 86.77 7.295 800,000.01-900,000.00 3 2,513,421.17 1.31 837,807.06 628 75.05 7.402 1,000,000.01-1,100,000.00 1 1,050,000.00 0.55 1,050,000.00 603 70.00 6.500 1,600,000.01-1,700,000.00 1 1,631,000.00 0.85 1,631,000.00 692 70.00 5.575 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 608 $ 192,355,794.08 100.00% $ 316,374.66 638 86.69% 7.344% - ---------------------------------------------------------------------------------------------------------------------------------- REMAINING TERM TO MATURITY OF THE INTEREST-ONLY LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS REMAINING TERM (MONTHS) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 301-360 608 $ 192,355,794.08 100.00% $ 316,374.66 638 86.69% 7.344% - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 608 $ 192,355,794.08 100.00% $ 316,374.66 638 86.69% 7.344% - ---------------------------------------------------------------------------------------------------------------------------------- ORIGINAL TERM TO MATURITY OF THE INTEREST-ONLY LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS ORIGINAL TERM (MONTHS) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 301-360 608 $ 192,355,794.08 100.00% $ 316,374.66 638 86.69% 7.344% - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 608 $ 192,355,794.08 100.00% $ 316,374.66 638 86.69% 7.344% - ---------------------------------------------------------------------------------------------------------------------------------- 62 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (INTEREST ONLY COLLATERAL) COMBINED LOAN-TO-VALUE RATIOS OF THE INTEREST-ONLY LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS COMBINED LTV (%) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- <25.01 1 $ 91,000.00 0.05% $ 91,000.00 590 17.01% 8.490% 25.01-30.00 2 230,400.00 0.12 115,200.00 643 27.23 6.863 30.01-35.00 1 380,000.00 0.20 380,000.00 635 30.40 6.050 35.01-40.00 1 648,000.00 0.34 648,000.00 606 36.00 8.300 40.01-45.00 3 427,200.00 0.22 142,400.00 644 42.05 7.067 45.01-50.00 4 928,899.46 0.48 232,224.87 609 48.16 6.472 50.01-55.00 5 921,701.00 0.48 184,340.20 645 53.26 6.848 55.01-60.00 12 3,683,662.94 1.92 306,971.91 630 58.59 6.908 60.01-65.00 24 6,992,437.76 3.64 291,351.57 622 63.33 6.934 65.01-70.00 33 12,867,836.42 6.69 389,934.44 631 68.94 6.641 70.01-75.00 40 13,208,496.78 6.87 330,212.42 614 73.62 7.118 75.01-80.00 65 23,040,832.43 11.98 354,474.35 629 79.56 7.144 80.01-85.00 53 18,356,702.55 9.54 346,352.88 637 84.67 7.364 85.01-90.00 91 34,521,750.86 17.95 379,359.90 642 89.64 7.575 90.01-95.00 53 15,741,910.90 8.18 297,017.19 645 94.70 7.822 95.01-100.00 220 60,314,962.98 31.36 274,158.92 649 99.98 7.450 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 608 $ 192,355,794.08 100.00% $ 316,374.66 638 86.69% 7.344% - ---------------------------------------------------------------------------------------------------------------------------------- ORIGINAL LOAN-TO-VALUE RATIOS OF THE INTEREST-ONLY LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS ORIGINAL LTV (%) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- <25.01 1 $ 91,000.00 0.05% $ 91,000.00 590 17.01% 8.490% 25.01-30.00 2 230,400.00 0.12 115,200.00 643 27.23 6.863 30.01-35.00 1 380,000.00 0.20 380,000.00 635 30.40 6.050 35.01-40.00 1 648,000.00 0.34 648,000.00 606 36.00 8.300 40.01-45.00 3 427,200.00 0.22 142,400.00 644 42.05 7.067 45.01-50.00 4 928,899.46 0.48 232,224.87 609 48.16 6.472 50.01-55.00 5 921,701.00 0.48 184,340.20 645 53.26 6.848 55.01-60.00 13 3,995,662.94 2.08 307,358.69 626 59.33 6.826 60.01-65.00 24 6,992,437.76 3.64 291,351.57 622 63.33 6.934 65.01-70.00 33 12,935,725.10 6.72 391,991.67 631 69.68 6.670 70.01-75.00 42 13,634,496.78 7.09 324,630.88 616 74.19 7.118 75.01-80.00 281 81,661,106.69 42.45 290,608.92 643 94.08 7.303 80.01-85.00 53 18,356,702.55 9.54 346,352.88 637 84.67 7.364 85.01-90.00 91 34,521,750.86 17.95 379,359.90 642 89.64 7.575 90.01-95.00 40 12,409,849.44 6.45 310,246.24 647 94.77 7.849 95.01-100.00 14 4,220,861.50 2.19 301,490.11 638 99.83 8.909 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 608 $ 192,355,794.08 100.00% $ 316,374.66 638 86.69% 7.344% - ---------------------------------------------------------------------------------------------------------------------------------- 63 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (INTEREST ONLY COLLATERAL) GEOGRAPHIC DISTRIBUTIONS OF MORTGAGED PROPERTIES OF THE INTEREST-ONLY LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS STATE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- CA 216 $ 85,079,813.11 44.23% $ 393,888.02 640 86.72% 7.029% NY 47 19,302,186.22 10.03 410,684.81 643 84.45 6.996 FL 81 18,936,410.47 9.84 233,782.85 637 91.24 8.068 MA 34 11,413,937.92 5.93 335,704.06 648 84.96 7.513 AZ 28 6,497,214.81 3.38 232,043.39 632 85.33 7.617 VA 25 6,426,203.33 3.34 257,048.13 634 87.14 7.621 MD 15 6,186,191.65 3.22 412,412.78 625 81.54 7.421 NJ 19 5,887,462.03 3.06 309,866.42 622 82.99 8.345 HI 13 5,621,799.46 2.92 432,446.11 636 71.88 7.176 CO 13 3,593,256.21 1.87 276,404.32 643 93.62 7.137 GA 16 2,763,292.11 1.44 172,705.76 621 92.72 7.806 NV 8 2,242,673.30 1.17 280,334.16 651 86.77 7.256 MN 8 1,845,569.07 0.96 230,696.13 630 88.66 7.780 Other 85 16,559,784.39 8.61 194,820.99 636 91.07 7.811 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 608 $ 192,355,794.08 100.00% $ 316,374.66 638 86.69% 7.344% - ---------------------------------------------------------------------------------------------------------------------------------- OCCUPANCY TYPES OF THE INTEREST-ONLY LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS OCCUPANCY TYPE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- Investment Property 2 $ 404,450.00 0.21% $ 202,225.00 656 84.36% 9.558% Primary Residence 604 191,238,224.08 99.42 316,619.58 638 86.68 7.340 Second Home 2 713,120.00 0.37 356,560.00 679 92.68 7.115 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL: 608 $ 192,355,794.08 100.00% $ 316,374.66 638 86.69% 7.344% - ---------------------------------------------------------------------------------------------------------------------------------- MORTGAGED PROPERTY TYPES OF THE INTEREST-ONLY LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS PROPERTY TYPE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- Condo 36 $ 8,384,735.66 4.36% $ 232,909.32 647 89.45% 7.810% Pud - Attached 8 2,158,067.00 1.12 269,758.38 651 93.86 7.476 Pud- Detached 59 17,729,097.29 9.22 300,493.17 638 89.09 7.408 One 457 144,554,355.92 75.15 316,311.50 637 86.48 7.295 2-4 Unit 48 19,529,538.21 10.15 406,865.38 641 84.15 7.428 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL: 608 $ 192,355,794.08 100.00% $ 316,374.66 638 86.69% 7.344% - ---------------------------------------------------------------------------------------------------------------------------------- 64 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (INTEREST ONLY COLLATERAL) MORTGAGED LOAN PURPOSE OF THE INTEREST-ONLY LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS LOAN PURPOSE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- Cash Out 322 $ 105,421,087.93 54.81% $ 327,394.68 632 80.83% 7.279% Purchase 256 78,764,406.41 40.95 307,673.46 646 94.85 7.439 Rate/Term Refinance 30 8,170,299.74 4.25 272,343.32 639 83.69 7.254 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL: 608 $ 192,355,794.08 100.00% $ 316,374.66 638 86.69% 7.344% - ---------------------------------------------------------------------------------------------------------------------------------- MORTGAGED LOAN DOCUMENTATION TYPES OF THE INTEREST-ONLY LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS DOCUMENTATION TYPE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- Full Doc 296 $ 80,254,149.07 41.72% $ 271,128.88 628 88.52% 7.251% Limited 3 1,235,076.84 0.64 411,692.28 639 94.24 6.693 Stated Doc 309 110,866,568.17 57.64 358,791.48 646 85.28 7.418 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL: 608 $ 192,355,794.08 100.00% $ 316,374.66 638 86.69% 7.344% - ---------------------------------------------------------------------------------------------------------------------------------- CREDIT SCORE DISTRIBUTION OF THE INTEREST-ONLY LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS CREDIT SCORE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 500-524 2 $ 379,800.00 0.20% $ 189,900.00 512 92.84% 9.527% 550-574 5 1,485,191.11 0.77 297,038.22 571 80.34 8.115 575-599 91 25,204,860.26 13.10 276,976.49 589 83.99 7.641 600-624 139 43,202,294.95 22.46 310,807.88 612 82.07 7.421 625-649 166 49,630,993.57 25.80 298,981.89 638 85.92 7.305 650-674 111 38,062,178.38 19.79 342,902.51 661 90.22 7.291 675-699 94 34,390,475.81 17.88 365,856.13 688 91.89 7.086 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 608 $ 192,355,794.08 100.00% $ 316,374.66 638 86.69% 7.344% - ---------------------------------------------------------------------------------------------------------------------------------- 65 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (INTEREST ONLY COLLATERAL) PREPAYMENT PENALTY TERMS OF THE INTEREST-ONLY LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS PREPAYMENT PENALTY TERM (MONTHS) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- 0 110 $ 32,179,989.63 16.73% $ 292,545.36 638 86.93% 7.913% 12 54 22,870,564.93 11.89 423,528.98 643 84.02 7.068 24 377 116,137,742.82 60.38 308,057.67 635 88.51 7.326 36 67 21,167,496.70 11.00 315,932.79 651 79.24 6.872 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 608 $ 192,355,794.08 100.00% $ 316,374.66 638 86.69% 7.344% - ---------------------------------------------------------------------------------------------------------------------------------- LIEN TYPES OF THE INTEREST-ONLY LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS LIEN TYPE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- First Lien 608 $ 192,355,794.08 100.00% $ 316,374.66 638 86.69% 7.344% - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 608 $ 192,355,794.08 100.00% $ 316,374.66 638 86.69% 7.344% - ---------------------------------------------------------------------------------------------------------------------------------- GROSS MARGIN OF THE INTEREST-ONLY LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS MARGIN (%) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- None 31 $ 10,164,214.40 5.28% $ 327,877.88 641 76.76% 7.197% 3.500-3.999 3 784,005.00 0.41 261,335.00 636 83.69 5.960 4.000-4.499 7 3,675,476.54 1.91 525,068.08 666 73.96 5.947 4.500-4.999 64 22,211,712.10 11.55 347,058.00 652 84.67 6.413 5.000-5.499 148 49,439,074.95 25.70 334,047.80 644 85.60 6.840 5.500-5.999 161 51,981,933.02 27.02 322,869.15 635 88.20 7.419 6.000-6.499 100 29,460,770.03 15.32 294,607.70 631 88.08 7.967 6.500-6.999 69 18,674,886.47 9.71 270,650.53 626 91.08 8.440 7.000-7.499 19 4,603,221.57 2.39 242,274.82 618 93.48 8.898 7.500-7.999 6 1,360,500.00 0.71 226,750.00 639 98.82 9.805 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 608 $ 192,355,794.08 100.00% $ 316,374.66 638 86.69% 7.344% - ---------------------------------------------------------------------------------------------------------------------------------- 66 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (INTEREST ONLY COLLATERAL) INITIAL INTEREST RATE CAP OF THE INTEREST-ONLY LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS INITIAL RATE CAP (%) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- None 31 $ 10,164,214.40 5.28% $ 327,877.88 641 76.76% 7.197% 3.000 577 182,191,579.68 94.72 315,756.64 638 87.25 7.352 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 608 $ 192,355,794.08 100.00% $ 316,374.66 638 86.69% 7.344% - ---------------------------------------------------------------------------------------------------------------------------------- PERIODIC INTEREST RATE CAP OF THE INTEREST-ONLY LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS PERIODIC RATE CAP (%) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- None 31 $ 10,164,214.40 5.28% $ 327,877.88 641 76.76% 7.197% 1.000 577 182,191,579.68 94.72 315,756.64 638 87.25 7.352 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 608 $ 192,355,794.08 100.00% $ 316,374.66 638 86.69% 7.344% - ---------------------------------------------------------------------------------------------------------------------------------- MAXIMUM MORTGAGE RATES OF THE ADJUSTABLE RATE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS MAXIMUM MORTGAGE RATES (%) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- None 31 $ 10,164,214.40 5.28% $ 327,877.88 641 76.76% 7.197% 11.000-11.499 1 307,500.00 0.16 307,500.00 615 76.88 5.450 11.500-11.999 18 7,049,449.42 3.66 391,636.08 649 74.60 5.757 12.000-12.499 56 20,069,241.08 10.43 358,379.31 642 86.38 6.315 12.500-12.999 124 47,090,759.56 24.48 379,764.19 643 84.70 6.771 13.000-13.499 101 31,717,340.15 16.49 314,033.07 643 87.08 7.245 13.500-13.999 115 36,220,662.23 18.83 314,962.28 637 89.45 7.766 14.000-14.499 73 20,386,944.82 10.60 279,273.22 627 89.86 8.214 14.500-14.999 58 12,980,028.13 6.75 223,793.59 625 91.46 8.705 15.000-15.499 20 4,064,650.50 2.11 203,232.53 628 93.90 9.223 15.500-15.999 10 1,977,003.79 1.03 197,700.38 621 95.40 9.715 16.000-16.499 1 328,000.00 0.17 328,000.00 645 100.00 10.200 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 608 $ 192,355,794.08 100.00% $ 316,374.66 638 86.69% 7.344% - ---------------------------------------------------------------------------------------------------------------------------------- 67 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- THE MORTGAGE LOANS (INTEREST ONLY COLLATERAL) MINIMUM MORTGAGE RATES OF THE ADJUSTABLE RATE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS MINIMUM MORTGAGE RATES (%) LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- None 31 $ 10,164,214.40 5.28% $ 327,877.88 641 76.76% 7.197% 5.000-5.499 1 307,500.00 0.16 307,500.00 615 76.88 5.450 5.500-5.999 18 7,049,449.42 3.66 391,636.08 649 74.60 5.757 6.000-6.499 56 20,069,241.08 10.43 358,379.31 642 86.38 6.315 6.500-6.999 124 47,090,759.56 24.48 379,764.19 643 84.70 6.771 7.000-7.499 101 31,717,340.15 16.49 314,033.07 643 87.08 7.245 7.500-7.999 115 36,220,662.23 18.83 314,962.28 637 89.45 7.766 8.000-8.499 73 20,386,944.82 10.60 279,273.22 627 89.86 8.214 8.500-8.999 58 12,980,028.13 6.75 223,793.59 625 91.46 8.705 9.000-9.499 20 4,064,650.50 2.11 203,232.53 628 93.90 9.223 9.500-9.999 10 1,977,003.79 1.03 197,700.38 621 95.40 9.715 10.000-10.499 1 328,000.00 0.17 328,000.00 645 100.00 10.200 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 608 $ 192,355,794.08 100.00% $ 316,374.66 638 86.69% 7.344% - ---------------------------------------------------------------------------------------------------------------------------------- INITIAL INTEREST RATE ADJUSTMENT DATE OF THE ADJUSTABLE RATE MORTGAGE LOANS - ---------------------------------------------------------------------------------------------------------------------------------- WEIGHTED AVERAGE PERCENTAGE WEIGHTED COMBINED WEIGHTED NUMBER OF OF AVERAGE AVERAGE LOAN-TO- AVERAGE MORTGAGE MORTGAGE PRINCIPAL CREDIT VALUE GROSS INITIAL INTEREST RATE ADJUSTMENT DATE LOANS PRINCIPAL BALANCE LOANS BALANCE SCORE RATIO COUPON - ---------------------------------------------------------------------------------------------------------------------------------- None 31 $ 10,164,214.40 5.28% $ 327,877.88 641 76.76% 7.197% 10/01/07 1 340,000.00 0.18 340,000.00 610 58.62 7.000 11/01/07 40 13,393,016.65 6.96 334,825.42 642 87.51 7.197 12/01/07 449 138,965,461.73 72.24 309,499.91 637 88.06 7.420 01/01/08 23 7,612,401.16 3.96 330,973.96 627 87.59 7.666 11/01/08 1 156,000.00 0.08 156,000.00 647 100.00 7.300 12/01/08 18 7,055,497.94 3.67 391,972.11 657 82.30 7.056 01/01/09 1 175,000.00 0.09 175,000.00 644 70.00 8.800 11/01/10 8 2,714,812.71 1.41 339,351.59 648 81.24 6.241 12/01/10 33 10,910,229.49 5.67 330,613.01 645 82.77 6.928 01/01/11 3 869,160.00 0.45 289,720.00 647 77.61 7.094 - ---------------------------------------------------------------------------------------------------------------------------------- GRAND TOTAL 608 $ 192,355,794.08 100.00% $ 316,374.66 638 86.69% 7.344% - ---------------------------------------------------------------------------------------------------------------------------------- 68 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering. CARRINGTON MORTGAGE LOAN TRUST, SERIES 2006-OPT1 $959,704,000 (APPROXIMATE) ASSET BACKED PASS-THROUGH CERTIFICATES MARCH 7, 2006 - -------------------------------------------------------------------------------- FOR MORE INFORMATION, PLEASE CALL: ------------------------------------------------- CITIGROUP GLOBAL MARKETS INC. ------------------------------------------------- MORTGAGE FINANCE Philip Seares 212-723-1145 Michael Murai 212-723-1256 Kapil Dargan 212-723-6195 MORTGAGE ANALYTICS Shekhar Shah 212-723-5386 Neil Aggarwal 212-723-6420 MORTGAGE TRADING Matt Cherwin 212-723-6325 Eliot Rubenzahl 212-723-6325 69 - -------------------------------------------------------------------------------- The Depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Depositor has filed with the SEC for more complete information about the Depositor and the offering.