For the fiscal year ended December 31, 2006 (the "Reporting Period"), Ocwen Loan Servicing, LLC ("OLS") furnishes this annual servicer compliance statement pursuant to Item 1123 of Regulation AB, indicating its compliance with the servicing standards of the Securities & Exchange Commission asset forth in Regulation AB, 17 CFR 229.1100, et seq., ("Regulation AB"). In this regard, I make the following representations, which are true to the best of my knowledge and belief in all material respects.
1. A review of the servicing activities of OLS during the Reporting Period, and of its performance under the Pooling and Servicing Agreement dated as of February 1, 2006 (the "Agreement"), has been performed under my supervision.
2. To the best of my knowledge, based on this review, OLS has fulfilled all of its obligations under the Agreement in all material respects throughout the Reporting Period.
Ocwen Loan Servicing LLC 1661 Worthington Road Suite 100 Centrepark West West Palm Beach, FL33409
b)
SPS LOGO
Agreement: Credit Suisse First Boston Mortgage Secur ities Corp., Depositor,
DLJ Mortgage Capital, Inc., Seller, Wilshire Credit Corporation, Servicer, Ocwen Loan Servicing, LLC, Servicer, Select Portfolio Servicing, Inc., Special Servicer and U.S. Bank National Association, Trustee - Pooling and Servicing Agreement - Home Equity Mortgage Trust Series 2006-1
In accordance with the applicable section in each of the Pooling and Servicing Agreements specified:
i.
a review of the activities of the Special Servicer during the year ended December 31, 2006 and of performance under this Agreement has been made under such officers' supervision; and
ii.
to the best of such officers' knowledge, based on such review, the Special Servicer has fulfilled all of its obligations and no default has occurred under this Agreement throughout such year.
U.S. Bank National Association 60 Livingston Avenue EP-MN-WS3D St. Paul, MN55107-2292
Attn: Diane Reynolds
Re:
Pooling and Servicing Agreement (the "Agreement") dated as of February 1, 2006 among Credit Suisse First Boston Mortgage Securities Corp, as Depositor, DLJ Mortgage Capital, Inc., as Seller, Wilshire Credit Corporation, as Servicer, Ocwen Loan Servicing, LLC, as Servicer, Select Portfolio Servicing, Inc., as Special Servicer and U.S. Bank National Association, as Trustee, relating to Home Equity Mortgage Trust Series 2006-1, Home Equity Mortgage Pass-Through Certificates, Series 2006-1 (CSFB HEMT 2006-1), Pool 635
I, Ken Frye, Senior Vice President, Loan Servicing of Wilshire Credit Corporation (the "Servicer"), hereby certify that:
i.
A review of the activities of the Servicer during the preceding calendar year and of the performance of the Servicer under this Agreement has been made under my supervision, and
ii.
To the best of my knowledge, based on such review, the Servicer has fulfilled all its obligations under this Agreement in all material respects throughout such year, or if
there has been a failure to fulfill any such obligation in any material respect, it has been disclosed in writing on or prior to the date of this certification either in the accountants' report required under the related Agreement or in a disclosure, a copy of which is attached hereto.
