Carrington Mortgage Loan Trust, Series 2007-FRE1 FWP Free writing prospectus

Free Writing Prospectus for

Carrington Mortgage Loan Trust, Series 2007-FRE1

(filed pursuant to Rule 433; SEC file No. 333-139507)

SUBJECT TO REVISION Dated February 20, 2007

MBS New Issue Free Writing Prospectus

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset-Backed Pass-Through Certificates

Carrington Securities, LP

Sponsor

Fremont Investment & Loan

Originator & Servicer

Stanwich Asset Acceptance Company, L.L.C.

Depositor

Carrington Mortgage Loan Trust, Series 2007-FRE1

Issuing Entity

February 20, 2007

Carrington Investment Services, LLC

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

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 by information contained in a preliminary prospectus relating to the Offered Certificates. 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 conveyed to you a preliminary prospectus relating to the Offered Certificates and 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 offered 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 1-800-337-1385.

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 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

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:	$1,073,327,357.80
	Number of Mortgage Loans:	4,183
	Average Scheduled Principal Balance:	$256,592.72
	Weighted Average Gross Coupon:	8.133%
	Weighted Average Original Credit Score:	608
	Weighted Average Original LTV Ratio²:	79.98%
	Weighted Average Combined Original LTV Ratio²:	82.56%
	Weighted Average Stated Remaining Term (months):	357
	Weighted Average Original Term (months):	359
	Weighted Average Original Roll Term¹ (months):	28
	Weighted Average Gross Margin¹:	5.649%
	Weighted Average Initial Rate Cap¹:	1.500%
	Weighted Average Periodic Rate Cap¹:	1.500%
	Interest Only Loans:	6.12%
	Silent Seconds:	15.20%

(1)	Includes adjustable-rate Mortgage Loans only.

(2)

The original loan-to-value (“OLTV”) of a first-lien mortgage is a fraction, expressed as a percentage, the numerator of which is the principal balance of the Mortgage Loan at the date of origination and the denominator of which is 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. The OLTV of a second lien Mortgage Loan is a fraction, expressed as a percentage the numerator of which is (i) 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.

The combined original loan-to-value (“CLTV”) of a mortgage is a fraction, expressed as a percentage, the numerator of which is (i) the sum of (a) the principal balance of such Mortgage Loan at the date of origination plus (b) either (x) for junior lien Mortgage Loans the outstanding balance of the senior lien mortgage loan at the date of origination of such Mortgage Loan, or (y) for first-lien Mortgage Loans the outstanding balance of any junior lien 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.

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Total Collateral)

Distribution by Product Type


Product Type	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
10 Fixed		4	$	176,663.70		0.02	%	$	44,165.92		650		100.00	%		10.787	%
15 Fixed		34		2,862,622.86		0.27			84,194.79		593		78.78			8.372
20 Fixed		6		1,000,336.71		0.09			166,722.79		631		75.83			7.806
2YR-ARM		815		170,944,364.10		15.93			209,747.69		581		78.39			8.928
2YR-ARM 5YR-IO		67		25,046,886.00		2.33			373,834.12		647		80.15			6.834
30 Fixed		673		105,842,117.15		9.86			157,269.12		622		78.44			8.077
3YR-ARM		447		95,997,814.29		8.94			214,760.21		592		77.87			8.716
3YR-ARM 3YR-IO		41		16,979,852.00		1.58			414,142.73		646		81.53			6.429
3YR-ARM 5YR-IO		55		21,256,386.00		1.98			386,479.75		648		80.68			6.544
40/30 2YR-ARM		174		48,399,212.79		4.51			278,156.40		599		78.29			8.305
40/30 3YR-ARM		139		44,495,787.28		4.15			320,113.58		614		83.11			7.846
40/30 Fixed		107		29,866,830.54		2.78			279,129.26		632		80.59			7.255
50/30 2YR-ARM		1,043		325,446,598.20		30.32			312,029.34		609		80.90			8.147
50/30 3YR-ARM		394		128,656,028.98		11.99			326,538.14		612		81.99			7.952
50/30 5YR-ARM		6		1,984,871.45		0.18			330,811.91		598		79.33			8.539
50/30 Fixed		161		48,835,673.98		4.55			303,327.17		633		79.18			7.365
5YR-ARM		10		3,086,911.78		0.29			308,691.18		605		78.92			7.661
5YR-ARM 5YR-IO		7		2,448,400.00		0.23			349,771.43		666		81.77			6.312
Total:		4,183	$	1,073,327,357.80		100.00	%	$	256,592.72		608		79.98	%		8.133	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Total Collateral)

Distribution by Current Gross Mortgage Rate


Current Gross Mortgage Rate (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
5.001—5.500		10	$	4,346,122.97		0.40	%	$	434,612.30		665		80.04	%		5.436	%
5.501—6.000		66		25,251,931.93		2.35			382,605.03		653		77.37			5.883
6.001—6.500		243		87,245,155.26		8.13			359,033.56		651		77.49			6.343
6.501—7.000		456		154,418,492.23		14.39			338,637.04		636		79.21			6.841
7.001—7.500		398		122,885,877.40		11.45			308,758.49		629		80.21			7.332
7.501—8.000		538		158,491,807.64		14.77			294,594.44		614		79.76			7.802
8.001—8.500		470		126,602,929.94		11.80			269,367.94		604		81.77			8.324
8.501—9.000		609		149,442,863.73		13.92			245,390.58		591		81.94			8.807
9.001—9.500		396		91,510,869.84		8.53			231,088.06		579		80.94			9.295
9.501—10.000		409		77,282,111.01		7.20			188,953.82		566		80.39			9.791
10.001—10.500		176		27,673,794.90		2.58			157,237.47		561		77.76			10.294
10.501—11.000		143		19,924,958.14		1.86			139,335.37		557		77.31			10.782
11.001—11.500		140		12,632,077.99		1.18			90,229.13		584		82.20			11.349
11.501—12.000		67		7,918,079.27		0.74			118,180.29		557		71.75			11.757
12.001—12.500		43		5,095,657.52		0.47			118,503.66		563		70.45			12.331
12.501—13.000		18		2,478,709.21		0.23			137,706.07		553		67.11			12.725
13.001—13.500		1		125,918.81		0.01			125,918.81		609		100.00			13.325
Total:		4,183	$	1,073,327,357.80		100.00	%	$	256,592.72		608		79.98	%		8.133	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Total Collateral)

Distribution by Original Principal Balance


Original Mortgage Loan Balance ($)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
0.01—50,000.00		135	$	4,545,650.29		0.42	%	$	33,671.48		638		95.73	%		10.983	%
50,000.01—100,000.00		514		40,379,579.75		3.76			78,559.49		598		81.92			9.587
100,000.01—150,000.00		652		81,538,331.78		7.60			125,058.79		596		78.41			8.946
150,000.01—200,000.00		660		115,072,907.53		10.72			174,352.89		599		77.68			8.452
200,000.01—250,000.00		528		118,931,030.90		11.08			225,248.16		597		78.62			8.310
250,000.01—300,000.00		385		106,005,794.30		9.88			275,339.73		604		78.53			8.204
300,000.01—350,000.00		300		97,753,173.97		9.11			325,843.91		611		79.71			7.944
350,000.01—400,000.00		272		102,005,860.74		9.50			375,021.55		614		81.03			7.827
400,000.01—450,000.00		178		75,360,817.08		7.02			423,375.38		613		80.71			7.953
450,000.01—500,000.00		141		67,234,231.18		6.26			476,838.52		612		80.71			7.805
500,000.01—550,000.00		132		69,198,718.51		6.45			524,232.72		614		82.27			7.844
550,000.01—600,000.00		92		52,956,482.63		4.93			575,613.94		617		82.28			7.783
600,000.01—650,000.00		58		36,205,178.58		3.37			624,227.22		618		82.08			7.730
650,000.01—700,000.00		48		32,443,009.46		3.02			675,896.03		616		81.95			7.753
700,000.01—750,000.00		32		23,311,690.12		2.17			728,490.32		620		82.73			7.637
750,000.01—800,000.00		31		24,539,431.19		2.29			791,594.55		611		78.19			7.930
800,000.01—850,000.00		2		1,686,105.61		0.16			843,052.80		639		79.41			6.350
850,000.01—900,000.00		3		2,631,829.44		0.25			877,276.48		622		78.70			6.785
900,000.01—950,000.00		2		1,836,043.68		0.17			918,021.84		642		78.74			6.623
950,000.01—1,000,000.00		6		5,886,736.30		0.55			981,122.72		648		77.12			6.800
1,000,000.01 >=		12		13,804,754.77		1.29			1,150,396.23		655		76.68			6.752
Total:		4,183	$	1,073,327,357.80		100.00	%	$	256,592.72		608		79.98	%		8.133	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Total Collateral)

Distribution by Current Unpaid Principal Balance


Current Unpaid Principal Balance ($)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
0.01—50,000.00		136	$	4,595,611.80		0.43	%	$	33,791.26		637		95.49	%		10.979	%
50,000.01—100,000.00		515		40,529,452.33		3.78			78,697.97		599		81.93			9.588
100,000.01—150,000.00		653		81,788,201.03		7.62			125,249.93		596		78.36			8.938
150,000.01—200,000.00		657		114,623,204.19		10.68			174,464.54		600		77.71			8.454
200,000.01—250,000.00		528		118,931,030.90		11.08			225,248.16		597		78.62			8.310
250,000.01—300,000.00		385		106,005,794.30		9.88			275,339.73		604		78.53			8.204
300,000.01—350,000.00		300		97,753,173.97		9.11			325,843.91		611		79.71			7.944
350,000.01—400,000.00		272		102,005,860.74		9.50			375,021.55		614		81.03			7.827
400,000.01—450,000.00		178		75,360,817.08		7.02			423,375.38		613		80.71			7.953
450,000.01—500,000.00		142		67,734,070.83		6.31			477,000.50		612		80.77			7.816
500,000.01—550,000.00		131		68,698,878.86		6.40			524,418.92		614		82.21			7.832
550,000.01—600,000.00		93		53,555,563.56		4.99			575,866.27		617		82.26			7.774
600,000.01—650,000.00		57		35,606,097.65		3.32			624,668.38		618		82.11			7.743
650,000.01—700,000.00		48		32,443,009.46		3.02			675,896.03		616		81.95			7.753
700,000.01—750,000.00		32		23,311,690.12		2.17			728,490.32		620		82.73			7.637
750,000.01—800,000.00		31		24,539,431.19		2.29			791,594.55		611		78.19			7.930
800,000.01—850,000.00		2		1,686,105.61		0.16			843,052.80		639		79.41			6.350
850,000.01—900,000.00		3		2,631,829.44		0.25			877,276.48		622		78.70			6.785
900,000.01—950,000.00		2		1,836,043.68		0.17			918,021.84		642		78.74			6.623
950,000.01—1,000,000.00		6		5,886,736.30		0.55			981,122.72		648		77.12			6.800
1,000,000.01 >=		12		13,804,754.77		1.29			1,150,396.23		655		76.68			6.752
Total:		4,183	$	1,073,327,357.80		100.00	%	$	256,592.72		608		79.98	%		8.133	%

Distribution by Remaining Term to Maturity


Remaining Term (months)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
61—120		4	$	176,663.70		0.02	%	$	44,165.92		650		100.00	%		10.787	%
121—180		34		2,862,622.86		0.27			84,194.79		593		78.78			8.372
181—240		6		1,000,336.71		0.09			166,722.79		631		75.83			7.806
301—360		4,139		1,069,287,734.53		99.62			258,344.46		608		79.98			8.132
Total:		4,183	$	1,073,327,357.80		100.00	%	$	256,592.72		608		79.98	%		8.133	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Total Collateral)

Distribution by Original Term to Maturity


Original Term (months)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
61—120		4	$	176,663.70		0.02	%	$	44,165.92		650		100.00	%		10.787	%
121—180		34		2,862,622.86		0.27			84,194.79		593		78.78			8.372
181—240		6		1,000,336.71		0.09			166,722.79		631		75.83			7.806
301—360		4,139		1,069,287,734.53		99.62			258,344.46		608		79.98			8.132
Total:		4,183	$	1,073,327,357.80		100.00	%	$	256,592.72		608		79.98	%		8.133	%

Distribution by Original Loan-to-Value Ratio


Original Loan-to-Value Ratio (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
15.01—20.00		3	$	235,701.82		0.02	%	$	78,567.27		613		17.08	%		8.636	%
20.01—25.00		3		354,428.18		0.03			118,142.73		615		22.99			7.289
25.01—30.00		6		710,397.87		0.07			118,399.64		566		28.59			9.091
30.01—35.00		10		1,671,148.07		0.16			167,114.81		570		32.16			8.762
35.01—40.00		16		2,961,549.36		0.28			185,096.84		589		37.70			7.753
40.01—45.00		29		5,856,715.67		0.55			201,955.71		599		43.37			8.007
45.01—50.00		57		10,657,688.50		0.99			186,976.99		604		47.59			8.238
50.01—55.00		62		13,163,581.86		1.23			212,315.84		586		52.38			8.468
55.01—60.00		84		18,924,237.21		1.76			225,288.54		595		58.00			7.942
60.01—65.00		193		49,702,828.31		4.63			257,527.61		598		63.44			8.201
65.01—70.00		272		65,870,618.60		6.14			242,171.39		591		68.85			8.510
70.01—75.00		363		99,420,867.24		9.26			273,886.69		592		74.03			8.249
75.01—80.00		1,380		381,393,144.52		35.53			276,371.84		608		79.64			8.054
80.01—85.00		446		126,996,051.39		11.83			284,744.51		610		84.46			7.809
85.01—90.00		816		234,290,458.75		21.83			287,120.66		620		89.72			8.042
90.01—95.00		135		33,654,351.54		3.14			249,291.49		623		94.64			8.133
95.01—100.00		308		27,463,588.92		2.56			89,167.50		638		99.94			9.983
Total:		4,183	$	1,073,327,357.80		100.00	%	$	256,592.72		608		79.98	%		8.133	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Total Collateral)

Distribution by Combined Original Loan-to-Value Ratio


Combined Original Loan-to-Value Ratio (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
15.01—20.00		3	$	235,701.82		0.02	%	$	78,567.27		613		17.08	%		8.636	%
20.01—25.00		3		354,428.18		0.03			118,142.73		615		22.99			7.289
25.01—30.00		6		710,397.87		0.07			118,399.64		566		28.59			9.091
30.01—35.00		9		1,585,229.72		0.15			176,136.64		568		32.09			8.814
35.01—40.00		15		2,901,589.18		0.27			193,439.28		590		37.65			7.678
40.01—45.00		29		5,856,715.67		0.55			201,955.71		599		43.37			8.007
45.01—50.00		56		10,544,133.11		0.98			188,288.09		604		47.58			8.230
50.01—55.00		62		13,163,581.86		1.23			212,315.84		586		52.38			8.468
55.01—60.00		82		18,117,753.16		1.69			220,948.21		597		58.05			7.966
60.01—65.00		191		48,785,155.48		4.55			255,419.66		598		63.43			8.235
65.01—70.00		254		61,686,302.71		5.75			242,859.46		589		68.84			8.514
70.01—75.00		340		92,508,729.01		8.62			272,084.50		590		73.97			8.256
75.01—80.00		957		272,781,741.56		25.41			285,038.39		597		79.48			8.116
80.01—85.00		423		124,595,350.70		11.61			294,551.66		611		84.07			7.749
85.01—90.00		700		210,318,374.01		19.59			300,454.82		621		89.37			7.938
90.01—95.00		168		42,682,786.89		3.98			254,064.21		620		91.15			8.199
95.01—100.00		885		166,499,386.87		15.51			188,134.90		631		84.86			8.423
Total:		4,183	$	1,073,327,357.80		100.00	%	$	256,592.72		608		79.98	%		8.133	%

Distribution by State


State	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
CA		706	$	270,238,944.24		25.18	%	$	382,774.71		621		79.21	%		7.587	%
NY		389		148,258,629.43		13.81			381,127.58		613		78.56			7.987
FL		536		118,771,146.33		11.07			221,587.96		600		79.58			8.395
MD		344		87,434,452.55		8.15			254,169.92		597		80.49			8.221
NJ		215		63,667,532.31		5.93			296,128.06		603		79.13			8.578
IL		225		44,520,211.09		4.15			197,867.60		609		80.33			8.612
MA		169		44,265,894.89		4.12			261,928.37		610		80.09			8.395
TX		217		33,237,008.34		3.10			153,165.94		606		79.66			8.066
VA		141		32,062,163.24		2.99			227,391.23		592		79.59			8.541
GA		122		21,495,507.54		2.00			176,192.68		607		83.13			8.489
AZ		90		20,513,088.24		1.91			227,923.20		607		81.45			8.196
WA		69		17,845,103.29		1.66			258,624.69		603		82.37			7.813
PA		123		16,760,128.39		1.56			136,261.21		592		80.61			8.839
CT		71		16,674,623.39		1.55			234,853.85		600		81.01			8.260
HI		34		13,558,330.34		1.26			398,774.42		619		81.09			7.943
Other		732		124,024,594.19		11.56			169,432.51		603		82.35			8.481
Total:		4,183	$	1,073,327,357.80		100.00	%	$	256,592.72		608		79.98	%		8.133	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Total Collateral)

Distribution by Occupancy Type


Occupancy	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
Investment Property		268	$	55,344,534.28		5.16	%	$	206,509.46		620		77.47	%		8.767	%
Owner Occupied		3,880		1,009,215,750.93		94.03			260,107.15		608		80.11			8.096
Second Home		35		8,767,072.59		0.82			250,487.79		609		80.47			8.367
Total:		4,183	$	1,073,327,357.80		100.00	%	$	256,592.72		608		79.98	%		8.133	%

Distribution by Property Type


Property Type	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
Single Family		3,420	$	854,789,735.42		79.64	%	$	249,938.52		607		80.16	%		8.109	%
Multi Family		562		178,009,590.98		16.58			316,743.04		615		78.82			8.155
Condo		200		40,375,394.15		3.76			201,876.97		612		81.29			8.517
Manufactured		1		152,637.25		0.01			152,637.25		569		90.00			9.750
Total:		4,183	$	1,073,327,357.80		100.00	%	$	256,592.72		608		79.98	%		8.133	%

Distribution by Loan Purpose


Loan Purpose	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
Cash Out		2,862	$	777,481,958.42		72.44	%	$	271,656.87		604		78.53	%		8.040	%
Purchase		1,207		265,336,995.74		24.72			219,831.81		621		84.15			8.419
Refinance		114		30,508,403.64		2.84			267,617.58		607		80.57			7.998
Total:		4,183	$	1,073,327,357.80		100.00	%	$	256,592.72		608		79.98	%		8.133	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Total Collateral)

Distribution by Documentation Type


Documentation Type	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
Full Documentation		2,697	$	659,177,305.68		61.41	%	$	244,411.31		605		80.56	%		7.852	%
Limited Documentation		51		14,475,844.78		1.35			283,840.09		608		81.30			7.958
Stated Documentation		1,435		399,674,207.34		37.24			278,518.61		614		78.97			8.602
Total:		4,183	$	1,073,327,357.80		100.00	%	$	256,592.72		608		79.98	%		8.133	%

Distribution by Credit Score


Credit Score Range	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
476—500		4	$	808,048.29		0.08	%	$	202,012.07		500		71.42	%		9.846	%
501—525		277		58,847,309.99		5.48			212,445.16		514		73.93			9.924
526—550		357		80,968,078.58		7.54			226,801.34		538		75.28			9.360
551—575		591		142,266,064.78		13.25			240,720.92		562		78.36			8.806
576—600		549		138,430,236.66		12.90			252,149.79		589		79.74			8.441
601—625		825		219,942,114.49		20.49			266,596.50		612		81.52			7.918
626—650		828		215,990,585.63		20.12			260,858.20		639		81.50			7.666
651—675		511		146,966,095.09		13.69			287,604.88		662		81.79			7.237
676—700		241		69,108,824.28		6.44			286,758.61		686		81.01			7.192
Total:		4,183	$	1,073,327,357.80		100.00	%	$	256,592.72		608		79.98	%		8.133	%

Distribution by Original Prepayment Penalty Term


Prepayment Penalty Terms (months)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
0		1,414	$	322,736,002.75		30.07	%	$	228,243.28		603		80.16	%		8.525	%
12		575		199,228,330.24		18.56			346,484.05		615		79.80			7.975
24		1,399		360,116,723.67		33.55			257,410.10		602		80.31			8.234
30		10		2,126,975.18		0.20			212,697.52		591		84.95			8.763
36		785		189,119,325.96		17.62			240,916.34		624		79.19			7.427
Total:		4,183	$	1,073,327,357.80		100.00	%	$	256,592.72		608		79.98	%		8.133	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Total Collateral)

Distribution by Lien Type


Lien Type	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
1		3,933	$	1,058,321,987.12		98.60	%	$	269,087.72		608		79.70	%		8.090	%
2		250		15,005,370.68		1.40			60,021.48		643		99.74			11.131
Total:		4,183	$	1,073,327,357.80		100.00	%	$	256,592.72		608		79.98	%		8.133	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

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:	$884,743,112.86
	Number of Mortgage Loans:	3,198
	Average Scheduled Principal Balance:	$276,655.13
	Weighted Average Gross Coupon:	8.210%
	Weighted Average Original Credit Score:	605
	Weighted Average Original LTV Ratio²:	80.19%
	Weighted Average Combined Original LTV Ratio²:	83.05%
	Weighted Average Stated Remaining Term (months):	357
	Weighted Average Original Term (months):	360
	Weighted Average Original Roll Term¹ (months):	28
	Weighted Average Gross Margin¹:	5.649%
	Weighted Average Initial Rate Cap¹:	1.500%
	Weighted Average Periodic Rate Cap¹:	1.500%
	Interest Only Loans:	7.43%
	Silent Seconds:	16.93%

(1)	Includes adjustable-rate Mortgage Loans only.

(2)

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Adjustable Rate Collateral)

Distribution by Product Type


Product Type	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
2YR-ARM		815	$	170,944,364.10		19.32	%	$	209,747.69		581		78.39	%		8.928	%
2YR-ARM 5YR-IO		67		25,046,886.00		2.83			373,834.12		647		80.15			6.834
3YR-ARM		447		95,997,814.29		10.85			214,760.21		592		77.87			8.716
3YR-ARM 3YR-IO		41		16,979,852.00		1.92			414,142.73		646		81.53			6.429
3YR-ARM 5YR-IO		55		21,256,386.00		2.40			386,479.75		648		80.68			6.544
40/30 2YR-ARM		174		48,399,212.79		5.47			278,156.40		599		78.29			8.305
40/30 3YR-ARM		139		44,495,787.28		5.03			320,113.58		614		83.11			7.846
50/30 2YR-ARM		1,043		325,446,598.20		36.78			312,029.34		609		80.90			8.147
50/30 3YR-ARM		394		128,656,028.98		14.54			326,538.14		612		81.99			7.952
50/30 5YR-ARM		6		1,984,871.45		0.22			330,811.91		598		79.33			8.539
5YR-ARM		10		3,086,911.78		0.35			308,691.18		605		78.92			7.661
5YR-ARM 5YR-IO		7		2,448,400.00		0.28			349,771.43		666		81.77			6.312
Total:		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%

Distribution by Current Gross Mortgage Rate


Current Gross Mortgage Rate (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
5.001—5.500		10	$	4,346,122.97		0.49	%	$	434,612.30		665		80.04	%		5.436	%
5.501—6.000		59		23,133,798.81		2.61			392,098.28		652		78.11			5.874
6.001—6.500		129		51,124,463.91		5.78			396,313.67		647		78.80			6.322
6.501—7.000		282		104,430,749.80		11.80			370,321.81		636		80.00			6.851
7.001—7.500		300		100,297,978.93		11.34			334,326.60		628		80.60			7.334
7.501—8.000		445		136,579,816.16		15.44			306,920.94		615		80.02			7.799
8.001—8.500		415		116,321,848.71		13.15			280,293.61		603		81.99			8.322
8.501—9.000		542		138,331,507.00		15.64			255,224.18		591		82.24			8.807
9.001—9.500		364		85,938,532.81		9.71			236,094.87		579		81.17			9.296
9.501—10.000		322		69,339,757.15		7.84			215,340.86		564		80.17			9.786
10.001—10.500		121		21,695,913.18		2.45			179,305.07		552		76.42			10.302
10.501—11.000		80		14,042,749.90		1.59			175,534.37		539		73.49			10.766
11.001—11.500		52		7,078,224.03		0.80			136,119.69		540		69.39			11.308
11.501—12.000		39		5,863,668.72		0.66			150,350.48		539		64.11			11.768
12.001—12.500		29		4,099,092.92		0.46			141,348.03		550		63.31			12.325
12.501—13.000		9		2,118,887.84		0.24			235,431.98		541		62.33			12.717
Total:		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Adjustable Rate Collateral)

Distribution by Original Principal Balance


Original Mortgage Loan Balance ($)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
0.01—50,000.00		6	$	299,755.32		0.03	%	$	49,959.22		592		61.71	%		10.892	%
50,000.01—100,000.00		314		24,860,217.31		2.81			79,172.67		583		78.88			9.472
100,000.01—150,000.00		491		61,651,768.13		6.97			125,563.68		590		78.42			9.052
150,000.01—200,000.00		512		89,333,440.83		10.10			174,479.38		593		78.30			8.652
200,000.01—250,000.00		438		99,105,114.03		11.20			226,267.38		593		78.98			8.446
250,000.01—300,000.00		317		87,128,335.50		9.85			274,852.79		600		79.36			8.361
300,000.01—350,000.00		253		82,434,296.16		9.32			325,827.26		606		80.18			8.099
350,000.01—400,000.00		223		83,728,288.83		9.46			375,463.18		611		81.44			7.951
400,000.01—450,000.00		154		65,220,376.16		7.37			423,508.94		611		80.83			8.082
450,000.01—500,000.00		120		57,233,306.79		6.47			476,944.22		608		81.41			7.929
500,000.01—550,000.00		115		60,339,046.04		6.82			524,687.36		612		82.47			7.970
550,000.01—600,000.00		83		47,794,004.25		5.40			575,831.38		616		82.44			7.820
600,000.01—650,000.00		54		33,724,480.85		3.81			624,527.42		618		81.95			7.746
650,000.01—700,000.00		42		28,335,187.38		3.20			674,647.32		614		82.34			7.792
700,000.01—750,000.00		27		19,681,600.04		2.22			728,948.15		615		82.42			7.784
750,000.01—800,000.00		29		22,957,815.68		2.59			791,648.82		610		78.07			8.016
800,000.01—850,000.00		1		836,756.99		0.09			836,756.99		638		85.00			5.700
850,000.01—900,000.00		3		2,631,829.44		0.30			877,276.48		622		78.70			6.785
900,000.01—950,000.00		1		920,000.00		0.10			920,000.00		698		80.00			5.500
950,000.01—1,000,000.00		5		4,929,181.67		0.56			985,836.33		648		76.56			6.790
1,000,000.01 >=		10		11,598,311.47		1.31			1,159,831.15		651		76.05			6.834
Total:		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Adjustable Rate Collateral)

Distribution by Current Unpaid Principal Balance


Current Unpaid Principal Balance ($)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
0.01—50,000.00		6	$	299,755.32		0.03	%	$	49,959.22		592		61.71	%		10.892	%
50,000.01—100,000.00		316		25,060,051.41		2.83			79,303.96		584		78.91			9.477
100,000.01—150,000.00		490		61,601,719.82		6.96			125,717.80		590		78.41			9.048
150,000.01—200,000.00		511		89,183,655.05		10.08			174,527.70		593		78.30			8.652
200,000.01—250,000.00		438		99,105,114.03		11.20			226,267.38		593		78.98			8.446
250,000.01—300,000.00		317		87,128,335.50		9.85			274,852.79		600		79.36			8.361
300,000.01—350,000.00		253		82,434,296.16		9.32			325,827.26		606		80.18			8.099
350,000.01—400,000.00		223		83,728,288.83		9.46			375,463.18		611		81.44			7.951
400,000.01—450,000.00		154		65,220,376.16		7.37			423,508.94		611		80.83			8.082
450,000.01—500,000.00		121		57,733,146.44		6.53			477,133.44		608		81.48			7.942
500,000.01—550,000.00		114		59,839,206.38		6.76			524,905.32		612		82.41			7.958
550,000.01—600,000.00		84		48,393,085.18		5.47			576,108.16		617		82.41			7.809
600,000.01—650,000.00		53		33,125,399.92		3.74			625,007.55		617		81.99			7.760
650,000.01—700,000.00		42		28,335,187.38		3.20			674,647.32		614		82.34			7.792
700,000.01—750,000.00		27		19,681,600.04		2.22			728,948.15		615		82.42			7.784
750,000.01—800,000.00		29		22,957,815.68		2.59			791,648.82		610		78.07			8.016
800,000.01—850,000.00		1		836,756.99		0.09			836,756.99		638		85.00			5.700
850,000.01—900,000.00		3		2,631,829.44		0.30			877,276.48		622		78.70			6.785
900,000.01—950,000.00		1		920,000.00		0.10			920,000.00		698		80.00			5.500
950,000.01—1,000,000.00		5		4,929,181.67		0.56			985,836.33		648		76.56			6.790
1,000,000.01 >=		10		11,598,311.47		1.31			1,159,831.15		651		76.05			6.834
Total:		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%

Distribution by Remaining Term to Maturity


Remaining Term (months)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
301—360		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%
Total:		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Adjustable Rate Collateral)

Distribution by Original Term to Maturity


Original Term (months)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
301—360		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%
Total:		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%

Distribution by Original Loan-to-Value Ratio


Original Loan-to-Value Ratio (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
15.01—20.00		1	$	49,973.99		0.01	%	$	49,973.99		599		20.00	%		12.450	%
25.01—30.00		4		560,592.77		0.06			140,148.19		566		29.02			9.155
30.01—35.00		8		1,445,359.78		0.16			180,669.97		572		32.00			8.719
35.01—40.00		10		2,022,616.58		0.23			202,261.66		586		37.91			7.490
40.01—45.00		16		3,353,471.20		0.38			209,591.95		582		43.43			8.601
45.01—50.00		38		6,658,985.74		0.75			175,236.47		590		47.76			8.882
50.01—55.00		45		10,218,625.07		1.15			227,080.56		582		52.48			8.566
55.01—60.00		60		13,739,905.97		1.55			228,998.43		585		57.68			8.299
60.01—65.00		139		39,184,590.53		4.43			281,903.53		594		63.44			8.340
65.01—70.00		229		54,948,768.99		6.21			239,950.96		585		68.86			8.717
70.01—75.00		276		78,118,225.74		8.83			283,037.05		586		74.10			8.437
75.01—80.00		1,166		324,088,967.11		36.63			277,949.37		605		79.67			8.176
80.01—85.00		349		105,619,409.99		11.94			302,634.41		607		84.49			7.864
85.01—90.00		697		206,175,625.81		23.30			295,804.34		618		89.75			8.111
90.01—95.00		98		27,195,478.03		3.07			277,504.88		617		94.71			8.216
95.01—100.00		62		11,362,515.58		1.28			183,266.38		631		99.97			8.793
Total:		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Adjustable Rate Collateral)

Distribution by Combined Original Loan-to-Value Ratio


Combined Original Loan-to-Value Ratio (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
15.01—20.00		1	$	49,973.99		0.01	%	$	49,973.99		599		20.00	%		12.450	%
25.01—30.00		4		560,592.77		0.06			140,148.19		566		29.02			9.155
30.01—35.00		8		1,445,359.78		0.16			180,669.97		572		32.00			8.719
35.01—40.00		9		1,962,656.40		0.22			218,072.93		587		37.85			7.372
40.01—45.00		16		3,353,471.20		0.38			209,591.95		582		43.43			8.601
45.01—50.00		37		6,545,430.36		0.74			176,903.52		591		47.75			8.880
50.01—55.00		45		10,218,625.07		1.15			227,080.56		582		52.48			8.566
55.01—60.00		58		12,933,421.91		1.46			222,990.03		587		57.72			8.355
60.01—65.00		137		38,266,917.70		4.33			279,320.57		593		63.43			8.386
65.01—70.00		214		51,928,781.36		5.87			242,657.86		584		68.87			8.713
70.01—75.00		257		72,589,687.24		8.20			282,450.14		584		74.04			8.461
75.01—80.00		775		223,498,864.68		25.26			288,385.63		592		79.51			8.281
80.01—85.00		328		103,072,739.01		11.65			314,246.16		608		84.07			7.821
85.01—90.00		590		183,020,210.09		20.69			310,203.75		618		89.41			8.008
90.01—95.00		128		35,404,031.70		4.00			276,594.00		614		90.71			8.299
95.01—100.00		591		139,892,349.62		15.81			236,704.48		629		83.49			8.181
Total:		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%

Distribution by State


State	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
CA		577	$	233,873,364.96		26.43	%	$	405,326.46		619		79.60	%		7.628	%
NY		290		115,627,335.26		13.07			398,714.95		608		79.05			8.141
FL		401		96,816,793.60		10.94			241,438.39		595		80.24			8.524
MD		279		75,375,088.43		8.52			270,161.61		596		81.09			8.238
NJ		177		53,867,513.96		6.09			304,336.24		598		78.96			8.722
IL		180		38,717,353.73		4.38			215,096.41		605		80.18			8.677
MA		124		36,267,742.60		4.10			292,481.80		606		79.26			8.420
VA		111		26,010,601.73		2.94			234,329.75		584		78.83			8.628
GA		95		18,594,421.56		2.10			195,730.75		604		82.55			8.510
AZ		76		18,109,599.57		2.05			238,284.20		606		81.64			8.263
TX		107		16,981,804.86		1.92			158,708.46		597		80.12			8.232
WA		55		14,604,911.34		1.65			265,543.84		595		82.46			7.992
PA		91		13,369,311.87		1.51			146,915.52		587		80.30			8.952
CT		53		12,994,145.87		1.47			245,172.56		591		80.20			8.580
NC		58		10,494,733.33		1.19			180,943.68		596		81.93			8.654
Other		524		103,038,390.18		11.65			196,638.15		601		82.25			8.447
Total:		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Adjustable Rate Collateral)

Distribution by Occupancy Type


Occupancy	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
Investment Property		231	$	50,073,747.73		5.66	%	$	216,769.47		617		77.32	%		8.799	%
Owner Occupied		2,934		826,677,264.68		93.44			281,757.76		604		80.36			8.173
Second Home		33		7,992,100.46		0.90			242,184.86		605		80.41			8.355
Total:		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%

Distribution by Property Type


Property Type	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
Single Family		2,615	$	705,194,657.95		79.71	%	$	269,672.91		603		80.40	%		8.194	%
Multi Family		426		144,678,089.17		16.35			339,619.93		611		78.93			8.228
Condo		156		34,717,728.50		3.92			222,549.54		611		81.06			8.470
Manufactured		1		152,637.25		0.02			152,637.25		569		90.00			9.750
Total:		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%

Distribution by Loan Purpose


Loan Purpose	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
Cash Out		2,203	$	633,506,011.55		71.60	%	$	287,565.14		600		78.87	%		8.156	%
Purchase		914		230,526,023.18		26.06			252,216.66		619		83.76			8.349
Refinance		81		20,711,078.13		2.34			255,692.32		599		80.91			8.330
Total:		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Adjustable Rate Collateral)

Distribution by Documentation Type


Documentation Type	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
Full Documentation		1,970	$	515,020,883.69		58.21	%	$	261,431.92		600		80.90	%		7.949	%
Limited Documentation		39		12,050,266.34		1.36			308,981.19		604		82.26			8.000
Stated Documentation		1,189		357,671,962.84		40.43			300,817.46		612		79.10			8.594
Total:		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%

Distribution by Credit Score


Credit Score Range	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
476—500		4	$	808,048.29		0.09	%	$	202,012.07		500		71.42	%		9.846	%
501—525		256		54,803,024.85		6.19			214,074.32		514		74.20			9.900
526—550		320		74,188,498.16		8.39			231,839.06		538		75.36			9.374
551—575		513		128,596,789.35		14.53			250,676.00		562		78.99			8.806
576—600		459		120,259,662.65		13.59			262,003.62		589		80.22			8.475
601—625		624		181,003,086.11		20.46			290,069.05		612		82.18			7.992
626—650		528		162,958,372.45		18.42			308,633.28		639		81.40			7.635
651—675		338		112,393,722.79		12.70			332,525.81		663		82.06			7.225
676—700		156		49,731,908.22		5.62			318,794.28		685		81.76			7.308
Total:		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%

Distribution by Original Prepayment Penalty Term


Prepayment Penalty Terms (months)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
0		1,081	$	271,877,505.06		30.73	%	$	251,505.56		600		80.07	%		8.579	%
12		453		162,629,469.88		18.38			359,005.45		611		80.43			8.082
24		1,298		347,452,999.99		39.27			267,683.36		601		80.12			8.203
30		8		1,622,386.24		0.18			202,798.28		582		84.11			8.923
36		358		101,160,751.69		11.43			282,571.93		620		80.31			7.438
Total:		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Adjustable Rate Collateral)

Distribution by Initial Interest Rate Cap


Initial Cap (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
1.500		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%
Total:		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%

Distribution by Periodic Interest Rate Cap


Periodic Cap (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
1.500		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%
Total:		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%

Distribution by Gross Margin


ARM Margin (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
2.001—3.000		4	$	1,578,035.47		0.18	%	$	394,508.87		651		83.93	%		5.323	%
3.001—4.000		147		58,383,851.70		6.60			397,169.06		653		78.09			6.065
4.001—5.000		532		191,296,663.34		21.62			359,580.19		633		80.00			6.994
5.001—6.000		925		267,551,484.63		30.24			289,244.85		611		80.69			8.000
6.001—7.000		1,590		365,933,077.74		41.36			230,146.59		578		80.24			9.354
Total:		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Adjustable Rate Collateral)

Distribution by Maximum Mortgage Rate


Maximum Mortgage Rate (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
11.001—12.000		69	$	27,479,921.79		3.11	%	$	398,259.74		654		78.42	%		5.804	%
12.001—13.000		411		155,555,213.72		17.58			378,479.84		639		79.60			6.677
13.001—14.000		745		236,877,795.09		26.77			317,956.77		621		80.27			7.602
14.001—15.000		957		254,653,355.71		28.78			266,095.46		596		82.13			8.586
15.001—16.000		686		155,278,289.96		17.55			226,353.19		572		80.73			9.515
16.001—17.000		201		35,738,663.09		4.04			177,804.29		547		75.27			10.484
17.001—18.000		91		12,941,892.75		1.46			142,218.60		540		66.99			11.516
18.001—19.000		38		6,217,980.76		0.70			163,631.07		547		62.98			12.459
Total:		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%

Distribution by Minimum Mortgage Rate


Minimum Mortgage Rate (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
5.001—6.000		69	$	27,479,921.79		3.11	%	$	398,259.74		654		78.42	%		5.804	%
6.001—7.000		411		155,555,213.72		17.58			378,479.84		639		79.60			6.677
7.001—8.000		745		236,877,795.09		26.77			317,956.77		621		80.27			7.602
8.001—9.000		957		254,653,355.71		28.78			266,095.46		596		82.13			8.586
9.001—10.000		686		155,278,289.96		17.55			226,353.19		572		80.73			9.515
10.001—11.000		201		35,738,663.09		4.04			177,804.29		547		75.27			10.484
11.001—12.000		91		12,941,892.75		1.46			142,218.60		540		66.99			11.516
12.001 >=		38		6,217,980.76		0.70			163,631.07		547		62.98			12.459
Total:		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Adjustable Rate Collateral)

Distribution by Initial Rate Adjustment Date


Initial Interest Rate Adjustment Date	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
2008-01-01		1	$	154,557.78		0.02	%	$	154,557.78		594		80.00	%		8.300	%
2008-04-01		1		172,252.85		0.02			172,252.85		603		80.00			8.100
2008-05-01		1		181,600.00		0.02			181,600.00		691		80.00			7.990
2008-06-01		1		126,727.02		0.01			126,727.02		634		80.00			9.260
2008-07-01		7		1,022,278.03		0.12			146,039.72		643		79.47			8.857
2008-08-01		2		257,361.48		0.03			128,680.74		654		80.00			7.652
2008-09-01		29		6,690,568.54		0.76			230,709.26		586		78.40			9.136
2008-10-01		53		15,894,606.58		1.80			299,898.24		591		79.24			8.491
2008-11-01		140		43,793,268.82		4.95			312,809.06		590		80.06			8.418
2008-12-01		1,150		312,672,359.08		35.34			271,889.01		603		80.18			8.401
2009-01-01		714		188,871,480.89		21.35			264,525.88		603		79.49			8.169
2009-09-01		3		958,026.51		0.11			319,342.17		642		81.55			7.122
2009-10-01		26		7,849,432.33		0.89			301,901.24		578		77.01			9.283
2009-11-01		78		26,566,792.20		3.00			340,599.90		610		79.49			8.088
2009-12-01		613		173,103,071.84		19.57			282,386.74		613		81.03			7.981
2010-01-01		356		98,908,545.68		11.18			277,832.99		609		80.88			7.897
2011-12-01		13		4,913,912.49		0.56			377,993.27		622		80.71			7.557
2012-01-01		10		2,606,270.75		0.29			260,627.07		624		78.54			7.258
Total:		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%

Distribution by Lien Type


Lien Type	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
1		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%
Total:		3,198	$	884,743,112.86		100.00	%	$	276,655.13		605		80.19	%		8.210	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

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 Prinicpal Balance:	$188,584,244.93
	Number of Mortgage Loans:	985
	Average Scheduled Principal Balance:	$191,456.09
	Weighted Average Gross Coupon:	7.768%
	Weighted Average Original Credit Score:	626
	Weighted Average Original LTV Ratio¹:	78.99%
	Weighted Average Combined Original LTV Ratio¹:	80.22%
	Weighted Average Stated Remaining Term (months):	354
	Weighted Average Original Term (months) :	356
	Interest Only Loans:	0.00%
	Silent Seconds:	7.11%

(1)

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Fixed Rate Collateral)

Distribution by Product Type


Product Type	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
10 Fixed		4	$	176,663.70		0.09	%	$	44,165.92		650		100.00	%		10.787	%
15 Fixed		34		2,862,622.86		1.52			84,194.79		593		78.78			8.372
20 Fixed		6		1,000,336.71		0.53			166,722.79		631		75.83			7.806
30 Fixed		673		105,842,117.15		56.12			157,269.12		622		78.44			8.077
40/30 Fixed		107		29,866,830.54		15.84			279,129.26		632		80.59			7.255
50/30 Fixed		161		48,835,673.98		25.90			303,327.17		633		79.18			7.365
Total:		985	$	188,584,244.93		100.00	%	$	191,456.09		626		78.99	%		7.768	%

Distribution by Current Gross Mortgage Rate


Current Gross Mortgage Rate (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
5.501—6.000		7	$	2,118,133.12		1.12	%	$	302,590.45		664		69.32	%		5.990	%
6.001—6.500		114		36,120,691.35		19.15			316,848.17		656		75.65			6.372
6.501—7.000		174		49,987,742.43		26.51			287,285.88		636		77.56			6.820
7.001—7.500		98		22,587,898.47		11.98			230,488.76		633		78.44			7.324
7.501—8.000		93		21,911,991.48		11.62			235,612.81		604		78.12			7.815
8.001—8.500		55		10,281,081.23		5.45			186,928.75		613		79.19			8.349
8.501—9.000		67		11,111,356.72		5.89			165,841.15		596		78.19			8.800
9.001—9.500		32		5,572,337.04		2.95			174,135.53		580		77.37			9.275
9.501—10.000		87		7,942,353.86		4.21			91,291.42		583		82.26			9.840
10.001—10.500		55		5,977,881.72		3.17			108,688.76		592		82.61			10.264
10.501—11.000		63		5,882,208.23		3.12			93,368.38		601		86.43			10.819
11.001—11.500		88		5,553,853.96		2.95			63,111.98		639		98.54			11.403
11.501—12.000		28		2,054,410.55		1.09			73,371.81		609		93.55			11.726
12.001—12.500		14		996,564.59		0.53			71,183.19		613		99.81			12.352
12.501—13.000		9		359,821.37		0.19			39,980.15		625		95.24			12.774
13.001—13.500		1		125,918.81		0.07			125,918.81		609		100.00			13.325
Total:		985	$	188,584,244.93		100.00	%	$	191,456.09		626		78.99	%		7.768	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Fixed Rate Collateral)

Distribution by Original Principal Balance


Original Mortgage Loan Balance ($)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
0.01—50,000.00		129	$	4,245,894.97		2.25	%	$	32,913.91		641		98.13	%		10.990	%
50,000.01—100,000.00		200		15,519,362.44		8.23			77,596.81		623		86.78			9.770
100,000.01—150,000.00		161		19,886,563.65		10.55			123,519.03		613		78.39			8.617
150,000.01—200,000.00		148		25,739,466.70		13.65			173,915.32		621		75.55			7.755
200,000.01—250,000.00		90		19,825,916.87		10.51			220,287.97		615		76.82			7.629
250,000.01—300,000.00		68		18,877,458.80		10.01			277,609.69		627		74.73			7.478
300,000.01—350,000.00		47		15,318,877.81		8.12			325,933.57		636		77.21			7.110
350,000.01—400,000.00		49		18,277,571.91		9.69			373,011.67		629		79.18			7.256
400,000.01—450,000.00		24		10,140,440.92		5.38			422,518.37		627		79.95			7.120
450,000.01—500,000.00		21		10,000,924.39		5.30			476,234.49		634		76.69			7.091
500,000.01—550,000.00		17		8,859,672.48		4.70			521,157.20		632		80.90			6.983
550,000.01—600,000.00		9		5,162,478.38		2.74			573,608.71		623		80.83			7.439
600,000.01—650,000.00		4		2,480,697.73		1.32			620,174.43		625		83.74			7.519
650,000.01—700,000.00		6		4,107,822.08		2.18			684,637.01		631		79.25			7.482
700,000.01—750,000.00		5		3,630,090.08		1.92			726,018.02		647		84.44			6.838
750,000.01—800,000.00		2		1,581,615.51		0.84			790,807.75		618		80.00			6.677
800,000.01—850,000.00		1		849,348.62		0.45			849,348.62		639		73.91			6.990
900,000.01—950,000.00		1		916,043.68		0.49			916,043.68		586		77.47			7.750
950,000.01—1,000,000.00		1		957,554.63		0.51			957,554.63		648		80.00			6.850
1,000,000.01 >=		2		2,206,443.30		1.17			1,103,221.65		680		80.00			6.324
Total:		985	$	188,584,244.93		100.00	%	$	191,456.09		626		78.99	%		7.768	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Fixed Rate Collateral)

Distribution by Current Unpaid Principal Balance


Current Unpaid Principal Balance ($)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
0.01—50,000.00		130	$	4,295,856.49		2.28	%	$	33,045.05		640		97.85	%		10.985	%
50,000.01—100,000.00		199		15,469,400.93		8.20			77,735.68		623		86.82			9.767
100,000.01—150,000.00		163		20,186,481.21		10.70			123,843.44		613		78.21			8.600
150,000.01—200,000.00		146		25,439,549.14		13.49			174,243.49		622		75.66			7.758
200,000.01—250,000.00		90		19,825,916.87		10.51			220,287.97		615		76.82			7.629
250,000.01—300,000.00		68		18,877,458.80		10.01			277,609.69		627		74.73			7.478
300,000.01—350,000.00		47		15,318,877.81		8.12			325,933.57		636		77.21			7.110
350,000.01—400,000.00		49		18,277,571.91		9.69			373,011.67		629		79.18			7.256
400,000.01—450,000.00		24		10,140,440.92		5.38			422,518.37		627		79.95			7.120
450,000.01—500,000.00		21		10,000,924.39		5.30			476,234.49		634		76.69			7.091
500,000.01—550,000.00		17		8,859,672.48		4.70			521,157.20		632		80.90			6.983
550,000.01—600,000.00		9		5,162,478.38		2.74			573,608.71		623		80.83			7.439
600,000.01—650,000.00		4		2,480,697.73		1.32			620,174.43		625		83.74			7.519
650,000.01—700,000.00		6		4,107,822.08		2.18			684,637.01		631		79.25			7.482
700,000.01—750,000.00		5		3,630,090.08		1.92			726,018.02		647		84.44			6.838
750,000.01—800,000.00		2		1,581,615.51		0.84			790,807.75		618		80.00			6.677
800,000.01—850,000.00		1		849,348.62		0.45			849,348.62		639		73.91			6.990
900,000.01—950,000.00		1		916,043.68		0.49			916,043.68		586		77.47			7.750
950,000.01—1,000,000.00		1		957,554.63		0.51			957,554.63		648		80.00			6.850
1,000,000.01 >=		2		2,206,443.30		1.17			1,103,221.65		680		80.00			6.324
Total:		985	$	188,584,244.93		100.00	%	$	191,456.09		626		78.99	%		7.768	%

Distribution by Remaining Term to Maturity


Remaining Term (months)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
61—120		4	$	176,663.70		0.09	%	$	44,165.92		650		100.00	%		10.787	%
121—180		34		2,862,622.86		1.52			84,194.79		593		78.78			8.372
181—240		6		1,000,336.71		0.53			166,722.79		631		75.83			7.806
301—360		941		184,544,621.66		97.86			196,115.43		626		78.99			7.755
Total:		985	$	188,584,244.93		100.00	%	$	191,456.09		626		78.99	%		7.768	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Fixed Rate Collateral)

Distribution by Original Term to Maturity


Original Term (months)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
61—120		4	$	176,663.70		0.09	%	$	44,165.92		650		100.00	%		10.787	%
121—180		34		2,862,622.86		1.52			84,194.79		593		78.78			8.372
181—240		6		1,000,336.71		0.53			166,722.79		631		75.83			7.806
301—360		941		184,544,621.66		97.86			196,115.43		626		78.99			7.755
Total:		985	$	188,584,244.93		100.00	%	$	191,456.09		626		78.99	%		7.768	%

Distribution by Original Loan-to-Value Ratio


Original Loan-to-Value Ratio (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
15.01—20.00		2	$	185,727.83		0.10	%	$	92,863.92		616		16.30	%		7.609	%
20.01—25.00		3		354,428.18		0.19			118,142.73		615		22.99			7.289
25.01—30.00		2		149,805.10		0.08			74,902.55		565		26.99			8.850
30.01—35.00		2		225,788.29		0.12			112,894.15		558		33.16			9.033
35.01—40.00		6		938,932.79		0.50			156,488.80		597		37.23			8.320
40.01—45.00		13		2,503,244.47		1.33			192,557.27		621		43.29			7.212
45.01—50.00		19		3,998,702.75		2.12			210,458.04		626		47.31			7.166
50.01—55.00		17		2,944,956.79		1.56			173,232.75		601		52.06			8.125
55.01—60.00		24		5,184,331.25		2.75			216,013.80		621		58.87			6.997
60.01—65.00		54		10,518,237.77		5.58			194,782.18		616		63.43			7.684
65.01—70.00		43		10,921,849.61		5.79			253,996.50		617		68.80			7.473
70.01—75.00		87		21,302,641.51		11.30			244,857.95		615		73.79			7.557
75.01—80.00		214		57,304,177.41		30.39			267,776.53		625		79.47			7.362
80.01—85.00		97		21,376,641.40		11.34			220,377.75		625		84.35			7.537
85.01—90.00		119		28,114,832.94		14.91			236,259.10		634		89.50			7.536
90.01—95.00		37		6,458,873.51		3.42			174,564.15		648		94.34			7.783
95.01—100.00		246		16,101,073.33		8.54			65,451.52		644		99.92			10.823
Total:		985	$	188,584,244.93		100.00	%	$	191,456.09		626		78.99	%		7.768	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Fixed Rate Collateral)

Distribution by Combined Original Loan-to-Value Ratio


Combined Original Loan-to-Value Ratio (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
15.01—20.00		2	$	185,727.83		0.10	%	$	92,863.92		616		16.30	%		7.609	%
20.01—25.00		3		354,428.18		0.19			118,142.73		615		22.99			7.289
25.01—30.00		2		149,805.10		0.08			74,902.55		565		26.99			8.850
30.01—35.00		1		139,869.94		0.07			139,869.94		526		32.94			9.790
35.01—40.00		6		938,932.79		0.50			156,488.80		597		37.23			8.320
40.01—45.00		13		2,503,244.47		1.33			192,557.27		621		43.29			7.212
45.01—50.00		19		3,998,702.75		2.12			210,458.04		626		47.31			7.166
50.01—55.00		17		2,944,956.79		1.56			173,232.75		601		52.06			8.125
55.01—60.00		24		5,184,331.25		2.75			216,013.80		621		58.87			6.997
60.01—65.00		54		10,518,237.77		5.58			194,782.18		616		63.43			7.684
65.01—70.00		40		9,757,521.35		5.17			243,938.03		616		68.73			7.454
70.01—75.00		83		19,919,041.78		10.56			239,988.46		614		73.71			7.506
75.01—80.00		182		49,282,876.88		26.13			270,785.04		622		79.30			7.368
80.01—85.00		95		21,522,611.69		11.41			226,553.81		629		84.05			7.403
85.01—90.00		110		27,298,163.92		14.48			248,165.13		635		89.11			7.467
90.01—95.00		40		7,278,755.19		3.86			181,968.88		650		93.29			7.711
95.01—100.00		294		26,607,037.25		14.11			90,500.13		638		92.07			9.698
Total:		985	$	188,584,244.93		100.00	%	$	191,456.09		626		78.99	%		7.768	%

Distribution by State


State	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
CA		129	$	36,365,579.28		19.28	%	$	281,903.72		635		76.69	%		7.319	%
NY		99		32,631,294.16		17.30			329,609.03		632		76.84			7.438
FL		135		21,954,352.73		11.64			162,624.84		620		76.70			7.829
TX		110		16,255,203.49		8.62			147,774.58		615		79.19			7.893
MD		65		12,059,364.11		6.39			185,528.68		606		76.76			8.115
NJ		38		9,800,018.35		5.20			257,895.22		631		80.06			7.789
MA		45		7,998,152.29		4.24			177,736.72		630		83.83			8.282
VA		30		6,051,561.51		3.21			201,718.72		623		82.85			8.170
IL		45		5,802,857.36		3.08			128,952.39		632		81.31			8.181
CT		18		3,680,477.52		1.95			204,470.97		634		83.89			7.129
HI		10		3,543,030.02		1.88			354,303.00		633		77.53			7.514
PA		32		3,390,816.52		1.80			105,963.02		611		81.83			8.394
WA		14		3,240,191.95		1.72			231,442.28		643		81.98			7.005
GA		27		2,901,085.99		1.54			107,447.63		625		86.86			8.352
AZ		14		2,403,488.67		1.27			171,677.76		612		79.98			7.691
Other		174		20,506,771.00		10.87			117,855.01		621		83.06			8.376
Total:		985	$	188,584,244.93		100.00	%	$	191,456.09		626		78.99	%		7.768	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Fixed Rate Collateral)

Distribution by Occupancy Type


Occupancy	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
Investment Property		37	$	5,270,786.55		2.79	%	$	142,453.69		640		78.89	%		8.459	%
Owner Occupied		946		182,538,486.25		96.79			192,958.23		625		78.98			7.745
Second Home		2		774,972.14		0.41			387,486.07		657		81.04			8.493
Total:		985	$	188,584,244.93		100.00	%	$	191,456.09		626		78.99	%		7.768	%

Distribution by Property Type


Property Type	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
Single Family		805	$	149,595,077.47		79.33	%	$	185,832.39		625		78.99	%		7.713	%
Multi Family		136		33,331,501.82		17.67			245,084.57		633		78.32			7.841
Condo		44		5,657,665.65		3.00			128,583.31		614		82.74			8.803
Total:		985	$	188,584,244.93		100.00	%	$	191,456.09		626		78.99	%		7.768	%

Distribution by Loan Purpose


Loan Purpose	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
Cash Out		659	$	143,975,946.87		76.35	%	$	218,476.40		623		77.06	%		7.531	%
Purchase		293		34,810,972.56		18.46			118,808.78		637		86.70			8.881
Refinance		33		9,797,325.51		5.20			296,888.65		624		79.85			7.297
Total:		985	$	188,584,244.93		100.00	%	$	191,456.09		626		78.99	%		7.768	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Fixed Rate Collateral)

Distribution by Documentation Type


Documentation Type	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
Full Documentation		727	$	144,156,421.99		76.44	%	$	198,289.44		624		79.34	%		7.506	%
Limited Documentation		12		2,425,578.44		1.29			202,131.54		624		76.51			7.750
Stated Documentation		246		42,002,244.50		22.27			170,740.83		631		77.92			8.669
Total:		985	$	188,584,244.93		100.00	%	$	191,456.09		626		78.99	%		7.768	%

Distribution by Credit Score


Credit Score Range	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
501—525		21	$	4,044,285.14		2.14	%	$	192,585.01		516		70.30	%		10.259	%
526—550		37		6,779,580.42		3.59			183,231.90		537		74.44			9.205
551—575		78		13,669,275.44		7.25			175,247.12		561		72.53			8.798
576—600		90		18,170,574.02		9.64			201,895.27		589		76.58			8.211
601—625		201		38,939,028.38		20.65			193,726.51		612		78.44			7.573
626—650		300		53,032,213.18		28.12			176,774.04		639		81.82			7.760
651—675		173		34,572,372.30		18.33			199,840.30		662		80.92			7.277
676—700		85		19,376,916.06		10.27			227,963.72		688		79.09			6.893
Total:		985	$	188,584,244.93		100.00	%	$	191,456.09		626		78.99	%		7.768	%

Distribution by Original Prepayment Penalty Term


Prepayment Penalty Terms (months)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
0		333	$	50,858,497.69		26.97	%	$	152,728.22		619		80.63	%		8.238	%
12		122		36,598,860.36		19.41			299,990.66		632		77.02			7.496
24		101		12,663,723.68		6.72			125,383.40		623		85.29			9.099
30		2		504,588.94		0.27			252,294.47		619		87.63			8.248
36		427		87,958,574.27		46.64			205,991.98		628		77.89			7.415
Total:		985	$	188,584,244.93		100.00	%	$	191,456.09		626		78.99	%		7.768	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Fixed Rate Collateral)

Distribution by Lien Type


Lien Type	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
1		735	$	173,578,874.26		92.04	%	$	236,161.73		624		77.19	%		7.477	%
2		250		15,005,370.68		7.96			60,021.48		643		99.74			11.131
Total:		985	$	188,584,244.93		100.00	%	$	191,456.09		626		78.99	%		7.768	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Balloon Collateral)


Collateral Summary

Statistics for the Mortgage Loans listed below are based on the Cut-off Date scheduled balances.

	Scheduled Principal Balance:	$627,685,003.21
	Number of Mortgage Loans:	2,024
	Average Scheduled Principal Balance:	$310,121.05
	Weighted Average Gross Coupon:	7.996%
	Weighted Average Original Credit Score:	612
	Weighted Average Original LTV Ratio²:	80.93%
	Weighted Average Combined Original LTV Ratio²:	83.18%
	Weighted Average Stated Remaining Term (months):	357
	Weighted Average Original Term (months):	360
	Weighted Average Original Roll Term¹ (months):	28
	Weighted Average Gross Margin¹:	5.599%
	Weighted Average Initial Rate Cap¹:	1.500%
	Weighted Average Periodic Rate Cap¹:	1.500%
	Interest Only Loans:	0.00%
	Silent Seconds:	13.66%

(1)	Includes adjustable-rate Mortgage Loans only.

(2)

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Balloon Collateral)

Distribution by Product Type


Product Type	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
40/30 2YR-ARM		174	$	48,399,212.79		7.71	%	$	278,156.40		599		78.29	%		8.305	%
40/30 3YR-ARM		139		44,495,787.28		7.09			320,113.58		614		83.11			7.846
40/30 Fixed		107		29,866,830.54		4.76			279,129.26		632		80.59			7.255
50/30 2YR-ARM		1,043		325,446,598.20		51.85			312,029.34		609		80.90			8.147
50/30 3YR-ARM		394		128,656,028.98		20.50			326,538.14		612		81.99			7.952
50/30 5YR-ARM		6		1,984,871.45		0.32			330,811.91		598		79.33			8.539
50/30 Fixed		161		48,835,673.98		7.78			303,327.17		633		79.18			7.365
Total:		2,024	$	627,685,003.21		100.00	%	$	310,121.05		612		80.93	%		7.996	%

Distribution by Current Gross Mortgage Rate


Current Gross Mortgage Rate (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
5.001—5.500		1	$	419,720.45		0.07	%	$	419,720.45		667		80.00	%		5.350	%
5.501—6.000		28		10,753,556.01		1.71			384,055.57		651		76.71			5.840
6.001—6.500		115		44,144,678.54		7.03			383,866.77		647		79.30			6.359
6.501—7.000		248		91,226,959.68		14.53			367,850.64		635		79.62			6.855
7.001—7.500		247		85,423,929.29		13.61			345,845.87		625		80.86			7.334
7.501—8.000		353		114,549,772.20		18.25			324,503.60		616		80.50			7.797
8.001—8.500		278		85,429,380.74		13.61			307,299.93		603		82.39			8.319
8.501—9.000		340		94,733,990.76		15.09			278,629.38		598		83.52			8.811
9.001—9.500		173		47,106,618.18		7.50			272,292.59		588		82.20			9.293
9.501—10.000		146		34,417,855.90		5.48			235,738.74		573		81.20			9.764
10.001—10.500		50		10,673,568.74		1.70			213,471.37		566		76.27			10.286
10.501—11.000		22		4,706,814.32		0.75			213,946.11		545		73.60			10.729
11.001—11.500		10		1,501,102.07		0.24			150,110.21		546		69.81			11.283
11.501—12.000		7		1,294,027.31		0.21			184,861.04		581		61.18			11.797
12.001—12.500		4		545,877.15		0.09			136,469.29		518		63.42			12.331
12.501—13.000		2		757,151.88		0.12			378,575.94		568		65.00			12.739
Total:		2,024	$	627,685,003.21		100.00	%	$	310,121.05		612		80.93	%		7.996	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Balloon Collateral)

Distribution by Original Principal Balance


Original Mortgage Loan Balance ($)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
0.01—50,000.00		1	$	49,983.20		0.01	%	$	49,983.20		517		74.63	%		11.150	%
50,000.01—100,000.00		92		7,554,589.08		1.20			82,115.10		598		77.78			9.011
100,000.01—150,000.00		234		29,865,539.55		4.76			127,630.51		608		79.14			8.643
150,000.01—200,000.00		293		51,310,572.91		8.17			175,121.41		606		78.54			8.397
200,000.01—250,000.00		301		68,142,081.01		10.86			226,385.65		601		80.41			8.184
250,000.01—300,000.00		222		61,185,695.19		9.75			275,611.24		611		79.47			8.111
300,000.01—350,000.00		201		65,701,519.69		10.47			326,873.23		611		80.71			7.947
350,000.01—400,000.00		176		65,977,853.24		10.51			374,874.17		610		82.36			7.913
400,000.01—450,000.00		124		52,612,618.65		8.38			424,295.31		615		81.34			7.917
450,000.01—500,000.00		92		43,966,984.68		7.00			477,902.01		610		81.93			7.811
500,000.01—550,000.00		88		46,225,201.09		7.36			525,286.38		618		82.94			7.794
550,000.01—600,000.00		72		41,429,225.58		6.60			575,405.91		613		82.82			7.888
600,000.01—650,000.00		37		23,172,440.74		3.69			626,282.18		620		81.82			7.693
650,000.01—700,000.00		32		21,619,611.46		3.44			675,612.86		624		83.61			7.827
700,000.01—750,000.00		21		15,293,396.97		2.44			728,257.00		627		82.79			7.588
750,000.01—800,000.00		24		19,066,940.09		3.04			794,455.84		610		79.46			8.087
800,000.01—850,000.00		2		1,686,105.61		0.27			843,052.80		639		79.41			6.350
850,000.01—900,000.00		2		1,756,829.44		0.28			878,414.72		605		80.00			7.175
950,000.01—1,000,000.00		3		2,957,667.99		0.47			985,889.33		645		75.91			6.816
1,000,000.01 >=		7		8,110,147.03		1.29			1,158,592.43		656		74.35			6.752
Total:		2,024	$	627,685,003.21		100.00	%	$	310,121.05		612		80.93	%		7.996	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Balloon Collateral)

Distribution by Current Unpaid Principal Balance


Current Unpaid Principal Balance ($)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
0.01—50,000.00		1	$	49,983.20		0.01	%	$	49,983.20		517		74.63	%		11.150	%
50,000.01—100,000.00		92		7,554,589.08		1.20			82,115.10		598		77.78			9.011
100,000.01—150,000.00		235		30,015,493.84		4.78			127,725.51		608		78.96			8.637
150,000.01—200,000.00		292		51,160,618.62		8.15			175,207.60		606		78.65			8.400
200,000.01—250,000.00		301		68,142,081.01		10.86			226,385.65		601		80.41			8.184
250,000.01—300,000.00		222		61,185,695.19		9.75			275,611.24		611		79.47			8.111
300,000.01—350,000.00		201		65,701,519.69		10.47			326,873.23		611		80.71			7.947
350,000.01—400,000.00		176		65,977,853.24		10.51			374,874.17		610		82.36			7.913
400,000.01—450,000.00		124		52,612,618.65		8.38			424,295.31		615		81.34			7.917
450,000.01—500,000.00		92		43,966,984.68		7.00			477,902.01		610		81.93			7.811
500,000.01—550,000.00		88		46,225,201.09		7.36			525,286.38		618		82.94			7.794
550,000.01—600,000.00		72		41,429,225.58		6.60			575,405.91		613		82.82			7.888
600,000.01—650,000.00		37		23,172,440.74		3.69			626,282.18		620		81.82			7.693
650,000.01—700,000.00		32		21,619,611.46		3.44			675,612.86		624		83.61			7.827
700,000.01—750,000.00		21		15,293,396.97		2.44			728,257.00		627		82.79			7.588
750,000.01—800,000.00		24		19,066,940.09		3.04			794,455.84		610		79.46			8.087
800,000.01—850,000.00		2		1,686,105.61		0.27			843,052.80		639		79.41			6.350
850,000.01—900,000.00		2		1,756,829.44		0.28			878,414.72		605		80.00			7.175
950,000.01—1,000,000.00		3		2,957,667.99		0.47			985,889.33		645		75.91			6.816
1,000,000.01 >=		7		8,110,147.03		1.29			1,158,592.43		656		74.35			6.752
Total:		2,024	$	627,685,003.21		100.00	%	$	310,121.05		612		80.93	%		7.996	%

Distribution by Remaining Term to Maturity


Remaining Term (months)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
301—360		2,024	$	627,685,003.21		100.00	%	$	310,121.05		612		80.93	%		7.996	%
Total:		2,024	$	627,685,003.21		100.00	%	$	310,121.05		612		80.93	%		7.996	%

Distribution by Original Term to Maturity


Original Term (months)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
301—360		2,024	$	627,685,003.21		100.00	%	$	310,121.05		612		80.93	%		7.996	%
Total:		2,024	$	627,685,003.21		100.00	%	$	310,121.05		612		80.93	%		7.996	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Balloon Collateral)

Distribution by Original Loan-to-Value Ratio


Original Loan-to-Value Ratio (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
15.01—20.00		1	$	62,974.57		0.01	%	$	62,974.57		613		16.32	%		6.750	%
20.01—25.00		1		50,993.47		0.01			50,993.47		571		25.00			9.750
25.01—30.00		3		360,830.73		0.06			120,276.91		565		28.81			8.383
30.01—35.00		4		559,834.70		0.09			139,958.67		581		31.65			8.577
35.01—40.00		6		1,768,015.60		0.28			294,669.27		597		37.34			7.166
40.01—45.00		13		3,057,701.64		0.49			235,207.82		589		43.23			8.456
45.01—50.00		25		4,455,424.74		0.71			178,216.99		603		47.60			7.845
50.01—55.00		33		8,015,454.44		1.28			242,892.56		599		52.43			7.976
55.01—60.00		39		9,179,731.51		1.46			235,377.73		596		57.82			7.987
60.01—65.00		87		26,368,179.75		4.20			303,082.53		604		63.22			8.046
65.01—70.00		110		32,311,303.03		5.15			293,739.12		599		68.74			8.021
70.01—75.00		169		55,803,544.14		8.89			330,198.49		604		73.80			7.924
75.01—80.00		597		192,159,805.29		30.61			321,875.72		613		79.60			7.974
80.01—85.00		272		86,931,734.36		13.85			319,601.96		610		84.52			7.833
85.01—90.00		537		171,878,350.92		27.38			320,071.42		618		89.73			8.102
90.01—95.00		89		25,646,033.00		4.09			288,157.67		622		94.63			7.961
95.01—100.00		38		9,075,091.32		1.45			238,818.19		631		99.97			8.365
Total:		2,024	$	627,685,003.21		100.00	%	$	310,121.05		612		80.93	%		7.996	%

Distribution by Combined Original Loan-to-Value Ratio


Combined Original Loan-to-Value Ratio (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
15.01—20.00		1	$	62,974.57		0.01	%	$	62,974.57		613		16.32	%		6.750	%
20.01—25.00		1		50,993.47		0.01			50,993.47		571		25.00			9.750
25.01—30.00		3		360,830.73		0.06			120,276.91		565		28.81			8.383
30.01—35.00		4		559,834.70		0.09			139,958.67		581		31.65			8.577
35.01—40.00		6		1,768,015.60		0.28			294,669.27		597		37.34			7.166
40.01—45.00		13		3,057,701.64		0.49			235,207.82		589		43.23			8.456
45.01—50.00		24		4,341,869.36		0.69			180,911.22		605		47.58			7.815
50.01—55.00		33		8,015,454.44		1.28			242,892.56		599		52.43			7.976
55.01—60.00		38		8,515,101.20		1.36			224,081.61		599		57.92			8.065
60.01—65.00		86		26,248,217.83		4.18			305,211.84		604		63.22			8.049
65.01—70.00		101		29,837,940.06		4.75			295,425.15		598		68.76			8.005
70.01—75.00		162		53,949,356.03		8.59			333,020.72		603		73.77			7.920
75.01—80.00		413		139,237,774.48		22.18			337,137.47		605		79.43			8.005
80.01—85.00		259		84,767,671.66		13.50			327,288.31		610		84.13			7.785
85.01—90.00		463		152,402,878.18		24.28			329,163.88		619		89.64			8.019
90.01—95.00		103		31,283,930.03		4.98			303,727.48		626		92.12			7.953
95.01—100.00		314		83,224,459.26		13.26			265,046.05		627		84.39			8.196
Total:		2,024	$	627,685,003.21		100.00	%	$	310,121.05		612		80.93	%		7.996	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Balloon Collateral)

Distribution by State


State	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
CA		475	$	187,356,879.33		29.85	%	$	394,435.54		618		79.61	%		7.681	%
NY		217		96,764,198.37		15.42			445,917.96		615		80.41			7.784
FL		282		69,569,035.67		11.08			246,698.71		607		80.47			8.262
MD		194		54,882,484.36		8.74			282,899.40		603		82.20			8.041
NJ		92		31,883,176.10		5.08			346,556.26		616		81.77			8.222
MA		86		27,314,477.82		4.35			317,610.21		620		81.73			8.098
VA		76		21,604,159.81		3.44			284,265.26		595		80.69			8.349
IL		88		21,312,277.16		3.40			242,184.97		613		80.67			8.598
AZ		58		14,574,643.49		2.32			251,286.96		610		82.11			8.283
HI		27		11,425,791.14		1.82			423,177.45		620		81.92			7.951
GA		52		11,204,496.73		1.79			215,471.09		620		84.89			8.068
WA		41		10,819,383.30		1.72			263,887.40		596		83.36			7.935
CO		27		6,328,689.19		1.01			234,395.90		616		82.96			8.099
NC		26		6,141,060.42		0.98			236,194.63		601		83.18			8.390
CT		24		5,592,568.75		0.89			233,023.70		613		82.55			8.087
Other		259		50,911,681.56		8.11			196,570.20		602		82.62			8.401
Total:		2,024	$	627,685,003.21		100.00	%	$	310,121.05		612		80.93	%		7.996	%

Distribution by Occupancy Type


Occupancy	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
Investment Property		119	$	30,066,004.93		4.79	%	$	252,655.50		626		78.17	%		8.492	%
Owner Occupied		1,886		591,956,771.51		94.31			313,868.91		611		81.06			7.969
Second Home		19		5,662,226.77		0.90			298,011.94		622		81.98			8.157
Total:		2,024	$	627,685,003.21		100.00	%	$	310,121.05		612		80.93	%		7.996	%

Distribution by Property Type


Property Type	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
Single Family		1,640	$	492,902,648.87		78.53	%	$	300,550.40		610		80.95	%		7.999	%
Multi Family		285		110,103,913.80		17.54			386,329.52		619		80.54			7.920
Condo		99		24,678,440.54		3.93			249,277.18		619		82.14			8.264
Total:		2,024	$	627,685,003.21		100.00	%	$	310,121.05		612		80.93	%		7.996	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Balloon Collateral)

Distribution by Loan Purpose


Loan Purpose	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
Cash Out		1,455	$	458,804,470.12		73.09	%	$	315,329.53		609		79.68	%		7.925	%
Purchase		514		151,145,264.76		24.08			294,056.94		622		84.69			8.233
Refinance		55		17,735,268.34		2.83			322,459.42		614		81.19			7.818
Total:		2,024	$	627,685,003.21		100.00	%	$	310,121.05		612		80.93	%		7.996	%

Distribution by Documentation Type


Documentation Type	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
Full Documentation		1,202	$	358,648,096.15		57.14	%	$	298,376.12		608		81.91	%		7.712	%
Limited Documentation		25		7,921,460.52		1.26			316,858.42		621		83.32			7.711
Stated Documentation		797		261,115,446.54		41.60			327,622.89		618		79.50			8.394
Total:		2,024	$	627,685,003.21		100.00	%	$	310,121.05		612		80.93	%		7.996	%

Distribution by Credit Score


Credit Score Range	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
476—500		2	$	267,067.89		0.04	%	$	133,533.94		500		66.73	%		9.348	%
501—525		59		16,979,005.59		2.71			287,779.76		513		73.80			9.682
526—550		80		22,082,766.69		3.52			276,034.58		540		76.48			9.036
551—575		330		93,408,256.17		14.88			283,055.32		562		79.18			8.618
576—600		345		100,035,606.04		15.94			289,958.28		589		80.61			8.356
601—625		470		148,053,285.20		23.59			315,006.99		612		81.67			7.889
626—650		394		128,682,611.93		20.50			326,605.61		638		81.93			7.684
651—675		212		74,262,826.40		11.83			350,296.35		662		82.74			7.278
676—700		132		43,913,577.30		7.00			332,678.62		685		81.98			7.153
Total:		2,024	$	627,685,003.21		100.00	%	$	310,121.05		612		80.93	%		7.996	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Balloon Collateral)

Distribution by Original Prepayment Penalty Term


Prepayment Penalty Terms (months)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
0		571	$	165,802,932.19		26.41	%	$	290,372.91		612		81.90	%		8.262	%
12		330		129,941,914.94		20.70			393,763.38		616		81.04			7.880
24		818		243,579,988.68		38.81			297,775.05		605		80.38			8.078
30		6		1,390,325.18		0.22			231,720.86		598		89.28			8.560
36		299		86,969,842.23		13.86			290,869.04		624		80.30			7.422
Total:		2,024	$	627,685,003.21		100.00	%	$	310,121.05		612		80.93	%		7.996	%

Distribution by Initial Interest Rate Cap


Initial Cap (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
Fixed Loans		268	$	78,702,504.52		12.54	%	$	293,666.06		633		79.72	%		7.323	%
1.500		1,756		548,982,498.69		87.46			312,632.40		609		81.10			8.092
Total:		2,024	$	627,685,003.21		100.00	%	$	310,121.05		612		80.93	%		7.996	%

Distribution by Periodic Interest Rate Cap


Periodic Cap (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
Fixed Loans		268	$	78,702,504.52		12.54	%	$	293,666.06		633		79.72	%		7.323	%
1.500		1,756		548,982,498.69		87.46			312,632.40		609		81.10			8.092
Total:		2,024	$	627,685,003.21		100.00	%	$	310,121.05		612		80.93	%		7.996	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Balloon Collateral)

Distribution by Gross Margin


ARM Margin (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
Fixed Loans		268	$	78,702,504.52		12.54	%	$	293,666.06		633		79.72	%		7.323	%
2.001—3.000		1		419,720.45		0.07			419,720.45		667		80.00			5.350
3.001—4.000		72		28,014,730.78		4.46			389,093.48		650		77.97			6.105
4.001—5.000		325		125,150,103.81		19.94			385,077.24		630		80.27			6.998
5.001—6.000		611		192,506,436.96		30.67			315,067.82		611		80.86			7.958
6.001—7.000		747		202,891,506.69		32.32			271,608.44		589		82.28			9.175
Total:		2,024	$	627,685,003.21		100.00	%	$	310,121.05		612		80.93	%		7.996	%

Distribution by Maximum Mortgage Rate


Maximum Mortgage Rate (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
Fixed Loans		268	$	78,702,504.52		12.54	%	$	293,666.06		633		79.72	%		7.323	%
11.001—12.000		28		10,843,609.60		1.73			387,271.77		650		76.84			5.816
12.001—13.000		243		94,469,447.33		15.05			388,763.16		636		79.55			6.707
13.001—14.000		511		175,789,074.17		28.01			344,009.93		619		80.61			7.607
14.001—15.000		583		171,261,652.29		27.28			293,759.27		600		83.08			8.578
15.001—16.000		303		78,706,840.82		12.54			259,758.55		582		82.10			9.489
16.001—17.000		65		13,813,716.07		2.20			212,518.71		559		75.77			10.431
17.001—18.000		17		2,795,129.39		0.45			164,419.38		562		65.81			11.521
18.001—19.000		6		1,303,029.03		0.21			217,171.50		547		64.34			12.568
Total:		2,024	$	627,685,003.21		100.00	%	$	310,121.05		612		80.93	%		7.996	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Balloon Collateral)

Distribution by Minimum Mortgage Rate


Minimum Mortgage Rate (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
Fixed Loans		268	$	78,702,504.52		12.54	%	$	293,666.06		633		79.72	%		7.323	%
5.001—6.000		28		10,843,609.60		1.73			387,271.77		650		76.84			5.816
6.001—7.000		243		94,469,447.33		15.05			388,763.16		636		79.55			6.707
7.001—8.000		511		175,789,074.17		28.01			344,009.93		619		80.61			7.607
8.001—9.000		583		171,261,652.29		27.28			293,759.27		600		83.08			8.578
9.001—10.000		303		78,706,840.82		12.54			259,758.55		582		82.10			9.489
10.001—11.000		65		13,813,716.07		2.20			212,518.71		559		75.77			10.431
11.001—12.000		17		2,795,129.39		0.45			164,419.38		562		65.81			11.521
12.001 >=		6		1,303,029.03		0.21			217,171.50		547		64.34			12.568
Total:		2,024	$	627,685,003.21		100.00	%	$	310,121.05		612		80.93	%		7.996	%

Distribution by Initial Rate Adjustment Date


Initial Interest Rate Adjustment Date	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
Fixed Loans		268	$	78,702,504.52		12.54	%	$	293,666.06		633		79.72	%		7.323	%
2008-04-01		1		172,252.85		0.03			172,252.85		603		80.00			8.100
2008-06-01		1		126,727.02		0.02			126,727.02		634		80.00			9.260
2008-07-01		2		332,753.75		0.05			166,376.87		670		80.00			7.749
2008-08-01		1		94,147.34		0.01			94,147.34		661		80.00			7.050
2008-09-01		11		3,795,535.98		0.60			345,048.73		602		80.54			8.586
2008-10-01		26		8,765,615.07		1.40			337,139.04		609		80.78			8.010
2008-11-01		90		31,938,709.16		5.09			354,874.55		597		80.89			8.137
2008-12-01		619		192,028,020.64		30.59			310,222.97		609		80.88			8.267
2009-01-01		466		136,592,049.17		21.76			293,115.99		608		80.04			8.034
2009-10-01		5		1,904,072.92		0.30			380,814.58		619		83.86			8.236
2009-11-01		32		15,352,549.80		2.45			479,767.18		621		83.00			7.793
2009-12-01		298		93,963,912.81		14.97			315,315.14		612		82.25			7.995
2010-01-01		198		61,931,280.74		9.87			312,784.25		612		82.09			7.843
2011-12-01		3		1,085,085.22		0.17			361,695.07		601		84.01			8.803
2012-01-01		3		899,786.22		0.14			299,928.74		594		73.69			8.219
Total:		2,024	$	627,685,003.21		100.00	%	$	310,121.05		612		80.93	%		7.996	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Balloon Collateral)

Distribution by Lien Type


Lien Type	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
1		2,024	$	627,685,003.21		100.00	%	$	310,121.05		612		80.93	%		7.996	%
Total:		2,024	$	627,685,003.21		100.00	%	$	310,121.05		612		80.93	%		7.996	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

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:	$65,731,524.00
	Number of Mortgage Loans:	170
	Average Scheduled Principal Balance:	$386,656.02
	Weighted Average Gross Coupon:	6.616%
	Weighted Average Original Credit Score:	648
	Weighted Average Original LTV Ratio²:	80.74%
	Weighted Average Combined Original LTV Ratio²:	84.32%
	Weighted Average Stated Remaining Term (months):	357
	Weighted Average Original Term (months):	360
	Weighted Average Original Roll Term¹ (months):	32
	Weighted Average Gross Margin¹:	4.238%
	Weighted Average Initial Rate Cap¹:	1.500%
	Weighted Average Periodic Rate Cap¹:	1.500%
	Interest Only Loans:	100.00%
	Silent Seconds:	19.41%

(1)	Includes adjustable-rate Mortgage Loans only.

(2)

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Interest Only Collateral)

Distribution by Product Type


Product Type	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
2YR-ARM 5YR-IO		67	$	25,046,886.00		38.10	%	$	373,834.12		647		80.15	%		6.834	%
3YR-ARM 3YR-IO		41		16,979,852.00		25.83			414,142.73		646		81.53			6.429
3YR-ARM 5YR-IO		55		21,256,386.00		32.34			386,479.75		648		80.68			6.544
5YR-ARM 5YR-IO		7		2,448,400.00		3.72			349,771.43		666		81.77			6.312
Total:		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%

Distribution by Current Gross Mortgage Rate


Current Gross Mortgage Rate (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
5.001—5.500		7	$	3,448,750.00		5.25	%	$	492,678.57		667		80.06	%		5.437	%
5.501—6.000		25		10,838,400.00		16.49			433,536.00		655		79.70			5.905
6.001—6.500		40		18,158,432.00		27.63			453,960.80		653		78.33			6.317
6.501—7.000		55		20,712,192.00		31.51			376,585.31		642		82.39			6.807
7.001—7.500		26		7,446,800.00		11.33			286,415.38		642		83.76			7.340
7.501—8.000		8		2,267,250.00		3.45			283,406.25		638		81.83			7.721
8.001—8.500		6		1,768,200.00		2.69			294,700.00		636		78.90			8.247
8.501—9.000		3		1,091,500.00		1.66			363,833.33		635		81.94			8.882
Total:		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Interest Only Collateral)

Distribution by Original Principal Balance


Original Mortgage Loan Balance ($)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
50,000.01—100,000.00		1	$	80,500.00		0.12	%	$	80,500.00		664		70.00	%		7.400	%
100,000.01—150,000.00		7		927,800.00		1.41			132,542.86		638		77.04			7.477
150,000.01—200,000.00		19		3,383,030.00		5.15			178,054.21		644		79.50			6.970
200,000.01—250,000.00		19		4,302,600.00		6.55			226,452.63		646		80.23			6.939
250,000.01—300,000.00		20		5,520,290.00		8.40			276,014.50		641		79.92			6.795
300,000.01—350,000.00		16		5,194,700.00		7.90			324,668.75		641		80.71			6.823
350,000.01—400,000.00		21		7,937,822.00		12.08			377,991.52		650		79.47			6.445
400,000.01—450,000.00		11		4,640,196.00		7.06			421,836.00		653		79.70			6.180
450,000.01—500,000.00		14		6,659,986.00		10.13			475,713.29		651		79.86			6.353
500,000.01—550,000.00		12		6,329,550.00		9.63			527,462.50		651		81.93			6.870
550,000.01—600,000.00		9		5,268,950.00		8.02			585,438.89		655		83.34			6.546
600,000.01—650,000.00		7		4,393,400.00		6.68			627,628.57		640		84.14			6.744
650,000.01—700,000.00		5		3,377,600.00		5.14			675,520.00		635		79.65			6.393
700,000.01—750,000.00		3		2,159,550.00		3.29			719,850.00		677		86.13			6.756
750,000.01—800,000.00		2		1,553,750.00		2.36			776,875.00		622		79.53			6.675
850,000.01—900,000.00		1		875,000.00		1.33			875,000.00		656		76.09			6.000
900,000.01—950,000.00		1		920,000.00		1.40			920,000.00		698		80.00			5.500
950,000.01—1,000,000.00		1		1,000,000.00		1.52			1,000,000.00		633		80.00			6.900
1,000,000.01 >=		1		1,206,800.00		1.84			1,206,800.00		655		80.00			6.170
Total:		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Interest Only Collateral)

Distribution by Current Unpaid Principal Balance


Current Unpaid Principal Balance ($)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
50,000.01—100,000.00		1	$	80,500.00		0.12	%	$	80,500.00		664		70.00	%		7.400	%
100,000.01—150,000.00		7		927,800.00		1.41			132,542.86		638		77.04			7.477
150,000.01—200,000.00		19		3,383,030.00		5.15			178,054.21		644		79.50			6.970
200,000.01—250,000.00		19		4,302,600.00		6.55			226,452.63		646		80.23			6.939
250,000.01—300,000.00		20		5,520,290.00		8.40			276,014.50		641		79.92			6.795
300,000.01—350,000.00		16		5,194,700.00		7.90			324,668.75		641		80.71			6.823
350,000.01—400,000.00		21		7,937,822.00		12.08			377,991.52		650		79.47			6.445
400,000.01—450,000.00		11		4,640,196.00		7.06			421,836.00		653		79.70			6.180
450,000.01—500,000.00		14		6,659,986.00		10.13			475,713.29		651		79.86			6.353
500,000.01—550,000.00		12		6,329,550.00		9.63			527,462.50		651		81.93			6.870
550,000.01—600,000.00		9		5,268,950.00		8.02			585,438.89		655		83.34			6.546
600,000.01—650,000.00		7		4,393,400.00		6.68			627,628.57		640		84.14			6.744
650,000.01—700,000.00		5		3,377,600.00		5.14			675,520.00		635		79.65			6.393
700,000.01—750,000.00		3		2,159,550.00		3.29			719,850.00		677		86.13			6.756
750,000.01—800,000.00		2		1,553,750.00		2.36			776,875.00		622		79.53			6.675
850,000.01—900,000.00		1		875,000.00		1.33			875,000.00		656		76.09			6.000
900,000.01—950,000.00		1		920,000.00		1.40			920,000.00		698		80.00			5.500
950,000.01—1,000,000.00		1		1,000,000.00		1.52			1,000,000.00		633		80.00			6.900
1,000,000.01 >=		1		1,206,800.00		1.84			1,206,800.00		655		80.00			6.170
Total:		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%

Distribution by Remaining Term to Maturity


Remaining Term (months)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
301—360		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%
Total:		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%

Distribution by Original Term to Maturity


Original Term (months)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
301—360		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%
Total:		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Interest Only Collateral)

Distribution by Original Loan-to-Value Ratio


Original Loan-to-Value Ratio (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
35.01—40.00		1	$	197,000.00		0.30	%	$	197,000.00		594		39.40	%		6.300	%
45.01—50.00		3		711,000.00		1.08			237,000.00		653		47.96			6.644
50.01—55.00		1		685,000.00		1.04			685,000.00		614		52.69			6.200
55.01—60.00		1		270,000.00		0.41			270,000.00		657		55.56			5.650
60.01—65.00		5		1,495,000.00		2.27			299,000.00		635		64.20			6.413
65.01—70.00		12		3,820,000.00		5.81			318,333.33		651		68.22			6.360
70.01—75.00		11		4,654,750.00		7.08			423,159.09		655		74.49			6.555
75.01—80.00		62		26,117,640.00		39.73			421,252.26		648		79.53			6.701
80.01—85.00		31		11,562,966.00		17.59			372,998.90		646		84.32			6.520
85.01—90.00		40		14,933,168.00		22.72			373,329.20		648		89.56			6.641
90.01—95.00		3		1,285,000.00		1.95			428,333.33		675		94.43			7.140
Total:		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%

Distribution by Combined Original Loan-to-Value Ratio


Combined Original Loan-to-Value Ratio (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
35.01—40.00		1	$	197,000.00		0.30	%	$	197,000.00		594		39.40	%		6.300	%
45.01—50.00		3		711,000.00		1.08			237,000.00		653		47.96			6.644
50.01—55.00		1		685,000.00		1.04			685,000.00		614		52.69			6.200
55.01—60.00		1		270,000.00		0.41			270,000.00		657		55.56			5.650
60.01—65.00		5		1,495,000.00		2.27			299,000.00		635		64.20			6.413
65.01—70.00		12		3,820,000.00		5.81			318,333.33		651		68.22			6.360
70.01—75.00		10		3,886,000.00		5.91			388,600.00		658		74.39			6.526
75.01—80.00		34		14,773,900.00		22.48			434,526.47		649		79.16			6.469
80.01—85.00		31		11,562,966.00		17.59			372,998.90		646		84.32			6.520
85.01—90.00		41		15,608,068.00		23.75			380,684.59		646		88.78			6.699
90.01—95.00		3		1,285,000.00		1.95			428,333.33		675		94.43			7.140
95.01—100.00		28		11,437,590.00		17.40			408,485.36		648		80.16			6.925
Total:		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Interest Only Collateral)

Distribution by State


State	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
CA		85	$	39,126,452.00		59.52	%	$	460,311.20		648		79.89	%		6.508	%
MD		14		4,566,600.00		6.95			326,185.71		642		83.49			6.845
NY		9		4,245,500.00		6.46			471,722.22		653		81.51			6.556
FL		8		2,363,772.00		3.60			295,471.50		618		81.20			7.323
WA		7		1,624,500.00		2.47			232,071.43		648		83.85			6.605
NV		3		1,441,850.00		2.19			480,616.67		679		80.96			6.088
AZ		6		1,414,020.00		2.15			235,670.00		656		87.37			7.051
VA		5		1,168,000.00		1.78			233,600.00		635		84.64			6.420
IL		4		1,064,250.00		1.62			266,062.50		644		84.58			7.433
GA		3		1,056,400.00		1.61			352,133.33		671		75.53			6.598
RI		1		1,000,000.00		1.52			1,000,000.00		633		80.00			6.900
OR		4		885,100.00		1.35			221,275.00		645		87.76			7.044
CO		2		824,000.00		1.25			412,000.00		653		66.69			6.596
DC		2		764,000.00		1.16			382,000.00		648		78.04			6.664
HI		1		512,000.00		0.78			512,000.00		645		80.00			6.550
Other		16		3,675,080.00		5.59			229,692.50		656		82.60			6.794
Total:		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%

Distribution by Occupancy Type


Occupancy	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
Owner Occupied		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%
Total:		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%

Distribution by Property Type


Property Type	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
Single Family		148	$	57,864,124.00		88.03	%	$	390,973.81		649		80.71	%		6.606	%
Multi Family		12		5,644,650.00		8.59			470,387.50		648		79.99			6.516
Condo		10		2,222,750.00		3.38			222,275.00		628		83.33			7.126
Total:		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Interest Only Collateral)

Distribution by Loan Purpose


Loan Purpose	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
Cash Out		139	$	53,086,712.00		80.76	%	$	381,918.79		649		80.56	%		6.547	%
Purchase		25		9,875,062.00		15.02			395,002.48		644		80.92			7.015
Refinance		6		2,769,750.00		4.21			461,625.00		643		83.50			6.511
Total:		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%

Distribution by Documentation Type


Documentation Type	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
Full Documentation		148	$	56,297,724.00		85.65	%	$	380,390.03		647		81.26	%		6.537	%
Limited Documentation		4		1,660,000.00		2.53			415,000.00		633		81.70			6.776
Stated Documentation		18		7,773,800.00		11.83			431,877.78		659		76.78			7.158
Total:		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%

Distribution by Credit Score


Credit Score Range	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
576—600		7	$	1,546,700.00		2.35	%	$	220,957.14		592		69.30	%		7.175	%
601—625		26		10,007,846.00		15.23			384,917.15		612		79.94			6.852
626—650		55		21,953,442.00		33.40			399,153.49		639		80.66			6.709
651—675		62		23,891,836.00		36.35			385,352.19		662		82.36			6.497
676—700		20		8,331,700.00		12.68			416,585.00		686		79.37			6.327
Total:		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Interest Only Collateral)

Distribution by Original Prepayment Penalty Term


Prepayment Penalty Terms (months)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
0		22	$	6,277,300.00		9.55	%	$	285,331.82		645		82.24	%		6.967	%
12		29		12,282,200.00		18.69			423,524.14		643		79.03			6.891
24		48		19,196,736.00		29.20			399,932.00		650		81.31			6.730
36		71		27,975,288.00		42.56			394,018.14		650		80.76			6.338
Total:		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%

Distribution by Initial Interest Rate Cap


Initial Cap (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
1.500		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%
Total:		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%

Distribution by Periodic Interest Rate Cap


Periodic Cap (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
1.500		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%
Total:		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Interest Only Collateral)

Distribution by Gross Margin


ARM Margin (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
2.001—3.000		2	$	868,250.00		1.32	%	$	434,125.00		645		87.15	%		5.250	%
3.001—4.000		56		24,869,432.00		37.83			444,097.00		657		78.68			6.015
4.001—5.000		85		31,273,842.00		47.58			367,927.55		643		81.63			6.798
5.001—6.000		23		7,190,900.00		10.94			312,647.83		641		83.04			7.775
6.001—7.000		4		1,529,100.00		2.33			382,275.00		644		81.38			7.989
Total:		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%

Distribution by Maximum Mortgage Rate


Maximum Mortgage Rate (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
11.001—12.000		32	$	14,287,150.00		21.74	%	$	446,473.44		658		79.79	%		5.792	%
12.001—13.000		95		38,870,624.00		59.14			409,164.46		647		80.49			6.578
13.001—14.000		34		9,714,050.00		14.78			285,707.35		641		83.31			7.429
14.001—15.000		9		2,859,700.00		4.35			317,744.44		636		80.06			8.489
Total:		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%

Distribution by Minimum Mortgage Rate


Minimum Mortgage Rate (%)	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
5.001—6.000		32	$	14,287,150.00		21.74	%	$	446,473.44		658		79.79	%		5.792	%
6.001—7.000		95		38,870,624.00		59.14			409,164.46		647		80.49			6.578
7.001—8.000		34		9,714,050.00		14.78			285,707.35		641		83.31			7.429
8.001—9.000		9		2,859,700.00		4.35			317,744.44		636		80.06			8.489
Total:		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%

Carrington Mortgage Loan Trust, Series 2007-FRE1

Asset Backed Pass-Through Certificates

February 20, 2007

The Mortgage Loans (Interest Only Collateral)

Distribution by Initial Rate Adjustment Date


Initial Interest Rate Adjustment Date	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
2008-05-01		1	$	181,600.00		0.28	%	$	181,600.00		691		80.00	%		7.990	%
2008-12-01		42		16,016,036.00		24.37			381,334.19		651		79.62			6.932
2009-01-01		24		8,849,250.00		13.46			368,718.75		640		81.12			6.632
2009-09-01		2		844,000.00		1.28			422,000.00		643		80.00			6.836
2009-10-01		2		713,600.00		1.09			356,800.00		653		80.00			6.854
2009-11-01		8		3,053,920.00		4.65			381,740.00		651		77.45			6.265
2009-12-01		60		24,319,250.00		37.00			405,320.83		651		80.60			6.514
2010-01-01		24		9,305,468.00		14.16			387,727.83		637		83.60			6.454
2011-12-01		2		1,008,000.00		1.53			504,000.00		682		81.51			6.179
2012-01-01		5		1,440,400.00		2.19			288,080.00		655		81.95			6.405
Total:		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%

Distribution by Lien Type


Lien Type	Number of Mortgage Loans		Current Unpaid Principal Balance		Percentage of Current Unpaid Principal Balance			Average Current Unpaid Principal Balance		Weighted Average Credit Score		Weighted Average Original Loan- to-Value Ratio			Weighted Average Gross Coupon
1		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%
Total:		170	$	65,731,524.00		100.00	%	$	386,656.02		648		80.74	%		6.616	%

Carrington Mortgage Loan Trust, Series 2007-FRE1 Inactive FWPFree writing prospectus