Exhibit 33.1
HOME LOAN SERVICES
Management's Certification Regarding Compliance with Securities and Exchange
Commission Regulation AB Servicing Criteria
1. Home Loan Services, Inc, f/k/a National City Home Loan Services, Inc (the
"Servicer") is responsible for assessing compliance by it with the servicing
criteria under paragraph (d) of Item 1122 of the Securities and Exchange
Commissions' Regulation AB, except for sections 1122(d)(l)(iii), (d)(3)(i)C,
(d)(4)(ii), (xi), and (xii), which are not applicable to the activities the
Servicer performs with respect to the Platform, as of December 31, 2006, and for
the period January 1, 2006 through December 31, 2006. The Platform is comprised
of all serviced first and second lien residential mortgage loans sold in public
securitizations closed during December 2004, and calendar years ended December
31, 2005 and 2006 (see attached Appendix A);
2. Except as set forth in paragraph 1 above, the Servicer used the criteria set
forth in paragraph (d) of Item 1122 of Regulation AB to assess the compliance
with the applicable servicing criteria;
3. The Servicer has complied, in all material respects, with the applicable
servicing criteria as of and for the period ended December 31, 2006, except for
1122(d)(l)(i) pertaining to policies and procedures to monitor any performance
or other triggers in accordance with the transaction agreements although daily
delinquency and static pool reports exist but were not utilized to calculate the
triggers, 1122(d)(4)(x)A where 5 of 60 escrow accounts sampled were not analyzed
within a 12 month period, but where 4 accounts were analyzed within 1 week after
said deadline; and for 1122(d)(4)(x)C, 2 of 60 escrow accounts sampled, where
escrow funds were not returned within 30 days after payoff, but were returned
within 34 and 67 days, respectively, after payoff;
5. A registered public accounting firm has issued an attestation report on the
Servicer's assessment of compliance with the applicable servicing criteria as of
and for the period ending December 31, 2006.
March 1, 2007
Home Loan Services, Inc
/s/ Steven A. Baranet
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Steven A. Baranet
Vice President, Investor Reporting
Loan Services
P.O. Box 1838
Pittsburgh, PA 15230-1838
Merrill Lynch Logo [LOGO]
Home Loan Services is a subsidiary of EQUAL
Merrill Lynch Bank and Trust Co., FSB HOUSING
LENDER
Appendix A
Home Loan Services, Inc.
Reg AB Platform
FFMLT 2004-FF11
FFMLT 2005-FFA
FFMLT 2005-FF2
FFMLT 2005-FF3
FFMLT 2005-FF4
SASCO 2005-S4
FFMLT 2005-FFH3
SOUNDVIEW 2005-4
FFMLT 2005-FF8
FFMLT 2005-FF9
FFMLT 2005-FF10
FFMLT 2005-FF11
FFMLT 2005-FF12
SAIL 2005-10
FFMLT 2005-FFH4
HSIASCT 2005-I1
FFMLT 2006-FF1
FFMLT 2006-FF2
FFMLT 2006-FFH1
FFMLT 2006-FF3
FFMLT 2006-FF4
FFMLT 2006-FF5
FFMLT 2006-FF6
FFMLT 2006-FF7
FFMLT 2006-FF8
FFMLT 2006-FF9
FFMLT 2006-FF10
FFMLT 2006-FF12
FFMLT 2006-FF13
FFMLT 2006-FF14
FFMLT 2006-FF15
FFMLT 2006-FFA
FFMLT 2006-FF16
FFMLT 2006-FF17
FFMLT 2006-FFB
FFMLT 2006-FF18
MLMIT 2006-FF1
GSAA 2006-S1
Relevant Servicing Criteria
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Home Loan Services,
Servicing Criteria Inc.
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Reference Criteria
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General Servicing Considerations
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1122(d)(l)(i) Policies and procedures are instituted to monitor X
any performance or other triggers and events of
default in accordance with the transaction
agreements.
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1122(d)(l)(ii) If any material servicing activities are outsourced to X
third parties, policies and procedures are instituted to
monitor the third party's performance and compliance with
such Servicing activities.
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1122(d)(l)(iii) Any requirements in the transaction agreements to N/A
maintain a back-up servicer for the mortgage loans
are maintained.
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1122(d)(l)(iv) A fidelity bond and errors and omissions policy is in X
effect on the party participating in the servicing
function throughout the reporting period in the amount of
coverage required by and otherwise in accordance with the
terms of the transaction agreements.
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Cash Collection and Administration
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1122(d)(2)(i) Payments on mortgage loans are deposited into the X
appropriate custodial bank accounts and related bank
clearing accounts no more than two business days following
receipt, or such other number of days specified in the
transaction agreements.
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1122(d)(2)(ii) Disbursements made via wire Transfer on behalf of an X
obligor or to an investor are made only by authorized
personnel.
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1122(d)(2)(iii) Advances of funds or guarantees regarding collections, X
cash flows or distributions, and any interest or other
fees charged for such advances, are made, reviewed and
approved as specified in the transaction agreements.
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1122(d)(2)(iv) The related accounts for the transaction, such as cash X
reserve accounts or accounts established as a form of
overcollateralization, are separately maintained (e.g.,
with respect to commingling of cash) as set forth in the
transaction agreements.
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1122(d)(2)(v) Each custodial account is maintained at a federally X
insured depository institution as set forth in the
transaction agreements. For purposes of this criterion,
"federally insured depository institution" with respect to
a foreign financial institution means a foreign financial
institution that meets the requirements of Rule 13k-l(b)(1)
of the Securities Exchange Act.
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1122(d)(2)(vi) Unissued checks are safeguarded so as to X
prevent unauthorized access.
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Home Loan Services,
Servicing Criteria Inc.
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Reference Criteria
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1122(d)(2)(vii) Reconciliations are prepared on a monthly basis for all X
asset-backed securities related bank accounts, including
custodial accounts and related bank clearing accounts.
These reconciliations are (A) mathematically accurate;
(B) prepared within 30 calendar days after the bank
statement cutoff date, or such other number of days
specified in the transaction agreements; (C) reviewed
and approved by someone other than the person who
prepared the reconciliation; and (D) contain
explanations for reconciling items. These reconciling
items are resolved within 90 calendar days of their
original identification, or such other number of days
specified in the transaction agreements.
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Investor Remittances and Reporting
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1122(d)(3)(i) Reports to investors, including those to be filed with A, B & D
the Commission, are maintained in accordance with the
transaction agreements and applicable Commission
requirements. Specifically, such reports (A) are
prepared in accordance with timeframes and other terms set
forth in the transaction agreements; (B) provide information
calculated in accordance with the terms specified in the
transaction agreements; (C) are filed with the Commission as
required by its rules and regulations; and (D) agree with
investors' or the trustee's records as to the total unpaid
principal balance and number of mortgage loans serviced by
the Servicer.
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1122(d)(3)(ii) Amounts due to investors are allocated and remitted in X
accordance with timeframes, distribution priority and other
terms set forth in the transaction agreements.
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1122(d)(3)(iii) Disbursements made to an investor are posted within two X
business days to the Servicer's investor records, or such
other number of days specified in the transaction agreements.
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1122(d)(3)(iv) Amounts remitted to investors per the investor reports agree X
with cancelled checks, or other form of payment, or
custodial bank statements.
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Pool Asset Administration
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1122(d)(4)(i) Collateral or security on mortgage loans is maintained as X
required by the transaction agreements or related mortgage
loan documents.
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1122(d)(4)(ii) Mortgage loan and related documents are safeguarded as N/A
required by the transaction agreements.
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1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool X
are made, reviewed and approved in accordance with any
conditions or requirements in the transaction agreements.
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Home Loan Services,
Servicing Criteria Inc.
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Reference Criteria
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1122(d)(4)(iv) Payments on mortgage loans, including any payoffs, made in X
accordance with the related mortgage loan documents are
posted to the Servicer's obligor records maintained no more
than two business days after receipt, or such other number
of days specified in the transaction agreements, and
allocated to principal, interest or other items (e.g.,
escrow) in accordance with the related mortgage loan
documents.
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1122(d)(4)(v) The Servicer's records regarding the mortgage loans X
agree with the Servicer's records with respect to an
obligor's unpaid principal balance.
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1122(d)(4)(vi) Changes with respect to the terms or status of an X
obligor's mortgage loans (e.g., loan modifications or
re-agings) are made, reviewed and approved by authorized
personnel in accordance with the transaction agreements
and related pool asset documents.
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1122(d)(4)(vii) Loss mitigation or recovery actions (e.g., forbearance X
plans, modifications and deeds in lieu of foreclosure,
foreclosures and repossessions, as applicable) are
initiated, conducted and concluded in accordance with the
timeframes or other requirements established by the
transaction agreements.
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1122(d)(4)(viii) Records documenting collection efforts are maintained X
during the period a mortgage loan is delinquent in
accordance with the transaction agreements. Such records
are maintained on at least a monthly basis, or such other
period specified in the transaction agreements, and
describe the entity's activities in monitoring delinquent
mortgage loans including, for example, phone calls,
letters and payment rescheduling plans in cases where
delinquency is deemed temporary (e.g., illness or
unemployment).
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1122(d)(4)(ix) Adjustments to interest rates or rates of return for X
mortgage loans with variable rates are computed based on
the related mortgage loan documents.
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1122(d)(4)(x) Regarding any funds held in trust for an obligor (such as X
escrow accounts): (A) such funds are analyzed, in
accordance with the obligor's mortgage loan documents, on
at least an annual basis, or such other period specified
in the transaction agreements; (B) interest on such funds
is paid, or credited, to obligors in accordance with
applicable mortgage loan documents and state laws; and (C)
such funds are returned to the obligor within 30 calendar
days of full repayment of the related mortgage loans, or
such other number of days specified in the transaction
agreements.
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Home Loan Services,
Servicing Criteria Inc.
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Reference Criteria
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1122(d)(4)(xi) Payments made on behalf of an obligor (such as tax or N/A
insurance payments) are made on or before the related Servicing Function
penalty or expiration dates, as indicated on the Participant
appropriate bills or notices for such payments, provided
that such support has been received by the servicer at
least 30 calendar days prior to these dates, or such other
number of days specified in the transaction agreements.
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1122(d)(4)(xii) Any late payment penalties in connection with any payment N/A
to be made on behalf of an obligor are paid from the Servicing Function
servicer's funds and not charged to the obligor, unless Participant
the late payment was due to the obligor's error or
omission.
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1122(d)(4)(xiii) Disbursements made on behalf of an obligor are posted X
within two business days to the obligor's records
maintained by the servicer, or such other number of days
specified in the transaction agreements.
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1122(d)(4)(xiv) Delinquencies, charge-offs and uncollectible accounts X
are recognized and recorded in accordance with the
transaction agreements.
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1122(d)(4)(xv) Any external enhancement or other support, identified in
Item 1114(a)(1) through (3) or Item 1115 of Regulation
AB, is maintained as set forth in the transaction
agreements.
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