UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 10-D
ASSET-BACKED ISSUER
DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the monthly distribution period from:
May 15, 2007 to May 25, 2007
Commission File Number of issuing entity: 333-141008-02
SunTrust Acquisition Closed-End Seconds Trust, Series 2007-1
(Exact name of issuing entity as specified in its charter)
Commission File Number of depositor: 333-141008
ACE Securities Corp.
(Exact name of depositor as specified in its charter)
SunTrust Asset Funding, LLC
(Exact name of sponsor as specified in its charter)
New York
(State or other jurisdiction of incorporation or organization
of the issuing entity)
Pending
(I.R.S. Employer Identification No.)
c/o Wells Fargo Bank, N.A.
9062 Old Annapolis Road
Columbia, MD 21045
(Address of principal executive offices of the issuing entity) (Zip Code)
(410) 884-2000
(Telephone number, including area code)
Not Applicable
(Former name, former address, if changed since last report)
<TABLE>
Registered/reporting
pursuant to (check one)
Title of Section Section Section Name of Exchange
Class 12(b) 12(g) 15(d) (If Section 12(b))
<s> <c> <c> <c> <c>
A _____ _____ __X___ ____________
M-1 _____ _____ __X___ ____________
M-2 _____ _____ __X___ ____________
M-3 _____ _____ __X___ ____________
M-4 _____ _____ __X___ ____________
CE _____ _____ __X___ ____________
P _____ _____ __X___ ____________
R _____ _____ __X___ ____________
</TABLE>
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days.
Yes __X__ No ____
Part I - DISTRIBUTION INFORMATION
Item 1. Distribution and Pool Performance Information
On May 25, 2007 a distribution was made to holders of SunTrust
Acquisition Closed-End Seconds Trust, Series 2007-1.
The distribution report is attached as an Exhibit to this Form 10-D. Please
see Item 9(b), Exhibit 99.1 for the related information.
Part II - OTHER INFORMATION
Item 3. Sales of Securities and Use of Proceeds.
On May 15, 2007, the SunTrust Acquisition Closed-End Seconds Trust,
Series 2007-1, Class M-4 Certificates were sold by the depositor to
the initial purchasers set forth below. Each of these transactions
were exempt from registration under the Securities Act of 1933, as
amended (the "Securities Act"), pursuant to Section 4(2) of the
Securities Act.
<TABLE>
<CAPTION>
Initial Purchasers Class M-4 Certificates
<s> <c> <c>
Deutsche Bank Securities Inc. $8,344,500.00
SunTrust Capital Markets, Inc. $8,344,500.00
</TABLE>
In addition, 100% of the SunTrust Acquisition Closed-End Seconds Trust, Series
2007-1, Class CE, Class P and Class R Certificates were sold by the
depositor to GMAC Mortgage, LLC and from GMAC Mortgage, LLC to SunTrust
Asset Funding, LLC. Each of these transactions were exempt from
registration under the Securities Act, pursuant to Section 4(2)of the
Securities Act. The depositor received the net proceeds from the sale of the
foregoing certificates, the publicly offered certificates and the privately
offered certificates and used those proceeds to purchase the pool of mortgage
loans constituting the asset pool by which such certificates are backed from
GMAC Mortgage, LLC, which mortgage loans GMAC Mortgage, LLC had purchased
from the Sponsor.
Item 9. Exhibits.
(a) The following is a list of documents filed as part of this Report on
Form 10-D:
(99.1) Monthly report distributed to holders of SunTrust
Acquisition Closed-End Seconds Trust, Series 2007-1,
relating to the May 25, 2007 distribution.
(b) The exhibits required to be filed by the Registrant pursuant to this
Form are listed above and in the Exhibit Index that immediately follows the
signature page hereof.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
SunTrust Acquisition Closed-End Seconds Trust, Series 2007-1
(Issuing Entity)
Wells Fargo Bank, N.A.
(Master Servicer)
/s/ Kelly Rentz
Kelly Rentz, Officer
Date: June 7, 2007
EXHIBIT INDEX
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of SunTrust
Acquisition Closed-End Seconds Trust, Series 2007-1,
relating to the May 25, 2007 distribution.
EX-99.1
ACE Securities Corporation
Asset Backed Pass-Through Certificates
Distribution Date: 5/25/2007
ACE Securities Corporation
Asset Backed Pass-Through Certificates
Series 2007-ST1
Contact: Customer Service - CTSLink
Wells Fargo Bank, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
www.ctslink.com
Telephone: (301) 815-6600
Fax: (301) 815-6660
<TABLE>
<CAPTION>
Certificateholder Distribution Summary
Class CUSIP Record Certificate Beginning Interest
Date Pass-Through Certificate Distribution
Rate Balance
<s> <c> <c> <c> <c> <c>
A 86801CAA1 05/24/2007 5.64000% 317,075,000.00 496,750.83
M-1 86801CAB9 05/24/2007 7.82000% 7,232,000.00 15,709.51
M-2 86801CAC7 05/24/2007 7.82000% 11,496,000.00 24,971.87
M-3 86801CAD5 05/24/2007 7.82000% 14,834,000.00 32,222.74
M-4 86801CAE3 05/24/2007 7.82000% 16,689,000.00 36,252.22
CE ACE7ST1CE 04/30/2007 0.00000% 3,522,526.32 298,804.14
P ACE7ST1P1 04/30/2007 0.00000% 100.00 0.00
R ACE7ST1R1 04/30/2007 0.00000% 0.00 0.00
Totals 370,848,626.32 904,711.31
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Distribution Summary (continued)
Class Principal Current Ending Total Cumulative
Distribution Realized Certificate Distribution Realized
Loss Balance Losses
<s> <c> <c> <c> <c> <c>
A 1,752,210.91 0.00 315,322,789.09 2,248,961.74 0.00
M-1 0.00 0.00 7,232,000.00 15,709.51 0.00
M-2 0.00 0.00 11,496,000.00 24,971.87 0.00
M-3 0.00 0.00 14,834,000.00 32,222.74 0.00
M-4 2,475,162.84 0.00 14,213,837.16 2,511,415.06 0.00
CE 0.00 0.00 5,998,224.79 298,804.14 0.00
P 0.00 0.00 100.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00
Totals 4,227,373.75 0.00 369,096,951.04 5,132,085.06 0.00
<FN>
As Master Servicer, Wells Fargo Bank, N.A. has independently calculated collateral
information based on loan level data received from external parties, which may include
the Servicers, Issuer and other parties to the transaction. Wells Fargo Bank, N.A.
expressly disclaims any responsibility for the accuracy or completeness of information
furnished to it by those third parties.
All Record Dates are based upon the governing documents and logic set forth as of closing.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement
Class Original Beginning Scheduled UnScheduled Accretion Realized
Face Certificate Principal Principal Loss
Amount Balance Distribution Distribution
<s> <c> <c> <c> <c> <c> <c>
A 317,075,000.00 317,075,000.00 0.00 1,752,210.91 0.00 0.00
M-1 7,232,000.00 7,232,000.00 0.00 0.00 0.00 0.00
M-2 11,496,000.00 11,496,000.00 0.00 0.00 0.00 0.00
M-3 14,834,000.00 14,834,000.00 0.00 0.00 0.00 0.00
M-4 16,689,000.00 16,689,000.00 0.00 2,475,162.84 0.00 0.00
CE 3,522,526.32 3,522,526.32 0.00 0.00 0.00 0.00
P 100.00 100.00 0.00 0.00 0.00 0.00
R 0.00 0.00 0.00 0.00 0.00 0.00
Totals 370,848,626.32 370,848,626.32 0.00 4,227,373.75 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement (continued)
Class Total Ending Ending Total
Principal Certificate Certificate Principal
Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c>
A 1,752,210.91 315,322,789.09 0.99447383 1,752,210.91
M-1 0.00 7,232,000.00 1.00000000 0.00
M-2 0.00 11,496,000.00 1.00000000 0.00
M-3 0.00 14,834,000.00 1.00000000 0.00
M-4 2,475,162.84 14,213,837.16 0.85168897 2,475,162.84
CE 0.00 5,998,224.79 1.70281901 0.00
P 0.00 100.00 1.00000000 0.00
R 0.00 0.00 0.00000000 0.00
Totals 4,227,373.75 369,096,951.04 0.99527658 4,227,373.75
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement
Class Original Beginning Scheduled UnScheduled Accretion
Face Certificate Principal Principal
Amount Balance Distribution Distribution
<s> <c> <c> <c> <c> <c>
A 317,075,000.00 1000.00000000 0.00000000 5.52617176 0.00000000
M-1 7,232,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-2 11,496,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-3 14,834,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
M-4 16,689,000.00 1000.00000000 0.00000000 148.31103361 0.00000000
CE 3,522,526.32 1000.00000000 0.00000000 0.00000000 0.00000000
P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
R 0.00 0.00000000 0.00000000 0.00000000 0.00000000
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement (continued)
Class Realized Total Ending Ending Total
Loss Principal Certificate Certificate Principal
Reduction Balance Percentage Distribution
<s> <c> <c> <c> <c> <c>
A 0.00000000 5.52617176 994.47382824 0.99447383 5.52617176
M-1 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
M-2 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
M-3 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
M-4 0.00000000 148.31103361 851.68896639 0.85168897 148.31103361
CE 0.00000000 0.00000000 1702.81901258 1.70281901 0.00000000
P 0.00000000 0.00000000 1000.00000000 1.00000000 0.00000000
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
NOTE: All classes per $1,000 denomination.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement
Class Accrual Accrual Current Beginning Current Payment of
Dates Days Certificate Certificate/ Accrued Unpaid Interest
Rate Notional Interest Shortfall (1)
Balance
<s> <c> <c> <c> <c> <c> <c>
A 05/15/07 - 05/24/07 10 5.64000% 317,075,000.00 496,750.83 0.00
M-1 05/15/07 - 05/24/07 10 7.82000% 7,232,000.00 15,709.51 0.00
M-2 05/15/07 - 05/24/07 10 7.82000% 11,496,000.00 24,971.87 0.00
M-3 05/15/07 - 05/24/07 10 7.82000% 14,834,000.00 32,222.74 0.00
M-4 05/15/07 - 05/24/07 10 7.82000% 16,689,000.00 36,252.22 0.00
CE N/A N/A 0.00000% 3,522,526.32 0.00 0.00
P N/A N/A 0.00000% 100.00 0.00 0.00
R N/A N/A 0.00000% 0.00 0.00 0.00
Totals 605,907.17 0.00
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement (continued)
Class Current Non-Supported Total Remaining Ending
Interest Interest Interest Unpaid Interest Certificate/
Shortfall(1) Shortfall Distribution Shortfall(1) Notional
Balance
<s> <c> <c> <c> <c> <c>
A 0.00 0.00 496,750.83 0.00 315,322,789.09
M-1 0.00 0.00 15,709.51 0.00 7,232,000.00
M-2 0.00 0.00 24,971.87 0.00 11,496,000.00
M-3 0.00 0.00 32,222.74 0.00 14,834,000.00
M-4 0.00 0.00 36,252.22 0.00 14,213,837.16
CE 0.00 0.00 298,804.14 0.00 5,998,224.79
P 0.00 0.00 0.00 0.00 100.00
R 0.00 0.00 0.00 0.00 0.00
Totals 0.00 0.00 904,711.31 0.00
<FN>
(1) Amount also includes Coupon Cap or Basis Risk Shortfalls, if applicable.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement
Class Original Current Beginning Current Payment of
Face Certificate Certificate/ Accrued Unpaid Interest
Amount Rate Notional Interest Shortfall (1)
Balance
<s> <c> <c> <c> <c> <c>
A 317,075,000.00 5.64000% 1000.00000000 1.56666666 0.00000000
M-1 7,232,000.00 7.82000% 1000.00000000 2.17222207 0.00000000
M-2 11,496,000.00 7.82000% 1000.00000000 2.17222251 0.00000000
M-3 14,834,000.00 7.82000% 1000.00000000 2.17222192 0.00000000
M-4 16,689,000.00 7.82000% 1000.00000000 2.17222242 0.00000000
CE 3,522,526.32 0.00000% 1000.00000000 0.00000000 0.00000000
P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000
R 0.00 0.00000% 0.00000000 0.00000000 0.00000000
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement (continued)
Class Current Non-Supported Total Remaining Unpaid Ending
Interest Interest Interest Interest Certificate/
Shortfall(1) Shortfall Distribution Shortfall(1) Notional
Balance
<s> <c> <c> <c> <c> <c>
A 0.00000000 0.00000000 1.56666666 0.00000000 994.47382824
M-1 0.00000000 0.00000000 2.17222207 0.00000000 1000.00000000
M-2 0.00000000 0.00000000 2.17222251 0.00000000 1000.00000000
M-3 0.00000000 0.00000000 2.17222192 0.00000000 1000.00000000
M-4 0.00000000 0.00000000 2.17222242 0.00000000 851.68896639
CE 0.00000000 0.00000000 84.82665929 0.00000000 1702.81901258
P 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000
R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
<FN>
(1) Amount also includes Coupon Cap or Basis Risk Shortfalls, if applicable.
NOTE: All classes per $1,000 denomination.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Account Statement
CERTIFICATE ACCOUNT
<s> <c>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 4,951,360.25
Reserve Funds and Credit Enhancements 0.00
Proceeds from Repurchased Loans 0.00
Servicer Advances 337,588.37
Gains & Subsequent Recoveries (Realized Losses) 0.00
Prepayment Penalties 0.00
Swap/Cap Payments 23,786.04
Total Deposits 5,312,734.66
Withdrawals
Swap Payments 0.00
Reserve Funds and Credit Enhancements 0.00
Reimbursement for Servicer Advances 0.00
Total Administration Fees 180,649.60
Payment of Interest and Principal 5,132,085.06
Total Withdrawals (Pool Distribution Amount) 5,312,734.66
Ending Balance 0.00
<FN>
Servicer Advances are calculated as delinquent scheduled principal and interest.
</FN>
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<s> <c>
Total Prepayment/Curtailment Interest Shortfall 0.00
Servicing Fee Support 0.00
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
ADMINISTRATION FEES
<s> <c>
Gross Servicing Fee* 154,520.26
Class A Insurer Premium-XL Capital Assurance Inc. 20,257.57
Credit Risk Management Fee-Clayton Fixed Income 3,090.41
Master Servicing Fee-Wells Fargo Bank, N.A. 2,781.36
Supported Prepayment/Curtailment Interest Shortfall 0.00
Total Administration Fees 180,649.60
<FN>
*Servicer Payees include: GMAC MORTGAGE CORPORATION
</FN>
</TABLE>
<TABLE>
<CAPTION>
Reserve and Guaranty Funds
Account Name Beginning Current Current Ending
Balance Withdrawals Deposits Balance
<s> <c> <c> <c> <c>
Reserve Fund-Wells Fargo Bank, N.A. 1,000.00 0.00 0.00 1,000.00
P Certificate Account-Wells Fargo Bank, N.A. 0.00 0.00 0.00 0.00
Supplemental Interest Trust 0.00 23,786.05 23,786.05 0.00
<CAPTION>
Hedge Funds
Account Name Funds In (A) Funds Out(B) Net Amount(A - B)
<s> <c> <c> <c>
Swap Agreement-Bear Stearns Financial, FXNSC9506 496,242.21 472,456.17 23,786.04
</TABLE>
<TABLE>
<CAPTION>
Collateral Statement
<s> <c> <c>
Total
Collateral Description Mixed Fixed & Arm
Weighted Average Coupon Rate 11.446428
Weighted Average Net Rate 10.946428
Weighted Average Pass-Through Rate 10.927428
Weighted Average Remaining Term 196
Principal And Interest Constant 3,692,815.15
Beginning Loan Count 5,767
Loans Paid in Full 20
Ending Loan Count 5,747
Beginning Scheduled Balance 370,848,526.32
Ending Scheduled Balance 369,096,951.04
Actual Ending Collateral Balance 369,229,520.49
Scheduled Principal 155,405.06
Unscheduled Principal 1,596,270.22
Scheduled Interest 3,537,410.09
Servicing Fees 154,520.26
Master Servicing Fees 2,781.36
Trustee Fee 0.00
FRY Amount 0.00
Special Hazard Fee 0.00
Other Fee 3,090.41
Pool Insurance Fee 0.00
Spread 1 0.00
Spread 2 0.00
Spread 3 0.00
Net Interest 3,377,018.06
Realized Loss Amount 0.00
Cumulative Realized Loss 0.00
Percentage of Cumulative Losses 0.0000
Prepayment Penalty Waived Amount 0.00
Prepayment Penalty Waived Count 0
Prepayment Penalty Paid Amount 0.00
Prepayment Penalty Paid Count 0
Special Servicing Fee 0.00
</TABLE>
<TABLE>
<CAPTION>
Additional Reporting - Deal Level
Structural Reporting
<s> <c>
Three-Month Rolling Average 0.000000%
Net Monthly Excess Cashflow 2,774,502.61
Overcollateralization Increase Amount 2,475,698.47
Required Overcollateralization Amount 5,998,224.79
Overcollateralization Amount 5,998,224.79
Overcollateralization Reduction Amount 0.00
Credit Enhancement Percentage 14.569089%
Extraordinary Trust Fund Expenses 0.00
Relief Act Interest Shortfalls 0.00
<CAPTION>
Trigger Event Reporting
<s> <c>
Stepdown Occured NO
Trigger Event Occurred NO
Enhancement Delinquency Trigger
Trigger Result Pass
Threshold Value 4.500000%
Calculated Value 0.000000%
Cumulative Loss Trigger
Trigger Result Pass
Threshold Value 4.250000%
Calculated Value 0.000000%
Trigger
Trigger Result Pass
</TABLE>
<TABLE>
<CAPTION>
Delinquency Status
DELINQUENT BANKRUPTCY FORECLOSURE REO Total
<s> <c> <c> <c> <c> <c>
No. of Loans No. of Loans No. of Loans No. of Loans No. of Loans
Actual Balance Actual Balance Actual Balance Actual Balance Actual Balance
0-29 Days 0 0 0 0
0.00 0.00 0.00 0.00
30 Days 13 0 0 0 13
825,820.50 0.00 0.00 0.00 825,820.50
60 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
90 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
120 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
150 Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
180+ Days 0 0 0 0 0
0.00 0.00 0.00 0.00 0.00
Totals 13 0 0 0 13
825,820.50 0.00 0.00 0.00 825,820.50
No. of Loans No. of Loans No. of Loans No. of Loans No. of Loans
Actual Balance Actual Balance Actual Balance Actual Balance Actual Balance
0-29 Days 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000%
30 Days 0.226205% 0.000000% 0.000000% 0.000000% 0.226205%
0.223660% 0.000000% 0.000000% 0.000000% 0.223660%
60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
120 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
150 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
180+ Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
0.000000% 0.000000% 0.000000% 0.000000% 0.000000%
Totals 0.226205% 0.000000% 0.000000% 0.000000% 0.226205%
0.223660% 0.000000% 0.000000% 0.000000% 0.223660%
</TABLE>
<TABLE>
<CAPTION>
<s> <c>
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 337,588.37
</TABLE>
<TABLE>
<CAPTION>
REO Detail - All Mortgage Loans in REO during Current Period
<s> <c>
Summary - No REO Information to report this period.
</TABLE>
<TABLE>
<CAPTION>
REO Loan Detail - All Mortgage Loans in REO during Current Period
Month
Loan First Original
Loan Entered Payment LTV at Principal
Group Number REO Date State Origination Balance
<s> <c> <c> <c> <c> <c> <c>
No REO Loans this Period
</TABLE>
<TABLE>
<CAPTION>
REO Loan Detail - All Mortgage Loans in REO during Current Period (continued)
Current Paid Current Approximate
Loan Actual To Months Loan Delinquent
Group Number Balance Date Delinquent Rate Interest
<s> <c> <c> <c> <c> <c> <c>
No REO Loans this Period
</TABLE>
<TABLE>
<CAPTION>
Foreclosure Detail - All Mortgage Loans in Foreclosure during Current Period
<s> <c>
Summary - No Foreclosure Information to report this period.
</TABLE>
<TABLE>
<CAPTION>
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period
Month
Loan First Original
Loan Entered Payment LTV at Principal
Group Number FC Date State Origination Balance
<s> <c> <c> <c> <c> <c> <c>
No Foreclosure Loans this Period
</TABLE>
<TABLE>
<CAPTION>
Foreclosure Loan Detail - All Mortgage Loans in Foreclosure during Current Period (continued)
Current Paid Current Approximate
Loan Actual To Months Loan Delinquent
Group Number Balance Date Delinquent Rate Interest
<s> <c> <c> <c> <c> <c> <c>
No Foreclosure Loans this Period
</TABLE>
<TABLE>
<CAPTION>
Bankruptcy Detail - All Mortgage Loans in Bankruptcy during Current Period
<s> <c>
Summary - No Bankruptcy Information to report this period.
</TABLE>
<TABLE>
<CAPTION>
Bankruptcy Detail - All Mortgage Loans in Bankruptcy during Current Period
Group Loan Month Loan First State LTV at Original
Number Entered Payment Origination Principal
Bankruptcy Date Balance
<s> <c> <c> <c> <c> <c> <c>
No Bankruptcy Loans this Period
</TABLE>
<TABLE>
<CAPTION>
Bankruptcy Detail - All Mortgage Loans in Bankruptcy during Current Period (continued)
Group Loan Current Paid To Months Current Approximate
Number Actual Date Delinquent Loan Rate Delinquent
Balance Interest
<s> <c> <c> <c> <c> <c> <c>
No Bankruptcy Loans this Period
</TABLE>
<TABLE>
<CAPTION>
Realized Loss Detail Report - Loans with Losses during Current Period
Summary
# Loans Prior Realized Current
with Actual Loss/(Gain) Loss
Group Losses Balance Amount Percentage
<s> <c> <c> <c> <c>
Total 0 0.00 0.00 0.000%
</TABLE>
<TABLE>
<CAPTION>
Realized Loss Loan Detail Report - Loans With Losses during Current Period
Original Current
Loan Principal Note LTV at Original
Group Number Balance Rate State Origination Term
<s> <c> <c> <c> <c> <c> <c>
No Losses this Period
</TABLE>
<TABLE>
<CAPTION>
Realized Loss Loan Detail Report - Loans With Losses during Current Period (continued)
Prior Cumulative
Loan Actual Realized Realized
Group Number Balance Loss/(Gain) Loss/(Gain)
<s> <c> <c> <c> <c>
No Losses this Period
</TABLE>
<TABLE>
<CAPTION>
Realized Loss Report - Collateral
<s> <c>
Summary - No Realized Loss Information to report this period.
<FN>
Calculation Methodology:
Monthly Default Rate (MDR): sum(Beg Scheduled Balance of Liquidated Loans)/ sum(Beg Scheduled Balance).
Conditional Default Rate (CDR): 1-((1-MDR)^12)
SDA Standard Default Assumption: If WAS is less than or equal to 30 then CDR / (WAS * 0.02) else if WAS is greater than 30
and less than or equal to 60 then CDR / 0.6 else if WAS is greater than 60 and less than or equal to 120 then CDR / (0.6 -
((WAS - 60) * 0.0095)) else if WAS is greater than 120 then CDR / 0.03
Cumulative Loss Severity: Sum (Realized Losses) / Sum (Ending Actual Balance for loans that have experienced a loss).
</FN>
</TABLE>
<TABLE>
<CAPTION>
Prepayment Detail - Prepayments during Current Period
Summary
Loans Paid In Full Repurchased Loans
Original Current Original Current
Principal Scheduled Principal Scheduled
Group Count Balance Balance Count Balance Balance
<s> <c> <c> <c> <c> <c> <c>
Total 20 1,451,662.00 1,389,570.69 0 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Prepayment Detail - Prepayments during Current Period (continued)
Summary
Substitution Loans Liquidated Loans Curtailments
Original Current Original Current
Principal Scheduled Principal Scheduled Curtailment
Group Count Balance Balance Count Balance Balance Amount
<s> <c> <c> <c> <c> <c> <c> <c>
Total 0 0.00 0.00 0 0.00 0.00 207,679.67
</TABLE>
<TABLE>
<CAPTION>
Prepayment Loan Detail - Prepayments during Current Period
First Original
Loan LTV at Payment Principal Prepayment
Group Number State Origination Date Balance Amount
<s> <c> <c> <c> <c> <c> <c>
Summary 0260940094 CT 80.00 01-Dec-2006 88,000.00 87,807.40
Summary 0260940176 UT 100.00 01-Jan-2007 78,000.00 77,903.63
Summary 0260940269 GA 100.00 01-Nov-2006 87,694.00 87,556.87
Summary 0260940430 CT 95.00 01-Dec-2006 20,100.00 20,061.88
Summary 0260957479 GA 100.00 01-Jan-2007 37,700.00 37,633.48
Summary 0260957835 TX 83.77 01-Jan-2007 10,000.00 9,965.99
Summary 0261003090 IL 95.00 01-Jan-2007 58,750.00 58,656.91
Summary 0261003097 VA 95.00 01-Jan-2007 12,100.00 12,083.78
Summary 0261003264 CA 90.00 01-Dec-2006 29,000.00 28,952.25
Summary 0261003885 CO 100.00 01-Jan-2007 72,000.00 71,924.88
Summary 0261042710 AZ 94.99 01-Dec-2006 113,924.00 113,681.24
Summary 0261174623 FL 81.18 01-Mar-2007 65,000.00 64,831.67
Summary 0261216988 CA 100.00 01-Feb-2007 104,244.00 42,935.26
Summary 0261217179 AZ 99.89 01-Feb-2007 200,000.00 199,860.05
Summary 0261218121 NV 94.75 01-Mar-2007 44,650.00 44,591.80
Summary 0261222028 CA 95.00 01-Mar-2007 62,500.00 62,464.45
Summary 0261222074 FL 100.00 01-Mar-2007 67,500.00 67,418.85
Summary 0261222276 CO 95.00 01-Feb-2007 113,000.00 112,920.90
Summary 0261222347 FL 95.00 01-Mar-2007 157,750.00 157,608.22
Summary 0261222464 OK 100.00 01-Mar-2007 29,750.00 29,731.04
</TABLE>
<TABLE>
<CAPTION>
Prepayment Loan Detail - Prepayments during Current Period (continued)
Current
Loan PIF Months Loan Original
Group Number Type Delinquent Rate Term Seasoning
<s> <c> <c> <c> <c> <c> <c>
Summary 0260940094 Loan Paid in Full 0 11.000% 180 5
Summary 0260940176 Loan Paid in Full 0 12.750% 180 4
Summary 0260940269 Loan Paid in Full 0 13.250% 180 6
Summary 0260940430 Loan Paid in Full 0 12.875% 180 5
Summary 0260957479 Loan Paid in Full 0 16.000% 360 4
Summary 0260957835 Loan Paid in Full 0 8.000% 360 4
Summary 0261003090 Loan Paid in Full 0 11.625% 180 4
Summary 0261003097 Loan Paid in Full 0 12.375% 180 4
Summary 0261003264 Loan Paid in Full 0 12.500% 180 5
Summary 0261003885 Loan Paid in Full 0 13.500% 180 4
Summary 0261042710 Loan Paid in Full 0 11.125% 360 5
Summary 0261174623 Loan Paid in Full 0 11.250% 180 2
Summary 0261216988 Loan Paid in Full 0 11.750% 180 3
Summary 0261217179 Loan Paid in Full 0 14.250% 180 3
Summary 0261218121 Loan Paid in Full 0 10.125% 180 2
Summary 0261222028 Loan Paid in Full 0 13.875% 180 2
Summary 0261222074 Loan Paid in Full 0 10.500% 180 2
Summary 0261222276 Loan Paid in Full 0 14.250% 180 3
Summary 0261222347 Loan Paid in Full 0 13.500% 180 2
Summary 0261222464 Loan Paid in Full 0 13.375% 180 2
</TABLE>
<TABLE>
<CAPTION>
Prepayment Penalty Detail - Prepayment Penalty Paid during Current Period
Prepayment Prepayment
Summary Loan Prior Penalty Penalty
Count Balance Amount Waived
<s> <c> <c> <c> <c>
Total 0 0.00 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Prepayment Penalty Loan Detail - Prepayment Penalty Paid during Current Period
Paid In Prepayment Prepayment
Loan Full Prior Penalty Penalty
Group Number Date Balance Amount Waived
<s> <c> <c> <c> <c> <c>
No Prepayment Penalties this Period
</TABLE>
<TABLE>
Prepayment Rates
<CAPTION>
Summary
SMM CPR PSA
<s> <c> <s> <c> <s> <c>
Current Month 0.431% Current Month 5.047% Current Month 692.894%
3 Month Average 0.000% 3 Month Average 0.000% 3 Month Average 0.000%
12 Month Average 0.000% 12 Month Average 0.000% 12 Month Average 0.000%
<CAPTION>
CPR: Current vs. 12mo Average* PSA: Current vs. 12mo Average*
Month Current 12mo Avg. Month Current 12mo Avg.
<s> <c> <c> <s> <c> <c>
Jun-2006 N/A N/A Jun-2006 N/A N/A
Jul-2006 N/A N/A Jul-2006 N/A N/A
Aug-2006 N/A N/A Aug-2006 N/A N/A
Sep-2006 N/A N/A Sep-2006 N/A N/A
Oct-2006 N/A N/A Oct-2006 N/A N/A
Nov-2006 N/A N/A Nov-2006 N/A N/A
Dec-2006 N/A N/A Dec-2006 N/A N/A
Jan-2007 N/A N/A Jan-2007 N/A N/A
Feb-2007 N/A N/A Feb-2007 N/A N/A
Mar-2007 N/A N/A Mar-2007 N/A N/A
Apr-2007 N/A N/A Apr-2007 N/A N/A
May-2007 5.047% N/A May-2007 692.894% N/A
*The text reported in the above table is presented *The text reported in the above table is presented
graphically on the monthly bond remittance report. The graphically on the monthly bond remittance report. The
monthly bond remittance report can be viewed online at monthly bond remittance report can be viewed online at
www.ctslink.com. www.ctslink.com.
<FN>
Calculation Methodology:
Single Month Mortality (SMM): (Partial and full prepayments + Repurchases) / (Beginning Scheduled Balance - Scheduled
Principal)
Conditional PrePayment Rate (CPR): 1 - ((1 - SMM)^12)
PSA Standard Prepayment Model: 100 * CPR / (0.2 * MIN(30,WAS))
Weighted Average Seasoning (WAS): sum((Original Term - Remaining Term)*(Current Scheduled Balance/Deal Scheduled Principal
Balance))
</FN>
</TABLE>
<TABLE>
<CAPTION>
Modifications
Beginning Current
Loan Scheduled Scheduled Prior Modified Prior Modified
Number Balance Balance Rate Rate Payment Payment
<s> <c> <c> <c> <c> <c> <c>
No Modifications this Period
</TABLE>
<TABLE>
<CAPTION>
Substitutions
Loans Repurchased Loans Substituted
Current Current
Loan Scheduled Current Current Loan Scheduled Current Current
Number Balance Rate Payment Number Balance Rate Payment
<s> <c> <c> <c> <c> <c> <c> <c>
No Substitutions this Period
</TABLE>
<TABLE>
<CAPTION>
Repurchases
Current
Loan Scheduled Current Current
Number Balance Rate Payment
<s> <c> <c> <c>
No Repurchases this Period
</TABLE>
<TABLE>
<CAPTION>
Breaches
Current
Loan Scheduled Current Current
Number Balance Rate Payment
<s> <c> <c> <c>
No Breaches this Period
</TABLE>
<TABLE>
<CAPTION>
Interest Rate Stratification
Summary
Current Number of Outstanding Percentage of
Interest Rate Loans Scheduled Balance(%)
Range(%) Balance($)
<s> <c> <c> <c>
< 5.000 2 176,425.08 0.048
5.000 5.499 3 384,028.64 0.104
5.500 5.999 8 642,855.75 0.174
6.000 6.499 8 489,090.91 0.133
6.500 6.999 21 1,756,031.59 0.476
7.000 7.499 32 1,956,665.75 0.530
7.500 7.999 126 8,770,448.56 2.376
8.000 8.499 146 8,027,241.71 2.175
8.500 8.999 248 14,500,503.47 3.929
9.000 9.499 188 12,677,305.40 3.435
9.500 9.999 480 27,843,789.32 7.544
10.000 10.499 552 35,462,423.84 9.608
10.500 10.999 458 34,890,162.87 9.453
11.000 11.499 404 34,828,608.06 9.436
11.500 11.999 425 33,967,161.61 9.203
12.000 12.499 478 28,504,967.40 7.723
12.500 12.999 826 46,594,232.52 12.624
13.000 13.499 487 26,864,153.81 7.278
13.500 13.999 381 22,551,188.85 6.110
14.000 14.499 208 12,544,885.37 3.399
14.500 14.999 125 7,560,351.58 2.048
15.000 15.499 49 2,607,749.34 0.707
15.500 15.999 49 2,675,458.86 0.725
16.000 16.499 12 813,398.88 0.220
16.500 16.999 12 1,085,868.10 0.294
17.000 17.499 8 161,523.20 0.044
17.500 17.999 5 387,925.93 0.105
18.000 18.499 1 55,980.75 0.015
18.500 18.999 1 23,789.05 0.006
19.000 19.499 1 121,954.53 0.033
19.500 19.999 0 0.00 0.000
>= 20.000 3 170,780.31 0.046
Total 5,747 369,096,951.04 100.000
</TABLE>
<TABLE>
<CAPTION>
SUPPLEMENTAL REPORTING
<s> <c>
Closing Date
May 15, 2007.
Business Day
Any day other than a Saturday, a Sunday or a day on which banking or savings and loan institutions in the States
of New York, Maryland, Minnesota, Pennsylvania or in the city in which the Corporate Trust Office of the Trustee
is located, are authorized or obligated by law or executive order to be closed.
Determination Date
With respect to each Distribution Date, the 15th day of the calendar month in which such Distribution Date occurs,
or if such 15th day is not a Business Day, the Business Day immediately preceding such 15th day. The Determination
Date for purposes of Article X hereof shall mean the 15th day of the month, or if such 15th day is not a Business
Day, the first Business Day following such 15th day.
Distribution Date
The 25th day of any month, or if such 25th day is not a Business Day, the Business Day immediately following such
25th day, commencing in May 2007.
Interest Determination Date
With respect to the Class A Certificates, the Mezzanine Certificates, REMIC I Regular Interests and REMIC II Regular
Interests (other than REMIC II Regular Interest P) and any Interest Accrual Period therefore, the second London
Business Day preceding the commencement of such Interest Accrual Period.
London Business Day
Any day on which banks in the Cities of London and New York are open and conducting transactions in United States
dollars.
Record Date
With respect to each Distribution Date and the Class A Certificates and the Mezzanine Certificates, the Business
Day immediately preceding such Distribution Date for so long as such Certificates are Book-Entry Certificates.
With respect to each Distribution Date and any other Class of Certificates, including any Definitive Certificates,
the last day of the calendar month immediately preceding the month in which such Distribution Date occurs.
Servicer Remittance Date
With respect to any Distribution Date, by 12:00 p.m. New York time on the 18th day of the month in which such
Distribution Date occurs; provided that if such 18th day of a given month is not a Business Day, the Servicer
Remittance Date for such month shall be the Business Day immediately preceding such 18th day.
</TABLE>