BOA has requested that Moody's provide its opinion on whether the ratings on the securities issued by the affected transactions would be downgraded or withdrawn as a result of the transactions having the servicing of some, but not all loans transferred to SPS from BOA by way of sub-servicing. BOA has chosen SPS to sub-service approximately 16,367 loans within the transactions listed below, commencing on November 30, 2012, with additional 527 loans to be transferred to SPS on December 15, 2012. As the sub-servicer, SPS will not own the servicing rights to the loans that are transferred from BOA.

In determining the credit impact of the transfer of servicing to SPS, Moody's reviewed i) SPS's servicing metrics ii) the affected transactions' sensitivity to cash flow disruptions due to changes in servicing and modification practices, and iii) SPS's ability to handle the proposed transfer.

Moody's view is based primarily on its opinion that: a) the ratings of each of the securities in the affected transactions will not have material negative implication following changes in servicing strategy that can occur after the transfer; b) SPS is a stronger servicer than BOA as evidenced by Moody's SQ assessment, and c) SPS is adequately prepared to handle the transfer and continue servicing the loans in the affected transactions listed above. SPS is assessed at SQ2+ as a primary servicer of subprime residential mortgage loans and as a special servicer of residential mortgage loans. BOA is assessed at SQ3+ as a primary servicer of subprime residential mortgage loans and SQ3 as a special servicer of residential mortgage loans. SPS is also assessed higher in the collections, loss mitigation and timeline management subcategories than BOA.

Moody's opinion addresses only the current impact on Moody's ratings, and it does not express an opinion as to whether the transfer of servicing rights has or could have any other effects that investors may or may not view positively.

The methodologies used in assessing the credit impact of the servicing transfer was "Moody's Approach to Rating Residential Mortgage Servicers" published in January 2001, "Updated Moody's Servicer Quality Rating Scale and Definitions" published in May 2005, "Proposal to Update Moody's Approach To Servicer Quality (SQ) Assessment For U.S. Primary Residential Mortgage Servicers" published in July 2012, "Pre-2005 US RMBS Surveillance Methodology" published January 2012, "US RMBS Surveillance Methodology for Scratch and Dent" published in May 2011, and " 2005-2008 US RMBS Surveillance Methodology" published in July 2011. Please see the Credit Policy page on www.moodys.com for a copy of these methodologies.

Affected Transactions: Alt-A Collateral GSC Capital Corp.Mortgage Trust 2006-1

GSC Capital Corp.Mortgage Trust 2006-2

Scratch & Dent Collateral

Merrill Lynch Mortgage Investors Trust Series 2006-SD1

CWABS Asset-Backed Certificates Trust 2006-QH2

Subprime Collateral

Merrill Lynch Mortgage Investors, Inc. 2005-WMC1

First Franklin Mortgage Loan Trust 2005-FFH1

Specialty Underwriting and Residential Finance Trust, Series 2005-BC2

First Franklin Mortgage Loan Trust 2005-FF7

Specialty Underwriting and Residential Finance Series 2005-AB2

Merrill Lynch Mortgage Investors Trust 2005-AR1

Specialty Underwriting and Residential Finance 2005-AB3

Specialty Underwriting and Residential Finance Series 2005-BC4

Merrill Lynch Mortgage Investors Trust 2006-WMC1

Merrill Lynch Mortgage Investors Trust Series 2006-HE1

Specialty Underwriting and Residential Finance Series 2006-BC1

Specialty Underwriting and Residential Finance Series 2006-AB1

Merrill Lynch Mortgage Investors Trust 2006-RM1

Specialty Underwriting and Residential Finance 2006-BC2

Merrill Lynch Mortgage Investors Trust 2006-WMC2

Merrill Lynch Mortgage Investors Trust Series 2006-HE2

Merrill Lynch Mortgage Investors Trust 2006-AR1

Specialty Underwriting and Residential Finance Series 2006-AB2

Merrill Lynch Mortgage Investors Trust 2006-RM2

Merrill Lynch Mortgage Investors Trust Series 2006-HE3

Merrill Lynch Mortgage Investors Trust 2006-AHL1

Merrill Lynch Mortgage Investors Trust 2006-FM1

Specialty Underwriting and Residential Finance Series 2006-BC3

Merrill Lynch Mortgage Investors Trust Series 2006-HE4

Specialty Underwriting and Residential Finance 2006-AB3

Merrill Lynch Mortgage Investors Trust 2006-MLN1

Merrill Lynch Mortgage Investors Trust Series 2006-HE6

First Franklin Mortgage Loan Trust 2006-FF18

First Franklin Mortgage Loan Trust 2007-FF1

Merrill Lynch Mortgage Investors Trust, Series 2007-HE1

Specialty Underwriting and Residential Finance Trust, Series 2007-AB1

First Franklin Mortgage Loan Trust Mortgage Loan Asset-Backed Certificates, Series 2007-FF2

Merrill Lynch Mortgage Investors Trust Series 2007-HE2

Merrill Lynch Mortgage Investors Trust 2007-MLN1

Merrill Lynch Mortgage Investors Trust Series 2007-HE3

Merrill Lynch Mortgage Investors Trust 2005-FM1

Specialty Underwriting and Residential Finance Series 2006-BC5

Junil Park Associate Analyst Structured Finance Group Moody'sInvestors Service, Inc.250 Greenwich StreetNew York, NY 10007 U.S.A. JOURNALISTS: 212-553-0376 SUBSCRIBERS: 212-553-1653Amita Shrivastava VP - Senior Credit Officer Structured Finance Group JOURNALISTS: 212-553-0376 SUBSCRIBERS: 212-553-1653 Releasing Office: Moody's Investors Service, Inc.250 Greenwich StreetNew York, NY 10007 U.S.A. JOURNALISTS: 212-553-0376 SUBSCRIBERS: 212-553-1653(C) 2012 Moody's Investors Service, Inc. and/or its licensors and affiliates (collectively, "MOODY'S"). All rights reserved.

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